COYS auction house

[pirateBOB]

Hi everyone,

I put my ph2 vee up for sale late last week on the national websites (buying a house and my toy must go. Gutted). Have had some interest but mostly time wasters. I did however receive an email from COYS auction house London, saying they were " consigning rare and important cars" and "would welcome my v6 in their up coming auction at Fontwell House in West Sussex takes place on the 8th of September in the lead up to the Goodwood Revival"

I was quite surprised actually, yes i really look after my vee but shes hardly a garage queen with a handful of miles on the clock. (cars done 60k) Always thought COYS went for the really exotic metal.

Has anyone on the forum ever put their car up for sale via auction or been to one of these events?

 

[MarkK]

I go to lots of classic car auctions and have been to the revival auction. I really don't think that a classic auction is the place to sell a good, straight and honest car, and I'm pretty sure that the revival isn't the right venue for a Vee.

Most of the private buyers will be focused on the cars they know about, usually from the 50s and 60s. They won't even notice the Vee.

The trade buyers will only buy something for 20% - 30% less than they think they can sell it for. This is fair enough as there are of course no guarantees with cars at the auction. Many cars get sold at auction because they have issues, from small cosmetic problems, lack of use problems through to the car needed to be fully rebuilt. There are of course some superb cars as well, but most well known, spot-on cars with provenance get sold privately, or through a specialist dealer, not at auction.

You will be charged 10% to 15% sellers fee, which will take £2k or £3k off your selling price. Remember also that the buyer has to pay £10% - 15% buyer's fee, so he's not going to pay top whack for the car.

I think that you'd be better off lowering your price and selling the car privately. It would sell tomorrow at the right price, so the only challenge is to find that price!

 

[rustedandrotten]

Totally agree with Mark on this one, as he so rightly says, unless the car is a true specialist one off or has fantastic provenance where an auction is the only real way to determine a realistic value, you are better off shying away. At the moment, any Vee turning up to auction is not making top value as people are still wary of cars that are sold without warranty, most people look at car auctions as somewhere where people unload their problems! if you re in a hurry, 'We Buy Any Shite.com' seem to be offering pretty much top end of trade values, don't take first price offered and don't let them beat you down :approve: Good luck with the sale :salut:

 

[Alpineandy]

Coys are interested in selling any car which gains them a decent commission.
If they were still available for £6k then they wouldn't be interested...