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I've heard that is the winning bid but it doesn't always mean it will sell at that price. Its just a number until the buyer and seller actually do the transaction. High price in any case, but I heard the buyer wasn't bound to that number when it comes to BaT and cars&bids
I've heard that is the winning bid but it doesn't always mean it will sell at that price. Its just a number until the buyer and seller actually do the transaction. High price in any case, but I heard the buyer wasn't bound to that number when it comes to BaT and cars&bids
You heard wrong. The price is the price, plus (at this level) buyer premium of $5k. This isn’t let’s get close and figure it out later. Of course if a buyer has regrets there is little the seller can do.
I've heard that is the winning bid but it doesn't always mean it will sell at that price. Its just a number until the buyer and seller actually do the transaction. High price in any case, but I heard the buyer wasn't bound to that number when it comes to BaT and cars&bids
Signes is correct. I've sold several cars on BAT and purchased one as well. The winning bid is the final price if it states the car sold. The seller is contractually obligated to accept the purchase price as is the buyers bid. The reserve is set before BAT will even accept a vehicle. It's a negotiation, but they are somewhat conservative in what they will accept. They make their money when the car sells, not from the listing. With that said, if you present the vehicle well in the auction, you will get market if not more. Sometimes the car will not hit reserve and BAT will make up the difference by sacrificing part of their commission so the seller can be made whole based on the selling price if it didn't quite hit the reserve price. As signes mentioned, a buyer can not be forced to complete the purchase, but they loose the BAT 5% to a max of $5000 which is charged to a CC upon completion of the auction. That is certainly motivation to follow through.
This PTS Pure Green manual .2 GT3 looks like it may be coming to BaT in the future. 3k miles, PCCB, buckets, FAL, LED’s, full leather, and lots of CXX.
Signes is correct. I've sold several cars on BAT and purchased one as well. The winning bid is the final price if it states the car sold. The seller is contractually obligated to accept the purchase price as is the buyers bid. The reserve is set before BAT will even accept a vehicle. It's a negotiation, but they are somewhat conservative in what they will accept. They make their money when the car sells, not from the listing. With that said, if you present the vehicle well in the auction, you will get market if not more. Sometimes the car will not hit reserve and BAT will make up the difference by sacrificing part of their commission so the seller can be made whole based on the selling price if it didn't quite hit the reserve price. As signes mentioned, a buyer can not be forced to complete the purchase, but they loose the BAT 5% to a max of $5000 which is charged to a CC upon completion of the auction. That is certainly motivation to follow through.
Thanks for clearing that up. Makes more sense. I wonder if Cars&Bids have similar policies
^^^ Merit Partners running an "Instagram Auction" for this Albert Blue GT3T. Current bid at $220,000.
Gotcha! A confidential listing from the original owner, a Rennlist member. One of two Albert Blue tourings on my list. I'm liking this much more than Mint, LOL!
Gotcha! A confidential listing from the original owner, a Rennlist member. One of two Albert Blue tourings on my list. I'm liking this much more than Mint, LOL!
Oh lord, imagine how much fun that's going to be to sift through all the fake bids.
I do appreciate that somebody put in an offer of $169,420 though.
Gotcha! A confidential listing from the original owner, a Rennlist member. One of two Albert Blue tourings on my list. I'm liking this much more than Mint, LOL!
Just for complete transparency the listing is not confidential and the car is not mine, at least not anymore. Merit partners owns the car outright and they are auctioning it themselves. The car is fantastic, and Merit Partners are a real stand up group at least my dealings with them.
05-13-2021, 01:31 PM
