Know Your Stuff (unless you have money to throw away)!

Auto auctions cover a wide ranger of possibilities, everything from buying a decent car inexpensively to buying an expensive collector’s car.  You can sell a junker, donate a car you no longer need to charity, or seek a good price for a classic car you’ve personally restored.  The possibilities vary, but one thing does not:  you need to know the value of the vehicle you wish to sell or buy.

Now if you wish to bid on a one-of-a-kind item like this “ghost car,” then your decision will likely be based on it value to you, as a collector, the number of other bidders who also want it, and the amount of money you have available and are willing to pay.  Although auctioned items are typically, “as is,” the state of a collector’s item will probably be reliably stated.  If you’re a collector or wish you could be, you’ll probably enjoy this video, but I can’t imagine people in this high-priced environment often get ripped off.

However, for more ordinary needs, one thing is pretty clear, and this is you need to know the value of the car whether you’re buying or selling.  Now, if you’re a dealer, well established in the business, I probably need advice from you.  For the rest, there are places like this, that provide guides for looking up the information you need by make, model, and age.  Not only do they include information for the prospective classic car buyer, but they have guides for buying all kinds of vehicles as well as on line information.

Finally many dealers will assist you and provide an estimate to help your deliberations.  If you have a friend who is a knowledgeable mechanic, I’d encourage you to bring him to the next auction you attend because checking a vehicle’s condition is also a valuable piece of information as you determine a far price to bid.


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