The "Second Hand" / "2nd Hand" MK6 Golf Thread

[Corey_R]

Darth, I think you forgot that purchasers always expect a discount. Even if they're buying a new car, which is on sale AND they have corporate discount, they expect further discount. This also exists when buying second hand.

So really, if the price you want as a seller is say $20k, you'd be an idiot to list at $20k, because no purchaser will pay that. You need to advertise for $22k so that you can negotiate down to $20k so the purchaser thinks they played the game well and got a good deal.

[Darth]

Darth, I think you forgot that purchasers always expect a discount. Even if they're buying a new car, which is on sale AND they have corporate discount, they expect further discount. This also exists when buying second hand.

Buyers' expectations were well known, I believed and were not in question. I was commenting on the ability of GTI / R owners to, as Silverfox suggested, to ask above "anticipated price". Buyer expectations is another reason why they can't.

So really, if the price you want as a seller is say $20k, you'd be an idiot to list at $20k, because no purchaser will pay that. You need to advertise for $22k so that you can negotiate down to $20k so the purchaser thinks they played the game well and got a good deal.

That's one way of selling a used car... but horses for courses ...

For a quick, fuss-free sale, there is something to be said for advertising at ones lowest acceptable price so long as you have the fortitude to stick to your guns. A "take it or leave it" approach on the basis of a realistic price gives the seller credibility and usually puts a degree of pressure on the buyer to make a quick decision, and achieves the desired outcome of a reasonable price in short order.

So, no, I would not regard a person whose time is so valuable that they seek a quick sale as an "idiot".

[SilvrFoxX]

Yeah, that comment about the market is obvious. But above this post you were developing the idea that GTI / R owners could ask more than "anticipated price" (which term is new to me and undefined).

However, as sellers are generally optimistic when they anticipate what they will get for their cars, I gather "anticipated price" must be greater than, or equal to market price. In that case I guess, based on your above post about the market prevailing, while GTI / R owners can ask for more than the anticipated price, they will be most unlikely to achieve it.

So if you're correct about many GTI / R owners seeking a higher asking price than market price, that would suggest that they must make deeper concessions during negotiations and receive fewer enquiries in the meantime as buyers are drawn to those GTI / R sellers with more realistic prices.

It is a moot point.. park the GTI/ R example.. any vehicle which has a following will have odd behaviors around what the price should do on the second hand market. There are cases where folk have placed an order to find they are on a 1 or 2 year waiting list and will sell their place for more than the asking price.

Now my referencing GTI / R is that these are sought after cars and the waiting list is long, this then defines the word you are stumped by "anticipated". As the usual rules of depreciation over time of both asset and money can be affected.

The Seller expects more because the market appears to perceive the value is there. All you have to do is read the other threads on the long and protracted waiting periods for cars which have been ordered at a good price compared to those picking them up off the lot at almost retail

[txjseries8]

When I was enquiring about used mk6's there weren't many sellers willing to drop their price much, only met one guy who was willing to do business. Add to that stamp duty costs of 2k and it worked out that less than 4k would get me a brand new car. I think the fact that not one of the mk6's had sold since the time I started looking, and had already been listed for some time before that, must give some indication of the markets willingness to purchase a secondhand mk6 at this time. Referring strictly to Perth market by the way.

[GTREA]

I just bought an MY10 Octavia vRS Wagon with leather for $34000, she had it on Carsales for $34250, it was a good price, I was'nt arguing with her, she sold it within a day or so of advertising.

Is she an idiot?

No, I would and do the same, take Perth for example, if I were to sell my MY11 5dr Golf GTi tomorrow (theoretically Corey) , with 5800kms, 18" Detroits, DSG & MDI this is what I am up against.

So I would price it at $40'000.

I know my products good, and at that price point it beats the competition.

If it did'nt sell within a week or two, there is no market.

Or you may argue the cars already there are overpriced, but in my experience and i've bought and sold maybe 5 in the last few years, if you have a good / better product, price it at the bottom end of Carsales it will sell

[SilvrFoxX]

Or you may argue the cars already there are overpriced, but in my experience and i've bought and sold maybe 5 in the last few years, if you have a good / better product, price it at the bottom end of Carsales it will sell

There is a smart operator

[Corey_R]

Yeah... I did that, and people called wanting to know what was wrong with it. Other's called wanting to negotiate over the phone. Some called say they're buying it for their wife/son/daughter and they only have x amount a few K under the asking price.

So being realistic doesn't always help...

[Darth]

Yeah... I did that, and people called wanting to know what was wrong with it. Other's called wanting to negotiate over the phone. Some called say they're buying it for their wife/son/daughter and they only have x amount a few K under the asking price.

So being realistic doesn't always help...

If people call wondering what is wrong with it you have probably gone a bit to far and beyond what you called "idiotic" pricing in your previous post. But presuming you can demonstrate that there is nothing wrong with the car, there is your sale, right? Or are people calling just to chew the fat and not buy this incredible bargain?

Even if you are only doing the "idiotic" thing, as you call it, and advertising at a sensible price that is also the lowest price you are prepared to accept and people try and haggle, it makes for a very short phone call or meeting. You just say "Thanks, but no thanks". They either agree to the asking price or move one. Either way, you don't waste a lot of time.

[AdamGTI]

Just paid 34.5k for 6sp with 36000km. I loved the charcoal colour.
Only options were the MDI.

I watched for months and I believe I got "market value". I think 33k would of been a better price but I was sick of waiting around. From my own observations, silvers definitely are much harder to sell and 2 doors are hard to sell as well. Mine was the cheapest GTI in Australia but probably not the best value for $$

There are some better value deals on carsales, but anything in the high 30's makes me think "might as get a brand new one"

[Molotov]

Thanks for sharing Adam. Sounds like you did alright. 36,500 is still low mileage. What year was it and what were they asking orginally?