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Originally Posted by racer_d
Dealer Auction = Wholesale auction, no? No speculators or investors. These are the "used car lot dealers" to stereotype. Often off lease cars, others were trade ins that they need to get rid of. They buy low, mark em up a few grand and re-sell them. Yes, a '98 Boxster is about 9-10K in the wholesale world. "he" will detail it, and try to sell it for $16K.
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You are right about the stereotypes. Truth is, like all other occupations, there are dealers and there are dealers.
Some look for the absolule biggest piece of trash they can find, as long as it looks good. Others go the other way and are very picky, esp. when it comes to a Porsche.
Still others are stupid and actually don't know what they are buying.
Fact is, it is not that easy to make money as a used car dealer. The data supports this, as the majority of new dealers fail to succeed.
Risk all over the place.
