Sadly selling due to crisis

Sadly selling due to crisis

Author
Discussion

nickfrog

11,759 posts

170 months

Friday 27th March
quotequote all
Redlake27 said:
nickfrog said:
Redlake27 said:
It's a tough market to sell in and I'm reluctant to move on price, so I'm including 12 toilet rolls in the boot to double the value.
Interested if they are 3 ply and Aloe Vera scented.
I'd do the deal, but Vera is quarantined next door.
laugh

Shnozz

21,590 posts

224 months

Friday 27th March
quotequote all
mike74 said:
Numerous cars that I've been monitoring on Ebay that have been for sale, some for 6 months or more, at stupid prices all still recently getting re-listed, yet again still for the same stupid prices.

Not seeing any signs of a fire sale just yet.

(Unfortunately)
I would think it will take 6 - 12 months for this to filter through to any markets, cars included. There might be a few exceptions where people foresee whats coming, or have no reserves at all, but they will be the minority.

Pvapour

8,705 posts

206 months

Saturday 4th April
quotequote all
IBAC
(as long as its an R8 V10 cabrio or Bentley gtc 2nd gen biggrin)

may as well use this thread for any desperate to sell whistle

niggtv

107 posts

48 months

Saturday 4th April
quotequote all
EarlOfHazard said:
phib said:
greggy50 said:
Is the Aston still available? I would be tempted at that money depending on the mileage etc.

Thanks
Sorry sold for £13k in the end

Phib
Bloody hell ! Cheap cheap
And no doubt a lie. There are a lot of people that enjoy making stuff up to reinforce a point, but there's no chance you'd only be able to get that kind of money for even a high miles early Vantage with issues. No chance.

Edited by niggtv on Saturday 4th April 13:08

kev.RS

215 posts

160 months

Saturday 4th April
quotequote all
67Dino said:
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.
Hi,

Sorry to here of your friends situation.
Would it be possible for you to send me some quick details of the R8 please?
Usual stuff really,
Is it a Plus?
Coupe
Gearbox
Age
Mileage
Colour exterior and interior
Extra options that you know of eg, sports pack, 20’s as I know someone that is after one but is quite specific.

Thanks in advance

Kevin
(I did try to message you privately but your profile doesn’t allow them)

sparks_190e

11,316 posts

166 months

Saturday 4th April
quotequote all
niggtv said:
EarlOfHazard said:
phib said:
greggy50 said:
Is the Aston still available? I would be tempted at that money depending on the mileage etc.

Thanks
Sorry sold for £13k in the end

Phib
Bloody hell ! Cheap cheap
And no doubt a lie. There are a lot of people that enjoy making stuff up to reinforce a point, but there's no chance you'd only be able to get that kind of money for even a high miles early Vantage with issues. No chance.

Edited by niggtv on Saturday 4th April 13:08
What makes you say that? A perfectly up together DB7 went for £10kish at an auction recently... Any car is worth what someone will pay for it. Cheapest Vantage on Autotrader is £19k, it's a safe assumption that cheaper ones are out there on the not so usual sites.

CharlesdeGaulle

12,568 posts

133 months

Saturday 4th April
quotequote all
sparks_190e said:
niggtv said:
EarlOfHazard said:
phib said:
greggy50 said:
Is the Aston still available? I would be tempted at that money depending on the mileage etc.

Thanks
Sorry sold for £13k in the end

Phib
Bloody hell ! Cheap cheap
And no doubt a lie. There are a lot of people that enjoy making stuff up to reinforce a point, but there's no chance you'd only be able to get that kind of money for even a high miles early Vantage with issues. No chance.

Edited by niggtv on Saturday 4th April 13:08
What makes you say that? A perfectly up together DB7 went for £10kish at an auction recently... Any car is worth what someone will pay for it. Cheapest Vantage on Autotrader is £19k, it's a safe assumption that cheaper ones are out there on the not so usual sites.
Yeah, I thought 'and no doubt a lie' was pretty hubristic as well as ill-mannered. Wake up and smell the coffee.

phib

4,061 posts

212 months

Saturday 4th April
quotequote all
You can think what you like, there is a reality out there at present some people need cash quick and I don't think there are too many people prepared to buy blind at a high price ?

There aren't many people buying out there right now !

If vantages are £19k retail what do you think the trade we’re offering before the madness ?

Be sure they went offering £18 or even £17k more like £15k !

Phib

Edited by phib on Saturday 4th April 20:49

CharlesdeGaulle

12,568 posts

133 months

Saturday 4th April
quotequote all
I think we're in general agreement, apart from niggtv who's convinced we're talking bks.

Julian Thompson

1,425 posts

191 months

Saturday 4th April
quotequote all
There seems to be more excitement from people waiting to hoover up a bargain than there does movement from people who supposedly have to sell these things.

That’s a worry for me - making money (in my limited experience) just is rarely so simple.

There is a distinct possibility that the “hoovers” might be less smug when the taxation bites to pay for this, later. I suspect no stone unturned from .gov and even - no wait, - especially - if you’re able to contribute proudly to the “how much cash in my house and all my pension pots and businesses and investments and inheritances” thread then, in fact, YOU are the target for the chancellor. No point asking a load of redundant travel agents for cash, is it?

CharlesdeGaulle

12,568 posts

133 months

Saturday 4th April
quotequote all
Julian Thompson said:
There seems to be more excitement from people waiting to hoover up a bargain than there does movement from people who supposedly have to sell these things.

That’s a worry for me - making money (in my limited experience) just is rarely so simple.

There is a distinct possibility that the “hoovers” might be less smug when the taxation bites to pay for this, later. I suspect no stone unturned from .gov and even - no wait, - especially - if you’re able to contribute proudly to the “how much cash in my house and all my pension pots and businesses and investments and inheritances” thread then, in fact, YOU are the target for the chancellor. No point asking a load of redundant travel agents for cash, is it?
The situation you posit is a possibility sure, albeit remote, but you've moved a few steps - maybe budgets - beyond the distressed seller actually selling something. You can only 'hoover' what's being sold.

Cheib

18,457 posts

128 months

Saturday 4th April
quotequote all
RDMcG said:
I have a couple of GT3RS in winter storage ( its Canada), and not going to sell them. However, if this drags on I will simply leave them stored for the duration, a bit like when cars were stored during the war. Nowhere to go anyway. We are also fairly locked down.

My father told me a story about when he was young in Ireland, after the war there were many very old cars in storage, (old crocks as they were known), and they cleared then out of a commercial garage where they had been stored and dumped them in a quarry. There were some valuable cars there which would be worth a lot now including a Bugatti, but nobody to buy them.

I doubt if this will be that badsmile....
My Dad was growing up in the West of Ireland on a farm during WW2....they smelted a Rolls Royce amongst other cars...I guess metal was in high demand during that period !

phib

4,061 posts

212 months

Saturday 4th April
quotequote all
CharlesdeGaulle said:
I think we're in general agreement, apart from niggtv who's convinced we're talking bks.
Collecting cars is a great site to understand what cars are ACTUALLY selling for

https://collectingcars.com/sold

Phib

Cheib

18,457 posts

128 months

Saturday 4th April
quotequote all
cayman-black said:
I don't think there is hope in hells chance to sell a car right now and even less chance something nice.

I must add it doesn't stop me looking though, but it can go no further!
It seems like it is DK Engineering sold this early 911 within 24 hours this week

https://www.dkeng.co.uk/ferrari-sales/1189/blue_ch...

Special car though...4th 911 in the UK and has been built byTuthill for 2.0L Cup. They charge £250k plus for a 2.0L cup car so that will have been £200k plus I would have thought ! DK and Tuthill both have a fantastic reputation so I am sure it’s a great car if they vouch for it.

67Dino

Original Poster:

1,595 posts

58 months

Saturday 4th April
quotequote all
kev.RS said:
67Dino said:
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.
Hi,

Sorry to here of your friends situation.
Would it be possible for you to send me some quick details of the R8 please?
Usual stuff really,
Is it a Plus?
Coupe
Gearbox
Age
Mileage
Colour exterior and interior
Extra options that you know of eg, sports pack, 20’s as I know someone that is after one but is quite specific.

Thanks in advance

Kevin
(I did try to message you privately but your profile doesn’t allow them)
Appreciate the interest, but gather it’s already sold. Good time to buy though, I’m sure.

RDMcG

14,878 posts

160 months

Sunday 5th April
quotequote all
Julian Thompson said:
There seems to be more excitement from people waiting to hoover up a bargain than there does movement from people who supposedly have to sell these things.

That’s a worry for me - making money (in my limited experience) just is rarely so simple.

There is a distinct possibility that the “hoovers” might be less smug when the taxation bites to pay for this, later. I suspect no stone unturned from .gov and even - no wait, - especially - if you’re able to contribute proudly to the “how much cash in my house and all my pension pots and businesses and investments and inheritances” thread then, in fact, YOU are the target for the chancellor. No point asking a load of redundant travel agents for cash, is it?
I think your general point makes a lot of sense. I am not living in the UK, but there is not doubt that governments will need to raise revenue and urgently.
We are now in a transitional period where the real impact is still to some; those with some funds now may well seek bargains, but the coming recession in my view will be severe.

How do you define a bargain?...if your assets and income are cut in half, or you are just overleveraged and have a cash crunch , then a cheap car might be well below previous levels, but you do not want to sink reduced assets into a car.

There is a super rich level of course where the most exceptional cars will trade, but at the volume exotic level, say Ferrari Daytonas, Porsche 1973 Carrera RS, 1961 E Types and so on, my sense is that there will be very bad times. Even 300SLs or moderns like the Carrera GT will get hit badly.
There will be no cheaper ( say) Ferrari P3s, but stuff like the BMW Z8 will do very poorly in the next year.

Export56

55 posts

41 months

Sunday 5th April
quotequote all
Might make people realise the waste of money having expensive metal on the drive is. Nothing brings it home as much as seeing it unused just sitting there. I have a 69 plate company huge lump on the drive and I am thinking how much its costing me and a complete waste for my weekly supermarket run. Sometimes it takes a jerk to get you out of learnt behaviour and this is just it end of lease I'm not renewing it, the amount I pay for it in tax is just daft.

mike74

1,821 posts

85 months

Sunday 5th April
quotequote all
Julian Thompson said:
There is a distinct possibility that the “hoovers” might be less smug when the taxation bites to pay for this, later
Even before CV19 became a factor I've been banging on about how VED could/would probably be drastically increased on older, high emission, high performance cars as part of the push for EV.

Now we've got to pay for CV19 I see an increase on VED for these type of cars even more likely.

MDL111

4,472 posts

130 months

Sunday 5th April
quotequote all
Am definitely considering if I should list a car for sale, but likely not at a complete knock-down price as I don’t need to sell yet. Certainly not super happy with the decision to buy two cars prior to the crisis hitting (both of which I have not even seen yet) - would rather have that money back right now .... it looks like there might well be a double impact coming, business bad and therefore less income plus increased tax burden (possibly including a wealth tax to pay for the stimulus package) - am not in the UK btw
I am not complaining though, if I need to I can sell everything a very low prices to generate some cash. Lots of other people a lot worse off. No family to take care of, nobody I know sick yet etc

With regards to the market - I have been thinking for the last 3-4 years that most cars are ridiculously overvalued thanks to low interest rates and the supposed investment value of cars (self fulfilling prophecy imo, which can turn sour wry quickly). Demand (and prices) has already been decreasing steadily (if slowly) for a good while on most cars and I suspect this crisis will lead to a substantial realignment esp. for all that stuff that is not even particularly rare (am thinking pretty much all modern “limited” cars post 2010 when production was ramped up as well as most standard cars that pre-date that but still increased substantially). In the long run, I think there is a case to be made that race cars that are eligible for historic events (Goodwood, spa, Le Mans, Mille, targa etc) will continue to appreciate as opportunities to drive (sports)cars on the road will become fewer and fewer over the next decade or two, at least in a way that can be called “fun”

Good luck to the guys selling and also to the guys buying - maybe we will get back to a world where depreciation is a given and people start judging cars more on merit than future financial performance again

niggtv

107 posts

48 months

Sunday 5th April
quotequote all
CharlesdeGaulle said:
I think we're in general agreement, apart from niggtv who's convinced we're talking bks.
Sorry, I worded poorly/bluntly, but people often twist the numbers for a point. The first post suggested that "a friend" in the trade was offering it to him for £18k. Perhaps this friend wasnt that much of a friend if he was trying to wash Phib for the extra £5k? Unless it was utterly f*cked, then a 1 day auction on eBay would've got over £18k...so it seems unlikely that the best the trade can achieve anywhere is £13k. Even early ones are selling on eBay for over £20k over the past week. BCA cars are still selling on buy it now at around CAP clean, the CCA (classic) auctions still show some strong prices, and a couple of other options I'm looking at still seem to be fairly unscathed.

I sold my 'expensive' car a month ago (not with any foresight, just good timing!). If the right replacement car comes up now, I'll still buy it and am not fussed about trying to play the market. I'm looking to fairly long term ownership, it's a car I've been wanting for ages, and even increased short term depreciation is still going to be less than I'd pay on a new one.

I'm not saying that prices wont drop, but this and a couple of other threads seem to be excitedly talking down prices - with plenty of people hanging on to gleefully benefit from others' misfortunes.....it's very PH.