Classic Car Auctions
Classic car auctions are popular for both those looking to score good deals as well as those who want to sell their classic automobile.
You can find classic car auctions the world over. And classic car lovers are often willing to travel for thousands of miles to locate good deals or to find classic car models that they have pursued over the years.
Why People Attend Classic Car Auctions
If you want to get a good deal on a classic car, there's no doubt that classic car auctions is where you will find some of the best deals. The danger, however, is that you may not be the only one that wants a particular car. In this case, you can easily get caught up in the thrill of bidding and spend a lot more than you had intended.
But there are a fair number of people who attend these auctions who have no intention of building on an automobile. They are simply in love with classic automobiles and are there to get a real life view of some of the cars they have admired over the years.
Others are there, not to buy, but to get a real time idea of and to keep abreast of the market value of certain types of classic cars. Those at the auction for this purpose tend to be in the business in some fashion. They also use auctions as a means of possibly meeting new dealers, distributors, and so on who are in the classic car market.
Physical Auctions Versus Internet Auctions
In today's world, there are two types of auctions. One is the physical, in person auction. The other is the Internet auction which, since the birth of eBay, has become more and more popular.
Physical classic car auto auctions usually go for a period of 2-3 days - typically weekends. This is the best time for the highest attendance as many who would like to attend such an auction are working during the week.
As a service to the bidders, the classic cars will be lined up to give you the opportunity to thoroughly look over and inspect each car. This gives the bidder a chance to carefully look over the cars coming up for auction and determine what prices they want to bid on.
In addition, depending on the auction, the specifications on the car will be listed. And, if available, the types of restoration done on the car will be listed as well.
If you are a buyer, you will be given a buyer number. You will also receive some sort of a device with which you will communicate with auctioneer that you are bidding on a particular auto.
Once the auction begins, the auction caller, called the Auctioneer, will begin his rounds of bid taking. He will describe the lot that comes into the auction block. He then begins the bidding by naming the lowest possible bid (the reserve price) posted in the listing.
If you are lucky enough to be the highest bidder, without going over your self-imposed limit, the auctioneer will ask you to claim your new car by paying for the item in cash, cashier's check, or a suitable substitute form of cash. This is also when you will make arrangements for the transport of the car, if necessary.
An online classic car auction can be held at any time. But, even here, weekends are usually the best time to have them end. Potential bidders are, again, not distracted by work and can spend more time on their hobby. Internet auctions are also great if you love to buy classic autos but don't like to travel.
The Barrett-Jackson Annual Car auction is one of the most high-profile car auction in the U.S. Located in Palm Beach, Florida, it auctions off both classic cars and modern cars.
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