Car/Motorcycle Auction - August 25, 2015

[ExpatOilWorker]

Anybody plans to go to the Union car and motorcycle auction on August 25th, 2015?

Looking through the below list there are some interesting vehicles for sale and although I don't plan to buy right now, I am curious to see what is going under the hammer.

Anybody wants to join? Kicking tyres is always more fun with another car buff.

http://www.union-auction.com/th/auction/auction_list.aspx?id=6697

[ExpatOilWorker]

Some nice wheels under the hammer tomorrow:

Bently

Benz CLS500

Benz C63 AMG

Aston Martin DB9

RR Phantom

Cars.PDF

[Lancashirelad]

I'd love to go to a car auction in Thailand, but I'm not there at present. Hopefully January - March.

[ExpatOilWorker]

I'd love to go to a car auction in Thailand, but I'm not there at present. Hopefully January - March.

I was surprised how high everything was bided up.

A 2002 Ferrari #101 went for 16.5 million baht.

1998 Lamborghini #102 for 10 million baht

And this was the day after the stock crash!

[FireMedic]

I really like the DB9

[ExpatOilWorker]

I really like the DB9

It was sold for 4.1 million baht

[mike324]

I'd love to go to a car auction in Thailand, but I'm not there at present. Hopefully January - March.

I was surprised how high everything was bided up.

A 2002 Ferrari #101 went for 16.5 million baht.

1998 Lamborghini #102 for 10 million baht

And this was the day after the stock crash!

Something definitely is not right with those bids. Second hand prices for those car makes are much lower than that, nobody would overbid especially not knowing the condition of the car as well.

M

If its a 1998 Lambo, I guess its a Diablo and its possible that it commands a 10million price tag. But definitely not the Ferrari. Most of the time bids are 20-30% lower than 2nd hand market prices.

Could you let us know if you can just show up and watch? or do you need to register to go into the area?

[ExpatOilWorker]

I'd love to go to a car auction in Thailand, but I'm not there at present. Hopefully January - March.

I was surprised how high everything was bided up.

A 2002 Ferrari #101 went for 16.5 million baht.

1998 Lamborghini #102 for 10 million baht

And this was the day after the stock crash!

Something definitely is not right with those bids. Second hand prices for those car makes are much lower than that, nobody would overbid especially not knowing the condition of the car as well.

M

If its a 1998 Lambo, I guess its a Diablo and its possible that it commands a 10million price tag. But definitely not the Ferrari. Most of the time bids are 20-30% lower than 2nd hand market prices.

Could you let us know if you can just show up and watch? or do you need to register to go into the area?

Guests and non-bidders are more than welcome to watch the action. Plenty of space for everybody.

The 2014 BMW 528i M Sport (#126) was sold for 3.1 million. The 2015 new price is 3.799 million, so it is basically inline with normal used car prices.

Edited August 27, 2015 by ExpatOilWorker

[tomtaylor1]

The Roller made 30 million baht, bought by Mr. Singha Breweries.

They all made such a fuss of him, photo shoots the lot.

Tom

[ExpatOilWorker]

The Roller made 30 million baht, bought by Mr. Singha Breweries.

They all made such a fuss of him, photo shoots the lot.

Tom

I believe it was sold for 25 million baht. Where did you get the 30 million baht number from?

Pictures were taken of the buyers of the most expensive cars.

[Crash999]

Is there a list of the selling prices somewhere? Would be interested to know how much the Porsches went for.

[ExpatOilWorker]

Is there a list of the selling prices somewhere? Would be interested to know how much the Porsches went for.

There might, but I don't have it. Car #65 was sold for 4.7 million baht

[Crash999]

Wow that doesn't seem too far off second hand market prices. Given the unknown history and condition on those cars it's surprising they go for so much!

[ExpatOilWorker]

Car #66 sold for 1.7 million baht

[ExpatOilWorker]

#95 = 2.7 million baht

#96 = 3.0 million baht

#97 = 2.8 million baht

#98 = 2.9 million baht

#99 = 5.0 million baht

Edited August 27, 2015 by ExpatOilWorker

[fish fingers]

I really like the DB9

It was sold for 4.1 million baht

Thats not too bad - for Thailand. What about the early Bentley GT's?

[ExpatOilWorker]

I really like the DB9

It was sold for 4.1 million baht

Thats not too bad - for Thailand. What about the early Bentley GT's?

#38 = 5.4 million baht

#39 = 5.4 million baht

#40 = 5.8 million baht

#41 = 5.6 million baht

#42 = 5.4 million baht

[fish fingers]

Interesting. So the guide price is around half the eventual selling price, and I'm guessing there is a large auction percentage to pay on top.

[ExpatOilWorker]

Interesting. So the guide price is around half the eventual selling price, and I'm guessing there is a large auction percentage to pay on top.

I believe you only pay what you bid. Union Auction will then take their commission and the Customs department gets the rest. Maybe VAT also get their share, I don't know.

[Lancashirelad]

Interesting. So the guide price is around half the eventual selling price, and I'm guessing there is a large auction percentage to pay on top.

Known as a buyer's premium. This is something greedy auction houses introduced some years ago now. In effect they are getting commission on each sale from both sides, the vendor and the buyer. I don't know if there was a buyer's commission at this sale, or indeed if Thailand has latched on to it yet.

From the seating arrangement pictured and the types of car being mentioned, this was obviously a specialist high end sale, not your regularly weekly car auction you would go to buy a 5 year old diesel pick up.