Collecting Cars have just debited £1215 during an Evora auction and it's not even ended (and I am not even the highest bidder)?

[superdavelotus]

Just had message from my bank to say that it's been debited £1215 from Collecting Cars!! I have been bidding on an Evora but it's not ended yet and I am not the highest bidder, so why have they taken money out of my bank?

Crazy if you ask me!

I'll be getting in touch with them first thing in the morning, not happy!

[Slotus]

I'd be getting in touch with the police, NOW! (not that they'll do anything, they never do, but get a crime number if nothing else)... and then your bank... and then Trading Standards for wherever they're based. Give them grief!

[exeterjeep]

And leave plenty of negative comments on all their social media.

Would have thought you'd get an email from them, almost sounds as if they have used your details on someone else's account/order.

[Bibs]

Did this get resolved Dave?

[mik]

I was wondering the same @superdavelotus (and whether they actually took payment, or "just" reserved it?)

[jerzybondov]

It's standard practice for them to put a 'hold' across your card for the value of their commission at the level of the first bid you make. They're protecting themselves from people who bid on stuff and don't have the means to even pay the commission. If you don't win the auction, the hold will be released in a few days. If you do, you'll either find this hold turns into the purchase debit (at a slightly higher level given what it will ultimately go for), or they'll charge you a new fee in addition and release the hold.

I've had a few experiences with the team at CC - can't say I'm a fan. They're very pushy and very driven by their own commission. They don't really care about buyers or sellers, only that they get their slice. 

[superdavelotus]

Hi all, 

It did get resolved. Yes it was a hold but I had of known this I would have made sure funds were in place. I bought a car from Bonhams recently and when I was bidding, no money came out of my account or even a hold. It wasn't until the last few minutes of auction, I decided I was serious, so I transferred some money into my current account to make sure it covered the comission if I won. It was only when I won that auction did the payment show on my account.  I think I'll be closing my CC account because I am not happy with their process. On a side note, I did notice that my country of origin was incorrect. My address and postcode all correct but country said Germany. Anyhow, the payment they held was 6% but no VAT. A loophole for others buyers perhaps lol!

[jerzybondov]

Slightly off topic but how was your experience with Bonhams? Was it Bonhams Cars Online? There's one on there at the moment I'm serious about bidding hard on!

[superdavelotus]

Overall it was good. I would say 7/10 as I had one or two little issues but they resolved it. The main one was that when I won the auction, the seller wouldn't make contact with me. Perhaps it wasn't the price he was looking for but who knows? At first, we wouldn't reply to my calls, texts, emails and when I got through on the phone, he would hang up. It took a week to get his bank details and I had to get Bonhams involved. My initial contact with Bonhams, they told me to simply keep trying the seller. I got the car in the end and I even had it transported home via Bonhams indpendant transport companies. I am so glad I did because the car would not have made it. I couldn't select gears, it had no coolant in header tank, there was a coolant leak, running cold and a misfire too. Oh and I forgot to say that the rear caliper nearly fell off on one of my test drives! The story could have been completely different had I tried to drive it home! I am gald to report all these jobs and about 20 more jobs have been completed. A few jobs more before I will be happy with it!

[jerzybondov]

Gosh. How weird from the seller?! At least you didn’t have to meet them in person!

Do you mind if I ask what you bought? And was the condition it arrived in more or less what you thought you were getting? (Assume you didn’t see the car in person pre bidding). 

[superdavelotus]

I bought an Esprit V8 GT. Upon first impressions, it was better than I was expecting as the engine ran and the clutch and gearbox both worked. If any of these were bad then it would have been bad news. I've never bought a car unseen before and don't know why I did to be honest. Within the first few hours, more and more stuff was wrong with the car. I've corrected, adjusted, replaced about 40 items on the car so far and it needs about 10 more things to complete it. So while the seller may have thought he was letting the car go cheap, it wasn't drivable or usable. I've put in a lot of hours, which I've really enjoyed.

So overall, given that I was expecting to put a lot of little jobs right, I think the condition was better than I was expecting.

A word of caution though, I suspect that most cars that go to auction (even those ones going to specialist auctions) are being off-loaded because of some fault. If these cars were all in tip top condition then why wouldn't a seller advertised them on a classified site? There are plenty of free ones. I know some sellers can't be bothered with the hassle and tyre kickers too but I reckon the majority of cars are hiding something. You do on ocassion get a genuine car that goes for more than expected but these are not as common as people would like to think.

[jep]

Spot on. 

If you're buying a car in auction, it is 90% luck and 10% skill (IE. You need to be a wise and experienced purchaser). 

So don't try it without the 10%.

Justin 

[jerzybondov]

2 hours ago, superdavelotus said:

I bought an Esprit V8 GT. Upon first impressions, it was better than I was expecting as the engine ran and the clutch and gearbox both worked. If any of these were bad then it would have been bad news. I've never bought a car unseen before and don't know why I did to be honest. Within the first few hours, more and more stuff was wrong with the car. I've corrected, adjusted, replaced about 40 items on the car so far and it needs about 10 more things to complete it. So while the seller may have thought he was letting the car go cheap, it wasn't drivable or usable. I've put in a lot of hours, which I've really enjoyed.

So overall, given that I was expecting to put a lot of little jobs right, I think the condition was better than I was expecting.

A word of caution though, I suspect that most cars that go to auction (even those ones going to specialist auctions) are being off-loaded because of some fault. If these cars were all in tip top condition then why wouldn't a seller advertised them on a classified site? There are plenty of free ones. I know some sellers can't be bothered with the hassle and tyre kickers too but I reckon the majority of cars are hiding something. You do on ocassion get a genuine car that goes for more than expected but these are not as common as people would like to think.

I completely agree. There are a few reasons why cars go to these kinds of auctions IMO - in order of most common to least common:

1) The car is a dog. Or hiding something that wouldn't be acceptable through private sale.

2) Trade seller took it in part ex and needs to shift. Doesn't suit their business to sell themselves.

3) Probate sale. Family just need to shift the asset.

4) Vendor is rich, and just wants to shift the car. The soft auction price easily offsets the time and energy required to sell privately

5) The car is incredibly rare, and auction is the best way to maximise the value by setting off a bidding war. 

So trying to ascertain which of these categories it is is part of @jep's 10% skill quotient! 

What you really want is number 3 (especially if cherished), but 2 and 4 are fine too. Unfortunately most are number 1. 

 

@superdavelotus By the way, which Esprit V8 GT did you get? The red one or the silver one? (I just took the liberty of looking at their past results - both cars presented well TBH!) 

 

Edited March 15 by jerzybondov

[superdavelotus]

The red one as my avatar!

[jerzybondov]

Doh, obviously!!

Edited March 15 by Bibs

[superdavelotus]

I did have a titanium V8 Gt for the last 18 years and sold it last October because of lack of use. My intention was to buy an Emira or Evora but the missus wasn't happy with the idea of me spending £70k on a car, so the Emira is out of the question. Plus the week I sold my other V8, my wife was diagnosed with breast cancer, so everything's been up in the air at the moment. The red V8 I got from Bonhams was a moment of madness after a few beers, which I really shouldn't have bought lol! I would still like to get an Evora 400 at some point.

Edited March 15 by Bibs

[jerzybondov]

Moments of madness are what makes life worth living!

And really sorry to hear about your wife's diagnosis. I hope she's getting really good care. 

 

Edited March 15 by Bibs

[superdavelotus]

2 hours ago, jerzybondov said:

Moments of madness are what makes life worth living!

And really sorry to hear about your wife's diagnosis. I hope she's getting really good care. 

 

Thanks, she doing OK. Had 3 ops in January and now just waiting for 15 sessions of radiotherapy in the next 2 week.