Luxury cars at throwaway prices! 7 Jun 2009, 2051 hrs IST, John Sarkar, ET Bureau NEW DELHI: These love affairs don't last long. They usually fizzle out after 10,000 km or so. Heartbeats drop, the once gorgeous curves lose their charm and familiarity sets in with the predictable climax of a celebrity fling. So, if you ever thought of spending the rest of your life with your dream car, think again. Whether it's Italian, German, Brit or Japanese - an exotic pedigree doesn't guarantee fidelity. Ask luxury car owners. With a rising number of jilted lovers putting their prized wheels on the block, the Indian pre-owned luxury car market has become the equivalent of a connoisseur's flea bazaar, with Rolls Royces, Bentleys, Ferraris, Porsches and BMWs jostling for attention at throwaway prices. "It's not difficult to find almost a brand new luxury cars at half its original price," says Shyam Mohan Sharma, the owner of Vintage Cars and a well-connected agent for pre-owned luxury cars in the Capital. "Top industrialists such as the Singhanias, the Modis and the Mittals know me very well," he claims and further goes on to add that these blue-ribbon families replace their cars at will. At present, this broker who has more than 16 years of experience in this business, has a 2006 Bentley Flying Spur that has done only 10,000 km for Rs 1.2 cr, a 2009 BMW 730LD which has 3000 km on its odo for Rs 60 lakh, a 2006 Porsche Carrera which has done 15,000 km for Rs 65 lakh and a one year old Ferrari 430 for Rs 2 cr. "Ours is a business which thrives on contacts," says Sharma. "Most of these cars belong to people who want to upgrade to a new car. They ask me to look for buyers and I charge a commission for it." Till date, Sharma's prized deal was a 2008 Rs 4.1 cr Royce that had done 4000 km. In the end, he managed to sell it for Rs 3 crore. Brokers such as Sharma usually earn a commission of about 2% per deal - 1% from the buyer and 1% from the seller. It also depends on the relationship that the broker shares with his clients. "The commission can range between 0.5% and 2%," pointed out another Delhi-based pre-owned luxury car agent who did not wish to be identified. So, for a deal of 50 lakh, agents can pocket a neat Rs 1 lakh. On an average, these middlemen sell about 10 cars per month. According to these agents, at present, Mercs seem to be the flavour of the season. "Pre-owned car buyers look for a good discount," explained another Delhi-based broker on the condition of anonymity. "In December last year, Mercedes-Benz was offering a discount of around Rs 12 lakh on the E-Class. Around 1200 cars were sold in this region alone. So, when these cars come into the pre-owned market they do so at a much lower offer price." But other than good discounts on Mercs, this broker also has a number of other tempting offers that are worth mentioning. A 2008 jade green Porsche Cayenne V6 is going for Rs 60 lakh, a 2008 BMW X5 diesel is being offered for Rs 48 lakh and a black Porsche Boxster S, which has only done 9000 km, is being sold for Rs 40 lakh. And if this wasn't enough there is still some more good news for wannabe lovers. These lovely cars also come with a finance option! |
Originally Posted by Latheesh
(Post 1336995)
Throwaway prices!! their throwaway prices are in millions and crores!! I need some water..!! |
Originally Posted by mlcarrera
(Post 1337372)
Wonder why they are quoting 1 cr for a used 911 turbo..when 2 year old bentley gt s are going for that much |
Originally Posted by speedy
(Post 1337405)
Hmm... Mlcarrera the bombay showroom was asking 1.25 Cr for a used Turbo. The dealer of course would see these prices and jack up the price of the car. I agree a GTS of 06/07 would go for 1 cr but when it reaches the hands of a dealer/broker he would ask for more as his cut is in it too. |
Originally Posted by loving_alaap
(Post 1337736)
who will sell a Rolls Royce with just 4K on the ODO?:deadhorse What will be the upgrade than?clap: |
Originally Posted by Dante
(Post 1337624)
@ speedy is this a black colored 911 turbo for sale you are talking about? Coz when i had been to the showroom a couple of months ago there was a black 911 turbo. |
Originally Posted by GTO
(Post 1337671)
They are talking about 1 - 2 year old exotics, wait till you see the prices when they are 4 - 5 years of age! I've seen some mouth-watering deals. 3 year old M3 for low 30's, 4 year old 911 for high 30's, 3 month old A4 3.2 FSI for 32...the list is endless. Depreciation is a petrol-head's best friend (when he is the one shopping, of course :D). I am FLOORED by the value in the "pre-worshipped" market. P.S. : The article seems to be more of an advertorial for Shyam Sharma's services. |
Originally Posted by loving_alaap
(Post 1337736)
who will sell a Rolls Royce with just 4K on the ODO?:deadhorse What will be the upgrade than?clap: |
Originally Posted by loving_alaap
(Post 1337736)
who will sell a Rolls Royce with just 4K on the ODO?:deadhorse What will be the upgrade than?clap: |
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