Bailiffs selling rare MG X Power SV

[theposhboy]

which manheim is it at?

[habanero]

It was at Northampton.

But it shouldn't have had a reserve.

Was it a straight £21,000?.....

[bickyboy]

21K PLUS MANHEIMS CHARGES IT WAS A PROVISIONAL SALE THO SO AUCTIONEER COULD OF BOUNCED IT UP THE WALL ALTHOUGH IF IT WAS A GENUINE BID MAY NOT BE ACCEPTED BY THE HIGH COURT WOULD IMAGINE THEY WOULD THO ???

[bickyboy]

it was no reserve but as with most repos its a case of submit any bids to the vendor in this case the high court? the auctions have a rough idea of value and wont give it away

[550M]

Watched online. Seemed to be several other internet bidders plus auctioneer said he had a proxy bid. Car needed a complete retrim, the leather has completely come away from the dash and rear shelf and looks a real mess. Interior just looked tired. Body is good though. Sold for way over my estimation, but then there are examples around for sale in the thirties, so good value for someone.

[habanero]

It was sold under a High Court writ.

Apparently the debtor was contemplating buying it back himself.

[habanero]

There is no reserve, the bid will be accepted.

[bickyboy]

just because there is not a reserve does not mean it will sell its down to the vendors discretion no reserve usually means submit all bids then its upto them they accept the highest bid but I reckon they will in this case as its more than fair

[Rubin215]

bickyboy said:

21K PLUS MANHEIMS CHARGES IT WAS A PROVISIONAL SALE THO SO AUCTIONEER COULD OF BOUNCED IT UP THE WALL ALTHOUGH IF IT WAS A GENUINE BID MAY NOT BE ACCEPTED BY THE HIGH COURT WOULD IMAGINE THEY WOULD THO ???

HI AND WELCOME TO PISTONHEADS.

PLEASE STOP SHOUTING!

Thank you.

[bickyboy]

lol it made 21k if that was my car I would have something to shout about lol cant see how it never sold at prior specialist auctions when entered by the registered keeper???

[habanero]

bickyboy said:

just because there is not a reserve does not mean it will sell its down to the vendors discretion no reserve usually means submit all bids then its upto them they accept the highest bid but I reckon they will in this case as its more than fair

I can assure you it will be accepted.

Fetched more than I thought given the condition report. Still a relative bargain for somebody.

[Jawaman]

Always intrigued by these.

Am I the only one who thinks the wheels don't suit the car? They look too small and the style is very cheapo aftermarket in my eyes

[habanero]

bickyboy said:

lol it made 21k if that was my car I would have something to shout about lol cant see how it never sold at prior specialist auctions when entered by the registered keeper???

Chances are it didn't reach the reserve (clearly set too high).

[theposhboy]

bickyboy said:

just because there is not a reserve does not mean it will sell its down to the vendors discretion no reserve usually means submit all bids then its upto them they accept the highest bid but I reckon they will in this case as its more than fair

Where did you get that from? No reserve means that once the car is offered in the auction hall it WILL sell £1 or £1mil it will sell. For the owner to be asked he/she must set a reserve or ask the auction house to submit highest bid.

[habanero]

I agree.

All seized goods sold under the auspice of a High Court writ must be sold without reserve to the highest bidder (unless a separate court order allows a sale by private treaty). But... the High Court Enforcement Officer has a duty to ensure the goods are advertised properly or he could be liable to a claim from the debtor.

[bickyboy]

at manheim auctions and all others I have been to no reserve does not mean it will sell whether it be £1 or £1 million it just means they have set no reserve on higher value items they will usually sell provisional then they will consider the offer unless it makes over the expected/guide value ? that is why at 21k it sold PROVISIONALLY as manheims guide said circa 23k.. physically viewed the mg today as it was still at manheim looked fairly tidy wanted bit of tlc but nothing major that I could see

Edited by bickyboy on Thursday 21st November 17:18

[100 IAN]

My guess is that there were no bids on it. Auctioneer was taking ficticious bids in the hope that someone would place a real bid, when he failed to get a real bid he ended it as 'provisionally' sold.

If it was a real bid i'm sure it would be accepted, if it wasn't a real bid i'd expect it to appear at another auction soon.

Lets wait and see .........

[habanero]

100 IAN said:

My guess is that there were no bids on it. Auctioneer was taking ficticious bids in the hope that someone would place a real bid, when he failed to get a real bid he ended it as 'provisionally' sold.

If it was a real bid i'm sure it would be accepted, if it wasn't a real bid i'd expect it to appear at another auction soon.

Lets wait and see .........

Not so. The bid was genuine and payment is being made.

Edited by habanero on Tuesday 3rd December 16:11