You own a vintage or classic car, but you recognize it’s time for it to move on to the next owner.
It’s a daunting task: choosing between the different venues available to sell your classic.
Your first priority is to find the option that yields the highest profit—but a very close second is to find a new owner who will treasure your classic as much as you have.
That’s where we can help.
We’ve listed the various venues for selling classic vehicles and provided the pros and cons for each. While we won’t make definitive statements about the classic car market (there are books on that!), this overview will start you in the right direction for a successful sale.
In-Person Auction
Due to the vast amount of television coverage of live classic car auctions over the last decade, the first sales channel that comes to mind is likely an in-person auction. While million-dollar-plus auction results make the headlines, there are auction houses that will accept cars worth as little as $25,000, meaning there’s an in-person auction for almost every classic car.
Companies that specialize in in-person classic car auctions include:
Pros of Selling Through an In-Person Auction
- Your car will be featured in targeted pre-event advertisements/communications, like the auction catalog, which will increase the likelihood of attracting potential buyers.
- They provide expert classic car evaluations, which include recommendations for setting the right selling price. Remember: Their mutual goal is to sell your car for the best price.
- They advise you on setting reserve prices so your classic or exotic car sells profitably. Set too high of a reserve, and this will limit bidding. Set too low of a reserve, and you could leave money on the table.
Cons of Selling Through an In-Person Auction
- It can be expensive with transportation costs, commissions, and fees included. It could cost $3,000 to ship a classic from the East Coast to Pebble Beach (and $3,000 more to transport it back home if it doesn’t sell).
- The auction house may accept the car only on a no-reserve basis, meaning you must take the highest bid even if it’s below your target price.
- The auction house decides when your car will be auctioned, which means you’ll need to relinquish some of the control. Auctions can run up to three or four days, with some days and times seeing better results than others.
Online Auction
Simply put, an online car auction is similar to an in-person one but is conducted digitally. Owners upload vehicle details and images to an auction website, and the auction determines whether the vehicle is the right fit. If so, the car is posted, and bidding opens.
Companies that specialize in online classic car auctions include:
- Bring a Trailer
- Cars and Bids
- AutoHunter
- eBay Motors Collector Cars (offers written support but no in-person assistance)
Pros of an Online Auction
- They connect you to a large market of interested buyers. Third parties report Bring a Trailer alone sees over 2,000,000 visits per month.
- Fees are lower than an in-person auction. On Bring a Trailer, sellers pay only a $99 listing fee.
- With an online auction, you’ll have a more extended window to present your car to potential buyers than you would with an in-person auction. eBay Motors offers up to a 21-day auction.
Cons of an Online Auction
- Competition is higher in an online auction. Online auctions can feature dozens to hundreds of other cars you’ll be competing against at any given time.
- Buyers may not fully appreciate the car’s value and will underbid accordingly, meaning you’ll struggle to hit your target price.
- You run the risk of the winning bidder backing out of the purchase. This happens to even the most experienced experienced collector car sellers.
Online Classifieds
If you believe your classic vehicle will take longer to sell than the time period allotted in an auction setting, consider posting it on an online classified site specializing in collector cars.
By selling a classic car privately on an online platform, you can run your ad as long as it takes to sell your classic. That way, you’ll have plenty of time to find the right buyer who appreciates the value of your timeless classic.
Companies that specialize in online classic and exotic car classifieds include:
Pros of Online Classified
- Online classifieds are the lowest cost option of the venues listed in this article, with no commission charged. The seller only pays the listing fee for the classified. AutoTrader Classics packages start at $59.95.
- Unlike auctions with a set time period, users can list their classics for as long as is needed to make a sale. Sometimes, it just takes time to find the right buyer.
- You can set your own price without requesting the approval of an auction house, granting you ultimate freedom to set the price you think is right. All it takes is one buyer who sees the same value in your classic car.
Cons of Online Classified
- While you have the power to make executive decisions about the price, you won’t have the on-demand expertise of pricing experts that’s available through in-person and online auction companies. As they say, with great power comes great responsibility.
- No third party qualifies the buyer, as is expected in an auction setting (in-person or online), which could lead to a buyer ghosting you after agreeing upon a price.
- There’s a higher risk of tire kickers or time wasters who don’t buy, eating up the valuable time you could spend working with genuinely interested buyers.
Photography: In-Person Auction vs. Online Auction vs. Online Classified
While auction houses will arrange for your vehicle to be professionally photographed, you’re on your own for both online auctions and classifieds.
When selling a classic car, it’s essential that you take clear photos (from multiple angles) that highlight the vehicle’s star qualities (along with any potential shortcomings). The more photos, the better. Some sites allow you to post 100+ photos in one listing.
One option is to hire a photographer experienced in shooting cars (a Google search on the term “car photographer near me” should do the trick). Some sites offer photography services, like a one-hour, 50-photo shoot through Cars and Bids for $159.
You can also capture images of your car if you’re handy with a camera or have a phone capable of taking high-res photos. If you’re unhappy with the outcome, you can always have them redone by a pro.
When taking photos of classic cars for online advertising, consider the following tips:
- Staging: Photograph your car in soft, natural light, preferably on a cloudy day or during the golden hours of early morning or late afternoon. Choose a clean, uncluttered background that doesn’t distract from the car.
- Composition: Capture multiple angles of the car, including front, rear, sides, and corners. Focus on unique features highlighting the car’s condition or restoration work.
- Details: Include clear interior images showcasing the condition of seats, dashboard, and other interior elements. Photograph the engine bay and undercarriage to display the car’s mechanical condition.
Final Thoughts
If the right opportunity for selling your classic car is taking longer than expected, and you need to free up space in your garage, consider options for storing your classic car off-site.
Neighbor, a peer-to-peer storage marketplace, offers convenient, nearby, and budget-friendly classic car storage options (including indoor and climate-controlled units ideal for luxury classic cars). Proper storage ensures your classic vehicle remains in prime condition, preserving its value until you close the sale. Explore Car Storage Near Me for reliable storage solutions.
