If you have been following along on our blog you know we mostly discuss the restoration and maintenance of classic cars, but there are occasions when there is a need to sell your vintage car. When that time comes is your classic car ready to sell?
There are many reasons that you may want or need to part ways with your classic car or truck. We certainly hope it is to make room for a new classic to add to your collection. Regardless of your reasons to sell, we want to offer some advice to help you get ready.
Many of our tips require research, doing some work and even investing a little more time and money to make sure you get the best-selling price possible. Here are some of the things you can do to get your classic car ready to sell.
Determine the Value
Get a professional appraisal. It is worth spending the money to know their true value of your collector classic. Professional appraisers are much more familiar with the market and can give you a better idea of what your vehicle is worth. Plus, it will install confidence in the buyer if they see the price was set by an expert in the industry. There are also online tools like the NADA Guides and Hagerty’s Valuation Tool or even reviewing other cars for sell similar to yours on eBay or in Hemmings News that can help you figure out a starting price.
Fix Minor Repairs
Having your classic in tip-top shape will help ensure you get the best price when selling. Fixing minor issues will increase the overall value of the car and make it more desirable to buyers, letting you set a higher asking price. As the old saying goes the devil is in the details; so, make sure you address all those little items that can affect the price especially the classic car’s appearance such as fixing any damaged trim, touching up damaged paint and painting any parts that are supposed to be painted but has worn off.
Give a Full Disclosure
This means telling buyers the good, the bad and the ugly. Not only will it put the buyer at ease knowing you are an honest seller, but it will also keep you from having any post-sale issues if any problems should arise that you have already notified them about. The more you can tell a buyer about the car, the better chance you have of selling it. Having a full history about the car is almost priceless. If you have any other paperwork, make sure you present that to the buyer too.
Make it Shine
This should be common sense but showing a clean vehicle will help you get top dollar. This includes cleaning the interior, the trunk, degrease the engine as well as polishing the chrome and waxing the paint. Consider using a professional detailer. It may cost you a couple hundred dollars, but the pros are efficient and usually can do a better job than your average Joe.
Plenty of Photos
A picture speaks a thousand works so the more pictures you have at a variety of angles can be especially important to sell your prized classic car. These photos should include all areas of the exterior, interior, engine compartment, trunk and even under the car. Take them with the doors, hood, and trunk both open and closed; and if you have a convertible then with both the top up and down. Take the photos close enough to give a real view of the car’s conditions.
Advertise
Most classic car sales begin on the Internet. Websites like ClassicCars.com, AutoTrader Classics, and Hemmings News are great places to showcase your classic car or truck. Local print ads can also be a decent way to get the word out. Try your local paper or a classic car publication. It is all about having the right ad in the right place at the right time. Be sure to create your ads with keywords that will help justify the price you are asking. “Super Clean, “One Owner,” “Fully Restored,” etc. are just a few ideas to keep in mind when describing your classic car for sale. You should also include as many pictures as you can. At a minimum you should include one shot of each side of the car, one of the interior and one engine shot.
Always Be Accessible
If a buyer cannot get ahold of you, you are going to have a tough time selling your classic car or truck. You need to be available, accessible, and prompt in returning messages. It is a good idea to place your phone number and email address in all of your advertising. Check voice mails and email regularly so you do not miss the sale.
Be Careful Using for Sale Signage
If you decide to put a “For Sale” sign in your classic, be sure to remove the sign at night and always display it in a safe location. For Sale signs are notorious for attracting crooks. It is likely that you will not be around to check on the vehicle regularly and criminals know this and often take advantage of the siting target.
Using a Broker Service
It is certainly advisable to hire the services of a broker if you are selling a high-priced classic. They often have sellers in mind for your valuable collector’s item. Make sure you get all terms and conditions in writing including their marketing plan, time frame and the commission percentage they are expecting to make from the sale.
Look Out for Bad Guys
Unfortunately, there are bad guys out there waiting for the perfect chance to attack. That is why you always need to keep the original title, registration, and other original paperwork in a secure location. Make sure you block out title numbers and addresses on any copies otherwise this information could be used against you to obtain a duplicate title.
It is never easy to part ways with a vehicle with which you have bonded. Again, we hope that the reasons for selling are positive. Follow these steps to make the process as painless as possible and get the most out of the sale.
Be Ready to Negotiate
Very few sales occur at the asking price, and this may seem obvious but have a bottom-line number in mind before you place your car on the market, so you are ready to make a deal. If you have someone ready and able to buy, then confidence in your bottom line will help to get the deal closed.
Finally
Selling your classic car can be difficult and in some cases emotionally difficult to do, but in working with a number of people to sell there classics it is best to take your time and get all of the above together before putting the car on the market. Far too often I have delt with the “stutter step” of classic car sales where the car is “sort of for sale” at an unrealistic asking price. Once possible buyers see the car floating around the market for a while with price changes over time it is very difficult to get buyers to make realistic offer and commit to a purchase. If you want to “test the water” that is fine, but if you are not ready to sell then pull the car off the market for a period of time before trying again. Unfortunately selling a classic car is like “ripping the band-aid off” process.
I’ve got a few classics