A car auction can be over in a matter of minutes, and in that time, millions of dollars can exchange hands. Add in some egos, some panic, and rational thought being thrown out the window, and it can be quite an experience for even the most cool-headed bidder. Everyone has a friend that is a car expert that they go to for advice, but would you trust them when it came to making a million-dollar auction purchase?
Enter Putnam Leasing. More than just a leasing company, Putnam is your guide and confidant when it comes to finding that perfect car of your dreams. For many people, the thought of purchasing one of the vehicles that roll across the car auction stage seems a distant dream. The secret to successfully acquiring the car of your dreams at auction is knowledge and preparation. Putnam Leasing offers both. To get a better idea of what one can expect, we chatted with Steven Posner, Putnam’s chief executive.
“We love to get people pre-approved before any major auction and make sure they have a plan with them ahead of time. We are also with them at the actual auction that day,” says Mr. Posner. Many customers have been with Putnam Leasing for years, and he prefers to be at their side for the big moment. Usually, a buyer will tell him what car they are looking for, and Putnam Leasing will work on providing some pre-auction numbers to give them an idea of what to expect.
“I tell first-time bidders to bid with your heart and your head,” Mr. Posner said. “It is important to know what you’re bidding on and to be familiar with the car. It can be easy to get excited in the heat of the moment, but the one thing you don’t want to do is get caught in a bidding war, which can be very easy to do.”
Your dream machine is now yours, and your heartbeat is at a reasonable level, now what do you do? What about service? What if it needs restoring? The relationship with Putnam Leasing doesn’t just end when the auction closes, Mr. Posner said. “We had a customer asking advice on a restorer, so we helped advise him. We made the introduction and arranged for the car to be shipped directly to the restorer to go over the car. When the customer got behind the wheel, they were so happy. That’s the way it should be every time someone acquires any sort of fine automobile. There should be no problems. Putnam Leasing makes sure it is perfect for our clients, each and every time.”
So when you find that dream car, how do you choose who you want standing by your side? Since 1983, Putnam Leasing has been helping collectors drive the very best. “It’s the personalized service that we give that means a lot to our customers. Every Putnam salesperson has a passion for cars and collecting them. We all love this business and the people in it.” said Mr. Posner. That sounds like a pretty good person to have in the passenger seat.
1958 Ferrari 250 GT LWB California Spider Photos by Mathieu Heurtault – copyright and courtesy of Gooding & Company
