The Best Classic Car Auctions [2024]

With technological growth and the COVID-19 pandemic affecting how people interact and get things done, it’s no surprise that classic car auctions online are increasing in popularity. Auction websites and collector car auction companies are beginning to realize the benefits of online car auctions.

Read more below about some of the best classic car auctions online and how to ensure that you protect your classic car and yourself when buying and selling online.

Enter your ZIP code into our free quote comparison tool above if you need to find car insurance for a vehicle you purchased in a classic car auction online.

What are the best classic car auctions online?

While there are several websites that advertise classic car auctions, there are a few that stand out. Below, we’ve provided an overview of some of the best classic car auctions.

1. RM Sotheby’s

RM Sotheby’s is headquartered in Chatham-Kent, Ontario, Canada. Rob Myers, the founder of RM Auto Restoration and RM Classic Cars, has grown his love of automobiles into an enterprise. 

Myers’ first business was a single-car garage that he began in 1976. By 1980, the business had been incorporated, and it had a large restoration and sales facility in which work was completed. Myers began building his car collection throughout the 80s and was eventually joined by collector car experts Dan Warrener and Mike Fairbairn in 1988.

After doing large amounts of business with other auction houses, the team founded RM Auctions in 1991. The company spent years building its auctions into prestigious events and expanding its services. 

In 2015, RM Auctions partnered with Sotheby’s to form RM Sotheby’s. The company has hosted many in-person events in countries all over the world. However, it shifted to primarily online business during the COVID-19 pandemic.

If you visit the RM Sotheby’s website, you will find a variety of cars available for sale and bidding. Specific dates are provided for upcoming online auctions. However, the company also hosts some in-person events throughout the year, including auctions in Arizona, Paris, Amelia Island, Fort Lauderdale, and Monaco.

2. Barrett-Jackson

Barrett-Jackson was founded in 1971 and is headquartered in Scottsdale, Arizona. It is known for “The World’s Greatest Collector Car Auctions,” which it hosts in Scottsdale, Arizona; Palm Beach, Florida; Houston, Texas; and Las Vegas, Nevada. 

Experts at Barrett-Jackson include Craig Jackson and Steve Davis, who have over a century of combined experience in automobiles. 

Barrett-Jackson does not host online-only auctions, and its website does not have current listings to bid on. However, it does allow individuals to register to bid online. If you register to bid online, you can “attend” the Barrett-Jackson auctions from home in real-time and bid on vehicles as they appear on the block.

Upcoming classic car auctions from Barrett-Jackson are listed online, and locations include Scottsdale, Arizona and Palm Beach, Florida.

Barrett-Jackson also offers car insurance for collector cars.

3. Mecum

Mecum was founded in 1988 by Dana Mecum and is headquartered in Walworth, Wisconsin. It has the longest continued single-family ownership in the auction industry, and it still takes pride in its close-knit family atmosphere. Many of its employees have worked at the company since its first auction.

Since its beginning, Mecum has become a world leader in selling collector cars, vintage and antique motorcycles, and Road Art. 

Mecum claims the following statistics:

• No. 1 in the world for the number of cars offered at auction
• No. 1 in the world for the number of collector cars sold at auction
• No. 1 in the United States for number of auction venues
• No. 1 in the United States for total dollar volume of sales
• The world’s largest collector car auction in Kissimmee, Florida
• The world’s largest motorcycle auction in Las Vegas

Mecum also allows online bidding for individuals who register for real-time events. It hosts several auctions throughout the year.

Read more:

• The Best Online Car Auctions
• The 25 Best Vintage Cars of All Time

What are the pros and cons of online classic car auctions?

The advantages of hosting classic car auctions online include:

• Convenience — You don’t need to travel to attend a live event. Instead, you can attend events from anywhere online, or you can visit a website that has 24/7 listings available.
• Ease of registration — Some auction websites, such as eBay, make it extremely easy to register and be able to vote. However, more esteemed collector car auction companies, such as the ones listed above, may require a little bit more time and effort to register.
• Lower fees — Fees will vary by website, but some will have smaller fees for buying online than you would have to pay when attending an in-person event.

The disadvantages of buying from classic car auctions online include:

• Potentially higher prices — Depending on how long the auction lasts, buyers can have more time to research and continue bidding, which could potentially lead to higher selling bids.
• No test driving — In most cases, you will be unable to test drive the vehicle and make sure that it runs smoothly. 

Due to the advantages of online car auctions, they became more popular during the COVID-19 pandemic as a way to build a collection while social distancing.

How do I buy a classic car from an online auction?

The requirements for bidding in an online auction will vary by company. However, RM Sotheby’s gives a good overview of the process on its website.

You will first need to register as a bidder. More reputable classic car auctioneers will require proof of identity, proof of funds, credit card information, and more if you’re registering as a company or dealer. 

Once you have registered and finished setting up your online account, you can begin bidding. Each listing will have instructions for how to bid, but many websites have similar rules. For example, most auctions will state that if someone bids within the last two minutes of the auction, it will be extended by another two minutes to avoid high bidders from stealing a sale at the last second.

Auctions typically work much the same across platforms and companies. However, make sure to read through the company’s rules and requirements before bidding. 

If you’re considering purchasing from a classic car auction online, make sure you have the right insurance for your new car by entering your ZIP code into our free quote comparison tool below.

Case Studies: The Best Classic Car Auctions

Case Study 1: Homeowner’s Insurance

John and Sarah recently purchased their dream home in a quiet suburban neighborhood. A few months after moving in, a severe thunderstorm caused a tree to fall on their house, damaging the roof and several rooms.

Fortunately, John and Sarah had homeowner’s insurance coverage that protected them against such perils. They immediately filed a claim with their insurance company, which covered the cost of repairs, allowing them to restore their home without incurring significant financial burdens.

Case Study 2: Auto Insurance

Emily, a college student, was involved in a car accident when another driver ran a red light and collided with her vehicle. The accident resulted in significant damage to Emily’s car and left her with minor injuries.

Fortunately, Emily had comprehensive auto insurance coverage, which not only paid for the repairs to her vehicle but also covered her medical expenses and provided compensation for her pain and suffering. Without the insurance coverage, Emily would have faced substantial financial hardships due to the accident.

Case Study 3: Business Liability Insurance

Mike owned a small restaurant that had been serving the community for several years. One evening, a customer slipped and fell on a wet floor, sustaining injuries. The customer decided to sue the restaurant for negligence, claiming that the staff failed to provide proper warnings or address the hazardous condition.

Thankfully, Mike had business liability insurance, which covered legal fees and the customer’s medical expenses. This coverage protected Mike’s business from potential financial ruin and allowed him to focus on improving safety measures in his establishment.

Case Study 4: Life Insurance

Sarah and Mark were a married couple with two young children. Tragically, Mark passed away unexpectedly, leaving Sarah and the children devastated both emotionally and financially.

However, Mark had taken out a life insurance policy that provided a substantial death benefit to his family. The life insurance proceeds helped Sarah pay off outstanding debts, cover funeral expenses, and provide financial stability for their children’s future.