Classic Car Auctions
It has been quite a few months since we sat down to talk to our audience through a blog post. We passed our 1-year anniversary a few months ago, so consider this post fashionably late. A lot has happened since then…we have certainly sold some great cars, several very nice Defenders, Range Rovers, 911’s, Mercedes’, Figs, a couple of prancing horses even, and many others. But better than that are the people we’ve met, the conversations we’ve engaged in, and the absolute blast of time we’ve had along the way. We appreciate all the support and sharing and comments we’ve received…keep them coming, we won’t succeed without you.
Being a man of science myself, I never think it’s a bad idea to repeat yourself to ensure your audience understands what you are saying. When we first started, we wrote a short piece about who we are and how it all works. The post can be found here and of course most of this was translated into a How it Works page. If you’re too lazy to click those, we don’t blame you … so just stay right here and we’ll cover the highlights on how we do things just a little bit different here. We call this out because as new people come on, we’re also getting calls from some old timers on just how the whole process works.
How are we different?
bidding options – Auction theory is big. We offer two styles of bidding (direct/exact OR dynamic/proxy) for whichever you prefer. Exact bidding is like Barrett-Jackson auctions…if you bid $35,000 the bid immediately jumps to $35,000. Proxy bidding is like eBay bidding…if you bid $35,000 the bid price jumps to the next highest amount based on the current bid and increment size. The word “proxy” indicates an automatic bidding system, the computer serves as your proxy and bids for you in your absence up to the max amount you specify.
reserves – Most of our cars (and any car being sold at auction) will have a reserve price set (a minimum price the seller will accept). Our bidding, as it relates to reserves, is different than others though. Unlike others, we protect the buyer’s best interest by preventing them from overpaying. For example, assume that we have a very nice no-rust low mileage manual Discovery (sounds good right?). Assume the reserve price is set at $15,000…and the current bid is $10,000. Now assume you bid $17,000. Any other auction site will immediately jump your bid to that $17k. Not here … we only increment up to the reserve price and ONLY proxy increase for you if someone else bids against you…giving you the potential to acquire the vehicle as cheaply as possible.
fees – We take a NO SELLER FEES approach. We charge a small premium of 5% of the final bid amount (minimum charge is $350) to an already low negotiated price. That’s it, no other charges, no hidden fees. Typical auction houses charge between 10-18%. We pay $100 referral fees to anyone bringing a successful buyer to auction.
buying assistance – We offer a NO COST optional Buying Assistance Program which is our way to help and protect buyers and sellers through the whole process. It is a voluntary opt-in process where buyers can choose to use Second Daily as the middle man when paying for the vehicle rather than paying the seller directly.
overtime offerings – If you listed a vehicle for auction with a reserve price and at auction close the reserve isn’t met, we can take the sale off-line into what we call Overtime Second Chance Offering. Here, as a seller, you will have the opportunity to send a second chance offer, a price that is at or below your reserve, to the top 3 bidders in an attempt to close the deal. It’s a simple process that we have developed that is executed within 24 hours of auction closing if the reserve is not met.
Buying or selling a vehicle online is not only overwhelming but often unnerving for many. We built Second Daily to address many of the online buying challenges…our goal here is to provide the best online buying and selling experience possible. Sign up for our newsletter down there at the bottom of the page. Register to be a member if you haven’t already. Bid on some great cars. Share our story and be a part of our success. Most importantly … be safe out there and Drive Fun Daily!
Consider selling with us!
No seller fees, secure bidding, no risk.
It’s as simple as that.