Classic Car Auctions
Discussion
I see that Brightwells have a classic car auction coming up in the next few weeks, and there are a couple of classics which have caught my eye. While I have bought regular cars at auctions in the past (BCA), I haven't bought a classic in this way. Has anyone here got any experience of buying classics at auction? What should I avoid?
Some of the guide prices in the catalogue look quite low. Is this right, or are the guide prices set realistically? I have rather assumed that they are set low to bring in the punters looking for a good deal.
Some of the guide prices in the catalogue look quite low. Is this right, or are the guide prices set realistically? I have rather assumed that they are set low to bring in the punters looking for a good deal.
In my experience the guide prices are usually about right. Remember this is where a lot of dealers pick up their stock, so factor in their margins. It also represents a risk - even the nicest looking cars can turn out a bit shonky once you get behind the wheel.
Aside from the usual advice of knowing your limit etc, I would suggest you have a chat with the auctioneer to make sure you are 100% clear on the rules for return. Some cars are sold as seen, and others may allow you an hour after the auction to reject it based on a mechanical fault not mentioned in the bumf.
It can be a great way to pick up a classic, though. Go with your gut instinct - stick to cars with stacks of history, club mags, and anything that shows it's been well-loved.
Aside from the usual advice of knowing your limit etc, I would suggest you have a chat with the auctioneer to make sure you are 100% clear on the rules for return. Some cars are sold as seen, and others may allow you an hour after the auction to reject it based on a mechanical fault not mentioned in the bumf.
It can be a great way to pick up a classic, though. Go with your gut instinct - stick to cars with stacks of history, club mags, and anything that shows it's been well-loved.
Do the read the Conditions of Sale, especially about the Buyer's Premium and any removal conditions.
Remember you do not pay the hammer price and the old auctioneer's trick of guineas (5%) has been taken to new levels. You also pay VAT for this service.
There is also typically 2 Zillion lots of junk/spares in the morning, I think most companies try to start the cars on the stated time.
Remember you do not pay the hammer price and the old auctioneer's trick of guineas (5%) has been taken to new levels. You also pay VAT for this service.
There is also typically 2 Zillion lots of junk/spares in the morning, I think most companies try to start the cars on the stated time.
Go and have a good luck at the cars your interested in at the viewing day ask as many questions as you need and ask to see the cars history/file. Some auction houses will even start the car for you so that you can hear it running. Biggest tip set your budget including buyers premium and stick to it. One last thing check out in their T&C's about payment as cash payments may incur a cash handling fee (I found this out once and it cost me an extra 1%).
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