buying/selling at auction

Honest John Back Room » Motoring discussion
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Sun 6 Jun 2004 22:26
buying/selling at auction - Dave Andrews
hi,
i saw a thread not too long ago regarding people buying from auctions and selling on for a profit.
has anyone had experience of this and was there much to be made?
im considering buying a couple of cars, low end of the sector (£2k - 3k)

any advice would be appreciated

thanks

dave
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Sun 6 Jun 2004 23:42
buying/selling at auction - spikeyhead {p}
There's quite a lot in the FAQ'a section on auction buying on this site.

Its quite easy to buy a car for £3k and sell it privately for £4k. Its also very easy to buy a car for £3k, spend £600 putting bits right that weren't obvious, take a couple of weeks to repair and then sell for £3k5 after six weeks of sitting on your drive.

Add in the cost of trade insurance, buyers premiums at auctions and its quite easy to lose money and gain a lot of frustration. If you sell more than a few then you;ll have to declare yourself as a trader, which means you have to either rectify or prove that ay faults weren't on the car when you sold it, up to six months after you sold it.

If you've plenty of space to hold 15 cars, have good local mechanics available and don't mind the grief of dealing with the public then there is a good profit in it if you buy carefully. Otherwise you may end up losing a lot of time, sleep and some money as well.
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I read often, only post occasionally
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Mon 7 Jun 2004 07:55
buying/selling at auction - Geffers
Unless you're a glutton for grief and punishment, forget it.....!
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