Static caravan purchase

adegoods

I bought a static caravan on a holiday park in 2022 for £58000 and just found out that they purchased it from someone who was upgrading to a newer one for £44000 I'm just wondering if they were allowed to put so much price on reselling a caravan 

LightFlare

They are free to try and sell for as much or as little as they think someone might pay - much as you are free to pay as much or as little as you think it was worth.

58000 was the figure that they thought they could sell at and you were happy to pay 

lincroft1710

Not unlawful in itself. The vendor may have done some upgrading to the van, or price may have included 12 month's site fees.

elsien

You clearly thought it was good value at the time you bought it, otherwise you wouldn’t have bothered. 

All perfectly legal and a case of buyers doing their homework beforehand.

eskbanker

Not aware of anything that would constrain resale prices relative to cost of sale, but the bottom line is that if you considered it worth £58K at the time of purchase, then there's not much point in looking at what money changed hands in earlier unrelated transactions.  Or are you suggesting that there was some actual misrepresentation involved?

njkmr

Common practice.
buy low , sell high.
as with any property if its in demand prices will rise.
People do make a living from this.

Aylesbury_Duck

Yes, they're allowed.  It was a price you were happy to pay.  Presumably you did a little research to check it was reasonably in line with similar properties and it was?  If so, what the seller paid for it is irrelevant.  If you hadn't bought it at £58k someone else probably would have at or around that price.

ThumbRemote

A roughly 30% mark-up isn't that excessive - that's less than companies like CEX get on buying and selling.

Was there any VAT to pay? Potentially that could swell your purchase price too. 

SiliconChip

Who did you buy it from? If it was the site itself then it's absolutely standard practice that they buy from owners at a price significantly lower than the market value of the van, which they then sell on at that market value. If you want to attempt to get a bargain you need to buy direct from the owner.

GingerTim

Have you ever sold any property for more than you bought it?

TELLIT01

If you sold a car to a dealer they would give you less than they would sell it on for.  When purchasing a static caravan the price will generally include site fees as well as a profit for the seller.  Do you think a site would sell a brand new 'van for the price they paid for it?