Why do people sell cars at auction?

Why do people sell cars at auction?

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Discussion

So

15,525 posts

163 months

Friday 5th April
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Maranellohouse said:
So said:
If only there were a way for these people to transfer money from bank to bank electronically and not have to rely upon cheques, envelopes and stamps.
I suspect its done that way for a reason, better way to create delay tactics.
No st. wink

will_

5,658 posts

144 months

Monday 8th April
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Obviously we do not know which particular auction house is being discussed in this thread, but there has been at least one previous case of an auction house not paying out the money received from selling cars. Below is a post I made on another thread about Coys of Kensington (Sales) Limited. All of this is in the public domain (and was reported in the press at the time).

will_ said:
Coys of Kensington (Sales) Ltd ceased trading in 2004.

https://www.telegraph.co.uk/finance/2874724/Classi...

"The majority of the 33 creditors are sellers whose cars were successfully sold at that auction but who have yet to receive a settlement, well past the 35 days stated in Coys' conditions of business for that auction."

It subsequently sued its creditors for libel!
https://www.telegraph.co.uk/finance/2878351/Classi...

[Note the value of a DB6 Vantage!]

Maranellohouse

163 posts

149 months

Tuesday 9th April
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I'm afraid you are reporting fake news, along with anyone else who has voiced their issues. I was told this yesterday 08/04 by senior member of staff at the Auction house in Kensington that I cant name when I asked the question if they actually had the funds to pay me and pointed out that there where others that appear to have the same issues as myself. As from that point the not mentioned auction house has advised me that they will be having no further contact with me. They still have my money though.

The exact quote is bellow.

your reference to Internet forums is really rather passé bearing in mind it is now considered an unregulated fake news generator and is entirely discredited.

Ferruccio

828 posts

60 months

Tuesday 9th April
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Maranellohouse said:
I'm afraid you are reporting fake news, along with anyone else who has voiced their issues. I was told this yesterday 08/04 by senior member of staff at the Auction house in Kensington that I cant name when I asked the question if they actually had the funds to pay me and pointed out that there where others that appear to have the same issues as myself. As from that point the not mentioned auction house has advised me that they will be having no further contact with me. They still have my money though.

The exact quote is bellow.

your reference to Internet forums is really rather passé bearing in mind it is now considered an unregulated fake news generator and is entirely discredited.
Why are you bothering with that?
The only way to deal with people like that is to issue proceedings against them.
It’s a straightforward matter of contract.
They will have no defence.
So they will pay.
And if they can’t, once you have judgement, you can wind them up, to stop them doing it to others for a while.

Maranellohouse

163 posts

149 months

Tuesday 9th April
quotequote all
Ferruccio said:
Why are you bothering with that?
The only way to deal with people like that is to issue proceedings against them.
It’s a straightforward matter of contract.
They will have no defence.
So they will pay.
And if they can’t, once you have judgement, you can wind them up, to stop them doing it to others for a while.
I'd love to be able to do that but I'm in Northern Ireland and they are in London and as far as I am aware it works differently plus I haven't the money to take them on because they have it.

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Maranellohouse

163 posts

149 months

Tuesday 9th April
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ThePrincipal said:
Thank you for this. I have read through it and don't fully understand it but I will certainly look into it once I get my head around it.

voicey

2,311 posts

128 months

Wednesday 10th April
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Engage a UK solicitor to act on your behalf - there's probably one on here that could help. If not I can pass you details of the guy who does all my business legals, including commercial litigation.

By not acting you allow companies like this to continue to take the piss with people and further damage the market for companies that act honestly.

Ferruccio

828 posts

60 months

Wednesday 10th April
quotequote all
Maranellohouse said:
Ferruccio said:
Why are you bothering with that?
The only way to deal with people like that is to issue proceedings against them.
It’s a straightforward matter of contract.
They will have no defence.
So they will pay.
And if they can’t, once you have judgement, you can wind them up, to stop them doing it to others for a while.
I'd love to be able to do that but I'm in Northern Ireland and they are in London and as far as I am aware it works differently plus I haven't the money to take them on because they have it.
Issuing proceedings in contract is not complicated and shouldn’t be expensive.
Under a contracted dated........
Car sold.
No funds received despite being chased x times on dates y.
And they would seem to have no defence.
I don’t know but an NI solicitor should be able to issue on the mainland. It’s just straightforward form filling. Or take up Voicey’s offer.

MingtheMerciless

286 posts

150 months

Wednesday 10th April
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If you have much at stake, I think you need to hire a solicitor to get a claim letter off to them ASAP. You can decide if you want to issue proceedings afterwards. The initial outlay will be small. I hired solicitors to get £5,000 back from a garage and got £4,000 and £1,000 for their costs. I'm sure I would have whistled in the wind forever just sending emails and getting phone calls ignored.

Those who shout loudest and create the most fuss get paid off first if a problem is coming. Be one of those people. If the T's and C's state that they hold your money in trust (and not just that they owe you a contract debt), be sure to reflect that point in your demand letter so that any liquidator is on notice. It may not save you but shout early and shoot first if you want your money. I have no idea who you are talking about and am only speaking generically here.

Maranellohouse

163 posts

149 months

Wednesday 10th April
quotequote all
voicey said:
Engage a UK solicitor to act on your behalf - there's probably one on here that could help. If not I can pass you details of the guy who does all my business legals, including commercial litigation.

By not acting you allow companies like this to continue to take the piss with people and further damage the market for companies that act honestly.
If I had the money believe me I wouldnt hesitate.

So

15,525 posts

163 months

Wednesday 10th April
quotequote all
Maranellohouse said:
voicey said:
Engage a UK solicitor to act on your behalf - there's probably one on here that could help. If not I can pass you details of the guy who does all my business legals, including commercial litigation.

By not acting you allow companies like this to continue to take the piss with people and further damage the market for companies that act honestly.
If I had the money believe me I wouldnt hesitate.
I know a chap who might do it on a conditional fee basis. I.e. no win no fee.

indapendentlee

284 posts

40 months

Wednesday 10th April
quotequote all
Maranellohouse said:
Ferruccio said:
Why are you bothering with that?
The only way to deal with people like that is to issue proceedings against them.
It’s a straightforward matter of contract.
They will have no defence.
So they will pay.
And if they can’t, once you have judgement, you can wind them up, to stop them doing it to others for a while.
I'd love to be able to do that but I'm in Northern Ireland and they are in London and as far as I am aware it works differently plus I haven't the money to take them on because they have it.
Sorry to hear you still haven't got your cash maranellohouse - I got the cheque's in the post treatment several times. Depending on which auction house we may or may not be talking about they may or may not be at Essen this week so no point going in as anybody with the ability to actually write you a cheque will be "unavailable".

You could print 5000 flyers out about their practices and fly to Essen and hand them out to auction attendees...

andysv

1,326 posts

168 months

Thursday 11th April
quotequote all
I have sold two classics (not supercars) through Brightwells recently, both hit the target figure and i would say they were marmite cars which would be tricky to sell elsewhere hence choosing the auction route. The company were efficient to deal with and i would use them again without hesitation. Am i allowed to name drop in a good way?! too late it is done and i'm not connected to them in any way.

Maranellohouse

163 posts

149 months

Monday 15th April
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Solicitors letter sent off last Thursday. Now its a waiting game.

What gets me most is the people concerned have fully acknowledged they were at fault on all counts and kept telling me my cheque was being sorted but each time there has been reason after reason given for that not happening! Last week it was that the accountant had to take the cheque to Germany to get the MD to sign it. When I pointed out that things were getting silly now, how hard was it to sign a cheque, put it in an envelope and send it. I did add-libly ask if they had the funds to pay me and that seemed to be the point at which I was told I was abusive and threatening and they would not be having any further contact with me.

Its all very bizarre. If I was them I'd be looking me off their backs as quickly and quietly as possible.

South tdf

687 posts

136 months

Monday 15th April
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From experience I expect a cheque will be issued soon assuming funds have started coming in from last Saturdays sale.

Maranellohouse

163 posts

149 months

Tuesday 16th April
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South tdf said:
From experience I expect a cheque will be issued soon assuming funds have started coming in from last Saturdays sale.
Appreciate you trying to keep up my spirits, thank you.

So

15,525 posts

163 months

Tuesday 16th April
quotequote all
Maranellohouse said:
South tdf said:
From experience I expect a cheque will be issued soon assuming funds have started coming in from last Saturdays sale.
Appreciate you trying to keep up my spirits, thank you.
As far as I can see, if you have a contract and the car has been sold in accordance with it AND THE COMPANY IS SOLVENT I cannot see how they cannot pay you.

Maranellohouse

163 posts

149 months

Thursday 2nd May
quotequote all
I used this company to sell my car at auction and for information purposes I have posted links to the timeline of my dealings help anyone thinking of using them decide if this is the path for them.

http://www.maranellohouse.net/coys.html

http://www.maranellohouse.net/coys2.html

http://www.maranellohouse.net/coys3.html

Links updated for easier reading

Edited by Maranellohouse on Friday 3rd May 10:26

rat rod

12 posts

6 months

Friday 3rd May
quotequote all
very sorry to hear about your problems getting paid for your car,was thinking about auction route after very little interest from classified adverts sounds like this could be a mindfield in it's self,i have been following your plight with interest,i tried email you via the email links above but have been told that your address can not found,it could be me as not to good on the pc,could you please send me page 1 and page 2 if possible,my e mail is dogfightvonclouse@gmail.com, hope you get paid very soon for your car it must be a big worry over your head,