Gems glitter at auto auctions
TORONTO STAR FILE PHOTO
Nika Rolczewski's 1963 Oldsmobile Starfire.
It's funny that a few words could elicit such a look of terror on my husband's face. I had simply mentioned that I planned to attend the RM Classic Car Auction this weekend.
It seems my guy can forgive but not forget my escapades at a previous sale, when I came home with a bright pink 1963 Oldsmobile Starfire. I had imbibed enough courage, and wine, to purchase "Rosie" after falling in love with her as she drove up on the block. Under the lights, she was perfect.
It turned out, though, Rosie was in need of tender, loving care. I had neither the time nor the funds to bring her back to her glory, and she was quickly resold.
This experience didn't deter me from wanting to step back into auto-auction mania. But this time, armed with new knowledge and no chequebook, I'll have to settle for sharing some advice.
The first thing you have to do at a classic car sale is simply check out the polished metal. Auctions are amazing car shows.
If a vehicle catches your eye, be sure to give it a good twice-over. Skipping this step can lead to agony when you realize the car is not perfect.
One thing you don't have to worry about is checking references. "The cars we accept have to have proper documentation and known provenance," says Terry Lobzun, manager of public relations for Chatham-based RM Auctions. The company's specialists, he says, have the experience to "sort the wheat from the chaff."
RM caters to all kinds of buyers, offering both perfect-looking rides and some in need of restoration. Rosie, like her erstwhile owner, was in the "has character but needs work" category.
If you're interested in a car, you must register – free with admission. With a bidder's card in hand, you're ready to make a play for any of the 400 vehicles that will cross the block.
Yes, you'll need some cash, but not stratospheric sums. At a mainstream auction like this, cars normally range from under $10,000 to a few over $100,000.
This weekend's Toronto show will have some gems: a 1956 Mercury Montclair convertible, an attractive pink 1956 Cadillac Coupe de Ville, a handsome 1976 Lamborghini Urraco P-250 Coupe and three stunning 1974 Jaguar E-Type V12 Roadsters, to name a few.
Timing is crucial: If you can't be there when the vehicle you want is on the block, make sure you arrange to be a telephone bidder or submit an absentee bid. But there's nothing like being there in person.
An auction can be a very fast-paced, heady environment for first-time bidders and sellers. Lobzun advises would-be buyers to attend an auction first to learn how it all works. "It's not as intimidating as it seems," he adds.
Worried that by waving to a pal you may inadvertently buy a Chevy? Rest assured: bid spotters can tell when someone is just scratching their head or waving.
If you're a successful bidder, be prepared to pay a buyer's premium of 10 per cent on top of the final gavel price.
Cars are investments and emotions should be kept in check during an auction. Cherish the car for its appearance, nostalgic value, engineering, performance and fun factor. But don't fall in love at first sight. Some cars have great sex appeal but that doesn't always translate into value or reliability.
On the other hand, if you find the car of your dreams, make up your mind quickly because it takes just a few minutes for an auctioneer to sell a car. One perfect Chevy Impala specimen that my husband missed out on haunted him for months.
Looking for a specific marque? Do your homework. A price guide such as Kelley Blue Book or N.A.D.A. will give you an idea of the market value of the vehicle. Reputable auction houses also list final sale prices of vehicles from past auctions.
I'll spend my time this weekend checking out the memorabilia vendors and touring the automotive swap meet at Canada's largest classic car event. There will be no wine in me. I'll just be a car-crazy girl with her hands in her pockets and her credit card at home.
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