Auctions

Ben · Scooby Slapper Joined: 14 Apr 2003 Karma :

hi,

me and my mate want to get into the "job" of buying used cars/bikes from auctions and selling them off at a profit.
my brother used to have a mate who did this, and was earning like £10000 a week from it alone, but i can't get in contact with him

so, i was wondering if anyone on here has thought about or done this before, or would just be able to give me a bit of advice so i don't go and blow our money on a duff car/bike?

ben

ps i found loads of used car auctions, but do they do the same for bikes?
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Guns don't kill people.......people kill people

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Scooby · Scrappy Doo Joined: 26 Mar 2002 Karma :

https://www.hbc.co.uk
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A big enough hammer fixes anything!

Robby · Dirty Old Man Joined: 16 May 2002 Karma :

Apparently bike auctions aren't a very good way to pick up cheap ones - lots of people with the same plans as you there. You'll probably do a lot better buying off ebay and selling privately or in local bike auctions.

Don't know about cars, but I think you get a lot more chance of getting a bargain at auctions there. More to look out for tho.

As for avoiding a duff one, are you or your mate any good with the spanners? If not i'd avoid the trade.

Oh and you need to be good at it to earn money - you'll be making little if anything when you start off.

Ben · Scooby Slapper Joined: 14 Apr 2003 Karma :

well i have a fairly good knowledge of car engines, i have done some basic engine work for BMW and a bit for ferrari, so i do have some knowledge, and hopefully i am doing automotive engineering at uni this year which will give me more knowledge.

i think i can notice a good deal when i see one. we are hoping to get nearly £15-20k for the first car, and should be able to make a few thousand each of the first car, then keep going and get more expensive cars, rag the sh*t out of them then sell them at a good profit.

if you no what you are doing and set yourself the right sort of limits and make sure you stick to them you should be able to make a profit but it could be a few weeks before you start to make the big bucks

ben
____________________
Guns don't kill people.......people kill people

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Ben · Scooby Slapper Joined: 14 Apr 2003 Karma :

oh, and thanks scoob but those are wrecked cars, we want to buy ones that work and have an MOT and stuff

ben
____________________
Guns don't kill people.......people kill people

RIP David Jefferies

Robby · Dirty Old Man Joined: 16 May 2002 Karma :

You won't find a big mark up if your buying and selling roadwrothy - much more to be made in getting ones that are just below MOT standard, getting them through and selling them on.

Ben · Scooby Slapper Joined: 14 Apr 2003 Karma :

no, because i want to get imported japanese high performance cars which can be got for just over half the price you would pay in england. i know because my cousin bought a brand new right hand drive subaru impreza turbo wrx for £15k when the retail in uk is over £25k.

ben
____________________
Guns don't kill people.......people kill people

RIP David Jefferies

TiN · Pocket Tin Joined: 14 Feb 2002 Karma :

You seem to putting yourself in lots of markets here...first it was used cars, then cars from auctions (which are usually insurance write-offs/stolen recovered), then you mention bikes, then grey imports, and now parallel imports? Make up your mind mate!

If you want to deal in exotic cars, then you'd ideally need a bod in Japan or something. That person would then be in charge of attending auctions over there, and then arrange for shipment here.

You need to bear in mind the shipping and (most of all) duty costs that go along with imports.
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TiN
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Ben · Scooby Slapper Joined: 14 Apr 2003 Karma :

i am looking at imported japanese performance cars that are already brought into uk and all fees paid, then they are put into an auction in the uk.

www.bca.com i think it is is the british car auction company they do this sort of thing.

my brothers mate did the same and he is now dealing in brand new skyline gtrs and ferraris and stuff like that.

by the way i am looking at second hand imports cars, thats what i meant from the beginning, but i realise that this isn't a huge market so i was willing to look into your norma everyday cars aswell

ben
____________________
Guns don't kill people.......people kill people

RIP David Jefferies

Scooby · Scrappy Doo Joined: 26 Mar 2002 Karma :

Ben the cars on bikes on that site are not all write offs at all. There are loads, ranging from Cat A to Cat D. There are loads of stolen recovered too. That's where the money is.
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A big enough hammer fixes anything!

Ste · Not Work Safe Joined: 01 Sep 2002 Karma :

The real money in there is being the one who organises the import, orders the car, does the paperwork, then sells it to someone in the UK.

And yeah, you do kinda mention lots of different things you want to do Confused

You will need a nice buisness plan, and a friendly bank manger (and probably a house to secure your loan on Confused

)

Ben · Scooby Slapper Joined: 14 Apr 2003 Karma :

we are going to get loans from our parents. because basically they can get more, and get a better interest rate on it.

trust me, i'm sure you can make a good old bit of money buying imported cars from an autioneer.

plus, this isn't likely to start until the earliest, 6 months, so we will get a good business plan sorted out. my mum is a consultant so she works with people who do business plans for a living, so she is going to try to get one of them to sort out a top notch plan

ben
____________________
Guns don't kill people.......people kill people

RIP David Jefferies

andrew · Mister Road Rage Joined: 03 Feb 2002 Karma :

Right... its a very good idea but unless you know someone at the auctions you'll find it practically impossible to buy anything decent. All the decent stuff will go to those who are really after it and you basically wont have a chance. A lot of the auctions are dodgey and you get auctioners teaming up with bidders and pocketing a bit of money for letting them win certain bids, in the majority of cases this is the stuff everyone else is after. I know this because ive been to quite a few auctions myself and on a number of occasions its been with the people rigging the bidding, bikes are also a bastard to win auctions on unless you know people at the auctions. My advice, give it up!

Scooby · Scrappy Doo Joined: 26 Mar 2002 Karma :

I know what you mean Andrew. My uncle is the manager at HBC in Canvey Island, and when I wanted a ped I got one that was a year old for £650 with just a few scuffs to the plastics, because he made sure I won, he told all the other bidders it had been dragged out the Thames Very Happy

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A big enough hammer fixes anything!

Lee · Trackday Trickster Joined: 02 Jul 2003 Karma :

Ben · Scooby Slapper Joined: 14 Apr 2003 Karma :

i think you save a lot more than that. plus it was bought at an auction, so unless someone bids higher than the retail price you get it cheaper

ben
____________________
Guns don't kill people.......people kill people

RIP David Jefferies

Lee · Trackday Trickster Joined: 02 Jul 2003 Karma :