Here’s my take on this. I’ve used Hagerty for the past 30 years. Pretty solid company. I’ve also done auctions for the past 25 years and never a problem. When I sold my71 Charger at the 2010 auction, the year of the big storm my Charger was under consignment with Russo. In the papers I signed it states that you must have insurance on the car. I posed that question to Hagerty. They told me I was covered for the weekend of the show. They also told me to notify them when the car sells. If the car doesn’t sell you retain possession of the car however the tittle is retain for 30 days in case the car sell. Once the 30 days have passed Russo sends your title back. In the case of the 2010 auction my car was under the canopy that collapsed. Fortunately, the only damage was to the paint but it would of required a repaint.
The site had been restricted as a hazard and no one was allowed in for two days.
Once we were allowed back in the site there was a meeting with the auction personnel and the car owners. At that meeting it was explained how the event was to proceed. We were told that we would receive a call from an adjuster at which time an appointment was made for the adjuster to inspect the car. A rep from Hagerty spoke on how claim would be handled with Haggerty customers.
Prior to the meeting the auction decided to proceed with selling starting on Sunday and ending on Monday. Owners were given the option of folding, picking their car up and ending their relationship with the auction. They were also given the option of being refunded our entry fees. Owners wishing to stay with the auction would be given a block schedule later that afternoon one the adjusters were through. Russo footed the bill for the adjusters.
At noon I had an appointment and met the adjuster. The adjuster went over the car and handed me an inspection sheet. I then went to the Hagerty rep to find out how the damages would be paid. I was told that if I sold the car at auction I would retain any monies I made on the car. Also Hagert would reimburse me for the damages to the car. If I had chosen to leave the auction Hagerty would handle the claim just as if it were damaged and adjust the amount accordingly based on what it would have taken to repair the car. My decision was to stay with the auction.
The car crossed the block on Monday with the height bid of $17,500.00. I then loaded up and headed home. 3 weeks later I got a check from Russo for the bid amount minus their 8%. The next day I got a email from Hagerty telling me a check for $9500.00 was being sent based on the the damage to the vehicle. A week after I got the Hagerty check I received another check from Russo to cover the entry fees. So, as far as I was concerned both Russo and Hagerty stepped to the plate on that deal.
