Quote:
Originally Posted by Othen
So, our old friend with the broken fuel gauge is on the market again (maybe the fifth attempt?). This time with a £1,000 starting price and a £3,000 price - which is I suppose considerably less than the 'absolutely final' reduction we had to £4,150 a month or so ago:
https://www.ebay.co.uk/itm/353471605...m=353471605623
I suppose the car will find it value in the end - but bearing in mind last time it only managed bids up to £1,750 the current asking price still seems optimistic. I seem to recall from the outset I thought this motor car would make £2,000 to £2,500 - I still think that is where it will end up :-) |
Quote:
Originally Posted by Laird Scooby
My experience of ebay suggests that it will struggle to even reach £1750 as previous bidders will have found other cars to bid on and won't be interested in this one. There will be a few that had their heart set on this car - for a budget though and i suspect that budget is in the £12-1500 range and still likely below his reserve.
If you're adding a reserve, start the bidding really low like 99p, it won't sell until the reserve is met so why put buyers off with a higher initial bid unless that is your reserve.
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Quote:
Originally Posted by Othen
I agree with you about the eBay experience Dave. This motor car will appeal to a very small group of bidders, most of whom will have noticed it being offered for sale 5 or 6 times at progressively lower prices. It may struggle to get off the ground this time, as you point out: anyone interested would have seen the bidding only make £1750 last time and will consider that the ceiling. They will also have seen the seller drop his price by £500 every couple of weeks and so might be waiting for it to get to the £1,500 range.
We also saw that car from Bude sell for only a grand last week, and it was about the same quality (maybe a bit better). Anyone serious about buying a 1980s 240 will have noticed that.
I can't help thinking that if the seller had started off in the £2,000 to £2,500 price range the car would have been sold by now. Instead he/she tried double that and has now almost exhausted the small market's patience. We see this all the time though - there are lots of middling to good cars being offered at £6,000 to £11,500 that never sell.
Ho hum.
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The eBay auction for our old friend with the broken fuel gauge has just ended, and this time the bidding only got to £1288 (not meeting the reserve), exactly as we had discussed in the above. Remember this is a car that started at £5,000, was reduced to an absolutely final price of £4,150, then buy-it-now prices of £3,500 and £3,000 - and been tried at sale or auction 5 or 6 times.
In my humble opinion the seller's gross overestimation of his car's value has led to bidder fatigue and everyone that might have been interested has just become bored with it being offered again and again but never meeting an unrealistic reserve.
This supports my hypothesis that many 240 sellers think their cars are worth far more than they really are. This is a middling car worth about £1,500, so what made the owner think it was worth £5,000 in the first place.
I'm not sure where the owner goes from here, maybe a postcard on the local post office notice board?
:-(