PCNA GT3 Auction is at 4PM today
09-23-2014, 05:32 PM
#31
Rennlist Member
Thread Starter
09-23-2014, 05:34 PM
#33
Rennlist Member
Thread Starter
09-23-2014, 05:34 PM
#34
Race Director
Don't need to be cpo'd as much as engines have the extended warranties no? Want to clarify again that manufacturer buy backs ARE lemon titles.. This is lost on some people despite repeated info on the forum and available online.
http://www.iqautos.com/car-manufactu...es-marietta-ga
These 20 cars are lemons, it will say that on the title right next to the word "corporate buyback".. Again; I purchased a BMW 535xi this way, saved a ton of money and had an engine warranty of 100k miles..., engine had a redesign to injection system... Very very similar to the gt3 engine recall..
The fact that these are apparently going for more than list price is impressive, and it does bode well for resale value of our cars. I do disagree with the previous poster that these are aubject to similar margins as other cars.. I think dealers are looking to make some extra cash see to the scarcity of the vehicle in the market. And speaking of the market, eBay as two gt3 for sale, both at approx $10k over list price.. This seems to have dropped from last month or so where they were asking up to $30k above list. Fun game to watch
http://www.iqautos.com/car-manufactu...es-marietta-ga
These 20 cars are lemons, it will say that on the title right next to the word "corporate buyback".. Again; I purchased a BMW 535xi this way, saved a ton of money and had an engine warranty of 100k miles..., engine had a redesign to injection system... Very very similar to the gt3 engine recall..
The fact that these are apparently going for more than list price is impressive, and it does bode well for resale value of our cars. I do disagree with the previous poster that these are aubject to similar margins as other cars.. I think dealers are looking to make some extra cash see to the scarcity of the vehicle in the market. And speaking of the market, eBay as two gt3 for sale, both at approx $10k over list price.. This seems to have dropped from last month or so where they were asking up to $30k above list. Fun game to watch
09-23-2014, 05:38 PM
#35
Race Director
09-23-2014, 05:41 PM
#36
Three Wheelin'
09-23-2014, 05:47 PM
#38
And no sport bucket seats either! Insanity! Some greedy dealers out there. Let's see if these actually end up selling to consumers at inflated prices. . .
Of course, the new owners won't get any compensation. Just a branded-title vehicle. Who knows if they have the additional engine warranty or not? As good as new. . .
Of course, the new owners won't get any compensation. Just a branded-title vehicle. Who knows if they have the additional engine warranty or not? As good as new. . .
09-23-2014, 05:47 PM
#39
Banned
Now there is a possibility here, that due to very limited supply of these cars -- and anticipated large demand vs. supply imbalance -- a handful of dealers could collude to corner the market by bidding the prices up in the auction and acquiring the whole supply to themselves. Then they can control how much they would charge the eager public for the privilege of acquiring one. Plans like these are risky, but could be very profitable when/if they work.
09-23-2014, 05:54 PM
#40
Rennlist Member
Thread Starter
You may have misunderstood. If 300 dealers are bidding to buy 20 items (no matter what items that may be, or how good or bad they may be) with the plan to sell them retail, then their profit margins (= retail sale price - auction price) in % terms should not differ from the margins achieved by buying used cars in any other auction and selling them retail. Most markets are efficient that way. This says nothing about how much lower the prices of "lemon" cars should be relative to "normal" cars. Now there is a possibility here, that due to very limited supply of these cars -- and anticipated large demand vs. supply imbalance -- a handful of dealers could collude to corner the market by bidding the prices up in the auction and acquiring the whole supply to themselves. Then they can control how much they would charge the eager public for the privilege of acquiring one. Plans like these are risky, but could be very profitable when/if they work.
I also have to believe the dealers did some homework on this and were comfortable buying lemon cars at basically no discount , even in the presence of what seems to be significant open allocations.
09-23-2014, 05:58 PM
#41
Three Wheelin'
It is surprising that these are selling at these prices and despite the branded titles, they have a good documented history as to reason Porsche bought these back. From a dealer perspective these give them product on the showroom floor to show especially since the remaining allocations are disappearing if you want a 15 model. They will be available this weekend at some stores and the "now" buyers will probably eat these up quick.
09-23-2014, 06:00 PM
#42
Banned
No dealer was allowed to buy more than 3 cars. So that certainly is another dynamic.
I also have to believe the dealers did some homework on this and were comfortable buying lemon cars at basically no discount , even in the presence of what seems to be significant open allocations.
I also have to believe the dealers did some homework on this and were comfortable buying lemon cars at basically no discount , even in the presence of what seems to be significant open allocations.
09-23-2014, 06:01 PM
#43
Guys this is good news for all of us. If you don't care about resale no big deal.
09-23-2014, 06:06 PM
#44
it is good news, but still very bizarre, hf1's comments are true as my local delver called me today to see If I was ready to order. I passed. Quite happy with my 2010 for now. This auction pricing is very puzzling to say the least!
09-23-2014, 06:11 PM
#45
Rennlist Member
Dupe post in the 991 subforum: https://rennlist.com/forums/991/8355...r-auction.html
Would be awesome if someone could pull all the VIN's and dump them here for tracking purposes.
Would be awesome if someone could pull all the VIN's and dump them here for tracking purposes.