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Buying at auctions.

Gary Ungless says...

Auctions are great fun. You meet your friends and look around lots of lovely cars and some restoration projects. Like most things in life that are really good fun, buying anything at an auction can be very costly. In fact it can be so costly that you will wake up at 2 o'clock in the morning screaming when you suddenly realise what you bought the night before!

Whatever you're buying, unless you are an experienced bidder you will probably end up paying more than you originally intended to. Like gamblers, people who buy at auction, me included,  only remember (and talk about) the great wins, forgetting to mention the stuff that was never used or was eventually sold for less than it cost.

Buying an Aston Martin car at auction.   

Bonhams and other high end auction houses charge large commissions and they justify these high charges by providing the vendors with with higher prices, accompanied by a high selling rate. The truth is that these higher prices and selling rates are very dependent on market sentiment and on who is buying at the auction.

Never buy an Aston Martin at an auction unless you know what you are doing, or are being closely advised by someone who knows what they are doing. Items at auctions are as described. There is no guarantee beyond that. Auction houses do have to declare obvious stuff such as a seized-up engine. They do not road test the cars, nor do they produce a full technical report (except in Australia). 

In the last few years, there have been many older Aston Martins sold as needing recommissioning after years in storage. They do not look too bad, but buyers should be wary. If you are unlucky, these recommissioning costs can sometimes be more than the cost of the car.

My advice is to arrive early and read the description very carefully with a very sceptical eye.  Inspect the car and its documentation and query any anomalies with the staff. Agree a price with yourself and stick to it (difficult).

See dates of all car auctions at calendar

For Aston Martins coming up for auction

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