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Buying and Selling Vehicles Online (eBay, etc.)

225 messages,  Last post on Sep 24, 2009 at 8:13 AM

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#21 of 225 bid vs. market by stickguy Nov 30, 2003 (7:45 pm)
Still seems like there are a lot of reserve cars that don't sell, and don't seem to get that close to "market". I recently bid on a BMW (2000 3 series) that I was interested in, but only if I got a "steal" on it. It was about an hour away, so I could have gone to see it.   This was from a power seller (?), perfect feedback, so I was as confident on the validity of the car as possible on E-bay.   Anyway, I was high bidder at $16,500 (probably would have gone higher, but got wind of it late). Per Terry (RRoyce on real world trade in values), wholesale was about 17K (IIRC), dealer maybe 19,900 to kick it. Needless to say, it was a no sale. Spoke to seller, and they had a "bottom line" slaes price of about 20.5, so not too far out of line.   Well, it got relisted, and no saled at 15,300 (I didn't bid). So, as far as Ebay is concerned, this is about a 16K car (+/- 500 or so). I would have snapped this up at 16.5 (maybe a bit more), but at 20+, might as well buy certified fron a dealer.   And no, I'm not really brave enough to buy sight unseen, slap it on a trailer and hop I like it.   What does this all mean? I have no freakin idea, but it is handy to track auctions on cars you are interested in, to get a feel for the market, even if you aren't planning to bid.   I'll tell the story some other time about the '97 Volvo in Florida I came within 2 minutes and $100 of buying, kinda by "accident", but remember to be careful of what you low ball bid on, becasue you might win it.
#22 of 225 stickguy, by landru2 Nov 30, 2003 (9:42 pm)
I haven't followed many cars on ebay but I would expect that, on average, that bid prices would be lower than local market prices. It's like when a customer phones wanting an appraisal on a used car over the phone - I don't get too motivated until I see it and touch it.
#23 of 225 depends by qbrozen Dec 01, 2003 (5:13 am)
I've actually bee watching some real low-end cars lately just to get an idea of the market on them (i.e., Hyundai Accent and Kia Rio). I figured nobody would be bidding on these things and they'd be going for a steal (if ANY price on a RIO is a steal, that is). Seems to me people are paying more than I could get them for at the local MegaCarMart.
#24 of 225 Spread between bid and market value by dtran2149 Dec 01, 2003 (10:42 am)
I think alot of the spread between bid values and market value are buyers handicapping a car for the "sight unseen" aspect of the purchasing process. If I were a seller, I would place my reserve at somewhere between $500+ above my wholesale purchase + prep cost or close to my estimate of where a private party transaction would occur. Once again, I think alot of Ebay's value is in providing an inventory notice to a large pool of potential buyers for follow-up the traditional way.
#25 of 225 my view by jlawrence01 Dec 01, 2003 (11:30 pm)
I use Ebay to buy a lot of things from private buyers.   I have friend who collect exotic cars and OCCASIONALLY purchase them through EBay after he has flown out to see the vehicle. He will not buy a car without a personal inspection except in rare cases. He has the money and the time to do that.   However, unless you live in Podunk, MT or some remote outpost, I think that it is kind of crazy to buy a garden variety sedan through EBay when you can go out and kick the tires in person on hundreds of vehicles.   Now if you are looking for a '59 Jaguar ...
#26 of 225 Bidding .. by rroyce10 Dec 02, 2003 (8:17 am)
...... There can be some nice vehicles on eBay, having bought and sold 25+ vehicles it's a another good market ..             But the funny part about eBay in the last year or so is that more and more dealers use it (which is fine) and most of the private sellers try to compete with their inflated prices and most have their reserves pumped up .. your there to sell it, not to make a planter out of it, so the ego needs to be parked when you go to display it, half of something is alot better than half of nothing ..            Perhaps I didn't read Mr_Shiftrights post correctly .. but I don't feel eBay is Any indication of real market values. Whether you are looking at 3,000 vehicles in Atlanta or 3,500 in Dallas, dealers, as well privates get caught up in this "bevy of buying", especially for the "rookies" .. there has been quite a few times that I have been to a large auction, maybe running 4,0/5,000 vehicles and some of the dealers will buy right out of the book and I have gone home empty handed .. but the point is, you just have to know when to stop .l.o.l.                      Terry.
#27 of 225 Buyer/Seller Traits by dtran2149 Dec 02, 2003 (1:50 pm)
rroyce10 - the market is comprised of both smart and not so smart buyers and sellers. The more efficient the market, the higher the percentage of smart sellers and buyers. In the car market, there is a really huge range. While I may laugh at the not so smart buyer or seller, the reality is that the more not so smart buyers or sellers, the better for me. I would make alot less money as a car seller if everyone was a sharp whipper-snapper.   Regarding Ebay, I don't think the prices are indicative, but because they're not, by nature there are opporunities (albeit smaller and few). The reality is that it's more about gaining exposure to potential buyers for the sellers than anything else. This is true for both the rare cars as well as the not so rare cars. I used to look daily at BMW 3-series as well which is by no means a rare car. Did I ever find an appetizing deal? No, except I would sometimes find something pleasant to daydream about like a fine specimen late 80's/90's well maintained 3-series convertible. But even there, the type of private seller who lists on Ebay has demonstrated they are willing to put in the extra work to make $$ on their car vs. trade-in or a simple classified ad. Also, shipping combined with "sight unseen" make most cars less attractive than their local newspaper listed counterparts.
#28 of 225 Hmm. by lancerfixer Dec 03, 2003 (7:43 pm)
Interestingly, I've found the opposite phenomenon. I've been watching the Saab 9-5 market for a couple months now, and the "Buy it Now" prices listed are, by and large, far more attractive than what I've been seeing locally (by locally, I mean "the state of Iowa, plus Chicago and Minneapolis.") This isn't Massachusetts, where there's a Saab dealer in every other town, and perhaps the dealers play the "rarity" card around here; I don't know.
#29 of 225 Lance .. by rroyce10 Dec 04, 2003 (4:05 am)
...... Good point .. I sometimes forget that there is some folks that live in Utah, Iowa .. Fargo, ND ....                          Terry.
#30 of 225 Terry by lancerfixer Dec 04, 2003 (6:10 am)
Yeah, but I'd find the "rarity card" more beleivable if I were only looking in Iowa. The fact that I'm including Chicago and Minneapolis (both equidistant, a little under four hours driving time) would, I think, tend to negate that.

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