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4 Tips For Buying An Antique Car At Auction

Thursday, May 5th, 2016

An antique car auction is the perfect way to get an incredible classic car at a good price. However, you should take precautions to make sure you don’t pay too much. For example, make sure you know your limit and do not go over that amount, because you cannot reverse a bid once it is given. You should follow these four tips at an antique car auction to make sure you maximize every dollar you spend.

Different types of auctions

There are two different types of auctions for antique cars. At one type you will find lower prices with lower quality vehicles. Public auctions which are put on through a city, state, or government agency will have cars that have been taken from or abandoned by owners. Cars sold through police or other law enforcement agencies will most likely have been dismantled looking for evidence and may need to be towed away. The other type of auction is a classic car show. This auction will list antique cars at a much higher bidding price, but will have more high quality vehicles.

Know what you are bidding for and how much it costs

You don’t have to go to an antique car auction looking for a specific vehicle with certain specifications. You may not know which car you are looking for beforehand, but you should know how much you can afford to bid. Have an idea of the model and year you are looking for and the price ceiling you can safely reach. Having this information in mind will prevent you from getting caught up in the auction excitement and bidding more than you can afford.

Do some research

There are websites where you can research auction histories such as Barrett-Jackson and Mecum Auctions. These websites contain prices that have been paid throughout the years on specific antique cars. If you have a make and model in mind, you can get an idea of how much money you would be willing to spend at auction.

Your local yellow pages should have the information you need to find auctions in your area. When you know what is being auctioned off, you can also check automotive websites to verify the values of antique cars. Websites with this information include Kelley Blue Book and Edmunds.

Inspect the cars

Some auctions allow you to look at the interior of a car before the bidding starts. When possible, make sure you inspect as much of the antique car as you can beforehand. Find out what the vehicle needs so you will have an idea of what you will be looking at in repairs if you purchase it.

If you would like to learn more about auctions, contact the experts at High Plains Auctioneers. Call us today at (806) 244-6776 or Contact Us by email for more information about our services. You can also view our upcoming auctions to see what we currently have available.