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Auto auction to sell used car?

 
 
Reply Fri 22 Sep, 2006 05:17 pm
I just got a phone call from the auction people. They saw my ad for my 2000 Daewoo and want me to place it on their auction. Do you think it's likely to generate more money or less money for me to sell it that way? I'm trying to get at least $3,000 for it (it's advertised at $3,500.) It has about 67,000 miles on it, I'm the 3rd owner, had the brakes redone last spring. It gets about 34 mpg in town, about 40+ on the highway, has a/c and power steering. What do you all think?
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Type: Discussion • Score: 1 • Views: 1,145 • Replies: 4
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timberlandko
 
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Reply Fri 22 Sep, 2006 05:39 pm
Doesn't matter what you've advertised it at, or what you or any guidebook thinks it might be worth if it goes to auction; it'll bring what it brings, especially if its put in as "sell regardless" or "no reserve" - which, unless there's something very special about the car is the way to submit it if you really want it sold - and whatever it brings will be subject to commissions, fees and charges.

If its a public auction, it might bring a bit more than it would at a dealer-only auction, but that's not a given. Dealers typically sell at auction because they see little or no retail profit potential for cars they're selling and they feel cars they purchase are bought well enough below retail to afford an acceptable retail profit - dealers are a tough market; they don't have any love affairs with any cars - to dealers, cars are just inventory, plain old product, and there's plenty of it to be had. Public auctions can be different, however; Joe Public rarely has any idea what he's doing, and typically buys on emotion, often paying well above what a car reasonably might be expected to bring.

Sounds to me like whatchya got there is somebody working a consignment game - gathering inventory without investing in it - not necessarily illegitimate, mind you, but the potential is there. One thing is certain; whoever made you that offer has profit in mind. Precisely what are the conditions of the offer to represent your car at auction?
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NickFun
 
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Reply Fri 22 Sep, 2006 07:26 pm
A friend of mine once bought a $15,000 car for $5,000 in a sealed bid auction. Seems he was the only one to bid on it and the rules require the sale be made to the highest bidder within a ccertain time frame. Be careful!
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BillyFalcon
 
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Reply Mon 25 Sep, 2006 09:30 pm
Auction off a used car? My friend bought a 1998 Jetta diesel on E-BAY.
It was a good car that got 47 MPG. He really needed a wagon so he bought a new Jetta wagon diesel and we bought his 98 from him. We get about 45 mpg. Suits us fine. The high price of diesel fuel? Do the math.
It's still cheaper to run a diesel compared to a gas engine carWITH EQUAL ROOM.
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NickFun
 
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Reply Tue 26 Sep, 2006 07:57 am
But if you're in northern climates diesle becomes think and the car is hard to start.
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