This impressive view from the auction podium, photographed by Craig Jackson while Burt Reynolds was on the stage at the 2016 Scottsdale Auction, shows that Barrett-Jackson consistently fills their auction arenas with hundreds and thousands of pre-qualified bidders who want to purchase a collector car.

Take a good look at the photo above. No other auction company can match our formula for success. How does Barrett-Jackson attract such an expansive group of pre-qualified buyers to our auctions? The No Reserve option deserves much credit. It is important to remember that No Reserve is just one of the many ingredients in Barrett-Jackson’s “secret recipe” for bringing together buyers and sellers under one roof. While many collectors gravitate to the safety net of a Reserve auction, it is important to consider the big picture – including the volume and quality of the buyers on hand.

When a vehicle is offered at No Reserve, it is for sale. Period. This ultimate snapshot of the collector car marketplace brings the buyers. In 2005, Barrett-Jackson rocked the collector car world by offering all of the cars at its Scottsdale auction at No Reserve. This unprecedented high-energy format continued through 2011 when, at the request of some top consignors, a very small fraction of Reserve Lots were offered for vehicles with particularly remarkable provenance and originality. To this day, only a handful of the cars at Barrett-Jackson auctions are offered with Reserve.

Another important ingredient of the Barrett-Jackson “secret formula” is the company’s impressive team of automotive experts, which has been carefully assembled over the years with some of the best names in the business. These include (from left) Jim Mattison (Pontiac), JB Mattison (Oldsmobile and Buick), David Wise (Mopar), Kevin Marti (Ford), Steve Magnante (Mopar, drag racers and hot rods), Anthony and Roy Sinor (Corvettes), and Norm Meads and Jerry MacNeish (Chevrolet Super Sport and Z/28s). This team works to help review certain high-end and rare cars that may be represented, by the consignor, as having matching numbers or documented with show provenance.

Since its inception in 1971, The World’s Greatest Collector Car Auctions® has sold hundreds of millions of dollars’ worth of collector vehicles at No Reserve. This represents tens of thousands of cars across the Barrett-Jackson auction block. At the 2015 Scottsdale Auction – the largest single auction event in the company’s 45-year history – more than 1,500 collector cars were offered at No Reserve with total auction sales greater than $112 million. This was the largest single group of No Reserve collector cars at auction in the history of the industry.

While it is reasonable to latch on to a Reserve as a security blanket, it can also be viewed as a restriction. For various reasons, collectors will bid hesitantly as they wait for the Reserve to be lifted. That hesitation may negatively impact momentum. Ultimately, your collector car is currently worth what someone will pay for it. In a No Reserve auction, by contrast, bidders “stay on the gas” until they get what they want. And with the substantial number of prequalified bidders at Barrett-Jackson auctions, healthy competition ensues. Barrett-Jackson’s long-standing track record is the barometer for the No Reserve format’s success.

HOW TO SELL YOUR CAR AT NO RESERVE

This 1966 Pontiac GTO convertible is just one of hundreds of collector cars crossing the block at No Reserve during Barrett-Jackson’s Inaugural Northeast Auction, June 23-25, 2016 at Mohegan Sun in Connecticut.

Although you may have a good idea as to what your car is worth and have a price in mind of what you’d like to sell it for, do your homework before selling your car at any auction. Find out how much vehicles similar to yours – and as close to the condition of yours as possible – have sold at auction in the past. In the case of Barrett-Jackson auctions, this is easily achieved on Barrett-Jackson.com by going to the “Results” section of the website near the top of the home page. To see previous selling prices of vehicles like yours, enter as many parameters as you can in the fields on the page, click “Search” and you will have your results in seconds. Those results will include thousands of vehicles sold at prior Barrett-Jackson auctions, right up to our most recent event. As a whole, potential sale prices of original cars in popular colors are more predictable than radical customs. A green station wagon with orange and purple flames, for example, may appeal to a more narrow market than an all-original, matching-numbers Corvette or Shelby. Once the hammer drops, there are always exceptions, but it is important to approach the block with realistic expectations.

Up-front research is also critical. It’s important to enter the process with an honest expectation of your car’s value. Equally important is marketing. Before submitting your car to Barrett-Jackson, shoot quality pictures and write good and complete descriptions. Make every effort to timely send in a complete application – including the application itself, photography and a scan of your title. As we receive so many applications, incomplete applications may get sidelined. Ultimately the quality of the car, in conjunction with market demand, will have the greatest impact on the sale price. Be sure to maximize the condition and presentation of your vehicle.

Barrett-Jackson wants each consignor to carefully consider their No Reserve placement. Know that No Reserve works in conjunction with many other variables, with the number and quality of available buyers as paramount. Go ahead and kick the tires, as the application process is free of cost and obligation. Ultimately, it’s up to you to bring the best vehicle possible. Barrett-Jackson’s role is to create an exciting, qualified marketplace in a dramatic, colorful atmosphere. No other collector car auction company better embodies “supply and demand” better than Barrett-Jackson.

If you would like more information on offering your vehicle at No Reserve, we encourage you to speak with an Automotive Specialist or, better yet, attend a Barrett-Jackson auction in person.