[vegas_ss]

BaT 2009 G8 GT - No Reserve

 

[Oldpoop55]

This looks interesting. I may have to bid on it.

hmmm

 

[GT Drew]

Looked at all the photos. One damn clean car. Pure stock.

 

[BAS G8]

Sharp

 

[PONY MAN]

...I may have to bid on it....

Potential stable mate?

 

[Oldpoop55]

Maybe. I am giving it a good think.

 

[vegas_ss]

Maybe. I am giving it a good think.

I've been watching and participating (buying and selling) for the past few years and can offer this insight...

Bidding the minimum over the existing bid will ultimately lead to a bidding war between 2 or 3 people, often extending the auction which is a good result for the seller and leads to over market bid results. On the other hand, an early larger bid amount (maybe 90% of your max bid) will most likely take about 99% of the bidders out and seems to be a much better strategy. On a car like this you may value it at maybe $14 - $16k, I would bid a high $13k bid (over $13,800) where to be outbid, they will need to go into the $14k range. You may be surprised what a mental block the next $1k threshold is to some. If you are outbid, then raising by $1k usual will take the auction.

I did pick up my GXP using this method and the total with auction fees (5%) was just under $20k. The seller did lower his reserve to about $200 less than my bid, mostly due to no other action on the auction until about an hour before close. I was outbid by the minimum, raised over $1k, was certain the auction would not meet reserve and ended up with an interesting GXP. When I sold my Impala, I had a bidding war and they kept bumping each other, extending the auction and ended $4k over what I would have sold it for.

One other thing is if it is a reserve not met auction (RNM) which isn't the case here, the high bidder and seller can still work out a deal, not sure on the details, but they are given each others contact info and I don't know if auction fees still apply.

It also is a lot of fun

 

[Oldpoop55]

I think I am going too pass. Spoke to my two sons about modifying another G8 and although they would like to, one is saving for a single family home and the other is saving for a full size pickup.

Guess this will go to someone else.

 

[vegas_ss]

Sold for $18,901 with buyers 5% premium.

 

[GXPaycheck]

The last 30 minutes were great to watch!

 

[MGMGXP]

I can't believe a stock GT with over 120k miles sold for $18k. I figured this to be a $12k car. Congratulations to the seller.

 

[vegas_ss]

I can't believe a stock GT with over 120k miles sold for $18k. I figured this to be a $12k car. Congratulations to the seller.

Actually ~$19k with auction fees... Funny thing about auctions is you never know who the bidders will be I did buy and sell a car at auction and will be selling my 87 tbird turbo coupe later in the spring or early summer. That I will put at no reserve...

 

[RevGTO]

I can't believe a stock GT with over 120k miles sold for $18k. I figured this to be a $12k car. Congratulations to the seller.

Add to that the fact that it had an accident history. I would have gone for it at $12k, figuring the auction fee, transport, and T & L on top of that. All in at $15k would still have been a decent buy.

The buyer lives 2 hours away, so no transport expense, but still, $19k?? The seller was incredibly savvy. Lure them in with no reserve, wow them with something like 268 photos, including detail of the undercarriage. Records to the point of every time he put gas in the car - let the bidding war begin! And it did, bringing a suprising amount of money.

 

[vegas_ss]

The seller was incredibly savvy. Lure them in with no reserve, wow them with something like 268 photos, including detail of the undercarriage. Records to the point of every time he put gas in the car - let the bidding war begin! And it did, bringing a suprising amount of money.

Exactly!!! The point with auctions is how you present the vehicle... My Impala Auction July 2022

I used 257 photos and 7 videos and was responsive to all questions. I think if you are selling and can take decent photos and detail the **** out of the car, auctions can do quite well for the seller.