Tips for buy vintage cars at auctions: My experience and secrets for a winning bid.
If, like me, you are passionate about vintage carsYou've probably dreamed of winning a rare item at auction. The problem? Auctions can be a minefield if you don't know exactly what you're doing.
I've seen it all, from people walking away with real gems to those who paid a high price for a walking nightmare. So if you're thinking about diving into this world, let me tell you everything I learned so you don't fall into any traps and take home a true classic.
1. Understand how an auction works before placing a bid
It may seem obvious, but many people come to an auction without understanding the rules of the game. And I've seen it cost dearly. First of all, read the event rules carefully:
- How does payment work?
- What are the additional fees?
- Can the car be inspected before the auction?
- Is there any kind of guarantee?
Golden Tip: Some auctions charge a fee commission on the amount soldSo, don't just think about the price of the car: factor these expenses into the bill before getting excited about a high offer.
2. Do your homework: Research the car you want
Entering an auction without knowing exactly what you're looking for is like going to the supermarket when you're hungry: you go out and buy anything and everything, and you might end up regretting it. Before the event, check out what models will be available and study each one:
- How much does this model usually cost on the market?
- What are the most common problems you may have?
- Are spare parts easy to find?
- Is the restoration cost viable?
I've seen people buy seemingly cheap cars that needed parts that were impossible to find, turning the project into a bottomless pit. Don't be that person.
3. Inspection is everything: see the car in person (if possible)
If the auction allows viewing before the event, see the cars yourselfThis can save you a lot of headaches. I always carry a flashlight and a magnet; I'll explain why.
What to look for in the inspection?
- Oxide and rust: Pass a magnet across the body. If it doesn't stick to some areas, there may be excess plastic grease covering the rust.
- Alignment of parts: The doors, hood, and trunk should close tightly. If they're misaligned, it could be a sign of a serious accident in the past.
- Car interior: Loose carpeting can hide rotten floors. Check whether the dashboard and seats are original or need to be refinished.
- Engine and mechanical part: If you can, start the car and listen to the engine. Metallic banging or excessive smoke are warning signs.
If you can't see the car in person, ask for as many photos as possible and, if possible, a video of the engine running.
4. Have a budget and don't exceed your limit
The adrenaline rush of the auction can lead to mistakes. I've seen people pay well above market value just because they didn't want to lose a bid. Set a limit and be disciplined. Remember:
- The price of the car is not the only expenseThere are taxes, documentation, transportation, and possible repairs.
- If the car needs restoration, Make an approximate calculation of the total cost before purchasing it.
- Always have an extra reserve. Unforeseen events happen.
If the price exceeds your budget, walk away from the offer. There will always be other opportunities.
How much I spent restoring a classic car: my experience
5. Beware of prices that are too low
If a classic car is too cheap, something is wrong. And that applies to any business. I've seen models that seemed like bargains, but when I investigated, they had:
- Irregular documentation
- Renamed chassis
- Engine replaced with a non-original one.
- Completely rotten structures
In these cases, cheap is VERY expensive. You'd rather pay a little more for something intact than save money on the purchase and spend twice as much on the restoration.
6. Understanding auction types: there are important differences
There are different types of auctions, and each has its own particularities:
- Collectors' auctions: They are the most reliable and usually have cars in good condition, but the prices are higher.
- Insurance company auctions: These are usually cars that have been in accidents. It may be worth it if the damage is minor, but be careful.
- Judicial auctions: Cars that have been impounded or are pending legal proceedings. Please carefully review the documentation before bidding.
- Online Auctions: They can be a good option, but require as much information and photographs as possible before purchasing.
If it's your first time, I recommend starting with one collector's auction, where there is less risk of unpleasant surprises.
7. Closing the deal: don't forget the bureaucracy
If you made the winning bid, congratulations! But don't worry, there's still the annoying part: the paperwork. Before completing the payment, make sure that:
- The car has regular documentation.
- There is no outstanding debts.
- You know exactly When and how to remove the car from the auction yard.
Some auctions don't allow returns, so everything should be clear before signing anything.
Is it worth buying vintage cars at auction?
If you follow all these steps, the answer is a resounding YES. Buying a classic car at auction can be an incredible experience and is often cheaper than buying from a dealership. But the secret is in the details.
I've seen friends walk away from auctions with real finds and others with headaches that lasted months. The difference? Research, patience and a critical eye.
So, if you're ready to make your first offer, come prepared. And remember: an antique car isn't just a vehicle—it's a story on wheels. Choose well, take care of it and enjoy the journey.
He's been passionate about classic cars for as long as he can remember. His story began in his grandfather's garage, watching the painstaking restoration of a 1957 Chevrolet Bel Air. It was in that space, amid the smell of grease and the stories told, that he discovered his love for old four-wheelers.