So you’ve finally made the decision, and you’re going to go for it. Your dog-eared auction catalog has been your constant companion for the last three weeks. When you run into anyone you know, you’ve pulled it out to give them a look at your next true love. You’ve agonized over the estimate in the catalog; is it deliberately low, to encourage bidding? Or why is it so much higher than the price of any other example you’ve ever seen? Is it good for me that it’s so early/so late in the auction? How can I get inside information on what the car is really like?

All these questions and more have and will run through your mind as the sale approaches and you prepare to enter the auction arena. Even the most seasoned auction-goer should keep a few things in mind when hitting up the Monterey sales.

Knowledge is power. If there is a description of the car in the auction catalog, read it carefully. Make a list of any points that aren’t mentioned, such as ownership history and any recent work performed. These details may not have been available at catalog deadline, and while you may think you can’t inspect a car the way you might in a private transaction or at a dealer’s showroom, there are several opportunities of which you should take advantage.

Take a close look. A few weeks before the sale, contact the auction company to find out...