Still an insane price for that car given its history. Just reinforces my theory that many of the buyers on the auction sites now are thinking they are purchasing an investment and don't understand what they are buying.

 

I encourage everyone to look at the profiles of BAT winners. I am 100% sure that a lot of the buying on that site is by bored rich people dicking around with no regard for market price, hence the results. BAT cars go through basically zero scrutiny and its up to the comment section to find out if a Diablo has been totaled in a wreck previously or a 996 turbo had the rear bumper resprayed while on the car.

 

You are 100% wrong. First - I bought my 2000 996 there in March and I may be bored but I am not "rich". Second - less than 50% of the cars tendered to BAT are accepted for auction. Finally, I bought my car from a dealer who has sold over 500 cars on BAT and the comments regarding that dealer are all very positive. Just do you research. I spent months on BAT doing my research. The comments section is extremely helpful. If BAT allowed junk, or disreputable sellers people will simply no longer use it. I just don't get the negative feedback that would prevent me from buying a car there. I agree that if you are buying from a private party, you need to do a PPI. Is it any worse than buying from FB or Craiglist? No. Do the same due diligence on BAT that you would on those two sites. So - you don't know what you are talking about.

 

yes you're right

its Joe Average on there paying double market price unremarkable cars

BAT prices are hilarious, as a generalization, not a rule.

And if you aren't rich, it would behoove you to find a selling platform that doesn't charge you 5% for literally zero due diligence on their part.

 

He's actually right. If you look at the profiles of most of the buyers, particularly of Porsche 996 models, most of them have almost no activity of either bidding or buying. Furthermore, if you look at the prices that are being paid for cars on BaT, they are well above what the market values of the cars are and in some cases, ridiculously higher than market value. That tells us two things; first, many buyers are NOT doing their homework about the issues with the cars they are bidding on, and second, they don't seem to care too much about what they pay for the cars. Buyers who know the risks that come with 996 ownership and understand what the cars are worth rarely purchase on BaT because of the prices, but also because it is difficult to get a PPI completed and they don't know what the final price will be if they do. Based on the condition of some of the cars I have seen up for auction on BaT recently, I highly doubt that they are only accepting a percentage of what are submitted. The fact that you bought your car from a dealer that has sold a lot of cars on BaT certainly mitigated your risk, but most sales are from individuals that only complete on transaction on BaT. BaT takes zero responsibility for the condition of the car so buying there is an enormous risk, especially with the issues that 996s have.

The biggest problem with BaT are the "cheerleaders" on there that make stupid comments about the future value of cars up for auction and encourage the stupid bidding that occurs there. Many of them are admitted owners of the same model of car that is up for auction and they are acting in their own self-interest by encouraging excessively high bidding. In some cases, they seem to be doing it to help them justify the silly prices they paid for their cars on BaT. I have bid on some cars on BaT in the past but now it is purely for entertainment value as the cars listed there almost always sell for more than they are worth, and that is before auction fees. The only time BaT can make sense is if you are looking for something very unique that is hard to find and happens to come up there. Otherwise, there are numerous other venues where you can negotiate a price with a seller, arrange for a PPI and do far more due diligence than what is possible on BaT.

 

This is essentially what I was trying to say, just with a lot fewer words!

 

It takes all types of venues to establish FMV for any asset. BaT produces enough data points that it can't be excluded just because prices are higher than what a sophisticated buyer would pay, if that were the case many assets wouldn't sell for what they do.

 

Actually it can, because the prices paid there completely unrealistic compared to other venues. I have had a couple of dealers try to use BaT pricing to justify their prices, but when you look at the auctions for the cars they are using as examples, they are usually bidding war situations where two people are competing for the car. And the prices that 996s are selling for on BaT at this point usually have no basis in reality. The buyers don't care what other cars have sold for - they keep bidding until they win the auction regardless of what the car is actually worth. Now, if you are talking about very rare cars, that is a completely different story.

 

How many used Porsches do you think sell ever single day of the week across all platforms? BaT seems to average 10-15 Porsches daily, 6 days a week, 52 weeks a year. Hard to ignore what might be the single biggest platform. PCarMarket doesn't move anywhere near that many from my casual observation. Online auction sites attract much larger number of buyers and that is what any seller would want. Prices for all asset classes have benefited from the internet and the expanded market of buyers it allows vs old school used car selling methods. You might not like the results and think buyers are stupid, but the results are the results.

 

If you are selling, sell on BAT, bat even filters the comments. Yesterday a 997.1 coupe , no IMs done , accident, silver went for over $35, plus fees. I commented at one point that was about everything I would bid, anyway when I commented about a local clean car
same mileage, no accidents, better maintenance for less than $31 and no auction fees they did not post. I think a lot of people there are blind and get caught up in the I won the auction. If you going to buy I think PCar is better . Anyway I have been watching some pricing coming down a bit. Also I seen local cars sitting longer at dealers.

 

This one just listed, Porsche buy and sell Facebook. Seems like a good deal. A driver.

 

Yikes I can tell youre from Central Mass.

 

Yeah there's the 996 simp who comments on literally EVERY SINGLE 996, usually about MUH GT1 HEADLIGHTS and MUH LE MANS.
He's a member here too and he's just absolutely insufferable.

 

Black on savanah, 6 spd with over $20k spent in the last two years. Anyway they want $27,500. If anyone is looking for a driver trouble free and they are going to keep it this would be good at around $25 and change.

 

Anybody that pans BAT and other auction sites because of the high prices paid is fooling themselves, nobody else. The value of a car is established when an offer is made, accepted, and paid for....not what a poster thinks something is worth.

If BAT deals with mostly premium examples, it stands to reason that the prices paid would be at the high end of the range. If people bid on and buy these cars sight unseen, it is simply a testament to their perception of the vetting process that BAT performs as part of their business model.

I've bought a number of vehicles sight unseen, and from both dealers and private parties. Buying a car is like buying a dog; you hope for the best and live with your choice for the most part.