The Smart Enthusiast’s Guide to Selling Your Classic Car

For many classic car owners, parting ways with a beloved motor is not just a transaction, it’s a moment. Whether you’re making space for a new project, shifting priorities, or simply feel it’s time for a change, knowing the best way to sell your classic car can make a big difference emotionally and financially.

At Abbeyfields Insurance, we have worked with classic car owners for decades and a few of us have been classic car owners ourselves too, so we have picked up a few things about the market and how to navigate it smartly. So, if you’re looking to sell your classic car, here is our expert take on how to do it right.

Private Sale: The DIY Route

The most traditional method of selling a classic is through private sales either by advertising it yourself through car selling websites like Auto Trader Classics and ClassicCarsForSale.co.uk, or even general platforms like Auto Trader, Facebook Marketplace or eBay. Many enthusiasts also use listings in magazines such as Classic Car Weekly, or Practical Classics, or post on club forums like the MG Owners’ Club or Porche Club GB.

The advantage here is that you are in complete control. You set the price, speak directly to potential buyers and negotiate the terms of sale. If done right, this can also give you a better return by cutting out third-party fees.

Expect the inevitable tyre kickers, time wasters, and dreamers with empty pockets. If your car is listed online, it’s not uncommon to field a string of enquiries from people who just want to have a look or make cheeky offers far below market value. There is also the added hassle of arranging viewings, vetting buyers, and handling all the paperwork yourself.

If you enjoy the art of negotiation and have the patience to filter through casual browsers, this could work for you, but for many, it becomes a frustrating distraction from what should be a straightforward sale.

Selling to a Dealer: Ease Over Emotion

If convenience is key, selling directly to a dealer or via a sale and return agreement might be a better route. With sale or return, a dealer markets the car as if it were part of their stock and handle the presentation, storage and customer interactions. You remain the legal owner until it sells and the dealer takes a pre-agreed amount of commission from the sale price. Just ensure you are working with a reputable dealer who understands the market and your car’s value.

Going Once, Going Twice…Sold

Over the past decade, classic car auctions have shifted from niche events to headline grabbing spectacles. Take for example, the legendary Ferrari 250 GT that went under the hammer at Duxford auction in 2015. The hammer fell at £6.6 million, part of a charity sale that raised over £10 million for the RNLI. More recently, Silverstone Auctions stunned the industry by selling a Ford Sierra Cosworth RS500 for £596,250, smashing previous sale records for the model.

Auction houses like Silverstone, Bonhams and Historics Auctioneers cater to knowledgeable buyers. If your car is rare, desirable or has an interesting history, an auction might just find it a new home and quickly.

Most auction houses charge a cataloguing fee and take a commission from the final sale price. You will also have the option to set a reserve, protecting you from underselling, but the real thrill is watching your car spark a bidding war as passionate collectors compete to take it home.

A Word of Warning for Buyers

If you are attending an auction to buy rather than sell, excitement can sometimes outpace judgement. Always check the auctioneer’s commission and VAT in advance. A £15,000 hammer price could be significantly more after fees, so be sure to budget accordingly, otherwise you might have some explaining to do…

Selling Smart, Insuring Wisely

Whichever route you take, private, dealer or auction, one thing remains true. Your classic deserves to be well protected until the moment it changes hands. At Abbeyfields Insurance, we specialise in insurance cover for classic cars and multi car collections. Whether you’re downsizing, trading up or moving on, we are here to help make the transition smooth and stress free.

If you have any questions about insuring a car whilst its for sale, during transport or even when it is in a dealer’s showroom, talk to us. We are enthusiasts too, and we get it.

Looking to insure a classic car or collection?

Speak to our team at Abbeyfields Insurance for expert advice and tailored cover by calling 0121 550 2380 or email info@abbeyfieldsinsurance.co.uk