Why would people sell a 'straight' car through auction
Discussion
Apart from a car with issues that dealers and private buyers will find out and that the seller will end up with issues post sale. What is the upside of auction on non 'special' cars which are not rare, unusual colours, interesting provenance. I can understand 'special' cars such as a interesting colour Carrera GT's might make sense in an auction where two excited buyers might drive the price high.
When I've sold my cars, I've mostly consigned to dealers (for higher value cars) or put it up privately for sale (for lower value).
When I've tried bidded at auction I've factored in a fair leeway for hidden issues else I imagine I'd be running the gaundlet, I'm assuming others do and hence why the cars seem to go for oftentimes for reasaonble prices, but not usually 'cheap'.
I can understand that if one needs the money urgently and doesn't want to deal with tyre kickers then auction might make sense. However a dealer is going to inspect your car and then bank transfer you almost straight away, which sounds like a better deal than going through auciton and it underperforming on the day?
Or is it more for convinience knowing you won't get top money but it avoids the hastle of going to dealers, negotiations etc and knowing it will be settled in a fixed time period?
When I've sold my cars, I've mostly consigned to dealers (for higher value cars) or put it up privately for sale (for lower value).
When I've tried bidded at auction I've factored in a fair leeway for hidden issues else I imagine I'd be running the gaundlet, I'm assuming others do and hence why the cars seem to go for oftentimes for reasaonble prices, but not usually 'cheap'.
I can understand that if one needs the money urgently and doesn't want to deal with tyre kickers then auction might make sense. However a dealer is going to inspect your car and then bank transfer you almost straight away, which sounds like a better deal than going through auciton and it underperforming on the day?
Or is it more for convinience knowing you won't get top money but it avoids the hastle of going to dealers, negotiations etc and knowing it will be settled in a fixed time period?
kazino said:
Apart from a car with issues that dealers and private buyers will find out and that the seller will end up with issues post sale. What is the upside of auction on non 'special' cars which are not rare, unusual colours, interesting provenance. I can understand 'special' cars such as a interesting colour Carrera GT's might make sense in an auction where two excited buyers might drive the price high.
When I've sold my cars, I've mostly consigned to dealers (for higher value cars) or put it up privately for sale (for lower value).
When I've tried bidded at auction I've factored in a fair leeway for hidden issues else I imagine I'd be running the gaundlet, I'm assuming others do and hence why the cars seem to go for oftentimes for reasaonble prices, but not usually 'cheap'.
I can understand that if one needs the money urgently and doesn't want to deal with tyre kickers then auction might make sense. However a dealer is going to inspect your car and then bank transfer you almost straight away, which sounds like a better deal than going through auciton and it underperforming on the day?
Or is it more for convinience knowing you won't get top money but it avoids the hastle of going to dealers, negotiations etc and knowing it will be settled in a fixed time period?
Once it's done, it's done. Certainty around date.When I've sold my cars, I've mostly consigned to dealers (for higher value cars) or put it up privately for sale (for lower value).
When I've tried bidded at auction I've factored in a fair leeway for hidden issues else I imagine I'd be running the gaundlet, I'm assuming others do and hence why the cars seem to go for oftentimes for reasaonble prices, but not usually 'cheap'.
I can understand that if one needs the money urgently and doesn't want to deal with tyre kickers then auction might make sense. However a dealer is going to inspect your car and then bank transfer you almost straight away, which sounds like a better deal than going through auciton and it underperforming on the day?
Or is it more for convinience knowing you won't get top money but it avoids the hastle of going to dealers, negotiations etc and knowing it will be settled in a fixed time period?
For some there is the snobbery value of an auction, especially if the auction is well respected in the vein of Bonhams rather than Hampsons.
For others from landed gentry, to farmers, to businessmen, they may have only ever bought and sold stuff via auctions - your farm machinery, plant etc, and have a long-standing relationship with the auctioneer.
For others from landed gentry, to farmers, to businessmen, they may have only ever bought and sold stuff via auctions - your farm machinery, plant etc, and have a long-standing relationship with the auctioneer.
I go to classic auctions frequently since about 2018. Yes, they are often cars that probably have an issue or two not obvious. They are also often probate sales that require them to be sold to complete the process and the keeper on the V5c is deceased; hence they are sometimes labelled as being from a 'collection.' Of course, rare, special cars will get higher visibility.
Non runners / restoration projects are often sold this way, not the sort of car that would sell at a dealer. With so many time wasters / scammers these days, it's also a low stress way of getting a car sold, even if it does fetch a bit less than it would selling with patience, privately.
It's also a bit of a 'day out' if you like cars in general.
There is a bit o a hierarchy about selling a car at Bonhams, Historics and the like, but I doubt they end up with more money, because they charge so much just to go in their glossy catalogue. Steep buyers fees and the fact they are 1 day pop-up auctions is a deterrent for me, I prefer places with premises that have an open policy to seeing them in person and a relaxed collection procedure.
Non runners / restoration projects are often sold this way, not the sort of car that would sell at a dealer. With so many time wasters / scammers these days, it's also a low stress way of getting a car sold, even if it does fetch a bit less than it would selling with patience, privately.
It's also a bit of a 'day out' if you like cars in general.
There is a bit o a hierarchy about selling a car at Bonhams, Historics and the like, but I doubt they end up with more money, because they charge so much just to go in their glossy catalogue. Steep buyers fees and the fact they are 1 day pop-up auctions is a deterrent for me, I prefer places with premises that have an open policy to seeing them in person and a relaxed collection procedure.
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