Auction Fever Continues
Classic Car News
Classicmobilia E’News Issue 125 May 2021
Dear Classic Car Enthusiast
Here we all are, poised, waiting for the floodgates to open as so many of us slide into those old leather seats, ready to drive off into the new dawn, showing off our pride and joy and looking forward to meeting up again with like-minded individuals. This IS the end of the tunnel, and the light is strong. Another month has gone and another twist in the market has been recorded.
Let’s see how many cars we can sell through an on-line auction as the general fever continues.
Talking to the dealer network reveals that the overall feeling is one of buoyancy and positive vibes, the market seems to be moving upwards and a strong May is on the cards. We are seeing a lot of cars moving out of the showrooms, which - as an industry - is pleasing to see, and some good cars are selling well.
On the other hand, we are in auction season, so it’s a case of how many cars we can sell through on-line auctions, as the proverbial saying “making hay while the sun shines” goes.
We are in the enviable position of being able to see a large number of cars being auctioned lately, and – truth be told - it is a minefield: poorly prepared cars, cars with very little or no history etc… a shady background seems to be flavour of the month.
The whole auction process is changing substantially, and we cannot emphasise enough how important it is to get those cars checked over before any auction takes place. Do question why there is no history, there has to be a reason!
Remember, the auction house is there to help, and when they seem to struggle with answers, be very, very careful.
On visiting a well-known auction with a client the other day, I could not believe how many questions I was being asked. It was so refreshing to see buyers going out of their way to dig that little bit deeper. Fortunately, the car in question was a good one with history and the interested party did go ahead with the purchase, ticking all the right boxes in the process.
I am looking forward to seeing it out and about in the coming months: when you are involved with the purchasing, the car becomes a little bit ‘yours’, as you feel you are closer to it than to other, anonymous sales.
In the last few months we have been asked about buying and selling classic cars with Crypto currency. Before you go any further, make sure you know and understand Crypto currency, and how fast it can move, up OR down; find a known broker who is able to advise. In short, it can work if handled correctly.
We all have to move with the times and even though we are dealing with classic and vintage cars there is always something new or unexpected onthe horizon.
We must not be forced into thinking that the market value of a good car is the same as the last one (of that marque and model) which sold at auction, so please do your own in-depth checks; do not be influenced by the shortcomings highlighted in magazine reports, but rather talk to an expert or a good dealer, as we can give good advice.
The same goes for restoration: every day there is something new, but please be mindful of what you are choosing to own, do your in-depth checks and find out what works and what may just be an easy way out of an unhappy ownership.
If you would like advice or assistance with buying, selling or a restoration project, we are here with a sympathetic ear.
Advice on buying or selling your classic or straight-talking help with restoration projects, we are here to assist.
Need support with importing, exporting or registrations? Let’s talk.
Happy Motoring and Keep Safe