Thoughts on selling cars privately
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hashluck
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I would not buy from there for all the reasons you state. The Market site does at least offer a photo and ad writing service for the seller and more often than not they physically have the car or you can contact the seller and view as a buyer. I have viewed a few cars there as they are local. They were not as good as I was hoping and ended up selling above retail. Quite mad really and auction fever taking over. Might sell a car there but not buy. At what point sellers kick back I am not sure. I see the same thing happen all the time in antique auctions and that has happened for years. Somehow buyers trust the auctioneers (more than the trade) even though, as you say, they are physically and legally completely hands off.
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zagatoes30
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I looked at this site a few weeks ago and came to the same conclusion, it seems to me that the risk is the buyers when surely it should be the sellers. In my view it should be the seller who pays the 6% (or whatever) after all it is they that will be getting the money at the end of the sale, it is they that benefit from opening up their sale to a wider audience and it is in their interest to do everything they can to make the sale. Additionally I noticed that prices are no different than open market prices, maybe if anything a tad higher.
lifes2short
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what a sh1t system and can imagine a lot of court cases and/or disputes with buyers not following through with purchases due to sellers mis describing motor, seems the company is on to winner until buyers wise up, the problem is ones interpretation of condition of car can be completely different to some one else's as i have found out on many occasions when viewing motors, in fact sometimes i think stevie wonder would have described it better
Wack61
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I loved Brass
But Jack , you can't drive
Don't worry , I shall learn to drive the same way I learned to make love to beautiful women
How's that
I'll practice a lot on my own
rockits
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Thanks all. Agreed. Really useful and reinforces my thoughts.
I have decided I won't be putting in any more bids and won't be buying a car now or ever on Collecting Cars.
It just doesn't make sense for the buyer so much. When you think about it this is partly a reason for a seller maybe not wanting to list a car on Collecting Cars as well. If you are alienating buyers like me/us that now won't bid then your potential buyers market is actually reduced from what it would be if you placed an ad on say PH, AT and Ebay. Coupled with the fact that you have to spend ages taking 100-150 pictures or pay them handsomely to do it for you it starts to all fall down a bit. Then there is the possibility that a buyer will bid less to absorb the cost of the 6%.
One other key factor is you can't really change your mind once the auction is live. So if you have a potential buyer from another completely different source you can't sell it to them. Or you can but then the seller is liable for the 6% fee. Either way Collecting Cars will get their 6% which is all they are primarily interested in of course.
I was going to think about selling my Chimaera 500 on Collecting Cars but actually when I think about it, maybe it is not such a good idea for the above reasons. I think I would be better popping an ad up on PH, AT and Ebay instead and doing things the old traditional way.
I read through the CC T&C's last night to make sure I understood everything and they are pretty good and robust. From the CC side at least
I have decided I won't be putting in any more bids and won't be buying a car now or ever on Collecting Cars.
It just doesn't make sense for the buyer so much. When you think about it this is partly a reason for a seller maybe not wanting to list a car on Collecting Cars as well. If you are alienating buyers like me/us that now won't bid then your potential buyers market is actually reduced from what it would be if you placed an ad on say PH, AT and Ebay. Coupled with the fact that you have to spend ages taking 100-150 pictures or pay them handsomely to do it for you it starts to all fall down a bit. Then there is the possibility that a buyer will bid less to absorb the cost of the 6%.
One other key factor is you can't really change your mind once the auction is live. So if you have a potential buyer from another completely different source you can't sell it to them. Or you can but then the seller is liable for the 6% fee. Either way Collecting Cars will get their 6% which is all they are primarily interested in of course.
I was going to think about selling my Chimaera 500 on Collecting Cars but actually when I think about it, maybe it is not such a good idea for the above reasons. I think I would be better popping an ad up on PH, AT and Ebay instead and doing things the old traditional way.
I read through the CC T&C's last night to make sure I understood everything and they are pretty good and robust. From the CC side at least
JonW
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Dean
I haven’t bought from Collecting Cars, but I did bid on the MC-V they sold a while ago, and was put in touch with the seller to arrange a time to go see the car.
I definitely think there’s a space in the market for an online auction site, and I can see there’s benefit for both buyer and seller - depending on what you’re looking for and what you value... I suspect the benefits are maybe more obvious for the seller, but for the right car I would still consider bidding on a car they were sellling, and would insist on being able to speak / message the seller as a minimum, if not physically see the car.
I will also say I was impressed by the communications from Collecting Cars, and they came across as genuine, honest people...
I haven’t bought from Collecting Cars, but I did bid on the MC-V they sold a while ago, and was put in touch with the seller to arrange a time to go see the car.
I definitely think there’s a space in the market for an online auction site, and I can see there’s benefit for both buyer and seller - depending on what you’re looking for and what you value... I suspect the benefits are maybe more obvious for the seller, but for the right car I would still consider bidding on a car they were sellling, and would insist on being able to speak / message the seller as a minimum, if not physically see the car.
I will also say I was impressed by the communications from Collecting Cars, and they came across as genuine, honest people...
lifes2short
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so was is the deal with CC, do you actually have to pay a fee to them before you're able to speak to seller and view the car??
rockits
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Yes, exactly that. They take the fee from your credit card when the auction ends then send over the sellers details to the buyer and vice versa. Then you are on your own. You are just effectively paying a fee to use their platform up to this point.
JonW
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No - while the auction was still running I contacted them and said I had some questions and wanted to be able to speak to the seller...
I then got a reply with his email and phone number.
hashluck
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Indeed - there is generally no issue with you being able to contact the seller and view the car. Collecting Cars are a bit more hands off as far as I can tell. The Market often have the car. The Market charge the seller not the buyer. In both cases though the auction house makes no representation or warranty regarding the car, they are acting as brokers. It is a private sale.
Ewan
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CC (plus other similar sites) seem to be a perfectly good options for the seller, as the prices they achieve look reasonable, plus of course, the deal is done quickly and the car is sold. That's the joy of an auction. To advertise a TVR, Maser etc on the traditional channels means it can take months (years even!) to sell.
As for the buyer, well, you buy the car you want from wherever you can find it. If that is means it's from CC, then so be it. If I saw a car I wanted on CC, the fact that it was on there wouldn't put me off.
As for the buyer, well, you buy the car you want from wherever you can find it. If that is means it's from CC, then so be it. If I saw a car I wanted on CC, the fact that it was on there wouldn't put me off.
rockits
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I don't think this is advertised or encouraged. Just I guess a concession akin to if you don't ask you don't get.
rockits
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It is a weird one as I am not going to spend a long day round trip to go to see a car before I know I can actually buy it. If I knew the price, went to see it, worked a price with the seller and bought it the old school way that is fine. However to take a long day out at great cost to find the auction goes to someone paying what I feel would be a silly number and I've wasted time I don't have.
JonW
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I don’t think it’s a concession - it is in their interests to answer questions and to try and put potential purchasers minds at rest. After all - I (and many others) would be willing to bid more for a car if I’ve spoken to the owner (if i can tell they were an enthusiast) and I would definitely bid more for a car I’ve seen...
Given that Collecting Cars are not selling average cars, I think they should be positively encouraging people to ask questions, communicate with the owners, etc...
rockits
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I do agree. Maybe they are missing a trick but not advertising this fact and could suggest added value by doing this. It certainly doesn't come across that way as a buyer or outsider.
Scaf
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I chose to trade my GTS rather than sell it privately.
Firstly as I think the majority of people buying these cars prefer a dealer purchase and warranty and secondly once I decide to change cars I want it done quickly and hassle free.
The downside is that I pay at both ends, low trade compared to retail and a premium for buying from a dealer with warranty.
This is a price I am happy to pay to get an easy “timewaster” free sale and purchase.
Firstly as I think the majority of people buying these cars prefer a dealer purchase and warranty and secondly once I decide to change cars I want it done quickly and hassle free.
The downside is that I pay at both ends, low trade compared to retail and a premium for buying from a dealer with warranty.
This is a price I am happy to pay to get an easy “timewaster” free sale and purchase.
rockits
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I can't argue with your process there Sam. If you don't change your car too often it all works nicely and you pay a small premium to do so but as you say well worth the reduced risk/hassle.
Trouble is I have a few more changes and don't have pockets deep enough to work this way. I would love to if I'm honest as it would be much less time consuming, easier and so much nicer. Maybe......one day!
I try to find somewhere in between.
If it were located more local I would no problem go to see it. If I knew the reserve or had any inclination of the sellers preferred sales price it would help but doesn't really change it too much. If the reserve was say £25k then it is way more than I think it is worth so I don't need to waste mine or the sellers time anymore. These types of cars are hard to value at the best of times. In the winter in the midst of Covid and pending economic doom even more so!
Trouble is I have a few more changes and don't have pockets deep enough to work this way. I would love to if I'm honest as it would be much less time consuming, easier and so much nicer. Maybe......one day!
I try to find somewhere in between.
If it were located more local I would no problem go to see it. If I knew the reserve or had any inclination of the sellers preferred sales price it would help but doesn't really change it too much. If the reserve was say £25k then it is way more than I think it is worth so I don't need to waste mine or the sellers time anymore. These types of cars are hard to value at the best of times. In the winter in the midst of Covid and pending economic doom even more so!
gb-gta
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In the terms and conditions it says it’s up to the buyer to arrange to inspect the car before they bid. First line in the bit about buyers. I don’t think it’s discouraged. Why would it be?
If you choose not to view before bidding, due to distance for example, with obviously no guarantee of having the winning bid, then that’s a choice you have to make. Unless there is a ‘buy it now’ option, to stop the auction if it’s all good and the price is fair.
Of course, buying from a dealer gives you the option of a holding deposit, securing the car at a pre agreed price based on car being as described, if you are travelling a long way.
This option is not going to bag you a bargain however, whereas an auction potentially could. Feeling lucky punk?!
If you choose not to view before bidding, due to distance for example, with obviously no guarantee of having the winning bid, then that’s a choice you have to make. Unless there is a ‘buy it now’ option, to stop the auction if it’s all good and the price is fair.
Of course, buying from a dealer gives you the option of a holding deposit, securing the car at a pre agreed price based on car being as described, if you are travelling a long way.
This option is not going to bag you a bargain however, whereas an auction potentially could. Feeling lucky punk?!
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