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11-20-2011, 12:27 AM
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CC Member
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Join Date: Jun 2003
Location: Australia,
Zzz
Cobra Make, Engine: Shelby alum 468 block
Posts: 14,974
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Not Ranked
Good profit in cars
After attending a recent auction. - well known insurance company in Victoria - I was surprised to see some of the cars being turned around so quickly and at quite high profit margins a few weeks later by the new auction purchasers.
Made me think that auctions are not a bad location to get a bargain to on sell at a high profit.
I recently saw a Corvette purchased at auction and turned over two weeks later for $10,000 profit.
But the yellow Cobra that sold recently at the auction. Featured in the auction results of issue 330 of Unique Cars October/November is a real winner if sold. On page 22.
Sold at auction for $32,000 to a new happy owner who will be even more happy if he makes $16,000 profit on it. Asking $48,000 in the AC Cobra section of Carsales.com. today.
He must have placed the Cobra on Carsales.com the following days.. 
And who says you cannot make money out of your Cobra. Guess he has got to sell it and hope like hell that a potential buyer does not find out he paid $32,000...  the buyer will have some bargaining or negotiating space.. 
__________________
Bernie Knight
KMS 427 #662 Shelby 468 CSX 1026
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11-20-2011, 03:22 AM
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CC Member
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Join Date: Jan 2011
Location: Bolinda,
vic
Cobra Make, Engine: Cobra-less
Posts: 91
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Not Ranked
Yeah, I saw that ad on car point yesterday. It's pretty bold and considering he amount of cobra's available on the net at the moment they might be stuck with it for a while.
You would hope that any potential buyers might do a little bit of research prior to spending $48k!! But common sense ain't that common!  |
11-20-2011, 03:30 AM
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CC Member
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Join Date: Jun 2007
Location: Sunshine Coast Qld,
QLD
Cobra Make, Engine: Harrison # 80; Ford 5.0L HO Trickflow heads, cam and rockers and MassFlow EFI
Posts: 3,482
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__________________
Merv
Ford Cobra
Harrison #80.
Peregian Beach
Sunshine Coast Qld.
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11-20-2011, 09:56 AM
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CC Member
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Join Date: Jun 2003
Location: Australia,
Zzz
Cobra Make, Engine: Shelby alum 468 block
Posts: 14,974
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Not Ranked
Yes it is a bit of buyer beware.
The first thing that I thought of, is how this car was built and registered with the carb motor.
Maybe a very old car.. 
After seeing it at auction and being aware of interest in it or lack of interet, I think it was of case of ... 
..'whoa this thing is going really cheap maybe I will grab it and roll it for a big profit'...
I maybe wrong, but it seems that way when it hit Carsales the following days at a profit margin more fitting for a high end prestige car - not a $32,000 auction buy.
Mmmm just my thoughts.
Bernie
__________________
Bernie Knight
KMS 427 #662 Shelby 468 CSX 1026
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11-20-2011, 10:03 AM
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CC Member
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Join Date: Jun 2003
Location: Australia,
Zzz
Cobra Make, Engine: Shelby alum 468 block
Posts: 14,974
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Not Ranked
Yes there are some good buys at the moment.
Just around the traps the bargains are plentiful, without even going to the car sales type of sites.
Unique magazine and Just magazine have lots of cars for sale and it appears that many are not moving.
There are one or two good bargains in South Aust. also.
This yellow so called bargain has around $4,000 to spend on the interior alone.. after I had a close look. Just being picky now....
__________________
Bernie Knight
KMS 427 #662 Shelby 468 CSX 1026
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11-22-2011, 01:26 PM
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CC Member
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Join Date: Jun 2003
Location: Australia,
Zzz
Cobra Make, Engine: Shelby alum 468 block
Posts: 14,974
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Not Ranked
Was just told this is a re body on a Toyota Crown chassis. If correct it is only worth....
__________________
Bernie Knight
KMS 427 #662 Shelby 468 CSX 1026
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11-22-2011, 04:57 PM
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CC Member
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Join Date: Feb 2002
Location: Alice Springs, central Australia,
NT
Cobra Make, Engine: Classic revival kit (CR3181), gen III engine, T56 6 speed box, AU XR8 lsd diff
Posts: 5,699
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Not Ranked
Bernie, the auction purchase price, does that include the auction houses %?
And until the car sells, the advertised price could be way off the actual sell price.
__________________
Cruising in 5th
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Never be afraid to do something new, Remember, Amateurs built the Ark: Professionals built the Titanic.
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11-23-2011, 03:58 AM
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CC Member
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Join Date: Nov 1999
Location: Brisbane, Australia,
Q
Cobra Make, Engine: Contemporary CCX3117 427FE
Posts: 4,381
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Quote:
Originally Posted by motabag
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Phuck off, spammer.  How do these posts make it to forums? Is it outsourced to Mumbai for kids to spam forums for a few cents salary per day, or are these more sophisticated systems that automatically generate posts on forums.
Either way...
__________________
Craig
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11-23-2011, 03:02 PM
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CC Member
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Join Date: Jun 2003
Location: Australia,
Zzz
Cobra Make, Engine: Shelby alum 468 block
Posts: 14,974
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Not Ranked
Mmmm missed it Craig the US Moderators must have picked that up.
__________________
Bernie Knight
KMS 427 #662 Shelby 468 CSX 1026
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11-23-2011, 03:05 PM
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CC Member
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Join Date: Jun 2003
Location: Australia,
Zzz
Cobra Make, Engine: Shelby alum 468 block
Posts: 14,974
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Not Ranked
Boxed
Dave
I think Shannon's have a similiar set price. However unlike the USA auctions such as Mecums etc. the vendor pays the sale premium. Think it is about 7%.
Unless things have changed the purchaser in Australia pays what they bid.
__________________
Bernie Knight
KMS 427 #662 Shelby 468 CSX 1026
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11-23-2011, 04:56 PM
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CC Member
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Join Date: Feb 2002
Location: Alice Springs, central Australia,
NT
Cobra Make, Engine: Classic revival kit (CR3181), gen III engine, T56 6 speed box, AU XR8 lsd diff
Posts: 5,699
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Not Ranked
All auctions (antique) that I have attended, the buyers pays the fee over and above bid price.
I have never been to a vehicle auction, so you are probably correct Bernie.
__________________
Cruising in 5th
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Never be afraid to do something new, Remember, Amateurs built the Ark: Professionals built the Titanic.
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11-23-2011, 06:27 PM
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CC Member
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Join Date: Jun 2003
Location: Australia,
Zzz
Cobra Make, Engine: Shelby alum 468 block
Posts: 14,974
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Not Ranked
Yes until I really go to bid I will not know what the guidelines are.
I have just been a looker - tyre kicker...
__________________
Bernie Knight
KMS 427 #662 Shelby 468 CSX 1026
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12-09-2011, 04:33 PM
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CC Member
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Join Date: Jun 2003
Location: Australia,
Zzz
Cobra Make, Engine: Shelby alum 468 block
Posts: 14,974
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Not Ranked
Just spoke with someone in the market who has looked at this yellow car on Carsales under AC section - listed at $48,000.
His comment was forget it. Felt interior needed re doing. Not sure but felt chassis was possibly a re body ( thought it may be a Toyota)
The price paid at auction he said was probably to high.
As the vendor is not one of our club members or Cobra owners builder community, but rather a salesman, I felt I would share these views.
Guess it is buyer beware - use this Forum and members in your search. Collectively we know most cars and we are usually happy to check cars out for each other.
__________________
Bernie Knight
KMS 427 #662 Shelby 468 CSX 1026
Last edited by BMK; 12-09-2011 at 04:39 PM..
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