Bear in mind earlier this week when a 2023 Toyota GR Corolla proprietor tried to flip it on Vehicles & Bids? Bear in mind how they later complained that they misplaced cash on the public sale regardless that it offered for $8,500 over MSRP? It was superb, wasn’t it? Positive, they had been allegedly promoting it to make room for an additional automotive they obtained a shock allocation for, however nonetheless. It was great schadenfreude. Nicely, now we’ve obtained a brand new one for you, though this time it’s a 2023 Honda Civic Kind R.
Sure, the Civic Kind R. We do find it irresistible right here at Jalopnik. However one factor we don’t love about it’s the inevitable supplier markup concerned in any potential buy. In any case, the Civic Kind R is nice, however is it actually BMW M2-money good? Simply kidding. You received’t discover a new M2 for MSRP, both. It’s a troublesome actuality that the trendy automotive fanatic has to take care of, however that doesn’t imply we have now to love it.
So anyway, the fool in query right here obtained their palms on a 2023 Honda Civic Kind R and obtained it of their head that they might promote it on Vehicles & Bids for a revenue. Besides there was one little catch. Not solely did they pay greater than MSRP for it, however additionally they paid a whole $20,000 over sticker. And so they disclosed that within the itemizing. Factors for honesty, I assume. The GR Corolla vendor was an excessive amount of of a coward to even admit how a lot they overpaid.
However the factor about paying a $20,000 supplier markup is that you just’re not promoting a $45,000 CTR. You’re promoting a $67,678.95 CTR. It’s good to discover somebody who desires your automotive so badly that they’re keen to pay greater than $70,000 for a Honda Civic simply so you may make a revenue. And that’s not a slight in opposition to the CTR. Even Honda’s PR reps would in all probability let you know to not pay $70,000 for that automotive.
G/O Media could get a fee
Up to $100 credit
Samsung Reserve
Reserve the next gen Samsung device
All you need to do is sign up with your email and boom: credit for your preorder on a new Samsung device.
Thankfully, no one did pay that $70,000 or more for a Civic. Bidding stalled at $49,000. But since that didn’t meet the reserve, the car didn’t sell. So good on the bidders for not making what might have been the stupidest automotive financial decision they could have possibly made just because they were desperate for a new-ish Civic Type R.
And considering the listing explicitly called out the dealer markup even though it wasn’t mentioned in the GR Corolla listing, you also can’t help but wonder what went on behind the scenes. Did the seller admit they were just fishing for the one moron that might possibly pay $75,000 for a CTR and piss Doug off? Did they foolishly believe their car might sell for more than they paid for it? Clearly, they didn’t have that much confidence in the auction because they insisted on a reserve.
We’ll probably never know. But hopefully, this auction serves as a swift kick in the dick for any flippers looking to make a quick buck on cars that are already heavily marked up. Just because you have the money to overpay for a desirable car doesn’t mean you’re guaranteed to be able to sell it for a profit. And while we’re probably stretching here, we’d like to think this failed auction might impact the markup on other Civic Type Rs. JK, dealers will probably still continue to sell for $60k-$70k. But at least this particular flipper didn’t make any money on their auction.