Chimaera auction flip - P904 CAY

[V8fan]

No, not the red one on ebay, of which there is already a lengthy thread.

This one at King's Lynn on 25th Jan:

https://angliacarauctions.co.uk/classic/saturday-2...

A search of the registration reveals it sold at Bonhams on 29/11/19 for £6975:

https://www.bonhams.com/auctions/25825/lot/22/

Seems cheap but an MoT check shows the mileage barely moving in 10 years between 2007 and 2017, even up 500 miles and back again. So unknown usage really. Neither show the engine bay so presumably no pas. But at least we know the paintwork at the rear hasn't recently been done, as illustrated by the TMS sticker. They became PPC back in 2005 ish I think!

Under 6 weeks between purchase at 1 auction and in a catalogue elsewhere suggests (perhaps) a trader after a quick small profit or (more likely) a buyer discovering something else...

That ACA auction has at least 4 other cars that 'sold' at the CCA auction in December and were listed in their online catalogue for this month within 4 weeks.

Edited by V8fan on Tuesday 7th January 09:54

[GR_TVR]

Last V5 was issued 14/05/2017 and is currently untaxed so suggests it was bought by a trader.

MOT looks like the classic stuck odometer history, having been stuck on 20k for at least 10 years.
Suspect the new owner in 2017 got that working again.

[GinG15]

if the car is also in similar shape underneath than the pics from outside and interior are shwoing than it was a Bargain for 6.9k

this said....why its now NOT advertized / auctioned for 10-12k? means: it cannot be so good, maybe with some hidden defects (chassis?) or the mileage is higher than expected. who knows?

Edited by GinG15 on Monday 13th January 20:36

[V8fan]

Car sold on Saturday for £9k + 6% buyers premium = £9540. I wonder if the top bidder realises it had a frozen odometer for many years?...…

https://angliacarauctions.co.uk/classic/saturday-2...

For some reason, most auction houses don't include the VAT on the buyers premium. When I was at the Leamington CCA auction in December, they announced that the buyer's premium is a service charge and so registered traders cannot claim the VAT back. Perhaps this auction is different?

Anyway, if it had been me or your average private buyer, the full price paid was £9648, and then it has to be collected.

Incidentally, all 4 cars that I mentioned had been bought at CCA and relisted here a month later went at a loss. Lot 57, the Triumph Stag was the biggest. It sold for £19,800 in December at CCA, it went here for £14k. I do like a bit of schadenfreude.

Edited by V8fan on Wednesday 29th January 13:28