Auction Report: Manheim Colchester Prestige Sale 11 Nov 08

[jedi_mind_trix]

Great thread

[whitechief]

Jasandjules said:

Some of the prices don't look too bad, but some don't look great either??!?!?

What is the sales tax/VAT added on to the prices?

You pay an indemnity on the purchase price which is on a scale linked to the value of the car, it is considerably less if you have an account.

[V8mate]

Jasandjules said:

Some of the prices don't look too bad, but some don't look great either??!?!?

What is the sales tax/VAT added on to the prices?

No tax or VAT. They have a table of charges for the Buyer's Premium/Financial Indemnity - not a very scientific scale, but if you add 6% (as a private buyer) you probably won't be far off. Trade account holders pay less than half of that.

[evenflow]

R8s seem to be losing quite quickly. They didn't command a premium for long!

[whitechief]

V8mate said:

Jasandjules said:

Some of the prices don't look too bad, but some don't look great either??!?!?

What is the sales tax/VAT added on to the prices?

No tax or VAT. They have a table of charges for the Buyer's Premium/Financial Indemnity - not a very scientific scale, but if you add 6% (as a private buyer) you probably won't be far off. Trade account holders pay less than half of that.

It's not 6%, more like 3% + VAT without an account.

[Jasandjules]

Holy c**p, 6% extra if that little makes some of them suddenly look quite appealing !! ( I was thinking it would be 10% + VAT or something ).

[V8mate]

whitechief said:

V8mate said:

Jasandjules said:

Some of the prices don't look too bad, but some don't look great either??!?!?

What is the sales tax/VAT added on to the prices?

No tax or VAT. They have a table of charges for the Buyer's Premium/Financial Indemnity - not a very scientific scale, but if you add 6% (as a private buyer) you probably won't be far off. Trade account holders pay less than half of that.

It's not 6%, more like 3% + VAT without an account.

I beg to differ. Have been buying cars there for the last 23 years. Admittedly I don't tend to buy cars at these price points, but on cars between five and fifteen thousand I'd say that 6% (gross) as a 'figure in your head' for an occasional buyer is not far wrong.

Just checked: Have bought three cars this year and have paid 5.1%, 5.3% and 4.6% on them.

I also 'assume' that it'll cost an extra £250 to 'put something right' post-auction. Sometimes I'm lucky and I get away with having to spend nothing. Have also hit figures to get a car roadworthy though!

[CRA1G]

evenflow said:

R8s seem to be losing quite quickly. They didn't command a premium for long!

Dead Right..!!! I Got £10K Over List for one in July 07..!!!

Edited by CRA1G on Tuesday 11th November 20:47

[whitechief]

V8mate said:

whitechief said:

V8mate said:

Jasandjules said:

Some of the prices don't look too bad, but some don't look great either??!?!?

What is the sales tax/VAT added on to the prices?

No tax or VAT. They have a table of charges for the Buyer's Premium/Financial Indemnity - not a very scientific scale, but if you add 6% (as a private buyer) you probably won't be far off. Trade account holders pay less than half of that.

It's not 6%, more like 3% + VAT without an account.

I beg to differ. Have been buying cars there for the last 23 years. Admittedly I don't tend to buy cars at these price points, but on cars between five and fifteen thousand I'd say that 6% (gross) as a 'figure in your head' for an occasional buyer is not far wrong.

Just checked: Have bought three cars this year and have paid 5.1%, 5.3% and 4.6% on them.

I also 'assume' that it'll cost an extra £250 to 'put something right' post-auction. Sometimes I'm lucky and I get away with having to spend nothing. Have also hit figures to get a car roadworthy though!

You are paying too much, I have an account

[V8mate]

whitechief said:

V8mate said:

whitechief said:

V8mate said:

Jasandjules said:

Some of the prices don't look too bad, but some don't look great either??!?!?

What is the sales tax/VAT added on to the prices?

No tax or VAT. They have a table of charges for the Buyer's Premium/Financial Indemnity - not a very scientific scale, but if you add 6% (as a private buyer) you probably won't be far off. Trade account holders pay less than half of that.

It's not 6%, more like 3% + VAT without an account.

I beg to differ. Have been buying cars there for the last 23 years. Admittedly I don't tend to buy cars at these price points, but on cars between five and fifteen thousand I'd say that 6% (gross) as a 'figure in your head' for an occasional buyer is not far wrong.

Just checked: Have bought three cars this year and have paid 5.1%, 5.3% and 4.6% on them.

I also 'assume' that it'll cost an extra £250 to 'put something right' post-auction. Sometimes I'm lucky and I get away with having to spend nothing. Have also hit figures to get a car roadworthy though!

You are paying too much, I have an account

The form is sitting just to my left. Every now and then I think I'll apply, but it's never 'the right time'. Some years I'll buy nothing, others I'll be into double figures. Should be fun down there come January/February; I'm anticipating some serious post-Christmas blues across the trade.

[whitechief]

V8mate said:

whitechief said:

V8mate said:

whitechief said:

V8mate said:

Jasandjules said:

Some of the prices don't look too bad, but some don't look great either??!?!?

What is the sales tax/VAT added on to the prices?

No tax or VAT. They have a table of charges for the Buyer's Premium/Financial Indemnity - not a very scientific scale, but if you add 6% (as a private buyer) you probably won't be far off. Trade account holders pay less than half of that.

It's not 6%, more like 3% + VAT without an account.

I beg to differ. Have been buying cars there for the last 23 years. Admittedly I don't tend to buy cars at these price points, but on cars between five and fifteen thousand I'd say that 6% (gross) as a 'figure in your head' for an occasional buyer is not far wrong.

Just checked: Have bought three cars this year and have paid 5.1%, 5.3% and 4.6% on them.

I also 'assume' that it'll cost an extra £250 to 'put something right' post-auction. Sometimes I'm lucky and I get away with having to spend nothing. Have also hit figures to get a car roadworthy though!

You are paying too much, I have an account

The form is sitting just to my left. Every now and then I think I'll apply, but it's never 'the right time'. Some years I'll buy nothing, others I'll be into double figures. Should be fun down there come January/February; I'm anticipating some serious post-Christmas blues across the trade.

Buy over 12 cars a year it's free, less than that £55 a year admin charge, get the application in.

[BOR]

V8mate said:

1999 Ferrari 550 Maranello 485bhp coupe £30,500 provisional

How bad could it possibly be ? I'm seeing The BOR in that car right now.

[V8mate]

BOR said:

V8mate said:

1999 Ferrari 550 Maranello 485bhp coupe £30,500 provisional

How bad could it possibly be ? I'm seeing The BOR in that car right now.

You're right. It was screaming "weekend car" at me!

[G'kar]

V8mate said:

BOR said:

V8mate said:

1999 Ferrari 550 Maranello 485bhp coupe £30,500 provisional

How bad could it possibly be ? I'm seeing The BOR in that car right now.

You're right. It was screaming "weekend car" at me!

With premium, service and a couple of little jobs I'd expect to have to drop another 5k on it.

Still value in it.

[soxboy]

Fantastic, Cayman in February for me at this rate. To think, I was going to spend £20k on a 10 year old 996.

[V8mate]

G'kar said:

V8mate said:

BOR said:

V8mate said:

1999 Ferrari 550 Maranello 485bhp coupe £30,500 provisional

How bad could it possibly be ? I'm seeing The BOR in that car right now.

You're right. It was screaming "weekend car" at me!

With premium, service and a couple of little jobs I'd expect to have to drop another 5k on it.

Still value in it.

Or you can save on the 'surprises' old cars at auction often bring and just buy this

http://cgi.ebay.co.uk/ws/eBayISAPI.dll?ViewItem&am...

[internet-carlot]

V8mate said:

whitechief said:

V8mate said:

whitechief said:

V8mate said:

Jasandjules said:

Some of the prices don't look too bad, but some don't look great either??!?!?

What is the sales tax/VAT added on to the prices?

No tax or VAT. They have a table of charges for the Buyer's Premium/Financial Indemnity - not a very scientific scale, but if you add 6% (as a private buyer) you probably won't be far off. Trade account holders pay less than half of that.

It's not 6%, more like 3% + VAT without an account.

I beg to differ. Have been buying cars there for the last 23 years. Admittedly I don't tend to buy cars at these price points, but on cars between five and fifteen thousand I'd say that 6% (gross) as a 'figure in your head' for an occasional buyer is not far wrong.

Just checked: Have bought three cars this year and have paid 5.1%, 5.3% and 4.6% on them.

I also 'assume' that it'll cost an extra £250 to 'put something right' post-auction. Sometimes I'm lucky and I get away with having to spend nothing. Have also hit figures to get a car roadworthy though!

You are paying too much, I have an account

The form is sitting just to my left. Every now and then I think I'll apply, but it's never 'the right time'. Some years I'll buy nothing, others I'll be into double figures. Should be fun down there come January/February; I'm anticipating some serious post-Christmas blues across the trade.

I keep saying, January/February are always (maybe less so than normal but still relatively better than now) stronger times for the motor trade.

August/November, two best used car buying months!
29th March/September two best new car buying days!

[Nolar Dog]

Thanks for sharing V8.

[cardoctormatt]

Great report i was in colchester last week and bought a few cars from east coust salvage at marks tey. Just a bit down market from those cars lol.

[V8mate]

cardoctormatt said:

Great report i was in colchester last week and bought a few cars from east coust salvage at marks tey. Just a bit down market from those cars lol.

I've never understood how they sell anything at ECS. Their cars are always dogs and the prices are more than main dealers. Given the way they advertise I'd expect them to charge little more than auction prices.

I daresay you got a nice discount for multiple purchases!