In this video specialist auction house – Classic Car Auctions (CCA) and classic car expert Quentin Wilson give their Top Tips on how to buy a Classic car at auction in the UK.
Classic car sales auctions themselves can appear to be a bit of minefield. Buying and selling commissions, consignment fees, VAT and the frenzy of bidding can often leave even the most discerning classic car collector baffled.
However in comparison to other car purchasing methods, buying at auction can and should be a much more convenient and hassle free experience.
Buying a classic car from a reputable auction house, should be a far less stressful experience compared with for example the potential pitfalls of buying a classic car online. In the online world stories are common, of cars that don’t fit their description, have not been expertly checked, and then there’s the time and money spent driving to and from sellers’ homes.
In comparison a classic car auction will offer a range of cars, with each car inspected by expert teams to ensure they are as described in the catalogue. However there are a few things to be aware of when buying a classic at auction.
CCA top tips to buy a classic car at auction
Aware of some of the confusions classic car buyers at auction can face, ‘everyman’ classic car auction house CCA, (who specialise in classic cars from £5,000 to £25,000), has teamed up with TV presenter and classic car expert Quentin Wilson to compile a list of steps every bidding classic car fan can follow to ensure their auction buying experience is as enjoyable and simple as it should be.
- Research the auction house beforehand. Do they sell the kind of classic cars that you would be interested in? The best way to do this would be to visit their website and attend a sale to familiarise yourself with the process.
- Remember to take along photo ID and proof of address – it will be impossible to purchase a car without it.
- Viewing is essential. Make sure you arrive early so you can inspect the lots on offer, work out your favourites, and check vehicle details, which you will find displayed on the cars’ windscreens or discuss with a member of the team. If you’re not mechanically minded then feel free to bring along a professional to inspect the car (remember classics are second hand cars).
- Buyer’s premium and VAT will need to be paid on top of the hammer price. Always check with the auction house beforehand for details of their fees and charges.
- Listen to the auctioneer. They will provide valuable details about each car’s specification, including service history, road tax and verification of mileage.
- If the hammer falls on your bid then congratulations, you are the winning bidder! You’ll then need to see the auction clerk to discuss methods of payment
With that we wish you happy bidding! Why not check the news pages to find out about interesting classic and modern cars coming up for auction soon
Video (c) copyright CCA Classic Car Auctions – used with kind permission for editorial purposes.