Overhaulin'

Buying a classic car by private treaty after it failed to sell at auction?

Hi, let's assume there is a classic car with an estimate of 4000-6000. It didn't sell at the auction and the auctioneer has now put it up for sale by private treaty. The asking price is now 5000, although it didn't sell at auction. Is this usual practice? I thought they would set a lower price now, to sell the car off. On the other hand, one could always make an offer for, say, 4000. Or even less? Thank you for your input.

Public Comments

1. Yes, you could make an offer. Not really much of a question, is it?
2. Sounds like the seller put a "Reserve Price" on the car. Had a set price for the car with the auction company. Estimate of 4-6 thousand, told Auctioneer not to let it go for anything less than 5 thousand. At the beginning of auction, the auctioneer will usually say this is a "No Reserve Auction or not" Now lets go back to the auction, all of those "Car Guys" did not bid up to the reserve price. There must have been a reason! Make an appointment with the seller to have the car checked out by a mechanic, get a written review of the car, if it seems like a sound car you may offer any price you want. $3,500.00 A mechanic's review is the best $100.00-150.00 you will spend, buy with your head, not your heart.Go to E-Bay Motors and look at comparable cars I am a classic Chevy Impala guy.