Selling a Porsche on consignment?

[Stephen Tinker]

24 minutes ago, firstone said:

Some may find it more palatable to sell the wifey than the car. 😆

But it maybe not as easy depending on mileage and servicing records....

[twro]

On 23/02/2020 at 21:05, TwoHeadsTas said:

Interesting discussion today on how some Melb luxury car dealers get around the Vic ban on consignment selling with someone who has a car in the system at present.  Apparently the owner signs an agreement to sell the car to the dealer at X price, and the dealer doesn't countersign or enact the agreement until the car is sold to a customer.   Dealer's profit is then the difference between the sale price and the agreed price with the customer , less the GST component obviously.  Presume they must be pretty sure this arrangement gets around the law.  Apparently though the dealer with high end show rooms in different states does own all their cars, but presumably price appropriately when buying...... 

This is what I have been told as well. I agree it seems to plainly be a way to "get around the law", and I'm surprised Consumer Affairs Vic don't stop the practice. I can't imagine they don't know it's happening - these showrooms are high profile and have lovely cafes  

Not that I agree with the "no consignment" rules, but they are presumably in place for a reason.

In response to the OP, from what I know a typical consignment fee is $1k listing fee + 10% commission, but of course this varies with the car and the dealership, and is likely negotiable if you have an in-demand car and are realistic about a sale price.

 

[Coastr]

On 23/02/2020 at 13:40, firstone said:

Some may find it more palatable to sell the wifey than the car. 😆

There's a liquid market?

Having said that, back in the olden days people did 'sell' their wives in an open market.  Sounds terrible but in reality there was no divorce allowed in most places unless you were connected with the church, so the new husband would open bid on the old wife as a means of quasi-legally nullifying a marriage.  Of course in some societies wives were seen as property and were sold all too frequently.

These days wives sell the husband back to the state and collect cash and prizes, and lawyers pick up the transaction fees.

Back on the topic of no consignment sales - bizarre the Vic gov thinks that is something to be regulated.   Just how broken can the Australian car market get?  Who are they trying to protect?

[JLD]

14 minutes ago, Coastr said:

There's a liquid market?

Having said that, back in the olden days people did 'sell' their wives in an open market.  Sounds terrible but in reality there was no divorce allowed in most places unless you were connected with the church, so the new husband would open bid on the old wife as a means of quasi-legally nullifying a marriage.  Of course in some societies wives were seen as property and were sold all too frequently.

These days wives sell the husband back to the state and collect cash and prizes, and lawyers pick up the transaction fees.

Back on the topic of no consignment sales - bizarre the Vic gov thinks that is something to be regulated.   Just how broken can the Australian car market get?  Who are they trying to protect?

It's time they made all of this sort of stuff uniform through the states and territories. Same with registration, road rules, etc, etc, etc

[GC9911]

1 hour ago, JLD said:

It's time they made all of this sort of stuff uniform through the states and territories. Same with registration, road rules, etc, etc, etc

We’ll have none of that talk here thanks. Why would you want to get rid of 6 state & 2 territory governments? Your not inferring they all do the same thing are you, surely one uniform set of road rules couldn’t be better than 8 different ones. one set of school curriculum, one set of health standards, the list could be endless. And what do we do with 6 redundant state premiers to say nothing of the excess politicians, unemployment is bad enough without foisting that useless bunch of clowns on the system. 😂😂😂
 

[JLD]

3 hours ago, GC9911 said:

We’ll have none of that talk here thanks. Why would you want to get rid of 6 state & 2 territory governments? Your not inferring they all do the same thing are you, surely one uniform set of road rules couldn’t be better than 8 different ones. one set of school curriculum, one set of health standards, the list could be endless. And what do we do with 6 redundant state premiers to say nothing of the excess politicians, unemployment is bad enough without foisting that useless bunch of clowns on the system. 😂😂😂
 

I guess... It's like we all live in different countries. In the same country. On an island. That is a continent.

[luzzo]

6 hours ago, GC9911 said:

We’ll have none of that talk here thanks. Why would you want to get rid of 6 state & 2 territory governments? Your not inferring they all do the same thing are you, surely one uniform set of road rules couldn’t be better than 8 different ones. one set of school curriculum, one set of health standards, the list could be endless. And what do we do with 6 redundant state premiers to say nothing of the excess politicians, unemployment is bad enough without foisting that useless bunch of clowns on the system. 😂😂😂
 

 

3 hours ago, JLD said:

I guess... It's like we all live in different countries. In the same country. On an island. That is a continent.

I've tried explaining this to relatives overseas...

It's just too... embarrasing 😲

[TwoHeadsTas]

7 hours ago, GC9911 said:

We’ll have none of that talk here thanks. Why would you want to get rid of 6 state & 2 territory governments? Your not inferring they all do the same thing are you, surely one uniform set of road rules couldn’t be better than 8 different ones. one set of school curriculum, one set of health standards, the list could be endless. And what do we do with 6 redundant state premiers to say nothing of the excess politicians, unemployment is bad enough without foisting that useless bunch of clowns on the system. 😂😂😂
 

Got to say that's one of the things our kiwi friends from across the ditch have got right, no "state" governments between local councils and "big" government.......

[JLD]

14 hours ago, TwoHeadsTas said:

Got to say that's one of the things our kiwi friends from across the detch have got right, no "state" governments between local councils and "big" government.......

fixed it for you

[Rod C]

On 23/02/2020 at 21:05, TwoHeadsTas said:

Interesting discussion today on how some Melb luxury car dealers get around the Vic ban on consignment selling with someone who has a car in the system at present.  Apparently the owner signs an agreement to sell the car to the dealer at X price, and the dealer doesn't countersign or enact the agreement until the car is sold to a customer.   Dealer's profit is then the difference between the sale price and the agreed price with the customer , less the GST component obviously.  Presume they must be pretty sure this arrangement gets around the law.  Apparently though the dealer with high end show rooms in different states does own all their cars, but presumably price appropriately when buying...... 

So once the car is sold and the agreement is enacted does both the dealer and new buyer  pay stampduty ?

If thats the case the state goverment would be crazy to change the rules.

[TwoHeadsTas]

1 minute ago, Rod C said:

So once the car is sold and the agreement is enacted does both the dealer and new buyer  pay stampduty ?

If thats the case the state goverment would be crazy to change the rules.

Registered Dealers only pay a nominal transfer fee and no Duty, final purchaser pays the duty (at least that's the way it works in Tas, presume Vic would be the same.....)