Lovely looking C55

[Bobby Dazzler]

If you’re not sure what something is worth - and it is a very very rare car in a very unpredictable market - selling in an auction with a high reserve is a good way of making sure you know that you got the market rate for the car.

It’s not uncommon for the auction house to negotiate a deal with the highest bidder on behalf of the vendor, either to do a deal at the highest bid or somewhere between that and the vendor’s reserve. The buyer buys, the seller sells, the house get it’s cut.

 

[nickjonesn4]

Yep, we all get how an auction works - just don’t understand why the seller is ‘greedy’ - if it doesn’t meet the reserve, it doesn’t sell, seller gets no money - but he knows what he’s prepared to let it go for, doesn’t make anyone greedy IMHO.

Yeah fair enough, just that he's misjudged the value. Difficult to judge though with the prices that the earlier cars generate.

On page one of this thread people were suggesting it was worth mid teens to mid twenties - plenty of interest at auction and closed this time around with bids of £40k?

On the flip side if he’d set the reserve at £20k he’d have massively undervalued this car

True!

I guess it’s a seller’s market - only one of these available presently, and multiple interested parties - bids seem to indicate so.

It definitely is. There is some right old sh*t selling for top $ at the moment

I don’t think I’d want to pay £40k+ for it myself, but then I’m not in the market for one either.

Me neither although appreciate the rarity value

It’s a really common theme on cars that come up for sale/auction on here. Everyone thinks they know what something is or should be worth, until it goes under the hammer. Not many here would have predicted closing bids as high as £40k I suspect

True but its fun to play the game. Watching Collecting Cars regularly I'm constantly amazed how much people will overpay in an auction scenario, must be an ego thing

 

[nickjonesn4]

If you’re not sure what something is worth - and it is a very very rare car in a very unpredictable market - selling in an auction with a high reserve is a good way of making sure you know that you got the market rate for the car.

It’s not uncommon for the auction house to negotiate a deal with the highest bidder on behalf of the vendor, either to do a deal at the highest bid or somewhere between that and the vendor’s reserve. The buyer buys, the seller sells, the house get it’s cut.

Yep, will be interesting to see if this pops up somewhere else for sale. I'd have thought that Collecting Cars would have been a better bet

 

[ubergruber]

It did go to Collecting Cars and I was lucky enough to buy it. Very chuffed and have put 300 miles on it already. I am now trying to piece together any info about the C55's so anything anyone can share i'd be very grateful. It's currently being serviced and having a few jobs done.

 

[Will]

Would be great to see some up to date pics.

I remember the car well down in Cornwall when I saw it, towards the end of the summer.

Good times!

 

[ubergruber]

Will post some when I get it back from the service in a few weeks time.. Nigel looked after it very well and it's in great shape. lovely car