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  • Cosworth st suction

    Anybody know anything about this car
    https://www.tradeclassics.com/auctio...-cosworth-lux/
    apparently sold for 27500 at auction last night, which on the surface of it seems is ridiculously low. Even the starting bid is low

  • #2
    Bet he was gutted

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    • #3
      Can’t have been bothered I’d have thought it he would have put a reserve on it.
      Mom not sure how auctions work m, what would be the buyers and sellers fees on that?

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      • #4
        Doesn't say it's sold...This car is now on a negotiate sale to interested parties

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        • #5
          Iv just looked again and your right mark. I’m sure that said sold this morning when I checked it. Someone sent me it and I looked and I’m sure he both of us said it was sold.
          How does the negotiate sale thing work then, isn’t that what the auction is???

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          • #6
            Screenshot
            Attached Files

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            • #7
              https://www.ebay.co.uk/itm/1996-Ford...o/253673665210

              Its still on ebay for £45k

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              • #8
                i\m sure that negotiated bit mean they haggle it out behind closed doors.

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                • #9
                  So you’ve bid for a car at an auction to get into another auction. Surely if the car has monreserve then it’s legally required to be sold for what the final bid is???

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                  • #10
                    Where does it say no reserve? i don't think anyone would be brave enough to sell without one

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                    • #11
                      I meant in general if an auction had no reserve then it needs to go for what the bid is at when the hammer falls??
                      if that car had a reserve on it that wasn’t met then wouldn’t the auction have said “reserve not met” ??
                      also the listing says you’re entering into a legal contract by bidding so again surely what the hammer falls at 27525 then that’s is the price?
                      it doesn’t mean you enter into further negotiations

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                      • #12
                        If no reserve is set then yes it sells for what it sells for but if there was a reserve and it didn't make it that's when further negotiations would take place to see if the highest bidder would meet the reserve

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