Classic cars are a true testament to the craftsmanship and design of past eras. With their iconic styles and unique features, these vehicles hold a special place in the hearts of collectors and enthusiasts alike. Over the years, collector vehicle auctions have become increasingly popular, with collectors from all over the world flocking to bid on their favorite vehicles. In this blog, we'll take a look at the trends and insights that have driven the rise of collector vehicle auctions and explore the opportunities they present for buyers and sellers alike.
THE GROWTH OF COLLECTOR VEHICLE AUCTIONS
The classic car market has been growing steadily over the past few decades, with a particular surge in interest since the 2008 financial crisis. As investors looked for alternative ways to store and grow their wealth, many turned to collectibles, including classic cars. This trend has continued, with auction houses reporting record sales and strong demand for high-quality vehicles.
According to a report by Hagerty, the global classic car market was valued at $1.57 billion in 2020, up from $1.33 billion in 2019. This growth has been fueled by a number of factors, including low-interest rates, the emergence of new markets, and the rise of online auctions.
One of the key drivers of the collector vehicle market has been the increasing number of buyers from emerging markets, particularly in Asia. As wealth has grown in countries such as China and India, so has the demand for classic cars. This has led to an increase in the number of collector vehicle auctions taking place in these regions, as well as a rise in online bidding from buyers around the world.
Another factor driving the growth is the emergence of new technologies. Online bidding platforms have made it easier for buyers to participate in auctions from anywhere in the world. This has opened up the market to a wider audience, helping to drive up prices and create more competition among bidders.
INSIGHTS FOR BUYERS AND SELLERS
For buyers, collector vehicle auctions offer a unique opportunity to acquire rare and valuable vehicles. With so many auctions taking place around the world, there are plenty of opportunities to find the perfect car or truck for your collection. However, it's important to do your research and know what you're looking for.
For sellers, collector vehicle auctions can be a great way to reach a wide audience of potential buyers. Auctions often attract serious collectors and enthusiasts who are willing to pay top dollar for the right vehicle. However, it's important to choose the right auction house. A good auction house will have a strong marketing strategy and a proven track record of selling similar vehicles, which can help to attract the right buyers and achieve a good sale price.
One auction house that stands out in the collector vehicle market is BigIron. With over 35 years of experience in the auction industry, BigIron has a proven track record of selling a wide range of vehicles, including classic cars, classic trucks, and more. The BigIron online platform makes it easy for buyers and sellers to participate in auctions from anywhere in the world, while their team of experts provides comprehensive appraisals and inspections to ensure that every vehicle is accurately represented.
BigIron's collector vehicle auctions feature a wide range of classic and vintage vehicles, including muscle cars, hot rods, trucks, memorabilia, and classic vehicle parts from a variety of eras. With so many great vehicles on offer, it's sure to attract serious buyers and generate strong interest from collectors. What’s more, with the BigIron team’s extensive experience, comprehensive appraisals, and online platform, it’s easy for buyers and sellers to participate from anywhere in the world.
The rise of collector vehicle auctions has been a boon for collectors and enthusiasts, providing a platform for them to acquire and showcase their prized possessions. With the market showing no signs of slowing down, it's an exciting time to be a part of the collector vehicle community. If you’re looking to buy or sell a classic car, classic pickup or classic vehicle parts – BigIron has it all for every budget and every individual taste. Visit BigIron today and register to bid so you don’t miss the ride.