F-Chat Live Auction - Sat Dec 10 - 2pm EST - Ferrari 328 GTS - Only 13k miles | Page 2 | FerrariChat

F-Chat Live Auction - Sat Dec 10 - 2pm EST - Ferrari 328 GTS - Only 13k miles

Discussion in 'Cars' started by Yellow Compass, Dec 5, 2016.

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  1. Yellow Compass

    Yellow Compass F1 Veteran
    Sponsor

    Nov 23, 2015
    7,500
    NYC Area
    Full Name:
    Yellow Compass Supercars
    Hi everyone , bidding begins at 2pm EST - 4pm EST on this thread , The minimum bid is $107,000
    Thanks
    Mike
     
  2. finnerty

    finnerty F1 World Champ

    May 18, 2004
    10,406
    So, 1 hour 18 minutes in...... and no bids.

    That's a shocker :)

    No offense, but I really have no idea what you are trying to accomplish with this "experiment".

    I don't even think 107K barely makes sense as a reserve, let alone a starting bid.
     
  3. finnerty

    finnerty F1 World Champ

    May 18, 2004
    10,406
    Best of luck to you though.....
     
  4. Yellow Compass

    Yellow Compass F1 Veteran
    Sponsor

    Nov 23, 2015
    7,500
    NYC Area
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    Yellow Compass Supercars
    A guy just offered to trade me a 1964 250 GTO plus cash for the car should I take it ?
     
  5. Yellow Compass

    Yellow Compass F1 Veteran
    Sponsor

    Nov 23, 2015
    7,500
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    Yellow Compass Supercars
    I believe I have a good idea but I just have to polish the diamond if you know what I mean
     
  6. riccardone

    riccardone Karting

    May 24, 2015
    143
    I think it's an interesting idea, but like others have said, if you have a car already listed publicly at $112k and it's not flying off the shelves, I don't see anyone bidding it up from $107k. Anyone happy to pay $107k would already have offered that much from the non-auction listing, most likely?

    My bit of unsolicited advice: Do it with a 'highly liquid' asset, meaning a smaller ticket car (like $60k to $80k), maybe one that's more of a driver than a show vehicle . A 456 for example, or a 355. I think that's where you would get more action.
     
  7. The Nutsack

    The Nutsack Formula Junior

    Oct 7, 2014
    615
    Chicago
    Full Name:
    Mike
    +1

    Love the idea, but setting the reserve above market value just makes it feel like another marketing stunt.

    If you really want to make this an experiment, accept some risk yourself: make it a no reserve auction and see what happens. You have a lot of qualified and interested buyers here who would tune in and participate.
     
  8. Maranello550

    Maranello550 F1 World Champ
    Owner Silver Subscribed

    Aug 25, 2011
    12,324
    HongKong
    Full Name:
    Gary
    Did it get a bid or generate interest for an offer ?
     
  9. Yellow Compass

    Yellow Compass F1 Veteran
    Sponsor

    Nov 23, 2015
    7,500
    NYC Area
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    Yellow Compass Supercars
    Hi Gary the phones were ringing off the hook !! Just kidding
    Not one offer , i'll regroup and come back with something phenomenal :)
     
  10. Maranello550

    Maranello550 F1 World Champ
    Owner Silver Subscribed

    Aug 25, 2011
    12,324
    HongKong
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    Gary
    What a shame they are not RHD. You would shift one a day at your asking prices down here.... ;-)
     
  11. randomlambo

    randomlambo Formula Junior

    Feb 3, 2013
    377
    RI & MA border
    Full Name:
    DT
    If that was the case then the best place to move it would still be EBay where it would get the most exposure. It's not like here (and to some extent eBay too) people are just waiting around to buy a 328 given the right price?
     
  12. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    5,687
    I'll disagree with this.....for the RIGHT price, many of us, including me, would buy cars in this manner.

    On Ebay, there are LOTS of issues with car auctions, from shill bids, teenagers playing around, no-pay winners, unknown sellers with agendas, ect.

    Here, you can somewhat qualify bidders.....I've been here 11 years and have a track record and reputation like many do, and I'm not going to embarrass myself on bidding on something I can't afford, or won't pay for unless mis-represented.
     
  13. riccardone

    riccardone Karting

    May 24, 2015
    143
    Deleted - wrong
     
  14. eyeman1234

    eyeman1234 Formula 3
    Owner

    Dec 25, 2006
    1,881
    Boca Raton, FL
    I wonder if this represents, perhaps, a smaller exposure this forum has now to potential buyers for this car relative to say Dupont, or Hemmings (of course, Ebay) OR does this reflect on the fact that not everybody loves a "time capsule." I think it probably reflects some softening of the lower priced collector/vintage car prices with winter and some market correction...interesting.
     
  15. arizonaitalian

    arizonaitalian F1 World Champ
    Owner Silver Subscribed

    Oct 29, 2010
    19,897
    Wyoming
    #40 arizonaitalian, Dec 11, 2016
    Last edited: Dec 11, 2016
    As with most things, its usually all about money. Its the price here. The CS moved because you set a "min bid" that was below any recent sales. So, you got exactly one bid at the last moment at the minimum. Fwiw, I would not call that a successful test of the concept. It wasn't an auction by any definition. It was an offer to buy at a price. Someone made an offer at that price. There was no competition, no bidding up (and no reserve).

    If that car had been listed at $200k min bid, it likely would not have moved.

    This car at $107k was not going to get an offer to buy (as many here predicted). The related issue is that the min bid can't be only ~5% below your retail asking price. I find it implausible to think that someone who really wanted to buy it couldn't have already/otherwise gotten it for $5k below your asking price.

    How did the 550 go? Same thing, with one offer at the min? [edit: I see it didn't sell, even at the min bid either. The CS was priced to find a buyer at $175k. The others' have not been.]

    (the larger reason it likely won't work here is that there are typically not 1 buyer for any one car here, let alone 2 or more)

    Finally, please take this as constructive feedback from a forum member. To be clear, I'm glad you guys are in the business and a sponsor here and trying this new concept. Its great to have someone with your enthusiasm in the exotic car biz.
     
  16. The Nutsack

    The Nutsack Formula Junior

    Oct 7, 2014
    615
    Chicago
    Full Name:
    Mike
    Exactly. There are tons of Fchatters who could easily write a check for a car like this and would participate if it was no (or low) reserve. I'm not trying to criticize the OP - I think it's a great idea and would like for it to succeed. Why do you think sellers offer cars at no reserve? Because it generates a lot more interest and more buyers/bidders often leads to a better outcome.
     
  17. Gh21631

    Gh21631 F1 Veteran
    Silver Subscribed

    Feb 24, 2011
    8,325
    East
    Nah, this is a desirable car but no one is bidding on a car if they feel they are paying too much from the start. Problem for the seller is that he may have too much in it and doesn't want to lose any money. It would make sense to start the bidding lower and at least show some activity vs what we have here. He could then decide to negotiate with the highest bidder or not and relist. Tough one for the seller.
     
  18. eyeman1234

    eyeman1234 Formula 3
    Owner

    Dec 25, 2006
    1,881
    Boca Raton, FL
    Maybe there should be a new section here, say "F-bay"
     
  19. rob lay

    rob lay Administrator
    Staff Member Admin Miami 2018 Owner

    Dec 1, 2000
    59,406
    Southlake, TX
    Full Name:
    Rob Lay
    stay tuned. ;)
     
  20. eyeman1234

    eyeman1234 Formula 3
    Owner

    Dec 25, 2006
    1,881
    Boca Raton, FL
  21. Yellow Compass

    Yellow Compass F1 Veteran
    Sponsor

    Nov 23, 2015
    7,500
    NYC Area
    Full Name:
    Yellow Compass Supercars
    This beautiful 1987 13,200 mile black/tan GTS is waiting to go into your garage , call me and we can discuss price
    Mike
    Happy healthy holidays to all 🎉🎉🏁🏁
     

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