You have attended a few classic car auctions and are thinking it’s time to experience what it’s like to buy a car at one.
Auctions can be a great place to buy, and for a number of reasons:
First, you can often find cars at auction that you cannot find elsewhere. Special cars, cars with storied history, and many top-tier collector cars are sold at auction more than they are sold in the standard person-to-person market or even at by top-tier collector car dealers.
Second, auctions have a large number of cars all offered at the same time, giving you a greater breadth and depth of classic car offerings than you are likely to find by searching websites.
A third reason for buying at auction is that it can be a lot of fun. The process of bidding and hoping to be the final and winning bidder can be as exciting as it is nerve wracking.
Finally, you can sometimes find an amazing deal at an auction, especially if it is the wrong car at the wrong auction, such as a 1977 Porsche Euro Carrera at an auction that primarily sells muscle cars.
But there are some things to consider before buying at auction, which can be a successful adventure if you do your homework — and a disaster if you don’t.
Following is a list of tips to consider when buying at auction.