Selling Advice

[Melman]

At risk of getting shot down, I’m after a bit of advice around selling and using specialist trade sellers on a sale or return (or just selling to them).

You may have seen that I’m currently selling my 3.0Si and, in a desire to free up space, I’m at risk of discounting it more than I think I should. Although noting (and largely agreeing with) Pondy’s recent observations on the used car market, I may just be another delusional seller! I personally think £7995 is a reasonable asking price but I’ve come down to £6995 ono in search of a quicker sale.

I’m in the fortunate position where I can hold out for a fair price, if I can move the car out of my garage. I suspect if I took my time, I could realise a better price than I’m asking (not that every last pound is the objective here).

So, a few questions.

1) Am I asking too much? (The car is in the for sale section). 87k, Monaco Blue, Beige leather, new quality rubber, supersprint exhaust (but sensibly set up), roof motor replaced and relocated, new brake pipes, suspension refresh - I could go on. It’s well sorted and in decent condition with good history.

2) Is it worth approaching the likes of Luke Zachary or other specialist sellers to either buy it or take it on SOR? They have not dissimilar cars, with 20k less miles, at £10-11k. This feels crazy money in my view but that doesn’t mean they’re not getting £9-10k from someone for them.

3) I could have it stored locally for around £100 pcm but that then involves more aggregation to keep it ticking over and ready for viewings. I would however be able to hold it a higher price and wait for the right buyer (obviously there’s a time/cost equation here that only works for 4-6 months)

What are people’s thoughts? I’d rather not reduce further but I would take a sensible offer right now. I’d also rather be pragmatic if the consensus is I’m aiming too high, hence the post. Equally I don’t want to see myself off in my haste to free up the garage.

 

[Pondy]

Personally I have a very simplistic view when it comes to selling cars.
If it's advertised in the right places and the advert is quality, with all the information a buyer would need, but isn't getting any sniffs then it's too expensive.

The old saying of "everything will sell if it's the right price" still holds true IMO.

I understand the idea that you could hold out waiting for the day (which may never come) when that ONE person is ready to buy your car, but it is a risk.

My opinions of course, nothing else.

 

[Zedebee]

If you can’t sell it, it just means there are no buyers at your price, not that it’s “too expensive”. Broaden your market and advertise elsewhere to attract more buyers (most people on the forum already have a Z4). Or you can reduce until it’s attractive to the limited number of buyers you are pitching to.

There is no harm at all in approaching the likes of Zachary Luke, although you may be surprised at the offer you get (he probably has a healthy margin).

For what it’s worth I think 6995 is a fair price to pay for what you are offering.

 

[Melman]

Thanks both. I completely agree with the market will decide arguments, my only counter is I’ve only had it up 2 weeks, so I’m just looking to make sure I’m not too rash!

@Zedebee - appreciate the view on price. It’s the specific sense check on price I really wanted to sanity check.

 

[Mr Tidy]

A manual 3.0Si Roadster is a pretty rare car - less than 700 came to the UK - so you don't want to sell it too cheap, but may need to be patient to find the right buyer and as Zedebee said £6,995 looks reasonable. The only downside is your car doesn't have the M-Sport seats.

Personally I'd never go down the SOR route, but maybe that's just me?

 

[Melman]

No, I suspect your instinct about SOR is there for good reason, but at the right numbers it could work for my situation. But there is a fair degree of trust and risk involved, so I’m not entirely sure I’d do it without some strong testimonies from others.

Thanks for the sense check on the price, it’s good to know I’m not pricing at a silly premium. I had a nice chap come round who spoke highly of the car but decided 2.5L was enough for him, which as we all know comes at quite a saving. I need that buyer who wants the full 3.0 experience, without the investment needed for the M!

 

[Pondy]

SOR is the modern way for dodgy car dealers to make money without any financial outlay or risk IMO. It seems to be a growing trend in the less-than-honest car dealing world. I wonder why?

 

[Pondy]

If you can’t sell it, it just means there are no buyers at your price, not that it’s “too expensive”.

Surely that's the same thing?
If there are no buyers at a given price but buyers at a lower price it is too expensive.

I am not saying the OP's car is too expensive BTW as I don't know the market for E85s. But I do keep a keen eye on the market in general and it's terrible.

 

[Pondy]

And of course most of the 'advice' is coming from Z4 owners who have a vested interest in prices staying buoyant. I don't own a Z4 so I look at it from an un-biased perspective.

Buyer's market. Prices are falling. Especially niche markets. Simples.

 

[Miscowjones]

I sold my MX-5 and 130i LE on carandclassic.com last year, but it took 8 weeks to get a viewing for each, and the asking price for each, which was on the higher side to reflect their condition.

I got enquiries from two dealers for the 5, both with a ridiculous offer.

The MX-5 went to a chap who travelled over from NI with his Dad and I'm in Dorking so a fair distance.

If you're genuinely not in a rush, I'd hold out for what you want but not on Autotrader. Keep updating your forsale post on here and add it to carandclassic, maybe look at the auction route too, there's a Z on there now:

2003 BMW Z4 For Sale By Auction

Low-mileage, well-specified example of BMW’s desirable compact roadster Free-revving 3.0-litre inline-six paired with a slick manual g...

www.carandclassic.com

Oh and what is key, IMHO, is a high number of good quality photos. That will grab the attention of the non-enthusiast who may succumb to the "oooh shiny shiny" impulse even if they don't know too much about our cars.

But I'd agree the market is tough, too much uncertainty in the world. I don't think I'd pay what I did for mine last Sept, if it were on sale now.

 

[Zedebee]

Surely that's the same thing?
If there are no buyers at a given price but buyers at a lower price it is too expensive.

Not at all. It is too expensive for the market you’ve aimed at, but if you widen the market . . .

E.g. you may not be able to see a banana in Lidl for 50p, but you might have a chance of selling the same banana in Waitrose at the same price. Different customers.