The happenings at Pickles Auction House Melbourne today...

[exaltd]

Hi all,

Was just wondering about what people think about this little car that was offered today.

VRX built 03/08 Sportback in Red - repairable write off, full front end damage, engine still fine and running though. Airbags deployed. And some side parking damage as well. Full MMCS system and Rockford Fosgate audio, CVT auto with paddle shifts.

What do you think it's worth?

2k? 3k?

WRONG.

I bid 1K opening, and seconds later, a bid came from someone I think is a [panel beater (in uniform) for 6K! Crazy fool - didn't cjsig get his Olympic Edition stuff for 6.5K??? This seems like he got ripped.

This guy ended up going on to buy the Lancer for 8K straight. I reckon he was ripped silly. I would put a 3K limit on it's worth, but I guess I was seriously wrong.

So what do you guys think? Bargain or rip off? Discuss your thoughts

Cheers!

-EXALTD-

[SIR-VRX]

Panel beaters buy a lot of repairable write offs. Fix them up as cheaply as they can, then flog them off for the market value.

Dodgy, but as long as you always check the car's history before you buy you can avoid issues.

As for the price he paid, some time that will be a good price, other times it will be a rip off. lots of factors in it.

[LZY_EYE]

It is cheap for a panelbeater to fix cars when they have a personal relationship with wreckers etc. Plus they don't obviously pay what you and I do for labour, only the hourly rate they are paying their workers.

They will have them as a project for quiet times and sell it on to someone.... exactly why you run a REVS check on any 2nd hand cars....

[SIR-VRX]

Should've bought it, transplanted the engine. 2.4 powah!!

[LZY_EYE]

Not for $8k

[ofey]

Well wait a minute.

CJSig's is A$6000 for the following:
1. All Aspire Seats
2. All 4 Door Trims
3. 4 X VRX Wheels + Yoko A10 Tyres with 6000KM
4. Paddle Shifts
5. All Consoles (Front and center) from the O.Ed.
6. MMCS + RF Amp/Sub
7. Front Strut bar
The rest of the cost was for shipping.

Now the panel beater today got a complet VRX Sportback. If he's a panel beater, he'll have connections.

The MMCS and RF will already have a market value of about A$3000. The wheels and tyres should come in at about A$1200. That's already A$4K. He could also have the strut bar in tack which has a book value of A$130. He could then salvage things like the rear quarter panels, boot, tail lights all for at least A$1-2K. Also get in the door trims, side mirrors and plastic panels and trims around the car to pick up another A$1K easy. Let alone the fact that he could get the engine and transmission which you claim are still alright.

There's alot of value in that car. In fact I think if he's a professional, he got it cheap!!

[exaltd]

DAMN...... DAMN, DAMN, DAMN......

I guess I got fooled into thinking he paid too much....

[SIR-VRX]

ofey, they don't bother with parting it out.

They repair what they can get away with, then flog it off to make bulk profit. My mate is a panel beater and his old boss did just this.

Using the VRX as an example, this is the calculations:

Purchase of Repairable Write-off: ... $8000
Fees for purchase and towing etc .... $1000
Parts and labour to repair ............... $4000

Sell car for market value, say $25,000. Profit is an easy $12,000.

Figures just for example purposes, but close enough for this comparison.

Easy money, perfectly legal.

[squala]

Another thing to consider is crashworthiness and not just roadworthiness when buying second hand. It would also be critical to repair those that got their chassis bent already.

[Superintendent Chalmers]

Not to change the topic too much, but this one is up for grabs in NT. They call this heavy front panel damage. Might keep an eye on how much this will fetch. (its a 2.4litre 26000kms)



You can get some really good bargains. I always look for flood damaged cars. (Friends found some CH models with nothing wrong for just 4.5k

[exaltd]

That will definitely fetch a price premium if today is anything to go by

10K plus i reckon. And it'll end up back on our roads, selling cheaply probably at 25-26K

[Graham]

There is definately money to be made in this stuff if you know how.

In WA for example there was recently an R35 GTR auction (don't know what it sold for though) I think it was around 80k

Engine/front was completely fine, someone rear ended them, tyres looked straight and okay i'd estimate just replace the back half of the body and maybe the RWD part of things and you'd have a working GTR you could resell at 150k+

[Chubb]

ofey, they don't bother with parting it out.

They repair what they can get away with, then flog it off to make bulk profit. My mate is a panel beater and his old boss did just this.

Using the VRX as an example, this is the calculations:

Purchase of Repairable Write-off: ... $8000
Fees for purchase and towing etc .... $1000
Parts and labour to repair ............... $4000

Sell car for market value, say $25,000. Profit is an easy $12,000.

Figures just for example purposes, but close enough for this comparison.

Easy money, perfectly legal.

I am not doubting you at all SIR-VRX and I know you said this was an example but wouldn't be a couple of grand alone just to replace the air bags that were deployed?

[Speedie]

Not when you buy trade

[tjoz]

I know someone brought #1 off my old insurance company. I think it went for around 8-10k for it. I do know my car is on the write off register with Vic Roads.

A repairable write off is only good for spare parts. I wouldnt drive a restored one.. Especially #1 I still have the spare key to #1 too, they never asked for it so I never handed it in. Do you think they change the key responders on these?