What’s the best way to sell a classic car? New 2024 Guide

BySebastian

After 40+ years of experience in the car industry and selling over 100 classic cars each year I want to share my tips on how and where to sell your classic car. Read through all the options and know what is the best way to sell a classic car.

1. Classic Car auction

The first and most important question is: How to find buyers for classic cars?

One of the easiest ways of doing that is a classic car auction. This is one of the best way to sell a classic car. You consign your car and bring it to the venue. The biggest advantage is you dont have to worry about anything. They will do the selling for you, and find the right buyer. 

You even have the choice to set a reserve price, below which the car will not sell. That way you don`t have the risk of selling the car “under value”. 

The cost of consigning a car at the auction will be a fixed fee which varies depending on the day you want to sell your car. Usually weekends are the most expensive days. 

The biggest cost will be the commission fee which often varies between 8-15% of the hammer price depending on the auction. 

Car Auctions for selling your classic car:

Summary of selling a classic car at an auction:

PROS

  • uncomplicated 
  • no contact with buyer
  • fast selling method 
  • getting the money quickly 

CONS

  • consignment cost
  • commission fee 
  • lower price
  • transportation to the auction 

2. Selling Classic Car on Consignment 

Another possibilty to sell your classic car is to let a dealer handle it for you. A lot of dealers will accept consignments and will charge a commission when they successfully sell your car. This is negotiable most of the time. Searching for a well known dealer with good reviews is crutial to have a trustworthy partner. 

PROS

  • professional contact person
  • self-determine the price 
  • trustworthy partner
  • no contact with buyer

CONS

  • possible long waiting time 
  • commission fee  

3. offering your classic car in magazines

To offer your car in a local or national classic car magazine is a good way to get contact to potential buyers. Even nowadays there are a lot of people who prefer newspapers and magazines over the internet. To place an ad is a great way to target this audience. With the possibility to include a nice picture of your car in the ad, you have the chance to stand out and present your jewel to all readers.

PROS

  • low cost 
  • self determine the price
  • stand out with a picture
  • no commission fee

CONS

  • getting a lot of calls / emails
  • dealing with potential buyers
  • time-consuming
  • making test drives
  • smaller audience

4. Selling your classic car online 

Nowadays everything is being sold online, classic cars are no exception . We have a variety of different platforms where it is possible to sell a classic car. While there are a lot of classics on auto trader, there are a few others which offer a better targeted audience. 

Here is a selection of online platforms to sell a classic car :

PROS

  • setting your desired price
  • independent 
  • low cost
  • big audience

CONS

  • time-consuming
  • contact with buyers
  • scheduling inspection appointments and test drives

5. Selling your Classic Car directly to a Dealer

The probably fastest way of selling your car is to either trade it in while buying a new car at a dealership or to sell it directly. Here should also be the priority to find a trustworthy dealer, with 5-Star ratings and good reviews on google. It is probably also the easiest way. You schedule an appointment, get an evaluation and decide if you want to accept the stated price. Keep in mind that you might get a better deal if you buy a car and trade in your classic. 

PROS

  • easy transaction
  • possibilty to trade in for a new car
  • trustworthy partner
  • getting paid fast 

CONS

  • lower price

Conclusion: 

There are many ways and possibilities to sell a classic car. Depending on preferences you can choose between many platforms. Be advised that there are always trade offs you have to consider. The fastest way may get you a lower price. The easiest way might cost you a high commission fee. 

But wait, until you are ready to sell your car, you should know how to protect it and what’s the best car cover for your classic. Click HERE to get information about the best covers for your classic.

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