Monday, December 11, 2006

Auction Tales

Think before you send your exotic cars to the auction.

We have found that the auction is a good place to dispose of cars with a value of up to about $70,000. Beyond that number, our experience over the years has rarely been good. (Actually, we’re being polite; it nearly always sucks.) It isn’t immediately obvious why it’s so bad. There is always a crowd around exotic cars – everyone wants a close look. Unfortunately, there are only a handful of actual buyers. When the cars do come to the block everyone crowds around – again, no bids, or, if you do have live money its thousands below what the market.

If you haven’t thought in detail about what it’s costing you to send your exotic cars to the auction and not sell them, let us break it down for you:

  1. Detailing: We all detail our cars to make them look good for sale day. Average cost: $125.
  2. Trucking: We have to get the vehicle to the auction. Average cost if auction is nearby (within 40 miles): $125.

  3. No Sale Fee: (or as the auction calls it the fee to check the car into the auction): $100. (This is the fee for most auctions, some are more).

  4. Return trucking: $125.

If we add these up it costs a minimum of $475 per car plus whatever your time is worth to waste a day arranging this spectacular success. (not including gratuity for people working at the auction on your behalf, conspicuously contributing to your bottom line.)

These are hard costs -- $475 to not sell your $70,000 plus car at auction. If we’re honest, this is only part of the problem. The auction, unlike those of us with iLUXCARS, is not your friend. The auction cares about sales percentages. A low sales percentage means crappy numbers for your next sale.

So, $475 out-of-pocket, a day wasted, and bad numbers for the next sale. This is assuming your keys haven’t been lost yet by the auction (don’t ask) and the car is actually in its correct run number. And, do not let us forget those talented auction drivers bringing your cars through the block. A clutch is a terrible thing to waste.

So you have a choice – you can cross your fingers and hope you have a real buyer in the crowd and a good auctioneer the next sale day, or, you can cut out all of the costs and headaches and sell your cars through us. Selling your car through iLUXCARS gives you access to the largest nationwide network of buyers for luxury and exotics in the world. And, if you don't sell it, it will cost you exactly nothing.

At iLUXCARS, we guarantee the money, title, and condition of the car. We also ship the car to your door so the risks of damage to the car in transit don’t apply to the buyer or the seller, only to iLUXCARS.

On-time payment, delivered, risk-free, guaranteed. Or, there's always the auction.

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