Discussion in the Australian prestige car forums:
http://aussieexotics.com/forum/off-topic/the-global-economy-aussie-economy-and-where-it-is-all-headed-t2452.0.html;msg62467#msg62467
Ever hankered for a Hummer, ached for an Aston Martin or dreamed of buying your very own Lamborghini? Well, this could be your lucky week.
Luxury car owners are putting their dream machines on the block in record numbers as the recession bites.
Thirty luxury vehicles worth $3.5 million will go under the hammer in Auckland this Saturday at Turners Auctions’ largest prestige auction.
Turners marketing manager Todd Hunter said the value and range of cars available at prestige auctions had been steadily increasing as owners could no longer justify the cost of keeping a “spare” luxury car in the garage.
“We’ve got every kind of luxury vehicle represented across the auction a lot of the sellers are financial companies, so they’ve been repossessed, and they’re pretty unemotional about it. But I guess for some private owners it would be a bit of a wrench.”
With names like Lamborghini, Mercedes Benz and Maserati on the list, those who have saved their pennies will have a rare opportunity to get a bargain on their dream car. The weekend’s lineup includes a 2006 Hummer H2 with an estimated retail price of $90,000, to be sold with no reserve.
There is a handmade 1997 Aston Martin Vantage one of only 150 worldwide and the only one of its kind in the southern hemisphere.
Bought new for $750,000, it had its reserve price slashed after failing to sell at the last prestige auction, and is expected to fetch about $150,000.
Another “motivated” seller has put up a combo deal the successful bidder on a 2003 black BMW 545i will get a free 1999 VW Polo thrown in, valued at $9000.
Turners had held prestige auctions every two to three months in recent years, with cars often selling for about 30 per cent less than their retail value, Mr Hunter said.
Other dream cars up for auction this Saturday include a 2009 Ultima GTR Supercar valued at $250,000 and a white 2006 BMW M6 E63 convertible with a black hood.
Of the 30 cars to be auctioned on Saturday, 12 have been repossessed.
Source: STACEY WOOD – The Dominion Post – Stuff.co.nz
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