Classic car auctions

[79targa]

What are price expectations at Classic Car Auctions? (Specifically in the midwest.) Are buyers expecting a bargain or just a nice variety to choose from?

I have a car for sale and am considering the auction in Wichita, KS in a couple of weeks but am wondering the probability of meeting my reserve (an average price) and if it's worth the risk of the entry fee.

[MarkP]

I don't know that it will help you in the short term, but the magazine Sports Car Market covers the regional and world wide auction market. It is a very interesting read every month with hundreds of profiles of cars that have been at auctions.

You didn't say much about the car you have for sale, but my high level overview would be this:

Average cars that are in high supply don't do well at these auctions. Special makes, models and cars that are in exceptional condition (ie - low supply cars) can do exceptionally well at auction.

If you take your car, have it detailed first and plan to stay close to it all day to answer questions from prospective bidders. Bring all the paperwork that documents your story.

Good luck

[epbrown]

Sports Car Market is good (I'm a subscriber) for getting an idea of what your car could go for. Motor Trend has an article on the classic car auction experience in the July 2003 issue.

As for expectations, that depends on the auction itself. Most auctions have a focus, and if your car is a US muscle car at an Italian marques-based auction, interest (and bids) will be lower because the wrong crowd will be there. It's worth traveling or waiting until the auction house has a more appropriate auction venue, instead of missing your target audience.

Most houses only recommend going the auction route if the car is valued at $10,000 or more and is either rare (Carrera RS) or falls within a common enthusiast streak of diminishing cars (made in decent numbers but not collectable). The former draws the collectors, the latter can garner impulse buys or generate lots of scattered bids to get things going if it's nice enough and strikes a chord. Something like a Mustang or Corvette is only worth auctioning if it's in phenomenal condition and/or a sought-after model, (Mustang Fastback with 302, Corvette Stingray with big block).

Emanuel

[hoosierdaddy]

One other aspect of these auctions , you will expose your car to a lot of potential buyers for a possible outside sale. You will have to decide if this is worth the initial registration fees.

Jim

[AirCooledExcellence]

Go and park your car outside the auction with a sale sign on it

Cheers