[Turbanator]

Some BMW cars that will come on auction this weekend. Can be bid online too but I believe one will like to check physically once

https://www.bmwusedcars.in/auction/r...AuctionMar2021

[Turbanator]

Some of the members have been asking me in private about more details, this is how it's going to happen this time.

BMW India will publish more details including pictures about individual cars on 20th Morning online and the cars can be seen at Gurgaon, BMW training centre.

Bidding has to be online and each bid will cost Rs 5000. This has to be done during auction days online. Unlike a professional CarTrade account, where we can see if we are winning or not, Bids will be opened only after completion of the Auction and the highest bidder will win. So, one gets only once chance per bid.

Interested members should do the homework before bidding and given the participation by many dealers/ end customers, don't expect very low prices.

If anyone has more questions, please ask here instead of DM as it will help everyone

[vyasachetan]

Hi,
I wanted to check if these are registered cars?
I see mumbai/NCR and Chennai here so no point in a Bangalore guy bidding in that case right?

Originally Posted by Turbanator

Some of the members have been asking me in private about more details, this is how it's going to happen this time.

BMW India will publish more details including pictures about individual cars on 20th Morning online and the cars can be seen at Gurgaon, BMW training centre.

Bidding has to be online and each bid will cost Rs 5000. This has to be done during auction days online. Unlike a professional CarTrade account, where we can see if we are winning or not, Bids will be opened only after completion of the Auction and the highest bidder will win. So, one gets only once chance per bid.

Interested members should do the homework before bidding and given the participation by many dealers/ end customers, don't expect very low prices.

If anyone has more questions, please ask here instead of DM as it will help everyone

[Sahil]

Originally Posted by Turbanator

.

Bidding has to be online and each bid will cost Rs 5000. This has to be done during auction days online. Unlike a professional CarTrade account, where we can see if we are winning or not, Bids will be opened only after completion of the Auction and the highest bidder will win. So, one gets only once chance per bid.

Surprised they have resorted to this. The cartrade auction is much better to get the right price. But I guess from their point of view, they can potentially get direct to consumer rather than dealers who are majority of cartrade bidders.
The additional 5000rs per bid is quite high and could result in another revenue generation for BMW.

I was wondering why no new BMW auctions have been happening on cartrade. This is probably why.

Good initiative but I think a fair bidding process like cartrade is what they should work on next.

[Abhi_Automobile]

Originally Posted by Turbanator

Some of the members have been asking me in private about more details, this is how it's going to happen this time.

BMW India will publish more details including pictures about individual cars on 20th Morning online and the cars can be seen at Gurgaon, BMW training centre.

Bidding has to be online and each bid will cost Rs 5000. This has to be done during auction days online. Unlike a professional CarTrade account, where we can see if we are winning or not, Bids will be opened only after completion of the Auction and the highest bidder will win. So, one gets only once chance per bid.

Interested members should do the homework before bidding and given the participation by many dealers/ end customers, don't expect very low prices.

If anyone has more questions, please ask here instead of DM as it will help everyone

I wish we limit this practice of “please DM me for details” so forum can be benefitted more!!

QQs:

• Can I bid for non local region cars, even though I might not have seen them, with my own risk of course? This increases sample space compared to budding locally

• Are the prices published (and therefore nodded against) ex showroom or OTR prices?

Regards,
Abhi

Originally Posted by Sahil

Surprised they have resorted to this. The cartrade auction is much better to get the right price. But I guess from their point of view, they can potentially get direct to consumer rather than dealers who are majority of cartrade bidders.
The additional 5000rs per bid is quite high and could result in another revenue generation for BMW.

I was wondering why no new BMW auctions have been happening on cartrade. This is probably why.

Good initiative but I think a fair bidding process like cartrade is what they should work on next.

So much better, no? In CarTrade kinda of bidding, only big dealers (BBT and the likes), and uber rich/connected know about this - and mop up good deals...then often sell it to unsuspecting end users later at fat profits?

Edit: I think you may have meant using CarTrade account but still opening to everybody v/s selected few? In hindsight, we are saying the same thing��

Mods: please merge responses. Got posted inadvertently

[Turbanator]

Originally Posted by vyasachetan

I wanted to check if these are registered cars?

Not sure yet. In case these are registered, these will be either TN or HR26 mostly. We will know when Auction starts.

Originally Posted by Sahil

they can potentially get direct to consumer rather than dealers who are majority of cartrade bidders

yes, I think, that can be the reason.

The additional 5000rs per bid is quite high and could result in another revenue generation for BMW.

500 Bids = 25 Lac

Originally Posted by Abhi_Automobile

I wish we limit this practice of “please DM me for details” so forum can be benefitted more

I don't think anybody has mentioned to DM? On the contrary, I prefer to answer here on the forum, don't understand you.

Can I bid for non local region cars, even though I might not have seen them, with my own risk of course? This increases sample space compared to budding locally

Better wait for the details and then take a call.

Are the prices published (and therefore nodded against) ex showroom or OTR prices?

For Registered cars, these will be your Net On Road costs, usually they charge some service charges in addition to the bid, more like 20K. These registered cars will also have remainder of Insurance.

For Un-registered cars, you will need to pay everything, Insurance and Road Tax. Hope it helps.

[Sahil]

Originally Posted by Turbanator

500 Bids = 25 Lac

For Registered cars, these will be your Net On Road costs, usually they charge some service charges in addition to the bid, more like 20K. These registered cars will also have remainder of Insurance.

For Un-registered cars, you will need to pay everything, Insurance and Road Tax. Hope it helps.

I doubt they will get 500 bids. But if they do, its quite a large amount.
_______
Also, would like to add their payments terms are usually within 48 hours of approval. If payment is not made they will probably ban your account so you can't bid again. This is how it works in cartrade, infact they even take a deposit of 50k non refundable there. Here it is just 5k which is much easier to digest but one should not bid unless they are serious and have the funds ready.

[Turbanator]

Originally Posted by Sahil

Also, would like to add their payments terms are usually within 48 hours of approval. If payment is not made they will probably ban your account so you can't bid again

Not with BMW/ Manufacture auctions. Yes, they normally ask 25% deposit in 2 working days but are flexible if you have any specific questions. They even allow you to inspect the car and go through service history before you pay in advance. Balance can be paid usually in 5-7 days if you have access to full payment else they are ok to wait and you complete finance.

Your experience is with a different type of auction, finance companies are strict and behave differently whereas manufacturer auction is easy.

Here it is just 5k which is much easier to digest but one should not bid unless they are serious and have the funds ready.

5 K and just one bid seem to be on a higher side. In the auction, you can see your Rank and even increase bid depending on the competition but we get just one chance per bid. Hope they give some goodies like past for 5K. Regarding funds, I think they will be ok in accepting 10-20% down and the rest via finance. It’s not that we have to pay immediately 100% from our own funds.

[pk1972]

Does anyone know how much (roughly) these cars go for? Would it be in the range of 20-30% less than showroom cars or would they go for much lower?

[Turbanator]

Originally Posted by pk1972

Does anyone know how much (roughly) these cars go for? Would it be in the range of 20-30% less than showroom cars or would they go for much lower?

Plus a DM

What do you think will be a competitive bid for me to have some chance to being a top contender say in terms of %age of ex showroom?

Will try to answer based on my purchase experience.

Cars that are regular like 3, X, 5 series go at high prices. How much lower than Ex-Showroom will depend on the mileage/ Year of manufacture. For a first-time user, I will suggest getting in touch with a local BMW dealer and try to get a fair idea of the price of the car one is interested. If there is none, check similar examples online.

Then there are some exclusive cars that dealers/ brokers or most people will not be interested. As an example, I got a 740Li- CBU which has a rear steering, Heads-up display as well little different leather. Not everybody will give any premium to such features, but for somebody who is going to use for himself, we can factor these in the bid.

For a little used M Cars/ CBU, prices are usually 20-30% less than List price after options. But for higher mileage cars/ media, these can be 30-50% off the list prices.

From what I understand, we can expect something in return for the 5K this time too Last time, it was BMW branded bag which more than covered the bid amount

[Abhi_Automobile]

Originally Posted by Turbanator

I don't think anybody has mentioned to DM? On the contrary, I prefer to answer here on the forum, don't understand you.

Oh, no! I meant that bhpians should not prefer PMing which is irrelevant for an open forum, and I do appreciate you answer most of the Q transparently for the whole forum. So I think we are saying the same thing

Thanks again for all your posts on this topic. Much appreciated!

[Gotham_City]

Originally Posted by pk1972

Does anyone know how much (roughly) these cars go for? Would it be in the range of 20-30% less than showroom cars or would they go for much lower?

It may vary from car to car. My guess will be 25% haircut on prices for popular cars like X1, 3 series.

[Turbanator]

Some useful details

https://www.bmwusedcars.in/auctions_...-Questions.pdf

Inputs- fellow member - goingout

[kung_foo_fanta]

Is it just me or are we not able to see any images of the cars or VIN or documents, other than the one thumbnail picture that they have put up?

There seems to be just the "Bid Now" button... are further details shown when we click on "Bid Now" and add funds?

[Sahil]

Originally Posted by kung_foo_fanta

Is it just me or are we not able to see any images of the cars or VIN or documents, other than the one thumbnail picture that they have put up?

There seems to be just the "Bid Now" button... are further details shown when we click on "Bid Now" and add funds?

Same issue.

How is one supposed to bid without proper images and most of all if the car is registered or unregistered.