Aha! I looked for previous Fiero sales and see that it sold in January at Mecums in Kissimmee for $11,500. I guess someone is trying to flip it. It will be interesting to see how the bids go on Friday.
It was also in an earlier mecum auction at Indy at did not make reserve, I think top bid was $8k. Its never a good sign when a car sells and then shows up at the next auction, often buyers remorse.
I never understood the concept of flipping cars...I mean how do you think that you can be the high bidder for a car and then sell it for more a short time later? I guess the assumption is that people are stupid. That usually world's but I would want to depend on that.
You also have to consider that whoever [aid $11,500 in Kissimmee also paid the buyer premium which I think is 10% of the sales price. It wouldn't work for me because I have a tendency to buy high and sell low.
I don't think the salvage title disclosure was in the description at the earlier auction where it sold. I wonder if the buyer balked at that and it did not really sell. No way someone would be expecting flip this for a profit, more like cut their losses.
[This message has been edited by mrfred8 (edited 04-10-2014).]
It wouldn't work for me because I have a tendency to buy high and sell low.
Me too. I dont care what it costs if Im determined to have it. Selling, I usually just want to unload it for whatever reason to the fastest wallet. Holding on to it for a year didnt even help me get more. Its rare for anyone to make money on a used car. For one thing, you never get your time and labor covered. Watch Barrett Jackson this weekend...most cars will sell for less than the seller spent on it. Mecum does seem to have more realistic selling prices in general.
