Adrian_Thompson (Forum Supporter) said:
mr2s2000elise said:
rustomatic said:
I will never accept the concept of a Ford Ranchero (stock) selling for $92k. It's just not reality. Ever.
Having sold 73 cars on BAT so far, I would say the "BAT reality" is extremely profitable for sellers, and has been extremely lucrative
Do you think everything sells on there for inflated prices? Honestly, as I said, I've been looking at 04-06 4.2L XK8's, XJS's, Lotus Esprit's, Bentley Turbo R's, Porsche 996's, and Ferrari 348's and Mondial's. My opinion for them is that they tend to be (not always) way above average condition for the market, and over the last couple of years of completed auctions they either sell for a realistic price, or get bid to a realistic price and don't sell because the reserve was too high. Many of these cars are selling on there for less than advertised prices across other platforms where people seem to think because it says Jag, Lotus, Bentley, or Ferrari on back it's worth top $$ for their ragged out non maintained beater.
I don't think everything there is inflated. However, my ROI on cars sold outside vs BAT are off the charts. I literally rented a warehouse last year during covid (pennies on the dollar here, almost free storage, locked in 36 month lease) - to literally increase inventory for BAT sales only and store all of them. I only put certain things on BAT - my demo is 25-40 year old caucasian man bun hipsters.
To give you an example, I sold 2 cars this week. One of them, a GRM member went and inspected for me in Denver. I paid $7,800 for the car. 800$transport to me. I spent $2600 on the car for repairs. It sold on BAT for $28,000. It is going back to Colorado. The $16,800 was one of my lowest profit margin on a BAT sale last 16 months.
The cars I buy on auction and sell on the side, ROI is so much lower, because most of that is the "real world prices."
BAT has been working out fantastic! So good, that I can buy a car high retail AND sell it at BAT and make a chunk. We can wax poetic about Caymans and Miata all day (have had 9 Miatas since my first 93LE), but that isn't the BAT money makers.
Last 9 cars I sold ($381,000) have ALL been to first time buyers. 8 of the 9 didn't even know anything about the specific car model. "It looked cool." "Your pics were great." "I was just surfing on line and came upon it." I don't pick the buyers, but that is what I am seeing from my POV on after sale.
So much of BAT is the story of the car, the photos, and the videos. A car sold on BAT yesterday for about 15K under what he could have gotten. He was unengaged, poor quality posts, not friendly. I could have bought the car, and resold it on BAT to make that 15K. Someone got heck of a deal, and I guarantee its back on BAT in 6 months. I was in middle of a property lease closing, and couldn't catch it, but was shocked once I got out. So I called my BAT auction guy, and chatted with him, and he said the same thing, looking at specs, it was their lowest sale in 20-21 for that model.
Even though I have had sales to Dubai, Saudi, Switzerland on BAT, most of my sales are to "bros" in Bozeman, Denver, Austin, Atlanta. None have been over 40 years old. Not a single person requested a PPI. Not a single person did an inspection. Every single person did a full covered transport to their home. Cars that I would NEVER transport enclosed, and I do a lot of enclosed horseless carriage and intercity.
Will this craze last? Probably not. I don't need it to. I am just taking advantage of the timing. The car I paid $7,800 in the example above. I have since bought 7 more of them. You see 4 a week on BAT of the same car, but they are selling at ridiculous prices.
What I do see during Covid economy, the potential BAT sellers advertise their cars elsewhere for ridiculous prices, and say "coming on BAT next week." It is just a sales strategy.
The brands you mentioned - I don't touch a single one of them (for resale), because as much as I love Hoovies garage, and need a OJ Simpson Turbo R, I don't have a "Wizard" to work on those. :)