Dealers are having a laugh
Discussion
http://www.pistonheads.com/classifieds/used-cars/p...
I'm not one for complaining about dealers making a margin, we all have to eat and pay the bills.
With the "perceived" market how it is though, you have to admit its them who are responsible for hyping up the prices.
The car attached has been for sale for an age (well over a year) @ 50k, I know as it was local to me and I have viewed it.
A 30k uplift within a week is not a refection of the market place, its a refection of the greedy dealers killing the market place for genuine enthusiasts.
I'm not one for complaining about dealers making a margin, we all have to eat and pay the bills.
With the "perceived" market how it is though, you have to admit its them who are responsible for hyping up the prices.
The car attached has been for sale for an age (well over a year) @ 50k, I know as it was local to me and I have viewed it.
A 30k uplift within a week is not a refection of the market place, its a refection of the greedy dealers killing the market place for genuine enthusiasts.
Crimp said:
http://www.pistonheads.com/classifieds/used-cars/p...
its a refection of the greedy dealers killing the market place for genuine enthusiasts.
I agree. In the eyes of dealers the classic car market has enjoyed a "perfect economic storm". We've had a contraction in supply of new cars 2008-2011 (thus abnormally supporting the price of used cars), zero interest on savings, search for alternative investments, QE etc. All leading to the current asset bubble. The Dealers behaviour is frustrating but perhaps understandable given the business they're in.its a refection of the greedy dealers killing the market place for genuine enthusiasts.
The good news for genuine enthusiasts is that we are now at an inflection point:
http://www.pistonheads.com/gassing/topic.asp?h=0&a...
Agreed re the car in question it is rather........well lets say Miami Vice, but hey this is subjective and Stevie Wonder may like it.
Also a fool is dangerous but a fool with money 10 fold, and that's who these wheeler dealers are targeting.
I have a feeling though that it may implode very soon, a lot of cars hanging around which even the fools with money are ignoring.
Ive been quite fortunate over the years with buying the right variants at the right time and thus making a few quid, effectively my current stead which I drive to enjoy in all weathers and park where I like and clean when I want, was purchased out of the money I made on the GT cars of this world I've owned so in relative terms it was free.
If I was a buyer now and lets say I was flush with mular I would be very hesitant in buying any for fear of losing my shirt?
Has the ship sailed?
Also a fool is dangerous but a fool with money 10 fold, and that's who these wheeler dealers are targeting.
I have a feeling though that it may implode very soon, a lot of cars hanging around which even the fools with money are ignoring.
Ive been quite fortunate over the years with buying the right variants at the right time and thus making a few quid, effectively my current stead which I drive to enjoy in all weathers and park where I like and clean when I want, was purchased out of the money I made on the GT cars of this world I've owned so in relative terms it was free.
If I was a buyer now and lets say I was flush with mular I would be very hesitant in buying any for fear of losing my shirt?
Has the ship sailed?
http://www.pistonheads.com/classifieds/used-cars/p...
wasn't that sold at auction last week for around 11k? May not seem like a lot of money in total, but the mark-up when calculated as a percentage is about the same. Also, considering similar condition 928s were around the 6-7k mark not so long ago, I believe (hope!!) that this is a bubble that will burst, taking some of these dealers with it hopefully.
In this market, an enthusiast looking to buy a car will find prices rising so quickly that the monetary goalposts would have moved (maybe beyond their reach) from the beginning of his/her search until they find the perfect car for them.
wasn't that sold at auction last week for around 11k? May not seem like a lot of money in total, but the mark-up when calculated as a percentage is about the same. Also, considering similar condition 928s were around the 6-7k mark not so long ago, I believe (hope!!) that this is a bubble that will burst, taking some of these dealers with it hopefully.
In this market, an enthusiast looking to buy a car will find prices rising so quickly that the monetary goalposts would have moved (maybe beyond their reach) from the beginning of his/her search until they find the perfect car for them.
Edited by dimik on Friday 13th March 14:08
dimik said:
In this market, an enthusiast looking to buy a car will find prices rising so quickly that the monetary goalposts would have moved (maybe beyond their reach) from the beginning of his/her search until they find the perfect car for them.
I'm in that position. Please start playing your violins in unison at my predicament...Edited by dimik on Friday 13th March 14:08
Promised myself a Ferrari 355 GTS when I reached 30. I've studied hard, worked hard and saved hard and now in the course of a year they've almost doubled in value!
Now considering the alternatives:
- LHD 355 (thanks to the plummeting EURO these are looking like a relative bargain)
- Porsche 996 Turbo (these are rising fast now too)
- Wait for things to normalise and in the mean time buy soemthing that I won't lose my shirt on (maybe an MX5)
Something else to consider is that one could advertise a car at a high price for a while in order to price-condition the market as to its perceived value, before putting it an auction where buyers will indeed determine the market price. The "winner" may well then believe they got an absolute bargain if it went for significantly less than the previous advertised price. Of course, if it does indeed sell for the high retail price prior to the auction the seller won't be complaining.
Mark A S said:
I was in “communication” with this dealer last year, “attitude isn't great” is the understatement of the century!!
Eyes wide open would definitely apply with this crowd!
Makes George Cole's most famous character seem triple platinum in comparison!!Eyes wide open would definitely apply with this crowd!
Bought a 88 3.2 coupe from him years ago, got 500 yards up the road and it 'conked out' walked back and place was shut
managed to get him on the phone 'they are all like that - just let it warm up'. I Was young with much wool in my eyes!!
wtdoom said:
Come on !
It's got "turbo boost" lol
In fact, that 911 would go very well here! 80s-tastic!It's got "turbo boost" lol
https://www.youtube.com/watch?v=I72NQjyihdU
thegoose said:
Something else to consider is that one could advertise a car at a high price for a while in order to price-condition the market as to its perceived value, before putting it an auction where buyers will indeed determine the market price. The "winner" may well then believe they got an absolute bargain if it went for significantly less than the previous advertised price. Of course, if it does indeed sell for the high retail price prior to the auction the seller won't be complaining.
Spot onI believe this happens a lot
All smoke and mirrors
I'm not sure why there is a concern about what cars are advertised for . If car x is advertised at £x and if sells then that is what it is worth to someone. I'd it doesn't sell then the price will eventually be adjusted, dealers don't want a car collection.
If I won euro mils I'd buy the best 993 I could get my hands on, regardless of price.
Dealers are hoping for folk with that remit, and they are out there, have you seen the "what's in your garage " thread ?
If I won euro mils I'd buy the best 993 I could get my hands on, regardless of price.
Dealers are hoping for folk with that remit, and they are out there, have you seen the "what's in your garage " thread ?
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