SEsteve

BCA Online bidding... PROS AND CONS??

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Hi All

i typically go to auction to buy vehicles but recently have been looking at bidding online instead....anyone have any tips? Is this a complete gamble? Or is now with the bca reports a good time to be buying via online bidding? 

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Its just as much of a gamble as buying out the block, grade 1/2 with a clean mech report yes otherwise no chance. 

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It really depends on what your buying as tom says grade 1-2 cars with good report normally fine though auctions are always a gamble either way . 

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It depends on the quality of stock you’re purchasing. Most of the cars I buy at the block are £1000-3500 & there’s no fucking way whatsoever I buy online!

The auction house assessments are generally pisspoor as they do not cover enough checks. Also half of the assessors wouldn’t know a peach from a lemon.

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I read this thread yesterday and having convinced previously convinced myself my purchase from BB was going to be alright, I broke out in a cold sweat reading the advice. My purchase was an in hindsight a very foolish roll of the dice. It's a rare motor so I took a chance on the basis it was a 1 owner with good history etc BUT it was grade 4 with the overage "look at the basic photos" report only and sold as seen and 7k and I was the only bidder! 

Turned up today and I emerged with my eyes squinted to minimise the retina damage from the horrendous bodywork and not to mention the noises from the engine and gearbox.

In this event it turned out to be a peach but I won't be this brave / stupid again. 

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5 hours ago, Huggins said:

I read this thread yesterday and having convinced previously convinced myself my purchase from BB was going to be alright, I broke out in a cold sweat reading the advice. My purchase was an in hindsight a very foolish roll of the dice. It's a rare motor so I took a chance on the basis it was a 1 owner with good history etc BUT it was grade 4 with the overage "look at the basic photos" report only and sold as seen and 7k and I was the only bidder! 

Turned up today and I emerged with my eyes squinted to minimise the retina damage from the horrendous bodywork and not to mention the noises from the engine and gearbox.

In this event it turned out to be a peach but I won't be this brave / stupid again. 

Maiden bid and hammer down ! You must have been panicking.Some clever dick in the hall may have tried a piss poor starting bid and the auctioneer was proving a point.

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If they had a roving camera man rather than a small box with a security camera for a live picture it would be more helpful. A nice live pic of the engine bay hearing it tick over would be ideal. 

Massive gamble with BCA but I've done it with other sites. 

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On 1/31/2020 at 5:05 PM, Huggins said:

I read this thread yesterday and having convinced previously convinced myself my purchase from BB was going to be alright, I broke out in a cold sweat reading the advice. My purchase was an in hindsight a very foolish roll of the dice. It's a rare motor so I took a chance on the basis it was a 1 owner with good history etc BUT it was grade 4 with the overage "look at the basic photos" report only and sold as seen and 7k and I was the only bidder! 

Turned up today and I emerged with my eyes squinted to minimise the retina damage from the horrendous bodywork and not to mention the noises from the engine and gearbox.

In this event it turned out to be a peach but I won't be this brave / stupid again. 

I have turned my best profits this way.

The secret of buying blind is to make sure the potential profit on the car will cover any eventuality, so if its a lemon, the worst that can happen is you don't make any money. So don't bid unless the potential margin is big. Doesn't happen often!

It generally only works with older higher value grade 3 and 4 cars. 

Grade 1 and 2, everyone and their dog wants it and cheaper model grade 3/4 there is not enough margin for the risk to be worthwhile.

In my experience almost every car over 9 years old is graded 3/4. Often, they turn out to be grade 2 at the worst. I find the opposite to be true with newer cars. Often a 4 year old grade 2 will need as much spending on it as a 10 year old grade 4

 

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2 hours ago, XFS said:

I have turned my best profits this way.

The secret of buying blind is to make sure the potential profit on the car will cover any eventuality, so if its a lemon, the worst that can happen is you don't make any money. So don't bid unless the potential margin is big. Doesn't happen often!

It generally only works with older higher value grade 3 and 4 cars. 

Grade 1 and 2, everyone and their dog wants it and cheaper model grade 3/4 there is not enough margin for the risk to be worthwhile.

In my experience almost every car over 9 years old is graded 3/4. Often, they turn out to be grade 2 at the worst. I find the opposite to be true with newer cars. Often a 4 year old grade 2 will need as much spending on it as a 10 year old grade 4

 

Yes exactly as you said - I just came back to add that I've had newer cars in horrendous condition on a grade 2/3 with a list as long as your arm and additional damages or previous, not noted.

..Whilst we're on topic what's the general consensus on WBAC entries - as we know they don't check much mechanically when they buy them in and I've often thought they are a dumping ground for the public stuck with problem cars. However at the end of the day they can't all be bad - but I've so far avoided buying any from the group. Do you take the gamble with them ? 

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I notice chris from flipping cars did a video on this another day on youtube i prefer to attend auctions when i can but he seems to think your better doing it online so i guess everyone has there own preferences  

On 1/28/2020 at 9:51 PM, SEsteve said:

Hi All

i typically go to auction to buy vehicles but recently have been looking at bidding online instead....anyone have any tips? Is this a complete gamble? Or is now with the bca reports a good time to be buying via online bidding? 

 

Edited by Casper

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On 2/3/2020 at 7:20 PM, Casper said:

I notice chris from flipping cars did a video on this another day on youtube i prefer to attend auctions when i can but he seems to think your better doing it online so i guess everyone has there own preferences  

 

Nice find! Thanks will give him a follow too! 

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Posted (edited)
55 minutes ago, Umer said:

Nice find! Thanks will give him a follow too! 

He's worth a watch . I used to watch him on a tv show years ago 

Edited by Casper

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Just now, Casper said:

He's worth a watch . 

Indeed just finished watching his video “7 businesses a car guy can start after lockdown” some great ideas and tips. 

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Posted (edited)
41 minutes ago, Umer said:

Indeed just finished watching his video “7 businesses a car guy can start after lockdown” some great ideas and tips. 

:D:) Yeah had a watch myself 

Edited by Casper

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11 hours ago, Casper said:

He's worth a watch . I used to watch him on a tv show years ago 

Really? Can you remember what it was called?

P.s, I tend to buy online, despite being 10 minutes from my local BCA. It allows me to get on with other things while still being able to bid, I can't really afford to spend half a day at the auction hall twice a week. Although I do enjoy bidding in person when I get the chance/ make time

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16 minutes ago, J.B said:

Really? Can you remember what it was called?

P.s, I tend to buy online, despite being 10 minutes from my local BCA. It allows me to get on with other things while still being able to bid, I can't really afford to spend half a day at the auction hall twice a week. Although I do enjoy bidding in person when I get the chance/ make time

Deals steals and wheels .the program was called . 

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Anyone seen calvins car diaries, canny watch, lockdowns getting boring 

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On 5/11/2020 at 1:08 AM, Stephen said:

Anyone seen calvins car diaries, canny watch, lockdowns getting boring 

I've just recently come across him, I can't say i am too impressed, he doesn't really give much in the way of "advice", it's more of a blog for him to "show off." Chris form flipping cars seems like he is genuinely happy to share his tips/ideas to help others get on.

 

Sorry my first post so Hi all!

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Watched him on YouTube a few times, I don't think he would impress everyone, but then you don't need to in order to make a good living.

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