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HOW TO BID WHY TOMMY DIAMOND AUTORAMA?
PREPARATION: THE REGISTRATION PROCESS
You are required to register as a bidder. If you are considering purchasing a car at the Tommy Diamond Autorama Auction, the process is simple, but there are several essential pieces of information that are required in order to obtain your Bidder Credentials. You may register in advance of, or during the event, but pre-registration by mail is recommended to allow us to have your Bidder's Credentials ready for you at the Auction Office on-site. The Bidder's registration application package will include all the information about Bidding Terms and Conditions. Please read the information carefully, fill out all the required information, and return your completed application along with the appropriate registration fee, required documentation and personal photograph. Completing this process will allow our staff to prepare your Official Bidder's Credential, which is required for identification in the auction arena.
The bidder's registration fee provides you and a guest admission to all days of the auction, reserved 'Bidder's Only' seating, reserved parking and hosted bar throughout the event. A complimentary invitation for two to the Opening Night Gala is also included.
Tommy Diamond Autorama maintains a Buyer's premium (or commission) of 10% that is added to the purchase price of the car. Car purchases can be settled by; cash, cashier's check, bank wire transfer, or a personal check accompanied with a Bank Letter of Guarantee.
RESEARCH: DOING YOUR HOMEWORK
Try to determine what you are looking for in a collectible car. This will help you with your selection as to the make and model, as well as the market price of the cars you are considering. Do you want a car that can be used and enjoyed on a frequent basis, or are you looking for a car to enter into Shows and concourses? Are you looking for a car that has already been restored, or a car that may need some TLC. Taking the time to think this through will enhance in the excitement of buying a collector car, and the enjoyment of owning and driving a collector car.
Sellers at Tommy Diamond Autorama are asked to provide details about their car's authenticity and condition. This information is displayed with the cars on window description cards. Once you determine the type and style of collector car that interest you, arming yourself with information specific to the marquee will help you accurately determine the value and condition. The Tommy Diamond Autorama website provides a wealth of information about the cars for the upcoming auction as well as sales results of cars form the past auctions.
Once you are at the auction-site, your diligent research and homework will enable you to assume the responsibility of verifying the authenticity and condition of your selected vehicle. Vehicle Identification numbers, correct authentic parts, and overall quality and condition are all critical elements to determining the value of a prospective purchase.
In addition, we suggest checking the comparative sales of similar vehicles through magazines, value guides, the Tommy Diamond Autorama website results, and other sources. Owners Clubs are also a valuable source of information. Tommy Diamond Autorama has made every effort to screen our consignments and assure high quality with realistic reserve prices. As the seller provides information, be sure to determine the authenticity, quality, condition and value of your purchase. If available, talk with the seller of the car at the event. Ask questions about the car and its history. Proud owners enjoy sharing their experiences. Many collectible cars have been sold to new owners because of the initial relationship between the seller and the buyer.
Remember, once the gavel drops, and the auctioneer calls "sold!" you are the new owner.
PREPARING TO BUY YOUR CAR
Some points to consider when buying a car:
Financing
Insurance
Transportation
Pre-InspectionTommy Diamond Autorama has relationships with companies that can provide these various services at the events or prior to arriving at the auction-site. Pleas call our office so we can assist you in contacting the appropriate company.
SHOW TIME ON THE AUCTION PODIUM
Cars going through the auction are pre-staged in an area adjacent to the auction platform entrance. Make a not of the lot number of the car you are interested in and determine when it will go to the staging area. This is a chance to se the car running and will allow you to know exactly when 'your' car will be up on the auction podium. To give yourself an estimated time as to when the car goes across the block, Tommy Diamond Autorama runs approximately 15 to 20 cars per hour.
Inside the auction tent, all attention is focused on the stage or auction podium. As each vehicle is brought onto the stage, the auctioneer will take a few moments to review various aspects of the car from information provided by the seller. Naturally, all information provided by the seller is subject to the buyer's verification. Television monitors provide information and display bids as they progress.
The excitement starts as the auctioneer accept the initial starting offer and begins the bidding process. All vehicles brought onto the stage are offered for sale with a "No-Reserve" status. They will be sold to the highest bidder, regardless of price or value.
As a result of your research, you will have determined the relative market value for the vehicles in you area of interest. Quick, concise bids on your vehicle of choice, sends a clear message to other prospective bidders, and the auctioneer. Firm bids to the value you have established, lets all parties know that this is your car and the auctioneer is aware that you are the real buyer.
Several Auction Company representatives are strategically placed around the auction stage to assist both the auctioneer and bidders. These people clearly call out bids to the auctioneer, and more importantly, serve to clearly guide you during the fast paced bidding process. As prices are being called, and bidding is fierce, these ring men are valuable allies in clearly understand where the bidding is. Build and establish a relationship with your ring man to attain the car of your dreams.
Tommy Diamond Autorama also has a Bidder's Services personnel that are available to assist customers through the process of buying a car. Prospective customers can use this service from the time they see a car advertised or in our catalog through buying the car at the auction.
SOLD: NOW WHAT?
After the gavel falls and the auctioneer declares the car "Sold!" the auction podium clerk will have a purchase acknowledgement form; know as a clear ticket that requires your signature confirming the final bid price on the vehicle. Remember, the buyer's premium (or commission) of 10% is in addition to the final bid price. You will receive a copy of the clerk ticket. This document will be transferred to the auction office where the necessary title and payment documents will be processed. You will need to go to the Cashiering Department located in the Auction Office, complete the required paperwork, and arrange for the payment so you mat take possession of your new purchase. We suggest that prior to processing your purchase at one of our auctions, you arrange for any transportation and insurance requirements you may need, either through your personal sources, or with companies available to you on-site.
If your require transportation for your new vehicle, several companies specializing in classic automobile transport are on hand at the auction venues to assist you with your needs. Contacting and comparing these companies beforehand will allow you to find one that suits your particular needs, and will give you an idea of price comparisons. If you plan on shipping your vehicle, we recommend obtaining a Bill of Lading prior to office processing. The cashier will need a copy of your Bill of Lading in order to exempt you from applicable sales taxes if you are taking the car out of the estate in which the auction is conducted.
The Tommy Diamond Autorama Company has taken great care to provide a conducive environment in which to buy and sell the world's finest collector automobiles. In realizing the ownership of your dream automobile, or to arrange the sale of your vehicle, please let us know if we may provide any assistance. Our sales staff professionals are here to help you year-round with all your bidding or selling inquiries, and to provide assistance with the entire auction process.
For additional information or to register online contact don@tommydiamond.net
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