This years auctions in Monterey will be as exciting as ever and offer an excellent opportunity to learn about and purchase a favorite make and model. These fast-paced events will be running Tuesday August 11th through Sunday August 16th and will require careful preparation for buyers. Premier can offer a few pointers for you to consider:
1. Get your personal finances in order to avoid buyer’s remorse, such as a signed bank letter and a predetermined budget. Don’t forget to include any taxes, buyer’s premium, and shipping in your overall costs. Remember that leasing is a viable option for most of the vehicles being sold, whether it’s a vintage Ferrari or Porsche or a pre-war Duesenberg. To pre-qualify for Premier’s Simple Lease and preserve your capital, click here.
2. Do your homework – study the auction’s catalogue and website for information about the car you wish to buy. Know the car’s value and what you can personally afford. Sign up for a service that can find and list a vehicle’s past history.
3. Ask questions at the event before the bidding starts or attend preview events like the Sports Car Market Insider’s Seminar at Gooding & Co to learn all you can about the car. Enlist the help of a licensed appraiser and a mechanic to judge the value and quality of the car. Check all paperwork carefully and make sure the title of ownership is on-site. Get to the auction early to beat the crowds and avoid distractions.
4. Remember not to get too caught up in the competition when bidding is underway. Keep a cool head, keep your paddle in check and your car will be within reach.