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2022 06 07 Posting - CCC Blog Post, Why Buy or Sell a Collector Car with an Online Auction - Collector Car Canada

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2022 06 07 Posting – CCC Blog Post, Why Buy or Sell a Collector Car with an Online Auction
car lot

 

 

 

2022 06 07 Posting – CCC Blog Post, Why Buy or Sell a Collector Car with an Online Auction

 

 

 

What are car auctions?

Have you ever considered buying a car through an auction, rather than from a conventional retail channel?  In auctions, one participant starts by the bidding starting bid.   From there, a bidding process begins and continues through a certain prescribed time limit.

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Ford Mustang

Car auctions can be a great way to get a car at the best price. Yes, one can find collector and classic cars at these auctions. The auction houses provide information about the car such as make and model, mileage and condition.  A good first step when buying a car at auction is to make sure that you understand the terms and conditions, alongside special features linked to specific auctions. It is also important to do your own research on the car you are buying from a car auction website, we recommend contacting the car’s current owner to learn more about your next car.

Ferrari 250 GT California

Auction Buyers
Buyer Perspective Of Online Car Auctions
One of the most important benefits of buying your car from an online car auction is having access to private sellers, as opposed to employees at a dealership maybe trying for a quick sale. In an online car auction, you can contact the car owner to find out more information about the car from him/her. In addition, some of the cars that are posted on car auctions are collector cars that are typically difficult to find and purchase by other means. Moreover, buyers can tend to find great prices for cars in an online auction in comparison to dealerships; since in car auctions the market speaks:  the car is worth only what the bidders think it is worth (If no reserve price is in place). Although reserve prices can be relatively low in comparison to the full car price, making it a bargain for any interested buyers. Click here for more information about buyer benefits.

bidding on an auction

Auction Sellers
Seller Perspective of Online Car Auctions
Popular items can sell well above the reserve price, meaning that a seller can expect bidders to pay more for the car than a dealership or a private seller might offer, since bidders are competing against each other in order to have a chance of owning your collector Items. In addition, some sites like www.collectorcarcanada.ca allow you to keep the full selling price from selling your car, without onerous seller fees. Click Here For More Seller Benefits.

How CCC Auctions are different
By now you’ve probably noticed that we are advocates of the auction system. We thus created Canada’s most unique car auction system. Within our model, we focus on auctioning Canadian-resident cars that qualify to pass our review process, we embrace Canadian sellers because we want to ease the process and remove the hassle of having to pick up your car from the USA. As well, we have qualified bidders that are committed to following through the auction process; to bid, a buyer has already submitted credit card information to our third-party service provider, Stripe, because Buyer Premiums are collected this way.  Lastly, one of our coolest features is having proprietary bidding systems in the form of CCC Second chance and Last Chance Systems; preceding a new feature, the CCC Back Lot, to work toward items selling. To learn more about our systems click here.

Do you think the trend toward online is strong and growing?  Is online the convenient way over travel and more expensive fees at a bricks-and-mortar auction?

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