Did you know that more than 2 million classic cars are sold at auction every year? And, if you’re looking for a way to sell your classic car online, then consider an online auction. If you are interested in selling your classic vehicle at auction, this blog post is for you. We’ll run through the basics of what to expect and how to get started with an online car auction.
How to Sell a Car At Auction Online: Guide for First-Time Sellers
It’s a common misconception that classic car auctions are only for those who can afford to buy new cars. In reality, anyone with a vintage vehicle in good condition and the patience to wait for auction day may be able to sell their car at an online auction. Buying and selling at auctions can be daunting, but it doesn’t have to be. Here are some tips that will help you make the process as easy and stress-free as possible.
Online Auctions Are a Great Way to Sell Classic Vehicles and Get What Your Car Is Worth
A Comprehensive Guide to Selling Your Car At An Auto Auction
Online auctions are classified as either live or online only with no in-person bidding allowed onsite. As opposed to those in-person at an auction house, in this type of sale, all bids come from potential buyers who register and bid via computer or smartphone. This can be done through websites for both private sellers and dealerships attempting to liquidate inventory.
To make things easier, many sites also allow bidders to monitor their status while waiting for pre-designated countdown periods known as “countdowns” which end when the lot closes. It’s during these countdowns that bidders will place their bids.
Why Sell Your Vehicle At Auction?
The benefits of choosing to sell your classic car at auction are that you can typically get a better deal on the price, due to how competitive bidders become when watching for an opportunity to purchase rare vehicles or models with low production numbers. The downside is that there’s no guarantee how high the bidding will go and it may take longer than other methods if nobody makes a bid within the countdown period.