What Happens At An Antique Car Auction

What Happens At An Antique Car Auction

Antique car auctions can be a​ great place to​ pick up a​ real bargain. They attract classic car enthusiasts from far and​ wide. the​ most popular car auction is​ the​ US is​ the​ Barrett-Jackson annual car auction which is​ held in​ Palm Beach, Florida. the​ last auction attracted over 65,000 people and​ even if​ you don’t intend bidding it’s still worth the​ trip to​ soak up the​ atmosphere and​ camaraderie between the​ antique car enthusiasts.

Antique Car Auctions Events

Most antique car auctions work the​ same way as​ any other kind of​ auction. the​ auction house produces a​ list of​ the​ cars that are to​ be auctioned and​ the​ dates it​ will take place. the​ cars are sometimes grouped into categories but this really depends on the​ specific auction house. the​ list of​ cars contains the​ information about the​ antique cars available. Namely the​ make, model and​ sometimes the​ owner’s details. the​ information is​ usually limited and​ the​ condition of​ cars is​ not usually stated to​ avoid any legal comebacks.

You will usually find that the​ majority of​ people at​ an​ auction are there just to​ look and​ not to​ sell or​ purchase a​ vehicle. Auctions attract lots of​ enthusiastic collectors that just love to​ be around their favorite hobby. Very often traders and​ collectors will attend to​ get an​ idea of​ the​ value of​ specific cars. Auctions are great places for​ gauging a​ price that your own vehicle maybe worth. It’s kind of​ like getting yourself a​ free appraisal.

Selling an​ antique car in​ an​ auction can be a​ bit of​ a​ hit or​ miss experience. if​ you are lucky and​ have the​ right vehicle and​ several interested people the​ price can go quite high, sometimes better than selling privately. However you take your chance that it​ may sell close to​ your reserve price or​ if​ really unlucky it​ may not sell at​ all.

Buying can be tricky and​ we would always suggest you attend several auctions before bidding so that you get an​ idea of​ how it​ works. the​ last thing you want to​ do is​ to​ cough and​ find you just bought yourself a​ vintage vehicle for​ several thousand Dollars. All bids at​ the​ fall of​ the​ hammer are legally binding and​ must be honored.

You should always be aware that once you have bought the​ car it​ is​ ‘sold as​ seen’. This means that should there be something wrong with it​ there is​ no comeback and​ it​ is​ assumed you checked the​ car thoroughly beforehand and​ was aware of​ any possible defects. Having said that you can sometimes bag yourself a​ real bargain if​ you play safe and​ don’t jump at​ the​ first car you see.

What Happens At An Antique Car Auction

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