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Would you buy at Auction?
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MikeEdwards



Joined: 25 May 2011
Posts: 2475
Location: South Cheshire

PostPosted: Mon Feb 19, 2024 9:54 am    Post subject: Reply with quote

I like that Espada, but as a watcher of Harry Metcalfe's youtube channel where he describes the various bits of work done on his Espada, I think I'd be too scared to contemplate buying it.

?20k-?30k seems very low even for one that needs some work to be done, and I wonder why the title says "For Hire" on the end of it.
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Ray White



Joined: 02 Dec 2014
Posts: 6328
Location: Derby

PostPosted: Mon Feb 19, 2024 11:10 am    Post subject: Reply with quote

I thought by using two completely different types of car being sold at auction it might highlight the risks involved with buying at auction.

If one bought an Austin or a Morris and found it needed work that it had not been disclosed, it is not the end of the World.

However, history is everything when buying a rare or exotic car and without it the risk for me would be too high; regardless of the sale price.

Incidentally, I have a soft spot for a Maserati Ghibli...but preferably a rare RHD version.

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mikeC



Joined: 31 Jul 2009
Posts: 1776
Location: Market Warsop, Nottinghamshire

PostPosted: Mon Feb 19, 2024 1:13 pm    Post subject: Reply with quote

Rick wrote:


If I was going exotic, it'd be a Maserati 3500 GT, however it's unlikely I need worry too much about buying one.

RJ


I've been down that route and would not recommend it unless you have deep pockets!

Over fifty years ago I looked at my collection of Austin Sevens and thought I could sell them all and get something exotic. So I did! I bought a Maserati 3500GT, and hated it; a beautiful car, exciting performance but I just couldn't afford it. Nothing went wrong with it, and I ended up making a nice little profit, but I hated driving around thinking something's going to break and I won't be able to fix it...
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alastairq



Joined: 14 Oct 2016
Posts: 1955
Location: East Yorkshire

PostPosted: Mon Feb 19, 2024 4:17 pm    Post subject: Reply with quote

Quote:
If one bought an Austin or a Morris and found it needed work that it had not been disclosed, it is not the end of the World.

I agree...auctions [from a respectable auction house, especially]....are probably today's best place for a more ''mundane'' old motor...a Minor , for example.
Something that is easy to get, or keep, running...

I found that the bigger auction houses are mostly going to be interested in making a sale.....Rather than simply pandering to an owner's idea of what they think their vehicle is worth? They really only make decent income if the vehicle attracts bidders. If it is over-priced, and doesn't attract bids then it really is a 'waste' of their time.
One can, if so inclined, rock up to preview an interesting item,, and be as cynical about it as one wishes.
After all, one could simply place a casual pre-bid? One might be surprised [or have an overloaded trailer at the end of it all? ]

Whatever one thinks of auctions in the past, these days many are a different ball game altogether.

Whereas, via ebay [as an example..other market places exist, such as Facebook marketplace?]...if one does the advised preview visit, and one finds the item not worth what is being asked for it, [to you, the intending buyer?] then one has to face the possible derisory attitudes of a vendor who thinks one has merely wasted their time.
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Ray White



Joined: 02 Dec 2014
Posts: 6328
Location: Derby

PostPosted: Mon Feb 19, 2024 10:50 pm    Post subject: Reply with quote

Car dealers are always trying to sniff out a bargain from auction houses and auctioneers, being aware of this, will doubtless give them the 'tip off' should a tasty morsel be coming up for sale.

In the meantime, we mere mortals are just grist to the mill.

Charging commission to both the seller and the buyer has always seemed to me to be a questionable practice; a conflict of interest, surely. ?

.
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bjacko



Joined: 28 Oct 2013
Posts: 364
Location: Melbourne Australia

PostPosted: Tue Feb 20, 2024 6:20 am    Post subject: Auctions Reply with quote

"Whereas, via ebay [as an example..other market places exist, such as Facebook marketplace?]...if one does the advised preview visit, and one finds the item not worth what is being asked for it, [to you, the intending buyer?] then one has to face the possible derisory attitudes of a vendor who thinks one has merely wasted their time"

I think Alastair has it back to front. It's not the buyer who has wasted the sellers time but more likely the buyers time has bee n wasted, because the seller did not mention some fault or other that put the buyer off buying it!
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alastairq



Joined: 14 Oct 2016
Posts: 1955
Location: East Yorkshire

PostPosted: Tue Feb 20, 2024 8:22 am    Post subject: Reply with quote

Quote:
I think Alastair has it back to front. It's not the buyer who has wasted the sellers time but more likely the buyers time has bee n wasted, because the seller did not mention some fault or other that put the buyer off buying it!
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I agree, that is the reality...However, a disappointed potential buyer rarely advertises that fact.

Annoyed vendors, on the other hand, are only too pleased to inform the world at large that their item is being ''relisted'' due to 'time wasters'....
That was what I was alluding to....and is what I find grossly annoying about some adverts. Smile
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MikeEdwards



Joined: 25 May 2011
Posts: 2475
Location: South Cheshire

PostPosted: Tue Feb 20, 2024 9:41 am    Post subject: Reply with quote

alastairq wrote:
I agree, that is the reality...However, a disappointed potential buyer rarely advertises that fact.


With sites like eBay, though, there isn't a way for that to happen. The seller can re-list and say whatever they like, but the person who went to see it and noticed the rolled-up newspaper in the front wing doesn't have a platform to do that.

Where I do see that happen, though, is in places like forums, or Facebook groups for owners clubs. People will happily stick a link to their eBay listing on Facebook, then it'll get shared into a club group and that can be when you'll get the disappointed potential buyer commenting.
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ukdave2002



Joined: 23 Nov 2007
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Location: South Cheshire

PostPosted: Tue Feb 20, 2024 9:47 am    Post subject: Reply with quote

alastairq wrote:
Quote:
I think Alastair has it back to front. It's not the buyer who has wasted the sellers time but more likely the buyers time has bee n wasted, because the seller did not mention some fault or other that put the buyer off buying it!
_________________

I agree, that is the reality...However, a disappointed potential buyer rarely advertises that fact.

Annoyed vendors, on the other hand, are only too pleased to inform the world at large that their item is being ''relisted'' due to 'time wasters'....
That was what I was alluding to....and is what I find grossly annoying about some adverts. Smile

An eBay item is normally "relisted" if it has previously been sold and relisted as the buyer has defaulted on what is actually a legal obligation to purchase.
A buyer is within their rights to reject goods if falsely described, in which case if they had been inconvenienced , they would probably leave negative feedback. If a potential purchaser examines the goods prior to bidding and decides not to progress , that's surely no different to following up an advert in the newsagents window?. This would not normally attract criticism from either party.
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Rootes75



Joined: 30 Apr 2013
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PostPosted: Tue Feb 20, 2024 11:07 am    Post subject: Reply with quote

Ah...ebay selling vehicles. We've done that with moderns and a couple classics in the past. But when we do sell we always advise that people come and view first before bidding, both parties need to be happy with the deal at the end of the day.

I have also bought via ebay and not viewed beforehand, when that is the case I always keep it in my head it probably isn't as good as the advert makes out, its in the vendors interest to 'up' their item isn't it?
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lowdrag



Joined: 10 Apr 2009
Posts: 1585
Location: Le Mans

PostPosted: Tue Feb 20, 2024 12:31 pm    Post subject: Reply with quote

Keith D wrote:
The Bristol does it for me, but then it's a based on a stolen prewar BMW really.

Keith


I wouldn't say "Stolen". More like "War Reparations" I believe.
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Keith D



Joined: 16 Oct 2008
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PostPosted: Tue Feb 20, 2024 2:18 pm    Post subject: Reply with quote

BMW wasn't at war with the UK and the U.S. They were a private company affected like every other company by the war. In my opinion the war reparations were in fact, theft from private companies.

Keith
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alastairq



Joined: 14 Oct 2016
Posts: 1955
Location: East Yorkshire

PostPosted: Tue Feb 20, 2024 2:43 pm    Post subject: Reply with quote

The UK powers -that-were did make the mistake of returning VW to Germany, however?

To the victor, the spoils?
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Ray White



Joined: 02 Dec 2014
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PostPosted: Tue Feb 20, 2024 7:43 pm    Post subject: Reply with quote

Don't shed too many tears for BMW.

https://www.bmwgroup.com/en/company/history/BMW-during-the-era-of-national-socialism.html
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mikeC



Joined: 31 Jul 2009
Posts: 1776
Location: Market Warsop, Nottinghamshire

PostPosted: Tue Feb 20, 2024 7:48 pm    Post subject: Reply with quote

Keith D wrote:
BMW wasn't at war with the UK and the U.S. They were a private company affected like every other company by the war. In my opinion the war reparations were in fact, theft from private companies.

Keith


BMW may have been a private company, but it certainly profited by being one of Germany's leading aircraft engine suppliers. Are suggesting that companies like Messerschmitt and Heinkel were innocent victims of the War?
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Recently departed: 1953 Lancia Appia, 1931 Austin Seven, 1967 Singer Chamois, 1914 Saxon, 1930 Morris Cowley, 1936 BSA Scout, 1958 Lancia Appia coupe, 1922 Star 11.9 ... the list goes on!
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