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Automotive Discussions Car People talking about the Car Business – This is the place where it happens |
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03-13-2014, 08:23 PM | #1 |
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Join Date: Mar 2014
Posts: 41
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Auction prices as crazy as I've seen them
I think the combination of horrible weather grinding the business to a halt right before tax season has really made things even more crazy than usual this year. There was less cars to stock up in anticipation.
If its Japanese and under 100,000 miles, it's selling for retail or above to a buy here pay here. Thank goodness Buy Here Pay Heres shy away from old high end European cars or I'd be toast. |
03-14-2014, 12:27 PM | #2 |
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Join Date: Nov 2007
Posts: 14,869
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Thanks for starting the thread.
I think it's fascinating to study auction trends and try to forecast when car values will reach their seasonal low and then determine what point they'll reach their seasonal high. I agree that lower dollar cars that appeal to people who are looking to spend their tax return tend to be hot right now. If a dealer had the capital and the space I'm convinced there's money to be made by stocking up with used cars when the prices are low in November and December and then selling them in March and April. Granted, that theory would likely only work with less expensive cars where the exposure to book-hits and flooring expense is lower. Concerning the European brands, are there any that you shy away from or do you find that the repair/reconditioning/reliability is about the same for all of the European OEMs? |
03-15-2014, 10:59 PM | #3 | |
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Join Date: Mar 2014
Posts: 41
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Quote:
For example, I looking looking at BMW V8 or V12 engined cars at auction. Seems last one of them has 20 mechanic labor hours worth of leaks after they get 5+ years old. Inline 6 cars all day long. With the horrific winter we had this year, I might as well had shut down retail operations from December 15th to February 14th. Phone is ringing off the hook now. Certainly no reason to wholesale. |
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