Selling Your Aston Martin


The Aston Man reflects on Buying or Selling an Aston Martin
Auctions
Consignment Sales
Reasons to Choose Us
How do you establish the asking price for my car?
What happens when you sell my Aston Martin?
What about insurance when my Aston Martin is being driven?
How will my Aston Martin be presented?
How will my Aston Martin be promoted?
Where will my Aston Martin be kept?
What do you offer that I cannot or may not be able to offer?
What will it cost me?
Commission
How does that compare with an auction or a dealer?
Details of current Auction House charges
Dealers
Summary


The Aston Man reflects on Buying or Selling an Aston Martin

Back in 1985 when I was involved in buying what was my first Aston Martin, it was passion and enthusiasm that drove the market- prices were reasonable, whisper it quietly, there were bargains to be had but decisions about the best place to buy or sell an Aston was not critical.

It is now and failure of businesses and even established auction houses reinforce the reasons for establishing the brokerage business as it stands today.

But why Byron International- it's very simple, in our fourth decade specialising in a product means that we are in touch with the marque- look around the website, you will find details of just one make. But not just the cars we have for sale, our archive demonstrates our history and how many Aston Martins we have sold, valued or advised upon. We have product overviews that tell you about the history of Aston Martin and illustrated by cars we have dealt with.

People don't choose us for price, it is because when you add up the knowledge, the experience and the longevity of the business it establishes an inescapable logic of choice - for Aston Martin, it must be Byron International.

Whether a car needs to be checked with a specialist, if the car needs financing, if it needs shipping from one part of the world to another, we take care of all the detail and negotiation.

Like the owners, we are passionate about Aston Martins, but we have created a process- almost clinical in its efficiency to ensure that you have no problems with the sale of your car.

Sometimes, making the decision to sell your Aston Martin is not easy, particularly if it has a long association with your family. Then there is the question of how, when and where will I achieve the best return for such avery valuable and internationally traded asset whilst protecting it.

At Byron International, we understand these emotional and practical concerns. We are in our third decade of helping Aston Martin owners and in particular members of the A.M.O.C. (Aston Martin Owners Club) by acting as brokers in the sale of their cars.

Please visit our Archives where you willfind many Astons we have sold or valued over the years.

But before you commit to using our services, you may have questions - we have a number of the most frequently asked questions, but if there is something we haven't covered, just email sales@allastonmartin.com.

But before you commit your Aston Martin to us, let's take a moment to look at the alternatives - because we are realistic to understand that you have arange of choices.

Auctions:

Auctions have been around for centuries, long before the motor car, commodities from tobacco to farm animals and they have often been reported as setting "market prices".

In the immediate post-war period when David Wickens hired a circus tent and launched British Car Auctions, he could not have guessed that right into the nineties, car manufacturers would themselves be seduced into the belief that on a wet Wednesday in Nottingham 50 dealers in a closed auction would establish "book prices" for a new model!

And that belief from the 1990's persisted into the then growing Classic Car Auction scene- the Press Teams for every auction house will trumpet "Record Prices" neglecting to mention that their quoted record price includes a hefty Buyer's Premium and not reflect the return, after sales commission, to the Seller.

Of course, the auction houses have a strong market position - they will accumulate a large sales inventory, catalogued and presented at the cost of the Sellers. They will rnarket the event using selected "star cars" to promote the event but rarely market an individual Seller's car.

At a live auction, cars are presented and now many catalogued with an "Owner's Appraisal"- the value of these assessments is fiankly questionable. Our experience is that owners will either damn the car in with self-deprecating honesty or over describe a less worthy model- one approach damages the prospects of the Seller, the other has the same impact on the Buyer.

With ever enlarging inventories, the bidding process has becorne routine with auctioneers intoning bids not selling the product - before his retirement Robert Brooks was a master at "selling" from the rostrum. His bid calling alternated with features of the lot to reinforce Buyers reason to bid. The closest you get today is Charlie Ross and his theatrics at Goodings which enliven the auction and help drive returns.

The internet has now brought itself to dominate the auction scene as it has with all forms of retail. The volume auction houses like British Car Auctions lead the way and they remain far ahead of the classic car market in that area. The auction venues remain crowded, full of exhaust fumes, dubious looking dealers, the breakfasts are as unhealthy as ever and the auctioneers compete with each other for speed of speech, however unintelligible their utterances. But there, on the wall of the hall is the bid price and its source- hall or web- for all to see.

Compare that with the experience of Classic Auctions where the rostrum looks down at a screen and calls bids that could as well have come from the walls, the furniture or fresh air- after all running bids will always be around us- let's get some live screens!

And no "owner's assessments" for the volume sellers - for online bidders there are clear reports on every car allowing professionals to stay at their dealerships and make judgements that the auctioneers will stand by.

On top of that, some of the Classic Auction Houses charge an additional l% on their Buyer's Premium, one assumes to compensate for there being no need for the Buyers to purchase a catalogue for entrance!

With Covid 19 hitting the live auction business, there have been online auctions and a mix of new players coming in with specialism in online auction marketing.

www.collectingcars.com has built an entire business model on using the internet as its sole platform- the attraction to Sellers is that is free to Sellers- it is the Buyers who pay for the service with a 6% Buyer's Premium set to minimum of f600 and maximum of f6,000 all inclusive of VAT. Like their more established auction competitors there are onerous terms and conditions to agree to and bidders have to offer financial credentials to participate but on the face of it, not a bad system. There are advertising sites who have followed a similar route but as an adjunct to their existing classifieds. www.tradeclassics.com are longer established and their processes are more traditional with Regional Staff supporting Sellers.

But all these auction sites- online or live- fail in one key area- they offer no added value to the Seller.

Consignment Sales:

How many sellers, over the years, have heard a dealer say - "I've got someone for your car, let me have it on sale or return and I will pay you £x when we sell it."

So often, that deal fails to materialise but there is always the plausible reason the dealer finds to extend the consignment. What the Seller's car represents to the dealer is a profit opportunity without the costs- they may inflate the price of your car boosting the ego and perhaps making other stock appear cheaper- but will they sell and is your asset safe?

A well remembered case goes back nearly forty years when working for a Land Rover dealer- an owner had been persuaded to arrange the purchase of a new Range Rover from us through a third party dealer- he had allowed them to market his part exchange Range Rover and paid the balance in full to that third party. The new car was registered and ready to go, the third party had sold the part exchange and promptly went into liquidation. No car, no money.

And that risk is not just on consignment sales- classic car owners who lost out when Coys of Kensington went into administration after their London Sale in 2003 only to rise like a phoenix from the ashes in January 2004, must have had a profound sense of deja vu when it all happened again in April 2020! Beware, the internet reports that assets including trade­ marks of Coys of Kensington and Coys 1919 are sold subject to contract!

Because it is not just dealers come under the banner of consignment sales - you may note that when auction sales have completed, unsold lots remain available with a price tag. In any case, if you are considering placing your car with a traditional auction house, check how long after the sale, they retain the right to sell the car or charge a commission on its sale - the range on some agreements vary from 45 - 60 days.


Selling your Aston Martin

Making the decision to sell your Aston Martin is difficult enough, but not as difficult as the sales process. At Byron International, we are in our third decade of helping members of the Aston Martin owners club and other Aston Martin owners by acting as brokers on the sale of their cars.

Best Price

Once you have decided to sell, then we take away all the problems of dealing with what can be an Internationally traded product. That’s important because currency exchange and import duty can affect the perceived price of your car and our understanding of those differences means that you will get the best price for your car.

Trust

The car remains under your control in a secure store while we advertise the car and deal with prospective buyers. And we work only for you – unlike an auction sale, there is only one commission. Nor are we a dealer using your car to boost our stock on sale or return, we only sell our clients’ cars. We raise a sale / purchase agreement between the buyer and seller so you know exactly what your car has sold for.

 

No Risk

We have taken all the risk out of the process for you – if we demonstrate a car, it is comprehensively insured by us for the duration of that demonstration – the car is only released to a new owner when cleared funds are in YOUR bank account. Remember, most auction houses only pay out a month after the car is sold.

The Detail

Whether a car needs to be checked with a specialist, if the car needs financing, if it needs shipping from one part of the world to another, we take care of all the detail and negotiation.

Like the owners, we are passionate about Aston Martins, but we have created a process – almost clinical in its efficiency – to ensure that you have no problems with the sale of your car.

Sometimes, making the decision to sell your Aston Martin is not easy, particularly if it has a long association with your family. Then there is the question of how, when and where will I achieve the best return for such a very valuable and internationally traded asset whilst protecting it. At Byron International, we understand these emotional and practical concerns. We are in our third decade of helping Aston Martin owners and in particular members of the A.M.O.C. (Aston Martin Owners Club) by acting as brokers in the sale of their cars.

Please visit our Archives where you will find many Astons we have sold or valued over the years.

But before you commit to using our services, you may have questions – we have a number of the most frequently asked questions, but if there is something we haven’t covered, just email sales@allastonmartin.com.


How do you establish the asking price for my car?

Call us and describe your Aston Martin. Based on your description, our sales of the same model and knowledge of others available, we will estimate its market value. If you are happy with our estimate and the car is located in Europe, we will follow up with a personal visit to view your car and agree a price. We will also visit other countries if it is a significant or high value car.


What happens when you sell my Aston Martin?

When a transaction is agreed by you we raise a sales / purchase agreement between the seller and the buyer who makes direct payment to the seller. The exceptions are when either seller or buyer, require anonymity and when the buyer requires finance because as Licensed Credit Brokers we usually have to invoice the finance company. The car is only released to a new owner when cleared funds are in your bank account.


What about insurance when my Aston Martin is being driven?

When a representative of Byron International is driving your car or accompanying a prospective buyer on demonstration, your car is fully comprehensively covered under our insurance with Aon. A copy of our Insurance Certificate is available on request.


How will my Aston Martin be presented?

Aston Martin key fob

We will compile an extensive written presentation about your Aston Martin that details fitted options, upgrades and enhancements. With your permission we will also include ownership history, concours achievements, race or rally results, restoration, service, and maintenance invoices plus MOT history. In short we will draw out all the selling aspects of your car. All documentation is date collated and displayed in a leather bound folder which is shown to all prospective buyers that view your car. In addition, your car will be extensively photographed and when appropriate in a studio by a Professional Photographer.

This combination will form the foundation of our presentation.


How will my Aston Martin be promoted?

  • After preparation, the car will be professionally photographed ensuring a professional presentation for use in all media.
  • The history of the car will be carefully collated and recorded as part of a presentation that will be used in marketing the vehicle. Additionally, the history will be presented in a leather bound folder.
  • We will promote the car on our own website, www.allastonmartin.com
  • In addition, we advertise in significant relevant automotive websites in mainland Europe, USA as well as the UK.
  • We advertise in various specialist magazines and a selection of our past adverts can be viewed in the Archive section of our website
  • By telephone, email or letter to recent enquiries for your model Aston Martin that we have recorded in our extensive database.

Where will my Aston Martin be kept?

Your car will be held to your order at Vantage Engineering, an independent Aston Martin Specialist. Based in brand new premises on a small industrial estate in Rudgwick, West Sussex, they offer secure storage facilities for our clients as well as their own engineering expertise and on site inspection facilities.

Rudgwick is a small village located midway between the towns of Horsham and Guildford around 40 minutes from Gatwick and easily accessible from M23 and M25 so many attractions for Buyers.

The local roads are not as congested as London and therefore make them ideal for demonstrating your car. It may also be possible for you to achieve a saving on insurance by reducing cover to ‘laid- up’ status – great for Sellers.

For storage or service details please contact:

terry@vantage-engineering.ltd

peter@vantage-engineering.ltd

Vantage EngineeringInside Vantage Engineering


What do you offer that I cannot or may not be able to offer?

  • A long established reputation and trusted forum for business to take place easily.
  • A data base of current prospective buyers.
  • Confidence in debating values based on experience.
  • Comprehensive insurance cover during demonstration.
  • Finance for buyers.
  • Information for buyers, Shipping, Insurance
  • Up to the minute experience of how a change in currency exchange rates is influencing overseas buyers.

How different country import regulations can work in your favour. For instance, some Aston Martin models can be imported to the U.K. under the historic car scheme which means they only attract 5% VAT not the standard rate. And the picture overseas is constantly changing – New Zealand recently changed from an import duty to charging GST on a car. In Hong Kong, there is no import duty but 100% tax when you register the car. We keep on top of these facts so you don't need to.


What will it cost me?

Your car will be held to your order at Vantage Engineering Ltd.

This means you remain in control of your asset yet enables us to show your car to a prospective buyer. All of the Astons we are representing are located in one area, which adds to the buying experience and emphasises the specialisation of the brokerage.


Commission

There is a commission charge which is 10% of the sale price achieved for the car, with a minimum of £5,000, VAT is chargeable on all invoices.

The cost of storage

This varies dependant on value. It is from £30.00 per week plus VAT and includes a battery conditioner. For an accurate quotation contact Vantage Engineering - terry@vantage-engineering.ltd
peter@vantage-engineering.ltd


How does that compare with an auction or a dealer?

Byron International Brokerage

  • Professional photography of every car included in the marketing proposition, at no charge, presenting your car in the best possible light.
  • Full collation of all vehicle history and presentation in a leather bound folder and fully summarised in marketing presentation.
  • 30 years of specialist Aston Martin knowledge.
  • Continuous marketing of car until sold with multiple access opportunities for prospective buyers.
  • You retain control of your asset at all time.
  • Focussed only on client cars charging only a sellers commission.
  • Immediate settlement of sale revenue prior to release of car.
  • Clear terms of agreement with just 30 days notice on either side.
  • Auction companies Charge up to £1,000 for catalogue presentation and photography.
  • History précis offered in catalogue, no collation or specialist presentation of history.
  • Offer only one specialist Aston Martin auction in the current calendar so for most auctions, you don’t know whether they will attract the best buyer or a bargain hunter.
  • Marketing of the auction and inclusion of your car in the inventory with limited access to prospective buyers.
  • The auction company take control of your asset – if they sell the car, then they take up to 21 days to pay you but, if there is no sale, they require you to remove the car within 24 hours or pay storage.
  • Charge commission to seller and buyer and court the favour of both parties.
  • Credit terms mean payment of sales revenues up to 21 days after sale and there is history of an auction house failing and sellers losing their car and their revenues and the auction house rising like a phoenix to continue trading – not so much caveat emptor more caveat venditor – let the seller beware.
  • Commit you to onerous terms of agreement – for example there is an auction company who will retain the sole right to sell your car for 45 days after a failure to sell at auction.

Click here for details of current Auction House charges (correct as at August 2020)

Dealers

  • No guarantee of presentation quality in media presentation – normally showroom or external shots with limited description.
  • Individual presentation often inadequately collated.
  • Specialisation limited to Aston Martin dealers, too often it is general classic car dealers offering “sale or return” terms.
  • Continuous marketing as part of general inventory.
  • The dealer takes control of your asset physically and in terms of sales revenue.
  • Will always prioritise their own inventory over a consignment vehicle which is often presented to show dealer stock in best light.
  • Settlement terms by individual arrangement, little security against conversion of your asset.
  • Individual arrangements with rarely any contractual clarity.

Summary:

Byron International recognises that we have to keep giving more to clients and innovate in our service to maintain our position in the market. We broaden our advertising reach, develop our marketing and introduce innovations to our customers like studio photography.

And that is the key – we work with and for our clients – we don’t expect them to fit in with our calendar or accept financial risk. Trading in an environment where our fees in a transaction can be half that of the cumulative commission of auction houses, we don’t just deliver an outstanding service in an ever changing market, we deliver great value for money and optimised returns.

Byron International