DDK - Die Deutschen Klassiker

That's a crying shame!!!

DarthMJH wrote:

DarthMJH wrote:This 72 911E just sold for £63,500 on car and classic

https://www.carandclassic.co.uk/auction ... lhd-8j3yYg?

That was a quick flip, now selling for £89,995.00

https://www.ebay.co.uk/itm/324852595167?

No affiliation.

The colour code on the red one has been raised on the Early 911 Registry, and would appear to have originally been a brown colour of some description?


https://www.early911sregistry.org/forum ... 9112200525

https://www.early911sregistry.org/forum ... -from-1972

When you consider this fully restored 911E sold recently for £85k (+sale percentage and VAT) the red one is somewhat overpriced??


https://collectingcars.com/for-sale/197 ... HcRgFjUvwQ

DarthMJH wrote:

DarthMJH wrote:This 72 911E just sold for £63,500 on car and classic

https://www.carandclassic.co.uk/auction ... lhd-8j3yYg?

That was a quick flip, now selling for £89,995.00

https://www.ebay.co.uk/itm/324852595167?

No affiliation.

What is a flip by the way? Is it a pejorative term?
As in, that no-good greengrocer, he only bought those greens today and he's flipping them already

It's the speed at which a pair of Flip Flops goes from a flip to a flop

What do you call a Frenchman wearing sandals?

Phillipe Phillope of course.

Reminds me of the lyrics of a famous song......


Strangers in the night...

Exchanging flips flops....

A left one for a right....

it could be argued it was cheap on car & classic

DarthMJH wrote:

DarthMJH wrote:This 72 911E just sold for £63,500 on car and classic

https://www.carandclassic.co.uk/auction ... lhd-8j3yYg?

That was a quick flip, now selling for £89,995.00

https://www.ebay.co.uk/itm/324852595167?

No affiliation.

To be fair it’s only a 42% mark up….

That's the difference between "sell it now" price and "wait for a motivated buyer" price. They may have a long wait.

All seems fine to me. Trader buys a thing, takes a risk on selling it at a higher price.

gridgway wrote:All seems fine to me. Trader buys a thing, takes a risk on selling it at a higher price.

In economics they're extracting what's called the "consumer surplus" so they get the £25k of enjoyment for themselves instead of the ultimate buyer of the car.

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gridgway wrote: What is a flip by the way? Is it a pejorative term?
As in, that no-good greengrocer, he only bought those greens today and he's flipping them already

A flip is pejorative because it implies a quick buy and sell for profit, with the profit greatly in excess of the value added (e.g. £20k premium on the car for a better / more prominent showroom, a clean and polish, and a more promotional description etc.). A greengrocer doesn't "flip" because (s)he adds value by buying in bulk, probably from multiple suppliers outside of the convenient shopping area, consolidating the products into a cohesive range, bringing it to where the customer has good parking and access, and arranging within easy reach of a trolley with carrier bags. The value the grocer adds for each buyer is in excess of the £2 profit they take on a £5 bag of groceries.

Of course I am being a bit flippant(!), but I don't really agree that there's a certain value to add or a reasonable time between buy and sell required in commerce.
If a person involved in commerce, buying and selling then the fact that they buy at price a and can sell at price b, why does there have to be "value" added? What about scarcity of supply, what about buy/sell risk? What is wrong in a trader buying a car one day and selling it for more the next (day, hour, minute, second)? FX traders don't add value as far as I can see other than having something someone might want and taking a risk on that.

gridgway wrote:Of course I am being a bit flippant(!), but I don't really agree that there's a certain value to add or a reasonable time between buy and sell required in commerce.
If a person involved in commerce, buying and selling then the fact that they buy at price a and can sell at price b, why does there have to be "value" added? What about scarcity of supply, what about buy/sell risk? What is wrong in a trader buying a car one day and selling it for more the next (day, hour, minute, second)? FX traders don't add value as far as I can see other than having something someone might want and taking a risk on that.

People say the same about the pharma company that bought a cancer drug and raised the price 1,000%. Obviously it's a bit more of a raw nerve when people's lives are on the line rather than just their fun weekends in a classic car but it's the same principle - siezing an asset and holding it to ransom for its full value because either you're more hard-nosed, mroe greedy, or have a superior understanding of its true value. I'm not saying I judge them because capitalism is the system we all live within, and which brought about the making of the Porsche 911 in the first place so we all have to subscribe to it to some degree, but they do extract the consumer surplus for themselves. Without them, there would be a load of 911s in ownership of end-users who bought them for £20k less or sold them for £20k more. There would be more cars on the market at any given time, and more of them at a reasonable price. So I'm probably going to keep hating on them for depriving enthusiasts like us of bargains.

RobFrost wrote:with the profit greatly in excess of the value added (e.g. £20k premium on the car for a better / more prominent showroom, a clean and polish, and a more promotional description etc.)

Hmmm, if only trading in cars was as simple as a clean,polish and write a nice advert.

A reputable dealer (or one who is trying to build a reputation) will also have to warranty the car. To enable them to do this they will also have inspected the car, serviced it and fixed minor problems. They will have significant overheads on that showroom so you don’t have to view the car in the rain on someone’s driveway.
So that 20k premium isn’t the profit, and the proportion of it that is will have VAT included which they will have to hand to HMRC.

And of course any of us had the same chance to buy the car originally if we’d wanted to take the risk of a private sale.


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