Would like some advice about selling a Caterham

[Saudio]

Hello all.  I've decided to sell my 2021 620S and considering whether I would be better off waiting until Spring to list it or to go ahead and put it up for sale now.  Any thoughts about which would be best strategically?  

 

Also, allowing test drives in this car is a little stressful for me. RHD and gobs of power in this cold weather is a recipe for disaster for someone who is a first time Caterham driver.  I realize I will need to allow test drives for serious prospects, but for those who have sold Caterhams, how have you handled this?  

 

And of course if anyone reading this is in the market, reach out to me.

 

 

 

Thanks

 

Mike

 

 

[Vovchandr]

My advice? 

 

Reach out to BaT (or Cars and Bids, but BaT more likely) and set yourself a reserve and get more nice pictures done.

 

This being a 620 will generate a LOT of interest in the community and on-lookers and most people bidding won't be expecting a test drive as they aren't local.

 

With the money you'll be asking for it (without knowing what the amount is but assuming it being higher than most transact) even though justified there's a 50/50 that it wont meet reserve. Mentality in a bidding war is that they compare against other models and with this being worth more than other models people mentally will be reluctant to bid high as it will feel like "overpaying".

 

Knowing all this, a small fee for the listing, the good pictures and putting it out there will help you market the car nationally and find a buyer even if it doesn't meet reserve. With there being so few customers nation wide that are in the market for such a thing, having most eyes on it will give you most luck.

 

Just like selling anything it's always a game of time vs money. If you have to sell quickly you'll be at the whim of having to accept a lower offer. If time is on your side then between having a listing here and/or auction sites or other websites the right buyer will be found. 

 

With all that said it's almost perfectly reasonable to not allow anybody to drive it. Let them be passengers. You don't HAVE to let people test drive and in this niche/exotic/performance market any buyer will understand that, so many cars gets sold without test drives. Video of start up and you driving it is enough. If they are local maybe a test fit to sit into it. 

 

On a side note, what a beauty of a car! Even if the color is not my personal top choice, it carries it well. LEGO CAT!

 

Edit: Also very surprised to see you having a single stripe with a nose surround on a 620. Typically they have either the two or the 3 stripe layout. It looks good!

 

Edit x2: BaT has a long backlog from my understanding. Even if you wanted to list there I think wait can be up to 6 months. Being a premium member here and creating a detailed listing here until BaT gets approved is likely the best course of action

Edited December 10, 2024 by Vovchandr

[JohnCh]

Note: the pictures were removed as that addition steered this thread too far into ad territory even if that was not the intent.  It's not fair to those who join as paid club members to sell their cars. Conversation around the sales strategy is fine, but please stay away from specifics about this car or the sales price.

[mrmustang]

1 hour ago, Vovchandr said:

 

With all that said it's almost perfectly reasonable to not allow anybody to drive it. Let them be passengers. You don't HAVE to let people test drive and in this niche/exotic/performance market any buyer will understand that, so many cars gets sold without test drives. Video of start up and you driving it is enough. If they are local maybe a test fit to sit into it.

This is excellent advice, in all the years I've bought and sold specialty cars as a hobbyist, I've never let anyone else drive my cars. If that was a deal breaker, so be it.  If they insisted on driving, then they brought me cash in a suitcase, and signed a liability waiver, maybe.. Most people got it, a few with their noses bent out of shape walked away.

 

The bottom line, it's your car, your choice.

 

Best of luck with the sale.

 

Bill S.

[Saudio]

3 hours ago, Vovchandr said:

My advice? 

 

Reach out to BaT (or Cars and Bids, but BaT more likely) and set yourself a reserve and get more nice pictures done.

 

This being a 620 will generate a LOT of interest in the community and on-lookers and most people bidding won't be expecting a test drive as they aren't local.

 

With the money you'll be asking for it (without knowing what the amount is but assuming it being higher than most transact) even though justified there's a 50/50 that it wont meet reserve. Mentality in a bidding war is that they compare against other models and with this being worth more than other models people mentally will be reluctant to bid high as it will feel like "overpaying".

 

With that said, the small fee for the listing, the good pictures and putting it out there will help you market the car nationally and find a buyer even if it doesn't meet reserve. With there being so few customers nation wide that are in the market for such a thing, having most eyes on it will give you most luck.

 

Just like selling anything it's always a game of time vs money. If you have to sell quickly you'll be at the whim of having to accept a lower offer. If time is on your side then between having a listing here and/or auction sites or other websites the right buyer will be found. 

 

With all that said it's almost perfectly reasonable to not allow anybody to drive it. Let them be passengers. You don't HAVE to let people test drive and in this niche/exotic/performance market any buyer will understand that, so many cars gets sold without test drives. Video of start up and you driving it is enough. If they are local maybe a test fit to sit into it. 

 

With all that said, what a beauty of a car! Even if the color is not my personal top choice, it carries it well. LEGO CAT!

 

Edit: Also very surprised to see you having a single stripe with a nose surround on a 620. Typically they have either the two or the 3 stripe layout. It looks good!

 

Edit x2: BaT has a long backlog from my understanding. Even if you wanted to list there I think wait can be up to 6 months. Being a premium member here and creating a detailed listing here until BaT gets approved is likely the best course of action

Thanks a bunch for such a detailed hand helpful post!  I've sold a car the BAT before and did well with it, but I agree it might be better to advertise here and a few other places and see if that works first.  I'm not in any particular hurry to sell, I realize this is a specialized version of a specialist car so it may take a while to find the right buyer.  And thanks also for the advice on test drives.  I try to put myself in the shoes of both the seller and the buyer, and when I purchased I was allowed to dive it first, but that was from a dealer and not an individual.  The stripe is as purchased.  I like the color myself, thanks!  I've just joined here as a paid member and the car is headed to the detailers tomorrow.  Cheers!  

 

[Vovchandr]

6 minutes ago, Saudio said:

Thanks a bunch for such a detailed hand helpful post!  I've sold a car the BAT before and did well with it, but I agree it might be better to advertise here and a few other places and see if that works first.  I'm not in any particular hurry to sell, I realize this is a specialized version of a specialist car so it may take a while to find the right buyer.  And thanks also for the advice on test drives.  I try to put myself in the shoes of both the seller and the buyer, and when I purchased I was allowed to dive it first, but that was from a dealer and not an individual.  The stripe is as purchased.  I like the color myself, thanks!  I've just joined here as a paid member and the car is headed to the detailers tomorrow.  Cheers!  

 

 

Perfect! 

 

I think you answered your own hesitations on test drives. Dealer is a whole different ballgame of insurance coverage and tolerance to liability than a private sale, not to mention expectations are also different. If you as a seller are open to allow people to test fit and you can take them out on test drives to demonstrate that mechanically everything works fine, the only people that you'll scare off are the ones that weren't serious about purchasing to begin with. Plus if anybody is truly not sure if that's too much power for them, nobody better to demonstrate it's true power for a second or two than an experienced owner as a driver.

 

I think you're doing the right thing by creating a listing here before BaT. It will get most eyes on it from a large portion of potential buyers who check Crocs updates on the regular. BaT will still help because internet is a very segmented place and there isn't always cross over between different sites even if the content is the same. There are people on BaT looking for a 7 that would never join or view a forum and vice versa. CarsAndBids can be an option and its free to list and you can always go from one site to the other. Like I said, internet is very segmented. There have been cars that failed to meet reserve on BaT but found the right buyer over reserve on a very similar auction site. 

 

 

Just remember, no such thing as too many pictures and when you're trying to sell at presumably a premium car its worth investing or taking the time to get a nice "photoshoot" going for it, even if its with a good phone. BaT listings prove that good pictures just sell better. 

[JohnCh]

Thanks @Saudio, I've restored the images in your initial post.  When you are ready to list it, please create an ad in the cars for sale forum.  

[Croc]

6 hours ago, Saudio said:

 

Also, allowing test drives in this car is a little stressful for me. RHD and gobs of power in this cold weather is a recipe for disaster for someone who is a first time Caterham driver.  I realize I will need to allow test drives for serious prospects, but for those who have sold Caterhams, how have you handled this?  

 

 

 

You are right to be cautious. Vlad's idea above is spot on.   I prefer to drive the buyer and show them what the car can do and explain its for their safety.  This has to be your approach in a car like this.   Only for buyers with money down and accepted have I let them drive my cars I sell.  Even then I control it by doing it in an area where things can be kept under control (autocrossing area, back of pits at NJMP, runway, etc) and there is major run off area if things get out of control. 

 

 

 

[panamericano]

I have always found that as a passenger, I tell pretty much everything about a car (and the driver's skill) from the other side.  Give a good ride and a buyer should be satisfied.

[IamScotticus]

Have a advert on Hemmings to get some of the $$$ looking at it.  It may not be Robbery Report territory,  but you want those high income offers if you can get them.

advertise in the UK and Canada also.

this is a complement to you.  My 7 goes on BAT.  Heck my 7 goes on Autotrader.  Your 7 deserves much better.

Edited December 10, 2024 by IamScotticus

[Saudio]

17 hours ago, IamScotticus said:

Have a advert on Hemmings to get some of the $$$ looking at it.  It may not be Robbery Report territory,  but you want those high income offers if you can get them.

advertise in the UK and Canada also.

this is a complement to you.  My 7 goes on BAT.  Heck my 7 goes on Autotrader.  Your 7 deserves much better.

Thank you!  I think Hemmings is a good route also.  I'm having it detailed now and photos taken.  

[Jesse D]

When I bought my Cat it was in November- a car listed here whose owner dropped the price and indicated he wanted it gone by winter. The Z3 I sold to buy it went on the market the following spring- I was trying to take advantage of the "Sell a convertible in the Spring, buy it in the Fall"  theory, and did. Your car is more particular so I think listing here makes sense and BaT in the spring if necessary.

Edited December 11, 2024 by Jesse D

[theDreamer]

Everyone wants videos. The “lookie lous” are wanting to hear the engine make noise and get a taste of the speed. Real buyers want to be able to read the gauges while the car is moving and listen for signs of trouble. Most videos have terrible wind noise and are useless for detecting problems. When doing videos do not forget to shoot several of the car passing the camera.

I had an MV F3 up for sale and a gentleman drove over 8 hours round trip to see it. He obviously was serious and had the money so I let him take it for a ride. He went down to end of our road then up past us to the stop sign at the top of our road and back. He hummed and hawed for over an hour. I offered to through in an MV riding jacket with built in armour. It fit him better than it did me. In the end he decided to pass. I sent him an email with a couple of photos of him on the bike and a short video of him riding past our driveway. The next day after seeing that video he emailed back that he’d take the bike without the jacket at the agreed upon price.

 

[jbcollier]

No brainers:

 

- sell a roadster/convertible in the spring, not fall.  This is for a sale to the general public and/or online auction sites.  Letting specialized forums know it is for sale is fine as those buyers are more knowledgeable. 

 

- no road tests.  If they crash it, watch your insurance company disown you in a hurry.  As others have said, take them for a drive.

[IamScotticus]

One of the best ways to sell a car is to show all the wonderful things one can do in it.

Like off-road drifting

 

 

[slowdude]

Quick comment on the seasonality of the convertible car market:

1. This only works on cash conscious buyers, the "stretch" purchase. 

2. Most of the time, people with big money will buy when they want / are ready; they don't care about timing.

3. Selling in fall only applies to anecdotal experience living in the snowbelt. Your So-Cal, TX, and FL markets are still strong in the fall; there is a lot of money in those area's as well, see my above two points.

 

I disagree with everyone's above statements about your car not moving. I've analyzed market seasonality for many years as profession, and the data is always counter to the anecdotal evidence. It applies if you are selling a generic $5,000 MGB; but once you get above $40,000, you're in a different league. Buyer's exist for these vehicles outside of the normal seasons. As long as you are priced right, you'll sell.

 

I think you're going to have the same chance of selling this car year-round, due to the above reasons, but also due to the fact that it is a niche model within a niche model.

 

Good luck my dude and I hope you have taken that beast on VIR.