Collector Car Auction

How A Collector Car Auction Differs From Standard Vehicle Auctions

A collector car auction will have a totally different feel from that of the standard motor auction. Whereas the vehicles at most motor auctions will mean absolutely nothing to their current owners, the vehicles at a collector's auction will usually be treasured pieces, and the owners will be reluctant to let them go. The contrast could not be more different. I will explain. When a vehicle is sent to a standard motor auction, it is usually by a government agency or financial institution.

This is because the vehicle will have been seized. Neither the government nor the financial institutions really want to seize vehicles, but there are many times when they have no choice. In the case of the government, it will usually be because the owner owes back taxes which cannot be paid. In the case of the financial institutions, it will be because payments could not be maintained on a vehicle loan. In both cases, the need to seize the vehicle is a nuisance for the organization, who would much sooner have had the money.

The act of repossessing the vehicle involves them in extra expense, and they just want to get rid of it as quickly as possible. Contrast that with the attitude of someone who puts a collector's car up for sale. Often, these people will be in a situation where they have to sell for financial reasons, but it is the last thing they would really want to do. Cars at a collector's auction are normally very well looked after, although you should still carry out a thorough inspection before you bid on one.

There is one other striking feature of collector car auctions, and that is the near total absence of dealers. These cars are rare, and the people who buy them are not looking for the most economical model or to save a few dollars on the purchase price. The chances of a dealer being able to outbid the fanatical collectors who attend these auctions, and then be able to sell the vehicle to another collector, leaving himself a workable profit, are extremely slim.

If you are thinking of attending a collectors car auction, be aware that this is not a bargain hunter's paradise. Unlike most other car auctions, the buyers here are serious enthusiasts who are prepared to pay a fair market price, even sometimes over a market price, to obtain what they are looking for. In a lot of cases, it is even hard to determine what a market price may be. Collector vehicles are often unique, and it is only the auction itself which will determine the market value. If you are looking to bid, you still need to be aware of your budget, and how much you are prepared to pay, but be prepared for the bidding to go out of control. Remember, it only takes two enthusiasts to go out of control, and you will be facing a bidding war you cannot possibly win. This is what can happen at a collector car auction.

 

 

 

 

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