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#342 Bid Smart: Insider Tips for Buying and Selling Cars at Auction

#342 Bid Smart: Insider Tips for Buying and Selling Cars at Auction

Wrench Nation Mar 17, 2026 55 min
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About this episode

Dive into the world of car auctions with insights from David Purvis, director of consignments at Meekum Auctions, as he shares expert tips on buying and selling collector cars. The episode highlights the upcoming Meekum auction in Glendale, featuring rare hot rods from the Peterson Museum, and discusses market trends, the importance of realistic pricing, and prepping vehicles for sale. The hosts also touch on generational shifts in car culture, the rise of younger enthusiasts, and the value of maintaining originality. Plus, practical advice on recalls, vehicle maintenance, and the emotional side of car ownership.

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Technical Too Afraid to Ask
Concept

vinyl records

"And that is really how younger generations are reacting with physical media, i.e. vinyl records. Hey, are you buying? I mean, do you have a little turn to buy?"

Vinyl records are old-fashioned music discs that people are buying again because they like having music you can hold and play on a record player, instead of just using phones or computers.

Concept

digital burnout

"I think that's cool, because I think there's some digital burnout. And over the years on the show, I've been talking about that."

Digital burnout means feeling tired or overwhelmed from using phones, computers, and other digital stuff too much, so people want to do things that don't involve screens.

Concept

muscle cars

"Now, I just wish that we'd have a little bit of some EV burnout. Go back to the 60s and 70s muscle cars, please. Ah, look at you. You get all excited."

Muscle cars are big, fast American cars from the 1960s and 1970s that have strong engines and cool looks. Many people love them because they are fun to drive and have a special place in car history.

Concept

car auction

""It's a car auction. Gotta love Meekum. But I'm going to bring this story closer to you. You're going to feel this.""

A car auction is like a big sale where people bid money to buy cars. The person who offers the most money gets to buy the car.

Brand

Peterson Museum

""The Peterson Museum out of LA. Some of you been out there. In fact, I'll be out in LA this weekend.""

The Peterson Museum is a place in Los Angeles where you can see many cool cars and learn about their history.

Concept

hot rod

""But the Peterson Museum at Meekum Glendale, March 17th to the 21st, they're bringing together a whole hot rod roundup. What does that mean?""

A hot rod is an old car that people change to make it faster and look cooler. It's a popular hobby for car fans.

Car

Gmc Sierras

"Six players drove custom GMC Sierra's EVs, I believe, each equipped with built-in tee box inside the bed through rugged Western terrain and mountains."

The GMC Sierra EV is a pickup truck that runs on electricity instead of gas. It can do tough jobs like a regular truck but uses batteries to move.

Car

Nissan Not Nissan

"...hese Madison Avenue big shots and figure out why not Nissan? Why not Toyota?"

The Nissan Note is a small car made by Nissan that is easy to drive in cities. It has enough space inside for people and things and uses fuel efficiently. Many people buy it because it is practical and reliable.

Concept

national vehicle safety recall week

"You can tell your family this week with your birthday, March 2nd through the eighth is national vehicle safety recall week. If you got a car, you may have a recall."

Every year, there's a special week to remind people to check if their car has any safety problems that need fixing. If your car has a recall, the manufacturer will fix it for free to keep you safe.

Concept

car payment

"Be careful. What are your options? Do you want to use car payment? Do you want a new car payment? So it's not always my car is not worth it..."

If you buy a car with a loan, you usually pay a set amount every month called a car payment. This is money you pay back to the bank or dealer until the car is fully paid off.

Concept

auto sales statistics

"Looking actually at an estimate of auto sales statistics. From what I'm finding, the US auto sales are projected to dip 15.8 million units in 2026, marking an annual decline since 2022 due to high vehicle prices and consumer demand."

Auto sales statistics show how many cars are sold in a country or area. They help people see if more or fewer cars are being bought over time.

Brand

Ford

"There's been a volume drop across the board where there's Ford, Subaru, Mazda."

Ford is a big car company from the US that makes many types of cars and trucks you might see on the road.

Brand

Subaru

"There's been a volume drop across the board where there's Ford, Subaru, Mazda."

Subaru is a car company from Japan that makes cars with special engines and all-wheel drive to help with driving in bad weather.

Brand

Mazda

"There's been a volume drop across the board where there's Ford, Subaru, Mazda."

Mazda is a Japanese car company that makes cars that are fun to drive and sometimes use special engines.

Brand

Hyundai

"Hyundai. Hyundai, although Hyundai I'm excited about. I think Hyundai's got some really cool incentives."

Hyundai is a car company from South Korea that sells cars with good warranties and prices.

Concept

new car incentives

"I think Hyundai's got some really cool incentives. My point is this, first quarter, lay low."

New car incentives are deals or discounts that car companies or dealers give to help people buy new cars more easily or cheaply.

Concept

soft sales

"This may sound brutal, but let's continue the pain with soft sales for what? For maybe a reduction in prices, unlike our housing market."

Soft sales mean fewer cars are being sold than normal, which might make prices go down so more people buy cars.

Term

hoop-dee

""Stop it. Enjoy your hoop-dee. Get some nice fuzzy duct tape. Well, duct tape. No, man, I was trying to make it positive.""

"Hoop-dee" is a fun way to say an old or not-so-nice car. It's a car that might have some problems but still gets you where you need to go.

Part

struts and shocks

""I'll tell you what, the fastest way for a car, before we take a break, you want to know what that is? About a $2,000 investment of struts and shocks. Add another thousand for tires that's three grand on the average, whatever.""

Struts and shocks are parts that help your car ride smoothly by absorbing bumps. Fixing or upgrading them can make your car feel like new when you drive it.

Part

control arms

""Assuming you don't have control arms and all this other stuff. But you know, spend a little money, save a lot of money. Stop crying.""

Control arms are parts that help your car's wheels move up and down smoothly while keeping them steady. If they are worn out, your car might not drive straight or feel stable.

Concept

original paperwork

"Well, the more it depends on the model, but like a Chevrolet General Motors in the 70s, 60s, and you want to have that original paperwork and you want to show it off because not many people have it. But definitely anything that's gone, going to verify the options, the way the car came from originally, that's usually something that's going to really help you when you sell your car."

Original paperwork means the real papers that came with the car when it was new. They show what the car had from the factory and help prove it's the real deal, which can make the car worth more.

Part

air ride suspension

"and his people were doing suspension. I had the air ride suspension and it was collapsing on one corner. And you don't need to pair of air struts up front on the vehicle. We do a lot of them. They're common."

Air ride suspension is a special kind of car suspension that uses air bags to make the ride smoother and lets you change how high the car sits. But if parts break, it can be expensive to fix.

Term

aftermarket

"their people came back and said to me, can we get it after market or eBay? Oh, so I listen, I, you know, I always tell our audience, I'm really like our bedside manner."

Aftermarket parts are car parts made by other companies, not the one that made the car. They can be cheaper or better but might change how original the car is.

Concept

historical value

"And we now lost, I think the word is providence, right? The historical value because we know that celebrities bring in a little extra oomph. And here's this one suspension component barely used. Not factory on a very high line vehicle."

Historical value means how special and valuable a car is because of its story, like if a famous person owned it or if it's very rare. Keeping the car original helps keep this value.

Car

Porsche 911 GT2 RS

"European sports cars like Porsche, GT2 RSs, Ford GTs. It's a real good market for cars like that."

The Porsche 911 GT2 RS is a very fast and special version of the Porsche 911 sports car that many car lovers really want.

Concept

concourse

"We just had our concourse in the Hills Phoenix Children's Hospital. This is like the 7th or we had Peter von Leon."

A concourse is a fancy car show where very special and old cars are shown to people and judged on how nice they are.

Car

Mercedes-Benz 220S

"I got a ton of classics in the garage from the 56 Benz 220S to, you know, the Chevelle and a bunch of others."

The Mercedes-Benz 220S is an old fancy car from the 1950s that many people like to keep and collect.

Car

Chevrolet Chevelle

"I got a ton of classics in the garage from the 56 Benz 220S to, you know, the Chevelle and a bunch of others."

The Chevrolet Chevelle is an old American car known for being fast and cool, and many people like to collect it.

Concept

future collector car market

""there's no future collector because obviously, right? She's into the Supras and talk to us about that future collector car market that is popping.""

Some cars become more valuable as time goes on because people really like them or they are special. The future collector car market is about which cars will be popular and worth more in the future.

Term

blue chip car

""we've got some of the pretty, pretty good piece blue chip type car on 5,000 original miles. I mean, that that is just going to take off in the next 10 to 15 years""

A blue chip car is a car that is very special and usually keeps its value or becomes worth more money as time goes on.

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