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Originally Posted by Mulva
Out of curiosity I usually watch a handful of cars in Grays auctions each week, and I notice that for certain models there is a noticeable difference in what they sell for in NSW and Vic versus what they sell for in SA (SA being quite higher, not WA higher, but still higher).
Keep toying with the idea of taking an arbitrage punt one day if I can get one at a decent price, fly over for a weekend and watch some interstate footy, then driving it back (to save on transport costs)...see if I can do better than break even with it back in SA.
Not as a serious money making venture; just something to occupy me for a while, and if I come out of it with any beer money at the end then all good, but if all I end up with is catching an AFL game interstate and a road-trip then that's good enough.
I've noticed recently that a lot of cars that sell are being re-listed one to two weeks later. These are cars that 'properly' sold (sold above reserve), not cars that were 'referred'.
What would be likely reasons for that? I didn't think the buyer could pull out of the deal after the auction if they rock up and find the car is not as described? Wonder if at times the 'buyer' is actually the current owner trying to drive the price up, and they go too far trying to find the other party's highest price and end up winning their own auction?
Just curious if any knows common reasons why someone might bail, as when I see a car come up a second time it makes me worry the person that won it the first time ended up rejecting it due to issues rather than finance. We're talking cars in the $3k-$10k bracket, not spending hundreds on vehicle inspection, just taking the punt and buying off photos and description.
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Hmmm, wonder if my questions in bold above are explained by this:
https://www.grays.com/content.aspx?block=ACCC-Statement
Quote:
GRAYS FOUND TO HAVE MADE FALSE OR MISLEADING MOTOR VEHICLE DESCRIPTIONS
Grays misled some consumers about the quality, features, characteristics, and/or legal title of vehicles in listing vehicles for sale on its online auction platform.
If you purchased a vehicle or made a complaint to Grays about a vehicle you purchased from www.grays.com, and the vehicle was incorrectly described, you may be entitled to compensation.
Grays is reviewing its records to assess customer complaints received from 1 July 2020 to 30 June 2022 to consider eligibility for redress. Grays will shortly be contacting customers who may be entitled to redress for our conduct. If you have not already received some form of redress and do not receive contact from us within 14 days, you may contact Grays on 1800 958 463 / customerservice@grays.com.au to see if you are entitled to some form of redress.
If you have not previously made a complaint to Grays, but purchased a vehicle from Grays and have evidence to demonstrate that the vehicle was incorrectly described, you may contact Grays on 1800 958 463 / customerservice@grays.com.au to see if you are entitled to redress.
If you disagree with Grays’ assessment as to your entitlement to redress, please contact Grays to arrange a review by an independent third party at no cost to you.
Following court action by the Australian Competition and Consumer Commission (ACCC), the Federal Court of Australia has ordered by consent that as a result of Grays incorrectly describing vehicles in the course of advertising and selling vehicles on its online auction platform, Grays engaged in misleading or deceptive conduct, and/or made false or misleading representations and/or engaged in conduct liable to mislead the public, and therefore contravened sections 18, 29(1)(a), 29(1)(g), 29(1)(m) and/or 33 of the Australian Consumer Law (ACL).
Grays acknowledged and admitted this conduct and expresses its sincere apologies to any customers affected by its conduct.
To minimise the risk of this happening again, Grays has undertaken to assume a number of obligations under a court enforceable undertaking accepted by the ACCC, which can be viewed at www.accc.gov.au. As part of this Undertaking, Grays has agreed to:
a) refrain from engaging in similar false or misleading conduct in the future;
b) remediate affected customers; and
c) issue this corrective notice.
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I've noticed in last couple of months a couple of cars have "sold" but then been relisted (one has sold twice and been relisted twice), and when they have been relisted they have included much more photos showing issues such as rust etc that were not included in the original listing; while another of their sites is no longer giving much description and just says "Please refer to photos or arrange an inspection to view the condition of this vehicle".
I might be wrong but I am certain that the first time this Caprice was listed it only had the first 33 photos showing the car from lots of angles, then shots of the service history, then the pic of owner's manual and keys...I am sure pics 34-43 showing the rust etc were not in the original listing, but if wayback machine shows otherwise I will happily retract.
https://www.grays.com/lot/0001-10053...utomatic-sedan
Anyone that watches the Grays stuff though will know that sequence of photos is out of whack to their norm...that pic 33 showing owner's manual and keys is usually the last pic in their listing, or last photo before a video walk-around if there is a video - photos 34+ look to have been added in the later listing.
13-07-2024, 01:28 PM
Re: Good value second hand cars - COVID times, Falcon/Commodore tax
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