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May 6th, 2021, 09:26 | #671 | |||
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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? :-(
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... another lovely day in paradise. Last edited by Othen; May 6th, 2021 at 09:28. Reason: Grammar. |
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May 6th, 2021, 10:06 | #672 | |
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I think he's exhausted all normal possibilities now so he's somewhat stuck. I would hazard a guess he'll do one of two things now, first put it on a now reserve, 99p start auction or give it a rest for a couple of months (or more!) then try and sell it again with a more realistic starting bid and much lower reserve price. With the former there's a huge risk that he only gets £6-700 and i think he knows it. With the latter he could sell it as an "ideal winter project". He might get more that way and i think that would be his best course of action. The added bonus would be that it would be another year closer (by the end of the "winter project") to be Historic.
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May 6th, 2021, 10:31 | #673 | |
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No Alan. Local windows and noticeboards are reserved thank you. Reserved by me for if I sell my 240. But I think you know that already. Stephen .
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May 6th, 2021, 11:01 | #674 | |
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You are right: it is hard to see where the seller goes from here. I can't help thinking that if he/she had started off looking for £2,000 to £2,500 the car would have been sold 4 months ago. Now he/she has exposed the car to the small number of people interested in a middling late 1980s Volvo saloon with known issues that cost a lot to get through its last MoT - and they all know its market value is something between £1,250 and £1,750. I have a feeling the seller won't hold onto the car. It cost him/her a lot to get through the MoT but he/she knows the welding work was only patched, so he/she is eating into a precious MoT pass certificate and knows it will all start again in February next year (he/she has already wasted 4 months). I think he/she wants to be shot of the car, has had a harsh lesson on its real value and will have to face reality. If he/she just chips away a little more and re-advertises with (say) a £2,500 buy-it-now price and a £1,500 reserve there is a good chance it still won't sell and another few weeks worth of MoT will be wasted. It might be more sensible for the seller to follow your first suggestion of a 99p auction - but there is a real risk it might make less than a grand. Life is full of disappointments :-( PS. This is a 1991 car Dave - a decade away from being an historic car (if the scheme is still running by then). PPS. If it sells at £600 next auction - I'll buy it!
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... another lovely day in paradise. Last edited by Othen; May 6th, 2021 at 11:08. |
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May 6th, 2021, 11:37 | #675 | |
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As you say, life is full of disappointments and i suspect that's how the seller feels at the moment. Maybe he'll cut his losses and do a low start, no reserve auction or drop the reserve considerably, the MoT is getting shorter with each day and that's going to be the crunch point for him i think.
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May 6th, 2021, 12:05 | #676 |
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Possibly illogical by you but, good one Alan. Stephen .
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May 6th, 2021, 12:31 | #677 | |
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Ah yes I missed that point. True point there. The scheme might be withdrawn. And. It might be withdrawn, retrospectively. Not a common thing in England and Wales democracy but we are in changing times. Init. Nobody should "bank on" historic" status being continued. Even if their car has already achieved that status now. Stephen .
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May 6th, 2021, 21:45 | #678 | |
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May 6th, 2021, 23:57 | #679 |
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As long as the tinworm isn't a problem, someone has a bargain there i think Alan. Will be interesting to see if it reappears in a couple of weeks looking mich brighter and shinier with a heftier price tag......................
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May 7th, 2021, 06:04 | #680 | |
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This one does put the market into perspective - and makes all those ostensibly similar cars priced at £5,000 or more look a little ridiculous. As we have seen with the broken fuel sender car, there is not much point asking wildly exaggerated prices. I'm pleased this one has been a good news story.
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