"maristgrad" (maristgrad)
10/27/2013 at 02:26 • Filed to: Lincoln LS, Auction Cars, Copart
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"maristgrad" (maristgrad)
10/27/2013 at 02:26 • Filed to: Lincoln LS, Auction Cars, Copart | 3
| 12 |
This was a car that brought in my first big profit to add to my super car kitty. When bidding on auction cars you always dream of getting hold of a high value car for a steal. This Lincoln LS was the first of many for me.
Car Information - It was a low mileage Lincoln LS that came with a powerful 3.9L V8 engine, leather and wood grain interior, HID headlights and fog lamps,built in bluetooth, 6 disc CD changer and the list goes on It had 109982 miles. Yup 109k miles.
Purchase Price / Winning Bid $950
Repair cost: None
Time of Possession: 6 days
Selling Price: $2800
Notes: I scoped out this Lincoln a couple of days before the auction and noticed it wasn't getting any traction. It had a little bit of body damage to the front drivers side front corner, but nothing big enough to be worried about if I could secure the car for a reasonable price. I submitted a pre auction bid of $650 with a max bid of $1000. I knew once the car went to auction, people would get frustrated from instantly getting outbid. Without knowing my high bid, they'd quickly give up. My strategy worked, I got the car for $950. I picked up this car on a Friday afternoon after work. The car was brought out to me on a massive forklift which was a bit disconcerting however it started right up once I put the key in the ignition. I went through my checklist and noticed the front tire was a little low. Other than that everything checked out and I started the trek home.
Loving how clean and updated the car was, I drove it to work a few days in a row. The V8 engine was responsive and while the car was mechanically sound, it wasn't much fun to drive. It felt rather uninspired and super heavy. This could have been due to the alignment being a tad bit off. It wasn't as nimble as say a beast of a 1999 S500 and it simply didn't give me the confidence to smash the accelerator out of corners. Which isn't a bad thing, it just made me feel like an old retired person.
While selling this car, I generated so much buzz I was showing the car 30-45 minutes apart on the day it sold. I actually had two people show up with cash in hand to buy it. I was able to get asking price because of this and turned out a really awesome profit for my super car kitty.
Stay tuned for more adventures from the wonderful world of Copart insurance auction cars.
Bird
> maristgrad
10/27/2013 at 02:52 |
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Good deal!
Did you fix the damage or sell it like you got it? I can see the headlight pushed down a little, how bad was it?
Aero
> maristgrad
10/27/2013 at 02:55 |
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Felt "uninspired"? Huh... I've owned two of these and found the chassis to be one of the most solid and responsive of any early 2000s sports sedan. The one you picked up didn't have the Sport package, but even with the softer suspension they are surprisingly agile.
brakesnow
> maristgrad
10/27/2013 at 03:46 |
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If I ever live in an urban area, I hope to flip cars like you do as a secondary source of income. It looks like fun!
However, whenever you say super car kitty, this is what I think of.
Dunnik
> maristgrad
10/27/2013 at 05:18 |
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Nicely done, your posts make me think - and I'm sure I'm not alone - that this indeed would be a fun way to generate extra cash that one could, like Mike Brewer , buy and sell on used cars, the proceeds of which go towards buying a desirable car for one's self.
Public auctions though can be a bit intimidating even for an Oppo. I'd be afraid I'd end up with a lemon.
webmonkees
> maristgrad
10/27/2013 at 07:11 |
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Dang.
That was the final bid price on my pinball machine. I'm going to the wrong auctions. Then again, some of the machines sell for more than the Lincoln's final price.
Risk, reward.
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maristgrad
> Bird
10/27/2013 at 10:36 |
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I sold it as is. I usually do because it allows people to do what they want with the car for a reasonable price. For me to replace the bumper, fender and headlight assembly, Id have to tack on another 1000 to the price. PicknPull is a great place to get parts for these auction cars.
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maristgrad
> Dunnik
10/27/2013 at 10:39 |
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It becomes less intimidating once you buy your first car. My advice is to only buy cars with the "Run + Drive" guarantee, avoid cars with frame damage and always pay for an inspection of any car you think will cost over $1000.
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maristgrad
> brakesnow
10/27/2013 at 10:44 |
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Ha nice but not the super car Im working towards. I guess a Bentley GT isnt as much a super car as is it a luxury car. I'm closer than ever to getting one so Im super excited. I just need to find one with low mileage at a decent price like this 37k 2005 black beauty
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maristgrad
> Aero
10/27/2013 at 10:48 |
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The alignment was a little off but Im also used to driving German cars and the difference in handling was tangible. It seriously felt heavier to drive than a 1999 Merc S500
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brakesnow
> maristgrad
10/27/2013 at 13:20 |
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Wow. Gorgeous car, although I would prefer a phaeton! Save yourself oodles of cash and enjoy your posh passat as you laugh all the way to the bank.
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Aero
> maristgrad
10/27/2013 at 13:45 |
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I've driven plenty of German cars myself, and the only thing that was similar was an E39 528. Even the '07 E63 that's in our family doesn't feel nearly as light on its feet as my LS V8 Sport did.
f86sabre
> maristgrad
11/09/2013 at 10:01 |
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How do you go about arranging an inspection with a car on an auction lot? To they have vendors associated withy the auction house or will they let your own mechanic in?