Dr_Strangelove

But that little gem of a phrase gets me the best seat on the bus, bub.

peterp

Can someone point to where reserve is indicated on active BaT listings? I must be missing something big time, but I can't find it.

plpete84

Assume they all have a reserve unless noted otherwise. From what I've seen, most listings with no reserve will have it stated in the title of the listing.

Optionman1

Look at this BaT listing as an example. https://bringatrailer.com/listing/20...-murcielago-7/

Unless it says "No Reserve" it has a reserve.

Billup

Reserve amount is never listed, as noted only exception are auctions with No Reserve.

Dr_Strangelove

This is precisely correct. If it does not say "NO RESERVE" then there is a reserve set that is agreed between the seller and BaT.

peterp

Thanks for the info. Their "silent reserve" seems like the worst system ever for the buyer, seller, and BaT. I get that the reserve amount isn't listed -- there would be no point in having a reserve at all if the reserve amount was disclosed. But BaT should definitely have "(reserve not met)" next to the bids so that people bidding know they need to up their bid, even if nobody else is bidding against them, to buy the car.

What's the point of winning the bidding war against all of the other bidders only to find out after the auction closes that it wasn't enough? The buyer would be rightfully pissed -- he won the bidding battle but lost the purchase war. The seller loses out if the buyer would have paid more to get past the reserve despite there being no other bidders at the winning price point. BaT loses out because it wasn't a successful sale.

I must be missing something or misunderstanding it, because this seems like the stupidest reserve strategy ever. It's not how live auctions work either.

.

Porschetech3

I would look at the mileage listed on the Title transfers and the Carfax report for mileage at any documented services, if no discrepancies are found and they all list the progression to 37k miles in order of plausibility, then I would tend to believe the mileage was correct...

If discrepancies are found or there are HUGE gaps, then all bets are off...

wdb

This price drifted down. Not a 996, but it will soon reside with one.

https://bringatrailer.com/listing/ca...omments-anchor

911Syncro

Congratulations WDB. That's gonna be one heck of a fun ride!

pulpo

congrats that thing is awesome. looks like there are some deals this week with the stock market stumbling. this is the lowest sale for a manual 997.2 i've seen in a while.

https://bringatrailer.com/listing/20...omments-anchor

Down South

Thanks for posting that. A very interesting read. Search the term on YouTube. Good videos on the subject.

philbert996

Occam's milkshake

3/98 911 coupe

I haven’t bought in bat, but I have been the high bidder twice on pcar market. First time it was on a 2007 c2S, reserve was not met. They called me because I was the highest bidder, I made an offer, they call me back with a counter and it didn’t work. The second time my 03 turbo, the reserve was at $64. My max bid was $55, when they called me they asked me what I was willing to pay total all in fees included. I said $60k, 30 minute latter yes I bought the car. The owner of my car said that they convinced him to take less but pcar also lowered their auction commissions, so pcar negotiated with both buyer and seller. I heard that sometimes bat and the sellers are not on the same page regarding the reserves. Anyway they are not set in stone. The idea of showing reserve not met when a bid is placed doesn’t makes much sense because it will temp bidders to keep on bidding to thick the reserve off. I would prefer to be the highest bidder not meeting the reserve and get a chance to negotiate. I seen auctions where the seller had stated reserve lifted. And also auctions where seller says reserve has been lowered Car will sell today. The most frustrating one for the buyer is when there is a no reserve auction, he’s the high bidder and then the seller is not going to sell the car. There was one like that this week. Also some buyers have not followed thru with purchases, if you are the buyer they will banned you from bat unless there where some issues, last month there was a C4S with no oil pressure, the buyer was not penalized and wasn’t charged the auction fees. In the end is all negotiable.

bdronsick

Another benefit on BaT in this fortuitous situation is the 5% Buyer's fee is never charged. BaT places High Bidder & Seller in direct contact and they either strike a private deal or no. In either case BaT never receives their 5%. That is a huge benefit to Buyers on BaT over other platforms where the "house" brokers negotiations between both parties and preserves their fees. As much as they're bashed, some aspects of BaT are underappreciated. Not to mention BaT is notorious for pushing very hard for low reserves, which also favors the Buyer. Cars literally get stolen every day on BaT. $69K Slate Grey X50?? Mid $60's was an absurdly low reserve on that car if you think about it.

The "halo" high watermarks are held up as paragons of why "not to buy" on BaT. But the truth is BaT is Buyer's paradise. VERY low reserves. Vast pool of outspoken experts raking Seller's over coals. Fees capped at 5%... People will look back at today's BaT as a golden age for Buyers. IE eventually BaT will be raising fees, censoring posts (this has already begun), eliminating the 5% cap, and hiring Carmax floor managers to broker RNM's. Only a matter time