How to sell a classic car
Selling a classic car is a detailed process that includes making repairs, strategic marketing, and researching its value. After preparing your car for sale, determining your asking price, and advertising its availability, you can complete the sale through a variety of platforms, including online marketplaces or in-person events.
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Prepare the car for sale
Start by preparing your classic car for sale. Doing a little prep work improves your car's condition, which could increase demand and your asking price. Here are a few ways to spruce up your ride and maximize the value of your classic car:
Inspect the car
A classic car inspection includes checking the condition of the interior and exterior of the car. When inspecting the car exterior, be on the lookout for chips, scratches, or signs of faded paint. You should also check for rust in the wheel arches, door sills, undercarriage, and trunk edges. Finally, make note of any dented or misaligned body panels.
When it comes to the interior, examine the upholstery for any stains or sagging. The dashboard cosmetics should also be free of cracks and have fully functioning controls.
Keep up on maintenance
Buyers like to know that the vehicle they're buying is reliable and safe to drive. Keeping up on maintenance and keeping documentation of work to prove what was done increases your vehicle's salability at the price you want.
Detail your vehicle
Fixing cosmetic issues can greatly increase curb appeal and sale price. This can easily be done with a full detailing job. While a thorough DIY job is often good enough, a professional job that includes detailing the engine compartment and vehicle's underside can be money well spent.
Take professional photos
With today's camera phone technology, you can take professional photos of your car on your own. There are a few things that can make your classic car photos stand out, according to classic car insurance carrier Hagerty.
- Consider the weather and time of day: Varying the angle and presence of the sun and the time of day can help you get the most flattering shots of your car.
- Choose a prime location: Find a park or parking lot with a favorable background and plenty of open space. This will limit distractions and keep focus on the car. The ground should be level to keep your car's suspension from tilting or sagging.
- Find the right distance: Placing distance between you and the car ensures that your car isn't distorted in the photos. If you're using a camera phone, stand about 10 feet away from the car.
- Use video: Video allows potential buyers to get a better sense of the dimensions of the car and how the engine sounds. It also may increase engagement with your listing, as buyers are looking for as much information as possible.
- Take as many pictures as possible: The more information a potential buyer has, the better. In addition to exterior photos, a seller should also take pictures of the interior, engine compartment, and under the vehicle (if possible), being sure to take multiple, detailed photos of each area of the vehicle.
Determine the asking price
Once your classic car is ready for sale, your next step is figuring out the asking price. Your asking price depends on a few factors, including the make and model, the condition of your car, the current market, and your motivation to sell.
You can use tools like the Hagerty Valuation Tools to provide a range of prices based on your car's condition as well as sale prices from peer-to-peer, auction, and dealer sales. You can also research prices listed on classic car auction sites and online listing sites like AutoTrader Classics or ClassicCars.com.
Another option for setting your asking price is hiring a professional appraiser who specializes in classic cars. They will likely consider the market and car condition as well as the originality, quality, and cultural significance of your classic car.
Pro tip:
You can still sell a classic car that needs work, whether it's just routine maintenance or major repairs. The key is to be fully transparent about the work that needs to be done. When determining a reasonable price for the car, consider how much the buyer might have to pay for the work needed, and subtract that from your asking price. It can help to get a mechanic's perspective and estimate of the repair costs for even greater clarity.
Choose a selling method
Once you have a price in mind, you'll need to decide where to sell your classic. You have more than a few options to consider:
Selling through a dealer
A classic car dealer or broker can sell your vehicle for you. They'll manage the advertising, financial specifics, and paperwork in exchange for a fee or cut of the profit. Car dealers are licensed businesses with a public showroom. Brokers don't always have a showroom, but they use their market knowledge to find prospective buyers.
Selling online through a reputable website
You have several options for online classic car marketplaces. Some online marketplaces specialize in classic car buying and selling, such as Hagerty Marketplace, while others are more generalized with sections for car listings. When evaluating online marketplaces, it's important to find out:
- Whether your car qualifies for a listing
- How the selling and buying process works
- How much it costs, including fees
- Their audience size
- How they help protect sellers
Selling at an in-person or online auction
An auction is a popular way to sell classic cars. There are two main auction types: live and online. You can potentially reach a sizable group of prospective buyers with an auction, including international buyers. A rare classic car in excellent condition could elicit bids well above the minimum price, also called a reserve price.
However, auctions come with risks. The auctioneer might sell your car for less than it's worth if bidders don't show enough interest. In addition, the auction house usually takes a cut. You might also need to pay to ship the car to the buyer. Some auction companies specialize in a particular car type, such as Corvettes or muscle cars. Keep in mind that the auction house might only accept higher-value classic vehicles. Make sure you understand the auction terms and conditions.
Learn about buying or selling a car at an online auction.
Selling at a car show
Some car shows don't allow participants to post sales. However, a car show could be the ideal place to sell your classic car, as you'll be meeting fellow enthusiasts and interacting personally with prospective buyers.
Hagerty recommends checking the car show rules beforehand. You might need to rent a space at the corral and park in a certain spot. Create flyers in advance that include your car's make, model, condition, price, and contact information.
Selling through classified ads
Classified ads in print, online, or both, can be another effective way to sell your classic car. Many outlets offer classified ads, including newspapers, magazines, car club newsletters, and websites.
Online classified ads can reach a wider audience than print ads, but the platform's audience can make a difference. For example, a publication that focuses on your classic car type could produce more leads than a general audience publication. Wherever you advertise, make sure your listing gets placed in the correct section.
Completing the sale
Once a sale is final, you should receive a secure payment from the buyer. After receiving payment, create a bill of sale, and transfer the title. You can then deliver the vehicle as agreed to during your negotiation.
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