Why are there no auctions for private sellers?
Discussion
There seems to be a bit of a gap in the market and I wonder if the solution is an auction specifically for private sellers to sell their cars via auction.
Let say for example you have a car and Webuyanycar initially offers you £2000 but on inspection they find some minor faults and knock it down to £1500. They will then auction the car for £3000 plus and charge the buyers fees on top of that. Seems like a huge profit relative to the value of the car.
If you sell the car on eBay etc you should really disclose all minor faults with the vehicle which will then bring the price right down. Seems a bit unfair when traders are paying £3k plus for same car sight unseen at auction which could have a knackered engine or gearbox when you're getting hundreds knocked off for mentioning the cd player doesn't work or the alloys could do with a refurb and there's a few scratches etc.
Likewise selling the car privately through classified ads could be more hassle than it's worth. Especially when buyers try to claim retrospectively for any minor faults they've found after they purchase the vehicle if they have not noticed them on expectation.
Why has the auction model not taken off? Surely in the above scenario the best outcome for the buyer would be to enter the car into an auction which then charges a commission to both the buyer and the seller. The reserves could be set relatively low to guarantee a sale but would still be above what you would get from the car buying websites.
Let say for example you have a car and Webuyanycar initially offers you £2000 but on inspection they find some minor faults and knock it down to £1500. They will then auction the car for £3000 plus and charge the buyers fees on top of that. Seems like a huge profit relative to the value of the car.
If you sell the car on eBay etc you should really disclose all minor faults with the vehicle which will then bring the price right down. Seems a bit unfair when traders are paying £3k plus for same car sight unseen at auction which could have a knackered engine or gearbox when you're getting hundreds knocked off for mentioning the cd player doesn't work or the alloys could do with a refurb and there's a few scratches etc.
Likewise selling the car privately through classified ads could be more hassle than it's worth. Especially when buyers try to claim retrospectively for any minor faults they've found after they purchase the vehicle if they have not noticed them on expectation.
Why has the auction model not taken off? Surely in the above scenario the best outcome for the buyer would be to enter the car into an auction which then charges a commission to both the buyer and the seller. The reserves could be set relatively low to guarantee a sale but would still be above what you would get from the car buying websites.
DickyC said:
WBAC will sell your car through BCA. There's nothing stopping you from selling it through BCA. Or Bonhams. Or most other car auctions.
Or am I on the wrong page?
Ok looks like you may be correct. I thought BCA etc was trade only. I've heard of people selling their classic cars at auction but never know anyone to sell their standard mainstream models via this route. I know many people who have sold their cars via Webuyanycar. I wonder why they don't go directly to BCA for a better price. Or am I on the wrong page?
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