| Classic-Car Auctions |
|
|
|
Your personal guide to classic-car auctions
This year’s highest-selling car in the Scottsdale Valley was Gooding’s $3.3 million 1959 Ferrari 250 GT California Spider, but he says the desert sales are usually known more for “American and muscle cars.” On the other hand, he notes, if you are searching for “the finest cars in the world,” head to California’s Monterey Peninsula in August. If you can’t find one of the remaining 600 Duesenbergs at Gooding’s Pebble Beach Auction, you can try nearby sales presented by other auction houses, such as Blackhawk Collection, Bonhams & Butterfields, Christie’s, RM Auctions, and Russo & Steele. These West Coast auctions are the industry’s yearly pinnacle partly because California—birthplace of freeways and drive-throughs—embodies American car culture, but they also coincide with the Pebble Beach Concours d’Elegance. For car aficionados this event is the car version of combining the Super Bowl with a Victoria’s Secret fashion show. It draws beasts and beauties, and, though the cars aren’t for sale, it creates an excitement that carries over to the auctions. The East Coast’s auction hot spot is Florida, which hosts a trunkload of sales in late March and early April, including Barrett-Jackson’s Collector Car Event in Palm Beach. “It’s an emerging market with a lot people who like their toys and have the economic horsepower to buy them,” says Drew Alcazar of Russo & Steele. The Sunshine State’s auctions are especially appealing to buyers interested in cars for rallies. “Being close to Daytona means you see a significant number of race cars,” says Terry Lobzun of RM Auctions, which has two Florida sales: Fort Lauderdale in February and Amelia Island in March. If you can’t make it to these locales, there are also multiple auctions in Michigan in early August and central Pennsylvania in October. Along with these annual sales, auction companies also schedule one-off estate sales throughout the year. For instance, in April RM Auctions will help legendary Texas collector Wayne Davis empty his garage of 1930s-to-1960s-era American classics. To stay up-to-date on estate sales and get the exact date of yearly auctions, check out each auction house’s Web site or Hi-Bid.com (hi-bid.com/houses/default), which has a list of links to 36 companies that specialize in classic cars.  HOW TO BUYGooding admits, “Buying at an auction can be an intimidating process.” Still, by following a few simple tips you can certainly feel up to speed in about the time a 1971 Plymouth Hemi ’Cuda can go zero to 60. Ask as many questions as possible. The auction houses have a wealth of knowledge on each car they sell and will do everything they can to help you find a car that suits you. As you get more serious about purchasing a specific vehicle, they’ll run the engine for you and even let you take a test drive. Be sure to research the car’s vehicle identification number (VIN). You’ll want to know if the vehicle has a sordid past. Finally, if you aren’t in touch with your inner mechanic, have an expert kick the tires. “Before you buy a Jag E-Type, the Jaguar Clubs of North America will find someone to check it out,” says Gooding. “They want their membership to grow and are there to help owners.” 
WHAT TO BUYSimply put, get the best car your money will buy. “To resurrect a car you need a thick skin and thicker wallet,” says Alcazar. “It’s better to get a top-of-the-line Mustang than an antique Shelby that has been beat to hell.” Also, unless you want to spend more time in the garage than you do cruising, starting out with a vintage European sportscar or anything fuel-injected is not advised. Mustangs and fastbacks are great starter cars, agrees Lobzun, because “there are many clubs and it is easy to find support for them.” For newbies, Gooding likes powerful classics like Corvettes and Jaguars from the fifties and sixties, but he also recommends American coupes and even station wagons from that era. “The V-8’s in these cars are powerful and reliable,” he says. “Plus there are tons of people to work on them and parts are easy to find.” OTHER CONSIDERATIONS Whatever car you buy, make sure it blows your doors off. “If you bought a car for $1 million, but by the time you got it home it was only worth $5, be sure you would still love it,” advises Alcazar. Any car you purchase, so long as you take care of it, will appreciate in value, but buying a classic car purely as a financial investment misses the bigger picture. The point of having one of these cars, Gooding says, “is to drive it and enjoy it”—so that no matter how much you paid for your roadster, once you feel the power of the engine and the freedom of the open road, you will believe your new ride is nothing short of priceless. Comments (0)
 Write comment
|
WHERE TO BUY
Show/Hide comments
Show/Hide comment form
| < Prev | Next > |
|---|