"Patrick Nichols" (pnichols)
07/17/2017 at 11:20 • Filed to: None
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"Patrick Nichols" (pnichols)
07/17/2017 at 11:20 • Filed to: None | 0
| 16 |
Friend of mine works at one of the major auto trader competitors and sends me outrageous shit every so often. But this blew my mind:
!!! UNKNOWN CONTENT TYPE !!!
Screenshots in case it comes down...
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Patrick Nichols
> Patrick Nichols
07/17/2017 at 11:26 |
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LJ909
> Patrick Nichols
07/17/2017 at 11:27 |
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I mean, its brand new but what the hell? They think because it has 9 miles on it they can charge 100k? I hope it doesnt even meet reserve price.
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Patrick Nichols
> LJ909
07/17/2017 at 11:30 |
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There are 33 bids though, so I think that number is legit.
fintail
> Patrick Nichols
07/17/2017 at 11:32 |
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I’ll believe it when money changes hands.
BeaterGT
> Patrick Nichols
07/17/2017 at 11:32 |
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CP
TheTurbochargedSquirrel
> Patrick Nichols
07/17/2017 at 11:32 |
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It’s not uncommon for people to place fake bids on outrageous auctions just to make the number bigger.
Dusty Ventures
> LJ909
07/17/2017 at 11:50 |
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That’s not what they’re charging, it’s what people are bidding. Pretty sure it made reserve tens of thousands ago. The auction was at $75k when I saw it yesterday.
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Dusty Ventures
> Patrick Nichols
07/17/2017 at 11:52 |
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I’ve been following this for a couple days. They say a thing is worth whatever people are willing to pay. Apparently people are willing to pay a lot for a 9 mile MR
The Crazy Kanuck; RIP Oppositelock
> Patrick Nichols
07/17/2017 at 11:57 |
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The seller is probably laughing at the people that stupid wanting to pay that for a 11 year old Mitsubishi, but then they think what cars $100k can buy.
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LJ909
> Dusty Ventures
07/17/2017 at 12:32 |
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That’s still insane.
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Dusty Ventures
> LJ909
07/17/2017 at 12:45 |
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No doubt, but at least the insanity is on the part of the buyers, not the seller. Quick check of the bid history shows the auction started at a reasonable $15k. Buyer “e***e” put in an early bid up to $50k, then there was a bidding war between five bidders up to $60k, then a***a bid up to $97,900, probably thinking that high of a bid would guarantee him the car, but this morning 1***1 took charge with the now-leading $97,950. With eight days left this will almost certainly clear the $100k mark by a solid margin.
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LJ909
> Dusty Ventures
07/17/2017 at 13:07 |
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Who in their right mind would drop that kind of cash for an Evo? Like I said it has 9 miles but still. There is so much more to buy at that price its not even funny.
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Dusty Ventures
> LJ909
07/17/2017 at 13:11 |
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Collectors be crazy
f86sabre
> Patrick Nichols
07/17/2017 at 17:17 |
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Hmmm, my Evo has 175k miles. It must be worth something close to that.
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Patrick Nichols
> f86sabre
07/17/2017 at 18:08 |
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So if we take this as the base price (~$98k) for a ~0 mile car and take away the KBB value of an excellent condition 06 MR with 175k miles ($11.5k) and the purchase price (~34k), we get the additional cost of running your car over the last 11 years on top of your fuel and maintenance. Looks like you cost yourself an extra $52.5k from missing out on an investment with an average annual yield of 10.1%, hindsight being 20/20. That’s especially rough when you look at the rate of return for that same amount of money in the stock market during the recession. $22.5k isn’t bad for 11 years of depreciation over 175k miles, but this is why the world of finance almost always favors those that can afford additional assets over those that need or enjoy using those assets.
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f86sabre
> Patrick Nichols
07/17/2017 at 20:21 |
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To make it worse, it is 14 years for my car, but the story is the same.
I always wonder how cool it would have been to have bought a B-17 and maybe a couple of B-29s and stashed them away. Coil planes and big money.