Does this markup seem outrageous?
Thread Starter
Pro
Joined: Oct 2004
Posts: 546
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From: CA
Does this markup seem outrageous?
I was looking at the Pro-team site tonight and I saw they have a whole bunch of new cars. I started reading the descriptions and some of them sounded very familiar. Eventually I realized these were cars sold at the recent Mecum auction. So I went to the Mecum site and checked out the prices these exact cars sold for.
It looks like each car I remembered is marked up at least $30-$35K. In one case the selling price was only $70K, which means almost a 50% markup.
Now I know a dealer who goes to the auction, buys the car, transports it back ought and resells it ought to make some money but these markups seem outrageous to me. Am I being a little naive?
Pat
It looks like each car I remembered is marked up at least $30-$35K. In one case the selling price was only $70K, which means almost a 50% markup.
Now I know a dealer who goes to the auction, buys the car, transports it back ought and resells it ought to make some money but these markups seem outrageous to me. Am I being a little naive?
Pat
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I have watched that with interest as well. It's to be expected with all the fees, transportation costs they need to pay. Lots of overhead. They certainly aren't in business to lose money. I have always felt you can do better as a buyer dealing with a private party and a known history of the car.
Le Mans Master
Joined: Nov 2008
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From: columbus oh
I have watched that with interest as well. It's to be expected with all the fees, transportation costs they need to pay. Lots of overhead. They certainly aren't in business to lose money. I have always felt you can do better as a buyer dealing with a private party and a known history of the car.
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Drifting
Joined: Feb 2010
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From: Richmond Texas
I was looking at the Pro-team site tonight and I saw they have a whole bunch of new cars. I started reading the descriptions and some of them sounded very familiar. Eventually I realized these were cars sold at the recent Mecum auction. So I went to the Mecum site and checked out the prices these exact cars sold for.
It looks like each car I remembered is marked up at least $30-$35K. In one case the selling price was only $70K, which means almost a 50% markup.
Now I know a dealer who goes to the auction, buys the car, transports it back ought and resells it ought to make some money but these markups seem outrageous to me. Am I being a little naive?
Pat
It looks like each car I remembered is marked up at least $30-$35K. In one case the selling price was only $70K, which means almost a 50% markup.
Now I know a dealer who goes to the auction, buys the car, transports it back ought and resells it ought to make some money but these markups seem outrageous to me. Am I being a little naive?
Pat
A old friend of mine told me once, "I never make a penny selling a car, I made all my money when I bought it."
Drifting
Joined: Feb 2005
Posts: 1,788
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Maybe for the cars quality they sold reasonable. Pro team sends a lot of cars over seas for huge dollars. They advertise here but sell there. They still want to buy private sale cars where they are available and never advertise they sell abroad. Follow the money.
What better way to raise prices than have fewer cars in the US available.
What better way to raise prices than have fewer cars in the US available.
Racer
Joined: Nov 2008
Posts: 339
Likes: 1
From: Tampa Florida
I was looking at the Pro-team site tonight and I saw they have a whole bunch of new cars. I started reading the descriptions and some of them sounded very familiar. Eventually I realized these were cars sold at the recent Mecum auction. So I went to the Mecum site and checked out the prices these exact cars sold for.
It looks like each car I remembered is marked up at least $30-$35K. In one case the selling price was only $70K, which means almost a 50% markup.
Now I know a dealer who goes to the auction, buys the car, transports it back ought and resells it ought to make some money but these markups seem outrageous to me. Am I being a little naive?
Pat
It looks like each car I remembered is marked up at least $30-$35K. In one case the selling price was only $70K, which means almost a 50% markup.
Now I know a dealer who goes to the auction, buys the car, transports it back ought and resells it ought to make some money but these markups seem outrageous to me. Am I being a little naive?
Pat
Le Mans Master
Joined: Aug 2009
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From: Houston Texas
St. Jude Donor '10-'12-'13
Le Mans Master
Joined: Aug 2009
Posts: 5,474
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From: Houston Texas
St. Jude Donor '10-'12-'13
Maybe for the cars quality they sold reasonable. Pro team sends a lot of cars over seas for huge dollars. They advertise here but sell there. They still want to buy private sale cars where they are available and never advertise they sell abroad. Follow the money.
What better way to raise prices than have fewer cars in the US available.
What better way to raise prices than have fewer cars in the US available.
America and it's products are at bargain basement rates.
Drifting
Joined: Oct 2009
Posts: 1,939
Likes: 199
From: Palm Bay Florida
If you see Terry at a sale he looks at every car there and decides what he will pay for it, when the bidding starts he is in it till it gets to his price then he sits down and stops bidding. He knows what he can get for cars. Asking prices are just that, you never know what someone wants to trade or what they think it is worth so you have to act accordingly. He has been doing this a long time maybe he has it figured out.
Mark
Mark
Le Mans Master
Joined: Dec 2012
Posts: 6,196
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From: Denton, Texas
I have watched that with interest as well. It's to be expected with all the fees, transportation costs they need to pay. Lots of overhead. They certainly aren't in business to lose money. I have always felt you can do better as a buyer dealing with a private party and a known history of the car.