Oldfart
Well-Known Member
That is a risky move at times. The last vehicle that went up for bid was a 2003 Jeep. Lift kit, killer tires and rims. Super clean and low miles. The crowd had thinned out and bidders were tired and broke. The bids were slow to come by so the seller dropped the reserve. This Jeep sold for $2k. It was worth 3 or 4 times that and the seller knew he made a mistake when they dropped the hammer.Shoulda dropped the reserve.
Saw plenty of cars selling below true value at times and then other times bidders got caught up in the excitement and overpaid for a car.
I saw a Jaguar station wagon, never seen one, sell for around $6k. It was 2006 or so with 80k miles on it. Might have been the deal of the day besides the Jeep.
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