The Car Auction

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NewcastleFalcon
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Re: The Car Auction

Post by NewcastleFalcon »

Just looked up Brightwells add-ons for buyers at their Classic Car Auctions.


£5,000 Hammer Price
£600 Buyers Premium 10% Plus VAT (yes 12% to you and me)

plus £168 (3% Surcharge if you choose to pay by credit card)

Bidding on-line attracts an additional charge of 1% plus VAT of the hammer price (£64 in this example)

To make it worthwhile buying at auction, the price plus the addons for what you get, has got to be a margin lower than what you could buy a similar car for through other channels, bearing in mind the Auction viewing/test driving/inspection process is extremely limited and most definitely lots are sold as seen with zero comeback after the event.

I have my doubts as to whether this is the case on some of the vehicles I am interested in. They would have to come in at or under the lower of the estimate range published to be anywhere near. Then again I've only been to one as a serious buyer, and came away sticking to my "limit" but without the car.

Regards Neil

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NewcastleFalcon
Posts: 12653
Joined: 25 Feb 2009, 11:40
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Re: The Car Auction

Post by NewcastleFalcon »

Revive a thread day.....
NewcastleFalcon wrote:
19 Jun 2017, 19:10
Can anyone entertain us with their own Car Auction tales?

After doing a bit of investigate following this spot and assuming it was a trade-in heading for an auction, I have now registered at BCA for a bit of amusement.

Put in a search for "electric" to see what was available coming off lease etc. There had been 3 or 4 Peugeot Ions at a BCA Edinburgh sale in June posted up on Speak-EV. Nothing at Newcastle on that search but I may follow this little hybrid through just for amusement. If the car trade is to make any money on this trade-in its got to be under £1000 selling price surely....we'll see.
So the information on this car is
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Grade 4
Regards Neil