Car Auction Buyers Fees

emmell

And don't forget, when bidding if you don't reach the reserve price, you can go in to the office and ask the reserve and then put a bid in.
Try to go for cars that are either main agent or direct from a lease company, don't buy from a middle man.
ML.

forgotmyname

I bought mine from a middle man, I was after something specific and trawling the auctions would
have cost me time and money.

Bought mine off a guy who buys ex-lease cars from the auctions and adds a few hundred £ and flogs them
back out. If i had gone to the auction i could have paid a few hundred less but how many times would
i have had to visit to find the car i want?

blacksta

neilmcl wrote: »

+1, :rotfl::rotfl:

Seriously, OP do your research, decide on the price you want to pay and stick to it. Don't listen to all the urban myths about traders/auction houses working together to fleece you. You'll be fine.

Who told you it is an urban myth. I have witnessed it at least twice where sellers were bidding on their own cars . Obviously agreed with auction house upfront. Totally wrong i say why not just put a reserve price

Hammyman

neilmcl wrote: »

I've never heard of this, bought a number of cars in the past at BCA.
.

I have. I've been to several car auctions and not BCA.

Hammyman

neilmcl wrote: »

+1, :rotfl::rotfl:

Seriously, OP do your research, decide on the price you want to pay and stick to it. Don't listen to all the urban myths about traders/auction houses working together to fleece you. You'll be fine.

You are so naive it is beyond belief.

Auctioneers do this thing called "Bidding off the wall" as its known in the trade. If a car is not getting bids or the value the auctioneer thinks its worth, they'll put in phantom bids to up the price. It is not uncommon to see it where they've cocked up, made a bid off the wall and the real bidder hasn't stuck another one on so the car goes through the next auction as its unsold.

If you go to the same auctions long enough, you'll notice it going on.

vax2002

Chumping : The auctioneer bids against you with fictitious bids (shill Bidding) to raise the price so the sellers sell the car and he gets his commission, to avoid set your price, wait before the hammer and make your bid, have a friend watch for the chump and walk in to that area at once the auctioneer is looking, it stops it dead.
Next is "Pulling " You win the Auction but at the counter the staff say the seller wont sell the car unless you add on a few more quid, very very common, you agree, they split the extra cash for the office beer fund, to avoid, once the hammer has fallen, entering in to any agreement on price afterwards is a separate negotiation to buy the car, stick to the auction price, they will let you sweat a bit then call you back, however this is called sweating, state they either honour the auction or refund the deposit immediately, do not get "pulled" in to adding on more money.

neilmcl

Hammyman wrote: »

I have. I've been to several car auctions and not BCA.

The OP mentioned Mannheim and BCA specifically which don't have an indeminity fee.

And no, I'm not naive at all, I've regularly attended auctions for years and what you describe maybe the norm at some of the places you may have visited but is fairly rare at the bigger remarketing sites like BCA and Mannheim. I don't say it never goes on but to give the impression that this is the norm is wrong and like I said an urban myth.

blacksta

neilmcl wrote: »

The OP mentioned Mannheim and BCA specifically which don't have an indeminity fee.

And no, I'm not naive at all, I've regularly attended auctions for years and what you describe maybe the norm at some of the places you may have visited but is fairly rare at the bigger remarketing sites like BCA and Mannheim. I don't say it never goes on but to give the impression that this is the norm is wrong and like I said an urban myth.

Wrong again - Saw this happen twice at BCA Enfield and manheim auctions chelmsford . One of the reasons i stopped going to auctions - will take my chances buying from a forecourt or private.

cheekychappy

I read the Terms at mannheims some time ago and it said sellers can bid on their own cars until it reaches reserve. !

emmell

It doesn't make no difference who's bidding, if the car gets nowhere near its reserve they wont sell it, they will either speak to the owner about lowering the reserve or withdraw the vehicle if the auctioneer thinks the reserve is too optomistic.
I have been to an auction where the auctioneer had clearly got sick of offering cars with silly reserves, so as the cars came in the auctioneer said who'll give x£'s for this car, nobody? Take it away driver. Didn't have time to look at the cars, he was rattling them through in minutes. Made for a crappy auction though, I'd rather be 'trotted' up to a price they may be willing to accept than not get the chance to bid at all.
What I meant earlier about 'middlemen' was, cars that have been brought to auction by traders because they can't shift them. If you buy direct or ex lease there will be no trader 'trotting' it up, (the auctioneer might though).
ML.