Published on : 03 June 20203 min reading time
A passion for beautiful cars is not what you might call a relaxing hobby. As a big financial and sentimental investment, the purchase of a classic car (or even several) must be carefully considered. The most important thing? Knowing how to keep up to date with the good deals and opportunities of all kinds that can be found on the market. And to do this, nothing is better than participating in car auctions.
The benefits of car auctions
A place of shared passion and competition, auctions of classic cars offer many opportunities to those who are able to seize them. You can, of course, go there for the simple pleasure of it. Indeed, if you find yourself at a sale of antique, rare, sports or luxury cars, you will certainly have the chance to approach the most beautiful specimens of the best Italian, French, German, American manufacturers… Enough to fill your eyes with excitement. For those who wish to buy a car, it’s up to you to see if you prefer to go for a “coup de coeur” or if you already have the car of your dreams in mind. In any case, this type of gathering will be a good way to make new acquaintances, share your knowledge with others and, why not, get some interesting tips. Car auctions are a good way to get good deals in a good mood, so keep yourself informed of upcoming sales, whether in your area or elsewhere.
How to choose your classic car?
Of course, you shouldn’t come to car auctions with the aim of buying a lot if you don’t know anything about it. Buying a rare car (sports car or collector’s car) is an important investment. It is therefore necessary to follow some elementary but obligatory rules:
- choose your favourite period for the vehicles: oldtimers (before the war), classics (1950-1980), contemporary (after 1980)…
- choose a model with value potential (rarity and popularity, power and quality, aesthetics)
- choosing the right seller
With regard to this last recommendation, you should be aware that any purchase of a car from a private individual (and especially a rare car) involves a risk for the buyer. Therefore, it may be better to go through an auction or a dealer, even though the price of the vehicle is higher in this way.
How to sell your classic car?
Before selling a classic car, it is best to be familiar with the legislation in force in this area. In France, the seller of a collector’s item must pay a 5% tax on the sale price (except if the sale is to a museum). As far as the car is concerned, it must obviously be in the best possible condition to minimise the possibilities of negotiation with the seller. Indeed, it is obvious that the latter will be very demanding on the good condition of the bodywork, paintwork and engine, given the cost of maintaining this type of vehicle. On the other hand, if you own a car that is highly sought-after on the market, it might be more judicious to sell it at an auction. The added value generated could, therefore, be much more interesting.
The advantages of using an agent for new vehicles