Nick 2 Posted December 26, 2015 Hey Guys, Right, went to my first Manheim auction on the 22nd and bought a Juke expecting CAP and GLASS pricing to be accurate but how wrong was I! Cap retail on my Juke is supposed to be £11400, Yeah right - All the used car sites they are going as low as £10000-£10500 (They won't go for £11400) I'm aiming and would be happy with £10750 - CAP clean wasn't to far out on this one at least at £9175. I was interested in a c-max, bmw 1 series, another juke, Kia sportage all only a couple of years old and every single car that went through that day went way over the CAP, GLASS valuations........So how do you guys value? I seem to think AT is the best place to see what cars are going for so who would pay the 2 biggest valuers in the country stupid money if there valuations are so far out? Btw i'm not. What are your opinions? Also would be interested for the smaller home dealers like me to know roughly the time it takes to shift from auction to sold. A week? Month? Longer? I understand it depends on how much profit you're aiming for. Lastly am I missing anywhere else to advertise? I got it on AT,Gumtree, Preloved, Ebay, Motors.co.uk, RAC, FB, What about pistonheads? or is that just American?Also bloody pisssed off that I got the car and the last owner or someone took out the sat-nav nissan connect sim card. So that's going to cost me another £120, not happy. Learning curve I guess. Tried looking her up on FB but no luck. Would she take it out if buying new again?Any help, advice, opinions appreciated as usual.Cheers,Nick. Share this post Link to post Share on other sites
Reggaj 12 Posted December 26, 2015 Welcome to the messed up world that is the motor trade... Merry Christmas Share this post Link to post Share on other sites
BORO PAUL 0 Posted December 26, 2015 how many auctions have you been to and whats your experience ?i've sold cars within hours for large profit and i've had cars for months for tiny profit ..or none, you cant say how long it will take to sell it, if it overpriced you may never sell it Share this post Link to post Share on other sites
Nick 2 Posted December 26, 2015 Been to 2 now. Not much experience as yet but gotta start somewhere. I believe there is some good money to be made in the business, i also work nearly full time 25-35 hours a week,meaning i'm flexible to attend auctions. I like the experience of the auction and even if I sold 2 cars a month i'd be a happy man. I'm going for cars from about £7000 to £10000 with full histories, one owner etc. The Juke I bought is Mint : ) But I think it will be down to price as to how quick I will sell.I sold my CBR600RR not so long ago and I'm not a patient man so dropped the price to quickly. The buyers said they would of happily paid the 400 pound more that I had dropped it for after only 3 days up for sale. So this time i'll try and wait just a little longer. Ha! Share this post Link to post Share on other sites
metcars 397 Posted December 27, 2015 Also bloody pisssed off that I got the car and the last owner or someone took out the sat-nav nissan connect sim card. So that's going to cost me another £120, not happy. Learning curve I guess. Tried looking her up on FB but no luck. Would she take it out if buying new again?You could try sending a polite letter to the previous owner with a little something to cover postage. Sometimes all the documents and/or spare keys get lost on its way to 'the block'. I've found Manheim to be pretty good about forward on things like this after the sale, have you chased it up with them? Share this post Link to post Share on other sites
BORO PAUL 0 Posted December 27, 2015 Been to 2 now. Not much experience as yet but gotta start somewhere. I believe there is some good money to be made in the business, i also work nearly full time 25-35 hours a week,meaning i'm flexible to attend auctions. I like the experience of the auction and even if I sold 2 cars a month i'd be a happy man. I'm going for cars from about £7000 to £10000 with full histories, one owner etc. The Juke I bought is Mint : ) But I think it will be down to price as to how quick I will sell.I sold my CBR600RR not so long ago and I'm not a patient man so dropped the price to quickly. The buyers said they would of happily paid the 400 pound more that I had dropped it for after only 3 days up for sale. So this time i'll try and wait just a little longer. Ha! no thats not much experience, keep going even if your not buying so to get the hang of things watch the people as well as the cars watch what they do outside more than insideYou would also be better cutting your teeth on cheeper cars i think and you could have 2 cars more likley to sell and keep you intrestedalso do your research well before the auction the problem you may have with the car you have chosen is there are some real good finance deals, PCP and lease deals on the newer stuff in that rangehow much profit you looking to make out of intrest give us a breakdown of what you have paidalso what got you inrested ? was it that TV show ? :) Share this post Link to post Share on other sites
Nick 2 Posted December 27, 2015 You could try sending a polite letter to the previous owner with a little something to cover postage. Sometimes all the documents and/or spare keys get lost on its way to 'the block'. I've found Manheim to be pretty good about forward on things like this after the sale, have you chased it up with them?Thats a good idea, the letter. Didn't think of that. I did find an email address on one of her services but no reply. I will ring Manheim tomorrow if there open and see if there is anything they can do. Cheers. Share this post Link to post Share on other sites
Reggaj 12 Posted December 27, 2015 Stick your ad up Nick. Share this post Link to post Share on other sites
Nick 2 Posted December 27, 2015 Well here it is http://www.autotrader.co.uk/classified/advert/201512239640828?search-target=usedcars&sort=default&maximum-mileage=up_to_30000_miles&maximum-age=up_to_2_years_old&price-to=11000&aggregatedTrim=Acenta Premium&minimum-mileage=from_20000_miles&price-from=10000&radius=40&model=juke&onesearchad=used%2Cnearlynew%2Cnew&page=1&make=nissan&postcode=GL10 3AS&logcode=pBut the point of this thread was about CAP & Glass pricing being so far out. Or is it that dealers are just prepared to pay more and take less profit?? Share this post Link to post Share on other sites
Tom 164 Posted December 27, 2015 Cap and glass's are only a guide they may not be 100% accurate. Some cars they, are some not. I use Glass's radar to see what i should expect in my area and this works well and usually gives more than the normal retail. I always work backwards. Find the car i want, what it should sell for and then bid accordingly. Rather than bid what the book says only to find it makes way below the book retail. As for Jukes the prices are all over the place on these anyway so don't chuck glass's and cap in the bin just yet. Share this post Link to post Share on other sites
Rory RSC 596 Posted December 27, 2015 Well here it is http://www.autotrader.co.uk/classified/advert/201512239640828?search-target=usedcars&sort=default&maximum-mileage=up_to_30000_miles&maximum-age=up_to_2_years_old&price-to=11000&aggregatedTrim=Acenta Premium&minimum-mileage=from_20000_miles&price-from=10000&radius=40&model=juke&onesearchad=used%2Cnearlynew%2Cnew&page=1&make=nissan&postcode=GL10 3AS&logcode=pBut the point of this thread was about CAP & Glass pricing being so far out. Or is it that dealers are just prepared to pay more and take less profit??how much is the car on finance ? Share this post Link to post Share on other sites
Reggaj 12 Posted December 27, 2015 But the point of this thread was about CAP & Glass pricing being so far out. Or is it that dealers are just prepared to pay more and take less profit??That and how long it takes to turnover a unit, glass radar as said is prob better for prices regional.. At that price point in my area the majority would be looking at financing it pcp/hp to buy, which I don't, so off they toddle to the bigger dealer who does offer this, it's a tough one but you could be sat with it for a while, saving grace is it's an auto which narrows it down a bit for those that's looking... Share this post Link to post Share on other sites
Nick 2 Posted December 27, 2015 Going to give it 10 days as it stands now, drop the price if no bites and see what happens. (Not rushing after the Bike sale this time) No overheads is also a positive for me. Also already got my eye on a few at the next auction. NEED more capital. I'll update if and when I sell : )On Finance, not a clue. Suppose I could look it up. Share this post Link to post Share on other sites
johnhartleycars 8 Posted December 27, 2015 Hi Nick. The guides are only a point of reference and should be treated with caution. Retail back pricing has to be used but you will not achieve franchise dealer levels of pricing when selling from home so have to allow for this. Your advert looks nice and clear with good pictures. Need to be careful of convincing yourself that you have no overheads. Trade insurance, phone bills, auction fees, accounting costs, multiple advertising costs, prep and valeting materials all add up even when operating from home. Wish you the very best of luck and do keep us posted on progress. 1 Share this post Link to post Share on other sites
Nick 2 Posted December 27, 2015 Yeah I understand pricing needs to be treated with caution. I look at CAP GLASS then look at AT Motors.co.uk find the mean and go from there. BORO Paul, no it wasn't the flipping cars show. I have fingers in a few pies. I work as a photographer with Getty Images - very part time now. I am head of maintenance at a huge 16th century mansion in the Cotswolds which I love, mainly because i'm the only bloke amongst 10 women, hehe! I have also tried selling watches on Ebay, Importing coffee from Indonesia, Property developing, but fell out with family, selling gadgets etc but think the margins/profits/risk and my liking for both cars and superbikes is where I think I want to be at the moment. Plus the risk involved is low, I have something I could sell back to a trader or stick it back through an auction if things go tits up.As for overheads, yeah you are right. But I still have faith that I can still and will make money out of this business : ) If im wrong im wrong but let's see what happens. We arnt talking millions........Yet!! Thanks for the best of luck and I will keep you guys posted. 1 Share this post Link to post Share on other sites
BORO PAUL 0 Posted December 27, 2015 well first thing you should do is take the car and take the photos again outside the 16th century mansion, i used to take mine outside a castle up the road and always looked greatyour car looks well in the add you have and looks a decent spec .. and its white, good luck with the sale Share this post Link to post Share on other sites
Reggaj 12 Posted December 27, 2015 And take a few of the engine bay also, good luck with the sale.. Share this post Link to post Share on other sites
