For many classic car collectors across the globe, the month of January is going to cater to their unquenchable passion for classic cars. Sales from auction events is predicted to cross the $182 million mark. The Scottsdale Collector Car Auction Week, beginning on 13th Jan 2013, is going to be a haven of wonderfully difficult choices for bidders, with 2200 cars from five top notch auction houses slated to be on display.
· The Barrett Jackson Auction Company will showcase their exclusive salon collection, consisting of 50 of the world’s most highly sought after and valuable cars.
· Russso and Steel is back at the auction with a rare 1966 Mustang Trans-AM race car, and an unrestored, rare 1970 Hemi Cuda fitted with a 4-speed transmission.
· The Bonhams Auction House represents the Oldenburg Family’s Automobile collection, consisting of more than 30 rare classic cars.
· Gooding and Company will showcase a priceless, glittering midnight blue, 1958 Ferrari 250 GT LWB California Spider (1037 GT). The car is expected to sell between $5,500,000 – $7,000,000.
· The RM Auction House will feature a 1960 Ferrari 250 GT SWB Brelinetta- the 17th of the 74 Competizone SWB produced, and a glittering and well-documented 1965 Ford GT40 in pine green.
Making the proper choices to get the best deal is an imperative prerequisite in winning the bidding game. Know the choice of car(s) you want to buy at the auction, do conclusive research on the cars you are going to bid on, and understand the history of the cars and past owners. Finally stick to your budget, to get your money’s worth.
Research to fix on what you want: While the Barrett-Jackson website can give you the prices of cars of a specific make and model, for a particular year, automotive valuation sites like Kelley Blue Book will help you understand how different cars are valued. You can then decide if it’s a beautiful Chevrolet Camaro, a Canary 1965 Ford Mustang, or a 1970 Pontiac you want to bid on, and what your maximum bid limit would be.
How to Bargain: Compare pricing information for classic cars by going through Hemmings, the NADA Gold Book, eBay, specialized club websites or newsletters so you can figure out your trump cards when bargaining or negotiating.
Inspect and Inspect Some More: Check to see if the car's overall visible condition is good. Closely inspect paintwork, tires, interiors, carpets, seats. You will know after a few inspections if a car has just been prepped up for the auction, by greasing, painting and detailing, or has been maintained well over the years.
And finally getting collector car insurance is a must in order to protect your classic beauty from damage. Classic Auto Insurance has the best quotes available for you, along with tailored plans that fit every Classic Car owner’s budget.
About the Author
Drew Yagodnik is Vice President of Classic Automobile Insurance Agency, Inc. Classic Automobile Insurance Agency has been protecting collector, classic and exotics since 1992.