2000 LX sold for $16k on BaT - thoughts?

[nbailz]

2000 Lexus LX470

Bid for the chance to own a 2000 Lexus LX470 at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #26,976.

bringatrailer.com

This happened a couple of weeks ago, but saw it posted on ClubLexus and I almost didn't click on it because for a clean, no rust 67k mile 2000 I could believe that. After seeing the condition of it I'm surprised it went for that much considering the disclosed rust and potential need for new tires & timing belt service due to age. Plus, the frame looks to be painted and i'd be curious if the rust was properly dealt with.

What are your guys thoughts? Does that mileage really command that much of a premium?

 

[Lonegrasshopper]

$11k, tops.

 

[iwashmycar]

Seems like plenty of rust. If the body is rusting, and the frame is all sprayed black.....no thanks. You can see everything they didnt paint is super rusty. Looks like it just sat forever. Id rather a driven truck that is well maintained over one that probably just sat outside or something.

 

[97 AZ LC]

I'm still trying to figure out if BaT is a scam or just chock full of dopey people. The listing reminded of one of my tenets which is that you should never buy a car from a seller who describes the wheels as being "wrapped" in tires, refers to the leather upholstery as "hides", or the paint job as a "respray". Just stay away from them.

 

[geanes]

Guess it's time to put mine on BAT for $20k

 

[knewstance]

All that and a broken sunroof lol

 

[nothappening]

That rust around the windshield is a big old hell no from me. I learned my $2k+ lesson the first time.

 

[bamabrock]

What are your guys thoughts?

 

[FxFormat]

How does BAT work, do they come to you after they win the auction and pay you or does the website do all that?

 

[ga12r1]

Maybe I’ll put mine up for about 40k just for S&G’s.
If it sold I would give @benc a call and go full Dissent then have @ACC Toyota triple lock and supercharge my 200. That would be a mean machine!!!

 

[MongooseGA]

I predict we'll see the new buyer here in 30 days. He'll share his instagram handle, explain how he wants to build an 'overland type vehicle', then ask what size tires fit without lifting, and whether or not he should keep his AHC.

Then in another 30 days he's going to be pissed because he blew $16k on a rusty truck and the ABS pump motor went out and 4-speed transmission is making noise.

Anyone wanna put some money on it?

Maybe I’ll put mine up for about 40k just for S&G’s.
If it sold I would give @benc a call and go full Dissent then have @ACC Toyota triple lock and supercharge my 200. That would be a mean machine!!!

Imma need you to call me before you sell yours.

 

[geanes]

I predict we'll see the new buyer here in 30 days. He'll share his instagram handle, explain how he wants to build an 'overland type vehicle', then ask what size tires fit without lifting, and whether or not he should keep his AHC.

Then in another 30 days he's going to be pissed because he blew $16k on a rusty truck and the ABS pump motor went out and 4-speed transmission is making noise.

Anyone wanna put some money on it?




Imma need you to call me before you sell yours.

You forgot one critical thing: they'll also ask what the football shaped chunk of metal is that hangs from the frame.

 

[jLB]

I predict we'll see the new buyer here in 30 days. He'll share his instagram handle, explain how he wants to build an 'overland type vehicle', then ask what size tires fit without lifting, and whether or not he should keep his AHC.

Then in another 30 days he's going to be pissed because he blew $16k on a rusty truck and the ABS pump motor went out and 4-speed transmission is making noise.

Or it will just get posted as "For Sale", in the "Tech Forum" here, at twice the BaT price.

 

[ibrahim83]

I predict we'll see the new buyer here in 30 days. He'll share his instagram handle, explain how he wants to build an 'overland type vehicle', then ask what size tires fit without lifting, and whether or not he should keep his AHC.

Then in another 30 days he's going to be pissed because he blew $16k on a rusty truck and the ABS pump motor went out and 4-speed transmission is making noise.

Anyone wanna put some money on it?




Imma need you to call me before you sell yours.

Don't forget the "whats this hanging on my frame" thread as well.

 

[ibrahim83]

How does BAT work, do they come to you after they win the auction and pay you or does the website do all that?

no. once it's over, the winner is in contact with you and you do the sale privately. so you send the paperwork and your wire info, they send back the docs and wire your money.

 

[Whiskerz]

no. once it's over, the winner is in contact with you and you do the sale privately. so you send the paperwork and your wire info, they send back the docs and wire your money.

You also pay BAT the fee based on the final price. The max is $5,000.

 

[RND1]

I’ve sold a vehicle on BaT and got far more for it with a nationwide audience looking than my local FB or CL listing. That being said the BaT commentary and the fact that the final 2 min of the auction keeps going until everyone is done bidding is what sets it apart.

Commenters are typically not buyers they just share their “expertise” so the real buyer can buy with confidence. As with any auction it only takes two to drive the price up.

I watched this rig through the whole process and the Illinois location was a dead giveaway that this rig was going to be rusty. At the end of the day the buyer cared more about the low mileage than the rusty undercarriage.

Unless the auction title states No Reserve there is an agreed upon reserve. BaT asks you not to disclose that reserve. If it meets reserve you then have to contact the buyer and make all of the final sale arrangements on your own. If it doesn’t meet reserve you keep your vehicle but BaT will not list it again.

Buyer pays BaT a 5% commission on top of the final bid price. If you think this sold for $$ take a look at the 60 series auctions!

 

[suprarx7nut]

WTF is up with the steering wheel? Super low miles and a ruined wood steering wheel. Seems odd.

 

[nbailz]

I’ve sold a vehicle on BaT and got far more for it with a nationwide audience looking than my local FB or CL listing. That being said the BaT commentary and the fact that the final 2 min of the auction keeps going until everyone is done bidding is what sets it apart.

Commenters are typically not buyers they just share their “expertise” so the real buyer can buy with confidence. As with any auction it only takes two to drive the price up.

I watched this rig through the whole process and the Illinois location was a dead giveaway that this rig was going to be rusty. At the end of the day the buyer cared more about the low mileage than the rusty undercarriage.

Unless the auction title states No Reserve there is an agreed upon reserve. BaT asks you not to disclose that reserve. If it meets reserve you then have to contact the buyer and make all of the final sale arrangements on your own. If it doesn’t meet reserve you keep your vehicle but BaT will not list it again.

Buyer pays BaT a 5% commission on top of the final bid price. If you think this sold for $$ take a look at the 60 series auctions!

You're right...those 60 series and even 80 series are going for a lot. I was looking around and saw this listing for an LX450:

No Reserve: 1996 Lexus LX450

Bid for the chance to own a No Reserve: 1996 Lexus LX450 at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #21,166.

bringatrailer.com

Its frame is painted and in the comments the buyer mentions he's already put $3k into it and that's not including serious frame rust that he wasn't aware of. Have a good feeling whoever bought this '00 LX is in for some bad surprises.

 

[fro20fow]

Who cares. Someone bought it.

We could debate all day as to whether low miles or some other characteristic is worth a premium. To some it is and to some it is not.

Obviously external factors such as low unemployment and gas prices with bull market has demand of all vehicle and products at all time highs.

Have you tried to rent a vacation house on the beach recently? High prices and low availability.

This market is not unique to Landcruisers. Tacomas, tundras, 4runners etc. are commanding high prices. Certain model BMWs, Porsche etc can demand insane prices.

Is Tesla stock work $500 or is it worth the $250 it was trading for a couple months ago?

who knows. Maybe. Maybe not.