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1832
Number: 1831
From: "Tom S." <tkm654@c...>
Date: Tue Dec 17, 2002 10:12 am
Subject: Re: White ASC McLaren 1989 - with 10k - did not sell on eBay
Body:
One thing that I can say about this auction, as an eBay seller, is that high opening bids with reserves scare away a lot of buyers. They usually figure, correctly more often than not, that there is an obscenely high reserve and it's not even worth their effort or time to bid on the item since it won't reach the reserve anyway. A lot of people list this way to find out, in their minds anyway, what the market value is for their car, for whatever reason. Although I don't sell cars on eBay I have gotten much better results with low or reasonable opening bids and no reserve.
People hate reserves and/or high opening bids and know that there is always another of whatever they are looking for that will come up later. My favorite example is a 1986 Mustang LX 5.0 coupe in bright red with 7800 miles on it. This car was perfect everywhere, even under the hood, and it also had the original tires on it unlike the white McLaren being discussed. The opening bid was for $10,000 and it got no bids, this was over a year and a half ago before the economy bit the dust. My point is even today LX coupes are being bid up to near that amount with tons of miles on them and this car probably would have gotten what the seller wanted for it if he had started the bidding lower. Pics are attached.
Tom S.
--- In ascmclaren@yahoogroups.com, Marquis Grove <infosyssec@y...> wrote:
> So the auction has ended on the 10,500 miler 1989 white ASC McLaren Mustang - which was described
> as being meticulously maintained and it looks and runs as new. The bargain hunting bidders would
> not go over the initial $10k opening bid. The reserve ( which was never declared was never
> reached the vehicle went unsold with only one bid ).
>
> So in the end the bargain hunters of eBay helped prove that they wouldn't know a bargain if it
> jumped off the auction pages and bit them on the nose. And we will not get to see what the
> 'reserve bid' was that the owner was holding out for.
>
> But it is a shame that such a young car - 10,500 miles - was not able to spark more interest from
> the bidders. The question now arises - was it because the bargain hunters are not hot on
> McLarens, or they aren't in the market for a literally new car, or is it the winter season when
> people's minds are flirting with ragtops - or was it simply that the tough economic times and the
> fact that the auction was held so close to Christmas put a damper on what should have been
> spirited bidding.
>
> This is one of the reasons, in my previous diatribe where I was explaining that the money you pour
> into a McLaren restoration has to be carefully guided against the reality of what the market will
> pay should you ever have to unload the vehicle.
>
> I just wish I had $15k to have tossed at the auction for the white McLaren... if for no other
> reason to see if the 'reserve bid' was at or below $15k - or if the owner was hoping to score a
> much higher dollar for his young McLaren.
>
> C'est la vie...
>
> Marq
>
>
>
>
>
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