The Insider's Guide on How to Sell Your Car: From Auctions to OnlineAutoGuide.comCraig ColeWed, September 23, 2026 at 3:57 PM UTCAdd us on Googlethe insider s guide on how to sell your car from auctions to onlineWhether you have a low-mileage classic sitting in your garage or you're spending late nights scrolling online auction sites, navigating the world of car auctions can feel like walking through a minefield of hidden fees, unwritten rules, and conflicting advice.Do you really have to pay a 22% buyer's fee? Is it pure suicide to list a vehicle without a reserve? Can you actually test drive a car before placing a bid?To cut through the urban legends, automotive acquisitions expert Ramsey Potts, Vice President at Broad Arrow Auctions (powered by Hagerty), sat down with us to share an insider's look into how the auction world actually operates and answer questions about what you need to know when it comes to selling you car: at auction, online or anywhere.AdvertisementAdvertisementHere's what we learned:1. Master the "3 Ps" of Selling a CarWhen preparing to sell a collector car, whether it's worth $10,000 or $10,000,000, Potts emphasizes that success comes down to three crucial factors:Preparation: It's not just about detailing the car; it's about making it appeal to the largest pool of buyers. "We love to personalize our cars-putting on aftermarket wheels or modern Bluetooth stereos," Potts notes. "Proper preparation means calculating whether reverting those modifications back to original condition will yield a higher net return."Promotion: You want as many eyeballs on your car for as long as possible. A car listed in an auction catalog 90 days before a sale inherently generates more interest and confidence than one entered two weeks prior.Place: Matching your vehicle to the right venue is essential. A rare pre-war classic belongs at a catalog sale like Amelia Island or Pebble Beach, whereas an everyday 1980s classic might perform significantly better on an online platform like Hagerty Marketplace.2. Debunking the Fee Myths: What You Actually PayOne of the biggest misconceptions in the car community is that auction houses take massive, non-negotiable cut-offs from both sides of a transaction. The reality is far more structured:AdvertisementAdvertisementBuyer's Premium: This fee is required by state auction boards and is set in advance. For non-catalog sales (like Barrett-Jackson or Mecum), it's generally a flat 10%. For high-end catalog sales (like Broad Arrow or Gooding & Company), it is typically 12% on the first $250,000 and 10% on the remaining balance.Seller's Fee: Unlike the buyer's fee, the seller's commission is negotiable and typically ranges between 5% and 10%, depending on the car's value, rarity, and whether you are selling it with or without a reserve.3. The Power of "No Reserve"Many sellers view setting a reserve (a minimum price threshold) as a necessary safety net. However, Potts argues that for mainstream collector cars with well-established market values, listing with "No Reserve" is often the smartest strategy. "When a buyer is scrolling at night and sees 'No Reserve,' that's the car they lie awake thinking about," Potts explains. "It signals to the world that the car is genuinely for sale."In an auction setting, momentum is created by the underbidders (the people who bid the price up because they see a genuine opportunity) forcing the serious buyer to pay true market value.4. Yes, You CAN Inspect (and Even Test Drive) Auction CarsOne of the most persistent myths is that buying at auction means purchasing completely blind.AdvertisementAdvertisementIf you are a registered, serious bidder, most reputable auction houses will allow you (or a hired third-party inspector) access to inspect the vehicle weeks prior to the event. In many cases, if you arrange it with the specialist ahead of time, you can even take reasonable cars out for a pre-auction test drive on preview day.5. The Biggest Mistake Collectors Make: Estate PlanningWhile over-investing in a restoration is a common financial trap (like spending $200,000 restoring a $50,000 car), Potts reveals that the most heartbreaking issue in the industry is a total lack of estate planning.Enthusiasts often keep meticulous financial records for their homes and bank accounts, yet leave zero instructions for their spouse or children regarding their car collection.If you own collector vehicles, write down a clear plan: specify what the cars are, what they are worth, and who should be contacted to handle their sale if something happens to you. Leaving your family with four cars in a garage and no guidance creates an unnecessary burden during an already difficult time.Want to Learn More? Watch the Full Interview!This is only a fraction of what Ramsey Potts covered in our full video interview. Watch the full episode above to learn:AdvertisementAdvertisementHow Private Treaty sales allow rare hypercars to trade hands completely under the radar.What happens if you make a "fat-finger" bidding error online.The story behind Ramsey's personal $7,500 Porsche 944 race car build.Why online auctions work just as well for 80-year-olds as they do for 20-somethings.With Hagerty, you get insurance protection by enthusiasts for enthusiasts. When you call, you speak with an enthusiast who "gets it". And if a claim happens, their experts return the vehicle to its original value and condition, with the right parts at the repair shop you trust. Get a Quote today at https://www.hagerty.com/insurance