A passionate antique appraiser working in the field of decorative and fine arts, Leigh Keno is the founder of Keno Auctions and the head of Keno Art Advisory. Leigh Keno also maintains an interest in vintage cars, and he enjoys racing and preserving vintage vehicles. He also regularly serves as a judge at Concours across the country including the Pebble Beach Concours d'Elegance
Buying a car at an auction may be a way to get a vintage automobile at an affordable price. Leigh Keno's advice on how to go about buying an automobile at auction is as follows:
- Read: Before the auction date, fully read the auction catalog and review the details of the car you want. Make sure that the vin number of the chassis matches that of the engine because the value of the car is affected greatly when the engine is not original. Thoroughly checking the catalogue listing will give you a better understanding of the history of the vehicle. Make sure that the car has a proper Title so that the auction house can facilitate transfer of title from the former owner to you if you are the successful bidder.
- Plan on repairs: The risk is high that you’ll have to pay for unexpected repairs if you win the auction. As you bid, remember that you may need to invest a few hundred to a few thousand dollars for conservation or repairs, depending on the condition of the automobile. If the car has previously been in storage for a long time, make sure that the car is in running condition and that the oil pressure is high. Low oil pressure may be an indication of serious engine problems. Also check the mileage on the odometer while keeping in mind that the odometer is often set back to make the car appear less "road weary". As a general rule, remember that the mileage on the odometer should match the car's age and history of use shown on the exterior, interior and engine.
-Hire an expert advisor: If you are considering a collector level car, it is very prudent to hire an specialist in the Marque. A true vintage car specialist knows what to look for in terms of originality on a car. The expert will give you an objective opinion on its condition and its worth relative to others which have sold recently at auction.
- Arrange for transportation: In most cases, you won’t be able to drive your new vehicle off the lot, so you’ll need to set up a method for hauling or shipping the vehicle home on auction day. Most automobile auction companies offer several options in terms of transportation of the vehicle. In addition you must make sure that the vehicle is on your insurance policy before it is moved.
