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Old 04-26-2020, 06:07 PM   #81
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And found his website https://www.meccanicshop.com/
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Old 04-27-2020, 01:17 PM   #82
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And found his website https://www.meccanicshop.com/
Maybe Nick has raced against them.
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Old 04-27-2020, 02:44 PM   #83
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If you "click" on the auction seller 1600veloce you will see all his past auctions. I'm guessing this person collects interesting rides at auction and is successfully flipping them via BAT. Just a guess, but I think many new car dealers take in trades, put them on their lot for a few weeks and if they don't sell send them off to "regular" auction. oops, should have just linked to the seller https://bringatrailer.com/member/1600veloce/

Maybe Sarafil can confirm or explain why I am wrong, but this 1600 dude has movd some interesting metal

Yea, looks like a used car dealer targeting Euro cars.

Most dealers, in particular the big groups, usually have a policy where they only keep a used car on the lot for 60 days +/- and if it doesn’t sell during that time they’ll send it to auction when the clock runs down. Idea being it’s not fine wine and won’t get better with age, so take your best shot upfront and if you can’t move it in a reasonable time period, cut your losses and move on.

This looks like a really cool car but my guess is the BMW dealer paid too much for it, as a result tried to sell it for too high of a price, and either refused to cut price or did so too late to sell it to a retail buyer. Probably lost a good amount of $$.
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Old 04-30-2020, 08:55 AM   #84
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Auction is up to $33k. Last dealer ask was around $47k, as I recall. One more day to go.

I think the dealer price included a year of BMW Certified Warranty, in addition to the remainder of the factory warranty.
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Old 04-30-2020, 11:01 AM   #85
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Auction is up to $33k. Last dealer ask was around $47k, as I recall. One more day to go.

I think the dealer price included a year of BMW Certified Warranty, in addition to the remainder of the factory warranty.
at 33k it's pretty tempting. I think the certified warranty transfers with the car? Not sure if that's the case in this instance though.
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Old 04-30-2020, 11:23 AM   #86
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at 33k it's pretty tempting. I think the certified warranty transfers with the car? Not sure if that's the case in this instance though.
My rule of thumb is that prices on BaT auctions jump about 10K in the final 24 hours. That's obviously very, very rough and changes depending on the amounts involved, but I've found that it generally works as a way to understand where an auction is 24 hours before the close.

I think the final bid on this car will be in the 40s, but no idea if it will be RNM.
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Old 04-30-2020, 11:59 AM   #87
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at 33k it's pretty tempting. I think the certified warranty transfers with the car? Not sure if that's the case in this instance though.

If a dealer doesn’t retail the car, the CPO is never activated - it’s basically cancelled when they wholesale it.

Program has changed in past few years and I’m not sure anymore, but think it can be transferred once it’s active if sold via private party sales. If it goes through a dealer then the warranty won’t transfer.
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Old 04-30-2020, 12:41 PM   #88
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My rule of thumb is that prices on BaT auctions jump about 10K in the final 24 hours. That's obviously very, very rough and changes depending on the amounts involved, but I've found that it generally works as a way to understand where an auction is 24 hours before the close.

I think the final bid on this car will be in the 40s, but no idea if it will be RNM.
Makes sense. I guess that's typical of most online auctions where all the action happens in the final stretch. 40k actually would be a really strong residual value, even for this car. That'd be about 60% of the original MSRP 3 years later. That's similar to the subsidized lease residuals from BMWFS on their mainstream sedans and SUVs.. I guess wagons, even fully loaded ones like this, hold their value better in the used market since they are relatively rare.
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Old 04-30-2020, 12:51 PM   #89
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I guess wagons, even fully loaded ones like this, hold their value better in the used market since they are relatively rare.
And niche sites like BAT are rife with enthusiasts, for whom said wagons seem to be particularly sought after unicorns.
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Old 04-30-2020, 03:45 PM   #90
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Originally Posted by JST View Post
My rule of thumb is that prices on BaT auctions jump about 10K in the final 24 hours. That's obviously very, very rough and changes depending on the amounts involved, but I've found that it generally works as a way to understand where an auction is 24 hours before the close.

I think the final bid on this car will be in the 40s, but no idea if it will be RNM.
Right. Then you have to add your 5% to BaT, and pay tax and title in your home state. So, likely climbing back up toward $50k again. Not to mention shipping, if you go that route--or whatever transportation costs to go pick the thing up (which is all fraught now).
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