I'm going to be selling my 1973 Land Rover. My local trade area is not ideal for moving this vehicle on my own via ads, and right now my physical condition has me limited in my activities.

A fellow I've known for over 40 years (I guess you could call him a friend, although not a close one) has a used car dealership dealing in some absolutely prime used cars as well as a good number of classic, collectible, and "off-the-wall" numbers. He has an extensive internet sales section going, so he has a pretty extensive reach. He also has a generally excellent reputation.

I know he has done sales on consignment. I have not, and would prefer to not walk into a meeting knowing absolutely nothing.

I already know he has to make some money off of the deal and I have no problem with that. How are these agreements normally structured: He takes a commission? I name a price, he keeps anything over? I name a price, he adds a percentage? I really have no idea what to expect. Any help would be appreciated.

I just sold a car on bringatrailer.com with great success. They are a web based seller that specializes in unique and collectible cars, and most of the fees are charged to the buyer.

Even if not using them you can look at vehicles similar to yours threat they have sold in the past on their site. It will give you a good idea what the market price is.

I would guess that you have to agree on the final selling price and he gets a percentage of that price.

Happy to hear about your success with bringatrailer.com. I've been on the sight, but didn't know anything about them. Thanks for your endorsement.

I didn't have a spot to properly photograph the Rover, but I think I now do, so that's another potential avenue.

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I would guess that you have to agree on the final selling price and he gets a percentage of that price.

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Check around on pricing and have a simple written contract with him, in addition to the above.

Once he has it and displays and markets it, you cannot ethically take it off the lot as the buyers he enticed might buy it from you directly. He will want a reasonable amount of time to market it. I would rather pay a fixed fee with a defined term than a percentage.

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Originally posted by 4MUL8R:
Once he has it and displays and markets it, you cannot ethically take it off the lot as the buyers he enticed might buy it from you directly.

I would never do that to anybody in sales. I've had it done to me.

I used to own 2 used car lots. Generally he'll get a percentage. Around 10% usually. Sometimes more if it's a hard to move item. You agree on a minimum sales price of what you'd take (whether that's before the 10% or after is up to you but make sure it's written). Generally you will also state a time for the contract to be in effect......90 days is common. Again sometimes longer if it's a hard to move item. Have everything in writing.

I just sold an old work tractor on consignment at my local equipment company. The 10% commission was more than fair as far as I was concerned, especially since I've gotten good deals from them in the past. I was glad to not have to deal with tire kickers over the phone, the no-shows, etc. There was no paperwork, just a handshake agreement.

I sold a motorcycle once on consignment. The deal went fairly smooth and they took 12%.

It was through a local motorcycle shop and they just wanted to know my bottom dollar. It did in fact sell for more than that.

As part of the agreement/contract, demand (yes...DEMAND) the consignor pay you in cash. I sold a 1979 Ford Thunderbird on consignment many, many moons ago. When the car sold, the owner gave me a check. The asshole's check bounced and when I went to file a claim on it to get my money, the SOB had been arrested. Since the DA was pushing for incarceration, no money for me. The bounced check was just more evidence for the DA's case. $1,900 was a LOT of money for a 24-year old kid who was making only $1,200/month.

I would go the bring a trailer route. They will let you set a reserve and the listing fee isn't much. The buyer pays a % fee and is responsible arranging pick up and the website will help you with how to photograph and market it.

Another vote for bringatrailer.com

As long as your vehicle isn’t rusted out and you take a lot of clear pictures and fully divulge the condition of the vehicle you’ll be surprised what a vehicle like yours will bring.

long story short

be ABSOLUTELY clear what happens if the vehicle is damaged while in the possession of the consignement firm

basically - they will say YOU cover the damage that was caused while THEY were in possession. which means you are on the hook / relying on THEM to care for your vehicle

i consigned an acura a long time ago and it was damaged by one of their employees and I was on the hook. talked to an attorney and he said we could pursue it but for ~$2,500 it wasn't worth it... bad experience

ended up fully disclosing and selling it to a friend at a discount

ymmv

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Yes, would recommend. About a half dozen years ago, I was trying, unsuccessfully, to sell my then 9 year old Ducati (A lower end, but still ~$5k motorcycle). A few months of classified ads and cycle-trader stuff turned out to be a waste of my time. Local Ducati dealer made it easy, I'd guess they took close to 20%, but they said what # do you need? I gave them a #, about 6 weeks later, they called me and said come get your check (A cashiers check from the dealer). IIRC my insurance covered the bike while in their possession, but if they allowed someone to test-ride it was on them. If you have a little time and want hands off approach, I would do consignment, probably net more $ than an outright sell to a dealer... (Wait, maybe that's a good business idea? A Car-Max thing for recreational stuff like motorcycles, watercraft???)

Just to mention- before taking that path you might consider putting it in the Sigforum Classifieds section first- nothing to lose and you might be surprised.

I've bought and sold cars at my friend's "consignment" dealership, bought one at a Mecum auction, and have sold a car of Bring a Trailer (BaT) as well. As far as consignment dealerships go, I think 10% seems to be the norm.

For BaT, I sold using what is now the $99 classic method. The key is good pictures of the car...not just the shinny side but from underneath as well. Also just because you want to sell it on BaT doesn't mean they will accept it. Went to help a buddy of mine in selling one of his cars and BaT wasn't interested in accepting it. https://bringatrailer.com

Selling at auctions like Mecum and Barrett-Jackson can be a bit pricey. Mecum does hold an annual auction in Harrisburg that is coming up in a few weeks. Chances are you could still get it in if you try. https://www.mecum.com/auctions/harrisburg-2019/

If it is the Land Rover you have as your avatar, you may want to hold off for another year. I think towards the end of Q1 2020 Land Rover will debut the new Defender 90. It may trigger a bump/interest in earlier Land Rovers and enable it to bring a bit more money.