Auction Report: Manheim Colchester 13 Nov 08

[V8mate]

After the big sale on Tuesday, a smaller morning sale with around 450 cars today. Mercedes Benz UK clear through Manheim Colchester, putting 150-250 cars into each sale every other Thursday.

Not as long a report as for the last one - the cars were mainly mainly fleet stuff - so just a few highlights.

In the last thread, several people asked about how much the buyer's premium/financial indemnity is. They used to publish the table on their website, but no longer; so I grabbed a few indicative fees (plus VAT!):

Sale Price	Private Buyer	Account Holder

£5,000-5,499	£265.53	£103.00
£10,000-10,499	£318.30	£133.00
£15,000-15,499	£318.30	£163.00
£20,000-20,499	£429.79	£195.00

One other recently added fee, which drives a stake through the heart of anyone who just fancies 'dabbling' with buying and selling cars, is that anyone who does not hold an account cannot take the V5 away with them. They have to complete it with their own name and address, hand it back, and Manheim forward it to DVLA. So you will automatically add another owner - you. The shocking part is that you have to fill it in yourself and then Manheim charge you £21.28 (plus VAT) just to pop it in the post for you!


First of all, a lot of the prestige vehicles from Tuesday were still on-site, so I grabbed some snaps of a couple of the cars I missed.


This is the monster Dodge Pickup SRT-10. 206 car; SOLD at £16,600.







The £80k Gallardo Spyder





Today's sale:

Nice shiny pimpmobile with the later engine. About eight grand cheaper than a RR of the same age.
2005 55 BMW X5 4.8iS Auto - £14,800 provisional.





Winter ragtop. 2007 07 Honda S2000 - £13,800 provisional





Luxury Exec/people carrier. 2006 56 Mercedes Benz R320L CDi Sport (if you can get over the looks, this is the ONLY model in the R-Class range worth buying). Bargain metal at £14,800 provisional.





Pretty hardtop convertible. 2004 04 Mercedes Benz S500 - £17,600 provisional.





Another bit of heavy metal VFM (not actual car in ths photo, but identical colour and year newer). 2005 55 Mercedes Benz CL500 26k - £15,200 SOLD





Best value bit of Pistonheadry today:
2004 54 Merceds Benz E55 AMG Saloon with panorama roof - £14,300 SOLD - WOW!






Worst value car today
Great colour, two-tone leather, FBMWSH, only 72k miles, but about a grand a half over book IMO (and still only a provisional sale!):

2000 V BMW M5 5.0 V8 - £6,800 provisional

[V8mate]

Plotloss said:

Do you know what the mileage was on that E55?

It was 90k - but one owner from new and FMBSH.

[V8mate]

Skyedriver said:

Remember that on top of the auction price there is a hefty add on from the auctioneers

I have detailed the fees in the first post.

[V8mate]

haggy said:

internet-carlot said:

Some of you guys need to calm down a bit!!

That E55 books back mileage adjusted to £14325. If I went for a cheque in the trade it would be £12k and those cars are out there at the moment.

I think it is a great idea to show people what cars can be had at an auction and I don't buy cars like that so it is useful for me to see what they are making.

As for the M5, if you ever buy a car like that in an A line at an auction, good luck and get ready with the cheque book.

Exactly, some cars are there for a reason!

The M5 was a part-ex entered by Gates Ford.

[V8mate]

Not Ideal said:

The E55 looks immaculate.!!

Always thought you look like you're doing an airport run in one though.

To race the jets down the runway, right?

[V8mate]

internet-carlot said:

V8mate said:

The M5 was a part-ex entered by Gates Ford.

I am sure that is as it supposed to be but it would not be beyond the realms of possibility that is belonged to a staff member or an independent dealer asked them to chuck it in there knowing that it would help its value.

I guess I am saying that any high powered car over three or four years old comes with a lot of risk attached and despite the fact that I am in the trade and know all the tricks I would not buy one without driving it, even if it ment paying more money.

I meant to say thanks earlier aswell, not only a good thing but lively debate other than 'what car can I buy for £3k which will do 80mmg, 160mph and not lose any money'!!

Thanks. I decided to feed back some real market prices for exactly the reason that so many people spent so much time on here speculating.

I also agree absolutely with your comments about old 'supercars' (for want of a better word, before the pedants start telling me that 'supercar' is strictly defined). I would have gladly bid £5k for the car - making it £5,300 with the 'bits and bobs'. Couldn't believe when the biddng started at £6100 and then it didn't sell outright at £6800. Makes me wonder if it was a p/ex which Gates paid all the money for to clinch a sale?

[V8mate]

internet-carlot said:

V8mate said:

internet-carlot said:

V8mate said:

The M5 was a part-ex entered by Gates Ford.

I am sure that is as it supposed to be but it would not be beyond the realms of possibility that is belonged to a staff member or an independent dealer asked them to chuck it in there knowing that it would help its value.

I guess I am saying that any high powered car over three or four years old comes with a lot of risk attached and despite the fact that I am in the trade and know all the tricks I would not buy one without driving it, even if it ment paying more money.

I meant to say thanks earlier aswell, not only a good thing but lively debate other than 'what car can I buy for £3k which will do 80mmg, 160mph and not lose any money'!!

Thanks. I decided to feed back some real market prices for exactly the reason that so many people spent so much time on here speculating.

I also agree absolutely with your comments about old 'supercars' (for want of a better word, before the pedants start telling me that 'supercar' is strictly defined). I would have gladly bid £5k for the car - making it £5,300 with the 'bits and bobs'. Couldn't believe when the biddng started at £6100 and then it didn't sell outright at £6800. Makes me wonder if it was a p/ex which Gates paid all the money for to clinch a sale?

Are you thinking about 'dabbling' yourself?!

It has been a hobby for well over 20 years. But if anyone is thinking of starting trading from home they'll end up much better off if they simply buy me beer for an evening and let me recount to them all the stters I've bought over the years and the money I've lost. I have only had to resort to it as a form of income a couple of times, but it is still a struggle unless you are either a reasonably skilled mechanic yourself or have various motor trade friends who can help you out getting things sorted on cars.

As it has always been a hobby, losing a few quid has never really worried me - all hobbies cost money. I enjoy the processes of buying, 'improving' and then selling things, so from that perspective it remains fun.

I've always made my best money pinching cars from private sellers; on a couple of occasions, pinched so well that I drove them straight to Frating rather than even bother advertising them. But they are the (few) good news stories I'll save for my grandchildren!

Buyers are less and less keen to buy from home traders these days. Unless you deal in sub-£2k cars, which often have faults worth more than the car, they want warranties and finance and p/ex etc.

Having said that, the car trade can still be lucrative. I work as a consultant to businesses seeking to improve performance and my combined knowledge of the motor trade is such that I have a juicy, pretty unexploited, business concept just waiting for the right time and investment to come along together.

If someone asked for one line of advice about entering the (retail) car trade, it would be not to do it when the chips are down for you personally; start it as a hobby, see if you're any good at it/lucky, and then let the business grow organically. If you've never done it before, it won't pay your mortgage from month 1.

[V8mate]

Accelerated said:

Not Ideal said:

The E55 looks immaculate.!!

Always thought you look like you're doing an airport run in one though.

If you live any where near an airport or central london you will understand what he is on about, all the exec cabs are E class or S-class mercs, and yes there are a few AMG's

14 mpg bites a bit for a taxi!

[V8mate]

Accelerated said:

emicen said:

Or ticked the following options:
- E220CDi badge delete
- 18in AMG Alloy wheels
- AMG aero bodykit

I know the difference between a real AMG and a tarted up diesel!

3 exhaust pipes?

[V8mate]

emicen said:

Mr E said:

Are M5s really that cheap?

It appears so. I wouldnt have believed it myself, last time I was looking you were in to 140k mile examples to get the price under £10k!

Its almost tempting to find out if an M5 really would work on LPG...

If it helps at all - it sounded awesome

Was a pre-facelift model though.