Would you buy a 997 at an auction?
Discussion
I was searching the BCA Stock Locator for an Audi allroad for my brother and had to pay £10 for 40 searches - I'm not in the trade.
Since then I've been amusing myself using the surplus searches by seeing what's coming up and found:
04 997 C2S 27k miles
05 997 C4S 21k miles
06 997 C2S 12k miles
Details are very sketchy, though the 27k one has had its first service.
Would you risk it? I'm presuming these are repos, but they may have come through other sources. One is still under warranty and the others could be put through the 111 point check and warranted for £895.
I presume also that once you got beyond the trade price you'd lose the professional buyers and get the car for a fair saving on the retail price.
Has anyone done this?
Since then I've been amusing myself using the surplus searches by seeing what's coming up and found:
04 997 C2S 27k miles
05 997 C4S 21k miles
06 997 C2S 12k miles
Details are very sketchy, though the 27k one has had its first service.
Would you risk it? I'm presuming these are repos, but they may have come through other sources. One is still under warranty and the others could be put through the 111 point check and warranted for £895.
I presume also that once you got beyond the trade price you'd lose the professional buyers and get the car for a fair saving on the retail price.
Has anyone done this?
In our case usually direct from the car`s private owner !
Haven`t bought a car from auction for well over 10 years. The biggest problem is that you are potentially bidding against people who aren`t very good at their jobs and either miss faults on the cars or pay too much for the cars. How often have I watched in amazement as cars sell for more money than we had similar vehicles advertised for.
This is especially the case with premium vehicles such as a Porsche where a dealer enjoys being seen to buy the car and worse still the less attention he pays to the car (in terms of it`s condition) as he bids the "cooler" he thinks he looks !
As with all things there will always be the right place at the right time but generally the low effort nature of auctions (one trip and you see hundreds of cars go through the block), means that you are unlikely to be the only person to see a car`s value.
Oddly enough though we never really had any success selling through auction for some reason not being "in" with the auction house, the only time it really worked for me was 20 years ago with an Audi coupe which seized it`s gearbox at high speed on the way to work. The momentum of the car freed the gearbox off again but things were clearly not happy in there. It was straight down to Enfield where I watched it make a £200 profit sold as seen due to auction rules (over 5 years).
15-20 years ago I used to spend a lot of time at the auctions and know them well using them to learned my craft. Long hours into the night with the spanners srting out my f*ck ups soon focused the mind and sharpened the skills.
Ah happy days
Henry
Haven`t bought a car from auction for well over 10 years. The biggest problem is that you are potentially bidding against people who aren`t very good at their jobs and either miss faults on the cars or pay too much for the cars. How often have I watched in amazement as cars sell for more money than we had similar vehicles advertised for.
This is especially the case with premium vehicles such as a Porsche where a dealer enjoys being seen to buy the car and worse still the less attention he pays to the car (in terms of it`s condition) as he bids the "cooler" he thinks he looks !
As with all things there will always be the right place at the right time but generally the low effort nature of auctions (one trip and you see hundreds of cars go through the block), means that you are unlikely to be the only person to see a car`s value.
Oddly enough though we never really had any success selling through auction for some reason not being "in" with the auction house, the only time it really worked for me was 20 years ago with an Audi coupe which seized it`s gearbox at high speed on the way to work. The momentum of the car freed the gearbox off again but things were clearly not happy in there. It was straight down to Enfield where I watched it make a £200 profit sold as seen due to auction rules (over 5 years).
15-20 years ago I used to spend a lot of time at the auctions and know them well using them to learned my craft. Long hours into the night with the spanners srting out my f*ck ups soon focused the mind and sharpened the skills.
Ah happy days
Henry
Good thread!
Wonder what the '06' one went for / was like as I would have thought that new and with a manufacturers warranty wouldn't be too bad.
About 10 years ago I worked at a place near Blackbushe and visited many many auctions to just look. I was amazed at some cars went for more than they would be privately - people seem blinded "auction = bargain"! I noted how it was apparent who did this as their bread and butter and who was Joe Public looking for a bargain. Also the auctions which would attract many of the public (Saturday mornings) would result in things going for silly prices.
Once saw a couple of guys fiddling with a car - let down one of the tyres, removed a fuse (dunno what) and put a rag in the air intake. It spluttered and coughed when started and driven round. I presume the same guys bought it
I did actually buy a car from there. Was the 3rd car through on an Auction that started 8am and the only other bidders were traders who didn't bother to bid against me (mr.Public). Big Granada Ghia, cost £780, I did 24,000 miles in it, never cost a thing, sold for £1500 6 months later
My thoughts were if you can identify the traders and the people who know what they're bidding on - copy them
Wonder what the '06' one went for / was like as I would have thought that new and with a manufacturers warranty wouldn't be too bad.
About 10 years ago I worked at a place near Blackbushe and visited many many auctions to just look. I was amazed at some cars went for more than they would be privately - people seem blinded "auction = bargain"! I noted how it was apparent who did this as their bread and butter and who was Joe Public looking for a bargain. Also the auctions which would attract many of the public (Saturday mornings) would result in things going for silly prices.
Once saw a couple of guys fiddling with a car - let down one of the tyres, removed a fuse (dunno what) and put a rag in the air intake. It spluttered and coughed when started and driven round. I presume the same guys bought it
I did actually buy a car from there. Was the 3rd car through on an Auction that started 8am and the only other bidders were traders who didn't bother to bid against me (mr.Public). Big Granada Ghia, cost £780, I did 24,000 miles in it, never cost a thing, sold for £1500 6 months later
My thoughts were if you can identify the traders and the people who know what they're bidding on - copy them
pikey said:
My thoughts were if you can identify the traders and the people who know what they're bidding on - copy them
Sounds like a plan to lose a fortune to me. A glasses guide, a nonchalant amble, a casual wink to the auctioneer come bidding time and a decent smoke in the car park do not a car expert make.It could be even worse, you might find yourself bidding against the vehicle`s owner
Henry
Sorry, Henry and Joel- this is not working for me...if auction prices are so high then why dont you just sell through auction and no longer deal with the great unwashed? I guess commissions would have some impact on your margins but compared to storage costs, site costs, salesmens' commissions etc, the auction must provide value for money?
Henry-F said:
pikey said:
My thoughts were if you can identify the traders and the people who know what they're bidding on - copy them
Sounds like a plan to lose a fortune to me. A glasses guide, a nonchalant amble, a casual wink to the auctioneer come bidding time and a decent smoke in the car park do not a car expert make.It could be even worse, you might find yourself bidding against the vehicle`s owner
Henry
I've got a point though - if you visit auctions a fair bit you can soon tell who's there on day release and who frequents it to put food on their plate and a roof over their head!
Nonchalant ambles, winks and looking like this
Easy!
Personally i have never been to an auction in my life.
All the people on here whose Porsches we have bought will confirm that we take about half an hour inspecting a car before we will buy it.
If its under warranty then it might be different but then they wouldnt really be in an auction,it would be sold directly to someone in the trade.
Every car my company has ever bought was from the private owner directly or from another dealer where they part exchanged it where you have time to inspect it.
Porsches in auctions will invariably be rental or lease cars.We avoid lease and rental cars.
Selling in auctions we wouldnt do.
I wouldnt want £1,000,000 of my money sitting in an auction house for a week while they wait to be flogged off.
What an insult to the Porsche marque that would be.
Porsches are special,shouldnt be allowed in auctions.
Anyway how then are we going to meet all those lovely customers!
There are people who buy and sell out of auctions from one auction to another but thats another story.
From what i have heard,at Blackbush,all Porsches sell for over trade price and some over retail when people get too excited.
Joel
All the people on here whose Porsches we have bought will confirm that we take about half an hour inspecting a car before we will buy it.
If its under warranty then it might be different but then they wouldnt really be in an auction,it would be sold directly to someone in the trade.
Every car my company has ever bought was from the private owner directly or from another dealer where they part exchanged it where you have time to inspect it.
Porsches in auctions will invariably be rental or lease cars.We avoid lease and rental cars.
Selling in auctions we wouldnt do.
I wouldnt want £1,000,000 of my money sitting in an auction house for a week while they wait to be flogged off.
What an insult to the Porsche marque that would be.
Porsches are special,shouldnt be allowed in auctions.
Anyway how then are we going to meet all those lovely customers!
There are people who buy and sell out of auctions from one auction to another but thats another story.
From what i have heard,at Blackbush,all Porsches sell for over trade price and some over retail when people get too excited.
Joel
point to note - if you not have a trade account with BCA you will have to pay a buyers premium which could be over £1k on a car like this
add tax and prep costs (most auction cars need tyres, small dings fixing, sometimes missing spare keys etc) and it could no longer look like a great deal
Also for whatever reason viewing is sometimes limited to the day of the auction (no test drive etc)
add tax and prep costs (most auction cars need tyres, small dings fixing, sometimes missing spare keys etc) and it could no longer look like a great deal
Also for whatever reason viewing is sometimes limited to the day of the auction (no test drive etc)
My point is that there ARE low mileage cars, one of which is still under warranty, for sale in the next few weeks. The objections to buying in this manner do seem to be coming from people who retail Porsches . . . .
The registration numbers are shown on the search, so at the very least you could do an HPI check.
Edited by pete.g on Tuesday 18th September 13:35
Auction = you take your chances. End of.
If the car is still under Porsche warranty due to age, you're in luck. There are bargains to be had, I've seen E46 M3s go through at a good £5k under PH private ad prices, there are also premiums being paid, I've seen a Pug 206 GT HDi go through for a full £1000 more than they were available at main dealers.
If you know what to look for and dont mind not getting a test drive, you can pick up a bargain if you keep your head screwed on.
If anyone fancies giving it a go, I would have to warn you: If you walk in with a Parkers guide under your arm and the wife/child on the other, the auctioneers will rape you. You almost see them nudge each other with glee when such folk wander in. Car for the little lady? Car for the newly licenced sprog? Dont mind bidding against the wall do you sir?
Picking up on Queresha's point. Regardless of whether you hold an account or not, you'll be paying a buyers premium. Being trade only gets you immunity from paying the buyers indemnity.
If the car is still under Porsche warranty due to age, you're in luck. There are bargains to be had, I've seen E46 M3s go through at a good £5k under PH private ad prices, there are also premiums being paid, I've seen a Pug 206 GT HDi go through for a full £1000 more than they were available at main dealers.
If you know what to look for and dont mind not getting a test drive, you can pick up a bargain if you keep your head screwed on.
If anyone fancies giving it a go, I would have to warn you: If you walk in with a Parkers guide under your arm and the wife/child on the other, the auctioneers will rape you. You almost see them nudge each other with glee when such folk wander in. Car for the little lady? Car for the newly licenced sprog? Dont mind bidding against the wall do you sir?
Picking up on Queresha's point. Regardless of whether you hold an account or not, you'll be paying a buyers premium. Being trade only gets you immunity from paying the buyers indemnity.
Edited by emicen on Tuesday 18th September 14:59
Pete
I certainly wasnt trying to raise objections to you buying at auction.
In fact the only Porsche worth considering buying at auction,without a test drive or warranty or inspection would be one still under warranty.
Then hopefully you know how to check it hasnt been crashed and you are quids in if you buy it right.
HPI check clear alone doesnt mean a lot.
Just that it wasnt written off.
Good 997's are unlikely to be in auctions in my opinion.
So much demand for them in the trade.
Joel
I certainly wasnt trying to raise objections to you buying at auction.
In fact the only Porsche worth considering buying at auction,without a test drive or warranty or inspection would be one still under warranty.
Then hopefully you know how to check it hasnt been crashed and you are quids in if you buy it right.
HPI check clear alone doesnt mean a lot.
Just that it wasnt written off.
Good 997's are unlikely to be in auctions in my opinion.
So much demand for them in the trade.
Joel
qureshia said:
point to note - if you not have a trade account with BCA you will have to pay a buyers premium which could be over £1k on a car like this
When you win the bid and go up to pay the deposit and get the ticket, grunt "trade" and flash a card with some sort of car picture and "MOTORS" at the end of some random company name (I made one myself). When you go to pay the balance on the ticket, the cashier doesn't challenge the trade element. Easy Well, that's how it worked 10 years ago at Blackbush anyway.
emicen said:
If you walk in with a Parkers guide under your arm and the wife/child on the other, the auctioneers will rape you. You almost see them nudge each other with glee when such folk wander in. Car for the little lady? Car for the newly licenced sprog? Dont mind bidding against the wall do you sit?
Oh that's a tip, don't bid! Look uninterested and only announce interest as it closes. Quicker, cleaner Henry-F said:
the only time it really worked for me was 20 years ago with an Audi coupe which seized it`s gearbox at high speed on the way to work. The momentum of the car freed the gearbox off again but things were clearly not happy in there. It was straight down to Enfield where I watched it make a £200 profit sold as seen due to auction rules (over 5 years).
Henry
This is not funny.Henry
Vr6-er said:
Henry-F said:
the only time it really worked for me was 20 years ago with an Audi coupe which seized it`s gearbox at high speed on the way to work. The momentum of the car freed the gearbox off again but things were clearly not happy in there. It was straight down to Enfield where I watched it make a £200 profit sold as seen due to auction rules (over 5 years).
Henry
This is not funny.Henry
Bottoms cut off dipsticks to hide health problems normally given away by the oil. Tinfoil and duct tape to seal blowing exhausts. ATF fluid to clear valvetrain rattle. No water in the cooling system to hide overheating problems. It all goes on. Dealers are not trading risk free buying from auctions!
It would be interesting to see exactly how many pups Mike Brewer et al bought for their Channel 5 / Discovery Channel shows in between the fixer uppers.
Gassing Station | Porsche General | Top of Page | What's New | My Stuff