Ferrari Mailing List: Re: How Best To Sell 512TR

[LS (lashdeep]

I like Gary's answer. A prominent broker wanted me to sell my car for X and then take 0.10X for the sale.

I ended up selling the car at 1.2X myself 6 mos later and the proceeds stayed in my pocket.

Don't hesitate to take it to a few local shows and let the important people know that you are thinking about selling it.

Do you have an Indie mechanic? They might have customers looking also.

Good luck!

LS

 

central

wines-spirits   est 1934

625 e street nw

washington, dc 20004

centralwines.com

facebook.com/CentralLiquors

202-737-2800

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From: Larry Bard <larrybard [at] hotmail.com>
To: LS <lashdeep [at] yahoo.com>
Cc: Ferrarilist <ferrari [at] ferrarilist.com>
Sent: Friday, May 1, 2015 1:44 PM
Subject: Re: [Ferrari] How Best To Sell 512TR

Gary,

Thanks much.  That's very helpful and reassuring.  (And surprising that none of the buyers inspected the cars you sold.)  I could even offer to take the car to the area Ferrari dealer (Algar), which performed all the major servicing, if a prospective buyer wishes to have Algar do a PPI (at the buyer's expense, of course).  And of course I would accommodate their shipper, etc.

I suppose one key, as with almost any sale of items of any significant value, is plenty of disclosure of condition, and lots of pictures.

Larry

P.S.  I hope I get additional lister comments that are similarly helpful, but I feel comfortable moving forward with this based on yours alone .

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From: gary [at] garyreedsales.com
To: larrybard [at] hotmail.com
CC: ferrari [at] ferrarilist.com
Subject: Re: [Ferrari] How Best To Sell 512TR
Date: Fri, 1 May 2015 10:31:36 -0700

Hi Larry,

 

My suggestion would be to list your Ferrari on eBay with a set reserve price that you can live with.

 

Do a 10-day ($40 extra fee and schedule the start date so the auction ends on a Sunday) INTERNATIONAL auction and require the payment to be

BANK WIRE TRANSFER only. 

 

I've sold four sports cars on eBay, including a Ferrari 512BBi and all of the auctions went extremely well, even an international

sale to a buyer in Italy who bought my Fiat 124 Turbo Spider.  All of the other buyers were out of state and none of them came to inspect the cars.

All of them arranged their own shipping and I simply scheduled a time with the truckers to load the cars at my home.

 

If I had used a broker (like Sheehan)  to sell my Boxer, his commission would have been $15K.  eBay charge is a flat $125 fee, if the car sells.

 

Good luck!

 

Gary

 

PS: Feel free to contact me privately, if you have more questions about selling on eBay.

 

 

 

 

----- Original Message -----

From: Larry Bard

To: Gary Reed

Cc: The FerrariList

Sent: Friday, May 01, 2015 9:53 AM

Subject: [Ferrari] How Best To Sell 512TR

I’m considering selling my 1992 512TR (rosso corsa/tan, about 40k miles) and would like the benefit of the collective wisdom of this List as to the likely best means of doing so.  Obviously I would like to sell in a manner that tends to maximize net proceeds and minimize the hassle (non- or semi-serious prospective purchasers, some of whom may be primarily interested in a free test drive, etc.).

A private sale via posting on a website such as eBay or cars.com may tend to maximize proceeds – but also maximize time spent, notably including attempting to somehow identify truly bona fide prospective purchasers.  Using a broker – and I am well aware of at least one, on this List, with a great deal of knowledge and experience who is highly respected and conveniently located in my geographic area – would almost certainly minimize the hassle.  But also probably materially diminish the net proceeds to me (though I recognize a good broker with plenty of valuable contacts might in fact increase net proceeds to me by finding a buyer willing to pay more for the car -- or simply be able to find a buyer despite none coming forward as a result of the other means.)

I’d also appreciate any suggestions concerning determination of a fair price.  From what I have heard over the years – not just from Clyde -- it’s clear that FML offering prices tend to be greatly inflated compared to likely eventual sale prices, and dealers' posted "ask" prices bear little resemblance to their "bid" prices for cars they are willing to purchase from customers.  There also seems to be dearth of historical sales price data (although there is some indication that two sold within the last few months on eBay, for $149,000 and $154,000).

TIA,

Larry

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