RE: PistonHeads auctions coming soon!

RE: PistonHeads auctions coming soon!

Tuesday 11th July 2023

PistonHeads auctions coming soon!

It's happening, folks - here's what you need to know


Car enthusiasts have been buying and selling cars on PistonHeads for more than two decades through our classified section - it’s one of the main reasons why so many of us are here. After all, our reputation was partly built on the warm and fuzzy feeling that comes with being able to buy a car that has been properly looked after by a fellow enthusiast. That’s still true today, whether you’re in the market for a shed or a supercar.

Of course, in 25 years, the market has changed wildly. There are more places to buy and sell a car than ever before. Well, we’re changing, too: 2023 will see PistonHeads launch a brand-new auction platform of our own making, one that complements our existing marketplace and the people that help make it unique. 

Our motivation has not changed. We want more people to find and buy their dream car on PistonHeads. To help you do just that, we’ll bring you the very best curated auction listings from across the nation, handpicked by our crack consignment team and available for you to bid on around the clock. 

For anyone with a dream car to sell, PistonHeads auctions will be easy to use and free to list. And don’t worry - you’ll receive 100 per cent of the hammer price. We’ll also help to arrange photography, write a glowing description, and manage your listing from start to finish until your car is sold. Listings will be promoted on the UK’s number one premium and performance marketplace for seven days before your auction goes live, followed by seven days of frenzied bidding. So contact our consignment team today to discuss an estimate for your car.

Potential buyers will be able to arrange viewings and ask probing questions in a Q&A section on each listing. A six per cent (plus VAT) buyer’s premium will be charged on top of the winning bid, so please bear that in mind when you’re crunching numbers. We’ll then put you in touch with the seller so you can arrange collection of your new pride and joy. 

When is all this happening, you ask? Well, rest assured there isn’t long to wait now. We’ll be announcing further details at our 25th Anniversary Party at Bicester Heritage on August 12th. If you'd like to play an integral part in PistonHeads history, you can contact the consignment team to discuss how we can help sell your car today.


Author
Discussion

WCZ

Original Poster:

11,039 posts

208 months

Monday 10th July 2023
quotequote all
fair

ChrisCh86

1,028 posts

58 months

Monday 10th July 2023
quotequote all
The UK version of cars and bids?

Or Bring a Trailer?

smithyithy

7,636 posts

132 months

Monday 10th July 2023
quotequote all
ChrisCh86 said:
The UK version of cars and bids?

Or Bring a Trailer?
Collecting Cars?

Mitch87

12 posts

108 months

Monday 10th July 2023
quotequote all
Behold... Auctions.

jason61c

5,978 posts

188 months

Monday 10th July 2023
quotequote all
can you make it so the buyer has 1% more protection than collecting cars?

That only means the buyer has 1% protection also.

murphyaj

917 posts

89 months

Monday 10th July 2023
quotequote all
"A six per cent (plus VAT) buyer’s premium will be charged on top of the winning bid"

So functionally the same service provided by eBay but for six times the price.
Nice work if you can get it.

eltax91

10,277 posts

220 months

Monday 10th July 2023
quotequote all
murphyaj said:
"A six per cent (plus VAT) buyer’s premium will be charged on top of the winning bid"

So functionally the same service provided by eBay but for six times the price.
Nice work if you can get it.
The seller pays the fee on eBay, not the buyer....

murphyaj

917 posts

89 months

Monday 10th July 2023
quotequote all
eltax91 said:
murphyaj said:
"A six per cent (plus VAT) buyer’s premium will be charged on top of the winning bid"

So functionally the same service provided by eBay but for six times the price.
Nice work if you can get it.
The seller pays the fee on eBay, not the buyer....
Two sides of the same coin. Either the seller pays, or the buyer pays and factors it into their bid. Either way they are getting 6 times as much money for providing essentially the same service.


A500leroy

6,606 posts

132 months

Monday 10th July 2023
quotequote all
Why not split it 3% each?

Cant see buyers fee working.

Dupree308

10 posts

23 months

Monday 10th July 2023
quotequote all
Nice one guys... but you know there's already... Collecting Cars... The Market... Trade Classics... Car and Classic... and a LOAD of smaller ones like Evoke.
Sorry to say but this is nothing new and same charging model too. Let's hope your reviews aren't as bad as Collecting Cars! But wish you all the luck

jaycee

11 posts

274 months

Monday 10th July 2023
quotequote all
ruinous (& potentially divorce triggering) late-night viewing, especially after a few...

murphyaj

917 posts

89 months

Monday 10th July 2023
quotequote all
A500leroy said:
Why not split it 3% each?

Cant see buyers fee working.
it works for collecting cars, but I've never understood why.
sell a 30 grand car through Autotrader they want betweem £36 and £74.
same car through pistonheads it's £39.99
eBay auction £59.99
Pistonheads Auction £2160.00

they are a private company who can charge what they like, but the cut all these online auction places taking just seems astonishing to me.

smithyithy

7,636 posts

132 months

Monday 10th July 2023
quotequote all
Indeed they're free to choose their own fee model, but you have to think that a flat % rate is very greedy...

£600 on a £10k car, £6000 on a £100k car...

Does the more expensive car cost £5400 more computing power to sell?

TREMAiNE

4,073 posts

163 months

Monday 10th July 2023
quotequote all
murphyaj said:
A500leroy said:
Why not split it 3% each?

Can't see buyer's fee working.
it works for collecting cars, but I've never understood why.
Because you can genuinely get something for a good price even with the buyer's fee.

I bought my Morgan off of Collecting Cars last year, and even with the buyer's fee I paid around £8,000 less than the equivalent spec car was going for in the classifieds.

Back in May, the same model with better specs sold on Collecting Cars for over £15k less than it'd have been listed for on the usual classified ads.
Well worth the buyer's fee!

stavr0ss

247 posts

142 months

Monday 10th July 2023
quotequote all
Collecting cars is basically trading on Chris Harris’ friendly face by cleverly using ‘on cars’ and more recently ‘minted geezers chat motors’ podcast as placement products. I’d love to know how the market share is at the moment but CC seem muscled a significant chunk of the Porsche market for instance, and I swear this is mainly down to Harris being attached to it.
They have their own criteria for what makes a car ‘collectible’
So PH launching a seemingly identical feature on their existing platform might find a gap for more workaday machinery if they set the buyer fee lower, but who’s going to want to pay an extra 6% for a mondeo ST that could easily be sourced from Facebook?

sixor8

6,924 posts

282 months

Monday 10th July 2023
quotequote all
Dupree308 said:
Nice one guys... but you know there's already... Collecting Cars... The Market... Trade Classics... Car and Classic... and a LOAD of smaller ones like Evoke.
Sorry to say but this is nothing new and same charging model too. Let's hope your reviews aren't as bad as Collecting Cars! But wish you all the luck
I think you've got all the ones I've bookmarked there! smile

Some charge buyers a fee though, some, a fee to the seller, and hopefully they'll stick to UK listings. Collection Cars is stuffed full of cars in other countries these days, UK buyers and sellers wanting to use their services now thin on the ground...scratchchin

supacool1

675 posts

193 months

Monday 10th July 2023
quotequote all
TREMAiNE said:
Because you can genuinely get something for a good price even with the buyer's fee.

I bought my Morgan off of Collecting Cars last year, and even with the buyer's fee I paid around £8,000 less than the equivalent spec car was going for in the classifieds.

Back in May, the same model with better specs sold on Collecting Cars for over £15k less than it'd have been listed for on the usual classified ads.
Well worth the buyer's fee!
Reading some of the reviews on CC it's probably due to them pressuring the seller to lower their reserve to get a sale....so they get their sale comission...

TREMAiNE

4,073 posts

163 months

Monday 10th July 2023
quotequote all
supacool1 said:
TREMAiNE said:
Because you can genuinely get something for a good price even with the buyer's fee.

I bought my Morgan off of Collecting Cars last year, and even with the buyer's fee I paid around £8,000 less than the equivalent spec car was going for in the classifieds.

Back in May, the same model with better specs sold on Collecting Cars for over £15k less than it'd have been listed for on the usual classified ads.
Well worth the buyer's fee!
Reading some of the reviews on CC it's probably due to them pressuring the seller to lower their reserve to get a sale....so they get their sale comission...
Quite possibly true - my car had a reserve that was about 3k higher than I ended up paying, but CC did contact the seller to push him to remove the reserve, which he did.

Maybe a bit naughty but equally you could argue it helps combat some of the overpriced cars we're seeing.
My model in particular, might be listed for £5k-£8k more on a dealer's forecourt, but those higher-priced cars aren't selling. They've sat for months (some for over a year), with no price reductions at all, so you could probably argue the reserve was too high in the first place.

Edited by TREMAiNE on Monday 10th July 14:32

deggles

660 posts

216 months

Monday 10th July 2023
quotequote all
murphyaj said:
A500leroy said:
Why not split it 3% each?

Cant see buyers fee working.
it works for collecting cars, but I've never understood why.
sell a 30 grand car through Autotrader they want betweem £36 and £74.
same car through pistonheads it's £39.99
eBay auction £59.99
Pistonheads Auction £2160.00

they are a private company who can charge what they like, but the cut all these online auction places taking just seems astonishing to me.
Yeah, this is what I don't get about this 'auction' model. Unless I'm missing something. You pay thousands for what amounts to an introduction. The buyer's premium is paid out to the platform separately and then the two parties basically continue offline as a private sale, with all the associated risks.

itcaptainslow

4,057 posts

150 months

Monday 10th July 2023
quotequote all
supacool1 said:
TREMAiNE said:
Because you can genuinely get something for a good price even with the buyer's fee.

I bought my Morgan off of Collecting Cars last year, and even with the buyer's fee I paid around £8,000 less than the equivalent spec car was going for in the classifieds.

Back in May, the same model with better specs sold on Collecting Cars for over £15k less than it'd have been listed for on the usual classified ads.
Well worth the buyer's fee!
Reading some of the reviews on CC it's probably due to them pressuring the seller to lower their reserve to get a sale....so they get their sale comission...
Yup - you get pressure at the beginning to go “No reserve”, then it really ramps up toward the end of the auction.

I caved in, and fortunately the car went for decent money (so I guess you could argue their patter of “It encourages the sale” is true in my instance), but I can very much see how others would get burnt.

Not sure what the PH Auctions USP will be in what is already quite a crowded marketplace now. Certainly not the fees!