There is no listing fee if you choose a No Reserve auction with DreamCarXchange. It only costs $95 to list a DreamCar if you choose to auction with a reserve.
It's simple! Just click on the "Sell a DreamCar" in the toolbar to begin. If you have not previously provided your payment information to DCX in the past, it will ask you to do so now. Then answer the questions/provide the information requested (including if you would like a reserve and the reserve amount), upload photos and videos, then one of DCX's Auction Designers will review and potentially ask questions about the car/your reserve amount. Once the Designer is satisfied and agree to the reserve, they will approve your DreamCar for listing. At this point you will be charged for the listing fee. The Auction Designer will then construct your ad. During construction, they may ask you questions or request additional information. After the draft ad is complete, it will be sent to you for your review and approval. If you have suggested changes to the draft, you will then communicate them to the Auction Designer. Once you are happy with the ad, you then approve and it goes to be scheduled. We will notify you when the auction goes live!
Please note that not all Dream Cars submitted will be approved for listing on DCX, as they may not be viewed as an "Enthusiasts Car" by DCX or DCX may not agree to your reserve price.
We believe in rewarding our loyal selling members by decreasing the buyer's fees associated with their listings. A seller's status is determined by how many DreamCars they list for auction or trade on the DCX site. The more DreamCars they list, the lower buyer fee % are associated with their listings:
- Pony Car: 1-3 Auction/Trade listings per calendar year
- Prancing Horse: 4-7 Auction/Trade listings per calendar year
- Raging Bull: 8 or more Auction/Trade listings per calendar year
Once a seller hits a status within the calendar year, they will remain at that status level for the remainder of that calendar year AND the following calendar year.
To get the most out of your DreamCar, there are numerous things you can do as the seller to increase the value of your vehicle:
- Provide as much documentation to "tell the story" of your DreamCar. This includes maintenance records, the Bid With Confidence Inspection Report, Window Sticker/build sheet, Manuals/Books that came with the car, original bills of sale (particularly for older DreamCars) etc.
- Make sure your DreamCar is thoroughly clean in and out before taking pictures, putting in a little more elbow grease or money will go a long way to how your vehicle presents itself.
- Provide high quality and numerous pictures and videos of your DreamCar, this has a huge impact on bidders.
- Ensure maintenance is up to date. If it is not, potential buyers will wonder what else may not have been done.
- Depending on the car, it may be beneficial to remove aftermarket items to bring the car back to stock.
- Documentation to provide authenticity if it is a "matching numbers" car. This includes things like a Certificate of Authenticity from Porsche, a tank sheet from a vintage Corvette, etc.
- Be a responsive, active seller. Utilize the comments functionality to engage with the community and potential buyers, and answer questions quickly and thoroughly.
- Be honest when submitting information and answering questions.
- Do not share the reserve price!
The key to this is assessing and agreeing to the value of the DreamCar being traded in. Therefore, for those buyers that are looking to trade their Dream Car in, we require them to provide the same level of information and pictures as if they were auctioning it. This provides the seller the same transparency they are providing on the DreamCar they are selling.
• Auctions in which sellers are open to trade-ins as part/all of the bid will be listed for 14 days to allow more time for seller/buyer to assess/agree to the value of potential trade-in. In addition, the seller will indicate what types of DreamCars they would be interested in as a trade-in, to ensure that we don't waste buyers/seller's time on cars they are not interested in.
- When there is an interested buyer with a trade-in, the buyer clicks on the page and provides DCX information, pictures, videos etc. and DCX will craft a high-level ad for the buyer and send it privately to the seller. Note, part of this information provided by the buyer is an estimated value of the trade-in.
• If the seller responds positively to the trade-in and would like more information and to engage further with the potential buyer, DCX will collect additional information from the potential buyer and DCX will construct the more detailed ad (similar to seller’s ad) for the seller’s private consideration. NOTE: This additional information needs to be provided to DCX no later than 7 days prior to the auction end. The potential buyer will then be billed an additional $95 for the detailed ad. The potential buyer has the option to then have DCX list this in the Trade a DreamCar section at no additional cost.
• The seller and buyer then will negotiate the trade-in value privately via the DCX site.
• If the buyer and seller arrive at an agreed value for your trade-in prior to the deadline of 24 hours before the auction closes, and this buyer is the winning bidder, the trade-in value agreed between the buyer and seller will be applied to the purchase price.
• If you can not come to agreement on the trade-in value, then the bidder is still able to bid on the car without the trade-in.
If the reserve on your DreamCar was met, DCX will provide you with the contact information of the highest bidder. At this point, you and the buyer complete the transaction between one another.
If the reserve is not met, we will contact the three highest bidders to ask for them to provide a best and final offer within 24 hours for you to consider. Note: DCX reserves the right to reduce the buyer fee we collect in order for the seller’s reserve to be met and the Dream Car sold.
- You will have 24 hours from then to decide on whether to accept the highest bid. If you do, we will provide you the contact information of the buyer.
- If you do not accept the high bid, then the DreamCar will go unsold. Note: DCX reserves the right to reduce the buyer fee we collect in order for the seller’s reserve to be met and the DreamCar sold
Keep in mind, that on DCX we help buyers and sellers agree to a price for their Dream Car. The transfer of funds, title and vehicle occurs off-line, between the buyer and seller.
A Bid with Confidence Inspection report is a tool that provides greater transparancey to potential buyers of the condition of a DreamCar that is listed. It is a simple yet comprehensive inspection report that the seller provides to their local shop (it is in the seller's best interest to choose a shop that knows that Make/model well) to complete after an inspection of their vehicle. This benefits the seller significantly for a simple reason, it reduces the buyer's risk. The less "unknowns" of a DreamCar, the more confidence the bidders have in the vehicle, resulting in higher bids for the seller. The cost for the inspection will vary by geography, make, depth of inspection (inclusive of paint meter readings, DME scans, leakdown tests, etc.) but generally cost between $150-$350.
You may lower the reserve at anytime by clicking the "Lower my Reserve" button on your Auction page. Once the auction is live, you can not raise the reserve price.
A No Reserve auction means that the highest bidder at the end of the auction wins the auction, no matter how much the high bid is. And yes, there is an advantage to selling at No Reserve. The main seller advantage of a No Reserve auction will quite often generate more buyer interest because the bidders know that the vehicle is definitely selling (vs. a reserve auction may not have bids meet the reserve). If a vehicle is guaranteed to sell, this increases the number of interested bidders.... The greater the number of bidders, the greater the number of bids (and competition), which results in higher prices. Think of it from a supply and demand standpoint, the supply is fixed (one DreamCar), the more demand (bidders), the higher the resulting price will be. In addtion, the buyer fee for a No Reserve Auction we refer to as a "Inline 6" and is only 3.00% which is lower than any DCX auctions with a reserve.
No, DCX's auctions are exclusive. However sellers are encouraged to advertise your auction on other sites. Just keep in mind that it should point them to the DreamCarXchange site only. If ads with asking prices or "best offer" are found elsewhere for your DreamCar, we will ask the seller to pull them down. If the seller refuses or we see this behavior repeat, we will cancel the auction and no longer allow that seller to participate in the DCX community.
Picture sizes should be 900px (H) * 1600px (W) and are limited to less than 500 KB in size. We suggest uploading no more than 10-15 pictures at a time to ensure they load properly. Remember, avoid photographing your DreamCar in direct sunlight!
Assuming that it is a no reserve auction or the reserve was met, you will receive an email with the buyer's contact information, and we will send the buyer your information as well. You then agree to the payment method (such as a wire transfer after both parties sign a purchase agreement and a copy of the title is provided to the buyer), arrange title transfer, shipping, etc.