Auction Advice (selling)

General Chat with an emphasis on BMC Minis & Other iconic cars of the 1960's. Includes information on MK1 Action days.
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gr4h4m
Posts: 231
Joined: Sun Jan 01, 2012 4:00 pm

Auction Advice (selling)

Post by gr4h4m »

Hi all,
I'm thinking of selling a classic car that I recommissioned last year. Id I decide to go down this route what should I look out for?

Thanks for any advice

Graham

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Pandora
Posts: 2498
Joined: Thu Jun 24, 2010 8:01 pm
Location: Dunfermline, Fife

Re: Auction Advice (selling)

Post by Pandora »

There are many factors to consider, many of which will depend on the car -

Location, what type of sale (one supporting a racing event, or a more traditional stand alone auction), what are their sellers commission (10% usually, +VAT), do they have a good track record with your type of car? what are the costs to enter the car (cataloguing and photography fees - though you can often haggle over these) what reserves will they accept. Always read the small print about the pre and post auction sale options so you are happy with them.

It's easy to knock auction houses as they make commission on both sides, but it costs A LOT to put on a sale with venue, transport, advertising etc, all of which put your car in front of a big audience.

If you can sell privately, that's often easier / better, but if you have a good car it can often be beneficial to sell where 2 buyers fight it out. This is particularly the case with oddball cars or those with interesting histories.

Tell the truth when you describe it and do as much prep before the sale to present the car at its best. Yes the auction house staff will give it a clean etc so it looks good, but they don't have the time to fully detail all the lots - you'd be amazes what some folk sent their cars for sale like, then complain it wasn't presented well and that's why it didn't meet it's reserve with half of their home county hanging off the bottom of it! Also, don't expect even the best auction house to be as knowledgable as marque experts on every anorak detail! They will generally have members of staff who have more specialist knowledge of certain marques and types of vehicle, but not all will know their Ogle from their Unipowers, or the exact date of production when the mini sill changed from a 4 vent to a 6 vent design. If there are features that really matter, help them out. It'll help the car sell. Don't tell lies to cover up changes or faults, the web (and we are as guilty of it here) are quick to call things into questions, and possible buyers can get spooked.

I used to work with Coys, and also know the guys at Historics quite well, so if you need advice, feel free to PM me.

Al

gr4h4m
Posts: 231
Joined: Sun Jan 01, 2012 4:00 pm

Re: Auction Advice (selling)

Post by gr4h4m »

Thanks very much for the advice. Some more research and reading.

gr4h4m
Posts: 231
Joined: Sun Jan 01, 2012 4:00 pm

Re: Auction Advice (selling)

Post by gr4h4m »

Is there any advice of the best sites to use to advertise the car, I'm thinking I should give it a go first? what to people recommend?

Thanks for any advice.

Graham

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Pandora
Posts: 2498
Joined: Thu Jun 24, 2010 8:01 pm
Location: Dunfermline, Fife

Re: Auction Advice (selling)

Post by Pandora »

carandclassic.co.uk is the biggest and most popular.

Al

gr4h4m
Posts: 231
Joined: Sun Jan 01, 2012 4:00 pm

Re: Auction Advice (selling)

Post by gr4h4m »

thanks

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Andrew1967
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Joined: Thu Jun 24, 2010 6:35 pm
Location: UK

Re: Auction Advice (selling)

Post by Andrew1967 »

I'd second that.

We've sold about half a dozen classics on C & C now - really simple and best of all FREE :)

gr4h4m
Posts: 231
Joined: Sun Jan 01, 2012 4:00 pm

Re: Auction Advice (selling)

Post by gr4h4m »

Well as an update for anyone who might find this post. I stopped the idea of the auction mostly due to c19. But I did put an ad on CC and eBay. eBay generates the most interest and the car sold Saturday.

Thanks all for the help

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