[Fot] Bring a trailer

Tue Sep 13 12:10:08 MDT 2016

The first Morgan I posted was my own.  I’d been the only bidder at $22,000 on eBay three years prior. I’d done a lot of work to turn it from a nice unfinished show car that was not ready for the road into a reliable car that was about 98% finished.  I needed to get $26,000 to break even but they insisted on a reserve of $21,500.  It was a much modified 1957 Morgan Plus 4 and a four-seater at that, so the market for it is probably tiny and I was a bit anxious until 13 minutes were left on the clock, when the bidding passed $26K.  The auction went another 29 minutes past the scheduled end time and ended up at $39,751 so I was pretty happy.  It’s this one: http://tinyurl.com/j46dgx3 .  

The second one I sold (my late friend’s) 1968 Plus 4 went to $54,000.  Contrast those results with a fairly stock 1957 Plus 4 four-seater that sold a few days later for $19,600.  My impression of the problem with the auction is that there was no story told there and the car just didn’t seem to have much pizzaz.  http://tinyurl.com/j48pdv7

Duncan Charlton
Elgin, Texas USA

> On Sep 13, 2016, at 10:42 AM, D V <explore8 at outlook.com> wrote:
> 
> Thanks Duncan! I was curious about the reserve price and how BAT set it. I am on that website often and have seen several lately not hit their reserve even though the bidding seemed reasonable.
> 
> Sent from my iPhone
> 
> On Sep 13, 2016, at 6:35 AM, Duncan Charlton <duncan.charlton54 at gmail.com <mailto:duncan.charlton54 at gmail.com>> wrote:
> 
>> Yes, I’ve sold two Morgans there since April.  You enter the information, photos, videos, etc. on their website and give them your best reasons for featuring your car.  If they accept it, your listing fee is $250.  Stay near your computer throughout Day One and for the last six hours or so.  You’ll want to be able to answer questions quickly.  You need very good photos, shot in good light, and a walk-around video plus some driving video will help put bidders at ease.  You can also submit links to your own Flickr page or Youtube for additional photos and videos, or add them later in the comments windows once the auction starts.  Bidders have to register with their credit card, so once the auction ends, the high bidder’s card is immediately debited 5% of the purchase price, most likely minimizing the chance someone will back out.
>> 
>> BaT insisted on low reserves on both Morgans, most likely because they looked at what they thought were comparable sales via completed eBay auctions (which had been very low for many months).  It’s in their interest to see it sell (so they get their cut) and they have the leverage to insist on a low reserve.  Bidding remained stale until the last 15 minutes of the schedule, and then things took off.  Three bidders in both cases drove up the price.  The countdown clock at a BaT auction resets to two minutes every time someone places a bid in the last minute, so in both cases, my auctions ran for another 25-30 minutes while bidders kept hiking the price.
>> 
>> Commenters liked the photos and video and the car’s story in both cases... make sure to tell "the story” of your car, whatever it is.  Nobody cared about the number of miles or minor problems but readers and bidders really liked knowing the history of both cars, particularly the second one I sold, which had belonged to my late friend Frank, who had raced it in Europe and the US and restored it twice.  His wife, son and daughter started commenting about halfway through the auction and Frank’s racing buddies starting commenting, too.  That one garnered a remarkable sales price.  
>> 
>> When the auction was over, I heard from the high bidder within 24-36 hours and both wired money straight to my account.  I ended up holding both cars for a few weeks while they arranged shipping from Texas to VA or DC.
>> 
>> So — some benefits over eBay are: 1) readers and bidders are all car enthusiasts and tell their friends about anything interesting on BaT, 2) bidders must register with their credit card and are less likely to back out, and 3) the reset on the countdown clock keeps bidders from sniping each other with last-second bids, and really helps the seller by allowing the bidding to continue.
>> 
>> Duncan Charlton
>> Elgin, Texas USA
>> 
>> 
>> 
>>> On Sep 12, 2016, at 6:45 PM, Dennis DeLap <yellow-green at sbcglobal.net <mailto:yellow-green at sbcglobal.net>> wrote:
>>> 
>>> Does anyone on the list know how to sell a car on Bring a Trailer?
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