When selling a collectible car, there are companies that handle the auctioning of the car. Public auctions are another option, in which a car is registered, displayed and bid on by potential buyers. Online auctions are another way of auctioning cars.Continue Reading
If the car is in poor or broken condition, there could be buyers interested in purchasing the vehicle for scrap. A seller can register with a car show to have a dedicated spot at an auction. In order to legally sell a car, the seller must have a dealer's license or the title of the car in the seller's name.
Before selling any vehicle at auction, it's important to determine the vehicle's worth, either by using the Blue Book or by comparing the value of similar cars. It's important for the seller to be knowledgeable of the car in general, such as knowing the estimated amount of vehicles that were made for the car's particular make and model, which helps factor a price when dealing with rare and classic cars.
Selling a car through an auction company or through an online auction both cost a fee, though the online fee is usually less. A public auction takes a percentage of the sale.Learn more about Buying & Selling