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(10-09-2021, 05:44 PM)Tony Betts Wrote: (09-09-2021, 10:41 PM)Edgar Lowe Wrote: (09-09-2021, 10:18 PM)Tony Betts Wrote: cant falt him,
he turned out and bought it.
although seeing his other vehicles he has for sale, im surprised he is scrapeing the barrel with a £10k profit austin 7.
tony
Imagine how the seller is feeling now, as he will be lucky to net £11k
hi edgar,
the vendor offered me the 1923 last year for £30k. with his ill helth, i dont think the money for money sake is the problem.
the value on the car represents its a lovely car worth a lovely price.
i think he will be more upset, that bidders though so little of his car.
tony What amaze me is that they must have not been a reserve price or a very very low reserve price. Looking at the estimate price quoted by Bonhams it was I thing between £20,000 and £30.000 so anyone would had assumed that the reserve would had been around the 20K plus adding the Bonhams fees it has put Austin7 people off from attending. I presume they would had to pay the fees of a catalogue just to bid.
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Car type: 1938 Talbot Ten Airline
Exactly. I wasn't in the market for the car, much as I would like it, but my assessment was that the reserve was probably at least £20k, and even if it only went for that, by the time fees and expenses were added that put it at or beyond my valuation. Had I in fact been in the market for it, I would probably have decided it wasn't worth the hassle of bidding on it, especially as there is another on the market at much the same sort of figure.
Interestingly there have been very similar comments on other (non Austin) cars in the sale which either didn't sell or went for way under the published estimates. Maybe Bonhams are loosing their touch!
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(10-09-2021, 06:06 PM)Edgar Lowe Wrote: (10-09-2021, 05:44 PM)Tony Betts Wrote: (09-09-2021, 10:41 PM)Edgar Lowe Wrote: (09-09-2021, 10:18 PM)Tony Betts Wrote: cant falt him,
he turned out and bought it.
although seeing his other vehicles he has for sale, im surprised he is scrapeing the barrel with a £10k profit austin 7.
tony
Imagine how the seller is feeling now, as he will be lucky to net £11k
hi edgar,
the vendor offered me the 1923 last year for £30k. with his ill helth, i dont think the money for money sake is the problem.
the value on the car represents its a lovely car worth a lovely price.
i think he will be more upset, that bidders though so little of his car.
tony What amaze me is that they must have not been a reserve price or a very very low reserve price. Looking at the estimate price quoted by Bonhams it was I thing between £20,000 and £30.000 so anyone would had assumed that the reserve would had been around the 20K plus adding the Bonhams fees it has put Austin7 people off from attending. I presume they would had to pay the fees of a catalogue just to bid.
totally agree,
it all depends of what bonhams agreed with the vendor.
when i say ill helth, i dont just mean a cold, i take it there were charges to get the car to auction. and I QUESS with uplift fees over £300 storage fees, and recovery to owner fees. i take it the vendor put a no resurve on the car. instead of risking all these fees to get the car back.
bonhams can be tempting to sellers, because you often see large prices on there car sales. however if you are selling, you need to consider every fee they charge.
people fall for a simular thing with bangers and cash, in the hope to be on the telly.
tony
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11-09-2021, 06:31 AM
(This post was last modified: 11-09-2021, 06:31 AM by Steve kay.)
I am not going to make any direct comments about Bonhams. What I might say is that auction houses such as Edmonds or Brightwells can be wholly trusted. If contracted about incorrect or dubious catalogue descriptions, they will correct them, Brightwells acknowledging the correction of history or provenance. Their estimates will reflect the best current market price, vendors seeking more might be helped to be realistic, and reserve prices are intended to stimulate interest, rather than diminish it. If a sale is not made, they will not, by 2.00 pm on the day following the sale, have removed the car to a store in Northampton, before the vendor selling her deceased husband’s car, had been able to arrange its return. Naturally, the removal and storage costs had immediately been charged. The unsuccessful vendor at either of the houses mentioned, when the car failed to reach its unlikely price, would not then have been contacted to say that an offer for a much lower figure had been received, would they like to accept that. Within the community of Austin, Morgan, Riley or other owners, we know that Coys are a bunch of crooks, some of whose directors have fled the country. We know that if, for instance we were to choose to sell through Brightwells, Matthew Parkin is well known and can be spoken to at a trials section or in a paddock, so hardly trying to hide anything. Forum members might deduce that certain houses are somewhere in between criminality and being trustworthy, and best avoided. Sadly, some car owners, or more sadly, thier widows, might not know such things. Just an observation.
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hi steve,
ive sold cars in both of those auction houses, and had excellent service. vehicles sold in both.
i find i usually get a bit less money through auction, but its well worth it. not having to put up with they tyre kickers and dreamers.
a little bit like the 23 car, i find the hardest cars to sell for what they are worth. are the ones in best condition, with the best build spec.
ill guess that comes from, the old opinion that cars are dumped in auction to get rid. because theres something wrong with them.
often far from the truth.
tony
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(10-09-2021, 08:50 AM)Lance Sheldrick Wrote: Yes, I feel for the vendor, but the real test will be whether the dealer can actually get £25K. I will be interested to see how long the car remains for sale. I regularly watch most of the dealers' websites and the overpriced cars tend to stay for months and in some cases, years.
It's sold. Had a call from the purchaser who's a friend of a friend this afternoon.
Steve
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hi steve,
did he also get the spare 1923 engine that was thrown in with the car.
and all the early paperwork that was also thrown in with the car.
tony
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He got all the paperwork, Tony, and a gearbox, carb etc. but much to his annoyance, the dealer had already sold the spare engine on separately for £500!!
Steve
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Well, I'm very glad that it has sold and I hope that the new owner enjoys it. It is a relief to know that Seven prices are holding up well.
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steve,
its good the paperwork stayed with the car.
i cant remember if the spare engine was the cars original engine, or if it was just a spare in case of breakdowns.
tony
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