RM Auction in Battersea, some nice cars available

[Rollcage]

He closed that sale down pretty quickly, think he wanted to go home!

[Streetrod]

Who the hell spent £32k for that abortion???????

[RoyaleDetailing]

£32k too much in my opinion!

[long time lurker]

It's actually £32k + commission!!

[Streetrod]

Expect to see it cruising around Harrods next summer

[Rollcage]

Streetrod said:

Expect to see it cruising around Harrods next summer

That was exactly my thought! Telephone bidder.....

[paul0843]

cc8s said:

£2.4m already. No sale! :O

I am pretty sure that auctioneers will bid up cars to reserve even though
no one is really bidding waiting for someone to jump in.
Apparently quite legal

[Not Ideal]

^^ didn't know that.

[Rollcage]

paul0843 said:

cc8s said:

£2.4m already. No sale! :O

I am pretty sure that auctioneers will bid up cars to reserve even though
no one is really bidding waiting for someone to jump in.
Apparently quite legal

It is, but i'd be very surprised if it happened at a high profile sale such as that one. Happens in BCAs and auction rooms elsewhere every day mind!

[Elderly]

Rollcage said:

paul0843 said:

cc8s said:

£2.4m already. No sale! :O

I am pretty sure that auctioneers will bid up cars to reserve even though
no one is really bidding waiting for someone to jump in.
Apparently quite legal

It is, but i'd be very surprised if it happened at a high profile sale such as that one. Happens in BCAs and auction rooms elsewhere every day mind!

Auctioneers can do it and so can the seller and it happens openly at many major auctions,
the practice is sometimes even announced from the rostrum before a sale.

For example see the following extract:

[Rollcage]

Ok, fair enough. :thumbsup:

[k-ink]

I wish I could have bought that 959. Seems like a bargain compared to the other prices rivals go for.

[f1ten]

there is a buyer for everything. perhaps the guys sees it as a cheap paiting. I hope its going to get tinted windows as its as inconspicious as walking around naked in the high st

[Streetrod]

Now here is a conundrum for you. The 2008 Koenigsegg CCX with only 1700 miles on the clock sold for just over £251K including fees(Major bargain I think). How now can the dealer Supervettura ever expect to now sell their 2006 CCX with 2850miles for the advertised £582K or their 2004 CCR for £469K?

I know the Supervettura guys post on here sometimes; they must be feeling sick this morning. I am not gloating, I actually feel sorry for their situation, but it appears the market has spoken on Koenigsegg values today

[camshafted]

Not just on the Koenigsegg, but also the Veyron. £579,000 appears to be an extraordinary figure for a car with 700km on the clock.

Also, will this Veyron figure affect the residuals of a Veyron Super Sport?

[BelfastBoy]

Streetrod said:

Now here is a conundrum for you. The 2008 Koenigsegg CCX with only 1700 miles on the clock sold for just over £251K including fees(Major bargain I think). How now can the dealer Supervettura ever expect to now sell their 2006 CCX with 2850miles for the advertised £582K or their 2004 CCR for £469K?

I know the Supervettura guys post on here sometimes; they must be feeling sick this morning. I am not gloating, I actually feel sorry for their situation, but it appears the market has spoken on Koenigsegg values today

Scary thing is, look how much prices have risen for a new Koenigsegg. Dunno list price for an Agera but if you indulge in some personalisation then I'm sure you're talking well over seven figures. But if you decide to move it on, expect to lose at least £500k, maybe more? Moral of the story could be - if you want a Koenigsegg, buy second-hand and save yourself a fortune?

[RoyaleDetailing]

BelfastBoy said:

Moral of the story could be - if you want a Koenigsegg, buy second-hand and save yourself a fortune?

Thats a bit silly really as that counts for all cars. Everyone expects a supercar to rocket up in price or hold its value. Reality is that these car do depreciate so of course a 2nd hand one is going to be cheaper than a new one, and buying from an auction will always be cheaper than buying from a dealer. You dont get a warranty and risk having a large bill waiting. What you are comparing is the auction price (which tends to be the lowest) to the showroom price (which tends to be the highest). Apples and pears.

The more expensive the car, the bigger the variance.

[will_]

Streetrod said:

Now here is a conundrum for you. The 2008 Koenigsegg CCX with only 1700 miles on the clock sold for just over £251K including fees(Major bargain I think). How now can the dealer Supervettura ever expect to now sell their 2006 CCX with 2850miles for the advertised £582K or their 2004 CCR for £469K?

I know the Supervettura guys post on here sometimes; they must be feeling sick this morning. I am not gloating, I actually feel sorry for their situation, but it appears the market has spoken on Koenigsegg values today

I doubt they have bought the cars - they will either need to manage their clients' expectations or be prepared for a long wait - afterall, how many CCXs are there available, and when will the next one come to auction? Only 8 RHD, only one for sale, so if they get someone who really wants one today, who knows?

[AyBee]

camshafted said:

Not just on the Koenigsegg, but also the Veyron. £579,000 appears to be an extraordinary figure for a car with 700km on the clock.

Also, will this Veyron figure affect the residuals of a Veyron Super Sport?

c.£700/km. That's eye watering! If that had been mine, it would have cost £0.5million to go and visit the parents once, puts train fares into perspective

[jonby]

To address the point of the auctioneer bidding (I own an Auction House so feel qualified to comment) I'd like to clarify a couple of things

It is acceptable to bid on behalf of the vendor up to the point of the reserve. However you cannot make two consecutive such bids. So if there is just one genuine person bidding and you haven't hit reserve, the auctioneer can keep bidding against said bidder, in the hope it will push the bidder up to the reserve

However it is not OK to keep doing this once the reserve is passed and it is also not OK to make consecutive bids on behalf of the vendor, say for instance up to one bid below reserve, in the hope that someone might jump in at the last minute

I have to assume with the lots that failed to sell, that the final 'bidder' in each instance was 'the house', which will have been bidding against a genuine bidder, with genuine bidder no longer bidding and reserve not yet met. It would not make sense if the final bidder on those lots that failed to meet reserve was a 'real bidder' in the room as if so, why would RM not then bid on behalf of the vendor against said bidder, in the hope they could continue until reserve was met

I have no knowledge of how RM operate (though I was watching the sale online last night) but that is standard auction practice for a live sale, whether for vehicles, fine art or industrial