Stupid auction question...
Discussion
I'm looking at a large German saloon. Big petrol engine, over 4 litre, v configuration, top of the line. I've seen one coming up for auction within the next couple of weeks. 56 plate, 88,000 miles.
Disregarding the buyer's premium, would you expect the final hammer figure to be higher or lower when compared to what WBAC offer?
Obviously, if it were a private seller, and they thought they would get the same or less than WBAC at auction, they'd go to WBAC. However, if it were a big volume car retailer and they can't be bothered with selling their trade ins indivudually or prep them for retail, the easier (and possibly less profitable) option would be to shift the car through auction?
So, am I way out here with my reasonings and should stick to the Autotrader and the privateers with their over optimistic asking prices and the independent dealers with their tyre slick and worthless warranties...
Disregarding the buyer's premium, would you expect the final hammer figure to be higher or lower when compared to what WBAC offer?
Obviously, if it were a private seller, and they thought they would get the same or less than WBAC at auction, they'd go to WBAC. However, if it were a big volume car retailer and they can't be bothered with selling their trade ins indivudually or prep them for retail, the easier (and possibly less profitable) option would be to shift the car through auction?
So, am I way out here with my reasonings and should stick to the Autotrader and the privateers with their over optimistic asking prices and the independent dealers with their tyre slick and worthless warranties...
Edited by KungFuPanda on Thursday 13th November 04:37
Sorry for the obvious-sounding response, but it depends entirely on who's bidding on the day and how much WBAC value the car at.
WBAC values have very little to do with any sort of expected retail price unless it's for mass market stuff they can shift quickly, I imagine they'd lowball a big v8 exec saloon massively.
WBAC values have very little to do with any sort of expected retail price unless it's for mass market stuff they can shift quickly, I imagine they'd lowball a big v8 exec saloon massively.
Hi,
Got to agree with the above. I would be very surprised if it went for anything like the WBAC price. As already said they usually low ball anything slightly unpopular and then they dispose themselves through auction or the trade and their not in it to lose money. I have a Manheim acct so if you let me know what make/model your talking about I can give you an idea of what prices any similar cars have made in the last 30 days with their search facilities.
Got to agree with the above. I would be very surprised if it went for anything like the WBAC price. As already said they usually low ball anything slightly unpopular and then they dispose themselves through auction or the trade and their not in it to lose money. I have a Manheim acct so if you let me know what make/model your talking about I can give you an idea of what prices any similar cars have made in the last 30 days with their search facilities.
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