With large collector car auctions raising their commission rates and hidden fees, selling your car at auction could net you less.
For the last couple of years, a perfect storm of rising values and reality-TV marketing has contributed to the idea that collector car auctions are the hot way to sell your car.
It’s true that the energy of the auction tent can sometimes produce emotion-laden bidding between two egos that result in exaggerated sales prices. Turn the television cameras on the bidder (or the seller), and he or she is probably pressured into compromising more than they would like. But as consumers become more conscious about price and quality, the bright lights of the auction block have begun to lose their luster.
As experienced professional car brokers, we rarely if ever buy inventory from collector car auctions. Call us old-fashioned, but we still want to drive and thoroughly inspect a car before we buy. That means everything from a cold-startup, to an underbody inspection on the lift. We want to see the paint under different lighting, and want to sit behind the wheel and smell the interior. We want to pore through all the service receipts and documents and study all the wonderful details of a well-kept car.
And we’d expect that our customers would want that, too.
That information is not available to the average auction buyer. But it’s available to anyone who comes into our modern, well-lit facility at the Throttlestop in Elkhart Lake, Wisconsin. This is why we can’t seem to keep inventory in the shop. Buyers have found out about us.
In the last few months, a number of auction houses have raised their buyer and seller commissions to unprecedented levels, with many as high as 12%. Also, rising are entry fees and “No Reserve” limits. Not to mention add-on fees for services like photography or detailing. All of which means more dollars paid out of the buyer’s pocket, and fewer dollars netted in the seller’s pocket.
At Throttlestop, we make it simple: Consigned cars or motorcycles pay as little as 5% seller commission which includes detailing, photography, and write-up, with access to our worldwide buyer networks. Showroom exposure is included, and inventory can be viewed by our 15,000 annual visitors.
In other words, our fees do not stand in the way of you getting top dollar for your cherished collector vehicle. And our broad-reach marketing makes sure your car or motorcycle is seen by qualified buyers who can trust in Throttlestop’s well-deserved reputation for offering the finest quality inventory.
Learn more about Throttlestop’s process in consigning your car and discuss a marketing plan for your collectible car.