Car Auctions - has the phase passed?

censuspro

About 2-3 years ago when dealers where going bang, car auctions were all the rage. Punters were out bidding each other and paying same prices they would get on the four courts. What type of attendance are auctions getting now and realistically how much would you expect to save on average by going to an auction 10%, 15%? If you are not in the trade and you were that serious about picking up a bargain I'd hazard a guess the max someone is willing to spend at an auction is in the region of €10k. For the sake of €1k savings do the risks outweigh the rewards?

shanec1928

Going by what's posted here cars are going close if not above retail price.

Stheno

shanec1928 wrote: »

Going by what's posted here cars are going close if not above retail price.

Was just going to say the same

Mad_Mike

Yeah but it's not that auction prices are climbing!
The "real" prices have plummeted

lifer_sean

Mad_Mike wrote: »

Yeah but it's not that auction prices are climbing!
The "real" prices have plummeted

I don't agree. More like what the guys said, stuff is making retail prices at auction.

I was at an auction last week, first time I bothered in a few months. 05 Golf 5dr 1.4, 110k kms, timing belt not done, no NCT, needed a tail lamp and 2-3 panels painted, made 5000 plus commission. 03 Golf 1.4, nice car, low miles (59k), no NCT, belt not done, 3200 + commission. Lots more of the same.

Can't say those prices have plummeted !

MidlandsM

+1, like Sean above, I'm in trade OP, and never bother with any irish auctions.

There is no value to be had whatsoever.

censuspro

MidlandsM wrote: »

+1, like Sean above, I'm in trade OP, and never bother with any irish auctions.

There is no value to be had whatsoever.

Are people just strolling into auctions and putting bids on, surely they research what retail prices are before they go?

MidlandsM

censuspro wrote: »

Are people just strolling into auctions and putting bids on, surely they research what retail prices are before they go?

a lot of it is (alledgedly) the auction house having fluffers in the bidders, bidding up the price, and then lets not forget those phantom "internet" bids ....:rolleyes:
and then its the general public thinking they're getting a bargain and getting caught up in the whole bidding excitement ..........ediots.

lifer_sean

I take your point MidlandsM, but in the case of the auction I was at, it was not heavily advertised and was well attended by the trade, more trade than retail buyers I think. Lots of 131-D cars in the car park, my guess demo models being driven by main dealer staff.

From what I could tell it was the trade guys that were paying the high prices. A guy standing beside me bought 3 or 4 cars, VW / Audis. Another trade guy that I spoke to had bought a few cars, but they were wierd stock, not stuff I would have bid on.

So if the trade guys are paying these prices, used car prices will have to go up if they are to make a profit !

bazz26

censuspro wrote: »

Are people just strolling into auctions and putting bids on, surely they research what retail prices are before they go?

Numpties listen to hyped up newspapers articles and pub talk about how there are great bargins to be got at auctions. They hear great stories about guys buying Range Rovers for half nothing, etc but don't ask why these sort of cars are going cheap. Usually because they need work done on them and/or they are expensive to run. So off they go to an aunction and jump in with both feet thinking they can pick up a Golf for next to nothing.

They stick out like a sore thumb at auctions and easily get caught up bidding against each other for the so called bargin. The regular trade buyers pick up most of the good stuff anyway and leave the rest to the numpties. People tend to forget that you have to pay VAT and the auction house commission on top of the wining bit price too.

mickdw

Im reliably informed that the phase id passing. Private buyer numbers are tailing off a bit at some auctions.
Its was a joke the prices people were paying.

goochy

Notice merlin have had a lot of very hi mileage rr sports and other cars mileages so high hard to see them being retailed who is buying these kind of vehicles ? With main dealers now dealing a lot in used cars are many dealers buying cheaply at auction giving gud warranties and then making big profits on them ?

cbyrne11

Hi Guys,

Sorry to jump in on your conversation, but you seem to know what your talking about.

Myself and my GF are moving away and need to get rid of our cars, I was going to avoid the auctions as I had been told that you'd get next to nothing in them but would you advise selling at them at the moment? Below are some details, what could we expect to get? Also where is the best auciton to go to from a sellers point of view (Best price/Charges??)

Car 1
Audi a3 1.8T 2002, 164,000 miles, blue, timing belt done at 130,000, NCT May 2013
Car 2
Alfa Romeo 147 2002, 80,000, blue, think the belt was done at 65,000, NCT Jul 2014 (I think)

MidlandsM

cbyrne11 wrote: »

Hi Guys,

Sorry to jump in on your conversation, but you seem to know what your talking about.

Myself and my GF are moving away and need to get rid of our cars, I was going to avoid the auctions as I had been told that you'd get next to nothing in them but would you advise selling at them at the moment? Below are some details, what could we expect to get? Also where is the best auciton to go to from a sellers point of view (Best price/Charges??)

Car 1
Audi a3 1.8T 2002, 164,000 miles, blue, timing belt done at 130,000, NCT May 2013
Car 2
Alfa Romeo 147 2002, 80,000, blue, think the belt was done at 65,000, NCT Jul 2014 (I think)

to be honest, with those you're best chance is to flog them off cheap on DoneDeal ..... good luck to wherever you guys are off too .....can I come...lol ??

cbyrne11

Thought that might be the case, I have tried some of those webuyanycar places and they offered 1000.00 for the Audi didn't try the other one, so have that as a fall back if they don't sell on Donedeal.

we're heading to south america and then Oz, sure come along the more the merrier!

road_high

Some of the prices I've seen here have been outrageous from auctions in Dublin e.g. nearly 5k for '10 Ka....seen the very same cars last summer for €4995 in a dealer is one that sticks out in my head.
Auctions need to be at least 20%cheaper imho to be woth risk/hassle and even then have your whits about you.