575M

Anyone know anything about this specific car? I offered the dealer 115 and then 125 and they told me to walk pretty rudely. The car is on consignment, does anyone know the owner i'd much prefer to buy the car directly from him?


http://continentalautosports.com/inventory/details.aspx?id=NLIL0007.5/C126809

 

If I were selling the car and it was priced at 145 and you offered 115 I would tell you rudely to walk. When you offered 125 I would tell you the exact same thing with a "don't bother with any other offer, it's not for sale to you".



your offer prices were waaaay to far from the asking price.

 

the dealer wouldn't feel bad making u the same bids....

 

beautiful car though

 

Agreed, if i'm not completely out of touch the car is worth about $125,000, so their asking price is unrealistically high, also they've had the car now for somewhere in the 1.5-2+ month range which should probably tell them something about their asking price.

 

i agree. cauley has a silver 550 that i considered making an offer on but it is also priced so way out range that i decided not to even bother.

 

No FHP, no F1, no modular wheels. $125K tops. Let him keep looking for another buyer.

 

That makes no sense. Asking prices are called "asking" for a reason. A seller can ask for whatever he/she wants. This is particularly true when a vehicle is consigned. The dealer has no money invested in the car and/or is not paying floorplan, so often the dealer will ask for the moon hoping someone without knowledge of the market is going to pay up. If the car doesn't sell, the dealer can always tell the owner to come pick it up. No harm, no foul.

That is the moral hazard problem in these consigned deals. The dealer often wants to make $25k-30k on a car or won't bother. He can always tell the owner to come get it if it does not sell for that kind of premium.

The owner, however, has other motivations.

Personally, I think it is the obligation of the dealer to take every bona fide offer to an owner no matter how low, unless there is a pre-arrangement from the owner where he/she says "don't come to me with any offers below xxx."

In this case Henryr and Grigio are correct. This 575 is priced $20k over market. Let me dealer find some schmuck who wants to pay it, but he should still bring the offer to the owner so the owner has the final say.

ketel

 

To me it makes perfect sense.

If I was selling the car at $145 and someone offered $115 I would tell then to take a hike. $125 and that same person would get the same response from me.


If I was selling the car at $145 and someone offered $140 I would say it was a done deal. To ME $20-$30k off the price is an insult. It makes zero difference to me what the market price is on the car because my posted price is what I want for the car. Would I probably sit on the car at $145 for longer than if it was priced at $125? Probably, but that is my perogative. Not every seller is catering to the bargain/market shopper.

When I sell things (anything) I don't mind knocking a little off the price but the $20-$30k off the original price is a little more than what I would take off something I was selling.

 

That car has been sitting around CAS since Jan/08 if not before. I think we all know why. But I agree that the dealer has the obligation to bring all serious offers to the client. Obviously your offer was not considered to be serious enough.

 

hello,

- i'm probably missing something here, but i do not know why this 575M has been at Continental this long. if anything, i would guess the diamond quilting gone mad on the interior? 250 rear shelf, fine. but they went way overboard on this one.


thanks.

 

I think I've seen that car before (or at least a similar diamond interior). I think it was for sale about a year ago (when I bought mine)?

Anyway, I think the car is worth more than $125k with the fresh service. IMO, a six speed car is worth more than an F1. I think the colors are working against this car more than anything.

-dsd

 

Exactly. There is no need to be rude. If the guy was making a serious offer at those levels then a kind no thank you would be fine. There is no need to be a jerk about it. Frankly if someone treated me like that I would never buy anything from them and they would not have to worry about getting another offer from me. I don't think a $125k offer is that far off either. The car does not have the FHP, or (so it seems from what was written) many/any other SERIOUS options on it to make it worth much more...certainly not worth $145k or someone would have jumped on it already.

 

I think its fine to refuse an offer and even hint that it is waaay too low. But you rarely grow a business by kicking people to the curb.

Also you refer to the bargain/market shopper. I believe these are two separate groups. The bargain shopper asks if he can get this car <$100k because 550s go for that. Market shoppers are different, they just dont want to overpay. Just my $.02.

 

Sorry, bud, but I think you're outgunned on this thread. It SHOULD make a difference what the market price is for what you're selling. If you are way over market, basically you are just wasting a lot of people's time.

Hell, if someone wants to offer me $100k for my Range Rover, I'm a seller. But, I am not going to run an ad asking $100 grand, unless I want a lot of calls from people telling me what an ASS I am.

A seller should know what market price is. If they want to ask the moon, fine, but don't kick sand in someone's face when they OFFER MARKET PRICE!. If they offered $75k, fine, tell them to hit the bricks. Otherwise, you are the one being the ass.

Also, Karma can be a drag. I have seen more than a few times when an out-of-touch owner tried to make a home run on a vehicle and told all the people offering market price to piss off. Once reality set in, he wanted to go back to those bidders weeks later and see if they were still interested in the vehicle at the earlier bid. Those bidders, rightfully so, told the owner to go screw himself. The owner could have sold the vehicle months earlier for the right (market) price but he held out. That's just dumb, short term thinking. Now, assuming there is a bidder in the original bunch that still wants the vehicle, he should REALLY low-ball him just on general principle.

ketel

 

imho, i think it makes the dealer look like an idiot. they should know the market.

reminds me of FOA. they have a yellow 01 550 listed at dreamland pricing.

 

FOH did the same thing with a 612. They had it for 7-8 months.

 

That proves my point. While I know nothing about this 612 or FOH, I'd wager that that was a consigned vehicle. Why? Because I can't imagine FOH or any other dealer tying up 612-type money and paying floorplan interest on it for 7-8 months while it sat waiting for a buyer at a dreamland price. If it was their 612, they would have quietly sold it at market, gotten their money out, made a small profit, and put that money into another. For what a dealer would tie up in one 612 for 8 months he could buy and flip a dozen 328s, etc.

But, because it was probably some client's 612, they were happy to let it sit in the showroom until it sold for the king size lick they wanted to make on the car. In the meantime, having a gleaming 612 in the showroom doesn't hurt foot traffic and can help the dealer sell other cars he actually owns and is paying interest on.

ketel

 

you are mostly right if I had to guess. One thing FOH does not do is sell older models. 360,430, 599 and 612's are all they carry. Wish I knew what they sold the 612 for.

 

does the diamond quilting add or subtract from this car's value? at least if it was done more tastefully?

 

I would not even call the dealer because he's asking waaaaay to much for the car. I would suspect that either he doesn't know his product or he's a cheat. Any dealer who is offended by any offer needs to get out of the business. The second offer at $125K should have been met with something like, can you come of to $_____? Telling a qualified buyer to walk is amateurish.

 

The dealer does have an obligation to convey all offers to the seller. You never tell anyone to take a hike, you simply counter the offer.

Don't take low ball offers personally, it's simply business.

Who knows, the seller may be forced to take much less than his "asking price" because of his circumstances.

I've had clients who have been on both sides of this equation. You'll never know unless you ask.

 

Exactly...

 

check out this car, we just got in. its a 2004 575m f1 with 5,000 miles.
its in your price range too

http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&ih=001&sspagename=STRK%3AMESE%3AIT&viewitem=&item=110248009910&rd=1

 

Good point. Many years ago I put an offer in on a house. The realtor refused to take my offer(actually illegal but, I didn't know any better). Later I found out that the house sold for exactly my offering price. Always present an offer. It is the buyer who will decide when to take that hike.