Sounds like there is some defect in BAT's bidding system in that there was a higher bid w/45s left.
MikeP got the shaft me thinks.
MikeP got the shaft me thinks.
BAT: 1973 BMW 3.0CS 5-Speed Polaris Silver over Navy Blue
- Thread starter scottevest
- Start date
Certainly a bug in the system may have prevented two bidders to run it up a bit higher. I agree with Mike's assessment that this is a $90K plus car, and I think BaT is ponying up the difference in the reserve
Last edited:
Rex Kapriellian
Well-Known Member
Little light on the $$$
I'd be VERY surprised BAT would cough up $12k. Maybe $2k since MP lowered the reserve to $80k.
So if the reserve was 80k why did it sell at 78.5k?
BaT can elect to give up some of their commission to make a sale. The reserve was $80K.
I also felt it would go for more. And it isn’t a 1- car as some have stated, Condition 1 cars are trailered wherever they go, it is a solid 2 however, and I have seen this coupe in person. The buyer got the deal of his life.
Last edited:
i think it is worth above 90k from what i can see in pics ... probably much, much more. this one seems nicer to me than most of the ones that sold for north of 120k. go figure.
Mike Pelly
Well-Known Member
I thought it would go for more but I made the decision to lower reserve to $80K (from $90K) and when bidding ended at $78.5, BaT used some of their commission to fund the difference and complete the sale. The seller will pay me $78.5K and BaT will pay $1,500. If I had not lowered my reserve it would have been a no sale and who knows what would have happened. In the end the buyer got a good deal, BaT made a little money and I was paid the amount I agreed. I just wish there was one more bidder to keep the auction going....that would have been fun to watch. The winning bidder told me he was willing to go higher....
Great attitude Mike, it's interesting to get a glimpse of how the auction business works- thanks for that info.
Rex Kapriellian
Well-Known Member
Mike Pelly
Well-Known Member
Thanks Peter. It's important to honor the auction, especially since I volunteered to lower my reserve to $80K. Immediately after the auction ended I had two offers at $90K+. When the buyer picked up the car several days later I asked him if he wanted to make a quick $5K by immediately reselling the car. He declined. Next day he called and said he would take $95K. The car will likely be flipped.
Oh man, what a nice flip!
Too bad you lowered your reserve.
Too bad you lowered your reserve.
Mike Pelly
Well-Known Member
It's not flipped yet, he just told me that he plans to resell @$95K. At least one of the offers I had at $90K is no longer interested. Not sure where he plans to advertise.
Regardless, I'm out but if anyone has questions about the car let me know.