At The Auctions

[steve1071]

It looks like a late entry so not many will have viewed it.

What do we think it will make?

[Old English White]

Shall I start then
I'll say 6 grand because that is at least double what I think it is really worth.

[surfblue63]

It will get bid to 6 grand, not meet reserve and then get sold after the sale for 10 grand.

[steve1071]

That’s me out then!

[Pandora]

That is normal practice in any auction. The auctioneer's sole aim after all is to sell the car and make money.

You can't sell it for less than the agreed return to the vendor (well you can, if you are prepared to take a hit out of the buyers commission to make up the reserve)

But it's in the auctioneer's interest to get a sale, so of course they note the high bidder and then afterwards negotiate with the seller to see if they can agree a deal. If it doesn't sell, the auctioneer makes no money (but still has their costs)

If a car is rolled over to the next sale it's because the vendor hasn't been prepared to lower their price / expectations, as is their right of course, but still wants to sell. I'm not aware of any auction house that would not first try to do a deal with the current interested party(s). That's in the best interest of all parties - seller, buyer AND auction house / middle man.

And yes, it's the same reason auction houses try to get sellers to lower their reserves before the sale. Some folk see it as a hard sell tactic, but then are happy to negotiate afterwards, which is a much weaker position when you car has just not sold......

So knocking down provisional sales is not always a reflection of the auctioneer, per say, but more of over hopeful sellers and / or low interest from buyers in the room. You can't NOT sell a car that's met the reserve in the hope of making more in a future sale, OR bid it a penny beyond the reserve if there is only one bidder (and even that's a bit of a grey area)

Al

[surfblue63]

But then are some of the sellers not guided by the auction house as to the value of the car and set their price according to what the auctioneer has advised? I know we do not see the negotiations on the TV show, but it appears to me that some of the vendors do not have the slightest idea of what their car is worth.

When looking at the Mathewsons catalogue there are many lots which do not have a guide price. In most auction houses this can signify a No Reserve sale, but at Mathewsons it indicates the following:

Submit Best Bid – The highest bid at the fall of the hammer will be submitted to the vendor.

Suggesting that the sale will be negotiated after the sale for a higher price than the item was bid to.

[Exminiman]

But then are some of the sellers not guided by the auction house as to the value of the car and set their price according to what the auctioneer has advised? I know we do not see the negotiations on the TV show, but it appears to me that some of the vendors do not have the slightest idea of what their car is worth.

When looking at the Mathewsons catalogue there are many lots which do not have a guide price. In most auction houses this can signify a No Reserve sale, but at Mathewsons it indicates the following:

Submit Best Bid – The highest bid at the fall of the hammer will be submitted to the vendor.

Suggesting that the sale will be negotiated after the sale for a higher price than the item was bid to.

Yes i saw that and thought how odd it was, is that really an auction ?

So you bid on a car but dont know if you have won it!

[Pandora]

You'd be amazed how many, often very intelligent, rational sellers don't take the advice of the auction house who know the market.

It's a commercial business, the auction house has to make money and folk quibble about the 'high' commission rates but don't think of the costs involved, the wages, the venue, the advertising (and the experience) and want the price they see in dealer' adverts as the reserve. Where do they think these dealers buy the stock? do they always get full asking price? do THEY do it for love? who pays their transport, storage.........

I genuinely felt a lot of vendors thought the entire commercial network that underpins the classic car scene / industry thought we should all be doing it as a public service to enthusiasts (who I'm sure were also hoping their hobby would turn them a profit and not cost them over the course of their ownership).

It is not a part of the job I enjoyed. The showroom side, or perhaps just our customers, though just as commercial a venture was a little more open and educated for want of a better description. I think that maybe the difference that it was a more office based negotiation, rather than the rushed few moments on the rostrum made all the difference. Both sides were involved concurrently

I'm not familiar with any other auction houses running what amounts to a blind auction. I suppose it's another means of sale, but not sure how they hold the vendor against just saying 'thanks but no thanks' if they don't have a reserve (i.e. a contract) over at best a 'what I'd like to consider'?

Odd

Al

[Exminiman]

Maybe making the programme has be more lucrative than getting a sales commission on a car ?

They need a certain amount of cars to make the programme, got to be easier to persuade potential sellers to put lots into the auction, if they can pick and choose if they sell at the end …

[Aginley]

Pickup made £7200 plus commission

[woodypup59]

Maybe making the programme has be more lucrative than getting a sales commission on a car ?

They need a certain amount of cars to make the programme, got to be easier to persuade potential sellers to put lots into the auction, if they can pick and choose if they sell at the end …

Add on £35 for a bidders card.

[woodypup59]

Did anyone see what the black Moke went for ? Lot 244.

[Hippo]

11750 plus commission and vat.

[Hippo]

https://www.historics.co.uk/buying/auct ... -998cc-wp/

[Pete]

Maybe making the programme has be more lucrative than getting a sales commission on a car ?

They need a certain amount of cars to make the programme, got to be easier to persuade potential sellers to put lots into the auction, if they can pick and choose if they sell at the end …

Mathewson’s didn’t even try to sell me that red misdescribed Mk1 S (GT engine) that I went to “view” (couldn’t actually get inside it!), I think the TV thing has gone to their heads. Arrogance didn’t cover it!

[App K]

Just sold a car through them. No hassle whatsoever.
I want to sell…they want to sell it. That’s how it works isn’t it.

[66Traveller]

https://www.historics.co.uk/buying/auct ... -998cc-wp/

Is it me or does that have the wrong sunvisors for a 1965 car (also no clips or holes on the cant rail). Also the wrong mirror? The chassis plate still has the protective plastic on it too...

[Exminiman]

https://www.historics.co.uk/buying/auct ... -998cc-wp/

Is it me or does that have the wrong sunvisors for a 1965 car (also no clips or holes on the cant rail). Also the wrong mirror? The chassis plate still has the protective plastic on it too...

Dry

[Andrew1967]

Of course it depends on when it was actually built not registered

[66Traveller]

Of course it depends on when it was actually built not registered

It does indeed. But if it was built in 64 it would have the early sun visors with the central chromed bracket (which it doesn't) - it has the 66 on type....