Selling at Auction

Advantages and Disadvantages

It's clear-cut, simple and ideal for executors, finance houses and bailiffs who may be audited and must not show any favours.

Ordinary cars sold this way usually fetch no more than trade price, less the auction house entry fee and less commission.

Though now auctions are populated by increasing numbers of private buyers, usually outnumbering traders. BCA saw an opportunity here and launched 'Sure Sell' (www.sure-sell.info) a special section for private sellers where, because the cars are from private vendors, they often sell for more than trade money. The great benefits to private vendors are, of course, not having to deal with undesirables on their doorstep, and not being plagued with phone calls from charlatans offering to sell their car for a fee.

'Top Cars' may or may not sell to a member of the public, but they usually need a bit of 'encouraging' to fetch top money - either from Joe Public or from a franchised dealer attending the auction who has an order for precisely that car.

Specialist cars in high demand and short supply will achieve what the people in the auction house that day are prepared to pay. 'Top Car' sales are often used by specialists who deal in such cars to test market price levels so they know what to pay and what to sell for. The classified ads in the weekend newspapers are no true indication because they are often placed by speculators who have bought in too late for too much money and missed the 'overs' market. On the other hand, a car for which demand suddenly exceeds supply may sell for considerably more than the speculators are asking.

Executors who have classic cars to dispose of as part of the deceased's estate will usually get a better price selling at auction than they will from any dealer.