Classic Car Selling & Buying
Everyone wants the best price to be the cheapest price. I only disclose the price that I feel is fair. Going into the deal everyone knows the sell price of the my car. If someone asks me, “What is the lowest price you will accept for the car? I counter with, “What price are you willing to pay”? Simple, right? Many people don’t respond immediately with a price and if they don’t give me a price to work with I don’t offer it for less.
Some classic car buyers understand what it takes to price a car. Again, as in my previous blog condition drives what the car is worth. They understand that having the car up to date on service, being clean, detailed, and running are the key ingredients for an elevated sale price. I have met a lot of different buyers through years and they have their own set system of buying. All of them have condition on the list.
I have different methods for barn finds and that is a whole different discipline in itself. Below is my list for auction and private party car sales.
Here is My Buying Check List:
Interior - If any of the these exist then it is a serious deduction. If the car isn’t clean then there is a good chance that the engine has never been serviced. The car is neglected in every way usually in this case. In many cases when I at the auction if I see this I just move to the next car.
Seats Ripped and not Clean
Carpet Dirty and Stained
Mileage - Mileage in late model cars is a factor and is key industrial standard for pricing cars. Though with a classic car that is 50 years old the mileage is less a factor and we’re back to condition for price. Don’t get me wrong if there is paperwork that supports the mileage then it is a great factor. Face it. A 50 year old car may not have had a working odometer for decades which goes back to what is in front of you. Condition, Condition, Condition.
Fluid Levels A big tattle-tail is the oil dipstick. Checking the motor oil and automatic transmission fluid is a must for me. If it’s low, burnt, and/or dirty this would be a great window into the cars past service. Many times I walk away when I see these conditions. At the very least the offer will be low and in the range of junk weight price.
Damage - Damage speaks volumes for the price of a car. Using my knowledge of contemporary repair costs is subtracted from the undamaged condition cost. Meaning what would be the price of the car if it were not damaged.