primecut

Wow. This makes no sense to me. OP could have gotten wayyyy more off a trade-in or even (Dare I say) CarMax. Whoever bought this car can now flip it for 10k profit easy. Hm...

steve0827

So here's what happened...

Reserve was actually set at $88.5k...totally reasonable (or so I thought).

Unbeknownst to me, BaT will mark a car sold if the final bid is close enough to reserve and will mail you a check for the difference. So, in the end, I am getting 88.5k...but, I wouldn't have gone through with BaT had I known this. Don't believe I agreed to this either...could be wrong though.

steve0827

Also - wasn't actually listing it for 105k on classifieds. That was more of a random number I chose.

Viperguy324

The overrev guy killed it for you.

pfbz

So $84,481 + 5% = $88,705.05, so BAT effectively passed along almost the entire buyers premium to you making just a few hundred? I'm surprised they did that, but at least that's better for you than what it appeared to be at first.

bhk1004

Pretty big fail by the seller setting reserve below dealer trade in...

if I was him i would be praying the buyer doesn't have funds to buy...

steve0827

It was set at trade-in.

bhk1004

interesting. Was your sticker around 100k? I had dealers all over me at 5-8k below sticker when shopping options when selling my gt4 recently.

Buteo

Trade in here is a bit more than 88k. Where are you located?

tkbr0wn

Depending on the state you live in, selling a car at the same price as trade-in is a bad idea. In Georgia, you would have to sell for 7% more than trade-in to offset the tax savings of trading in. I assume that is not the case for you though.

pfbz

OP said he was selling to fund racing expenses. He was not buying a new Porsche, so no trade in tax advantage.

BryanCO

Auction houses generally want to put the deal together. Seller shouldn't complain as he gets his reserve price. Buyer happy as car is well bought. Future prospective buyers think they may get a deal on bat. Future prospective sellers would now be cautious about using bat.

primecut

Nah, you know he trolled everyone and then bought the car himself

^ This. I'm going to avoid using BaT to sell my car. They are smart to display the "buyer" cost vs. the transactional totals, but such a practice is misleading esp. for the prospective sellers looking for a reference. And let's not mention the peanut gallery of keyboard warriors. Someone got an insane deal for this car though, good for them.

pfbz

steve0827, I'm curious if BAT suggested or influenced your decision on the reserve price before accepting the car for auction?

Was that the reserve price you initially suggested on your BAT auction application?

matttheboatman

My 2 cents is that I LOVE Bring a Trailer. I am a FREE MARKET junkie and find the site to be as pure of a free marketplace as it comes. Public commentary, and open and free information of who is bidding what. Not true in the smoke and mirrors Porsche dealership world. As far as value, it was an open market for all to see and many many did see. And it fetched what if fetched.

I would point out that never before has the GT4 been so available to acquire - with 41 offered by Porsche dealers (many with CPO warranty), and at least 8 offered by Used Lots on Ebay, and at least 15 being offered by individuals. That's at least 64 cars nationwide on the market.

Perhaps this is due to the fact that asking prices have risen of late.

I can not predict the future value of the GT4, but i can say that the current value is something less than the average asking price or we would see a dwindling of supply. But supply is growing. BAT was a measure of the market at this moment for buying that car. If I am correct, average asking prices will fall. Which would lead to less cars being on the market. Which may lead to higher prices in the future, who knows? I LOVE the Free Market!!!