What is the best way to sell a Supercar?
Discussion
I have a few cars already and am looking to buy another car. It could be quite expensive.
The problem for me is - how do I sell it when I dont want it anymore?
I guess the answer is sale or return with a dealer?? What sort of percentage of the sale do dealers charge?
Or there other options? If I sell at a specialist auction do I take a big hit or can I make a profit if it is collectable?
It will probably be an everyday use Supercar but possibly a hardly use collectable.
I dont think I could ever privately sell a supercar (or a normal car either) as I dont think I could handle the thought of a test drive with a stranger plus lots of dreamers and all the hassle.
With previous cars I have
- taken a very big hit by selling to a trader and lost lots of money
- part exchanged
I dont want to do either of these two.
I am worried I will be stuck with lots of money tied up in something (even its value has gone up)
I have seen Lambos for sales for years at some very well known reputable dealers. I certainly dont want to have to wait years to sell a car whatever the marque!
Myabe i should consider some hand it back finance deal (although I am looking to pay cash as I dont believe in finace as their % rate for borrowing is always more than the % I can invest the smae money at)
Any experience and feedback is appreciated.
The problem for me is - how do I sell it when I dont want it anymore?
I guess the answer is sale or return with a dealer?? What sort of percentage of the sale do dealers charge?
Or there other options? If I sell at a specialist auction do I take a big hit or can I make a profit if it is collectable?
It will probably be an everyday use Supercar but possibly a hardly use collectable.
I dont think I could ever privately sell a supercar (or a normal car either) as I dont think I could handle the thought of a test drive with a stranger plus lots of dreamers and all the hassle.
With previous cars I have
- taken a very big hit by selling to a trader and lost lots of money
- part exchanged
I dont want to do either of these two.
I am worried I will be stuck with lots of money tied up in something (even its value has gone up)
I have seen Lambos for sales for years at some very well known reputable dealers. I certainly dont want to have to wait years to sell a car whatever the marque!
Myabe i should consider some hand it back finance deal (although I am looking to pay cash as I dont believe in finace as their % rate for borrowing is always more than the % I can invest the smae money at)
Any experience and feedback is appreciated.
Given the hassle factor, you'd be better off selling the car via a dealer or broker on Sale or Return i.e. drop car at dealers with agreed minimum return to yourself and agreed commision to the broker / dealer.
Auctions can be hit or miss with regard to sale prices for example I was asked by a client to re-comission a Ferrari 412(Chassis 62627) prior to the client entering it into one of H&H's buxton sales (he wanted out of the car ASAP) The car made approx £12k, 3 days later it was advertised by a dealer for £23k
Auctions can be hit or miss with regard to sale prices for example I was asked by a client to re-comission a Ferrari 412(Chassis 62627) prior to the client entering it into one of H&H's buxton sales (he wanted out of the car ASAP) The car made approx £12k, 3 days later it was advertised by a dealer for £23k
richardmancunian said:
Any ideas on pecentages dealers expect from the selling price?
Depends on the value of the car and the effort required to market it correctly an approximate idea would be a max of around 10-15% reducing the further up the price range the car is.To give you a comparison the owner of the 412 was returned a little over £10k when H&H's fees and his expenses were taken into account (so cost him 15-20%) had he allowed the car to be sold Sale Or Return he would have incresed his return by at least £5k
but he was a grown up and new the drawbacks of both sides of the coinEdited by AndrewW-G on Monday 17th August 11:11
Give Dion at www.elmscollection.com a call to discuss what you want to do. He'll look after you.
If you are that worried about selling it before you have even bought it I would not bother. I have sold "supercars" privately, part exchange and SOR and maybe I was lucky or just realistic but it was not that much hassle. A lot depends on how anxious you are to sell compared to the market forces at the time and your expectations on price. A lot of the ones that hang about are people just testing the market or thinking their car is worth more than it actually is. If you price realistically it should not be that much hassle. Lots on this forum have sold successfully via all 3 routes.
Thanks for all your replies.
Private sale is just something I dont fancy (time, hassle, security and insurance issues, test drives etc) but maybe I should try it sometime.
Spoke to Dion at www.elmscollection.com.
A very helpful chap.
SOR does not sound too expensive or painful.
Private sale is just something I dont fancy (time, hassle, security and insurance issues, test drives etc) but maybe I should try it sometime.
Spoke to Dion at www.elmscollection.com.
A very helpful chap.
SOR does not sound too expensive or painful.
Rico said:
Give Dion at www.elmscollection.com a call to discuss what you want to do. He'll look after you.
I'll second that, Bloody nice chap!JamieBeeston said:
just be weary who you use for SOR, seen too many horror stories of people giving their car away, it getting sold, then the company going into administration / bankruptcy / on the lamb with their money!
J
this happened to me about 3 years ago....Merc CL55....gone, £30k....gone, despite countless CCJs against both the company involved, and the company director personally, using 3 different debt collectors....nothing.....so please just be very careful, and check whoever you use very carefully J
The mkt has changed a lot in the last year.
I sold a Mclaren about 2 years ago, via AB on SOR, easy peasy, cost £4k and he easily got £4k more than I would have, trying to sell privately, (so it paid for itself).
Sold my last Mclaren private via Autotrader, it took 6 months and in the end, it was bought by a dealer, the final price was about £20k less the first offers I had turned down 6 months earlier.
I sold our last car (a proper supercar - Mini JCW
) in 8 minutes via tootle, I took the split between WBAC and advertised retail prices, added just shy of 40% of this difference to the WBAC value and popped it up at this price, no haggling no issues, sold and paid for by the dealership.
I would steer clear from SOR unless it a very well-respected dealer.
Before you decide anything, get some real cash (not PX) buy now prices for dealerships (and perhaps private offers), this will give you a baseline value and stop you being flattered by some the less scrupulous SOR set-ups.
What car is it ?
I sold a Mclaren about 2 years ago, via AB on SOR, easy peasy, cost £4k and he easily got £4k more than I would have, trying to sell privately, (so it paid for itself).
Sold my last Mclaren private via Autotrader, it took 6 months and in the end, it was bought by a dealer, the final price was about £20k less the first offers I had turned down 6 months earlier.
I sold our last car (a proper supercar - Mini JCW
) in 8 minutes via tootle, I took the split between WBAC and advertised retail prices, added just shy of 40% of this difference to the WBAC value and popped it up at this price, no haggling no issues, sold and paid for by the dealership.I would steer clear from SOR unless it a very well-respected dealer.
Before you decide anything, get some real cash (not PX) buy now prices for dealerships (and perhaps private offers), this will give you a baseline value and stop you being flattered by some the less scrupulous SOR set-ups.
What car is it ?
Wilmslowboy said:
The mkt has changed a lot in the last year.
I sold a Mclaren about 2 years ago, via AB on SOR, easy peasy, cost £4k and he easily got £4k more than I would have, trying to sell privately, (so it paid for itself).
Sold my last Mclaren private via Autotrader, it took 6 months and in the end, it was bought by a dealer, the final price was about £20k less the first offers I had turned down 6 months earlier.
Why didn't you give the 2nd McLaren to AB if it was straightforward the 1st time?I sold a Mclaren about 2 years ago, via AB on SOR, easy peasy, cost £4k and he easily got £4k more than I would have, trying to sell privately, (so it paid for itself).
Sold my last Mclaren private via Autotrader, it took 6 months and in the end, it was bought by a dealer, the final price was about £20k less the first offers I had turned down 6 months earlier.
355spiderguy said:
Why didn't you give the 2nd McLaren to AB if it was straightforward the 1st time?
He already had 'enough 650s for sale" at that time, there was no point in having yet another, doesn't serve him well or me.Other lessor SOR outfits may have taken the car and let it sit there for months.
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