Need advice on pricing and auctions

[Guest MichaelSocal]

Hello - I'm new to the forum.

 

Two questions:

 

1) Do any of you know of auctions that are specific for selling Buicks?

 

2) How do you properly price a car you are selling?

 

I inherited a car from the original owner. It has sentimental value to me so I would like to find someone who would take good care of it.

 

Thank you

[Larry Schramm]

Pricing is a very wide topic.  The only certain thing is that the "value" of a car is what a willing seller will sell to a willing buyer.  No more and no less.

 

As for getting a price/value for what you have age and condition are everything.  Just do not get caught up in the Barrett Jackson and similar auctions.  The prices are unrealistic for the average car that comes up for sale.

 

What do you have?  If you post some good pictures along with some information there a lot of us here that have a lot of experience in what different cars are selling for based on age and CONDITION.  Post the information and we can at least get you a ball park value.

[Ttotired]

Larry is 100% correct, but I will also add this,

The best way to get a rough idea of value is to look at cars from the same era and look at their condition and their price.

You have to look objectively, if your car and their car were parked next to each other, which one would most people choose, then look at the prices (and age of the add)

Sentimental value, while may provide a nice story to a buyer, does not add to the value of the car

You really do need to put a picture up though (might find a buyer for one thing) but if its a rusty old thing that's sat out in the open for years or a stalled restoration project, it might not be much or if its

a low mileage, un restored gem, it could be worth a bit more,

Also, wether its a desirable model, not all are.

Many things and the biggest is the buyer

Most people have an idea on how much they want for something without even asking (as you have), If someone offered you $5.00 for it, would you sell it? If not, then you must know how much you would sell it for.

If your price is low, good for the buyer and you as you both have a happy transaction, if your high, it wont sell.

 

 

[JZRIV]

As others mentioned, take several pics of exterior, interior, engine and trunk and post them. If you need help posting pics let us know. Also provide the mileage, if it runs, drives and stops well and any other interesting facts about the car. With that info folks can get a good ballpark figure for you and typically it spawns more detail questions that will fine tune the value as the process moves along.

When selling at an auction you NEVER know for sure if its going to a good home. High bidder wins and you have no choice.

Sellers concerned about that sort of thing will typically advertise in a venue where they can be selective on who they sell to.

[John_S_in_Penna]

There are several good price guides out there.

Hagerty, which is in the business of valuing cars

for insurance, has one at www.hagerty.com.

The internet site www.nada.com has a section on

antique-car values too, though theirs tend to be 

on the high side.  And Old Cars Report Price Guide,

one of the most widely used, is available on newsstands.

 

Which (if any) auction you choose depends on the

car you have.  I know of no Buick-specific auctions.

But be aware of the high prices charged by auctions--

their commissions may total 20%, and YOU the seller

are directly and indirectly paying both the buyer's

and seller's commission.  

 

If you want to sell on your own, people here can make

recommendations too.

[NC-car-guy]

I like to use the guides listed above, and search for sold prices on various auctions.  It's all about what the market will pay, not always what a guide book says.

[buick man]

Consider this I ran across regarding valuation concerns …… Unfortunately, most of the so called price guide sources rely heavily on auction results because they have easily sourced and published sales prices and more importantly are used because little time is involved or needed to come to a valuation estimate pseudo or not.  However with that said, this method lacks  the use of any stringent and realistic comprehensive methods regarding rigorous evaluation and valuation methodologies of a particular car and as a result no real true market survey determination is made.  This is also true with many classic car insurance companies and some car appraisers as well, which via convenience rather than accuracy also rely heavily on this auction method as well.  But as can be seen below, this method offers many pit falls in determining not only understandably correct value, but in determining value in a wide range and types of cars.  Also, for example for insurance purposes the best way to "Value" your car for the policy determinations is to take it to an established restorations shop and ask them what it would cost if they were to take the car in and rebuild it as new, then subtract for wear and tear using a educated best estimate.  This way one would not be a slave to faux appraisal methods as stated above nor would one be subject to a value for their car that is way below what it truly worth ….. 

 

About Auction Results: GUIDES THAT RELY SOLEY ON AUCTION RESULTS DO NOT REFLECT THE MARKET AS A WHOLE FOR MOST VEHICLES. Auctions are just one part of the collector car marketplace.  Their influence is very strong at the top end of the market and generally decreases as the cars get less expensive and more common.  

Many collectors get the impression that if they see a 1957 Chevy sell for $80,000 at a major auction, then theirs must be worth that, too.  This is not the case.  Auctions often bring above market prices for very nice cars.  The reasons are many: there's money in the audience ready to buy, egos come into play, bidders can get caught in the moment, and sometimes the cars that show up to an auction such as Barrett-Jackson or Pebble Beach are stunning, one-of-a-kind, mega-buck restorations.

Unfortunately, all is not always as it seems at auction. Sometimes prices are bid up with "phantom" bidders, cars are declared sold that aren't, and the bidding can even be completely fabricated.  In addition, dealers may bid among themselves solely to create the illusion of both interest and high values for specific cars. Shocking!

This doesn't mean that you should avoid collector car auctions.  Go to a few and observe what goes on, get a feel for how things work and decide for yourself.  If you do decide to bid, ask the seller a lot of questions.  Sellers with good cars will usually be available and more than happy to talk to you.

 

Regional factors: There are some minor regional differences in prices, mostly for vehicles under $20,000 in value. Prices traditionally tended to be highest in the northeast and on the west coast, but much of this differential has eroded. Very expensive cars operate in a global market. 

Show cars: In the not so distant past, perfect cars were quite rare. While not exactly abundant, they are far more commonplace today. Beause of this (among other things), the bar of what constitutes a perfect car is being out all the time. A #1+ concours ready classic of thirty years ago would fall short on the show field today. Regardless, now--as then--thessse vehicles have been treated to a very expensive concours quality, frame-off, no expensed spared, nut & bolt restoration and do not get driven. They can often command higher prices than CCMR's standard #1 value. 

Originality: All pricing assumes original, numbers matching engine. Deductions vary for engine swaps and can (but not always) be substantial -- be careful! Clean, totally original cars usually carry a premium relative to equivalent published prices. Original documentation is a big plus, especially on muscle cars.  Having said that, there is a trend towards "upgrading" collector cars to make them drive and perform better than when they were new while retaining stock appearance.  Depending on the model, these vehicles can suffer little to no value loss, and in fact we have seen plenty of instances where they can bring more than a pure stock example.  This market condition has weakened since 2007 and 2008, making it difficult recoup restoration expenses.  This likely means you'll see fewer of these "resto-mods" being created.  It also means that the traditional premium for original cars is returning, although all values are down from the height of the market.

High Option Vehicles: Cars & trucks that are highly optioned and/or accessorized with unique or rare factory options items such as visors, continental kits, power seats, tilt wheel, rare sound equipment etc. almost always command a premium.  Figure an extra 10% or so depending on equipment.

Edited March 2, 2017 by buick man (see edit history)

[John_S_in_Penna]

It would be really helpful if the original poster

came back and gave us more specifics,

even pictures---

[Ben Bruce aka First Born]

8 hours ago, John_S_in_Penna said:

It would be really helpful if the original poster

came back and gave us more specifics,

even pictures---

 

 Dreamer!