Sadly selling due to crisis

Sadly selling due to crisis

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Discussion

67Dino

Original Poster:

1,558 posts

57 months

Wednesday 25th March
quotequote all
Met my neighbour on a walk yesterday (we stood safely apart on either side of the lane to chat), and he’s selling his v10 R8 due to the impact the crisis is having on his business. He’s not short of cash, but can’t justify the outgoings when he doesn’t have incomings.

I’ll be doing exactly the same with my California. In fact, this is now the third crisis I’ve been through, and sold a car each time (replacing it when things picked up again). Always sad to, but just can’t justify running an expensive car in lean times.

Anyone else out there sadly selling a car to match amended finances?

randlemarcus

12,087 posts

183 months

Wednesday 25th March
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Does taking a longer view perhaps justify keeping it? Surely he is looking at firesale prices right now, so a better solution might be to stick it in the garage, and keep a barge on the drive?

jdizz

203 posts

156 months

Wednesday 25th March
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Yeah, I may have to end up selling my diamond shoes as they're too tight.

phib

4,019 posts

211 months

Wednesday 25th March
quotequote all
I actually sold up just before it went mad, my 993 went on Tuesday. Ironically I was then planning on buying a california to go with my 355.

I dont want to be another doom merchant but if you put cars into we buy any car (which at least gave a rough guide) they have gone through the floor. I was offered a 2006 V8 vantage at trade (friend who is an Aston specialist) he was offering 18k for it WBAC £9k !!!

If you dont need really need to sell then I would be holding.

As a purchaser I would be wanting an amazing deal given circumstances and I suspect there are similar people out there, not meaning to piss on anyones bonfire but just the view of a buyer.

Phib

Rich135

601 posts

194 months

Wednesday 25th March
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I agree with the above comment - the prices are going to be a really tough pill to swallow, so if you can possibly afford to keep it, do so.

I sold my commuter car to WBAC just over a week ago, and I am so glad I did. I dread to think what their offer would be now....

V8fan

2,936 posts

220 months

Wednesday 25th March
quotequote all
WBAC are not making any offers at all, their owners, BCA Auctions are closed. And the Schofield ads are still running. I suppose they block paid for them so they may as well show them. rolleyes

Cudd Wudd

489 posts

77 months

Wednesday 25th March
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Surely now is by far the worst time to sell. Presumably rock bottom offers only and then the logistical nightmare of it all. No one should be coming to view and, even if by some chance someone bought it over the phone/similar, you cannot deliver it and they cannot collect it. Maybe you and your neighbour should just swap cars for a bit smile

67Dino

Original Poster:

1,558 posts

57 months

Wednesday 25th March
quotequote all
randlemarcus said:
Does taking a longer view perhaps justify keeping it? Surely he is looking at firesale prices right now, so a better solution might be to stick it in the garage, and keep a barge on the drive?
If prices are terrible (as they may be at present) then that’s true, would make more sense to keep.
But given the high running and depreciation costs of a supercar, if I can get anything sensible, I generally prefer to sell. This then covers the (hopefully small) risk that my business doesn’t recover and I would have just wasted money I could have better used. Plus I get to buy something new when times are better again, which always feels like a bit of a reward for weathering the storm...

J4CKO

29,678 posts

152 months

Wednesday 25th March
quotequote all
V8fan said:
WBAC are not making any offers at all, their owners, BCA Auctions are closed. And the Schofield ads are still running. I suppose they block paid for them so they may as well show them. rolleyes
I think it is also good for people sat at home to see normality, strange as it may seem.

yajeed

4,761 posts

206 months

Wednesday 25th March
quotequote all
phib said:
I actually sold up just before it went mad, my 993 went on Tuesday. Ironically I was then planning on buying a california to go with my 355.

I dont want to be another doom merchant but if you put cars into we buy any car (which at least gave a rough guide) they have gone through the floor. I was offered a 2006 V8 vantage at trade (friend who is an Aston specialist) he was offering 18k for it WBAC £9k !!!

If you dont need really need to sell then I would be holding.

As a purchaser I would be wanting an amazing deal given circumstances and I suspect there are similar people out there, not meaning to piss on anyones bonfire but just the view of a buyer.

Phib
There’s a facelift 2007 vantage for 22k I’m auto trader which has to be 6-7k down on what it would have been at the turn of the year.

They’re certainly taking a hit. I actually don’t expect it’ll sell, unfortunately since for a toy car, people surely will take a view in 3 months when things are more certain

Aaa.

2,921 posts

50 months

Wednesday 25th March
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All very well wanting to sell, but who is going to buy? Doubtful the trade wants it and very limited numbers of private buyers - even if they have the cash, is it the right thing to do to buy an R8 or similar?

Only if it's really cheap. I mean really.

Total Drivin

105 posts

18 months

Wednesday 25th March
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I'm camped in the shadows keeping a very close eye on MK2 RS prices.

I've lusted after them for years. hehe

MB140

2,159 posts

55 months

Wednesday 25th March
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I suppose I should count myself lucky. I’m in a guaranteed job. Paid regardless. I’ve always wanted an R8 ( looking at lower end of the market) or a 981 s.

I’ve seen 981 s (with reasonable mileage) going for sub £30k. First time I’ve seen that.

With low interest rates now might be the time to buy. Only problem is my 135i is now worth two chocolate biscuits and a safety pin so in reality I’m no closer.

Now if I had £30k cash sat around and could wait for the market to recover then I’d be buying now. Storing the m135i and selling it when prices recover.

So

17,139 posts

174 months

Wednesday 25th March
quotequote all
Total Drivin said:
I'm camped in the shadows keeping a very close eye on MK2 RS prices.

I've lusted after them for years. hehe
Despite being laid off yesterday?

I've seen several threads on PH in the past few days where posters have said, "XYZ trinket was beyond my wallet / on a wait list just a few short weeks ago, but now I can afford one / have got access to one".

It's a new reality.

If you can afford the car, despite the worst that could happen in the coming months, brilliant. But personally I want to see the curve rising before I invest in more stuff that I may desire, but don't need".




Total Drivin

105 posts

18 months

Wednesday 25th March
quotequote all
So said:
Despite being laid off yesterday?

I've seen several threads on PH in the past few days where posters have said, "XYZ trinket was beyond my wallet / on a wait list just a few short weeks ago, but now I can afford one / have got access to one".

It's a new reality.

If you can afford the car, despite the worst that could happen in the coming months, brilliant. But personally I want to see the curve rising before I invest in more stuff that I may desire, but don't need".
I'll have another job as a 'key worker' before the week is out. There's plenty out there.

Lowlands

16 posts

4 months

Wednesday 25th March
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Hi Dino - your account doesn’t seem to accept messages. I’m in the market for a Cali (you commented on my thread in the Supercars section) so please do get I touch with details.


CoreyDog

212 posts

42 months

Wednesday 25th March
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Since my wife is now working from home and I've seen my work slow massively (Self employed) we talked about selling her car but as has been said, it just really isn't worth it at the moment, would get no where near what it was worth 6 months ago.

Decided to SORN hers and put it in garage and can just use mine until life starts to return to normal.

phib

4,019 posts

211 months

Wednesday 25th March
quotequote all
V8fan said:
WBAC are not making any offers at all, their owners, BCA Auctions are closed. And the Schofield ads are still running. I suppose they block paid for them so they may as well show them. rolleyes
BCA stil going

"As of Wednesday 25th March there will be no physical or BCA Live Online sales, all vehicles will be sold via BCA Buy Now.

Our priority, as always is to support our customers and people as best we can, therefore we will have over 20,000 vehicles available through our online BCA Buy Now platform. If you don’t have access to buy online please complete the online application form*.

You can also search and buy using the BCA Buyer app. To download the BCA Buyer app search ‘BCA Buyer’ on the App Store or Google Play Store."

Phib

nickfrog

11,365 posts

169 months

Wednesday 25th March
quotequote all
I don't know the underlying cost of owning a R8 or a Cali but surely it's far lower over say 12 months than the crystallisation of exceptional and (hopefully) transient added depreciation. Or is there a cash-flow limitation at play?

phib

4,019 posts

211 months

Wednesday 25th March
quotequote all
Lowlands said:
Hi Dino - your account doesn’t seem to accept messages. I’m in the market for a Cali (you commented on my thread in the Supercars section) so please do get I touch with details.
This one sold pre coona for £56k (inc fees) 2010 with 45k miles, was lovely.

https://www.historics.co.uk/buying/auctions/2020-0...

Now offered this week at £49k

I would give it 90 days

Phib