Sell a Classic Car

Classic cars come in many shapes and sizes. From sportier models like ’59 Cadillac Convertible to the plusher, more creature comfortable Humber, your classic car could hold a tremendous value to the right buyer. If you’ve inherited your classic vehicle and aren’t as knowledgeable about the classic car market, or if you’re not much a gearhead but came into possession of classic automobile one way or another, you may be struggling with how to go about selling it. To get the best price for your classic, you’ll have to invest some time getting the car ready for sale, and some research to find the best market.

Steps

Researching Your Car and the Market

1. Estimate the value of your classic car. There are many services, both online and in person, that you can make use of to establish the approximate value of your car. These estimates will vary, as the true determining factor of your vehicle’s worth will be dependent on time, condition, and the buyer. For example, a buyer may be willing to pay well over the listed price of a vehicle due to the fact that your classic reminds him of his first car.
   • Set the price of your vehicle slightly above its projected worth. This way, you can allow yourself to be bargained down without taking a loss.
   • Local collectors often have forums that you can find with a general online search. These are great places to see how similar or same model cars are selling in your region.
   • You might also take your car to a professional assessor. You may have to pay a fee for this, or you could always have your car assessed under the guise of using a consignment service, only to change your mind once you know the ballpark value of your classic car.
2. Determine the best venue for selling your vehicle. In some cases, this might be an auto auction. In other cases, you might find an online posting would best for your classic car. Venue will largely depend on the kind of classic car you are trying to sell. If you are unwilling to put in the time and effort into finding the best venue, you can always sell your car to a dealer or have it consigned.
   • Selling to a dealer or having your car consigned, which is where someone else sells your car for a fee, will earn you less money from the sale but diminish hassle considerably.
   • Auto auctions will also have associated fees for providing a venue, sometimes costing a buyer or seller a percentage of the amount paid. Do your homework on the auction house you are considering before agreeing to auction your car there.
   • Posting your car along with its description and general information on a classic car automotive listing service is generally the most cost effective route for selling your vehicle. These often only require a fee per each posting. Posting your car for several months, however, could end up costing you a pretty penny.
3. Highlight and provide proof for rare characteristics. This can be anything from uncommon color combinations to fully-loaded features, or even a souped-up engine under the hood of a classic muscle car. When making a claim that a feature is rare, you should have some kind of proof to back this claim up. Usually, this comes in the form of production numbers, which you can request from the car manufacturer.
   • History can also play a part in raising the value of your car. For example, if your car was once owned by a famous person, or used in a movie, your car might be worth more than its original estimate.
   • Do some research so that you know instances where your classic took the spotlight. You could raise your car's esteem in the eyes of buyers if you mention it was featured in a classic TV show, movie, or automotive exhibition.
4. Investigate international markets. While your classic car might be desirable to collectors in the region you live, it will be less exotic in your region, as it was likely produced and distributed there. In a foreign market, however, where your car will likely be even rarer. However, your classic car will need to be a worthy value to justify the expense of transporting a car internationally.
   • You might also want to look into the fuel and emission standards for the country you are considering advertising your car in. Even avid collectors might pass on your vehicle if their country's laws disallow them from driving the vehicle.
   • For example, if your fixer-upper classic is only worth an estimated $20,000, many buyers might not consider it worthwhile to pay international shipping fees, which can range as high as $5,000.

Selling Your Car

1. Time the listing of your car for best results. While you never know when an interested buyer will make a bid on your classic car, generally speaking, the summer months bode best for selling. Winter months can be especially slow, as many people will have budgeted money for holiday expenses, leaving less free cash available to buy a classy set of wheels.
   • While selling your car in the off-months of fall and winter is possible, you may have to adjust your price lower than you had planned.
   • Economic factors, like fuel shortages or increased gas prices, can also influence the sale of your car. You can improve your changes by selling while car related expenses, like gas, are low.
2. List your car. Now that you’ve decided on a venue or agent, like you would have with an auto consignment, you should have your car listed with photos, a description, and a list of special features that might interest prospective buyers. Be as honest as possible in your listing to promote honesty throughout your transaction.
   • Although honesty is important, you shouldn’t feel like you have to explain every ding or age-related flaw on the vehicle. Classic cars are expected to have some age and use related deterioration.
   • You may have to pay some fees to have your vehicle listed on a site that sells classic cars. As these differ greatly according to site, you should investigate your particular venue for listing and budget for the cost.
   • Vehicle auctions are popular places to sell your classic car. Each auction house will have its own fee system. In some cases, this might be a buyer's commission, in other cases this may be a seller's commission, where you'll have to pay a percentage of the money made on your car sale.
3. Meet in person with prospective buyers. Many buyers will want to see your classic car with their own eyes, and may even bring along an automotive expert or automotive savvy friend to help assess your vehicle. Have information on hand about the car’s history, and answer any questions your buyer has as honestly as possible.
   • When someone calls about the car, arrange a time when he can come evaluate the car in person. Even the best photos of your vehicle will not be a perfect substitute for seeing the real thing in person.
   • If you are uncomfortable meeting a prospective buyer alone, you should invite a friend to keep you company at the time of the inspection. You could also call a friend and let him know when you will be showing the car. This way he can be on the lookout for your text or call should any problems arise.
   • It's always a good idea to get information up front from prospective buyers. A major question you should ask before meeting: "Will you be viewing the car alone, or should I expect a guest to come with you?"
4. Exercise caution with test drives. Some buyers will want to test drive your classic car to see how it handles and listen to the engine. Be sure you verify the buyer’s insurance and driver’s license before even considering allowing a potential buyer to drive your classic. An accident while on a test drive could leave you with a bunch of scrap instead of a tidy sum gained from selling your classic car.
   • Under no circumstances should you allow a potential buyer to test drive your car alone. Even with collateral, like a credit card, it's unlikely that if the car is stolen the collateral will make up for the loss of your classic car.
   • You may want to consider choosing the test drive route for your car. Depending on the kind of classic car you have, you might want a good straightaway where the test driver can accelerate to evaluate the engine.
   • Scenic test drives, like those you might see on car advertisement commercials, can make your car more appealing to buyers. Winding roads, lakeside or seaside routes, and picturesque boulevards can help your buyer visualize himself driving (and owning) your classic car.
5. Negotiate with potential buyers. Once a buyer has checked out your car and decided he is interested, the negotiation process begins. There are many negotiation tactics you can use while deciding on the final price of your classic, you should have a firm idea of the upper and lower limits of the range you are willing to accept.
   • Think of a sales pitch for your vehicle before meeting with interested parties. You can tailor your pitch to those interested by asking, "What interests you most about this classic car?" Then you can highlight features related to this interest.
   • A personal endorsement from you will likely carry weight as well. Mentioning the car's history of reliability, its performance, or even its appeal to other collectors can garner even more interest among buyers.
   • You should expect to be bargained down at least somewhat from your asking price. This gives the buyer the illusion of a better deal. Begin with your asking price slightly above what your car is valued at.
   • Don't price your car too much more than the estimated value. This might scare off potential buyers, or it could lead buyers to thinking that you are over-inflating the price for a purpose - like for the purpose of being bargained down.
6. Make the sale. Now that everything agreed upon, you’ll have to transfer ownership of the vehicle to the new owner and fill out associated paperwork to make the sale official. Depending on your region or country, the requirements for transferring ownership may vary slightly, but generally you’ll need to:
   • Complete the bill of sale.
   • Sign over the title
   • Fill out the Release of Liability
   • Submit necessary forms to your state DMV
   • Provide copies of maintenance records.
   • You should black out any personal information that is included in the records/history of the car that you provide the new owner.

Fixing Up Your Car for the Sale

1. Identify and target the key features of your car. Some classic cars are valuable purely due to rarity, but more often than not, a defining characteristic in addition to rarity makes a classic desirable to collectors. You’ll have to do some research into your classic car to find out just why collectors might want to buy your car. Then you should restore these original features as best as you can. Some characteristics that might set your classic car apart include:
   • An elegant, unique body
   • A large, powerful engine
   • A plush, comfortable interior
   • Luxury features, like wooden paneling
2. Wash the car's exterior. Use a soft, non-abrasive cloth, like a microfiber cloth, and specially formulated car-washing soap to do this. Park out of the sun so that your car does not dry too quickly before you and wet, lather and rinse your car. Then:
   • Wet your car with water. If your home has issues with hard water, you may want to use distilled water to wet, wash, and rinse your car.
   • Add your soap to water in a bucket. Agitate the water to spread the soap throughout it.
   • Lather up your cloth and soap up the car thoroughly. Be sure to get the wheels, undercarriage, and all nooks and crannies as best you can.
   • Rinse the car and make sure to get all soap washed off. Then you should hand dry your car with a microfiber cloth or chamois.
3. Wax your car to make it look shiny and new. Appearances matter when you’re selling your classic car. Potential buyers are likely going to try to bargain you down in price using any reasoning they can, and in your case, this might be a poorly maintained exterior. A coat of wax can go a long way toward making your old classic look like it just came off the assembly line. Buy your wax from your local automotive store and then you should:
   • Wax your car on a cool day out of the sun. Hot days cause the wax to dry immediately, making buffing the wax and getting the best shine difficult. You should aim for days between 55° and 85° F (13°C and 30°C).
   • Follow the instructions that came with your wax. In most cases, this involves using a foam applicator to apply the wax in small amounts to the body of your car. Always use less wax; you can add more if you need to.
   • Apply the wax in circular motions evenly.
   • Buff the body of your car, if you desire.
   • Allow the wax to rest as directed by the wax directions.
   • Polish your car with a microfiber cloth.
4. Detail the interior of your classic car. You’ll want the interior of your car to be as clean as humanly possible to get the best price. Vacuum dust and crumbs, wipe down the dashboard, spray out your air vents with compressed air, and make the interior look as though it were new.
   • Many classic cars have leather upholstery. To make these look fresh and bright, you may want to look into how to clean leather car seats.
   • Many automotive stores sell specialty automotive wipes that work well at cutting grease and buildup that accumulates on the dashboard and console of cars. These might help your detailing work go faster.
   • For classic cars that need serious TLC, or if you feel unconfident in your ability to safely and correctly detail your classic car, you may want to pay a professional to detail your car for you.
5. Get a pre-sale inspection. If your car is in prime condition and full working order, this can significantly raise the value of your classic car. The best way to prove this to prospective buyers is by having your car inspected by a professional. A full, comprehensive inspection should take around an hour, and will generally cost somewhere between $75 and $100.
   • Though this might seem like an unnecessary expense, proof that your car is in near mint condition could add thousands of dollars’ worth of value to the vehicle.
6. Take detailed photos of the car in good light. Be all inclusive in your classic car’s photography. Leave nothing out. Even if you are hesitant to capture some of the rougher areas of your car on camera, many buyers expect some amount of wear and tear on classic cars. Honestly showing the true condition of your car will encourage honesty with potential buyers.
   • Include well-lit pictures under the hood, showing the condition of the engine.
   • If you have access to a car lift, put the car up in the air and take detailed undercarriage photos.
   • Although you should be comprehensive with your car photos, try not to be repetitive.

Tips

• Spray a car freshener to chase away any musty or stale odors.
• When an interested buyer calls, be polite and courteous.

Warnings

• Using a rough cloth or chemically harsh cleaners can scratch the paint and do damage to upholstery. Always check your cleaning agent on a small, out of sight patch before applying it to your vehicle.
• Make sure that the car is locked while on display.

Things You'll Need

• Automotive soap/detergent (or gentle dish detergent)
• Car air freshener (optional)
• Car wax (optional)
• Car wipes (optional)
• Compressed air (optional)
• Microfiber cloths (for washing and drying)
• Vacuum

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