Your First Classic Car Auction: A Complete Guide for New Bidders

Walking into a classic car auction for the first time can be overwhelming. The rapid-fire bidding, the specialized terminology, and the high stakes all combine to create an environment that can intimidate even confident buyers. But with the right preparation, bidding on classic cars can be both rewarding and manageable.

Before the Auction: Research is Everything

The most successful auction buyers do their homework long before the gavel falls. Start by researching the specific make and model you're interested in. Understand the production numbers, common issues, and what separates a good example from a great one.

Check recent auction results for comparable vehicles. Platforms like Finds show recent sales data from across Europe, giving you a realistic picture of current market values. A 1972 Alfa Romeo GTV that sold for €35,000 six months ago is a better price indicator than a magazine valuation guide.

Key Research Steps:

• Study 6-12 months of comparable sales data
• Join marque-specific forums and clubs
• Understand the difference between "matching numbers" and "correct specification"
• Research the specific auction house's buyer fees and terms

Setting Your Budget (The Real Number)

The hammer price is just the beginning. You need to account for:

• Buyer's premium: Typically 5-15% of the hammer price. At Finds, we charge a transparent 5% buyer fee with no hidden costs.
• Transport: Budget €500-2,000 for enclosed transport within Europe, depending on distance.
• Registration and taxes: Import duties if applicable, registration fees, and first-time registration taxes vary by country.
• Immediate repairs: Even well-described cars often need work. Budget 10-15% for unexpected items.

Your maximum bid should be calculated backwards from your total available budget, not forward from the estimate.

Inspecting the Vehicle

Never bid on a car you haven't personally inspected or had inspected by a trusted expert. Photos hide sins. Walk-around videos are better, but nothing replaces being there.

Attend the preview day. Bring a flashlight, a small mirror on a stick for checking underbody areas, and a notepad. Check:

• Panel gaps and alignment (indicates previous accident work)
• Consistent paint finish under different lighting
• Evidence of rust in typical problem areas
• Matching numbers on major components
• Documentation and service history

Bidding Strategy: Stay Calm, Stay Disciplined

Auction fever is real. The competitive atmosphere, the fast pace, and the fear of missing out can push you well past your budget. Combat this with a simple rule: set your maximum bid before the auction starts, and do not exceed it.

Start conservatively. Let others establish the opening pace. Pay attention to who else is bidding — dealers often drop out earlier as they need to maintain margin, while private collectors may bid emotionally.

If bidding slows, a confident jump bid can sometimes close out competition. But don't use this tactic near your maximum — you might just encourage a bidding war you can't afford to win.

What Happens If You Win

Congratulations! But the work isn't over. You'll typically need to:

1. Complete payment within the specified timeframe (usually 24-72 hours for deposits, 7-14 days for full payment)
2. Arrange transport and insurance
3. Complete registration paperwork in your home country
4. Consider a more thorough inspection now that the car is yours

At Finds, we facilitate communication between buyer and seller after payment is complete, making the handover process straightforward.

Final Thoughts

Your first auction purchase is a learning experience. Even if you don't win, attending auctions builds knowledge and confidence. Watch how experienced bidders operate. Note which cars sell above or below estimate. This intelligence pays dividends when your perfect car finally comes up for sale.

The classic car market in 2025 continues to evolve, with online bidding making participation easier than ever. Whether you're in Bucharest or Barcelona, you can now bid on vehicles across Europe from your living room — though we still recommend seeing the car in person whenever possible.

Ready to start? Browse current auctions on Finds and see what catches your eye.