I sold my car last week. It was 2007 model BMW 325 Msport D in a fetching Le Mans blue with about 118,500 miles on the clock. I had it tagged as worth about £6500. The whole process reminded me why I am in Tech and not in sales. I liked taking the photos preparing a flyer and uploading the adverts to Autortrader.co.uk and PistonHeads. What I didn't like was the chancer who pitched up to see the car within an hour of the listing. Yes, he had cash but I sensed that this was how he did business.
Here is the txt conversation that happened after an hour of showing him the car, doing a demo test drive etc.
George was not the real name of the other buyer but he seemed a more regular guy. Pitched up in a super flash Range rover and left a deposit before paying cash the next day. We did the deal at £5800.
I have my suspicions but looking back I am not sure if I was fleeced by a tag team or a business model. The tactic of the early buyer with a low ball offer is not new, and to be resisted. What if these two were a team ? The first one spends an hour bashing/normalizing a low price, the other comes in and offers just a couple of 100 above that price. Seller jumps at it thinking 1) that's a better offer, and 2) both buyers are pitching same level, maybe I over valued it, 3) I don't want it hanging around, lets get this deal done. Guess I won't know, unless I happen to chance on the new owner some day.
Things I did do was
- Check each of the cash £50 notes for feel and watermark,
- Fill in a used car sales receipt to say sold as seen
- Send the new owner details to vehicle licensing
- Over the years make sure the test certificates had the accumulating millage
- Not worry that neither asked me if car had any prang/or had body repairs
- Valet the car inside and out before showing to any sellers
- Not admit a possible lower price before they had been to see the car
What both buyers were interested in
- Service book stamped by BMW dealer
- Testing the clutch - Just a flim flam I suspect
- Next MOT test and tax date
- Anything that could be used to lever the price down
What neither buyer was interested in
- Full tank of diesel £80
- iPod interface/Phone bluethooth/Nav Gadgets
- Sun Roof ( did not have one )
- Windscreen chips/ Small Roof dents
That's all - glad I won't have to go though that process again for a while.
