I was wondering if you had a classic car for sale do you think you would do better selling it at an auction or selling it privately. I would be curious to know your thoughts.
If the highest sale price is what you are after, then private sale is the way to go. I buy a lot of vehicles from auctions, and I'm planning on another in 2 weeks. I go to auctions for bargains, and usually get them. However, they are drivers, not classics. An auction is really a crap shoot if you dont have a reserve on the car. If the auction is National then you might do better, or if the car is a very sought after model. I keep waiting for a classic to show up at my local auction, but sellers generally know that they'll do better privately. Just my 2 cents.
Good topic, I need to sell my 69 SS396, it has been for sale for a year and a half. I looked long and hard at the ad in Old Autos, sale in Toronto April 8-10. They want 10% of the selling price plus several other fees adding up to several hundred more. I think I will put it out at the road one more summer, my friend lives on a busy highway. I`m not desperate to sell, but I keep the insurance on it if I drive it or not, also need to store it every winter.
You can ask for a reserve at an auction,but chances are you'll never get what you want.A classic car is more niche than what most ppl are looking for at your regular vehicle auction.You'd just be throwing your money away to the auctioneer for fees. My.02c Or,find an auction strikley dealing in classics. Personally,private is the way to go i'd say,if they say their coming at this time,tell them phone 1st.,your not waiting around for anybody!again,my .02c
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That is funny Carl the car i looked at today was "appraised by the neighbour" for 2800-3500$ Thats when i left.... I like going auction way over private depending on car..
427carl wrote:
The auction can save you a lot of headaches!!
The private sale requires a lot of time.....
The people who call, and want to see it NOW. The people who call and make apppointment and don't show or don't come on time. The people who aren't really interested, just want to see car. The people who do not have financing in place. The people who want to dicker no matter what you say.. The people who spent hours telling stories, of some other car. The people who try to tear your car apart, while you have to listen. The people who bring "almost enough" to buy the car, hoping you will drop price... The people who arrive with their Dad or Brother or boyfriend, or mechanic, or neighbor The people who bring their Car expert, (who knows nothing about your brand of car)
I hate selling cars! hate it hate it hate it Auction brings, no come back whinning about ciagrette lighter not working It fast painless and less personal BUT I would always put a reserve on it.....
Todd makes a good point about ebay. I have bought and sold many cars through ebay. Most transactions taking place after the listing expires,that way it is more lucrative for both buyer and seller. Also never hurts to throw in POSSIBLE DELIVERY................
66ragtop, are you selling your 66? If so, how much do you need?
67SD396 how much do you think someone is willing to pay ? or what do you think the market will bare ?
I've seen this car in person its very good-would eventually require an interior kit as it has a three piece carpet worn driver's seat and material sween on the door panels-one of the best bodies I've seen although it has been repainted
The people who call, and want to see it NOW. The people who call and make apppointment and don't show or don't come on time. The people who aren't really interested, just want to see car. The people who do not have financing in place. The people who want to dicker no matter what you say.. The people who spent hours telling stories, of some other car. The people who try to tear your car apart, while you have to listen. The people who bring "almost enough" to buy the car, hoping you will drop price... The people who arrive with their Dad or Brother or boyfriend, or mechanic, or neighbor The people who bring their Car expert, (who knows nothing about your brand of car)
I hate selling cars! hate it hate it hate it Auction brings, no come back whinning about ciagrette lighter not working It fast painless and less personal BUT I would always put a reserve on it.....
Carl-It sounds like you've sold a few !!!!
you re right a no strings attached sale is the best-but if you know your reserve you could just give that price to a "serious" buyer and save the $500 entry fee in the auction-don't forget to bump up the reserve by 10% to cover the seller's fee-that said say you had a car you wanted $10,000 for you would have to put the reserve at $11,500 to cover selling fees and entry fee hopefully it sells or your out the entry fee-consider the buyer is also paying 10% to purchase so the car cost them $12,600 + tax (13 percent)-if you had that buyer in the first place without the fees everyone would be in better shape.
I've worked the Classic car auction in Toronto-seen people sell for more $ than they thought-sell for less $ than they thought and seen them not sell at all.
Auctions are a great place to sell a car if you want it gone no emotion.
-- Edited by 67BBSD on Tuesday 12th of April 2011 09:57:48 PM
I was wondering if you had a classic car for sale do you think you would do better selling it at an auction or selling it privately. I would be curious to know your thoughts.
If you want to auction a car-I am consigning for the spring classic car auction in Toronto-you've missed the deadline to have a car in the color brochure though
Ken LeBlanc (905) 714-1403 Ken's Auto Appraisals Welland
66ragtop, are you selling your 66? If so, how much do you need?
Bingo. No matter if its auction or private sale the seller should first calculate how much he or she wants to sell for-even a ball park price can significantly help the potential buyer. I ve had situations where someone wanted "best offer" and they took my offer so quick I was spinning so I was sure they would have taken less (not that it mattered cause I was comfortable with what I d paid) then I ve had others where I made an offer and the owner looking for "best offer" thought I was out to lunch
66ragtop, are you selling your 66? If so, how much do you need?
Bingo. No matter if its auction or private sale the seller should first calculate how much he or she wants to sell for-even a ball park price can significantly help the potential buyer. I ve had situations where someone wanted "best offer" and they took my offer so quick I was spinning so I was sure they would have taken less (not that it mattered cause I was comfortable with what I d paid) then I ve had others where I made an offer and the owner looking for "best offer" thought I was out to lunch
I guess it is just my thinking but doesn't every car guy have have some sort of a dollar figure in their head as to the value of their car? We all want to sell for top dollar but purchase at rock bottom.
Let me clear the air , I asked the question "Auction VS Private sale" out of curiosity only. I have not decided if I will sell my car , but was curious what Poncho members thought of Auction vs Private sale and it has brought out some very intersting comments.
Let me clear the air , I asked the question "Auction VS Private sale" out of curiosity only. I have not decided if I will sell my car , but was curious what Poncho members thought of Auction vs Private sale and it has brought out some very intersting comments.
Auction - I sold a friends 67 Firebird rag.. on EBAY, But, Locally he had more tire kickers than anything and could only come up with a price of $8000.00 .. I listed it for him for just the fees and did a history check on it and found it to be a origional HO car... Did up a good letter from him on what he did to it and put everything we knew about her and there was over 18,000 lookers on it.. Guy in Ontario bought her for $12,000.00 Where can you get that many people to look at a car in 7 days.. not on a car lot !!
-- Edited by the70judge on Thursday 3rd of March 2011 06:44:15 PM
Let me clear the air , I asked the question "Auction VS Private sale" out of curiosity only. I have not decided if I will sell my car , but was curious what Poncho members thought of Auction vs Private sale and it has brought out some very intersting comments.
Auction - I sold a friends 67 Firebird rag.. on EBAY, But, Locally he had more tire kickers than anything and could only come up with a price of $8000.00 .. I listed it for him for just the fees and did a history check on it and found it to be a origional HO car... Did up a good letter from him on what he did to it and put everything we knew about her and there was over 18,000 lookers on it.. Guy in Ontario bought her for $12,000.00 Where can you get that many people to look at a car in 7 days.. not on a car lot !!
-- Edited by the70judge on Thursday 3rd of March 2011 06:44:15 PM
