nsx's sold at auction?

[0ctan3]

while running carfax reports on a few cars I've been interested in, I've noticed that many of them have been "sold at auto auction" once, or even a few times.
Is this a red flag? should I stay away, or is it not a big deal at all?



-andrew.

 

[Dennis in SE PA]

I saw the same thing for many. I looked specifically for cars that did not show as having been at an auction.

 

[RichH]

Many cars that are turned in after the lease turn up at the Acura auctions.

My friend use to be the used car sales manager at Sunnyside Acura and purchased numerous choice NSX's and other former lease cars at auction.

 

[rs250]

Also, depends on how "hot" the car is. A dealer can take a car to the auction and make a quick profit without having to deal with a retail customer. Some dealers will take cars in on trade that will not sell on their lots and wholesale them. I bought a 98 CLK 320 for full retail at a local dealer in PA, drove down to Tampa, FL and sold it to wholesaler for $5K profit. The CLK was new and not many out at the time. There are people with a LOT of money that will pay way above retail just to have it.

 

[docjohn]

To me auto auctions are places where dealers(not new car factory dealers) go to buy cars cheap fix em up and sell them to you for a profit,not the other way around.That local used car lot or "exotic" car dealer may very well shop at the national auctions like manheim.imho,many of these cars are salvage title as well making them fixerupers.So buyer beware.

 

[RichH]

Hi John,

I disagree. Jim Smith formally of Sunnyside Acura presently At Nashua Porsche Audi is a stickler for detail in the cars he buys for the dealership. I have inspected and driven numerous cars he purchased at auction including a 98 NSX.

He and other Used Sales Managers or Buyers are constantly at the "Dealer Only" auctions buying select turned in lease cars. They also sell cars taken in on trade. As is the case in a MB G500 on a Cayanne no problems and sold it at auction just to unload it.

The auction is a huge part of the dealer business. All manuf. including Honda have dealer only auctions for all the returned leased cars.

I am sure there are some beat cars at these auctions also. A good honest Dealer, Used Sales Manager will not put them on his lot.

I know there are salvage auctions also, but to paint all auctions in the same light is a big mistake. My point is don't short change a car because in through the Honda auction in FL.

The dealer representative I know knows his cars and can pick up body damage repair and excessive wear with the best of them.
But just as there is good and bad in everything, I am sure not everyone has the same level of skill in purchasing at auction.

So Buyer beware should be standard procedure no matter where you buy.

 

[docjohn]

Hey Rich,fair enough I'm glad to hear a more positive spin on auctions.I still think you need a good eye to choose wisely,as I'm sure the crap and the good are intermixed.

 

[RichH]

Hi John,

There are more than enough POS at the auctions too, no doubt!

He has told me a about 933 's and numerous other highline cars he has seen at the Porsche and other Auctions. Almost every panel had been painted with bad color match to boot and all sorts of other problems.

As you said you really do have to show great care in buying.

Have a great weekend! I just finished my yard work for the day!!


Enjoy your weekend,

Rich

 

[nsxtasy]

Auctions serve another, legitimate purpose. Some dealers want to take cars as trade-ins to help sell a new (or used) car, but the car they take in trade is not necessarily an easy sell. A Chevrolet dealer may take a used NSX as a trade-in, but the NSX may be difficult to sell because it is not a good fit with their customers. Similarly, a used Chevy Cavalier may be taken as a trade at a Mercedes dealer, but may be difficult to sell for the same reason. The auctions give the dealers a place to sell - and buy - used cars that they can turn around and sell easily because they are more are in keeping with their own clientele than that of the dealer selling at the auction.

 

[Ponyboy]

So can any used car dealer participate in the "Honda auctions" or do you have to be a Honda dealer?

 

[rs250]

Typically, you have to be a dealer for the brand. I used to work at Infiniti dealer and we would buy auction cars online-direct from Infiniti. These could be executive demos, some freight damage, etc-the condition was always spelled out.

You guys should see the high line auctions at various parts of the country-Saleen, Ferrari, Lambo etc. Some cars are crappy-but the people buying these know what they are doing. Professionals just like most of you in your respective arena.

 

[vintagecarman]

One trip over the block is ok.

I completely agree with NSXTASY.

Dealers will take in trades that dissimilar dealers are better structured to sell. One trip through the auction block is acceptable. More than once and there is a problem guaranteed! Unless an NSX is coming off lease I would be very careful with an auctioned NSX, especially one that has gone over the block more than once.

When a used car manager is putting a dollar figure on a trade that he is not familiar with, in “most cases” he will always drive the car and call another dealer who is better suited to sell that type of auto for a “Buy Bid”. They will use that figure or less as the trade value. If they make the deal the trade is sold to the dealer that gave the buy bid. I've never known a a car not be sold from the lot that gave the buy bid.

I have dealer friends that have acquired both off lease and older NSX’s from auctions. The last NSX I know of that was purchased at an auction was a 95 Black and tan. It appeared to be in superior condition however, after it was delivered, they found fifth gear was gone. Opp's! I have never heard of any serious issues with an NSX that was just turned in off a lease.

Buyer be ware! I believe when buying a High Performance sports car like the NSX. One would be better off to buy an NSX with a complete history and have a full mechanical inspection completed. Otherwise, you are leaving to much to chance.

 

[RichH]

You are not seeing 100k mile NSX's at the auctions I am talking about. Not many 91/92/ 93/94/ 95/96/97: mostly recent lease cars. Most would have 7,500 - 15,000 miles with dealer service records!


You are correct in general auctions, but chances are you will not be attending the same dealer auctions I am referring to. In fact, the the public and independents are not welcome.

The person I am referring to has sold many more than 18 NSX's. No knock intended, but there may be a greater authority.

I agree you have to check every car private party, dealer, auction... No doubt!!!!


Please enjoy the weekend.