The Collecting Cars Porsche thread…

[ATM]

GT4RS said:

Let’s not forget we are now in a difficult market, only the very best will sell and even those will be selling at far lower prices than historically.

I believe we are in a difficult market now but not sure it's common knowledge yet or is it?

[ChrisW.]

So the seller decided to hold ?

How does that work ???

[GT4RS]

birdcage said:

GT4RS said:

ChrisW. said:

Just for clarity the £145k ish was the price of the ex-Chris Harris M3 ... the red GT3 sold (is now showing as unsold) for well below its previous sale price but looked a nice car ... possibly a few complicated questions asked towards the end ... how do you get a compression test done very close to the auction close ?

But how many cars are sold with compressions tests ?

I guess if you want the best price you should answer all these questions within the description and before others can sow a doubt that cannot easily be resolved within the auction time.

It's a fine line between asking a question that is relevant to a potential mis-description and one that is scare mongering for some reason ?

Edited by ChrisW. on Sunday 19th February 09:15

Let’s not forget we are now in a difficult market, only the very best will sell and even those will be selling at far lower prices than historically.


Wonder why the buyer pulled out.

The buyer didn't pull out..

How would you know that, are you the owner?

Something doesn’t add up with this car is been on and off sale a number of times.

[blackmamba]

It wasn’t an issue with the car that prevented the sale.

[Stryke]

Buyer didn't pull out, seller pulled out.

[BertBert]

Stryke said:

Buyer didn't pull out, seller pulled out.

That means the seller has to pay the fee doesn't it?

[ChrisW.]

I seem to recall that the red GT3 was showing as sold at £88k.

You are saying that the reserve was higher than this and the purchaser decided that £88k + ? commission was too much and so pulled.

There wasn't enough room in the commission to make it work. Minimum commission is zero !

And the seller may wish his reserve had been lower to close the sale at this level.

But this doesn't alter the fact that CC thought they had closed a deal ... so what changed ?

[thegreenhell]

I'd be more annoyed as the 'buyer', as CC will have taken their buyer's fee the moment the auction finished with a 'sale', and then they have a strict no refunds policy even if the sale falls through.

[ChrisW.]

Though this must be at their discretion and who knows what the full picture is ?

Seller may pay something, buyer would pay nothing without a real fight ... CC I assume prefer to keep some goodwill ...

This is business, if it can happen it will

[ATM]

ChrisW. said:

goodwill

In this day and age?

[thegreenhell]

ChrisW. said:

Though this must be at their discretion and who knows what the full picture is ?

Seller may pay something, buyer would pay nothing without a real fight ... CC I assume prefer to keep some goodwill ...

This is business, if it can happen it will

There are no seller fees at all apart from paying for the photographer.

As a buyer you have to give them a valid credit card in order to bid, and they take their fees from that immediately at the end of the auction if the reserve is met. Their T&Cs say no refunds for any reason, so any fight would favour the one holding the fees, which is CC. I suppose they could give a discretionary refund if it's their own mistake, but this is all supposition.

[Mach]

GT4RS said:

Goes to show real world selling prices are massively different to what certain dealers are sell trying to advertise cars for.

Be interesting to see if we see a dealer trying to punt this on for a 25k profit after they have given it a quick wash with a bucket of fairy.

You make these grand statements about "the market" based on what?

A 997.2 GT3 came to the market at Ashgoods for £110k in the last couple of weeks and sold within days. The one at 911 Virgin also went quickly at £115k. I very much doubt either had to be discounted after being on the market for such a short while. Are you saying the buyers are mugs?

And yes, I'm in the market for one so I'd really like to know what I should be paying please.

Many thanks

[BertBert]

The terms say a seller that pulls out pays the fee

[Stryke]

BertBert said:

The terms say a seller that pulls out pays the fee

Seems the powers above removed my previous response.

The seller won't pay as they pulled out out of no reason of their own.

Buyer did not pull out.

I'm sure you can figure it out.

[GT4RS]

Mach said:

GT4RS said:

Goes to show real world selling prices are massively different to what certain dealers are sell trying to advertise cars for.

Be interesting to see if we see a dealer trying to punt this on for a 25k profit after they have given it a quick wash with a bucket of fairy.

You make these grand statements about "the market" based on what?

A 997.2 GT3 came to the market at Ashgoods for £110k in the last couple of weeks and sold within days. The one at 911 Virgin also went quickly at £115k. I very much doubt either had to be discounted after being on the market for such a short while. Are you saying the buyers are mugs?

And yes, I'm in the market for one so I'd really like to know what I should be paying please.

Many thanks

High retail advertised prices may still try £105 to £110k but that doesn’t meant they are selling and it certainly doesn’t mean trade bids are anywhere near that price.

If you’re in the market buy the red CC one for less than 90k and you have plenty to spend on it if and when things fail.

Do you not feel the market has slowed and prices have fallen?

[GT4RS]

BertBert said:

The terms say a seller that pulls out pays the fee

That could work out to be an expensive advert for the seller!

[AyBee]

BertBert said:

The terms say a seller that pulls out pays the fee

Surely if a seller pulls out through no fault of their own (perhaps a rogue employee of CC inputs a reserve that's not what was agreed by the seller) then it's possible for the transaction to be cancelled and nobody pays fees? Things can, and do, happen that are outside of the general T's&C's and CC would be unlikely to legally fight for fees in such a scenario?

[BertBert]

Stryke said:

BertBert said:

The terms say a seller that pulls out pays the fee

Seems the powers above removed my previous response.

The seller won't pay as they pulled out out of no reason of their own.

Buyer did not pull out.

I'm sure you can figure it out.

I was just saying that to correct the statements that the buyer is still on the hook for the fee if the seller pulls out.
I'm probably being dense, but I have not idea of the circumstances of this seller pulling out!
The good thing is that the fees are on credit card so sec 75 can be used if CC were to be tricky. However I suspect that they will keep to their terms plus CRA strictures. So if the problem that meant the seller pulling out was a mistake by CC, then I would be very surprised in any fees changed hands.

[ChrisW.]

To be fair to CC this market isn't being kind to them.

The number of lowered reserves and the sell through appear to be high and low respectively ... yesterday evening most cars had lowered reserves and this morning only four cars appear to have sold ?

For today there are 16 significant sales on offer, I wonder how many will complete ?

If the car doesn't sell, CC are paid nothing for their work ... if the photographer keeps their fee.

[Jefferson Steelflex]

Agreed. This was part of the conversation I had with them when looking to market by 981 BGTS a few weeks back. They would only list it if I agreed to a reserve which I felt was way too low and risky for me to take on.