Selling Classics Via Auction
Discussion
I have a few classics to sell from £5k to £50k+
Currently I have adverts on various sites with very little response so am considering using auctions
Has anyone got any experience with the various online / real companies ?
I'm based in Warwickshire, I'm aware there are a couple of local auction options but I'm staggered by their fees £2500 (5% of £50k) for a minute on the auction floor seems excessive
Currently I have adverts on various sites with very little response so am considering using auctions
Has anyone got any experience with the various online / real companies ?
I'm based in Warwickshire, I'm aware there are a couple of local auction options but I'm staggered by their fees £2500 (5% of £50k) for a minute on the auction floor seems excessive
Rapid rental said:
With regards to percentages, I am afraid you are not buying the time it takes them to sell it, rather their experience in selling classics in a hassle free environment and hopefully at the right price.
Plus the write up, photography, marketing and reach they've got. OP, how long have you been advertising?
I recently sold a rare classic I'd owned for long enough that it had become impossible to value, so I picked a number that was about 50% more than I dared dream it was worth. For 3 weeks or so I heard nothing, then got one interested party who rang on a Thursday, viewed on the Saturday and had collected it by Tuesday. I guess I'm saying, it only takes one person and the nearer we get to summer the more interest in classics there usually is*.
*OK, we're in a weird market at the moment, but you get the idea.
I recently sold a rare classic I'd owned for long enough that it had become impossible to value, so I picked a number that was about 50% more than I dared dream it was worth. For 3 weeks or so I heard nothing, then got one interested party who rang on a Thursday, viewed on the Saturday and had collected it by Tuesday. I guess I'm saying, it only takes one person and the nearer we get to summer the more interest in classics there usually is*.
*OK, we're in a weird market at the moment, but you get the idea.
Turbobanana said:
OP, how long have you been advertising?
I recently sold a rare classic I'd owned for long enough that it had become impossible to value, so I picked a number that was about 50% more than I dared dream it was worth. For 3 weeks or so I heard nothing, then got one interested party who rang on a Thursday, viewed on the Saturday and had collected it by Tuesday. I guess I'm saying, it only takes one person and the nearer we get to summer the more interest in classics there usually is*.
It varies for different cars but a few for 2 months, I possibly have priced them to cheaply which might be putting people off - thinking they are worse than they areI recently sold a rare classic I'd owned for long enough that it had become impossible to value, so I picked a number that was about 50% more than I dared dream it was worth. For 3 weeks or so I heard nothing, then got one interested party who rang on a Thursday, viewed on the Saturday and had collected it by Tuesday. I guess I'm saying, it only takes one person and the nearer we get to summer the more interest in classics there usually is*.
I sold my Westfield and Civic within hours but the cars over £20K haven't had a single viewing
I can recommend www.historics.co.uk
I have sold twice and bought twice through them.
On the sales they inspected the cars, wrote the description and sent a private photographer to take all the pictures. I was very happy with the prices achieved.
I have sold twice and bought twice through them.
On the sales they inspected the cars, wrote the description and sent a private photographer to take all the pictures. I was very happy with the prices achieved.
POORCARDEALER said:
Thanks, I've submitted a car for their valuation, I'll report backKTMsm said:
That's the bit I don't understand really eBay and classic cars for sale, surely have more reach than they do
Collecting cars for example, advertises on eBay
Yes, but their websites generate a lot of traffic in their own right, and a long list of email subscribers that are reached regularly, not to mention huge social media followings, which something like eBay doesn't get as you have to actively search (unless you've got alerts set up, and how many among the older tech illiterate crowd do that?), and the physical auctions go even further by having printed catalogues that they send out by the thousand. Collecting cars for example, advertises on eBay
There is also the case to be made for a quality write up, and professional photos rather than what most owners can provide.
KTMsm said:
POORCARDEALER said:
Thanks, I've submitted a car for their valuation, I'll report backA very similar car is with a Trader at £25k
Mine is advertised at £20k
They have bid £15k
KTMsm said:
KTMsm said:
POORCARDEALER said:
Thanks, I've submitted a car for their valuation, I'll report backA very similar car is with a Trader at £25k
Mine is advertised at £20k
They have bid £15k
What type of car is it ?
KTMsm said:
POORCARDEALER said:
If it’s 20k retail (and not selling ) and they offer £15k , that’s not 66% !?!
Vat, prep, warranty etc, be lucky to net £3k ?????
Assuming the other Trader isn't an idiot then Trade retail is £25kVat, prep, warranty etc, be lucky to net £3k ?????
It's a Lotus which needs no prep - it's all been done
POORCARDEALER said:
If that’s the case traders would be beating your door down at £20k.
Well that's the weird thing when a Trader heard about it and the price he asked if it was in boxes, when he was told it was running and MOT he said he'd be down the next week - never cameI've had around 10 people call and say much the same - none have turned up
I'll raise the price and see what happens
On another car I've had the usual I'll give you £12k (for a £15k car) I've said fine - send the money. I don't expect to hear from him again either, the world is full of idiots and when you sell a car you get to meet most of them
Unless its fire sale cheap, vanishingly rare and hugely desirable or you're just plain lucky, never expect a classic to sell quickly.
You first need someone who is happy to spend that amount of cash on a trinket and you then need that person to look at your car and say "you, that is *just* what I had in my minds eye when I thought about buying one of these"
You first need someone who is happy to spend that amount of cash on a trinket and you then need that person to look at your car and say "you, that is *just* what I had in my minds eye when I thought about buying one of these"
POORCARDEALER said:
85Carrera said:
POORCARDEALER said:
Probably about right for a trade bid.
What type of car is it ?
Really? A 66% mark up seems a lotWhat type of car is it ?
Vat, prep, warranty etc, be lucky to net £3k ?????
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