Dealer Markup on cars they bought at auction

[ghfun]

I am assuming a dealer who purchases at an auction buys they as cheaply as anyone buys anything at an auction. Does anyone know what the standard dealer mark up is on a car they bought at auction? I am speaking specifically of a 2000 convertible with 20K miles. Thanks, Mark respond directly to ghfun@aol.com if you like.

 

[Alan76]

Most Dealers mark up is what they can con out of the customer
to quote the owner of a dealership where I used to work

"there is an ass for every seat"

 

[ghfun]

Auction Mark up reply

True - I am amazed what people pay for cars. I have a complete formula for purchasing new or traded cars, I was simply trying to find out how cheap dealers buy cars at auction's vs trade in's.

 

[Monka411]

You really shouldn't pay more than 30k for a 2000 coupe with low miles like that i dunno about the vert but verts do cost a little more prolly like 35k or so.

 

[kingman]

Hi
Depending on where in the usa the auction is held, time of year and colors. Oh, and what other dealers are there.
What dealers do is check at that particular auction, from the previous weeks to give them a guide.

But keep in mind that every dealer has their own standards for picking up a car at the auction.

The cheapest way for a dealer is to get a vette in a trade in period. Or picking up a vette at another non-chevy dealership. Most car dealerships do not want to touch vettes because they have to give some kind of warrantee, and vettes are problematic to say the least.

Alan

p.s. the smartest way to pick up a vette is from an original owner
that took care of it, without any accidents and modifications at all.

At an auction any vette with an aero package is like the kiss of death. It's worthless.