Classic Muscle Car Auctions
As you can imagine auctions have a long and rich history. We will get to Classic Muscle Car auctions in a moment; for now we will learn a bit from a rich past.
Auctions were used by ancient societies to buy and sell wives. (OK, I know that you are probably making the Classic Muscle Car comparison to the love of a wife.) They were also used to sell the spoils of war by ancient gladiator type of civilizations.
The word Auction comes from the root word to Augment. Which means to increase or "Bid". The first auction houses were in Stockholm Sweden and related to the Christie's book auctions. Christie's is still the largest auction house in the world.
As American's, we are probably more used to country type of auctions. We auctioned cattle and livestock with a good old fashioned Hog Caller flayer.
Our British counterparts performed their auctions in cushy hob nob style. The auctioneers of such places are more than likely wearing a 3 piece suit or tuxedo. Your probably the one paying for that tuxedo or campaign as well (wink wink).
Classic Car Auctions
Today there are several auction houses that specialize in classic collector cars. Barret Jackson Collector Car Auction, Mecum auto auction, Gooding & Company Classic Car auction, and of course the RM auction at Monaco; to name a few.
There are literally a dozen shows around purchasing and flipping cars for cash. If you have ever seen the cable TV show Chasing Cars then you know that elite auctions are great places for selling cars. They bring top dollar; including hundreds of thousands and at times even millions of dollars.
If you don't want to spend "elite" money; then you may want to buy on ebay or at a local auction or from an individual and sell at one of these top outlets.
That's a trick I learned from Granma; buy where things are plentiful and sell where things are scarce. In this instance it's money that is plentiful at elite auctions and scarce at barn auctions.
The scarcity rule is built into classic cars. Where there were once 100,000 units built; today only a few thousand are left. Tomarrow the number of survivors will be reduced down again. If you've invested, that means your value has increased!
My Grandparents owned an antique shop. They would buy at barn auctions in upstate New York and drove them to their little antique shop in McKinney Texas. I worked for my Grandma and I actually got to name it. It was called "Granny's Antiques".
Early on I learned the value or rare and beautiful things. One man's junk is another man's treasure. This is coupled with the law of supply and demand. The more rare a thing it; the more it's worth.
This is why antiques increase in value over the years. I have never heard of them decreasing in value. That's not to say that you couldn't overpay for something.
Antiques or classics are a bit of an investment; but one that's worth making. I have seen my Grandma spend .25 cents at a yard sale and get a $75 sale at her antique shop the next week for that very same item.
I suggest purchasing cars within the continental United States. Read the description fully. Who knows what hidden info that you will discover. In the olden days you would have to worry about guys putting sawdust in the oil to quit a knock. Nowadays you have to worry about someone selling a postcard of a car instead of the car itself. Always read before bidding.
Don't worry so much about shipping. Just know that this expense can cost you something like $500 bucks. Nevertheless, the money saved can by huge.
I have seen cars sell on ebay for $7,000 then wind up a few weeks later on a Classic Car Brokers website for $25,000. They did absolutely nothing but relocate the car, take new pictures and sell it slower. Spending even $1,000 in shipping is well worth the reduced price tag.
No Reserve is a good thing. This whole accepts best offer that exists now is a bit odd. I mean if you didn't have a reserve then you would definitely accept the best offer-right? Guys who need to sell their car quick for the cash sell no reserve. Guys that are there to make a profit or get their money back put a reserve on it. I would consider bidding anyway, simply due to some low reserve situations.
Auctions started as a way to sell items quickly and generate enough excitement to do so. They vary from upper crust fancy pants style to Country Cousins to ebay . Auctions can be a great way to save money and get a great classic muscle car for a low dollar investment.
I wouldn't waste my time and gas money to travel to a muscle car auction when you can get more car for less money and hove a larger selection of vehicles to choose from.
Auction prices are typically lower than book value. It's still a good idea to know what book value is, in order to insure that you are saving money.
If your shopping on ebay, you can open a second window and go to autotrader.com and search for the same car. You will see what they are going for across the United States. This is the true retail price.
then go back to ebay and place an educated maximum bid. If you are truly savvy; you do that it's last 15 minutes, and get a terrific bargain.
7 Million Dollars
Which auction would you rather buy at?
The above video depicts a GT40 selling for 7 Million dollars at auction. The GT40 is an iconic piece of American heritage; known as the Ferrari eater.
The below vehicle "Bat Mobile" went for over 4 Million dollars. Also a piece of iconic American heritage.
If you can buy when these are cheap; and sell when they go for big bucks; then a few deals like this is all that you need to retire on.
4.2 Million Dollar BatMobile
- Aston Martin DB 6 - Classic Car Hire
Aston Martin DB 6 Hire - Hire a classic Aston Martin in Cornwall & Devon. Ideal for special breaks and celebrations.
Classic Car Escape
If you Can't afford to buy a Classic Muscle Car at Auction; you can always rent one. Classic Cornwall & Devon has a James Bond Aston Martin DB6!