Subject: Re: Lagondas at auctions versus direct selling
Peter hi
The two 2.0 litre tourers are like chalk and cheese.
1. The H&H car had a non-original engine, but a fixed reserve of ca. £65k (my guestimate), hence a no ale at £60k.
2. The Bonhams 2.0 litre came in with a low reserve, a typical and very dangerous tatic from Bonham's, great for the potential buyer if the room does not warm to the car. The car sold bang on its lower price, with clutch problems and possibly other unknown issues. Caveat Emptor when buying such a car.
3. The V12 was taken to Bonham's by the vendor for the following reasons: He contacted BONHAMS; COYS; and H&H. The latter would not even visit without committing to auction !
COYS and BONHAMS both quoted similar costs for transport and commission, with BONHAMS then offering free transport; reduced catalogue entry costs; and agreed to insure the car comprehensively until end of May.
However, such freebies cost, with a very low agreed reserve, and no doubt a 20% leeway on top of that as well. This is another small print tactic of Bonham's, I learnt at my own personal cost a few years ago.
There are of course the exceptions, auctions like the AML Bonham's auction springs to mind. But then again, one can see that a fair few of the pre-sale estimates are generally low, and indicate that cars are here to sell, and such prices are generally comfortably exceeded.
Like everything if you want a quick sale and money in the bank, sell at auction, but pick your venue and auctioneer with care. if you have time, place adverts on the internet or allow your car to be sold on a sale/return basis as many do from a premier car dealer...
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times. Last edit on Apr 29, 2013 5:05 pm by SRD.