Car & Classic has launched an online auction feature that not only makes selling vehicles simpler than ever for enthusiasts, it’s also safe for both sides throughout.
Car & Classic Auction has an escrow payment function that holds funds in a secure third-party account until buyer and seller are happy with the sale.
For buyers, this means they don’t have to carry large sums of money when collecting a car, while for sellers it cuts the risk of no-shows after the auction.
Bidders also have to submit their bank details when registering and pay a £250 bidding deposit that is refunded after the auction.
Listings are free and sellers are only charged five per cent of the sale price, inclusive of VAT, making it the cheapest online auction of its kind.
The auction platform is also part of Europe’s largest and most successful classic and specialist vehicle website, which boasts audience searches for five million cars a month.
One of the first vehicles up for sale on the new platform is an Aston Martin Virage V8 Volante, alongside cars from Bristol, MG and Maserati.
The Aston was chosen because of its rarity and appeal. Despite its important place in Aston Martin’s history, the Virage fell out of favour but is now gaining pace with its dramatic early 1990s styling.
Only 234 of the 5.3-litre V8 were produced, and just 121 were, like this one, right-hand-drive. The 1995 model, with just 29,600 miles on the clock, also has the ‘Works Service’ package, making it even rarer, and adding wider wings, spoilers plus extra vents.
Tom Wood, CEO of Car & Classic, said: ‘We are thrilled to be finally releasing Car & Classic Auction and are excited to see how it will revolutionise the way people buy classic cars online.
‘Car & Classic has always been the biggest and best website for enthusiasts to browse and connect with buyers and sellers. Now they can securely buy or sell a classic car in just seven days, without ever leaving their home!
‘Whilst we all love browsing and buying classics, nobody enjoys the transaction itself – worrying about large cash transfers or having time wasted by buyers who change their mind at the last minute.
‘Furthermore, whilst Covid-19 is still an issue, a thorough online description and hundreds of images is going to be more attractive to some than a physical viewing.
‘Car & Classic Auction will give cars the best opportunity to be seen by genuine, valuable buyers through our massive audience of millions of monthly users and then securely transact using our industry-first Classic Car Escrow service.’
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