RE: Gone in 60 Seconds

[V8mate]

nsmith1180 said:

Another great report with the selling prices at the end which is really helpful, now I can go to the boss and tell him he is buying in cars way too expensive!

Where is he getting cars from that he pays more than auction prices. Have you given up making a profit?

[nsmith1180]

Christ knows!

[confused_buyer]

I must confess I do really admire V8Mate's staying power at recording all these. Auction houses are not the nicest places to hang around after the novelty wears off - full of fumes, lots of standing around, and waiting 2 hours for one car which turns out to be a dud.

Thursday night report (which I assume is the cheaper car report planned). A more diverse seething mass of humanity you will have to travel widely to beat Thursday night at Colchester. It really is the sharp end of the trade and more "how it used to be". Some of the characters there are 25+ years in the trade in the local area and have never had a trade plate between them. The DVLA don't bother them because, literally, they don't get paid enough to have their houses burnt down. Same goes for trading standards.

Last time I went a fight broke out between one of the drivers and a Polish guy when the Polish chap started shouting at him to open the bonnet. The driver got out and told him he should "**** off back where he came" and pinned him up against the wall.

Half the cars are complete duds, quite a few are lethal but in amongst all the complete rubbish you do get the odd really nice genuine car. The problem is the prices tend to be very high and after buyers fees you are probably better looking on ebay. Doesn't mean you can't get lucky occassionally though.

Edited by confused_buyer on Wednesday 24th June 12:32

[V8mate]

confused_buyer said:

I must confess I do really admire V8Mate's staying power at recording all these. Auction houses are not the nicest places to hang around after the novelty wears off - full of fumes, lots of standing around, and waiting 2 hours for one car which turns out to be a dud.

Thursday night report (which I assume is the cheaper car report planned). A more diverse seething mass of humanity you will have to travel widely to beat Thursday night at Colchester. It really is the sharp end of the trade and more "how it used to be". Some of the characters there are 25+ years in the trade in the local area and have never had a trade plate between them. The DVLA don't bother them because, literally, they don't get paid enough to have their houses burnt down. Same goes for trading standards.

Last time I went a fight broke out between one of the drivers and a Polish guy when the Polish chap started shouting at him to open the bonnet. The driver got out and told him he should "**** off back where he came" and pinned him up against the wall.

Half the cars are complete duds, quite a few are lethal but in amongst all the complete rubbish you do get the odd really nice genuine car. The problem is the prices tend to be very high and after buyers fees you are probably better looking on ebay. Doesn't mean you can't get lucky occassionally though.

Yep - 'Auction Reports' are in their eighth month now. Unfortunately, they are a symptom of the recession as it's only because I don't get five full days work each week that I have the time to loiter round these places

I've been buying there for almost 25 years - both for myself and to sell on. Glad it's not my main source of income in these troubled times though. You describe the evening sales as 'how it used to be'. Frankly, they're worse than they ever were!

[confused_buyer]

V8mate said:

I've been buying there for almost 25 years - both for myself and to sell on. Glad it's not my main source of income in these troubled times though. You describe the evening sales as 'how it used to be'. Frankly, they're worse than they ever were!

Yep. By "how it used to be" I don't mean the prices and ease of possible profit which are even higher at the evening type sales for the type of car on sale than during the day but you still have more chance of spotting a decent sheepskin and trilby!

[V8mate]

confused_buyer said:

V8mate said:

I've been buying there for almost 25 years - both for myself and to sell on. Glad it's not my main source of income in these troubled times though. You describe the evening sales as 'how it used to be'. Frankly, they're worse than they ever were!

Yep. By "how it used to be" I don't mean the prices and ease of possible profit which are even higher at the evening type sales for the type of car on sale than during the day but you still have more chance of spotting a decent sheepskin and trilby!

We were thinking along the same lines; but the sheepskin guys were there 15 years ago - it's all Abduls, Sergeis and caravan-dwellers these days

[nsmith1180]

Right so let me get this straight:

Upsides of Auctions:

:: Cheep
:: Cheep
:: Oh Dont forget cheep.

Downsides of Auctions

:: Cold
:: PIKEYS?
:: Crap catering
:: PIKEYS?
:: Waiting
:: PIKEYS?
:: Many many people wanting the same car as you
:: PIKEYS?
:: No warranty unless its ManWarr
:: PIKEYS?
:: Storage charges if you are unfortunate enough to work! and therefore cant drop everything to pick up your new dodgem
:: PIKEYS?


This is a good thing why? Oh and did I mention :: PIKEYS??

[V8mate]

I'd disagree with both your 'upsides' and 'downsides'.

[nsmith1180]

Sorry I forgot to put in the advantages section:

:: Great choice
:: Cars that you wouldnt always see on a forecourt

And the Negatives:

:: Pommies too!

[da_murphster]

For the risk entailed I'm still not sure that the prices are cheap enough.

There are the occasional gems if your not fussy (impressed by a Toureg for under £6k!) but when I have been the prices have always gone above AUtotrader prices (inc a bit of negotiation) and ebay (which again is often above autotrader prices).

If you have the time to travel to see the car you want I still think you cannot beat AT (or PH!)

I've recently bought a mint Clio 172 with 44k for £3600 and a mint Micra with 60k for £600. I reckon aution prices would have been within a couple of hundred pounds of that but with significant additional risk.

[moneymouth77]

I'd never buy at auction. Not for any particularly obvious reason, just don't like the thought.

[V8mate]

moneymouth77 said:

I'd never buy at auction. Not for any particularly obvious reason, just don't like the thought.

It's no different to buying from a dealer - just that the person who is willing to offer the most for a car gets to buy it. If you want a warranty, buy an after-market one.

[Celt]

Iv noticed most of the prices are outwith my budget, about 2000, I take it all auction houses would have a cheap motor night? For me and the gypos?

[da_murphster]

V8mate said:

moneymouth77 said:

I'd never buy at auction. Not for any particularly obvious reason, just don't like the thought.

It's no different to buying from a dealer - just that the person who is willing to offer the most for a car gets to buy it. If you want a warranty, buy an after-market one.

The difference is that you can fully inspect the car, test drive etc. ALso if the car is not as advertised then you have 14 days to get your money back. You have no/little comback from an auction. That said I would also not pay dealer prices - private all the way.

If I was after a repmobile (vectra, mondeo) then I would possibly buy at auction - they practically give these away

[V8mate]

Celt said:

Iv noticed most of the prices are outwith my budget, about 2000, I take it all auction houses would have a cheap motor night? For me and the gypos?

Yep - look out for next week's report which covers a 'cheapy night'.

[nsmith1180]

da_murphster said:

V8mate said:

moneymouth77 said:

I'd never buy at auction. Not for any particularly obvious reason, just don't like the thought.

It's no different to buying from a dealer - just that the person who is willing to offer the most for a car gets to buy it. If you want a warranty, buy an after-market one.

The difference is that you can fully inspect the car, test drive etc. ALso if the car is not as advertised then you have 14 days to get your money back. You have no/little comback from an auction. That said I would also not pay dealer prices - private all the way.

If I was after a repmobile (vectra, mondeo) then I would possibly buy at auction - they practically give these away

Trying to take my salesman hat off and failing!!

Buying from a dealer offers a lot more than just the chance to kick the tyres a bit more! A decent dealer will offer a comprehensive warranty included, they will also offer the FSA regulated insurance products which will benifit the majority of customers.

Main dealers will have a approved used program like NetQ or the like, which guarantee your car is in good mechanical nick. With an auction it is more of a Ask no questions, get told no lies event and for a private buyer, who may not be able to put his hand as deep in his pockets as a trader, the risk of buying a lemon is greater.

Even traders screw up, we bought a Navara from auction which had no more dinks and scratches than half the cars on our pitch now. It had done 32k and was 18 months old. It had a misfire, the tyres were fked and we spent a small fortune putting the car right. The workshop inspection identified many problems that you could not possably see at the Auction house. We went from having a car which owed us a good SIV (Stand In Value) to a vehicle which was over the book retail price before we put our margin on it!

If i was buying for myself at auction that would scare the crap out of me. The chance of buying a lemon, then spending out to put it right, then worrying about further electrical or mechanical breakdown? Id rather spend the extra and get the warranty with it, and an address that I can take the car back to if it blows up in my face.

[V8mate]

nsmith1180 said:

Even traders screw up, we bought a Navara from auction which had no more dinks and scratches than half the cars on our pitch now. It had done 32k and was 18 months old. It had a misfire, the tyres were fked and we spent a small fortune putting the car right.

Those are hardly 'hidden' faults. Your buyer should have picked those issues up and made a call on the spot.

[nsmith1180]

nsmith1180 said:

The workshop inspection identified many problems that you could not possably see at the Auction house.

The tyres, the misfire, yeah you could see those at the AH im sure. Dont know, have never been, but there were other issues with the car also, we expected to pay for 4 tyres, we expected to sort a misfire, we didnt expect a 2k prep bill!

I dont know if we attended this auction tho or bought via online bidding. If we did we are idiots! Just saying that many cars at auction have hidden faults that are very hard to see. More than once have dealers I have worked for ended up paying too much for a car because they could not check it out properly "at the block".

[havoc]

nsmith1180 said:

Main dealers will have a approved used program like NetQ or the like, which guarantee your car is in good mechanical nick.

Ask ASBO about the Porsche one...tends to dent your faith in ANY 'approved used' programme...

nsmith1180 said:

Just saying that many cars at auction have hidden faults that are very hard to see.

That I would agree with...an auction is a good way to offload a lemon, so unless you're paying well under book or are VERY confident in your diagnostic AND spannering skills, it's a gamble...

[nsmith1180]

Just because some second rate german outfit get it wrong doesnt mean fine marques like Vauxhalls NetQ and Kia's Kudos scheme are crap!

Just kidding, any manufacturer cant check every used car that goes through their approved used scheme. But most dealers will dump a turd through the block rather than have it tarnish their good reputation.