Naturally, with us being a the new boys on the block, you may have some questions about us and how it works selling your vehicles through our platform. Please see below some of the frequent questions we get, but don’t hesitate to reach out to us if you can’t find what you’re looking for.
Frequently asked questions
General
Who are The Cool Classics?
Launched in 2022, The Cool Classics is a privately run business, founded and co-owned by two friends. The company is registered in Northamptonshire.
Why should I register with The Cool Classics?
The Cool Classics is more than just a digital auction platform. We’re a community of younger people who are passionate about classic and modern classic cars. We’re encouraging the next generation to invest, enjoy and share in the pleasures of driving a cool classic.
Sellers
How much does it cost to list on The Cool Classics
Selling via TCC’s auction or Cool Classified avenues is completely free. We do offer additional paid services to help your listing standout, including a dedicated and detailed video, valeting and vehicle inspection service.
Do you accept any era of classic car?
Yes, our platform is dedicated to classic and modern classic vehicles from the pre-war era through to the early 2000s. We are committed to helping owners sell their vehicle for the right price and in the swiftest time period possible.
Will you sell everything you are offered?
We will give every vehicle the same level of consideration and ensure it meets the high expectations of our buyers. We do not favour one marque over another, nor vehicles of a certain value.
How do I submit my vehicle for auction?
Simply click the Sell Cool link at the top of the page, submit your vehicle details and our team will review the submission and contact you for further details.
What information do I need to provide The Cool Classics?
Your initial submission will include details of your vehicle and expected return. To curate the listing, we will arrange a date to capture photography and a time to discuss the condition and history of the vehicle with you.
Is photography of my vehicle free?
Unless otherwise agreed, we charge a flat fee for photography based on the costs to get a photographer to your location at a time convenient to you. We do not mark-up the cost of photography.
What information do i need to provide about service history and the car’s mechanical or cosmetic condition?
In order to ensure our buyers are protected, we will ask for every detail, including mechanical defects or cosmetic imperfections. We actively encourage you to give an honest reflection of your vehicle to ensure all parties are treated fairly. Our platform is centred around transparency, but TCC will not be held liable for any error or misstatement in or omission from the description of any auction or Cool Classified listing.
Can I set a reserve for my auction listing?
TCC will work with you to agree a realistic market-based reserve price to ensure that yours and buyers interests are protected. We will agree this reserve prior to the auction and should you want to reduce this once the auction has commenced, you will need to notify us in writing.
How do I respond to questions from the buyer?
Interested and registered buyers will leave questions on your listing in the form of ‘comments’ which you will be required to respond to. We advise you to respond to these as soon as possible.
Do you moderate the comments on a listing?
We don’t accept or reject comments where other websites might. Instead, if you believe a comment is inaccurate or misleading, please notify us.
Should I allow buyers to view my vehicle up for auction or advertised as a Cool Classified?
Absolutely. Whilst our buyers often purchase online without physically seeing the vehicle, we encourage you to accept viewings in person. TCC will arrange these viewings and if necessary, give you guidance on how to best answer questions the buyer may have.
Buyers and sellers are not to engage in activity that will facilitate the transaction outside of the auction with The Cool Classics. When selling via auction, you agree to TCC’s auction terms of agreement, meaning you will be legally obliged to pay the fees to The Cool Classics that would have been paid by the buyer had the auction been sold via the site.
The amount that will be paid is calculated on the last reserve you agreed with The Cool Classics or if none our minimum charge will apply (see the fees section below).
Do I get to review the auction or classified before it goes live?
Every auction is presented to the seller prior to going live to ensure accuracy. Cool Classifieds are managed by the seller and you will have complete control over presentation.
Can I withdraw my auction listing?
Once your listing has been published in the ‘Cool Classics to Come’ section, you cannot withdraw your listing. Listings withdrawn from this point onward will incur the costs that would have been paid by the buyer based on the last agreed reserve price, or if no reserve price has been set, a charge set out in our fees section.
Can I bid on my own auction listing?
You CANNOT and MUST NOT bid on your own auction. Attempts to deliberately over-inflate the value of a vehicle will be treated as cases of fraud. If you, a friend or relative is found to be behaving in this way, we will be ban you from our platform and engage the appropriate law enforcement agencies.
What happens when the auction listing completes?
Once the auction is complete, the cool commission is automatically charged to the Buyer’s credit card. This is not a down payment towards your vehicle. The Buyer will then be required to arrange the transfer of funds with you independently of The Cool Classics.
Will an auction listing or Cool Classified appear once it has been sold?
All vehicles, once sold, will be moved to our ‘Sold’ section where they will remain indefinitely. The listing will appear with the same description, images and ‘Sold’ price in this section.
The Cool Classics will not remove listings from our website to ensure we maintain our Search Engine credibility. Any requests to remove vehicles from our ‘Sold’ section will be at TCC’s discretion.
What happens if my auction listing reserve is not met?
If a vehicle does not meet the reserve price, we will give the highest bidder the option to purchase the vehicle at a price within 10% of the reserve price. We will then notify the seller of this offer (should the highest bidder be happy with this) and you will have 24 hours to make a decision whether or not to accept this figure.
If no agreement is made, we will give the seller the option to list the vehicle as a Cool Classified for a 30 day period.
Buyers
What is the Cool Commission?
The Cool Commission is a premium applied when buying a Cool Classic via our auctions. Our fees, which are the lowest in the industry, are set out below.
How much does it cost to buy a vehicle at auction with TCC?
As a Buyer, you are responsible for the full and final winning figure when the auction ends. You will pay the entire amount owed to the seller, with the Cool Commission paid directly to The Cool Classics via the credit card you signed up with.
Can I contact the seller during the auction?
If you have a question about the auction lot, post it in the form of a comment on the listing. The seller can then reply. This avoids duplicated questions from other bidders.
Can I view an auction or Cool Classified listing in person?
Buyers can always request a viewing to see an auction lot in person. We ask that sellers make auction lots available at convenient times.
Buyers and sellers shall not engage in any activity designed to complete or facilitate a transaction for the sale or purchase of an auction outside of the site.
How do i know if a vehicle has a reserve price?
All vehicles will have a reserve price unless stated ‘No Reserve.’
How do i avoid losing out in the last few seconds of the auction?
If a bid is placed at the last second, we will add an additional one minute to allow all bidders the opportunity to outline their final bid.
Can I withdraw a bid?
Once submitted, you cannot withdraw a bid. If you fail to complete the purchase, you will still be required to cover the Cool Commission as detailed in our fees section.
What happens when the auction listing completes?
Once the auction is complete, the cool commission is automatically charged to the Buyer’s credit card. This is not a down payment towards your vehicle. The Buyer will then be required to arrange the transfer of funds with you independently of The Cool Classics.
We do not offer refunds of the Buyer’s Cool Commision.
If the auction fails to meet the reserve price, can i reach out to the seller separately?
In the unlikely event of a vehicle not reaching the reserve price, the vehicle will then be advertised in our Cool Classifieds section to give you the Buyers and Sellers the opportunity to reach an agreement.
What happens if i end up winning an auction where defects have not been outlined in the auction listing?
Collecting Cars hosts auction listings, but the seller is responsible for confirming the accuracy of the listing. As a bidder, it is your responsibility to satisfy yourself of the details and condition of the auction lot before placing a bid.
All sales by traders made to consumers, whether sold by an individual or a business, do fall under the Consumer Rights Act 2015. The Act provides that wherever goods are purchased by a consumer, they must meet certain minimum standards.
If purchased from a trader, the sale item must be of “satisfactory quality”, be “as described” and be “fit for purpose”. Therefore, items sold by traders must not be inherently faulty at the time of sale, allowing for the fact that they are second-hand, must match the description and, allowing for factors like price, must be fit for their purpose.
For more information on United Kingdom consumer rights please see the Citizens Advice website at www.citizensadvice.org.uk/consumer
VAT, Duties and Taxes
For UK residents, you can find more information on the VAT, duties and taxes associated with purchasing a vehicle at www.gov.uk/importing-vehicles-into-the-uk/paying-vat-and-duty.
What are the different types of sellers?
We classify our sellers into two different categories: trade and private.
TRADE SELLERS are acting as a business not as an individual consumer. The business may own the car or they may have been given the authority by the end consumer to manage the sale of the auction lot on their behalf on a Sale or Return basis. The person listed has been appointed by the business to be the point of contact with arranging a viewing and with whom you will conclude the sale of the auction lot if you’ve won the auction.
As a trade seller, they must follow all government requirements and regulations and operate under the Consumer Rights Act 2015. The Act provides that wherever goods are purchased by a consumer, they must meet certain minimum standards. If purchased from a dealer, the sale item must be of “satisfactory quality”, be “as described” and be “fit for purpose”.
Therefore, items sold by dealers must not be inherently faulty at the time of sale, allowing for the fact that they are second-hand, must match the description and, allowing for factors like price, must be fit for their purpose. For more information on your consumer rights please see the Citizens Advice website at www.citizensadvice.org.uk/consumer
PRIVATE SELLERS are acting as the direct end consumer. The person listed as the private seller will personally own the car. You will deal with them directly to arrange a viewing and they will be the person with whom you will conclude the sale of the auction lot if you’ve won the auction.
Buyers
Selling in the UK
Our Cool Comission is 6% (Inclusive of VAT) of the winning bid.
Minimum Fee:
£480.00 (inclusive VAT)
Maximum Fee:
£6,250 (inclusive of VAT)
Enough Talk, submit your Cool Classic today.
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