New Motor Trader - Advice on Auctions Needed!!
Discussion
Hi,
I am looking for advice/recommendations on the best auction for a new motor trader to buy from?
For example, which would be the best auction to buy good, low to average mileage, 1 to 2 owner German prestige cars from say £0-£10k and the best auction to buy cars from £10k to £20k (both normal, everyday cars and sports/performance cars).
Any advice or recommendations alongside what type of things to consider/lookout for would greatly be appreciated.
I am new and will appreciate any help you can give me.
Many Thanks & Seasons Greetings to you all!
I am looking for advice/recommendations on the best auction for a new motor trader to buy from?
For example, which would be the best auction to buy good, low to average mileage, 1 to 2 owner German prestige cars from say £0-£10k and the best auction to buy cars from £10k to £20k (both normal, everyday cars and sports/performance cars).
Any advice or recommendations alongside what type of things to consider/lookout for would greatly be appreciated.
I am new and will appreciate any help you can give me.
Many Thanks & Seasons Greetings to you all!
I’m not a trader but have a look at collectingcars.com lots of well cared for stuff goes through at good prices.
I recently sold my S3 through them.... it went for a price I was happy with as it was hassle free but whoever bought it could definitely sell it for more if they were willing to wait for right buyer and in case of trader offer warranty or service with it etc etc
I recently sold my S3 through them.... it went for a price I was happy with as it was hassle free but whoever bought it could definitely sell it for more if they were willing to wait for right buyer and in case of trader offer warranty or service with it etc etc
whp1983 said:
I’m not a trader but have a look at collectingcars.com lots of well cared for stuff goes through at good prices.
I recently sold my S3 through them.... it went for a price I was happy with as it was hassle free but whoever bought it could definitely sell it for more if they were willing to wait for right buyer and in case of trader offer warranty or service with it etc etc
CC seems to be a decent platform for a seller but a potential minefield for a buyer. It very much depends on the transparency of the seller in how accurate their description is and how honest they want to be.I recently sold my S3 through them.... it went for a price I was happy with as it was hassle free but whoever bought it could definitely sell it for more if they were willing to wait for right buyer and in case of trader offer warranty or service with it etc etc
itcaptainslow said:
CC seems to be a decent platform for a seller but a potential minefield for a buyer. It very much depends on the transparency of the seller in how accurate their description is and how honest they want to be.
The same as any auction I guess.... CC checked my service history with immense detail along with a pro photographer to pick out blemishes etc... I’d buy from them too.whp1983 said:
itcaptainslow said:
CC seems to be a decent platform for a seller but a potential minefield for a buyer. It very much depends on the transparency of the seller in how accurate their description is and how honest they want to be.
The same as any auction I guess.... CC checked my service history with immense detail along with a pro photographer to pick out blemishes etc... I’d buy from them too.
You will only be able to buy from the big two auctions by opening a trade account for which you will have to provide proof of trade insurance which in the case of BCA will have to have minimum 90 days remaining.
Indemnity fees are your biggest initial problem as these are steep for the first years purchases (e.g. c £600 on a £9k car until you buy in excess of c12 cars per year and qualify for some indemnity discount and other benefits.
Physical auctions are unlikely to return even Covid free so you are buying online blind and whilst cars are graded there are huge differences in quality which is less significant for the big volume buyers compared to small volume buyers.
This has made grade 3 and above cars very expensive and grade 4 and below too risky many of which require major work often not reflected in the high prices achieved. Depending on the vendors many cars have hidden problems and bargains are increasingly rare.
Good luck you will need it especially in the current environment.
Indemnity fees are your biggest initial problem as these are steep for the first years purchases (e.g. c £600 on a £9k car until you buy in excess of c12 cars per year and qualify for some indemnity discount and other benefits.
Physical auctions are unlikely to return even Covid free so you are buying online blind and whilst cars are graded there are huge differences in quality which is less significant for the big volume buyers compared to small volume buyers.
This has made grade 3 and above cars very expensive and grade 4 and below too risky many of which require major work often not reflected in the high prices achieved. Depending on the vendors many cars have hidden problems and bargains are increasingly rare.
Good luck you will need it especially in the current environment.
The edges of the trade that you may well want to work in at present seem to operate on who you know. Connections made over many years - 20+ (and those I know in the trade are still young). The auctions seem to be real minefield, making it extremely difficult to even break even unless you know exactly what you’re buying.
Traders that I know are buying stuff which does not attract a premium market at all - second hand and German often means warranty hassle.
Traders that I know are buying stuff which does not attract a premium market at all - second hand and German often means warranty hassle.
Easternlight said:
Yep, 3rd thread in a month from OP around the same subject.:1st thread - https://www.pistonheads.com/gassing/topic.asp?h=0&...
2nd thread - https://www.pistonheads.com/gassing/topic.asp?h=0&...
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