Some advice needed, I've been lucky enough to find myself a job abroad which is going to be a great move for me. One snag, I'm left with my car which I bought recently from a BMW dealer and won't have time to do a private sale.
So I'm thinking of putting it up for auction, what I'm afraid of is that I will get far less than it's actually worth. I can't think of any other options, can you?
If it helps the car isn't that new and is an X reg 330 ci so selling it back to a BMW dealer probably isn't an option. Any idea how much it's worth? It's in BMW dealer retail condition, any help with setting a value for auction reserve would be great.
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Try it on Ebay,an auction always,sometimes brutally tells you what its worth.
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I'd endorse the Ebay suggestion, you could be rid of the car in a week. If you're quicj you could get it on tonight when lots of people seem to be looking and stick it on for 10 days and get 2 lots of Sunday browsers.
In terms of setting a reserve, register on Autotrader and do a national search for a similar spec car, try a couple of ways of searching. That will tell you what they're being priced at, then knock off what you think a half competent haggler would get from you, knock an extra couple of hundred off and you're probably not far off the reserve.
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Good suggestions- ebay it is although I'm going to miss out on tonight because my camera isn't here.
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You could always whack the initial auction up now and then add the photo's when you have the camera.
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As it sounds like a nice car ebay will probably fetch a reasonable price but for many cars the selling price on ebay can be less than at general auction. I've bought about 3 cars on ebay in the last 2-3 months and sold them on at auction and made an average of about 700 on each!
Remember that both on ebay and at general auction you can set a reserve bit also remember buyers only look on ebay for one thing: a bargain.
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I've bought about 3 cars on ebay in the last 2-3 months and sold them on at auction and made an average of about 700 on each!
Wow!
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To give an illusration: BMW E46 with very reasonable miles and fsh. CAP Clean about 7600. Bought for 6400 on ebay. Sold at auction for 7350. Deduct entry fee and commission leaves about 700.
Buyers on ebay live in cloud cuckoo land on values of cars. If I had the time to go around the country collecting them I'd buy 5 a day. There is a lot of tat on there but believe me if you put a decent car on there with a trade value of 7000 you will get all kinds of offers around the 5000 mark and often in bidding it will reach about 6500.
On the other hand, every now and again you'll come across some bit of tat which because it has large alloys and a spoiler fetches way over the odds.
Of course you have to be careful, because there is a fair proportion of abused or otherwise inferior cars on ebay. That's another amusing point - ebay buyers get an offer of 5000 for a car which books at 7000 accepted and then get all upset when the car turns out to be stolen, crashed or otherwise generally rubbish.
ebay is a classic example of naive people not yet realising that in the used car market you nearly always get what you pay for!
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To give an illusration: BMW E46 with very reasonable miles and fsh. CAP Clean about 7600. Bought for 6400 on ebay. Sold at auction for 7350. Deduct entry fee and commission leaves about 700.
I take it that it was a no reserve auction?
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Yes, no reserve, but if you look at completed sales most auctions with even very reasonable reserves fail to get even close.
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If its a good clean car why not take it round to some local quality car sites and asking what they would give for it? Saves aggro and time of auction and you will know what price you will get immediatley?
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