AAM90 22 Posted November 3, 2018 Hi All Long time watcher of this forum and thought it's about time I contribute! We are not finding the market that bouyant over the last couple of weeks but I have a few spaces to fill (current stock 19 cars) I buy from Dealer Auction & Sytner mainly. The prices the last couple of weeks are ridiculous. I can't see there is any margin after recon. Even the tatty stuff It's obvious everyone is chasing the same type of stock but how do they earn a profit? Answers on a postcard... John Share this post Link to post Share on other sites
Contracts 68 Posted November 3, 2018 Guess it depends on what price point you are buying. We get quite a few PX cars in and we have different traders who will bid depending on the value but they tend to cover us for these groups (£15-30k, £9-15k and £3-9k). Anything under goes on e-bay. Last week I sold the 3 sub £1000 cars we have accumulated to a chap who sends them to Nigeria. He mentioned he buys about 15 cars a week and I assume he is not alone in this which must take a good number of bangers out the market. In answer to your original point, The online remarketing sites don’t have the high charges of the main auction houses which must be reflected slightly in the values. Share this post Link to post Share on other sites
AAM90 22 Posted November 3, 2018 I'm in the sub 9k group Interesting you mention the Nigeria chap. The price old 4x4's fetch amaze me. I guess a fair few are being exported. The online auctions do have lower charges but I have watched BCA online and although the car prices are lower by the time auction fees are added total price is similar. At least with the online sites you get to try before handing over ££ when collecting, which is a must with the cheaper stuff Share this post Link to post Share on other sites
David Horgan 564 Posted November 3, 2018 Think new traders are getting confused myself over the need to earn a PROFIT CAP clean means makes retail money , take it back , moan the job is fu##ed and yer cant earn owt, then repeat till broke Actually heard a guy talking to his co partner at Manheim about getting £200 across it , Sad times Got thick customers trying to finance a 9k motor over 60 months for £200 a month and traders talking about £200 profit on a 5k car . Strange times . And we wonder why prices are all over the place Share this post Link to post Share on other sites
AAM90 22 Posted November 3, 2018 Think new traders are getting confused myself over the need to earn a PROFIT Strange times . Well said. My theory is cheap money We could do with an interest rate rise Share this post Link to post Share on other sites
Dave2302 387 Posted November 3, 2018 /\ /\ /\ Like Trouble is, a lot of these noob steppers are as DH just said, prepared to pay more at Auction just to make £200, but then when it all goes tits up they are crying and don't wanna fix it because they are losing money...................... OK they won't be around long trading that way, but they do make it harder for the rest of us, who do have overheads It doesn't matter what profession you're in, there's always a clown who can do it cheaper these days Personally, I don't buy anything from main stream Auctions nowadays, haven't done for years, I have a fairly unique buying strategy which works for me with my Workshop facilities. TBH the only thing I really need now is a (much) bigger Workshop, perhaps with a staff member or 2, but that's a can of worms in itself Share this post Link to post Share on other sites
MOTORS 25 Posted November 3, 2018 51 minutes ago, AAM90 said: We could do with an interest rate rise Interest rate rise = punters can't afford to swap their cars. Too many stock funders feeding the stupidity. Lots of cars went through auction this week from Nextgear - hopefully traders will realise soon that they need to make proper money. Share this post Link to post Share on other sites
andymc1973 199 Posted November 3, 2018 Yup popping up all over, they don’t prep their cars and vanish when there’s come backs Share this post Link to post Share on other sites
Lakeside 94 Posted November 3, 2018 (edited) We’ve been struggling to buy from auction this year, prices have been ridiculous even for scrap. Even the quiet periods havnt been cheap, we’re paying more for ten year old cars now than we was for five year old cars three years ago when we first started using BCA. Edited November 3, 2018 by Lakeside Share this post Link to post Share on other sites
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