At The Auctions

[Exminiman]

It won't be £6k profit after paying auction fees, pre-sale prep and other costs...but still a nice profit. There is another up at £20K at the moment which is very nice too. They do seem cheap compared to a "S" or buying any other restoration project and spending £££ on bring to the same standard.

And VAT.

[Exminiman]

Price at Auction should always be lower as it carries more risk, the seller will also be knocked down and it hasn't’ t sold yet, good luck to him, if he makes a profit. Any of us could of bid for it

[Pete]

This was a bit of a bargain at £9,200 with fees.
https://auctions.hampsonauctions.com/au ... /?lot=1818

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Back up for sale with a trader

I had a good look at that and was tempted. Innocentis are very hard to price and there’s a few for sale, £14,995 puts it right at the top end. Always fancied one if mainly for the dash.

Yeah what a great buy that was, absolute bargain. That particular auction offered up some similar bargain Mins last year at Oulton aswell. I couldn’t live with the peach colour (says the bloke with the granny’s bathroom turqoise Mini ) but a lovely car it was!

[S33blo]

The inno was at brands hatch today, looks like it’s been sold. Actually looked very nice from the passing glance I got at it

IMG_8726.jpeg

[cockney21]

I saw a post from the seller of the Innocenti, not happy with the selling process via auction, and advises against others following the same path.
I think the problem with a rarer car is that you do need to wait for the right buyer, there will always be one out there. We sold a very low mileage Nissan SX200 to a chap in the South of France a couple of years ago after struggling for months and nearly going to auction in the UK.

[Exminiman]

What was he not happy about ? - looks like it was sold without a reserve, which as you say, is not wise with a rarer car.

[cockney21]

I think he took the advice of the auction company on how best to sell the car, they are supposed to be the experts at the end of the day. I have to say that I didn't see it coming up for auction so perhaps it did not reach a very wide audience of potential buyers. Most of the other auctioneers normally have pre sale or car specific walk YouTube clips which normally find their way to Facebook and forums.

[Brynmor]

Hampsons have an unusual usp with regards their auction...generally lots of the stock is made up of vehicles that have hung around on Facebook Marketplace, ebay etc, where the auction house team get in contact with buyers. There are exceptions of course where the seller contacts them. I do know their Mini specialist left about 12 mths ago and they're currently advertising for a new member of staff. I would agree though their advertising is pretty poor for the cars they sell.

The pressure on the seller to list without reserve from any auction house is huge and if you're new to the game it would be very easy to get your mind swayed to do just that.

In regards that Innocenti a good auction sale price would have been circa £12-13k with regular dealer retail about £15-£17k, it went low for sure but not as horrendous as some vehicles there (The Ferrari at £25k was insane, whilst needing some love it was easily worth another £15k). Interesting to note the Island Blue Mk2 Cooper with a guide of circa £22k didn't get anywhere near it on the day but has sold post auction at £19,200 which is decent money.

[cockney21]

A little more on the Innocenti sale. It looks like the auction house told the owner that a non reserve format would be best as the car had received a lot of interest and the figure that he wanted to achieve should not be a problem, and they expected to exceed his "bottom line". Plainly this was not the case and he would most certainly not have gone this route if the he had known the outcome. I think that the recent move to making auctions look like exciting events with pre and live video coverage has made them feel like the best way to buy and sell classics...to me they seem a real gamble with good cars sometimes not making their true value and sometimes some real tat making too much. Just my thoughts of course.

[InnoCooperExport]

A little more on the Innocenti sale. It looks like the auction house told the owner that a non reserve format would be best as the car had received a lot of interest and the figure that he wanted to achieve should not be a problem, and they expected to exceed his "bottom line". Plainly this was not the case and he would most certainly not have gone this route if the he had known the outcome. I think that the recent move to making auctions look like exciting events with pre and live video coverage has made them feel like the best way to buy and sell classics...to me they seem a real gamble with good cars sometimes not making their true value and sometimes some real tat making too much. Just my thoughts of course.

I was ready to pick this car apart (many Inno's are terribly lacking on details) but this car is spot on. Seeing this story tells whose car this is and I am not surprised it is as good as it is. Someone got a bargain, very sad for the way this went. I really feel for the previous owner.

[beardylonodn]

Side note, as buyer I’d rather buy from a private owner.

Does anyone know if auctions are exempt from Consumer Rights Act 2015? This is the act that protects when buying from a dealer OR private seller, and if a fault is found, the buyer has 6 months from date of transaction to prove if the fault which was not disclosed before the vehicle was sold.

The disclaimer on the car and classic auction listings seems to imply so, which I guess is why so many sellers use it, as there’s no come back!

“This vehicle is “Sold As Seen”, on an “As Is Where Is’ basis and without warranty. Photos and descriptions are solely for guidance purposes and it's customary to carry out a full inspection of the vehicle prior to purchase for your own peace of mind.”

I thought “sold as seen” was longer an accepted defence, but maybe, as it’s an auction, this law does not apply?

A little more on the Innocenti sale. It looks like the auction house told the owner that a non reserve format would be best as the car had received a lot of interest and the figure that he wanted to achieve should not be a problem, and they expected to exceed his "bottom line". Plainly this was not the case and he would most certainly not have gone this route if the he had known the outcome. I think that the recent move to making auctions look like exciting events with pre and live video coverage has made them feel like the best way to buy and sell classics...to me they seem a real gamble with good cars sometimes not making their true value and sometimes some real tat making too much. Just my thoughts of course.

[cockney21]

I think the auction house gets around any come back by being only an agent who only finds a buyer for the seller, they in theory only put the two together and they are not selling the car. I should think most auction houses know the law inside out as everyone knows that some very iffy stuff can go through auctions and it does so as the buyer is responsible to make their own mind up about what they are buying.

I also think that trying to apply the Consumer Law to a private transaction would be very difficult, especially with an old vehicle, unless the seller made very specific statements that could be proved without doubt to be false. Hence the higher price from a dealer where the law is more on the consumers side.

[beardylonodn]

Good points!

I think the auction house gets around any come back by being only an agent who only finds a buyer for the seller, they in theory only put the two together and they are not selling the car. I should think most auction houses know the law inside out as everyone knows that some very iffy stuff can go through auctions and it does so as the buyer is responsible to make their own mind up about what they are buying.

I also think that trying to apply the Consumer Law to a private transaction would be very difficult, especially with an old vehicle, unless the seller made very specific statements that could be proved without doubt to be false. Hence the higher price from a dealer where the law is more on the consumers side.

[WMU 211G]

Nice looking '60 Mk1 coming up at Mathewson's auction...

https://www.youtube.com/watch?v=T2G2xJRvDI4

[NZmember]

https://cars.bonhams.com/auction/29334/ ... sah-27605/

[mk1coopers]

https://cars.bonhams.com/auction/29334/ ... sah-27605/

A very fair estimate for such an important car, the fantasy list of Minis that I would like to own is now very much shorter than it was in the past with all the information out there on cars that aren’t quite what they seem to be, this car is right up there on the list, along with Marks old Speedwell demo car, sadly I’d have to either sell something I already have, or 6 numbers need to come up between now and the Revival

Good luck with the sale Pete, and to the new owner, whoever that me be, good choice

[Pete]

It’s a win - win for me really, I’ve thoroughly enjoyed the journey so far and should the car not sell I’ll have got the story out to a wider audience at a very appropriate venue who might relate to it more than most Mini guys do and I’ll get to continue that journey if that’s the case with a few subtle changes to the car. If it does sell I’ve got plans!!! So either way I’m happy. Be nice to take Minty to where Anita first raced it 60 years ago aswell!

[Andrew1967]

I heard the other day that the white mk1 S project recently sold at the Anglia car auctions at Kings Lynn didn’t have any internals in the engine and gearbox . Looked complete from the outside !!

[Nick W]

I heard the other day that the white mk1 S project recently sold at the Anglia car auctions at Kings Lynn didn’t have any internals in the engine and gearbox . Looked complete from the outside !!

What a nightmare!

[Exminiman]

I heard the other day that the white mk1 S project recently sold at the Anglia car auctions at Kings Lynn didn’t have any internals in the engine and gearbox . Looked complete from the outside !!

Do they have an appraisal sheet that the sellers fills in ?

If so wonder what they put about the engine box