Auction prices.

[Grantlfc81 88]

Am I missing the point? Everything is going through auction at absolutely rediculous prices - people are buying vehicles for £500-£750 more than what you can go and pick it up on eBay for!  

Anything audi below £4K is literally going for stupid money, how are any of these clowns making any money?

also reserve prices seem to be going up through the roof from SMC - thurlow nunn and beadles etc.

Ive decided to knock the auctions on the head for a month or so. It’s becoming a waste of petrol even driving down there.

Edited February 3, 2018 by Grantlfc81

[HKQAC 2]

Completely agree, difficult to get the cars that need a bit of TLC for sensible money as well!  Have a look on Tootle, its where private sellers sell directly to dealers, sometimes i'll find a good one on there.

Hope that helps! 

[Temo 0]

It really is ridiculous!!!! I've also been having a tough time buying, prices go well over 600 - 700 over cap on some cars under 4k. Just cant figure out how they make a profit with all the fees and prep costs added. You can even find cars on AT that are cheaper then what it goes for in auction on some cars. CRAZY!!! 

 

 

[Grantlfc81 88]

So far this week I managed to buy a mini clubman diesel 2007 86k on eBay for a steal of £2600 and sold yesterday for £3500 (which evidently was way to cheap as the phone didn’t stop ringing for it) after a quick mot and PDI - and bought a 57 Audi TT 2.0 TFSI with 89k for £5100 which is absolutely mint - and sold also yesterday for £6495.

these cars would of gone for absolute silly money at the auction houses... 

[A & S 20]

Back in the day i never bought anything out of auction it was always the local newspapers, used to retail most of the cars purchased, some i put in to auction and still made a tidy profit. One of the reasons why i used to buy from private sellers was i could check the cars over and have a test drive as i was a newby about 20 year ago and was very nervous buying from auction. But now all my stock is bought from auction as this is an easy source of supply and cant be bothered with searching the net for stock as a percentage of the advertisers are traders advertising as private. 

I also know i can find some nice stock from private sellers off the likes of ebay if i searched and spent some time looking.

Prices at auction only go one way and that is up but when you go to private sellers they go the other way when you start bidding.

[lastyboy 23]

i Just dont understand how dealers are surprised about auction prices. It has done it every single year for the 23 years I have been doing the job this time of the year.

[sparky 274]

9 hours ago, lastyboy said:

i Just dont understand how dealers are surprised about auction prices. It has done it every single year for the 23 years I have been doing the job this time of the year.

I've made the same point before. I'm surprised that folk are surprised. However, I don't know what you think but Feb has all the signs of being another Jan so that's now two months at least of silly season, personally I fear it could well be more.  Not so bad for those of who can afford to sit tight and play the waiting game, but for those with more xxx's than babe station, it must be having a huge effect.

[justina3 518]

I think its different this year to every other year i have seen, normally the prices go crazy and you get outbid heavily, this year there is totally zero even worth putting your hand up for and people are still paying eye watering money, i am starting to notice some of this junk pop up which just looks silly 05 Ford fiesta with 110k no history more dings than you can count for £2495 seen the guy pay a shade over a 1K for it needed a clutch @ paint, window trims x3 must owe him over £1600 now thats going to sit there for ever and a day.

  

[Jack Regan 116]

11 hours ago, lastyboy said:

i Just dont understand how dealers are surprised about auction prices. It has done it every single year for the 23 years I have been doing the job this time of the year.

It's been like it last few months 

[Earunder 69]

It's a common cycle when the market looks like its dying down.  Someone has to hold the prices up as the Manufacturers love to crash the market, usually Christmas and January so it's no surprise its lasting a little longer this year.  Hold on tight and keep plugging away guys.

3 off Manheim today, all small Corsa's (2013->) 4-600 behind CAP clean, not what I was after, but a little touch for a few decent space fillers for the time being.  Now the part where they turn up and they are not grade 2/3's.

Gone away from BCA after yesterday, so let's see how Manheim goes again as I need about 20 cars.  

[twerp 69]

^ People forget to hang in there. 

You can still pick up some good buys if you watch online 5 x auctions  and don't leave your seat, even on busy auctions when others in the hall aren't paying attention.

[Ocsltd 133]

Case in point.

Watched a 2013 Fiesta 1.6 ST-2 in Frozen white, style pack, 1 owner, 13k miles, 2 x services, grade 2 (required 2 wheel refurbs, smart repair to front bumper and dent man), made £9700, before the tip, online buyers fee (assuming you were bidding online), AA inspection report.....

There's an almost identical car, at a Ford main dealer, (This one has 17k miles), molten orange, fully valeted, fully prepped, 2 year warranty, 12 months mot.... £10,291!!!!!! 

The only thing I can put my finger on, is wether the car at the Ford main dealer exists at that price, or is it just a 'hook'...??

[twerp 69]

But the auction car was a White Fast Ford.

Still dear, bearing in mind people only paid £14.5k new, and its 5 years old.

[trade vet 697]

3 hours ago, twerp said:

^ People forget to hang in there. 

You can still pick up some good buys if you watch online 5 x auctions  and don't leave your seat, even on busy auctions when others in the hall aren't paying attention.

That’s what our guys do.

[Ocsltd 133]

12 minutes ago, twerp said:

But the auction car was a White Fast Ford.

Still dear, bearing in mind people only paid £14.5k new, and its 5 years old.

But it wasn't even in Essex...... 

[Dan W 57]

22 minutes ago, tradex said:

Where do they get these strange sticker prices from...£10,291???

Ahh, I know, they have spent a fortune on consultants, and the general public 'figure' this means it's been reduced to the bare bones.

Always one to embrace new ideas so we will change all the prices to end in £X,291 'n see them fly away.

Usually because they use autotrader and the stupid price check thing. loved my old days at a big dealer going out every other day and changing the prices by £2 just to get on the first page of autotrader

[twerp 69]

55 minutes ago, tradex said:

Where do they get these strange sticker prices from...£10,291???

Ahh, I know, they have spent a fortune on consultants, and the general public 'figure' this means it's been reduced to the bare bones.

Always one to embrace new ideas so we will change all the prices to end in £X,291 'n see them fly away.

Either Evans Halshaw or Paragon use the last digit to denote time left in inventory before it goes to auction

[Earunder 69]

Hold on to your money and tighten up your purse's as it's continued into February.  We all know it'll quieten down, just try not to get caught out in over paying as your customers won't be over paying to buy it off you.

Looking at A/T and CarGurus the market is still holding value but not increasing as BCA sales have been showing.  January panic buying is always and will always be on the cards and this industry makes it a hard one to predict and anticipate, but history of the last (my last anyway 18 years) shows it'll go the same as always and drop off.

[rich89 11]

Audi S4

Cap clean is £22550

Went for £25800+ costs ( I was going to retail it at £27k)

Range Rover

Cap clean is £18k ( Retail is £20k)

Went for £18200.

 

How can anyone make any money at these prices!!

[Earunder 69]

Why did I go back on to BCA today!!!  Hahaha should have stuck with Manheim.

10 minutes ago, rich89 said:

Audi S4

Cap clean is £22550

Went for £25800+ costs ( I was going to retail it at £27k)

Range Rover

Cap clean is £18k ( Retail is £20k)

Went for £18200.

 

How can anyone make any money at these prices!!

I know, absolutely insane at the moment and all the heavy stuff £15k -> is dropping in price every 3 days.

Top it off had 2 offers on cars this week 2 k below asking price which is already a few hundred off Retail.  Evoque Dynamic and an E350 AMG Saloon.

Talk about getting the bum pinched both sides.  (Maybe the wrong terminology but it sounded good in my head so lets roll with that!)

[Ocsltd 133]

16 minutes ago, Earunder said:

Why did I go back on to BCA today!!!  Hahaha should have stuck with Manheim.

I know, absolutely insane at the moment and all the heavy stuff £15k -> is dropping in price every 3 days.

Top it off had 2 offers on cars this week 2 k below asking price which is already a few hundred off Retail.  Evoque Dynamic and an E350 AMG Saloon.

Talk about getting the bum pinched both sides.  (Maybe the wrong terminology but it sounded good in my head so lets roll with that!)

[sparky 274]

So, ten decent  proxy bids placed today, all unsuccessful. Just like the day before, and the day before that. Yes it will quieten down but by when and by how much? I certainly don't expect it to be changing for a good few weeks so I'm off to Barbados for week soon, the job can kiss my arse until March.

[RH Trading 80]

On ‎03‎/‎02‎/‎2018 at 9:44 PM, Grantlfc81 said:

Am I missing the point? Everything is going through auction at absolutely rediculous prices - people are buying vehicles for £500-£750 more than what you can go and pick it up on eBay for!  

Anything audi below £4K is literally going for stupid money, how are any of these clowns making any money?

also reserve prices seem to be going up through the roof from SMC - thurlow nunn and beadles etc.

Ive decided to knock the auctions on the head for a month or so. It’s becoming a waste of petrol even driving down there.

which auction are you going to  Grant?

I used to do the rounds at BCA -  Derby, Nottingham and Perry Bar, noticed a big difference in prices just between these 3 sites, Friend of mine regularly flew up to Glasgow (met by a BCA coach at the airport) he used to swear by buying cars there and shipping them to his place in Wolverhampton but he hasn't done this for past 6 months saying prices are just as crazy in Scotland now

[twerp 69]

6 minutes ago, RH Trading said:

Friend of mine regularly flew up to Glasgow (met by a BCA coach at the airport) he used to swear by buying cars there and shipping them to his place in Wolverhampton but he hasn't done this for past 6 months saying prices are just as crazy in Scotland now

I would watch the Scottish BCA auctions and rarely saw much that made it worthwhile to transport 350 miles to the Midlands. 

Some cheap commercials mind.

[Earunder 69]

3 minutes ago, RH Trading said:

which auction are you going to  Grant?

I used to do the rounds at BCA -  Derby, Nottingham and Perry Bar, noticed a big difference in prices just between these 3 sites, Friend of mine regularly flew up to Glasgow (met by a BCA coach at the airport) he used to swear by buying cars there and shipping them to his place in Wolverhampton but he hasn't done this for past 6 months saying prices are just as crazy in Scotland now

I used to get a few bargains between Kinross & Livingston, they used to hold them for me until I reached 6 cars so I could save some £'s on transport.  Lately though (well this year so far) GRADE 3's are 4's and everything making over CAP clean with delivery which negates the whole prospect.  Plus the sodding rust on some of them.