Appraise me!

Discussion in 'Motorized Vehicles' started by CanadianDude, Jun 25, 2009.

Thread Status:
Not open for further replies.
  1. CanadianDude

    CanadianDude Notebook Deity

    Reputations:
    507
    Messages:
    1,476
    Likes Received:
    2
    Trophy Points:
    56
    Found this car at an auction taking place in a couple days.

    Not a theft recovery, probably a repossession. either way, good condition, no accidents.

    2004 Cadillac CTS. 80 000 miles (128500 km).

    What is the most I should bid?? (in Canadian dollars)
     
  2. Colton

    Colton Also Proudly American

    Reputations:
    1,253
    Messages:
    2,086
    Likes Received:
    0
    Trophy Points:
    55
    What engine does it have in it and is it automatic or manual?

    If it's the automatic and with the 3.2L V6, then no more than 10K. ;)

    If it's the manual with the 3.6L V6, then no more than 11K. ;)
     
  3. Shyster1

    Shyster1 Notebook Nobel Laureate

    Reputations:
    6,926
    Messages:
    8,179
    Likes Received:
    0
    Trophy Points:
    205
    How clean is the title and/or how good will the title you get be?
     
  4. Sodium

    Sodium Notebook Enthusiast

    Reputations:
    347
    Messages:
    42
    Likes Received:
    0
    Trophy Points:
    15
    he is bidding at an auction, not negotiating with a car salesman.....
    i would bid no more than 5000 bucks for that thing
     
  5. Colton

    Colton Also Proudly American

    Reputations:
    1,253
    Messages:
    2,086
    Likes Received:
    0
    Trophy Points:
    55
    Ah. The most that I would pay for it is $11,000.
     
  6. Shyster1

    Shyster1 Notebook Nobel Laureate

    Reputations:
    6,926
    Messages:
    8,179
    Likes Received:
    0
    Trophy Points:
    205
    Your point being....? Who mentioned negotiating with a salesman?
     
  7. Sodium

    Sodium Notebook Enthusiast

    Reputations:
    347
    Messages:
    42
    Likes Received:
    0
    Trophy Points:
    15
    10k or 11k is what a salesman at a used car dealership would tell you is a deal
    who would be crazy enough to offer that much at an auction? .........
     
  8. Colton

    Colton Also Proudly American

    Reputations:
    1,253
    Messages:
    2,086
    Likes Received:
    0
    Trophy Points:
    55
    That's the most somebody SHOULD pay for it.
     
  9. Shyster1

    Shyster1 Notebook Nobel Laureate

    Reputations:
    6,926
    Messages:
    8,179
    Likes Received:
    0
    Trophy Points:
    205
    Well, let's see, as far as I recall, the way an auction works is, someone makes a low opening bid, and then everyone who wants a crack at the object being auctioned puts in competing bids - each bid must be higher than the preceding bid - until the point is reached at which no-one is willing to submit a higher bid. Now, if you really have an ego, and money to burn, you could bid the price of this thing up beyond its actual fair market value; however, if you're looking to try and make an economically sensible purchase through an auction, you would be best advised to not let yourself get suckered into playing a game of auctioneer's chicken, and stop bidding when the price reaches what you believe is most likely to be the car's fair market value - there's no point in bidding beyond that (other than ego) because you could simply walk down to a used car lot and buy another version of the same thing for that price without the hassle of an auction.

    Thus, Colton's info is quite useful - to the extent that it actually has a solid rationale behind it - because it helps to establish the price point beyond which the OP should not go.

    That is exactly how Colton posted his info; nothing in his post in any way implied that he thought the OP should just walk into the auction, and bid up $10k or $11k immediately - where did you find the implication?
     
  10. Sodium

    Sodium Notebook Enthusiast

    Reputations:
    347
    Messages:
    42
    Likes Received:
    0
    Trophy Points:
    15
    obviously you dont know how those auctions work. he is not going to a classic car auction T.T
    the type of auction he is talking about are cars from police impound lots or bank repossessions...... people go to those auction in search of a good deal. not to throw out how much the car is worth
     
Thread Status:
Not open for further replies.

Share This Page