40 minutes to go and holding at $15k.
I don't know why I am enjoying watching this sale. I guess it is because I want the car and know I don't have the disposable cash to buy it.
Does Cars and Bids have a "no snipping" system built into it? As an example, I think it is Gov Deals that has this function. The auction deadline gets extended by 3 minutes for any bid placed in the last minutes. This is intended to allow time for someone to get out-bid but have time to continue to bid higher.
John Welsh (Moderate Supporter) said:gunner (Forum Supporter) said:Thanks guys! It's live.
When I wrote $15k to $22k the bidding was only at $12.5k. Now it is at $15k.
Brining over the link to page 3
In reply to John Welsh (Moderate Supporter) :
Yes, there is a no snipping feature.
To answer my own questions about bidding increases and bidding increments I found this in the sites FAQs:
No. If you are outbid, you will need to manually input your next bid. Note that the price of the vehicle will immediately progress to your bid amount. For example, if the current high-bid is $30,000 and you input a $35,000 bid, the current high bid will immediately go to $35,000.
I am surprised they do not have proxy bidding or a system where the bid only increases as high as it has to. As an example, On eBay and my IAA Salvage auctions I can bid a max of $35k. If when i enter this bid the current price is $30k then the car will be mine for $30,100. If the next guy bids a max of $32,000 then the car will be mine for $32,100. This continues until reaching my $35,000.
As for snipping, yes the site says one minute added to auction time for every bid placed in last minute of auction.
5 Minutes remaining = $15,500
Was $16,250 with 1 (original) minute to go
$18,500 noww
$19,250 final.
I really expected a price that began with a 2 but still a good sale. Congrats!
I know gunnar is probably disappointed on the sale price, especially with someone complaining that his bid did not go through but it sounded like you were ready to move on.
Its an OK price and in a few weeks you will be happy you dont have to worry about it anymore.
I honestly would have bought this from you if it wasn't for this picture taken just now:
My wife is already pissed at me that her car doesnt even have a spot in the garage.
I'm happy. I think that's market value. Plus its going to New Mexico so no more worries about rust and the guy owns an e28 535is and an e34 M5 so he's pretty stoked and knows how to take care of his BMW's.
In reply to Slippery (Forum Supporter) :
A man of taste i see. Bimmers and a Beemer. Nice.
I was a bit disappointed because that bidder seemed to be making larger jumps rather than trying to out increment the other bidders but it turned out like it was supposed to. Its all good.
In reply to gunner (Forum Supporter) :
I'm curious, do you think you would have gotten more on BAT? Some of the cars and bids auctions seem like they're closing on the lower end of the fair value range.
In reply to Dave M (Forum Supporter) :
Thats a good question as I had the car on BaT in 2018 and it did not meet reserve. it got up to 21,000 but reserve was 25,000. I know several factors went in to what I got out of it but BaT only lets you auction a car one time per owner and being a no reserve auction its just as possible I would have gotten less.
In reply to gunner (Forum Supporter) :
I wouldn't lament. Cars like this can have an easy 20% flux in price at any time.
Compared to $25,000 this sold for 23% off = $19,250
Compared to $22,000 this sold for 12.5% off (I personally saw $22k as the high end)
Compared to $21,000 this sold for 8.3% off ( what the market bared last year.) Pretty darn close to the same number.
I certainly don't think that Ebay or CL/FB would have gotten you more. I often remember that in a "fair deal" BOTH sides should be left feeling they could have done a little better.
I think I would prefer that C&Bs site had proxy bidding. I earlier made the statement that this could go as high as $22k. If I had been a bidder, while the current bid was still just $12k, I could have put in a max bid of $22k. Then, I could continue about my busy day and check back at the end of the day to see if my $22k stuck and just how high I really had to pay to win the car.
This is exactly how I do it with the salvage cars that I buy (with one less zero in the prices.) I ask myself, "at what price would you be happy you did not win this car?" Once I figure that personal max then I bid up to just that number. The salvage auctions happen quickly (per car in less than 1 minute) but with 500 cars to sell tend to take hours. Bidding this way means I do not have to watch the long show just to catch one minute of action.
Since C&B does not have proxy bid, then the interested parties have to be present for the last minutes to "defend" their bid/price. I fear this means that "Mr deep pockets" who is likely also "Mr busy schedule" has to stop all activities in his empire just to buy a toy.
Does BaT have proxy bidding?
As I mentioned earlier I think Gunner did ok.
BAT does not have proxy bid.
As a buyer I would want it and I have lost a couple of cars as I could not be present until the end or my internet connection did not update quick enough.
As a seller I am not convinced proxy bidding will get me the best number. I could be wrong, but my gut feeling says proxy would work against me.
They should allow both. That way there's live bidding to potentially push the price up and make the buyer the most $$ and proxy bidding for those who can't be online at the end of the auction.
If you count in the auction fees that the buyer paid for the car, it's fairly close to the amount that Gunnar was asking for the car...
Yep. He straight up told me they took their $800 out of his account as soon as the auction was over. Plus he's covering 100% of shipping, with flights from there to here at 459 cheapest plus gas and motel back(900 miles) will be about a wash vs fly and drive. Thats not his preference, like it would be for me. So all in before tax and license about 21k. If I was delivering it id probably take a couple days off of work and buy a motorcycle out there and ride it home. Seems to be good weather we are having.
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