Hagerty has evolved from an insurance company into one of the premier destinations for collector car auctions. Their online marketplace connects passionate enthusiasts with classic vehicles, automotive memorabilia, and collectibles. This guide covers everything you need to know to buy and sell successfully on Hagerty Marketplace.
Understanding Hagerty Marketplace
Hagerty Marketplace launched as a natural extension of their collector car insurance business. They have access to valuation data on millions of transactions, giving them unique insights into the market. The platform combines Bring a Trailer-style online auctions with comprehensive vehicle history and valuation tools.
What Sells on Hagerty
- Classic Cars: Pre-1990 American and European vehicles
- Modern Collectibles: Limited edition sports cars, special editions
- Motorcycles: Vintage and collectible bikes
- Automobilia: Signs, memorabilia, literature, parts
- Boats: Classic and collectible watercraft
Fee Structure
| Fee Type | Buyer | Seller |
|---|---|---|
| Listing Fee | N/A | Free to list |
| Buyer's Premium | 5% of hammer price | N/A |
| Seller's Fee | N/A | 5% (min $250, max $5,000) |
| Reserve Fee | N/A | $99 if reserve not met |
💡 Pro Tip: The seller fee is capped at $5,000, which means on vehicles over $100,000, the effective fee drops significantly. A $200,000 sale only costs 2.5% in seller fees.
How the Auction Process Works
For Sellers
- Submit Your Vehicle: Complete the detailed submission form with high-quality photos (minimum 50-75 images), documentation, and history
- Review Process: Hagerty's team reviews your submission for quality and completeness (typically 1-2 weeks)
- Set Terms: Choose reserve (hidden minimum) or no-reserve auction. No-reserve typically generates more interest
- 7-Day Auction: Your listing goes live with comments section for buyer questions
- Close & Transfer: Winning bidder pays, you arrange pickup or delivery
For Buyers
- Create Account: Verify your identity and payment method
- Research: Use Hagerty Valuation Tools to understand fair market value
- Ask Questions: Use the comments section - sellers are expected to respond
- Pre-Purchase Inspection: Arrange PPI for serious purchases (highly recommended)
- Bid & Win: Pay buyer's premium on top of hammer price
Creating Winning Listings
Hagerty buyers are serious collectors who do their homework. Your listing needs to be comprehensive and transparent.
Photography Requirements
- Exterior: All four corners, front, rear, sides, top view
- Interior: Dashboard, seats, door panels, trunk, headliner
- Engine Bay: Overall and detail shots of components
- Undercarriage: Critical for showing rust or repair work
- Flaws: Document every scratch, dent, or issue - transparency builds trust
- Documentation: Title, build sheet, service records, provenance
Writing the Description
- Lead with the car's story and significance
- Document complete ownership history if known
- List every modification from stock
- Include service history with receipts/documentation
- Be upfront about needs or issues - buyers will find them anyway
- Specify what's included (spare parts, tools, manuals)
Pricing Strategy
Using Hagerty Valuation Tools
Hagerty provides free access to their valuation database, showing prices across condition grades:
- #1 Concours: Perfect, show-winning condition
- #2 Excellent: Outstanding, well-maintained, minor flaws only
- #3 Good: Driver quality, some wear, fully functional
- #4 Fair: Running but needs work, daily driver condition
💡 Strategy: Most private sales fall between #3 and #2 condition. Be realistic about your car's grade. Overgrading leads to disappointed bidders and lower final prices.
Reserve vs No-Reserve
| Factor | Reserve | No-Reserve |
|---|---|---|
| Bidding Activity | Lower engagement | Higher engagement |
| Final Price | May not sell | Often exceeds expectations |
| Risk Level | Lower risk | Higher risk, higher reward |
| Extra Fee | $99 if reserve not met | None |
Best Practices for Buyers
Due Diligence Checklist
- Research seller's history and previous auctions
- Read ALL comments - they often reveal important details
- Compare to Hagerty valuation and recent comparable sales
- Request additional photos if anything is unclear
- Always get a Pre-Purchase Inspection ($200-500 well spent)
- Factor in transportation costs (enclosed shipping recommended)
- Verify title status - clean titles only unless you know what you're doing
Bidding Strategy
- Set Your Maximum: Determine your all-in budget (hammer + premium + transport + immediate needs)
- Watch Before Bidding: Monitor auctions to understand bidding patterns
- Late Activity: Most action happens in final 2 minutes (soft-close extends bidding)
- Proxy Bids: Set your max and let the system bid for you
Avoiding Scams & Issues
⚠️ Red Flags:
- Seller unwilling to provide additional photos or documentation
- Pressure to complete transaction outside the platform
- Mileage discrepancies between title and listing
- VIN that doesn't decode correctly for the claimed vehicle
- Rebuilt or salvage title without full disclosure
- Seller avoiding questions about specific issues
Protection Tips
- Never wire money before seeing the car or getting clear title
- Use Hagerty's payment system for protection
- Run a vehicle history report (Carfax, AutoCheck)
- Verify VIN matches title and body stampings
- For high-value purchases, consider using an escrow service
Transportation & Logistics
Once you win, you need to move the car. Options include:
- Open Transport: $500-1,500 coast to coast, most economical
- Enclosed Transport: $1,000-2,500, recommended for valuable vehicles
- Drive It Home: Only if mechanically sorted and insured
- Fly and Drive: Good option for drivable cars within 500 miles
💡 Pro Tip: Book transport before the auction ends. Popular carriers book up quickly, and delays can cause friction with sellers.
Tax Considerations
Collector car transactions have tax implications:
- Sales Tax: Due in your state when registering (varies by state)
- Seller's Capital Gains: If selling for profit, you may owe taxes
- 1031 Exchanges: May apply to vehicles held as investments (consult tax advisor)
- Business Deductions: If buying for resale business, different rules apply
Building Your Reputation
Success on Hagerty comes from reputation. The community is tight-knit and remembers both good and bad actors.
- Complete transactions promptly and professionally
- Communicate clearly and respond to questions quickly
- Disclose everything - surprises kill deals and reputations
- Leave thoughtful feedback for other buyers/sellers
- Participate in the community through comments and discussions
Alternatives to Consider
- Bring a Trailer: Similar format, larger audience, higher fees
- Cars & Bids: Doug DeMuro's platform, modern enthusiast cars
- eBay Motors: Wider audience, less curated
- Hemmings: Classifieds-style, good for specific marques
- In-Person Auctions: Mecum, Barrett-Jackson, RM Sotheby's for premium vehicles
Final Checklist
Before Selling
- ☐ Professional detail and photography
- ☐ Gather all documentation and service records
- ☐ Address easy fixes that hurt perception
- ☐ Research recent comparable sales
- ☐ Write comprehensive, honest description
- ☐ Decide reserve strategy based on risk tolerance
Before Buying
- ☐ Set firm budget including all costs
- ☐ Research model-specific issues
- ☐ Read all comments and ask questions
- ☐ Arrange Pre-Purchase Inspection
- ☐ Line up transportation
- ☐ Verify title status and vehicle history