Always Research the Auction House
Not all supercar auctions are equal. Some auction houses specialise in high value supercars, while others deal with cars in general and have the occasional supercar come up for sale. Check the auction house has a good reputation, or at least go into the process with a full understanding of who you’re dealing with. Some auctions feature repossessed cars, which isn’t necessarily a bad thing since they often come at the lower price. However, it’s important to consider how this might impact the resale value.
Make Sure You Understand the Auction Process
Auctions are both in person and online. If you are new to auctions, then consider going along to an auction as an observer to fully immerse yourself in the buying process. Take time to observe professional buyers and how they stay calm throughout the bidding. Take note on how it is easy to get into a bidding war and allow emotion to overtake any sensible budget you had set.
If a car is open for bids that interest you, then you’re able to inspect the vehicle before the auction starts. As with all auctions, some cars will have a reserve, which means there is a minimum price to be reached before the car can be sold, or others with no reserve, which means the highest bidder will win, irrespective of a low winning bid.
Understand your budget
Auctions are a great way to find a supercar, but bear in mind all winning bids will be subject to auction costs. This is typically 10-15% of the cost in addition to the figure you have bid. You also need to take into account any registration fees and import taxes if you are buying from outside the UK.
Transportation might also be a factor, as once purchased the car will be your responsibility to take away. Some of the auction houses will be able to offer temporary storage while you arrange transportation, but this can be expensive, so best to have this organised in advance.
Always Inspect the Car Before Bidding
If the auction house will allow pre-bid inspections, take advantage of it. If you are not an expert, find one and have them inspect the car. Things to consider are:
Service records - How has the car been looked after? Supercars tend to be owned by people who understand they require regular maintenance by engineers who know what they're doing. Any gaps in the car’s history could be a red flag.
Chassis and VIN verification - Confirm authenticity of the car and everything matches with the online and physical paperwork. The auction house will offer no returns should you later discover a discrepancy which suggests the supercar is not as described. This is all your responsibility.
Wear and tear - Pay attention to the bodywork, tires, and brakes. Poor exterior care will always indicate a similar level of care to the internal components, engine and transmission. If the engine and transmission could be a concern, then hiring a specialist mechanic for an inspection is advisable.
Try Before You Buy
A fantastic way to research the models you are considering is to hire a supercar before you commit to a purchase. This is a great way to explore any potential practicality issues, such as storage, range, cabin size etc and then be confident you’re making the right choice for you. At PB Supercars, we have an extensive range of different makes and models so you can have fun with each of them for a short period of time. Who said homework was boring!
What were the most expensive supercars ever sold at Auction?
As of March 2025, here are the top 10
