As you can imagine, here at Sell My Cars our team has handled a huge number of different cars and motorcycles over the years and a big part of our job is to advise clients on how best to sell their vehicle and the aspects that affect the chances of a successful sale being achieved.
We are offered cars on almost a daily basis, a large number of which, I am sad to say, we have to turn down. This isn’t because we are horrible car dealers who enjoy saying ‘No’ all the time but simply because the car or the owners expectations don’t meet our criteria. So what is our criteria? There isn’t an exact science to it as every single car is different in so many ways but we can boil it down to three categories that are important to get right: Price, Condition and Provenance.
Arriving at the right and, more importantly, fair price is the key to selling any car or motorcycle, be it a Austin Mini Cooper or Ferrari 348. As simple as this may seem, it can often be the biggest thing that private sellers and even some dealers get wrong when it comes to pricing classics. When we are offered cars and motorcycles we do an extensive amount of research looking at other cars on the market, recent and historical auction results and most importantly, using the extensive knowledge of our team and contacts to establish what the vehicle should really be selling for, be they on the market or a private sale. We boil each car down to its salient points, good and bad and then deduce where it fits in the price range of the market. It is very easy for any owner to believe that their car is the best example of its kind and therefore ask the top price but we have to take the emotion out of it and look at the facts.
What people are asking for and what these motor vehicles are really selling for can be two very different things and it takes a lot of time and research to deduce exactly where a specific car fits best.
Another thing often forgotten is that the profit we might make selling a part exchange probably represents a large proportion of the profit on the deal in which we originally took the part exchange. The same can be said of trade prices. If you ask a dealer to bid on your car, it may offer you an almost immediate sale of your car with zero hassle and no come back, as a result the price offered must reflect this. Whilst we always endeavour to be as fair as possible, just go on a certain website that offers to buy any car and you’ll see what I mean.
Having said all of the above, the old adage ‘A car is worth what someone is willing to pay for it’ does still ring true, therefore, we always encourage prospective buyers to make offers and we can present them to the seller. Here at Sell My Cars, vintage and high-performance cars and motorcycles are our passion and with many years of combined experience and specialists with industry-leading knowledge we are best-placed to value fairly for both buyers and sellers.