9:15 A.M. Labor Day.
I get a surprise message on Facebook this morning from a guy who bought an old Volvo 940 wagon from me nearly six years ago.
“That BMW? What did it go for?”
A month ago, I posted this article regarding the grey market Bimmer. It had sold on the block for a mere $2,300 due in part to a broken odometer. I clicked on the Ebay listing hoping for a fair disclosure. Instead I got…
This 2009 BMW 535i has 45,000 miles and looks absolutely drop dead gorgeous. It offers nearly the same acceleration as a 550i, and far more space than the 335i, which is more sought after in the enthusiast world.
To me, if you’re a true keeper, all of this is good news. The better news? It’s a lemon!
TTAC Commentator cc-rider writes:
Hi Sajeev- Happy New Year. A local 2003 Marauder popped up next to me for a very nice price. It is a one-owner car with 113k. I spoke to the owner and it just needs a bit of cosmetic work. The grill is busted up a little bit. He bought a new car and wants to unload the Marauder before the new one comes. He has it listed for $4995. It seems way underpriced by me from what I have seen. It seems that the going rate would be more like 8-9k at least.
Reporters gasped at the $160,000 a hand-built custom Ford Mustang went for at the auction in Scottsdale. The same reporter nearly had a heart attack over the $4.2 million a rare 1955 Mercedes-Benz 300 SL Alloy Gullwing fetched ( it could have been $4.62 million, accounts by the same reporter differ.)
The media missed the sensation of the day: An oil burning six year old Jetta sold for $35,000. (Read More…)
There are vehicles at the auctions that are supposedly worth more dead than alive. Inop vehicles. Cars and trucks that are not running and a mere bid away from the crusher. It’s the hardest area of all to find a decent vehicle… and also the most fun.
Have you ever dreamed of owning a big red fire truck? Well here’s your golden opportunity.
Counties, cities, municipalities and parishes throughout the country get rid of their surplus government cheese through auctions. Police cars, fire trucks, commercial lawn mowers, dump trucks, confiscated merchandise, and most everything you can find inside a modern office are available for bidding.
The trick is to know when to bid enough.
Wanna buy a Hummer? You can buy them as cheap as dirt these days. There was a beautiful one that went through the block at a weekly public auction in Oakwood, GA. Nice leather interior. Well kept. The H2 models in particular were an easy piece to market and sell not too long ago… but not last Thusday. It no-saled. Not even the hope of a bid at $13k. Then came the H3. No sale at 10k. No takers. Only two no-sales from new car stores that generally sell everything. Why?
Times must be good again. Rarely has the bidding for a down and out automaker been so hot as for distressed Ssangyong in Korea. Today was the deadline for putting in binding for a majority stake in the sorry little thing. Two of the six presumptive bidders did a cop-out.
Ssangyong has been under court-led bankruptcy protection since early 2009. Today, at 0600 Zulu the bids had to be in. No messing around like with Opel in Berlin, there are Korean courts involved. (Read More…)
Six hours to showtime. We have 58 vehicles and 1 motorcycle for today’s sale. It will be a very interesting day between the first dealer conversation and the last car that rolls (or gets pushed) through the lane. We’re going to be managing an on site sale for a large financial institution that is most definitely not in the car business. Their business is the money business. They will demand 59 checks in hand within 24 hours, and these vehicles must help keep their books healthy for the end of year bonuses.
The “barn find” of a 1937 Bugatti Type 57S Atalante, that was thought to fetch $8.7m, finally went under the hammer at Bonham’s in Paris. According to the BBC, “it eventually sold for 3,417,500 euros.” At today’s rate, that’s $4.4m . . . about half. Even barn finds don’t keep their residual value as much as they used to.