fortunately, the seller had additional cars there to sell and assuming he
continued using his same business acumen , he would be able to make up his
losses on volume !!
jerry wall
Reid Trummel wrote:
>
> Gary,
>
> I don't know for a fact, but I doubt Earl's theory. The seller of this car
> was a dealer with five or so cars there along with an employee or two to
> clean and handle them, etc. He was not a regular Healey enthusiast/private
> party. This was a car that I sold to Rick many years ago as a restoration
> project (although it was (barely) drivable).
>
> The top bid for the car was $51,000 (the $52,000 bid was cast by the seller
> himself). If he had accepted the $51,000 bid, he would have pocketed $46920
> after paying his 8 percent seller's commission, but still had to pay all of
> his other fees and expenses (entry fee, parking, transport, etc., etc.) from
> that figure, and so would have actually pocketed maybe $43-44,000? That
> would have been a pretty low net price for such a nice car.
>
> As it was he paid all of those expenses PLUS 16 percent in commissions (both
> the buyer's 8 percent and the seller's 8 percent), meaning that he forked
> over $8,320. In the end it must have cost him something like $10,000 for
> the privilege of continuing to own his own car! I talked with him
> afterwards and he was not, understandably, a happy guy. I don't know how he
> did on his other cars (one was a lovely white XKE), but surely the expense
> of the Healey set him back a lot.
>
> Complete report and insights in the March issue of Austin-Healey Magazine
> (www.healey.org).
>
> Reid
>
> Reid Trummel
> Portland, Oregon
> 100, 100M, Ski-Master
>
> ---------------------------------------
>
> Date: Thu, 3 Feb 2005 14:29:42 EST
> From: Editorgary@aol.com
> Subject: Healey Den Car
>
> Earl Kagna told me that as far as he knows, the car put up for sale at B-J
> and bought back by the owner is owned and was offered by the person who some
> years ago had Rick Regan help with his restoration. Reportedly it had a bad
> outcome, with litigation. So, doesn't sound like a fresh restoration , but
> may
> have
> been offered by an owner who'd heard Healeys were getting big money at B-J
> and hoped to recoup his own losses by selling his car for top dollar.
> Anything
> less than a fresh restoration being sold at a good time in the schedule that
> was offered $60,000 should have taken it.
> Cheers
> Gary
>
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