456 at Coys Autosport auction
Discussion
The car at yesterdays Autosport auction didn't make reserve at £22,000!! 46,000 miles, looked good, but wasn't an 'M' and had an unusal interior (light grey on top on burgundy)...as well as a very odd number plate - L3 FAG!
Been up with Hagley for £29,995 forever, I'm amazed the reserve was higher than £22k - the cars just aren't selling.
Been up with Hagley for £29,995 forever, I'm amazed the reserve was higher than £22k - the cars just aren't selling.
Thing is with these cars. They are colour and spec sensitive. An early car in silver with an auto box and a bad interior is going to have to be cheaper. People would rather pay more and have te colour and spec they want.
Edited by JasonSF on Sunday 15th January 16:52
Edited by JasonSF on Sunday 15th January 16:53
alsaautomotive said:
IIRC that car was bid to 19k at Brightwells in September, looked tired IMHO.
Cheers, Al.
It was the same car. They also had a Tamora at Brightwells which had an equally high reserve. I went to look at the 456 in Hagley and thought if nothing else it needs a retrim. The interior is unique. Or just horrid imho!!Cheers, Al.
W111AAM said:
It was the same car. They also had a Tamora at Brightwells which had an equally high reserve. I went to look at the 456 in Hagley and thought if nothing else it needs a retrim. The interior is unique. Or just horrid imho!!
Well, that light grey is certainly an acquired taste! Difficult to retrim though -would need a new wheel etcJasonSF said:
That's the thing with the 456. It's easy to get a bad car and spend fortunes making it good. If the paint is not great either sounds like 20k.
I dont see how a respray is 20k, it's just a car and the paint is just paint, unless your paying huge sums to a ferrari main dealer, who's charging you vastly inflated "ferrari prices" i cant see why it would be that expensiveI'm pretty sure you can find a reputable non ferrari paint shop to do it for far less
peter450 said:
I dont see how a respray is 20k, it's just a car and the paint is just paint, unless your paying huge sums to a ferrari main dealer, who's charging you vastly inflated "ferrari prices" i cant see why it would be that expensive
I'm pretty sure you can find a reputable non ferrari paint shop to do it for far less
I'm not sure but think he means that if it has bad paint, 20k seems the valuation for the car. If not, then I totally agree £20k for a paint job is too much, I know a Ferrari specialist who does a respray for 5k, and that is a premium imho.I'm pretty sure you can find a reputable non ferrari paint shop to do it for far less
The fact the car didn’t make reserve doesn’t surprise me. The paintwork and interior is only part of the story. The mechanics of a 456 could hide a 20-30k repair, and anyone who buys one at an auction where the first statement in the catalogue is that everything is sold as a 'collector's item' rather than a form of transport, needs to be prepared for those sorts of bills.
The door seals on this one were worn, but the car was a +/-50k mileage '98 car, so that might be expected? I also noted the windows were down on this car and none of the others - possibly an indicator that they don’t seal properly? I also noted that the passenger door didn’t fit properly at the bottom.
The light grey of the upper interior was a little nasty, but the burgundy leather seats are a great colour and their condition was pretty good - certainly not needing re-trimmed.
All in all, when a replacement auto gearbox is 10k, and the only way to figure out if it works is to drive it, auction prices for these cars are going to be 10-15k less than independent dealer prices. That makes a 456 at auction a 20k car at best. Anyone offering to pay over 22k is taking a gamble that the car is a good 'un rather than spending the additional 10k to ensure it is.
Might be wrong, but that's the way I see all 456s at auction. Not being negative, because I seriously think they are beautiful cars and am doing homework in preparation for buying one myself.
The door seals on this one were worn, but the car was a +/-50k mileage '98 car, so that might be expected? I also noted the windows were down on this car and none of the others - possibly an indicator that they don’t seal properly? I also noted that the passenger door didn’t fit properly at the bottom.
The light grey of the upper interior was a little nasty, but the burgundy leather seats are a great colour and their condition was pretty good - certainly not needing re-trimmed.
All in all, when a replacement auto gearbox is 10k, and the only way to figure out if it works is to drive it, auction prices for these cars are going to be 10-15k less than independent dealer prices. That makes a 456 at auction a 20k car at best. Anyone offering to pay over 22k is taking a gamble that the car is a good 'un rather than spending the additional 10k to ensure it is.
Might be wrong, but that's the way I see all 456s at auction. Not being negative, because I seriously think they are beautiful cars and am doing homework in preparation for buying one myself.
chrisblades said:
All in all, when a replacement auto gearbox is 10k, and the only way to figure out if it works is to drive it, auction prices for these cars are going to be 10-15k less than independent dealer prices. That makes a 456 at auction a 20k car at best. Anyone offering to pay over 22k is taking a gamble that the car is a good 'un rather than spending the additional 10k to ensure it is.
Exactly, which is why I thought setting the reserve higher than £22k was a bit greedy - that was the reasoning behind my surprise. I thought the hammer price would be £19k max - and if it was, I would have bought it. Include 18% for premium+VAT and £22k is almost retail money - and you haven't had the chance to drive it etc.hehehe. Yes I meant the car sounds like it's worth around 20k. Not 20k to paint! Even if you spent 10k making it mint, it's still a pre M car in silver with an auto box and burgundy seats. There are lovely M cars that need nothing in the mid 30s. I spent over £2k getting the drivers window perfect on my 456. If things have been let go these cars can really run away cost wise.
bqf said:
Exactly, which is why I thought setting the reserve higher than £22k was a bit greedy - that was the reasoning behind my surprise. I thought the hammer price would be £19k max - and if it was, I would have bought it. Include 18% for premium+VAT and £22k is almost retail money - and you haven't had the chance to drive it etc.
I would think the reserve was set to ensure Hagley's got what they paid for it, and that was totally unrelated to what it could realistically be expected to fetch. Remember, if they'd set the reserve at 19k, and let's say a 10% commission to Coys, Hagley's walk away with 17k. Presuming they took the car as a trade-in, they'd surely have paid a lot more than that. All in all, I agree 19k would have been a realistic auction price, but I don't think the 456 is a realistic auction car, until they reach Dino values which is an entirely different thread....!
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