Collecting Cars auction results

Collecting Cars auction results

Author
Discussion

DeuceDeuce

Original Poster:

155 posts

50 months

Wednesday 15th April
quotequote all
Ferrari California T
5,400 miles - 2016
UNSOLD @ £88,500 (plus 6% buyer fee)

Ferrari FF
19,000 miles - 2015
SOLD £90,750 (plus 6% buyer fee)


jsc15

981 posts

166 months

Wednesday 15th April
quotequote all
Cali T is now on "Buy Now" for £97.5k

Not sure if the 6% buyers premium is factored into this (full or even partially)

Legacywr

8,348 posts

146 months

Wednesday 15th April
quotequote all
Do you have a link to this auction?

jsc15

981 posts

166 months

Wednesday 15th April
quotequote all
Legacywr said:
Do you have a link to this auction?
The auction vanishes if it misses reserve, but the "Buy Now" is on site now (don't think links would be allowed)

21ATS

174 posts

30 months

Wednesday 15th April
quotequote all
What is the status of a trader selling on Collecting Cars?

It's interesting that each listing is clearly stated as private or trade and the auction nature of the site would suggest you're buying at an auction. But it's not entirely clear what the status of the sale is for the end user. Is it a sold as seen no comback scenario like a B&M hammer down auction or is it simply considered an advertising medium like eBay or Autotrader?

It crossed my mind this week when I noticed KHPC (previously The Ferrari Centre) listing cars as a "trade" seller. (Seller name Roger C).

In that case are you buying from auction or are you buying from KHPC, as collecting cars doesn't handle the financial transaction - they just take commission and the bid is dealt with between parties privately outside of the platform.

So if you're buying from a private seller it's the usual no comeback caveat emptor - but what about buying from a trade seller?


DeuceDeuce

Original Poster:

155 posts

50 months

Thursday 16th April
quotequote all
Legacywr said:
Do you have a link to this auction?
https://collectingcars.com/

Register, then ‘Watch’ all the cars you’re interested in, and then bid on the ones you want.

Roof down

250 posts

84 months

Thursday 16th April
quotequote all
DeuceDeuce said:
Ferrari California T
5,400 miles - 2016
UNSOLD @ £88,500 (plus 6% buyer fee)

Ferrari FF
19,000 miles - 2015
SOLD £90,750 (plus 6% buyer fee)
So one has to ask with over 100 or so for sale, just what are Cali T worth, unless the man says yes nothing’s worth anything .
Would 60k buy it? I suspect it just might, what with known transmission problems etc .


johnnyreggae

2,492 posts

118 months

Thursday 16th April
quotequote all
[quote=Roof down]known transmission problems etc .[quote]

Do you have any evidence other than early non-T ?

MDL111

4,871 posts

135 months

Thursday 16th April
quotequote all
johnnyreggae said:
Roof down]known transmission problems etc .[quote said:
Do you have any evidence other than early non-T ?
Never spent time researching Calis, but I thought the transmission issue was mostly an early FF issue due to first V12 application (mine already had gearbox leaks/issues or some such fixed on 2 occasions - for once an item the Ferrari warranty covered as opposed to every other thing that breaks regularly)

Drclarke

986 posts

131 months

Thursday 16th April
quotequote all
I have been looking at the Collecting Cars site, there is nothing that interests me for sale at the moment. But it struck me.

You are paying six percent from nothing more than them hosting your advert on their website, they try and say no fees for sellers. But you are losing 6% of your total sale price as buyers will factor this in when bidding for nothing more than Autotrader do for £20!!

Buyers, you are paying six percent for buggerall. Private sales, sold as seen!

What a business model, I bet the people behind it can’t believe that they are getting away with it and laughing at their users all the way to the bank!


PS2018

297 posts

31 months

Thursday 16th April
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i agree the 6% is high, think they write the description for you? and host 100-200 photos, but yes, if autotrader enabled eg 100 photos to be uploaded rather than is it 20 maximum or so? then they could copy their business model to some extent. not sure youd need 100 photos of a £1k ford fiesta but you get my point.
as for the transactions so far, to the point made by 21ATS above, it looks to me, from where a handful of cars have subsequently appeared again, that traders are both buying and selling on the platform.

Calculator

698 posts

173 months

Thursday 16th April
quotequote all
I like the concept but the fees are too high.

cayman-black

9,659 posts

174 months

Thursday 16th April
quotequote all
Drclarke said:
I have been looking at the Collecting Cars site, there is nothing that interests me for sale at the moment. But it struck me.

You are paying six percent from nothing more than them hosting your advert on their website, they try and say no fees for sellers. But you are losing 6% of your total sale price as buyers will factor this in when bidding for nothing more than Autotrader do for £20!!

Buyers, you are paying six percent for buggerall. Private sales, sold as seen!

What a business model, I bet the people behind it can’t believe that they are getting away with it and laughing at their users all the way to the bank!
Absolutely ! California is very pricey right now.

Trevor555

2,082 posts

42 months

Thursday 16th April
quotequote all
Other auctions charge their fees, BCA, Manheim etc..

But they guarantee you title to the car or your money back.

This site is merely connecting you with a seller and not giving any guarantees of any sort?

If that's how it is then 6% is too high.

johnnyreggae

2,492 posts

118 months

Thursday 16th April
quotequote all
Surely BCA Manheim etc are trade only so the 6 % should be compared with other public auctions none of whom at a guess guarantee title either as far as I know but do charge from 10-20 %

Drclarke

986 posts

131 months

Thursday 16th April
quotequote all
At least the auction houses have premises and have the cars all together for you to view and inspect.

The Collecting Cars gents are just hosting a website for you to advertise or buy from on for a few thousand pounds! No warranty, no friendly coffee, no eye pleasing receptionist, no where yo take your car back to when it develops a problem or turns out that the car didn’t strictly belong to the seller.


p4cks

4,737 posts

157 months

Thursday 16th April
quotequote all
It's actually not a bad idea, and it's certainly something different than trawling through knackers on eBay and the like.


Cheib

19,343 posts

133 months

Thursday 16th April
quotequote all
21ATS said:
What is the status of a trader selling on Collecting Cars?

It's interesting that each listing is clearly stated as private or trade and the auction nature of the site would suggest you're buying at an auction. But it's not entirely clear what the status of the sale is for the end user. Is it a sold as seen no comback scenario like a B&M hammer down auction or is it simply considered an advertising medium like eBay or Autotrader?

It crossed my mind this week when I noticed KHPC (previously The Ferrari Centre) listing cars as a "trade" seller. (Seller name Roger C).

In that case are you buying from auction or are you buying from KHPC, as collecting cars doesn't handle the financial transaction - they just take commission and the bid is dealt with between parties privately outside of the platform.

So if you're buying from a private seller it's the usual no comeback caveat emptor - but what about buying from a trade seller?
I hadn’t realised Trade were selling on there too...I was thinking they suddenly seem to have a lot of cars coming up for sale. Interesting with some cars like the Brown 911 you can see it on the dealers website still.

For a trade buyer I can see the attraction despite what people say about BCA etc. I think they will get better prices as I would think the buyers are almost always private judging by some of the prices achieved so will be higher than a BCA auction I would think. The brown 911 above is not a car that would do well at auction so it’s probably the best exit for a car that has been around a long time.

Mustang Baz

1,598 posts

192 months

Thursday 16th April
quotequote all
Interesting article in Evo on this website which does provide additional insight as to the "value-add" the site does add.

Side point - 7 mins to go on this Nomad! https://collectingcars.com/for-sale/2016-ariel-nom...



AyBee

9,169 posts

160 months

Thursday 16th April
quotequote all
That FF was lovely. Just goes to show what market for them is right now. Cheapest 2015 FF on PH is £120k. Yes, there are the obvious buying from the trade benefits on PH, but I doubt that's worth £24k!