Turner's Auctions... advice please?

[klingon]

I'm looking at buying a damaged GN250 from Turners, but I've checked out their schedule of fees and it seems pretty crazy.

If I'm reading it right, if I bid $500 for a broken bike, I end up paying a fee of $195 to turners in addition to the price I bid. ie the bike ends up costing me $695.

That's in addition to the seller paying them a $50 entry fee + $250 commission (50% of sale price) = $300.

So Turners gets total fees of $495 on a $500 sale?! Surely not!

As for a $500 bike costing me almost $700, I might be better to hold off and wait until something similar comes up on Trade Me. At least I know the price I bid is the price I pay.

Here's a link to their fees page:
http://www.turners.co.nz/About/Pages/Fees.aspx

[Ixion]

Bloody hell !

[klingon]

Bloody hell !

My reaction exactly!

[jtzzr]

Seems a bit excessive does`nt it?

[Grumpy Gnomb]

look on the star insurance web site for wrecks as they always have a load of bikes on there and they keep on e-mailing you when they get new ones on board

[rainman]

That's in addition to the seller paying them a $50 entry fee + $250 commission (50% of sale price) = $300.

Wow.... 50% commission. Are they catering to the single-digit-iq-never-heard-of-trademe market?

I'm now double glad I said "no thanks" after first interview for a job a few years ago...

[Trouser]

Fuck me thats excessive.

If it sneeks up to $501 then total fees = $195 + $275 + $50 + $17.53 = $537.53

Seriously rediculous.

[JMemonic]

Had to read it a few times but it looks like you are right, farck that a little on the nose.

[Slyer]

Buyer Fees
$6,000 to $49,999 = 6% of sale price
$50,000 to $74,999 = 4% of the sale price
$75,000 to $99,999 = 3% of the sale price
$100,000 plus = 2% of the sale price

So that means if you pay $45000 for the vehicle you pay more than if you paid $100,000
What the hell?
Seriously strange fees.

[Squiggles]

As for a $500 bike costing me almost $700, I might be better to hold off and wait until something similar comes up on Trade Me. At least I know the price I bid is the price I pay.

That is still a good deal given you are only after the motor (i presume its low k's), you can get alot back from parting out wrecks. In the past motors have gone for up to 800

Yah the fees are a bit of a rip tho, but they wouldnt do it if there wasnt money to earn from it.

[klingon]

The $500 was just an example - I don't know how much it's going to sell for yet. And then I have to do all the hard work of parting it out and selling it bit by bit to recoup the money... and... and... I'm only a girl!

Really I just wanted it to be all simple and straightforward. Never is though, is it?

[Swoop]

Hang around at the auction and see who is selling the bike. Then make them an offer afterwards...

Crazy-loco commission!

[klingon]

look on the star insurance web site for wrecks as they always have a load of bikes on there and they keep on e-mailing you when they get new ones on board

Thanks for the tip. I've been keeping an eye on their web site but no GN250 wrecks have come up recently. (How can there possibly be a scarcity of GN250 wrecks?!)

Hang around at the auction and see who is selling the bike. Then make them an offer afterwards...

Unfortunately it's likely to be an insurance company, so they will want to stick with the process.

I just don't see how Turner's can justify that kind of commission - and charging both the seller and the buyer!

[Swoop]

I just don't see how Turner's can justify that kind of commission - and charging both the seller and the buyer!

It is not uncommon to see both the buyer and also the seller charged a commission. I have bought items in that manner... unfortunately.
The size of the commission is rather large in this instance.

[Slyer]

Why are you fixing the volty?
Just buy a WHOLE GN or otherwise.