Collecting Cars auction results

Collecting Cars auction results

Author
Discussion

GT4RS

2,482 posts

155 months

Tuesday 13th October
quotequote all
Cheib said:
Have to say I don’t think the eBay comparison is a good one. The big difference there is people leave feedback on seller and you can see their past history so it is in the sellers interest to declare everything “warts and all”.
I spoke with collecting cars when I considered selling a classic car I own. The person I spoke was very easy to deal with and was spoke about the private sale process. Mentioned you or they could take the photos, but you would need to provide them with information to allow them to write the advert which you then proof read before going live.

The part I didn’t like was you where left to deal with the buyer once the auction had ended, it appears to me the buyers card would debited at the end of the auction and they then was their heads with it. With this in mind I felt 6% was expensive as any normal
buyer would Just deduct this figure from there bids and stop bidding below private sell market value.

If they took control of the final sale process I would understand the 6% fees, but in my opinion you are just reducing your car by 6% to host it on their website.


bigmowley

822 posts

134 months

Tuesday 13th October
quotequote all
Just out of interest how does the fee being deducted from your credit card sit with section 75 protection? Obviously the max fee Is £6K so well inside the £30K limit.
Let’s say you are the winning bidder but on finalizing the deal something is not acceptable and you withdraw from the deal. Can you claim the fee back via section 75?
Just a thought.

SFTWend

211 posts

33 months

Tuesday 13th October
quotequote all
birdcage said:
I would be delighted if CC was more like The Market.

I bought a reasonably expensive car from The Market and I liked:

Their description was spot on and detailed

They have an estimated sale price

Car was at their headquarters, I didn't view it I had it collected and delivered to me, they only released it once proof of payment at both ends

No buyer fees

More passion for the job

They test the cars

I would happily buy from CC if they had the above. They are a glorified Ebay.
That's good feedback and great to hear they are as honest and transparent as they appear. I've bid on a couple of their cars and will continue to do so.

I hope they prosper and grow. I guess they could set up more locations and offer more than just classics to broaden their market.

Bobo W

651 posts

210 months

Tuesday 13th October
quotequote all
GT4RS said:
Cheib said:
Have to say I don’t think the eBay comparison is a good one. The big difference there is people leave feedback on seller and you can see their past history so it is in the sellers interest to declare everything “warts and all”.
I spoke with collecting cars when I considered selling a classic car I own. The person I spoke was very easy to deal with and was spoke about the private sale process. Mentioned you or they could take the photos, but you would need to provide them with information to allow them to write the advert which you then proof read before going live.

The part I didn’t like was you where left to deal with the buyer once the auction had ended, it appears to me the buyers card would debited at the end of the auction and they then was their heads with it. With this in mind I felt 6% was expensive as any normal
buyer would Just deduct this figure from there bids and stop bidding below private sell market value.

If they took control of the final sale process I would understand the 6% fees, but in my opinion you are just reducing your car by 6% to host it on their website.
CC is an auction platform that facilitates a private sale - so yes it's left to buyer and seller to conclude the deal - some would say that's preferable to the Coys model

Why CC or The Market - the traffic they're generating in terms of views is the key attraction especially if it's a rare model of car which you won't get for traditional classifieds or eBay - also with market the way it is the auction model seems to be delivering punchy prices

bish_345

67 posts

28 months

Wednesday 14th October
quotequote all
CC is nowhere near as transparent as BaT. It would have more credibility if it were.

CC's 6% fee is arguably high for the limited "service" they provide (plus the question marks over who has legal comeback against whom). Presumably as similar sites try to gain a foothold in the market commercial pressures may impact the level of fees and/or the law will eventually catch up with current commercial practices and legislation or a court case will clarify the legal technicalities. Having said that, the fact that CC's fee is capped rather than a flat rate across the board is attractive when compared with a traditional auction house fee structure once you are dealing with more expensive cars.

But at the end of the day it's currently caveat emptor and no one is forcing people to buy or sell through CC. Having said that, notwithstanding that it may seem like the wild west at the moment to some people, it wouldn't stop me buying the right car at what I considered to be the right price. For example, the recent RHD Maserati Sebring Series I. The listing was very detailed, the specialists involved in the car's history are well known and you won't find another one for sale (less than 10 exist). Someone bought it for 48,000 pounds less (including accounting for the CC fee) than it was contemporaneously being advertised for on Jeremy Cottingham's website. If I had the funds, and fancied a Sebring, I would have had no reservations about buying it through the CC platform at the price it went for.

cayman-black

9,668 posts

174 months

Wednesday 14th October
quotequote all
I thought the market has a buyers fee of 5% plus vat? Whereas CC the seller pays the 6% .

JaseB

706 posts

219 months

Wednesday 14th October
quotequote all
https://themarket.co.uk/how-it-works

No buyers fee
5% +VAT sellers fee
thumbup

Oaky

41 posts

130 months

Wednesday 14th October
quotequote all
bish_345 said:
...For example, the recent RHD Maserati Sebring Series I. The listing was very detailed, the specialists involved in the car's history are well known and you won't find another one for sale (less than 10 exist). Someone bought it for 48,000 pounds less (including accounting for the CC fee) than it was contemporaneously being advertised for on Jeremy Cottingham's website. If I had the funds, and fancied a Sebring, I would have had no reservations about buying it through the CC platform at the price it went for.
Still being advertised there.

GT4RS

2,482 posts

155 months

Wednesday 14th October
quotequote all
Interesting to see the 996 gt3rs from jersey back on CC

https://collectingcars.com/for-sale/2003-porsche-9...

It struggled last time on the bidding be interesting to see when the reserve gets lifted.


claudereff

62 posts

67 months

Wednesday 14th October
quotequote all
Very good thread this, some excellent posts and observations

21ATS

186 posts

30 months

Wednesday 14th October
quotequote all
GT4RS said:
Interesting to see the 996 gt3rs from jersey back on CC

https://collectingcars.com/for-sale/2003-porsche-9...

It struggled last time on the bidding be interesting to see when the reserve gets lifted.
Coming from the CI there's a small chance there's a VAT liability on that car should it come back to the mainland.

ferrisbueller

24,994 posts

185 months

Wednesday 14th October
quotequote all
21ATS said:
GT4RS said:
Interesting to see the 996 gt3rs from jersey back on CC

https://collectingcars.com/for-sale/2003-porsche-9...

It struggled last time on the bidding be interesting to see when the reserve gets lifted.
Coming from the CI there's a small chance there's a VAT liability on that car should it come back to the mainland.
First registered here and with an MOT history here, also.

JaseB

706 posts

219 months

Thursday 15th October
quotequote all
I see it's selling without having a 'new' MOT, last one in June last year, appreciating there's the extentsion in place until December, that seems a bit short sighted of the seller?!

cayman-black

9,668 posts

174 months

Thursday 15th October
quotequote all
JaseB said:
https://themarket.co.uk/how-it-works

No buyers fee
5% +VAT sellers fee
thumbup
Thanks, JaseB, i was wrong.

cayman-black

9,668 posts

174 months

Thursday 15th October
quotequote all
GT4RS said:
Interesting to see the 996 gt3rs from jersey back on CC

https://collectingcars.com/for-sale/2003-porsche-9...

It struggled last time on the bidding be interesting to see when the reserve gets lifted.
Hmm , no AC and a few miles, lets see.

9Elfer

47 posts

52 months

Thursday 15th October
quotequote all

would think the fact that it’s in jersey and difficult to arrange an inspection etc would mean it should trade close to a dealer purchase price? Have seen a few higher mileage 996gt3rs go for sub 100k and I think this one would too..

Leftfootwonder

438 posts

16 months

PM3

63 posts

18 months

Thursday 15th October
quotequote all
last one sold went to 434K in July https://collectingcars.com/for-sale/1973-porsche-9... maybe the bidder lost out and didnt want to F around with all the nonsesnse stepping up bids ...if that the percieved genuine worth. Makes sense and it will have a very heavy reserve on it anyway. likely around the 400

Drclarke

989 posts

131 months

Thursday 15th October
quotequote all
Leftfootwonder said:
Something stinks there!

9Elfer

47 posts

52 months

Thursday 15th October
quotequote all
PM3 said:
last one sold went to 434K in July https://collectingcars.com/for-sale/1973-porsche-9... maybe the bidder lost out and didnt want to F around with all the nonsesnse stepping up bids ...if that the percieved genuine worth. Makes sense and it will have a very heavy reserve on it anyway. likely around the 400
Rhd different market from lhd, usually think 50-100k more, rhd 997 4.0RS is also worth 100-150k more than lhd. the last lhd car at silverstone auctions was bid to £350k only.. no sale.

also note the car is one of ICs inventory and being sold as ‘managed’ rather than trade/dealer.

Edited by 9Elfer on Saturday 17th October 18:34