Important Things to Have in Mind When Selling Your Collectible Vehicle
If you’re a car enthusiast, you probably know all there is to know about cars. Even if you don’t own a car, you know exactly what you’ll be looking at when you get to a point of buying your car.
When you have a collectible vehicle, or rather if you’re an enthusiast, there’s a lot that you need to learn about them. When selling especially, as you can sell them for a loss if you have no idea what to look at. So, what exactly should you be mindful of when selling a collectible car?
1. What’s a Collectible Car?
There are a lot of categories that you can use to decide on a collectible car. It all depends on your taste. You may find the old-fashioned muscles a bit more collectible whereas another person finds the Great Oldies collectible.
Few categories of collectible cars:
- Antique – these are good oldies 1886-1915
- Classic – these cars are not older than 25 years old
- Muscle – from the 60s to the 70s. High performance and great horsepower
When you’re selling your collectible car, you first have to see if it’s easy to come across. For example, if you have a Bugatti Royale you have a rare collectible on your hands. With a rare car, you can get top dollar for it.
The car of course is more or less an Antique collectible that you probably won’t want to get rid of. Finding a great price for your classic car like this should be a task you approach diligently. There are of course sites that can help you find the right buyer.
Like anything today, certain brands demand more money than others. Selling collectible cars isn’t any different. For example, the likes of Porsche, Rolls Royce, Ferrari, and Jaguar tend to sell higher than others.
When it comes to American Muscles, the likes of Chevrolet Corvettes and Ford Mustangs are sure to sell better. If you have any of this, especially in the US market, you can fetch even more than you paid for it. You’d have to have maintained the car well.
There’s quite a struggle where age is concerned when it comes to these cars. First, like any other car, you want to see how old the car is before you can evaluate the price. For some buyers, age counts to how much they pay – a lot.
The older the car is, the higher it can fetch. For other buyers, the older the car the less they value the car. You need to have a way of balancing both ideas. One factor that should come to play then is mileage.
Like when you buy any used car, you need to check the mileage, you have to do the same when selling. But it shouldn’t account for much if you have maintained the car well enough. The car having original parts may also bring in more despite high mileage.
6. Original Parts
If you have original parts for the specific car the better you’re likely to sell it. For example, gearshifts, seats, and even pedals are the original from the manufacturer? Improvising isn’t that bad, but for the car to sell well, it has to be original all-through.
Also, the condition of the parts plays a part when it comes to selling.
Color is a huge factor when it comes to pricing especially when you’re dealing with muscle vehicles. For example, how much would you be willing to pay for a bright-colored muscle car? A red, yellow, or orange Ford Mustang.
Probably not as much as you would pay for a dark-colored muscle car. The muscle is self-explanatory, as people expect a powerful robust car. The car also needs an aggressive dark color like black or brown.
Flashy, bright colors make the car look “weak” and won’t fetch as much when selling.
The last thing you need to look at is the pricing. Are you quoting more than the expected range for the car you possess? If you have an American Muscle, you should look to sell at not more than $20,000.
In general, most collectible cars can sell for up to $30,000. Others can sell for more but they are quite the rare kind.
Collectible cars are a beauty to behold and can be a sense of pride for any owner. When it comes to selling, it isn’t the same as selling other used cars. Here are the important things to have in mind.
JR Dominguez is the technology, finance and music editor for MiLLENNiAL. When he's not writing, you can find him day-trading stocks, playing video games, or composing commercial scores.