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August 26, 2008

Classic Car Auction Tips And Pitfalls

Filed under: Classic Cars — Admin @ 10:08 am

Most people agree that there is a special something about seeing a gloriously restored vintage car making its way along the highway. Such a sight stirs up wonderful memories and brings smiles to those who give their attention to the gleaming chrome and alluring lines of vehicles of earlier days. One of the best places to enjoy such sights is at a classic car auction where you might be tempted to start bidding so you can drive home a prized vintage vehicle.

Classic car auctions have long been a favorite type of event for car lovers of all ages to attend. Before the bidding gets underway, which can get rather heated with an enthusiastic crowd, there is a period of time when people can meander through the displays of the vintage models and appreciate the timeless and elegant lines of the cars that will soon be offered on the auction block.

The classic car auction events are considerably different than the average public auto auctions, which are more common and easy to find. The public car auction events primarily feature seized cars, repossessed cars and salvage car components. Rarely will they have the kinds of vehicles found at a collector car auction.

In the case of public auto auctions, people hope to find a decent car at a good price that will get them to and from work. Seldom will there be much of a bidding war on the very average and ordinary vehicles that are seen at government auto auctions and the like. But all the rules change when attending a collector car auction with an enthusiastic group of avid car collectors who know all about every model and who are looking forward to either starting their own collection or adding to one they already have.

Even if you aren’t attending to buy, the auction is still worth a visit if you have an interest in classic cars. All grouped in one place for you to check out the wide range of cars from many different eras, which are in immaculate shape, having been lovingly and attentively restored, and are sometimes an improvement over the original model.

Because the market for the classic, collectible cars is a fairly tight market and there is so much interest in the vintage vehicles that are either still in great shape or that have been restored, a collector car auction is not the place to look for a bargain. If a particular model of a classic car is rather rare or in high demand, then there could be an intense bidding war that will drive the winning bid much higher than any Blue Book estimate. As antique collectables, the classic car game can bring huge profits and is worth considering if you have a genuine interest in starting an antique business.

At the same time, sometimes you can get a better deal through a classic car auction than if you were to buy directly from a private owner. It all comes down to who else happens to attend the collector car auction and how determined they are to have that vehicle in their garage, instead of yours.

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