Classic Car Auctions

Frequently Asked Questions About Classic Car Auctions

Bidder FAQs

• What are the buyer fees?

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  • The winning bidder pays Classics on Autotrader a 5% buyer's fee on top of the winning bid (minimum $200, maximum $5,000) as payment for their use of the auction services.
  • We will place a hold on your credit card for the buyer's fee. If you win, your card will be charged the buyer fee soon after the end of the auction, and you will pay the seller directly for the vehicle. If you don't win, your hold will be released at the end of the auction.

• How do I register to bid?

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  • To register, you need to create a Username, become ID Verified, and provide credit card info.
  • Once you receive your Auction Membership, you can bid on classic vehicles listed for auction.

• Why do I have to verify my ID?

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  • Classics on Autotrader is a secure Online Auction community.
  • In order to maintain that security, and help ensure buyers and sellers that their transactions will be honored, we require users to verify their ID through Stripe ID Verification.

• How do I place a bid?

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  • Once registered for auctions, you can place a bid on the Vehicle's Auction Page.
  • At the conclusion of the auction, the highest bidder will win unless the seller has set a reserve price on the vehicle that isn't met by the bidders.
  • A reserve price is a set price that a seller is unwilling to go below in order to sell.
  • If the highest bid for a vehicle falls below that reserve price, the vehicle is not sold.
  • The Winning Bidder is connected with the seller to complete the transaction.
  • Bids are binding and cannot be retracted. You are responsible for completing all due diligence before bidding. You agree to the Classics on Autotrader Terms of Use by placing this bid.

• How are bid increments calculated?

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  The bid increments are as follows:

  • Starting bid: $100
  • $100 increments up to $14,999
  • $250 increments from $15,000 to $49,999
  • $500 increments at or above $50,000

• Can I bid if I live outside of the United States?

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  • Yes, certainly. International bidders are eligible to participate. If your bid wins, kindly pay promptly after the auction's close, like other buyers.
  • Additionally, please note that the buyer is responsible for all logistics, import fees, transportation, legal obligations, and related matters for exporting/importing the vehicle.
  • Be well-informed about these regulations and have everything in order before bidding.

  All bids on Classics on Autotrader are in United States Dollars (USD).

• Is proxy bidding available?

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  • No, there is no proxy bidding. If you get outbid, you must manually enter your next bid. The vehicle price will instantly update to your bid amount.
  • For instance, if the current high bid is $30,000 and you bid $35,000, the current high bid becomes $35,000.

• Why do we place a hold on your credit card when you bid?

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  • We place a hold on your credit card to cover the potential buyer's fee in case your bid wins the auction.
  • The hold is 5% of your initial bid amount, with a minimum of $200 and a maximum of $5,000. If your bid doesn't win the auction, the hold is released.

• Why is there a hold from Classics on Autotrader despite not having the winning bid?

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  • Holds for non-winning bids are canceled right after the auction ends.
  • Depending on your bank, it may up to 7 business days for the hold to be officially removed. For more details, contact your card issuer.

• Can I inquire about the reserve price?

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  • Reserve prices are undisclosed.
  • Please avoid asking sellers about reserves during the auction. The Vehicle Auction Page will indicate when the reserve is met.

• What if the reserve isn't met?

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  The seller can set a reserve price in order to prevent a sale going below a number they are uncomfortable with for the vehicle. The seller isn't obligated to sell if the reserve is not met. The Auction will close without a sale if the reserve is not met.

• Once the auction is over, how do I continue?

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  • After the auction ends, the buyer and seller receive each other's contact details to complete the transaction.
  • Learn more about the process in our Finalizing the Transaction section.

• How do I arrange financing?

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  • It is on the buyer to arrange for financing on their own. Classics on Autotrader cannot provide that for them, however, we do note that it's best to get pre-approved before bidding.
  • The listing information is often sufficient for pre-approval, but if your lender requires additional details, use the "Contact" button to reach the seller.

• How do I pick up the vehicle?

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  • Transportation costs are the buyer's responsibility, so gathering travel or shipping cost estimates is essential before bidding. You have various options, like flying and driving home or using a trailer. However, we recommend shipping as an easy and often more affordable choice.
  • Before bidding, verify that the seller's timeline aligns with your plans. Some sellers may store the car briefly or help with nearby shipping. Keep in mind that title transfers and loan payoffs may take time. Always communicate with the seller to ensure everything works smoothly.

• How do I pay the seller safely?

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  • Transaction specifics, such as payment options, are between the seller and buyer. We suggest wire transfers or cashier's checks, but various payment options exist. Discuss the timeline with the seller early on to ensure mutual comfort with the process.
  • Be aware that it may take several weeks to reissue a title after the loan is satisfied in some states. Additionally, some states require titles to be notarized by the seller before transferring them to the buyer. Following these rules and referencing state DMV websites is crucial when handling important documents.

  For more information, read about Finalizing the Transaction.

• Are there rules to follow in the comments?

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  • Absolutely! To maintain a positive environment for all users, we have some guidelines.
  • Keep the conversation focused on selling the vehicle, avoiding foul language, personal attacks, and sharing personal contact information.
  • Spamming, discussing the reserve price, or promoting external businesses are prohibited. Let's respect each other's interests and stay on-topic.

  Here are some actions that will be moderated accordingly:

  • any copyrighted material unless you own or control the copyright in and to such material;
  • material that is: knowingly false and/or defamatory, inaccurate, libelous, abusive, vulgar, hateful, racist, bigoted, sexist, harassing, threatening, inflammatory, obscene, profane, sexually oriented, invasive of a person's privacy, or is otherwise objectionable or in violation of any applicable law, rule, or regulation;
  • any material containing viruses, Trojan horses, worms, or any other disruptive or harmful component;
  • material that breaches another's privacy, i.e., containing phone numbers, addresses, or other personal information;
  • spam, including, but not limited to, junk mail, chain letters, unsolicited bulk email or duplicative messages, excessive cross-postings, and material that is unrelated to the forum in which it is posted;
  • material that contains advertisements or commercial solicitations; or
  • material discussing illegal activities or linking to websites that deal with such activities.

• What is a No Reserve Auction?

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  No Reserve Auction does not have a reserve price. Once the time runs out, the highest bidder will win.

• What is a Reserve Auction?

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  Reserve Auction has a reserve price. Once the time runs out, the highest bidder will win only if the bid is equal to or higher than the set reserve price.

Seller FAQs

• What are the steps to Auction my Classic Vehicle?

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  • To register, you must create a public-facing Username and become ID Verified.
  • Once you receive your Auction Membership, you can create and submit your classic vehicle for auction.
  • Your vehicle can go live as soon as two business days of submission, although the release date may be delayed due to auction volume. Once your vehicle is live, you may only edit your auction listing via the comments section, and you must not have your vehicle listed elsewhere for sale--failure to abide by this rule could result in a ban from the auction.

• How do Live Online Auctions work at Classics on Autotrader?

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  • Auctions start and end each weekday between 11:00 a.m. to 4:00 p.m. (Eastern Time). Auctions run for seven weekdays, meaning that if your auction is released on a Wednesday, for example, it will run until the following Thursday at 4:00 pm.
  • The highest bidder wins unless a reserve price isn't met. The Winning Bidder is connected with the seller to complete the transaction.

• Can I edit my live auction?

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  • While you can't directly edit your auction once it goes live, you can note changes in the comments section of the Vehicle Auction Page for bidders to see.
  • Additionally, you can leave comments, add more photos, and answer questions to enhance your listing's clarity.

• How should I engage during the auction?

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  • Being an active participant in the comments section is crucial. Respond to any questions submitted there. Active sellers tend to have more success.
  • Stay positive and constructive in your answers to boost potential bidders' confidence. Remember, the buyer is a fellow classic car enthusiast genuinely interested in your car. Avoid posting any comments that would violate Autotrader's Visitor Agreement (add link).

• How much does it cost to auction a car on Classics on Autotrader?

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  • Sellers can purchase a 7-day Auction for $29.95.
  • If the seller wants to set a reserve price, a reserve auction is FREE!

• Can I sell a vehicle if I live outside of the United States?

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  Currently, Classics on Autotrader only offers classic vehicles for sale located in the US.

• How do I take the best pictures and videos of my car?

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  Get the most out of your auction. We recommend having at least 30+ photos and a video-recorded test drive.

  Consider this checklist when taking pictures and capturing video:

  
  Exterior Photos

  • Front
  • Driver's side
  • Tires
  • Back
  • Passenger's side
  • Exterior flaws

  
  Interior Photos

  • Front seats
  • Dashboard & odometer
  • Trunk
  • Rear seats
  • Center Console
  • Interior flaws

  
  Other Photos

  • Engine
  • Vehicle inspection
  • Service records
  • Underside
  • VIN, data plates, labels
  • Accessories

• Is getting my car inspected recommended?

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  • Absolutely! Having your car inspected and including the inspection report in the uploaded photos usually gets you more money for your vehicle.
  • Bidders appreciate knowing the car's current condition, which boosts their confidence and bidding potential. Remember, one extra bid often covers the entire inspection cost.

• How do I contact customer service about my auction?

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  • If you have any questions or need assistance, please contact customer support at 1-(888) 415-5011.

• Can I schedule when my car's auction starts?

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  • Although we don't offer the ability to schedule your auction precisely, we allow our sellers to save their auctions as a draft to be submitted at a later date.
  • Submit the auction at least two business days ahead of the time when you are ready to go live. We may not be able to publish your auction within two days depending on auction volume.

• Can I set a reserve price for my auction?

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  • Yes, sellers can add a "reserve" for an additional fee. A "reserve" is the minimum price you will accept for your car, undisclosed to buyers during the auction.
  • Alternatively, you can choose a "no reserve" auction, where the vehicle will sell to the highest bidder.
  • If you wish to adjust your reserve later, you can lower it at any point during the auction. Just edit your auction listing page and enter the new reserve. Please note that the new reserve must be lower than your current reserve price.

• Should I reveal my reserve price?

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  • Classics on Autotrader will not disclose your reserve price on the Vehicle Auction Page and we strongly advise against disclosing your reserve, especially in the public comments section.
  • Based on experience, revealing the reserve price often hinders bidding, especially as the auction approaches or reaches that value. It's best to keep the reserve price private to encourage active bidding.

• Who is eligible to bid on my car?

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  • Anyone who has registered to bid on Classics on Autotrader. They must have a verified email address, photo ID, and a valid credit card. All bidders are expected to pay in full within one week of the auction close date.
  • Your buyer may be from outside of the United States. International buyers are expected to pay in full for the vehicle promptly following the auction, just like all other bidders. Additionally, any logistics, import fees, transportation, legal dues, and/or other items needed to export/import the vehicle are entirely the buyer's responsibility.

• Can I negotiate outside of the auction?

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  • No–vehicles listed on Classics on Autotrader are for sale exclusively through the auction.
  • Attempting to make a deal outside the auction may result in a permanent ban from the site.

• How does the buyer contact me and make payment?

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  • Once the auction is over, that stage of the transaction is completed between the buyer and the seller.
  • Classics on Autotrader will then provide the buyer and seller with each other's contact information, and the two parties can finalize the transaction via email or telephone.

• How can I ensure safe payment?

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  • Payment details must be worked out between you and the buyer. Wire transfers are often seen as one of the safest payment methods. Other strategies may also work, depending on the unique transaction.
  • For local buyers, meeting at their bank branch for a cashier's check, electronic transfer, or direct withdrawal is common practice.
  • Always perform due diligence, verify checks with your bank, and wait for funds to be received before finalizing the title transfer.

• How should I prepare to sell my car?

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  • Research the title transfer process in advance to know the appropriate selling steps. Engage with potential buyers to discuss post-sale arrangements and set clear expectations.
  • If there's a loan on the vehicle, plan to pay it off and transfer the title promptly after the auction ends.
  • Some states may take weeks to reissue a title after loan satisfaction. Check state DMV websites for notarization requirements before sending essential documents.

• Do I need a Bill of Sale?

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  • It's advisable to have a Bill of Sale that includes vehicle details, purchase price, and transaction terms. Both buyer and seller should sign and keep copies for their records.
  • Your state's DMV website may offer Bill of Sale templates or there are free services online that can provide templates.

• What if the winning bidder doesn't follow through with the purchase?

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  • Instances of winning bidders not following through are rare.
  • If it happens, the winning bidder loses their 5% buyer's fee and is subject to a permanent ban from Classics on Autotrader.

• Finalizing the Transaction

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  Follow our handy checklist below to ensure a successful post-sale process. We're here to support you every step of the way!

  1. Get in Touch
     1. Reach out to the buyer after the auction ends to introduce yourself and maintain a positive and courteous tone throughout the process. You should provide the buyer with proof of ownership, typically a photocopy or picture of the title and registration.
  2. Payment and Paperwork
     1. Buyers are expected to make full payment within one week of the auction's closure. If there's an outstanding loan on the vehicle, discuss with the buyer how it will be paid off and determine the necessary steps to complete the transaction safely. If you have the funds to pay off the loan, do so promptly and provide proof from the lender that it has been settled.
     2. If you don't have the funds, the buyer can pay the outstanding amount directly to the lender and then pay you the remaining purchase price. Create a precise Bill of Sale that outlines the transaction terms and ensure both parties sign it. Check your state's DMV for available templates and requirements.
     3. Wire transfers or cashier's checks are recommended for payment, although various options are available. Consider meeting at the buyer's or your bank to draft a cashier's check, withdraw funds directly, or complete an electronic money transfer.
  3. Vehicle Pickup and Shipping
     1. The buyer is responsible for any logistics, import fees, transportation, legal dues, and/or other items needed to export/import the vehicle.
     2. Remember, release the vehicle and title only after receiving full payment. If the transaction is conducted remotely, securely mail the signed-over title to the buyer using a courier service with a tracking number once payment is received.

Frequently Asked Questions About Classic Car Auctions

• How can I buy cars at auction?

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  There are two types of auctions—public car auctions and dealer car auctions. Public car auctions are open to anyone. Dealer car auctions, like those held by Manheim, are private and require you to have an auto dealer license as well as the necessary credentials, insurance and business license requirements as outlined by your state and/or county. You can also hire an auto broker to find and bid on a car for you. The car auctions listed on Classics on Autotrader are open to the public.

• How can I get a dealer license for car auctions?

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  Your state’s Department of Motor Vehicles (DMV) should list the rules required to become a licensed automotive dealer. You’ll need to apply for a business license, a dealer registration number and a tax or employer identification number to adhere to any sales tax and income rules. Most states require applicants to also create a DBA, submit a detailed business plan and undergo a background check. Lastly, you will also need a surety bond for insurance purposes to protect your customers and yourself.

• How do car auctions work?

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  Most car auctions, either public or private dealer car auctions, are in person or online. A car auction can be overwhelming since there are many rules to follow during the bidding and sales process. There's a starting price listed for each car. If you find a car you like set your maximum bid. If your bid wins, the car is yours. All auctions have fees which are in addition to the vehicle’s final bid price. Be sure to understand these fees and account for them in your budget. All online auctions also have a shipping partner to fulfill delivery of the vehicle to you.

• How much does a car auction license cost?

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  The cost of a car auction dealer license is $600 to $800 to get a business license and to set up your corporation. Then there is $15,000 in annual building and insurance costs.

• How can I buy a car from an auction without a dealer license?

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  You either must know a licensed car dealer or someone you trust in the automotive industry. But most people wouldn’t want to go through this much trouble to buy a single vehicle. All the auctions listed on Classics on Autotrader are open to the public and do not require buyers to have a dealer license. If you still insist on buying a car from a private dealer auction, your best bet is to find a car broker who focuses on representing clients, like you, to buy a vehicle at a dealer car auction.

• How do I find car auctions near me?

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  Car auctions found on Classics on Autotrader occur weekly and monthly depending on the location and include a wide variety of vehicles—classics, RVs, motorhomes, trailers, ATVs, motorcycles as well as present-day vehicles and heavy-duty equipment. Most auctions listed on our site are open to the public although some may charge a bidder registration fee. We update our auctions page often so you can find a car auction near you.