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+--- Thread: They are still out there! (/showthread.php?tid=2750)
RE: They are still out there! - Charles P - 05-05-2019
For vehicles Richard Edmonds is 0% seller and 12.5% buyer.
Much better
Charles
RE: They are still out there! - Andy Bennett - 05-05-2019
In my mind the principle of a buyer's commissions is simply a con.
In theory the buyer should be taking their bid price, then adding on the premium in their mind, to have their 'real price' in mind.
I think that in practice the heat and excitement of the auction, with the auctioneer looking at you and saying, 'its a lovely car for £5K, are you going to let it go for that?' rather than being honest and saying ''its a lovely car for £5K, plus my premium making a total of £6K to you, are you going to let it go for that?', just shows that its a way of the auctioneer making things sound cheaper than they actually are and giving you a few seconds to decide whether to take it at £5K, or is it really £6K.
For every person who can actually do the maths there is probably someone who can't and so bids that apparent £5K hammer price up.
Let's face it, we wouldn't go to the supermarket and accept that VAT would be added at the till after we have decided what to buy based on an apparently low shelf price (I know they do that with some tax in US).
We want to know what we are paying, no confusing extras, especially ones you have seconds to calculate and make decisions on, and there is only one reason to hide this extra, to make us forget or be unable to quickly calculate the real price.
The fair and simple way is that the bidder pays what they bid and any charges go to the seller from the price paid. This would create a more competitive environment since sellers would seek out competitive commission rates, rather than not worrying because the buyer will be paying the big chunk.
For that reason, I do go to auctions, but on principle I dont go to any that have a buyers premium of any sort. My inconsequential stance I know, but if everyone did it...
RE: They are still out there! - Charles P - 05-05-2019
As the wise man says:
Selling a car at auction tells you it's true value, of which you then receive 3/4.
RE: They are still out there! - Ian Dunford - 05-05-2019
The mention of :occasional: reminds me that when the new logbook for RV8578 came back to Frampton Cotterell all those years ago the description Cabriolet had changed.to Dustcart.
Had someone been to look without my knowledge?
RE: They are still out there! - Tony Griffiths - 05-05-2019
"Let's face it, we wouldn't go to the supermarket and accept that VAT would be added at the till after we have decided what to buy based on an apparently low shelf price (I know they do that with some tax in US)."
The USA idea (I know it only applies in some cases) is really rather good, for, after you buy, you are remined about the Government tax. There was a time, many years ago, when one of the petrol companies put the tax taken on the pump. It read something like: "Price 60p of which tax is 40p" - which then a salutary reminder to coast down hills, slipstream trucks, put 60 p.s.i. in the tyres, lose weight, choose a lightweight girlfriend and open the windscreen (Chummy).
RE: They are still out there! - Steve Jones - 05-05-2019
(05-05-2019, 12:59 PM)Ian Dunford Wrote: The mention of :occasional: reminds me that when the new logbook for RV8578 came back to Frampton Cotterell all those years ago the description Cabriolet had changed.to Dustcart.
Had someone been to look without my knowledge?
A long time ago, a well known Austin family had a Chummy that instead of 'Tourer' came back as 'Tower Wagon'. Tower Wagons (the vehicles Local Authorities use to service street lights) at that time were tax exempt, something that was used to the owners advantage for some years
Steve
RE: They are still out there! - dickie65 - 05-05-2019
Funny That.
I used to have a Speedex Special that was a Tower Wagon on the V5.
RE: They are still out there! - Tony Betts - 05-05-2019
At the moment there are plenty of classic car auctions out there.
They are all fighting to get the same cars in to sell.
That's why many offer free entry's to sellers, but auctions have to make money same as anyone else. So the fees have to be taken from the buyer.
I attend quite a few auctions nowadays, and yes you have to harden your skin to the auctioneers banter. Cheffins for instance like to say
, its against the law to only have one bid. So many feel a abliged to bid again. Others suggest don't let it go for a bid. Or an item is selling for half it value. It's all banter and regulars see it as good auctioneering. Toughen up and stop biding when it's to expensive.
And yes the fresh blood to the auction will push prices higher than they should be.
If you want to work out what auction fees wilst cost you wilst you are bidding. Right your prices in the margin of your catalog.
If you are after a car valued £5,000. And the fees are 20%
Right in the margine
£3k = £3.6k
£4k = £4.8k
£5k = £6k
£6k = £7.2k
Etc etc.
Its then easier to look at say the next bid on £4,000 being £4.200 is actually £4.800 + 200 ( just over £5k).
It's easier to explain than right it down. Tony.
RE: They are still out there! - AllAlloyCup - 06-05-2019
I recently visited Mathewsons in Thornton le Dale
In North Yorkshire. Their commissions were 7.5% for both buyer and seller + Vat
Commission dropped to 5% if you go over £20k for your car.
As an aside I once had a Steyr-Puch Haflinger which I opted to
Have as an Agricultural vehicle. No road tax but wasn’t supposed to go far from the “farm”
I once did Princes Street in Edinburgh from North Berwick!!!
Regards
Bill G
Aka AllAlloyCup
RE: They are still out there! - Nick Salmon - 11-05-2019
Does anyone know if the Chummy sold at auction or was it withdrawn. The auction website really is an utter pain to navigate and then you have to register to see the hammer prices. Daft or what?