How to Sell a Prestige Car

So far on our automotive journey, we’ve found out about all sorts of prestige cars, including antique, classic and high-performance. Now we have a much better idea of the value we can expect a vehicle to achieve, we’ll use this blog to talk you through how to sell your car.

Whether selling through classified ads or on eBay, sticking to this guide should help you achieve the full value potential of your luxury car.

Where Should I Sell?

There are 4 main options when selling your prestige car:

  • Specialist classic car dealerships

Advantages:
-knowledge of current market
-will do all the work for you (preparation/paperwork/sell)

Disadvantages:
-this is a business – salespeople will look to sell your vehicle on for a profit
-not appropriate if you are not prepared to haggle

  • Auctions

Advantages:
-least labour intensive way of selling
-quick payment following sale

Disadvantages:
-submission fees can be costly
-risk of vehicle not selling (costs time and a re-submission fee)

Car magazines (classifieds)

Advantages:
-you are selling privately, so cutting out the middle man
-choose who you sell to – every part of the sale is in your hands

Disadvantages:
-can be a waiting game, potentially slowest way to sell
-time and effort in submitting advert information

Online (e.g. eBay)

Advantages:
-you are selling privately, so cutting out the middle man
-potential to exceed market value if you get into a bidding war

Disadvantages:
-takes time to set up advert (pictures, blurb etc.)
-danger of selling for less than market value

Our view

Over recent weeks, we’ve discussed auction results and used them to indicate potential for a vehicle’s value. With an everyday car, auctions are hit and miss. You might get what you want, but there’s a big chance you won’t. However, with desirable prestige cars that you are confident people will want to fight over, an auction could get you the best result.

Put it this way: if you had a car that there is a vehicle appreciation society dedicated to, perhaps a rare Ferrari, or mint condition vintage car, would you rather buyers got into a frenzied bidding war, or go with a one-off offer from a classified ad.? This is why sought after cars are better off sold at auction.

Alternatively, if you don’t think your vehicle quite has the kudos for a real-life auction, dealerbid.co.uk offers an enticing Plan B. They let you pitch your car to dealers, who then come back with offers. Instead of going to individual dealerships, you can effectively visit hundreds within a single click.

Next Time

So you now have a better idea of options for selling. Tomorrow, we’ll be letting you into our top tips for prepping vehicles for sale, helping you to get the very most out of your prestige car.

Until then, Ed Hallinan and the borro team.

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