How Can I Sell My Classic Car

It's time; you've finally decided to let go of that classic Acura NSX or Chevrolet Corvette, you want it to go to a good home. How can I sell my classic car? The first thought that comes to mind when selling a classic car is to tell a friend that you're selling a car, which might work. However, that won't get you as much of a deal as you'd like. Which is the best way to sell a classic car? There are various options to select from when selling a classic car, such as selling online or through your local dealership on consignment. This article explores the best ways to sell a classic car online to aid you in finding one that aligns with your needs. So, how can you sell your classic car?

Selling Online

Selling cars online is what everyone is doing these days, including high-end dealerships. However, selling online is slightly more demanding for classic cars as you can't just snap pictures and make a listing. First, you must ensure the car you're selling doesn't unknowingly transfer headaches to the new owner. Find all the minor and major faults and highlight them in the listing details. And if you can fix them before selling the car, why not do so? It's expected that classic cars aren't always in their best shape, so if yours is, then making a sale will be easier than you thought. Also, make the car look its best by thoroughly cleaning it before taking photos. Lastly, find any paperwork that might help the car sell and know its value before listing. What are the pros and cons of selling a classic car online?

Pros

• Selling a classic car online gives it better exposure than other listing methods, such as selling through a dealership on consignment. This ensures a quick sale, and you might actually get a decent offer, especially when selling on a website or platform that only allows classic car listings.
• When selling a classic car online, all there is to do is list it and go on with your daily duties and activities, making it more convenient than any other selling method. Buyers view the car online and can only view it in person when your schedule allows if they really want it.
• Depending on the website or platform you use, selling a classic car online costs less than listing it through other methods, such as newspaper classifieds. Selling through platforms such as Facebook Marketplace and Craigslist is basically free, even though Craigslist charges $5.

Cons

• Selling a classic car online means meeting up with ready and interested buyers who might have hidden intentions. You might get scammed or offered a fake payment, such as a false check, which happens quite often.
• Making a deal is one thing, but handling the after-sale documents can be stressful. This is unlike other methods, such as consignment selling or selling to a dealership. Some websites and platforms will handle all the paperwork on your behalf, but they'll also collect payment, among other things they can do if selling a classic car online becomes too troublesome.

Consignment Selling

If you have a highly sought-after classic car, the best way to sell it is through consignment selling if you don't want the hassle of selling it online or at an in-person auction. What does consignment selling entail? Selling a classic car on consignment means agreeing with a dealership or a consignment agency (consignee) that sells the car on your behalf and handles the sale process for you. The car's value is determined before signing an agreement, which contains a percentage cut that goes to the consignee if the sale is successful. Here are the advantages and disadvantages of selling a classic car on consignment.

Pros

• Selling a classic car on consignment might get you a buyer quicker than most methods due to the network of buyers consignment agencies and dealerships have. You increase the probability of getting a good offer if you seek consignment services from a dealership or agency specializing in classic cars.
• Like selling online, selling a classic car is more convenient since the consignee handles the sale for you and everything involved, including paperwork to finalize the sale after you transfer the title. 
• When you sell a classic car on consignment, it's valued at its market value, so you are assured that you'll get what the car is really worth. This is unlike when selling to a dealership, which will most likely value the car below market or at a wholesale price.

Cons

• Selling a classic car through consignment means you lose control of the whole process, and the consignee might keep you out of everything until it's time to transfer ownership.
• A certain percentage is cut from the accepted price and is owed to the consignee as a sale success or consignment service charge. Depending on how much the percentage cut is, it might reduce the amount you get by a lot.

Networking At Car Meets, Rallies And Shows

Driving a classic car to classic car meets, rallies, and shows is the best way to reach a genuinely interested audience. You could have a "For Sale" and contact placard sitting on the front and rear windshield with the car's information similar to what you'd have in the listing description when selling it online. If you frequent classic car shows, meets, and rallies, or you've had an interest in doing so, this is the best way to sell a classic car. However, don't see other classic car owners enjoying their cars and develop second thoughts about selling.

Pros

• Classic car shows and other sorts of meetings offer a costless method of advertising and selling a classic car. Even though you'll have to fill up gas and pay other expenses, the experience you get is more than enough to cover the costs involved.
• No third parties are involved in advertising your car at car shows, and no one will ask for a commission ot a cut of any sort if you get a buyer. You manage the entire sale process, giving you control over pricing and negotiations.

Cons

• It's too much work driving your classic car to car meets and related events to sell it, and engaging interested passers-by is even more tiring. Also, it's inconvenient since you'll have to adopt a schedule that allows you to attend such events.

Selling At An In-person Auction

Another way you could sell your classic car is by selling it at an in-person classic car auction. Auctions are held almost daily, and finding one that suits your classic car's needs is easy. Start by asking around and watching classifieds in the local newspaper and TV ads as you prepare the car to its best. Once you find one, contact the auctioneers with the car's information, including photos, make and model, year of manufacture and history, and most importantly, the reserve price. The reserve price is the minimum price you'd be willing to accept for the car, and it will not be disclosed to bidders unless extremely necessary. Also, include the car's current general condition and use factory-specific terms. For example, when referring to the transmission engine and paint.

Pros

• Selling a classic car at an in-person auction has the best potential for getting high prices, especially if it is highly sought-after or in its absolute best condition. You'll be in a corner, fingers crossed, hoping bidders meet the reserve price only to get more than you estimated.
• At most auctions, especially classic car auctions, most bidders are enthusiastic buyers and collectors who want nothing but the best. If your car catches their eye or meets their expectation, selling it will be a piece of cake.
• Auctions are a quick sale option when selling a classic car, and in most cases, you'll get payment the same day the car is sold.

Cons

• Auctioneers scrutinize classic cars to ensure they are in their best condition and won't auction a car they believe isn't fit for auction unless it's worth a lot, even with some issues. So, if you plan only to clean your classic car and drive it to the auction, don't do it without an inspection.
• Auctions will require auction fees and a certain percentage success fee if you agree to the winning bid. You'll have to deduct this amount from the funds you get from the buyer.

Selling To A Dealership

This is the best way to sell a classic car if you're on a deadline or need quick cash. However, you can't just walk into any car dealership with a classic car. It would be best to sell through a classic car dealership for the best offer, and a better experience than dealerships that sell new and fairly used newer cars. If the car has some issues, which are unavoidable in classic cars, a classic car dealership will understand and will not devalue the car by much. But this does not mean that you shouldn't try to fix these issues, for example, surface rust, before taking the car to a dealership.

Pros 

• Selling a classic car to a dealership is the quickest way to make a sale if you're desperate. However, ensure the car is in its best condition, as that will determine if the dealership buys it.
• By selling a classic car to a dealership, you avoid the hurdles of private selling through other methods, such as getting the car appraised, arranging viewing dates, and trying to judge which payment method is the best to avoid fraud and getting scammed.

Cons

• Dealerships typically offer lower prices since they value the car at below market prices or wholesale prices as they need to profit when selling the car. If you had done some market research before visiting the dealership, try to gauge the difference between what they offer and what the car is worth before accepting an offer.

Classified Ads

Despite being an old-fashioned method, listing a classic car on classifieds can potentially get you a buyer. It could be in the local newspaper or a magazine, preferably one that focuses on classic cars or cars. Some classic car websites and platforms, such as Autotrader Classic and Hemmings, offer an option to list your classic car in their publications to know where to start.

Pros

• Newspapers and Magazines are read mostly by locals, enhancing the chance of a buyer coming from within your state and region. Thus eliminating traveling or transport costs that a buyer might use to negotiate a lower price.

Cons

• Newspapers and magazines are not as popular as they used to be, so it's a gamble using classifieds to sell a classic car.

Sell Your Classic Car Through Exotic Car Trader

With Exotic Car Trader, selling a classic car has never been easier. We provide listing solutions for all types, makes, and models of classic cars, ensuring maximum reach to potential buyers. Your classic car will be listed on Exotic Car Trader's website, which has verified buyers ensuring a fraud-free selling experience. What other services do we offer? Besides listing your car on Exotic Car Trader, we'll also list the vehicle on partner sites such as eBay Motors, CarGurus, Autotrader, Cars.com, CarsforSale.com, and even Facebook and Instagram for the most exposure. If you can't do a vehicle photoshoot, we'll do that for you and much more, including transacting the sale on your behalf and handling shipping, trade-in, and financing needs just in case the buyer requires any of those services. So, why not sell your classic car with Exotic Car Trader? List your classic through Exotic Car Trader car here

Final Thoughts

When trying to sell a classic car, it's important to explore all possible routes and understand each route's benefits and limitations. The chance of success varies depending on your method and how you'll showcase the car to potential buyers. But remember patience and knowing the car's value are paramount as it might take a long time to make a sale, so don't get tempted by lowball offers despite your urgency for cars. Are you having trouble selling a classic car? Let Exotic Car Trader handle the sale for you.