Collecting Cars Auction - BMW F10 M5 Coming Soon

[OneExtra]

Given cars on this platform seem to do quite well it will be interesting to see how much this sells for, looks like a very clean car with reasonable spec

https://collectingcars.com/for-sale/2016-bmw-f10-m5

[Taheemr]

mid £20s I'd say

[OneExtra]

I think £28K lets have a competition, guesses please chaps

[M5Rick]

£36k with those miles so long as it's not been in a heavy shunt. Makes you wonder why it's up in auction in the first place.

[OneExtra]

Originally Posted by M5theonlyone

£36k with those miles so long as it's not been in a heavy shunt. Makes you wonder why it's up in auction in the first place.

Its a really good platform to sell cars from, plenty of £100K+ cars being sold on there, I would try them with my car if I was looking to sell.

Read the website its a really good way of selling

[ianm5]

Originally Posted by M5theonlyone

£36k with those miles so long as it's not been in a heavy shunt. Makes you wonder why it's up in auction in the first place.

I’ll be suprised if it goes past 28k. It seems clean, newish and has toys ... but you can choose a number of cars from BMW for the same sort of money. 28k hammer price is 29,680 (assuming inc. VAT means it’s within the %).

The auction model is interesting. If I wanted to change cars I’d probably chance it on there with the reserve set at the part Ex. It seems it costs nothing for the seller.

[J11SEK]

Originally Posted by OneExtra

I think £28K lets have a competition, guesses please chaps

£26500 but prob worth more.... but selling at auction costs the seller a good few K imo.
Hard times? No cash? No wage? Debt? Although the property behind would suggest otherwise..
Would deffo need a HPI check.....

[Dormermike]

ooof - buyer pays 6% premium,hefty

[JBala84]

Originally Posted by Dormermike

ooof - buyer pays 6% premium,hefty

£28,500

2016 with such low mileage...

[schrickm5]

It all depends - are people willing to buy luxury cars in these times, with that in mind I am not sure it will go for the high 20's, I would say mid 20's in COVID times.....closer to 30k if we were living in normal times.

[OneExtra]

Originally Posted by Dormermike

ooof - buyer pays 6% premium,hefty

Maybe but buyers know this when biding

[J11SEK]

Originally Posted by OneExtra

Maybe but buyers know this when biding

Hence bidding generally lower to incorporate the 6%......

[ianm5]

Interesting looking at this post and OneExtra post.

That looks like a near perfect f10 which will probably make 30k, the same as a Kia stinger. £400 quid to one extra later and you have 700bhp.

There are much worse cars with much more limited tunability that are holding values relatively better than f10s eg evo X

I wonder when our residuals are going to bottom out?

[OneExtra]

Originally Posted by ianm5

Interesting looking at this post and OneExtra post.

That looks like a near perfect f10 which will probably make 30k, the same as a Kia stinger. £400 quid to one extra later and you have 700bhp.

There are much worse cars with much more limited tunability that are holding values relatively better than f10s eg evo X

I wonder when our residuals are going to bottom out?

The F90s are still dropping which would hit the F10

A pretty decent F90 is now £55k, I think there will be £20K between the two cars always

[M5Rick]

Originally Posted by schrickm5

It all depends - are people willing to buy luxury cars in these times, with that in mind I am not sure it will go for the high 20's, I would say mid 20's in COVID times.....closer to 30k if we were living in normal times.

Covid or not if someone wants these they will buy anyway,I don't think there is a set price for these just guesswork.
Waiting for the price to come down you are just waiting more and missing out. I personally don't like auctions where dealers are bidding wanting to make a quick buck.

[OneExtra]

Originally Posted by M5theonlyone

Covid or not if someone wants these they will buy anyway,I don't think there is a set price for these just guesswork.
Waiting for the price to come down you are just waiting more and missing out. I personally don't like auctions where dealers are bidding wanting to make a quick buck.

These cars are not sold by dealers

[M5Rick]

Originally Posted by OneExtra

These cars are not sold by dealers

I realise that but dealers are sure bidding for them.

[ianm5]

I wonder how they are dealing with shill bidding on the site.

EBay for all of its faults has some background monitoring and accountability of the sellers and buyers (ignoring fact that anyone who has had an issue on the eBay platform will tell you it’s not foolproof)

Reading through the t&c on this site at the end of the auction you auto pay their commission for them ‘introducing you’ to the seller, thereafter you sort it out yourselves. It’s fairly light touch.

I’m not knocking it, that’s probably why it’s cheap and accessible, but in this day and age you sometime assume there are guarantees and so on that come with the service.

If I’m reading it correctly it’s like buying from one of the old school bacon butty local car auctions.

[OneExtra]

Originally Posted by ianm5

I wonder how they are dealing with shill bidding on the site.

EBay for all of its faults has some background monitoring and accountability of the sellers and buyers (ignoring fact that anyone who has had an issue on the eBay platform will tell you it’s not foolproof)

Reading through the t&c on this site at the end of the auction you auto pay their commission for them ‘introducing you’ to the seller, thereafter you sort it out yourselves. It’s fairly light touch.

I’m not knocking it, that’s probably why it’s cheap and accessible, but in this day and age you sometime assume there are guarantees and so on that come with the service.

If I’m reading it correctly it’s like buying from one of the old school bacon butty local car auctions.

I had to Google what that meant, I guess nothing is stopping a friend etc trying to push up the price but unless they are outbid then they would be 6% out of pocket. I am sure this happens on most auctions all over the world.

[OneExtra]

The M5 is currently at £24K with 7 days left. 13 bids so far

[schrickm5]

Originally Posted by OneExtra

The M5 is currently at £24K with 7 days left. 13 bids so far

Thats my theory out the window, I suppose these kind of cars are less sensitive to external factors.

[OneExtra]

Now £25,000 with 3 days