I really dont understand who buy from auctions and why?

[Roberto82 0]

I have been to some BCA and Manheim auctions, and really don't get who pay market prices for these cars, I talk mostly for newer cars 2012+ if same car is on autotrader 2015 y with 20000 miles for say 15000 then which idiot buy for 15000 from auction 99% are selling like this in auction?? and dont say from auction is better condition cars with 2 years 20K miles all are decent cars mostly.

Normally they should go minimum 10% less as they are on autotrader, keep in mind these prices on autotrader maybe are negotiabale little bit, prices drop in couple weeks, after 1-2 weeks most likely someone put it cheaper for 1-2K (seen very often)...???

 

[BHM 994]

Yes

[Mojo121 229]

I've always thought that if everyone stuck to CAP retail rather than focusing on making theirs 'the cheapest on..." then we'd all have a better time of it. It's slightly contradictory that some dealers moan about customers always low balling them but the same people make their business completely cost-centric. 

I mean, 

 

 

YES

[justina3 518]

What's not to get? If you owned a site with 50- 100 cars plus and you need to replace 10-20'at a time the costs of driving all over the place to save 10-20% arranging transport etc doesn't add up at.

A lot of medium to large outlets  make so much on finance the purchases cost of the car is no longer key.

[NoMargin 11]

Come on guys who's buying the M4YM cars, at those extortionate prices, I must have missed something, let me in on the secret, pretty please 

[metcars 397]

21 hours ago, NoMargin said:

Come on guys who's buying the M4YM cars, at those extortionate prices, I must have missed something, let me in on the secret, pretty please 

Savvy private buyers looking for bargain, that's who!

[BHM 994]

Hahaha. Some of them private punters must get a right old surprise when they drive their new pride & joy out of the gates. From what I've seen half of them don't realise the auction adds their fees - one old boy recently was whining like a knackered diff on a Vauxhall Carlton about his £300 fees on a £600 car. 

[NoMargin 11]

3 hours ago, tradex said:

We bought a Punto due to a private punter not reading the small print ahd having a heart attack athe BCA TIP, we were the underbidder and the auctioneer remembered...wasn't all roses though as the Punto had no top gear

 

....easy fix so not all bad.

Don't get me wrong there's some bargains there with easy fix problems, but some of the prices on them are eye watering. I still can't get my head around why private buyers would choose to ta car they may want to keep from the auction. 

[Beautiful South Martin 24]

Had an interesting conversation with one of the yard staff at my local auction (not one of the big 2). I was waiting for a car to be dug out and we were discussing the poor quality of stuff going through the auctions at the minute. I mentioned there was a lot of finance repoes going through, same cars rolling through every week, no V5s, no history, all needing major paint work. He told that they have an agreement with MONEYWAY Finance that they guarantee to return them 98% of CAP  and if they have not sold within 30 days they have to buy them back for that price.....WOW!

[justina3 518]

Buy them back ??? wow someones head will roll for that contract being signed.

[GreenGiant 287]

26 minutes ago, Beautiful South Martin said:

Had an interesting conversation with one of the yard staff at my local auction...

#FakeNews alert.

Had an interesting conversation with the lollipop man outside my kid's school, all about the remuneration package of the deputy head.

[Beautiful South Martin 24]

90k?

[andymc1973 199]

pretty sute he's correct, hence the auctioneer flogging the life out of them, they are utter scrap

[BHM 994]

If the auction houses are so desperate that they're signing up to a contract like that then they're heading for the knackers yard.

I, for one, have no sympathy for car auctioneers. They rape their buyers with their fees, they offer fuck all service to the same buyers and they have twisted the industry so that large vendors are paying next to nowt because they always expect to get blood out of us lads. They only have themselves to blame for any hardship. The sooner more of it ends up online, with sensible fees, the better.

[metcars 397]

11 minutes ago, BHM said:

If the auction houses are so desperate that they're signing up to a contract like that then they're heading for the knackers yard.

I, for one, have no sympathy for car auctioneers. They rape their buyers with their fees, they offer fuck all service to the same buyers and they have twisted the industry so that large vendors are paying next to nowt because they always expect to get blood out of us lads. They only have themselves to blame for any hardship. The sooner more of it ends up online, with sensible fees, the better.

Yes, I think they will end up online only pretty soon. As far as the auction houses are concerned the less opportunities buyers have to inspect cars in the flesh the better. Their descriptions are far from honest, always seeming to miss the important bits. I'm sure they'll do a brilliant job of selling the idea of how easy it will be to thumb through the descriptions, click, pay and arrange delivery without having to leave your desk. Welcome to the future.

 

[Arfur Dealy 823]

10 minutes ago, BHM said:

If the auction houses are so desperate that they're signing up to a contract like that then they're heading for the knackers yard.

I, for one, have no sympathy for car auctioneers. They rape their buyers with their fees, they offer fuck all service to the same buyers and they have twisted the industry so that large vendors are paying next to nowt because they always expect to get blood out of us lads. They only have themselves to blame for any hardship. The sooner more of it ends up online, with sensible fees, the better.

I buy around 90% online via Manheim silver check, they've given me an account manager now. It's the future because I can buy nationally without traveling myself, it's cost efficient even with delivery because its saved my time. 

 

 

 

 

[grant8064 219]

We keep trying to use the big online ones but after trawling through the catalogues and getting to hammer time find everything we want (I know we all want the same stuff) makes silly money + fees + delivery + the re con they forgot to put in the report.

Unfortunately we're stuck relying on the local auctions for now.