Hey does anyone know how Turners play their reserve levels for auction sales - if a vehicle is listed with a $3-5K reserve will the actual reserve lie in that range or is this just a ploy to discourage low bid/encourage higher bids? Thanks.
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Hey does anyone know how Turners play their reserve levels for auction sales - if a vehicle is listed with a $3-5K reserve will the actual reserve lie in that range or is this just a ploy to discourage low bid/encourage higher bids? Thanks.
This one is listed as "on behalf of owner - in trade"
Have sold a number of our company vehicles by auction through Turners. So we get to specify the reserve.
A lot of dealers will flick off mechanically dodgy vehicles through there too. Ones that have issues they cant resolve and parts are hard to come by. Factor in any 'buyers premium too', where you pay on top of what you bid.
well I missed out on it - some one with deeper pockets. They listed the reserve as $3-5k but the actual reserve was $2850.
I think they try get bids above reserve when selling on behalf. A few years ago, I won a Nissan Mistral at a price that was below reserve. They phoned the seller after the auction to see if they would part with the vehicle at a lower price. I made it clear I wasn't going t pay a cent more than the price I had offered, and the seller accepted. It may be different now, though.