At the end of the day, BaT makes more money making up the reserve price than they do with a RNM. It’s one of the risks of accepting too low a reserve price as it’s stipulated they have the discretion in that matter.
Malaga Coupe
- Thread starter HB Chris
- Start date
I've neither sold nor bought a car on BAT, but I thought the "making up the reserve price" situation arose when the price got close enough to the reserve that BAT was effectively taking a lower commission. For example, if Chris' reserve were to be $140,000 (I'm making this up, I have no idea what Chris' reserve may be), once the bidding gets above roughly $133,500, BAT is merely taking a lower commission to make the transaction work. At 136,000, for example, BAT would collect $6,800 from the buyer, then pay Chris $4,000, and end up with a reduced commision of $2,800. If the bidding did not get to $130,000, BAT would not make up the reserve because the amount they would pay to Chris to get him to his reserve would exceed the commission from the buyer, and BAT would be paying out of pocket to make the transaction come together.
True, except the buyers commission BaT receives is 5% UP TO A MAXIMUM of $5,000. So in your example, a sale of $136,000 against a reserve of $140,000 BaT would collect $5,000 from the seller, give Chris $4,000, and retain $1,000.
An unknown (at least to me) is at what point would BaT consider NOT doing this. For example, if the car in the example bid to $135,000 would BaT be satisfied not making anything just to increase their sell through percent?
You guys are making me very nervous!
Chris, we've got your back. there is going to be so many (very) positive comments ... and yes there will be some large / quick bids ... allowing it to settle into a rhythm and hopefully a smooth close and SALE.
i just looked through the e9 BaT auction history. yes there haven't been many e9 auctions during the fall ... and in actuality, most of the RNM have been during the summer. perhaps some didn't reach as high as they should have during the fall ... but many of the ones i looked at were simply not as great of a coupe.
one of the things that i noticed as there has only been one coupe selling for north of 150k this year .. and that was on 3 january. 3 have sold for between 140k and 150k this summer. last year there were 8 above 150k ...
one of the things that i noticed as there has only been one coupe selling for north of 150k this year .. and that was on 3 january. 3 have sold for between 140k and 150k this summer. last year there were 8 above 150k ...
Chris don't be nervous. Your car will sell at a great price I'm sure. It's fun to watch, especially when it comes down to last 10 minutes or so when it is your car and at least you won't have to pay North of $14k for a consigner. For me it was worth going through Avant-Garde but you won't need their help with Doug's pics and everyone's help from the board and other places. It's such a well known car that is as close to perfect as possible and great owner of course...
Got my Auction Specialist today, Mason. Making progress.
Hopefully Mason is more in tune with the "features" on these cars than past specialists. Looking forward to seeing the write-up.
He sent it to me today and used 90% of what I provided, excellent. Scheduling could happen soon, after Kustenfahrt III when we return I hope.
You can't count on BaT to put ANY subjective slant on the write up. That's why you have several comprehensive post pre-written for consumption during the auction to keep folks engaged... Think past car history, purchase and recent history, improvement intent and outcome... My 2 cents
Another thing I felt very helpful was something Kyle Van Hoften pointed out to me and he does marketing for a living, and a lot of it is car related. He told me to post pics of stuff like the Kustenfarht, CA Targa, MX Targa, Laguna Seca, Pebble Beach, Legends, Rally's, gatherings C&C's even. People see those pics and want to be, "that guy." Having fun with his buddies and actually driving these beautiful cars, the camaraderie, etc. I think he had a good point. It's that extra element that the car brings, not just the car. People seem to love a good, "spirited" driving video as well. But Chris's reputation alone along with the car should knock this out of the park.
Good point about Kyle Van Hoften’s advice.
We all know Chris’s Malaga car is the epitome of an exceptional E9. The person who buys this Coupe may not know anything about Chris or the car’s provenance.
We all know Chris’s Malaga car is the epitome of an exceptional E9. The person who buys this Coupe may not know anything about Chris or the car’s provenance.
Great point. Harley sold bikes not because they are good, but because the lifestyle of "cruising with your bro's" sells...
When I was a copywriter in the Halcyon days of "Mad Men" advertising one of the Cardinal Rules was: "Show the product in use." Kyle Van Hoften's advice is spot on.
And those pre-written "blurbs", keep them coming through out the auction.
And those pre-written "blurbs", keep them coming through out the auction.
Chris could offer the buyer a tattoo with purchase.
Tattoo reads “Perpetually Clean”’in a Möbius Infinite Loop
Write-up now approved, scheduling will happen soon but after the 16th. I have more pics and a video in reserve to release something each day. Should I post it going through the river on Nacimiento Ferguson Road?
I would post the river photo but that’s my kind of thing.
I know! I probably will.