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Consignment fees

Discussion in 'Ferrari Discussion (not model specific)' started by BoulderFCar, Oct 20, 2007.

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  1. BoulderFCar

    BoulderFCar F1 World Champ
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    Tom
    #1 BoulderFCar, Oct 20, 2007
    I've never sold or bought a car that was on consignment at a dealer but I'm looking at one now. What is the range of consignment fee that a seller pays on an FCar at a dealer? Thanks.
     
  2. rareguitar

    rareguitar Formula Junior

    May 21, 2006
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    Brad King
    #2 rareguitar, Oct 20, 2007
    At a dealer it is usually 8-10%. Some of the dealers will also hit you up for the next service due before they will put it on consignment as well as their inspection and detail.

    This is FoW (Ferrari of Washington) policy and I bought my car from them. Their salesman actually said before they would put my 360 Spider I bought from them on consignment I would have to pay them to do the 121 point inspection and pay to redo the 30K belt service again even though it had already been done before I bought it from them and was their big selling point when I bought it the first time around.

    Suffice to say I did not consign it with them and wont do business with them in the future.

    Brad
     
  3. RossoCorsaItaly

    RossoCorsaItaly F1 Rookie
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    #3 RossoCorsaItaly, Oct 20, 2007
    $30-99k 8-10%

    $100-200k - 6%

    $200k+ - 3%

    This is nothing official this is just what I've been told by a few authorized dealers in the business.
     
  4. dm_n_stuff

    dm_n_stuff Four Time F1 World Champ
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    Dave M.
    #4 dm_n_stuff, Oct 20, 2007
    Algar Ferrari no longer does consignment deals.

    Period.

    End of story.

    Ask me how I know.

    Dave
     
  5. testarob

    testarob F1 Rookie

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    #5 testarob, Oct 20, 2007
    How do you know?
     
  6. BoulderFCar

    BoulderFCar F1 World Champ
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    #6 BoulderFCar, Oct 21, 2007
    Thanks for the feedback. I'm surprised the fees are as high as they are. 8-10% seems pretty deep on a 200K car. The sliding scale seems fair for the dealer and seller.

    One other question. How long does the dealer have your car tied up for? I wouldn't try to go around a dealer as that's a bad karma deal but a seller could lose buyers if the dealer has the vehicle tied up at a premium.

    The net for me on the car that I am looking at is that don't think there is much price flexibility by the time you factor the fees in. The car is about $10-20K heavy on the price and the fee has to be a part of that. Thanks.
     
  7. Yamaric

    Yamaric Karting

    Apr 7, 2007
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    Richard Dalgleish
    #7 Yamaric, Oct 21, 2007
    Hi Tom

    Kevin is pretty much right on with the fee's. But there are differences in Brokers as well.

    Some brokers want you to send your car to them at your cost, as well as pay a consingment fee up front. (Approx $500).
    the only benefit to this, is that you may get some drive by traffic if the broker was in a Excellent Geographical Location.

    Much of the Ferrari buying now is researched on-line, and tranactions are done from within a brokers clientel list or from a search for a specific Make/model/color/mileage car.

    I would be pleased assist you in finding your GTB a new home. I do not charge consignment fees and would prefer that you leave your 355 in the security of your own home, untill such time which we find a serious prequalified buyer. PM me if I may help, and good luck on the sale of your f-car

    Richard
     
  8. BoulderFCar

    BoulderFCar F1 World Champ
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    #8 BoulderFCar, Oct 21, 2007
    I wasn't clear. The 355 has been gone for a long time. I'm looking at buying a F430 that is consigned. Thanks.
     
  9. Yamaric

    Yamaric Karting

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    #9 Yamaric, Oct 21, 2007
    Hi Tom

    No problem, If I can help in any way please don't hesitate to call me.

    Richard
     
  10. Under PSI

    Under PSI F1 Rookie

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    #10 Under PSI, Oct 21, 2007
    I was considering selling my 360 via consignment. I was offered different options by different dealers. The local Ferrari dealer did not want to do it all, several local, and not local, high end dealers asked that I set a reasonable "bottom dollar" and they kept anything above that, others wanted a certain percentage price from 5-8%. Many on them also told me they were willing to make some pretty "slim" deals in order to keep their customers happy and gain customer loyalty. I think I have the car sold on my own at this point, but in retrospect, I almost wish I had done it on consignment just because of the hassle of the whole thing.
     

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