Pre-sale nerves and preparing to lose my auction virginity

8

Author: James ElliottPublished:

As you are reading this, I am hopefully parking up in Droitwich Spa for the Chateau Impney Speed Celebration on Wednesday, a new event backed by C&SC (see the links at the bottom for more info).

For once, however, I will not be sidling into the classic car parking with all the other enthusiasts, my Elan +2 should be shepherded straight into the auction hall where tomorrow it will go under the H&H gavel (4 December).

Now here’s a confession, despite attending hundreds, probably thousands of classic car auctions over the years, and despite handing over my credit card to finance at least onbe other person’s purchase, nervously holding a paddle or on extremely rare occasions even bidding, I have never bought or sold a classic car (for myself) at auction.

I’m not sure why really. 

I guess it is just the trepidation. While if you have a massively rare or valuable classic, selling at auction can hugely boost the price – as we witness over and again at the big annual events – if you are merely trying to move on a perfectly nice, but not exactly celebrity owned Lotus Elan +2, the assumption is, as it ever was, that it will accrue less at a public auction than it would via a private sale.

Yet, after months of going through the torture that is trying to sell a car privately, and still needing the cash to clear debts just as desperately as I did at the beginning of the summer, I have plumped for selling at auction.

A big part of this was because we were involved in the event, but also because a couple of dealers advised that I might do better at auction than I would gross if I a) sold to them, or b) did a commission sale via them, so, they said, give it a go and come back to them if it doesn’t work out.

In the run up to the sale, there were all sorts of weird new sensations like seeing your own car in a catalogue and strangers commenting on it, plus the panic of making sure I had all the relevant paperwork.

Overriding everything, naturally, was the fear that the ever-reliable Lotus would choose the journey to the sale to be the one it expired on. 

I could have trailered it, of course, and should have done so in order to maximise the visual appeal of the Lotus at the sale, but seeing as the single factor that has always most put me off buying at auction has been the unknown mechanical condition of a classic – and the assumption that people put classics into static auctions precisely because they have mechanical woes – I reckoned that driving 120 miles to the sale was the best possible reassurance for buyers… and potentially a pleasant farewell voyage for me.

So, in a matter of hours, I will either be driving the Elan back to London, or be in a position to buy my family Christmas presents. I always thought the exaggeratedly nervous camera-fodder on those daytime TV auction programmes were putting it on. Now I know better.

Click here to see the listing for James Elliott’s Elan +2. 

Click here for the full lot-list. 

Click here or here for more on tomorrow’s Chateau Impney Speed Celebration.

Click here for our sale preview. 

Comments

PaulJ

Good luck James. That could be a super Christmas present for someone.

flattop72

Well, I would take advantage of my position too for a bit of free advertising, if I had your job!

And once you have parked it, walk away. It is best not to witness the way most punters seem to treat auction lots.

simpatico

Top pre sale-bumping!

Why has the car been so hard to shift? Plus 2s seem to be hot-cakes and £7000-8000 seems quite reasonable for a good runner.

Or is the auctioneers pre-sale estimate deliberately low to attract attention? Maybe that's why you haven't engaged in these strange auction rituals James, too much smoke and mirrors for my liking

fergieswatchmaker

Best of luck, James.

You never know, you might just get a result. Auctions are funny places, as you well know, but take heart; many a dealer has offloaded a bottler at auction only for the thing to realize more than they were originally asking!

Jays

I was watching it being polished this morning. It certainly scrubs up well so good luck in the auction.  I'm pretty certain this was the car I looked at a couple of years ago at Paul Matty's.  As usual I went off to think about it and when I got back it had been sold!  I'll be interested tomorrow to see what it goes for....I'm keeping a tight hold on my wallet!

Jay

James Elliott

Jays, do introduce yourself if you spot me (I'll be wearing branded gear, though admittedly probably under several layers of warm stuff) and allow me to try and loosen your grip on that wallet.

James

Group Editor, C&SC

Richard Peasley

Congratulations on selling at the top end of the estimate on a day when many others did not shift. A decent Christmas will be enjoyed in your household after all!

James Elliott

  1. Thanks Richard. Funny thing with auctions is that I received bang on low estimate and the buyer paid £90 shy of top estimate once the premiums and VAT were added. That's pretty impressive estimating, I reckon!

Group Editor, C&SC

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