WBAC valuation of my 3.5is

[IRD]

In an idle moment in March during the Lockdown I asked for a valuation of my 2010 Melbourne Red 3.5is from WBAC. The car has done just under 44000 miles and has full service history. I was interested in getting some idea of it’s worth. First response was £9265. Needless to say I didn’t proceed. However, they have contacted me on four further occasions. Each time the offer has increased. From £9265 to £9695 to £11200 to £11600 and today £12000. So quite an increase. Of course being WBAC if you took it to them to sell they would find all sorts of reasons to reduce the price offered.

[AnubisZed]

Yeah they would, as they've already well under valued it in the first place. Yours is a beautiful example in great condition and well worth a lit more

[Pbondar]

A lot of cars are going up, whether it’s a WBAC master plan who knows..my local spanner mans Audi S5 did the same thing and he got more than 2k more from them than he was expecting….

In one way it’s a bit like house prices, unless you are planning to get out of the market it’s a bit immaterial as the next car you are going to buy has also gone up…eg Argyll Andy great price in his 35is but then had to pay a lot more now for his next car..

[Colin_E]

WBAC offered me £50 for my immaculately maintained 1998 Z3 (not unsurprisingly I declined). Whatever they offer & however steeply their offers increase, I suspect the market can offer better.

[mcbutler]

All of these companies are simply parasites often targeting the vulnerable and desperate.

[inkey$]

All of these companies are simply parasites often targeting the vulnerable and desperate.

...or a good place to get shot of a dog you’ve got no hope of enjoying or ever making money on. Just arm yourself with a code clearer and keep your fingers crossed when they check.

[mcbutler]

All of these companies are simply parasites often targeting the vulnerable and desperate.

...or a good place to get shot of a dog you’ve got no hope of enjoying or ever making money on. Just arm yourself with a code clearer and keep your fingers crossed when they check.

[DPG]

I had my TTS valued by WBAC 2 months ago at £18k, got an email saying it had gone up in value so did another valuation at it came back with £21k.

Audi offered £16,850 part ex against a £40k TTRS

Stuck it on Wizzle at the start of the week and it’s just been collected today for £24k.

[Mr Tidy]

£12K for your stunning 35is is a proper p*ss-take Ian.

But hopefully they will take my sister's 06 plate Mini Cooper with dents on most panels, lacquer peel everywhere and a suspect head gasket off her hands when she finds her next wheels!

[Ole gits rule]

They offered Seb £5.5 for his 23i so they are taking the Mickey - prob £2k under valued but then they have to make a profit somewhere

As been said great if you want to get rid of a mutt but if you have a decent set of wheels - better of selling privately

[Deepseaskateboard]

I think WBAC provides a good baseline for valuations.

You have to remember they have to sell the car on, to someone who will then sell it to a consumer, unless it goes straight to auction.

So, if we assume each seller operates on a 20% margin.

12,000 x 1.2 = 14,400 to the dealer.

14,400 x 1.2 = 17,280 (dealer may round up to £17,999) or operate a higher profit margin.

So, the 12K price whilst isn’t good, you can see how it’s calculated. They start with a lower valuation initially, as if you need the money you will accept lower for it, also they charge more for same day and same week transactions!
Each price also does not include their standard transaction fee.

I think the general consensus here or anywhere is WBAC + 2-3K depending on what similar cars are going for on auto-trader.

35is is a rare car, and if someone really wants a red one, who knows what you can get for it.

[Silverstar]

I think WBAC provides a good baseline for valuations.

You have to remember they have to sell the car on, to someone who will then sell it to a consumer, unless it goes straight to auction.

So, if we assume each seller operates on a 20% margin.

12,000 x 1.2 = 14,400 to the dealer.

14,400 x 1.2 = 17,280 (dealer may round up to £17,999) or operate a higher profit margin.

So, the 12K price whilst isn’t good, you can see how it’s calculated. They start with a lower valuation initially, as if you need the money you will accept lower for it, also they charge more for same day and same week transactions!
Each price also does not include their standard transaction fee.

I think the general consensus here or anywhere is WBAC + 2-3K depending on what similar cars are going for on auto-trader.

35is is a rare car, and if someone really wants a red one, who knows what you can get for it.

WBAC is owned by BCA (British Car Auctions) (last time I checked) and I believe all their cars go to auction. Quite often in auctions they make way over book value so they are onto a good thing.

[Argyll Andy]

I think WBAC provides a good baseline for valuations.

You have to remember they have to sell the car on, to someone who will then sell it to a consumer, unless it goes straight to auction.

So, if we assume each seller operates on a 20% margin.

12,000 x 1.2 = 14,400 to the dealer.

14,400 x 1.2 = 17,280 (dealer may round up to £17,999) or operate a higher profit margin.

So, the 12K price whilst isn’t good, you can see how it’s calculated. They start with a lower valuation initially, as if you need the money you will accept lower for it, also they charge more for same day and same week transactions!
Each price also does not include their standard transaction fee.

I think the general consensus here or anywhere is WBAC + 2-3K depending on what similar cars are going for on auto-trader.

35is is a rare car, and if someone really wants a red one, who knows what you can get for it.

WBAC is owned by BCA (British Car Auctions) (last time I checked) and I believe all their cars go to auction. Quite often in auctions they make way over book value so they are onto a good thing.

Just found out recently that they also own Cinch so now have a direct retail outlet seemingly reflective in their offers as they aren’t going through a 3rd party via the auction now.

I’m sure they still put some of the crap through auction to limit their liability on the retail side.

[Silverstar]

Just found out recently that they also own Cinch so now have a direct retail outlet seemingly reflective in their offers as they aren’t going through a 3rd party via the auction now.

I’m sure they still put some of the crap through auction to limit their liability on the retail side.

Looks like they are doing vertical and horizontal integration.

[IRD]

I agree with mcbutler they prey on the vulnerable. I also hate the fact they lower the price even further when the car is presented. A friend of mine sold his pristine X1 to them. They knocked a further £400 off the price offered because of the supposed cost of repairing stone chips. He needed a quick sale so let it go. Of course they weren’t going to carry out any repairs because the car would go to auction. But as others have said it does give you a baseline. In that, when selling you would always expect to do better than what they offer. I was just a bit bored and filling a bit of time when I filled out the form.It is interesting, however, to see how prices fluctuate and by how much.
In the past I used to enjoy the bartering involved in buying and selling cars. Especially, if I was trading in at a dealers. Now I just want to get the deal done for a fair price. Must be an age thing.