It had to happen eventually: Classic cars being auctioned on the Internet by professionals. And who better to do it than Canada's RM Auctions, widely regarded as the best in the business. "We're thinking outside the auction block," said Dan Spendick, Consignment Specialist, RM Classic Cars, Inc. "RM's 30 years of experience in the collector car hobby is being extended into the realm of e-commerce by offering our valued clients a cyberspace alternative to traditional auction venues."
Hmmm… as an observor I've often wondered how buyers at a live auction could determine whether a car is mechanically sound. Yes, they can peek in-and-under while an owner revs up the engine but it's still a game of chance. What happens when the buyer gets nothing more than digital images plus a few words of encouragement from RM? Here's the auctioneer's explanation:
"RM's expert Car Specialists, providing a third-party assessment of each vehicle's condition with verification of proper titles and ownership, promote confident bidding and buyer satisfaction; detailed condition reports and extensive photography of each consignment are featured at www.rmauctions.com for consideration weeks in advance of the sale; transactions are conducted from the comfort of home or office, and without the expense and time commitment of travel to a traditional auction venue; consignors' transportation costs are eliminated; and, RM offers successful bidders logistics assistance, including shipping and customs advice."
Is this cyberspace auction the way of the future? I doubt it. Most collectors like to get up close to the metal before making a decision. But it could lead to fewer live auctions; after all, if people are willing to buy "blind" on eBay, why not in big-time auction sites like RM? I'll be interested to see how this progresses and in particular if it leads to a growth of a business where professionals, for a fee, check an Internet auction vehicle for a prospective buyer. RM's first Internet auction takes place Sunday, August 9, 2009.
We actually offer the live auction, and the on-line auction to all of our clients and it works out great!
March 30, 2010 @ 7:39 am