Well that didn't last long. TTAC reader Nick Goddard's claims his love affair with the first official U.S. smart car is still hot and heavy, but four days after taking delivery he's put it up for sale on eBay. When I contacted him by phone, the 25-year-old owner was more than a little cagey about his motivation for the sale, claiming that he didn't really want to sell the car. He's just "curious to see what people are willing to pay." Apparently, his curiosity was piqued by a Manhattan car dealer, who told our nick2ny that someone walked in and offered $10k for a place on the smart waiting list. Anyway, the answer to the question "what's a six-day old 'historic' smart car worth?" is… we'll see. Goddard paid $20,500 for the vehicle, and putting the smart up for auction on eBay obliges him to accept the highest bidder's offer (incurring various penalties if he doesn't). Our man Lang reckons he'll get $5k over sticker. Any other estimates? Oh, and what are the odds smart may want to snag it for themselves?
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If he were truly testing the waters, he could have put a reserve on it.
Nope, he’ll make at least 5k on this transaction.
Steven Lang, how so?
Buy it Now! As seen on ttac.com…
Perhaps this is a new way for this site to make dough?
“The current highest bid sits at $19k.”
Which with five days still to go in an eBay auction that has already attracted 20 bidders tells you that the closing price is going to be much higher.
Anyone experienced in eBay auction buying or selling knows that this is a very strong current bid with five days still left to go. He is going to make some serious cash flipping this car. Smart car, smarter owner!
The prices don’t really start to move until the last day of the auction, he might see a $5000 jump just in the last hour. I can’t believe he didn’t put a reserve on it, or a simple Buy It Now with what he wanted to make on it, he might have sold it within hours that way.
The MINI’s were selling for about $8000 more on ebay when they first came out, even used ones were selling for more then MSRP. Does this have that sort of demand?
Financially speaking, he’s not gonna regret this move.
Putting reserves on an auction can often put people off bidding. I’ve seen it happen many times. Someone will list a popular item with a reserve and hardly anyone will touch it. Someone else will list the exact same item, same description, equal feedback ratings, but no reserve and people will bid the thing up over fair market. I’ve seen the same thing with people who start their auctions at 20% or so under the fair market price and another who starts the bidding at $1 or something rediculously cheap. Hardly anyone looks at the former and bids the latter up to stupid levels.
eBay rule – seller can end his auction 24 hours before deadline regardless of bids.
$20k for a used car w/out a dipstick and gas mileage on par w/a standard tranny Corolla? There must be “smarter” ways to satisfy one’s “look at me” cravings…
BTW: Yes, I’ve driven a “schmart” in Germany and it is absolutely nothing to get excited about…a car for driving if you hate driving (not unlike so many others in this class).
“Anyway, the answer to the question “what’s a six-day old ‘historic’ smart car worth?” is… not much”
Glad you guys fixed that “error”
$19k with 5 days to go is pretty damn good.
Sounds like a friend of the family’s back in Germany during the mid-80s that more or less “sold” his position on the Mercedes-Benz waiting list for any new model that came out. I’m sure he’ll make money (as long as the high bidder doesn’t bale…which happens all to often), but he might regret giving up the smart. I guess people are willing to pay a premium for the car, but I think I can wait until the buzz is off…
Couldn’t they ship Smart cars cross-border from Canada the same way Canadians are importing American cars these days?
I dont see the draw with this little car. Its ugly, not the greatest mpg, doesnt use its space well, and cost way too much. The last generation scion Xb (has more interior space than a ford explorer) blows this thing out of the water as does the xa. The smart is heavier than early Mazda Miatas and many other fun cars…and when you hit any of them with a Chevy Tahoe, you can bet on the driver eating it.
1978 datsun 280z 2355lbs with inline-6
1997 miata 2070lbs
2008 smart for2 1800lbs
I bet an old geo metro would best it in every way
just bought a second hand smart fortwo passion 2004 for 5000€ lol
I’m going to miss the smart, that’s for sure. I wish I’d made two reservations (or had a friend reserve an extra, I guess). But–as I mentioned to Robert last night–though waiting in line is one of the last egalitarian processes, if you’re waiting for a tangible good, the market takes over after that. And Robert said “I applaud your decision” and mentioned free markets etc.
I’m not a car collector, and though I do feel sentimental about this particular car, I could get just as excited for my next one, and will happily get back in line. Its just that if it’s the first, the effective cost of ownership goes way up to beyond my means.
I’m going to put a review of it in the original article soon.
Is he really curious or is he out for profit.
This is what he had to say in his auction:
Q: Why are you selling the car. is it that bad or you just dont like it? Jan-21-08
A: Neither–I actually LOVE this car. It is perfect for Manhattan. Just perfect–it is so much easier to find parking spaces in this car that you can consider it a high-performance car for city needs. Anywhere you go, you can park. I’ve gotten used to the transmission (and like it too), the car gets lots of positive attention, and it is inexpensive to run. Plus, its by far the most interesting car you can get in its price range. I also love that the roof goes down at any speed–it makes it so much easier to enjoy a convertible. If you slow down and are in the sun–top down. If you speed up and go into the shade, top up. It’s fantastic. Its just that I’m not a car collector, and I figure the very first smart should go to someone who places significance on things like being “the first.” I’m going to be getting another spot on the waiting list, that’s for sure. Also, I live several miles closer to work at this point than I did when I reserved the car a year ago, and ride my bike to work about 2/3 of the time. If you can get to Manhattan and are considering bidding on the car, we can get together and I’ll show you the car. I think you’ll find it hard not to love.
A very good eBay listing. I almost wanted to bid on it myself.
I believe he’s going to do very well with it. Good luck!
My Ford Escort gets 31/40 and is twice the car. Literally. I think it’s underpowered. Wind resistance is it’s enemy.
Its a great and very inexpensive way to generate buzz for smart, and for the owner to make some money, considering that he had to pay taxes on top of the selling price.
Is it just a coincidence that Dave Schembri is in one of the photos?
The three rules of selling cars on Ebay…
1) $100 Strating Bid / No Reserve
2) 24 Great Pictures > 100 Adjectives
3) People pay for a great story… and pay even more for exclusivity.
I’ve sold cars on Ebay for over 5 years. If I lived in central Florida instead of Atlanta, it would be my ONLY line of work.
I’ll let the peanut gallery figure out why Central Florida is the optimal place for it…
So, how’d he get the spare panels home?
I’m going to take all the red ones off and drive to the dealer.
I love capitalism. Nice job, Nick!
Also, the car isn’t technically “sold” yet, like it says in the headline–it’s “for sale”
I hate to say it, but I think that Mr. Goddard here just used TTAC (and a lot of other media outlets) for his own purposes. He’s using this type of coverage to generate hype for his car, which will increase its sales price.
It’s a nice example of effective viral marketing. But it’s not very nice.
Considering that Manhattan dealers are not yet open, Nick is hawking (pumping) his car on Jalopnik:
http://jalopnik.com/347464/2008-smart-fortwo-first-us-drive
Well, he may have been a bit too long on the wind-up. It looks like there are five online at the moment.
That number may be up to 20 by the time the final 24 hours ticks in. That little paper is what’s really going to determine the value of the vehicle.
Something tells me it would have been a bit more savvy for him to have offered it via B-J.
What is so “smart” about a small, funny looking, poor riding and handling quirky car d’jour?
No offense Nick, but I drove several of these when I lived in Europe and was less than impressed. I’m surprised that it cost $20K! I would not pay more than 10K for one of these…
I don’t understand the attraction of this car when you can walk into a Honda dealer and get a brand new Fit for around $15k. Why pay a premium for a “Smart” micro-car? Sure the Fit is EPA rated at 33/40 MPG instead of the Fit’s 28/34, but you can actually put real people and their things in a Fit and go anywhere with it. A Smart car is pretty useless outside of city runabout duty. Drive 10,000 city miles in the Fit and you will consume about 303 gallons of fuel. That same distance in a Fit will use about 357 gallons of fuel. (357-303) * $3.25/gallon = $175.50. You may well pay more than that as an auto insurance premium for driving the Smart!
I noticed on the picture of the Monroney in the auction that the Smart comes with just a 2 year 24,000 mile warranty.
Not exactly a strong vote of confidence.
And yes, I know, shorter warranties lower the needed accruals for future claim and allow a lower initial sales price. However, in today’s market, a 2/24 warranty is laughably short.
I have seen the SMART car here in the Toronto area for quite some time now… and just don’t get it. $20,000 (even $15000) for this car just isn’t all that ‘smart’. When I drive by it in my sub-compact Yaris ($5k cheaper – almost the same mileage and seating for 4?!) I feel like I’m driving a boat!
Truly – if this car was $10,000 I would see it in a whole different light – I just can’t see anyone justifying that kind of cash for this car….
25K selling price, 5K over cost, not a bad profit for a week of ownership. It’s hard to imagine Nick not having that in mind when he bought it.