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How to sell a car at auction ?

Discussion in 'Ferrari Discussion (not model specific)' started by WILLIAM H, Mar 9, 2004.

  1. WILLIAM H

    WILLIAM H Three Time F1 World Champ

    Nov 1, 2003
    34,891
    Victory Circle
    Full Name:
    HUBBSTER
    Has any1 sold a car at auction ? Can you give me some tips on what to look out for ? I want to sell my 86 Countach 5000 QV and buy a Daytona spyder or maybe a TR spyder with the $. I think auction is much better than just trading it in as I think I can get a lot more $ at auction.
     
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  3. sherpa23

    sherpa23 F1 Veteran
    Silver Subscribed Owner

    May 28, 2003
    9,501
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    Full Name:
    Bastuna

    William, you have a PM.
     
  4. 134282

    134282 Four Time F1 World Champ
    BANNED

    Aug 3, 2002
    40,647
    California
    Full Name:
    Carbon McCoy
    You're selling the Countach...?!? :::Gasp!:::

    Say it ain't so...!
     
  5. Texas Forever

    Texas Forever Four Time F1 World Champ
    Rossa Subscribed

    Apr 28, 2003
    45,105
    Texas!
    William, I'd be interesting in hearing what you find out. I'm thinking of selling a Porsche that I have stashed in CT and the Mannhien auction in PA. Are you thinking of a public auction like RM or somebody like that?

    DrTax
     
  6. gabriel

    gabriel Formula 3

    I'm certainly interested in how you make out. - I've sold aircraft on Ebay with very good results. Just be ready for a TON of questions unless you provide every detail that you can think of. I started my auctions a bit lower than I wanted, but with no reserve, and free delivery in the US. That seemed to attract quite a few buyers, with the results being more than I expected. :)

    I always include a phase like thee following:

    10% deposit by wire transfer within 48 hrs of close required

    The wire eliminates any problems with fake bank checks, delays, etc. and lets you know if the buyer is a non-payer in enough time to offer it to the next highest bidder. Any problems, you have the money and the car.

    For how much are you thinking of listing?
     
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  8. Boxer12

    Boxer12 Formula 3

    Jun 1, 2003
    1,672
    I have gone to Auburn a few times, and No Reserve works best. It gets more people in the action. It is also important to have the right crowd, so choosing your auction will determine the audience. Choose wisely.
     
  9. sagaponack

    sagaponack Formula Junior

    Nov 2, 2003
    519
    Full Name:
    Rob
    Hints for selling at auction:

    1. Register in time so you get a picture in the brochure

    2. Full detailing--Don't try to sell a dirty car. (many people do, believe it or not)

    3. For three day weekend auctions like BJ, pay for placement on Saturday afternoon. (Friday people are gauging the market and getting warmed up and they feel comforatble by Saturday)

    4. Full documentation service records, all keys, covers, manuals

    5. Drive the car yourself from the holding area to the auction block. This is a major pain, but, many people miss the pre-sale viewing and do the inspections as the cars are queing and you need to be there to answer questions.

    6. Auctioneers will try harder for no reserve cars. They will work it. It is a good strategy for low value cars or cars where there is a very wide buyer universe, I am unsure of where your car fits in here. Regardless, you can lift the reserve on the block and the auctioneers will give you a few more minutes of block time

    7 Make sure you calculate sellers fees, listing fees, and transportation into your alchemy do decide whether or not you should go the auction route.


    Rob


    www.bridgehamptonmotoringclub.com

    The Finest Collector Car Storage Facility on the Planet
     
  10. F40

    F40 F1 Rookie

    Apr 16, 2003
    3,227
    Bring it to Barrett Jackson next year and call it a muscle car.
     

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