Buying Wholesale | Page 2 | FerrariChat

Buying Wholesale

Discussion in 'Ferrari Discussion (not model specific)' started by 3POINT8, Oct 2, 2019.

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  1. 3POINT8

    3POINT8 F1 Rookie
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    #26 3POINT8, Oct 4, 2019
    The consensus I am getting is that buying wholesale at an auction is a pipe dream. I'd be competing against professionals, would have quality issues to watch out for and the savings would not be that great. I'll stick to the old fashion way of searching for the right car on the open market.
     
    technom3 likes this.
  2. Cobraownr

    Cobraownr Formula Junior
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    #27 Cobraownr, Oct 4, 2019
    This recently happened to a dealer buddy. He was high bidder at a dealer-only wholesale auction (not local to him) for a Mercedes S Class. Paid the auction company $150 for an "inspection." They said the car was OK, so he has it shipped in. Upon arrival: no cat converters! Unsellable without them. Car goes into arbitration/dispute. Major hassle, money tied up for weeks. Arbitration is like dealing with an insurance company to pay off; problematic result.

    Same scenario for another Benz S Class, same $150 inspection fee, same OK from auction house. Car arrives and is leaking from underneath like Niagara Falls. WTF?

    Bottom line: Nothing is easy. The dealer only-wholesale auction companies have many virtues, but it's always Buyer Beware regardless of who/what the seller is.
     
    BOKE and pilotoCS like this.
  3. pilotoCS

    pilotoCS F1 World Champ
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    #28 pilotoCS, Oct 4, 2019
    Right. There's a reason some cars end up at a dealer only auction. The top reason being is, for what could be many (unknown) reasons, it didn't sell after 90-120 days at the other dealer's lot. So yeah, buyer beware is the understatement of the century.
     
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  4. Solid State

    Solid State F1 Veteran
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    #29 Solid State, Oct 5, 2019
    I mean no disrespect but just pay up for the car you love. If you can't afford the buy in then the cost of exotic ownership will be a problem taking away the fun.
     
    arizonaitalian, BOKE and pilotoCS like this.
  5. IloveGT

    IloveGT Formula 3
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    #30 IloveGT, Oct 5, 2019
    He was just joking
     
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  6. 3POINT8

    3POINT8 F1 Rookie
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    #31 3POINT8, Oct 7, 2019
    I get that mentality but its really not about the money. I've paid cash for all my cars and could pay cash for my second ferrari no problem. I just had a idea of trying to save what I thought would be $40k or so by getting creative. I like finding deals and working angles. It's part of the fun. This idea doesn't seem to be viable and I'll probably end up just paying for the car I love like you said but it was worth fleshing out.
     
    Solid State likes this.
  7. henryr

    henryr Two Time F1 World Champ
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    #32 henryr, Oct 7, 2019
    a dealer selling a car with tampered federal emission controls has other issues....
     
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  8. Solid State

    Solid State F1 Veteran
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    #33 Solid State, Oct 7, 2019
    Agree there is no honor in overpaying. It would be fair to say this site has many members that are intimate with the auction process so, although there is no free lunch, its always worth the effort to be creative and throw out an idea or two. I've found that being passionate about ownership is its own return on investment. Good luck with your search. Best.
     
  9. IloveGT

    IloveGT Formula 3
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    #34 IloveGT, Oct 7, 2019
    Yes, completely agree. It's hard to get rich by being stupid with money and docile in this dog eat dog society.
     
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