Park Place Ltd, Bellevue, strange place?
01-14-2017, 08:59 PM
#16
CCJ, I thought about consigning a car there, and talked to them about it. I think I have figured out their modus operandi.
The way they consignment business works is:
a) They exclusively place your car on their lot. This will be under contract and cost you $300-500 plus their detail shop that will tack on another 300.
b) you set a price you want, say 70K. They then list your car well over market value.
If someone comes along and overpays for the car fine, but mostly the car sits. PP likes the cars to sit on lot, it cost them nothing. PP gets free inventory, and they are not eating depreciation, the seller is. After 90 days, they ding the seller for another $300 and ask *you* to lower *your* price. And the car is still overpriced. Or they offer a low trade-in value.
And the cars that aren't overpriced still don't sell. It's just a strange place.
The way they consignment business works is:
a) They exclusively place your car on their lot. This will be under contract and cost you $300-500 plus their detail shop that will tack on another 300.
b) you set a price you want, say 70K. They then list your car well over market value.
If someone comes along and overpays for the car fine, but mostly the car sits. PP likes the cars to sit on lot, it cost them nothing. PP gets free inventory, and they are not eating depreciation, the seller is. After 90 days, they ding the seller for another $300 and ask *you* to lower *your* price. And the car is still overpriced. Or they offer a low trade-in value.
And the cars that aren't overpriced still don't sell. It's just a strange place.
01-15-2017, 12:33 PM
#17
2nd Gear
Join Date: Jan 2017
Posts: 2
Likes: 0
Received 0 Likes
on
0 Posts
Skynet, that about sums up their experience except that the contract states if they sell the car for far above your set price and market value they keep that difference too. They were selling a selling a car that was under $20k, was pretty unique and didn't have a broad market so they felt they didn't have a lot of options.
03-07-2017, 07:04 PM
#18
Instructor
I live 2 miles from Park Place and stop in frequently to see the cool stuff. With Microsoft, Nintendo, google and a zillion other tech companies in Redmond there is unlimited money around and they can sell all they have over book. Lots of cars get resold several times per year as the rich tech kids get bored easily. For the most part the cars are really nice.
Dan
Dan
03-25-2017, 01:17 AM
#19
Rennlist Member
Buyer beware big time, each of these stories is the tip of the iceberg.
Went in to look at at a 993 and the hood had one of those short, front clear bras on it. Looking closer we were able to see the hood had been repainted but only in the 2/3rds that did not have clear bra. It was so sad because the paint edge rose up off the surface to meet the edge of the clear bra.
Said another way, they repainted the hood and did not even take the time to remove the short clear bra first! This takes laziness to a new level
Went in to look at at a 993 and the hood had one of those short, front clear bras on it. Looking closer we were able to see the hood had been repainted but only in the 2/3rds that did not have clear bra. It was so sad because the paint edge rose up off the surface to meet the edge of the clear bra.
Said another way, they repainted the hood and did not even take the time to remove the short clear bra first! This takes laziness to a new level
04-21-2017, 08:41 PM
#20
Rennlist Member
I consigned my 996 in 2004 and sold it in two weeks. I think most of the Porsches at Park Place are consignments, thus no hurry to sell(no ownership, no taxes). That is probably why their cars sit for a long time. I have to say, I was treated very well, selling and buying a car. That was a long time ago in retrospect.