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Buying a classic car at an auction is not for the faint of heart, that’s certain. It requires a keen eye, a cool head, and an ability to make big financial decisions in a heartbeat. That much you probably know – but what you might not know is that you don’t always need deep pockets to come away from a classic vehicle auction as a proud new owner of your dream car.
With the rise of online auctions over the past ten years, a lot of observers expected that live, in-person, classic and collector car auctions would eventually lose steam – but the reality has been quite the reverse, with soaring car counts and sales totals for the traditional players in the auction game. Today, bidders are using online resources to become more informed, more involved, and more excited before their chosen prey crosses the block. But they still want to do the thing in person. When it comes to an experience as emotional as buying a lifelong dream, a lot of car enthusiasts aren’t content to do it in their pajamas in front of a screen. They want to be up close and personal.
While the eight-figure sums paid for blue-chip collector cars get the lion’s share of attention in the media, the fact is that many of the cars sold at classic auctions are downright affordable. A little patience and preparation can get you a great car at a price that is often below what you’d pay for a comparable car at a specialty dealer.
Why visit collector car auctions?
You might be surprised to learn that quite a few of the people who attend classic and collector car auctions never register as bidders. Instead, they enjoy seeing rare and unusual cars in person. Sometimes, an auction is the only place to see a particularly obscure or cherished vehicle before it disappears back into the climate-controlled garage of a major collector. Whether it’s a Ferrari 250GTO, the famous “Black Ghost” Challenger, or a mint-condition 1984 Ford LTD LX 5.0, the auctions can give you a chance to meet celebrity cars up close and in person.
This is doubly true for motorcycle aficionados, as the best classic bikes are simply less likely to see public time on roads or at collector events for reasons of safety and usability. Go to any classic car auction and you’ll see a lot of knowledgeable people clustered around the motorcycles.
Finally, there’s a little secret about classic car auctions known only to the people who frequent them: there’s often great food to be had, whether it’s the upscale fare at the high-end auctions or a better-than-stadium-quality hot dog served next to a line of 1980s Camaros waiting their turn on the block.
The Top 6 Classic Car Auctions
Mecum
Known as “the everyman’s auction”, “the spectator’s auction” and just “our favorite” to many, the auction house that bears founder Dana Mecum’s name has been around for thirty-five years. No stranger to million-dollar cars and one-of-a-kind collectibles, Mecum still focuses sharply on sourcing the best cars possible for the working collector. The atmosphere at Mecum auctions is electric, in no small part because they are often covered on MotorTrend TV.
With auctions everywhere from Wisconsin to Florida to California, Mecum is a traveling circus that is probably coming to a city near you at some point. You won’t regret your visit, and you might be surprised at how many great affordable cars are up for bid. Not ready to register as a bidder just yet? You’ll be in good company, as up to ninety percent of Mecum visitors are just there to have fun and see some neat stuff. A recent auction featured a complete collection of Schwinn Krate “muscle bikes” – so there truly is something for everyone.
Carlisle
Discerning buyers with a taste for mint-condition American cars flock to Carlisle, PA twice a year for the Carlisle Auctions. One of the newest auction houses in the game – it’s newer than eBay, in fact – Carlisle’s formula was immediately popular. So much so that the firm now runs two auctions a year in Lakeland, FL in addition to the twice-yearly Carlisle Events.
The “All Truck Hour” at Carlisle Auctions recognizes the increasing popularity of half-ton and similar trucks in the collector-car hobby, and spectator tickets are kept at an affordable $13. Recent auctions have been very strong on Fifties collectibles and remarkable pickups from the Eighties and Nineties.
Gooding & Company
Got a taste for the exotic, the one-of-a-kind, and the historically crucial? Then Gooding & Company is probably on your list of favorite destinations. It’s the official auction house of the prestigious Pebble Beach Concours outside Monterey, CA, and its other auctions are usually tied to upscale concours elsewhere. The best Ferraris, Porsches, and Mercedes-Benzes are often found at Gooding.
Known for detailed and beautiful presentation both in its catalogs and online presence, Gooding offers bidders and spectators a chance to see the world’s rarest cars up close. The focus here is very much on registered bidders, who have priority in everything from seating to access – but it’s also usually possible to get in as a paid spectator. Many of the cars sourced and sold by Gooding & Company are unique in the world and never seen in public – so if you absolutely want to see that rare “Doozie” or Ferrari, you’ll want to see about getting a Gooding wristband at the next event. Just want the car without the camaraderie? You can bid online as well.
RM Sotheby’s
Seven of the most expensive auction sales in history belong to RM Sotheby’s. (The other three, you ask? They are all from Gooding & Company.) Originally RM Auctions, the firm partnered with ne plus ultra auctioneers Sotheby’s fifteen years ago. The founder, Rob Myers, is still personally involved with the auctions at a hands-on level.
While RM Sotheby’s is best-known here for their American events at Monterey and Hershey, PA, they also operate auctions in Europe, including one in the spectacular setting of Monaco. From classic Bugattis to modern Formula One cars by Ferrari, McLaren, and others, RM Sotheby’s has undisputed primacy in the classic car auction world – and by all accounts the firm, and its management, is stronger than ever.
Bonhams
Cars are just a small part of the Bonhams story, which includes some of the most important art and antiques to ever cross an auction block and goes back hundreds of years. That doesn’t mean that Bonhams aren’t serious about classic car auctions. With auctions at Goodwood, The Quail (at Amelia Island), and a bicoastal presence from New York to Los Angeles, Bonhams sells a remarkable number of cars in a remarkable array of locations.
Competition cars from the historic period are especially sought after by Bonhams bidders, with major results for an ex-Fangio 1954 Mercedes-Benz and a record setting sale of a Ferrari 250GTO raising eyebrows in the past decade. If you want a look at the very best, consider attending Bonhams at your earlier opportunity.
Barrett-Jackson
When most people think “classic car auction”, they think Barrett-Jackson – and it’s obvious why. The firm was the first one to see the potential in televising auctions, and today their traveling circus is globally famous. While most B-J visitors are paying spectators, their bidder base is well-heeled and not averse to a little bit of playing to the cameras when the spotlight comes their way.
The signature event at Barrett-Jackson is, of course, the annual auction in Scottsdale, AZ, home of their first-ever 1971 sale. Event locations include Las Vegas, Palm Beach, and elsewhere. Muscle cars and motorcycles are the primary focus, with B-J auction results often cited as a major driver of appreciation in Sixties classic values. If you want a first-rate Hemi or LS6, and you also like the bit of fame that comes with placing the high bid in front of a global TV audience, Barrett-Jackson is the place for you!
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