Buying at auction

gchild

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Looking at the bca catalogue, looks like there are a few low mileage nice looking motors going down the auction route. Anyone have experience of buying at the auctions? I assume there are pitfalls? Why would a dealer go own this route as opposed to sell on the forecourt?
 

MarkJunedd

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Most dealers generally buy through auctions not sell. Normally the cars at auction will be ex lease or contract vehicles so will mostly have full history etc. A dealer will normally only put a vehicle through auction if its a part ex of unkown or sketchy history or if its to old or not to standard of their forecourt sales. A few years ago I bought an XJS Jag through auction which had been part ex'd into the main Jag dealer for an XK8. I later found out that the only reason it was sent there was because it was not modern enough to put on the forecourt. Car was faultless and immaculate and I had it for 3 yrs without issue.
 

Druk

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I bought our 211 at auction in 2006 when it was just out of warranty. This was in Nov and bidding didn't reach reserve. The car was ex-lease and I got hold of the lease manager after and negotiated a price £1500 under their reserve on the basis that the next (Luxury Car) sale was in Jan and by which time the price will have dropped by that anyway. Remember, on top of any winning bid price there has to be added the auctioneers buyer indemnity premium. On a £15.000 car this can add quite a lot to the final price. Having said that I reckon I still saved upwards of £7 to £8000 on forecourt prices.

And the car's been fantastic. In 5yrs it's had hardly anything done to it other than regular servicing. TOUCH WOOD.




.
 
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Dieselman

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Nearly all 2nd hand cars go through auction at some stage. The only ones that don't are trade-in's that the dealer can readily sell or private sales.
 

timk

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I've bought most of my cars for the last 7 years via auction. What a lot of people seem to forget is that just because it's going through an auction, does not mean it is a bargain. Some get carried away and pay retail price or more for a car they've not been able to test drive or inspect in any detail, which could have any number of issues. As far as I'm concerned that makes no sense - you might as well take your time and buy privately giving you the time to consider a purchase carefully.

On the other hand you do see some genuine bargains, but they are getting harder to come by. A lot of the stuff going through is either ex-fleet and unloved with scratched panels or grubby interiors. Some of the best are probably part-exes from big dealer groups which don't fall into their core stock or are too old/ high mileage to put a warranty on.

The other plus point is that payment is safe and secure through a big auction group, fairly hassle-free and cars are HPI checked. You also don't have the pain of going to a smarmy car salesman, a major plus IMO. Just go in with your head screwed on and you should be ok.
 
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I've bought most of my cars for the last 7 years via auction. What a lot of people seem to forget is that just because it's going through an auction, does not mean it is a bargain. Some get carried away and pay retail price or more for a car they've not been able to test drive or inspect in any detail, which could have any number of issues. As far as I'm concerned that makes no sense - you might as well take your time and buy privately giving you the time to consider a purchase carefully.

On the other hand you do see some genuine bargains, but they are getting harder to come by. A lot of the stuff going through is either ex-fleet and unloved with scratched panels or grubby interiors. Some of the best are probably part-exes from big dealer groups which don't fall into their core stock or are too old/ high mileage to put a warranty on.

The other plus point is that payment is safe and secure through a big auction group, fairly hassle-free and cars are HPI checked. You also don't have the pain of going to a smarmy car salesman, a major plus IMO. Just go in with your head screwed on and you should be ok.
Excellent advice ^^

There should, in theory, be more coming through the auctions because a lot of main dealers aren't offering the cars to local traders anymore when taking in part exchanges; they're just sending them off to auction.

A certain main dealer of the German persuasion has stopped phoning me with vans and when I enquired why, it seems there are a lot doing this now. Certainly speaking with other traders, it seems to be happening.
 

MercFanUk

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I like auctions, I'm still chuffed to this day with a little MK4 escort I got for £50 that lasted for a couple of years before I traded it in.

Personally I think they are best if your looking for something a little less standard that you generally wont find at a dealer (Either special, odd, old etc) - or for commercial vehicles.

Plus there's always the 'chance' that you could get a bargain if no one else is that interested in the car your looking at.

As others have said, go with a hard limit for your bidding, take into account the fees, and have a thorough good look over the car(s) your interested while its in the parking bay and when it's running (Don't be afraid to test all the electrics and whatnot - you'd be amazed at those who just look at the engine running thinking thats enough lol) - you wont get a second chance. And remember to take come change for your chips and tea ;)
 
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gchild

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useful advice...
just browsing at the moment, but tempted by w204 sport or diesel e class, dare i say it e90 3 series or e60 5 series m sport (if at the right price)...thoughts?
 

rockinfreakshow

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Ive been a motor trader for many years and have a vast experiance of auctions BCA in particular. As a trader i would never buy a car thats been entered by an independant dealer because i only ever put a car to auction if it has a major defect. However, as a rule cars from the main agent network are usualy fine. My advice would be to buy with your eyes open and Always be present when the cars being started from cold. In some cases BCA will grant you a PASS TO TEST on the viewing day but not always as its at theyre descression. Hope this has been of some help and if you need any other advice just send me a PM.
 
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gchild

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Thanks for the advice. Thats good to know about independent traders
 

dulayj

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Maybe worthwhile just going to one auction to take in the atmosphere etc and then serious bidding next time-lots of cars out there-take your time
 

Benzmanc

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Best time to buy at auction is just after a new reg has come out, all the sales are choked with trade ins. I used to make a tidy living doing this.

Tip, ring around local single make dealers and see what they've got traded in, you'll be amazed at the bargains.

Daz
 

Red C220

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Is there a way to find out what cars sold for at auction (other than physically standing there for the day)?

As a member of the general populous, can you simply turn up at one of these auctions and spend the morning seeing how it all operates? (i.e you don't need trade credentials do you?)

This might be a fun way to scratch my car interest itch. I'm not looking to make a living, just buy a nice car, mooch around in it whilst advertising it for sale.

There are some very nice cars listed in these auctions.
 

Benzmanc

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Is there a way to find out what cars sold for at auction (other than physically standing there for the day)?

As a member of the general populous, can you simply turn up at one of these auctions and spend the morning seeing how it all operates? (i.e you don't need trade credentials do you?)

This might be a fun way to scratch my car interest itch. I'm not looking to make a living, just buy a nice car, mooch around in it whilst advertising it for sale.

There are some very nice cars listed in these auctions.

No you don't need trade credentials except maybe at some of the high end exotica sales. Just turn up grab a bacon butty and watch it all unfold. You won't buy a 12 year old citroen by scratching your nose either :D
 

isojet

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Hi All, my first reply so here's my two cents worth. I bought a c220 estate from an auction a few years ago, saved about 2k of the forecourt price and it turned out ok, but could so easily have ended in tears, no test drive and a pathetic warranty that wasn't worth the paper it came on, my advise would be to take someone who knows how auctions work, don't ever ever go above the price you set in your head for it and assume there's going to be something wrong with it and bid with that in mind, also as mentioned the hammer price isn't the final price, a 5k car will probably end up costing 5400.
 

Red C220

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How much will the buyers commission be on say a £20K car?

I had a look through their website and it doesn't publish actual costs.
 

Red C220

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Another question, I've been browsing the sales and below is a vehicle description (in tomorrows auction at Blackbushe).

MERCEDES-BENZ SLK 1.8 200K, 2 Doors, Roadster, Petrol, Auto/Manual Mode, Silver, Margin, Log Book


What does "margin" mean? It's on nearly every vechicle description.
 

Red C220

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Ahh, I think it's the VAT status, probably just answered my own question.
 
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Ahh, I think it's the VAT status, probably just answered my own question.

Sign of old age that, answering yourself.;)
 

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