Hoovies Garage's Biggest Car Auction Losses: Buick, Porsche, and Range Rover

Hoovie's Recent Auction Losses

• 💡 Hoovie discusses his recent auction results, acknowledging a pattern of losing money on project cars, but noting that one particular auction dump was "unbelievably bad."
• 🎯 The primary goal of selling cars is to cover taxes and fund future acquisitions, a strategy that doesn't always align with traditional financial advice.

The Buick Park Avenue Ultra

• 🚗 A 2003 Buick Park Avenue Ultra with 70,000 miles was purchased for $5,500.
• 🛠️ After $4,160 in repairs (coolant elbows, intakes, air suspension, AC, motor mounts) and $400 for detailing, the car sold for $10,600.
• ✅ This resulted in a loss of only $76, making it the least lossy car of the auction.

The Porsche 911 (996) Turbo Safari Build

• 🚀 A 2001 Porsche 911 Turbo Tiptronic, purchased for a low $24,000 due to its poor condition (faded paint, glitter repaint, swapped interior), was intended for a safari build.
• 💰 The conversion cost $4,759 in labor and $12,499 for parts like suspension and crash bars, totaling $17,258 for the build.
• 💥 An off-road excursion resulted in a crushed turbo inlet ($2,570 repair) and extensive mud damage requiring a $500 detail.
• 📉 The car sold for $35,690, resulting in a loss of $9,196.

The Range Rover Evoque Convertible

• 💸 The Range Rover Evoque convertible, purchased for $24,000 (cheapest in the USA), had a bad head gasket upon arrival.
• ⚙️ Engine replacement cost $4,000 for a used engine, with an additional $4,470 in labor due to the complex job.
• 🎨 Further expenses included $1,500 for painting the bumper and side after off-roading damage and detailing.
• 📉 The vehicle sold for $18,600, leading to a significant loss of $16,730, the largest percentage-wise.
• ⚠️ The lack of market demand for the Evoque convertible was highlighted, with a Florida dealer buying it for inventory and struggling to resell it.