from BaT to PCar Market -- my experiences with online auctions

[techweenie]

I sold a car on BaT before it was an auction site. And I've auctioned several cars there since then.

When they were sold, I didn't see much of a change... for a while. But now, it's very structured going in and there's more pushback on reserves.

So when I had a client ask me to sell his unique Porsche, I decided to try PCar Market. The decision was based on a friend's experience. He said they are far more personal and hands-on and they advocate for the sale if the car doesn't meet reserve. They got a spectacular price for his Porsche following long, aggressive negotiation after his (excellent) car fell short in the auction.

In the case of the car I listed on PCar Market, it fell short in the auction, but they then took over in their "Deal Tank" operation, communicating directly with the prospect and me as a middleman. They were able to bring the high bidder up to an acceptable number and the car sold.

So I'm inclined to consider PCar Market a decent alternative to BaT, depending on the type of Porsche I'm repping...

[Matt Monson]

I’ve heard the same thing from others.

[patina]

Thanks for sharing. Why do you feel neither cars met reserve on Pcar in the first place?

[sugarwood]

More eyeballs at BAT
So, higher sale prices at BAT

[MrBonus]

Interesting, and thanks for the review. The last few cars I've sold on BaT, they beat me up on reserve pretty hard, and one I attempted to list, we were $15,000 apart on the reserve (and didn't get listed as a result).

I know the market is softening but I was a bit annoyed when I saw a near identical S2000 as the one I sold (same year, same mileage, same basic history) not reach reserve at a price $3000 over their hardline reserve they gave me on my car. They're clearly not offering consistent reserves to all sellers.

[techweenie]

In the past, BaT didn't fight so hard on reserves. They were willing to take a larger numer of RNM cars than they are now.

BTW, if you weren't aware, the policy is that parts must be listed at 'no reserve.' Somehow Henry Schmidt got a reserve accepted on his massive parts stash currently on BaT.

PCarMarket will accept your reserve, but they may come back to negotiate when they have a legit offer.

[Matt Monson]

Got a link to Henry’s parts?

[RSTarga]

https://bringatrailer.com/listing/collection-of-engine-transmission-and-other-parts/

[Matt Monson]

Wow. He’s selling it all this time.

[speednme1]

Originally Posted by techweenie

In the past, BaT didn't fight so hard on reserves. They were willing to take a larger numer of RNM cars than they are now.

BTW, if you weren't aware, the policy is that parts must be listed at 'no reserve.' Somehow Henry Schmidt got a reserve accepted on his massive parts stash currently on BaT.

PCarMarket will accept your reserve, but they may come back to negotiate when they have a legit offer.

Parts do not have to be sold as a “no reserve” on BAT. They encourage parts to be sold as no reserve but you can put a reserve based on a similar sale.

[Menmojo]

I recently had a great experience on BAT. The only complaint I have is that everything is done online via email. There no way to verbally communicate with them prior to the listing going live. The good news is there still seems to be a big audience which can work for or against you. It worked for me. I was nervous if I didn't get the car sold there it would be tainted going forward. You really only get one shot on BAT. I do like the concept that PCAR Market has with their deal tank. It's a great idea.

[sugarwood]

Originally Posted by Menmojo

I do like the concept that PCAR Market has with their deal tank. It's a great idea.

How does that work?

[Macroni]

Originally Posted by sugarwood

How does that work?

list car after auction automatically at a agreed upon price.

[AG81]

Originally Posted by techweenie

I sold a car on BaT before it was an auction site. And I've auctioned several cars there since then.

When they were sold, I didn't see much of a change... for a while. But now, it's very structured going in and there's more pushback on reserves.

So when I had a client ask me to sell his unique Porsche, I decided to try PCar Market. The decision was based on a friend's experience. He said they are far more personal and hands-on and they advocate for the sale if the car doesn't meet reserve. They got a spectacular price for his Porsche following long, aggressive negotiation after his (excellent) car fell short in the auction.

In the case of the car I listed on PCar Market, it fell short in the auction, but they then took over in their "Deal Tank" operation, communicating directly with the prospect and me as a middleman. They were able to bring the high bidder up to an acceptable number and the car sold.

So I'm inclined to consider PCar Market a decent alternative to BaT, depending on the type of Porsche I'm repping...

I just sold my G50 for top dollar on Pcar and can not say enough good things about the way I was treated by their staff. Extremely friendly and helpful. While I have bought cars on BAT I would NOT sell a car there. They have their "opinion" on the value of YOUR car and missed my value by $80K. Do I need to repeat that???? The attitude I got from BAT was "you don't know **** - we are the experts - it's our site".....

Well BAT you said it was worth $60K and it sold for $140K+. I apparently knew way more about this car than you.

[sugarwood]

BAT wanted a $60k reserve and it sold for $140k?
And?
Maybe it would have sold for $200k on BAT ?

https://www.pcarmarket.com/auction/1988-porsche-911-carrera-5/

[RarlyL8]

Skip ahead to the 7 minute mark.

https://www.youtube.com/watch?v=Di7R22fnsrI

.

[AG81]

Originally Posted by sugarwood

BAT wanted a $60k reserve and it sold for $140k?
And?
Maybe it would have sold for $200k on BAT ?

https://www.pcarmarket.com/auction/1988-porsche-911-carrera-5/

^
and it could have brought $60K. My point was that they wanted me to accept a value much less than I was willing to accept. It's their policy and that is their right. They completely missed the mark on this car..... By a lot !!!!!

[AG81]

Originally Posted by RarlyL8

Skip ahead to the 7 minute mark.

https://www.youtube.com/watch?v=Di7R22fnsrI

.

I agree with what this man has to say about Internet Auctions. (I'll leave the site names out of this because it pertains to them all)

[Matt Monson]

Originally Posted by AG81

^
and it could have brought $60K. My point was that they wanted me to accept a value much less than I was willing to accept. It's their policy and that is their right. They completely missed the mark on this car..... By a lot !!!!!

Sugar likes to troll. He’s just trying to stir you up. He’s not as dumb as he seems.

[NYNick]

Originally Posted by Matt Monson

Sugar likes to troll. He’s just trying to stir you up. He’s not as dumb as he seems.

I disagree.