Are prices due to crash?

[larrylamb]

At auction:

2020 Coast 18k miles sold for £61.5k
2020 Ocean 8k miles 4Motion sold for £72k

If prices have crashed, no one has told the traders.

Very rich prices for trade. Might be private buyers, I've bought from BCA in the past.

 

[larrylamb]

How long before VW introduce a clause like this to stop profiteering.

https://twitter.com/x/status/1585889918420922369

Land Rover buyers refused delivery unless they agree to sell on clause | Auto Express

Land Rover dealers have been asking customers to agree not to sell outside dealer network

www.autoexpress.co.uk

 

[reserves]

Very rich prices for trade. Might be private buyers, I've bought from BCA in the past.

Not BCA

 

[Ch1pbutty]

How long before VW introduce a clause like this to stop profiteering.

https://twitter.com/x/status/1585889918420922369

Land Rover buyers refused delivery unless they agree to sell on clause | Auto Express

Land Rover dealers have been asking customers to agree not to sell outside dealer network

www.autoexpress.co.uk

Impossible to enforce.

Peoples priorities / circumstances change all the time.

You can’t prevent an individual from making a profit; Car dealers do it every single day. If you sell the car back the dealer within 6 months, they will just put it back on the forecourt with a healthy markup for immediate delivery.

 

[soulstyledevon]

Agree with the above.
The dealerships shouldn’t be the only ones able to make a profit.

 

[soulstyledevon]

Very rich prices for trade. Might be private buyers, I've bought from BCA in the past.

That was initial thought .
Private buyers

 

[andyinluton]

Impossible to enforce.

Landrover do enforce it by not letting you take delivery of a replacement. So you can buy one, flip it & thats your lot.

 

[Corradobrit]

Landrover do enforce it by not letting you take delivery of a replacement. So you can buy one, flip it & thats your lot.

Thats just total bs. The buyer is taking ownership, paid full whack and can do what they like. There are many reasons someone might wish to sell. Rolex dealers are pulling that crap too. Make more of the item in question and that will kill off the inflated secondary market.

 

[andyinluton]

Thats just total bs. The buyer is taking ownership, paid full whack and can do what they like.

If you read what I wrote properly it’s not BS
They will sell you one vehicle, if you break their rules by not selling back to them they won’t sell you another to flip.

They would have trouble enforcing something after you’ve bought a vehicle but you can’t make them sell you another one.

 

[reserves]

A Cali that’s been advertised here for a few weeks just sold at Auction.

Seller was asking £50k here

Sold for £41.5k at auction.

Seems a shame that the seller couldn’t reduce the price and sell privately for say £44 / £45k

Now listed at a dealer for £49,950

T6 Beach Edition in White.

 

[soulstyledevon]

Now listed at a dealer for £49,950

T6 Beach Edition in White.

Wash, clean and an oil change. Easy £8k profit.
Laughing all the way to the bank…

 

[Ch1pbutty]

Wash, clean and an oil change. Easy £8k profit.
Laughing all the way to the bank…

Quite sad for the original private seller - they would only get £33.2k after say 20% auction commission, must have been very desperate for cash.

 

[Velma's Dad]

Quite sad for the original private seller - they would only get £33.2k after say 20% auction commission, must have been very desperate for cash.

Dealer will have had to pay buyer's premium - probably 12-15% (plus VAT but if dealer VAT registered let's ignore that). So if hammer price was £41.5k then after premium, transport costs etc dealer will have paid £47-48k.

 

[reserves]

Quite sad for the original private seller - they would only get £33.2k after say 20% auction commission, must have been very desperate for cash.

Commission paid by dealer in this case so they would have got the full £41.5k.

 

[reserves]

Dealer will have had to pay buyer's premium - probably 12-15% (plus VAT but if dealer VAT registered let's ignore that). So if hammer price was £41.5k then after premium, transport costs etc dealer will have paid £47-48k.

Only £500 or so commission on this one for dealer

 

[Ch1pbutty]

Dealer will have had to pay buyer's premium - probably 12-15% (plus VAT but if dealer VAT registered let's ignore that). So if hammer price was £41.5k then after premium, transport costs etc dealer will have paid £47-48k.

Ah ok. I see, so buyer pays commission.

 

[Velma's Dad]

Ah ok. I see, so buyer pays commission.

Both sides end up paying the auction house various fees and charges.

Usually, the seller pays a listing or consignment fee (non refundable on a no-sale) and a percentage commission based on the hammer price, plus VAT on that.

The buyer pays a buyer's premium, which is a percentage of the hammer price (typically 12-15%). Plus VAT on that.

 

[soulstyledevon]

Only £500 or so commission on this one for dealer

No chance would a dealer only change £500.
It wouldn’t be worth their effort.
They probably have preferential rates with the auction house if they buy a lot of stock through them.

 

[Velma's Dad]

They probably have preferential rates with the auction house if they buy a lot of stock through them.

Yes there are trade fee bands although I gather they are very opaque. Also it will be very different at trade-only auction houses like BCA, however they depend on very large volumes.

 

[Karlos]

Quite sad for the original private seller - they would only get £33.2k after say 20% auction commission, must have been very desperate for cash.

I'm sure there will be more in the years to come if things don't improve.

 

[reserves]

The Trade are continuing to buy them.

2019 Ocean 12,500 miles sold for £52,500.

 

[calibeach76]

Take it from me the motor trade is in massive decline. BMW sales down by over 50%, JLR 35% down...

 

[willwander]

The Trade are continuing to buy them.

2019 Ocean 12,500 miles sold for £52,500.

That’s more than I paid for my 2019 Ocean brand new.

 

[calibeach76]

That’s more than I paid for my 2019 Ocean brand new.

 

[reserves]

Take it from me the motor trade is in massive decline. BMW sales down by over 50%, JLR 35% down...

I know, seeing this everywhere, surprised Cali’s haven’t dropped along with everything else, so far at least