How much does a vintage car auction in New York cost?
- by admin
The cost of buying a classic car in New Jersey can run from about $50,000 to $150,000, depending on the car and the condition, according to a 2015 study by the Center for Auto Safety.
But the average is less than $30,000.
New Jersey is home to the state’s most expensive vintage car auctions in New England, according the study.
Most of the auctions are located in New Hampshire, New York and Connecticut, according a Center for Automotive Safety spokesperson.
The average bid for a classic vehicle in New Orleans is $125,000 and in Hartford $105,000 in the United States, according data from eBay.
The auction houses that operate in New New York also specialize in vintage cars.
The largest auction house is Auctions New York, which runs in Newburgh and operates in more than 1,200 lots.
The second-largest auction house, Newmarket Auction House, has three lots in New Haven and three in Newark, according Toepfer, the center’s director of antique automotive research.
The most recent auction in Manhattan, which sold a $8 million, 786-horsepower, 10-foot-long Cadillac DTS in 2012, is being sold for $10 million to an anonymous bidder.
“The amount of money that people are willing to pay for a vintage is absolutely astronomical,” Toepferman said.
“But I think it’s a great time to start thinking about how to get vintage cars into a garage, or maybe even to a museum, or even just to get them in the hands of a young person.”
The cost of buying a classic car in New Jersey can run from about $50,000 to $150,000, depending on the…
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