TUA - Turners Auctions. A Case Study.

[CAM]

Might do OK as they are the seller of last resort...you need cash in a hurry...they are the place to sell your vehicle...market dictates the price and I imagine their commission structure wouldn't be too hard hit by a decrease in the value of vehicles.

[winner69]

When the likes of Snoopy and All Ears go head to head with their different views of TUA (more so on Sharechat than here) one feels they need to keep a casual eye on the shareprice to see what happens

One would have to say that what All Ears has been saying for years has panned out with TUA still hitting all time lows ... currently 42 cents (and a market cap of $11m hardly warrants listing)

[Snoopy]

When the likes of Snoopy and All Ears go head to head with their different views of TUA (more so on Sharechat than here) one feels they need to keep a casual eye on the shareprice to see what happens

One would have to say that what All Ears has been saying for years has panned out with TUA still hitting all time lows ... currently 42 cents (and a market cap of $11m hardly warrants listing)

I have been watching Winner, as I said one day I would be back purchasing more TUA - but not just yet. If you look at the volume of TUA shares being traded you will see it is very low. At one stage I looked and saw a total absence of buyers, until someone jumped in at 40c. I don't think anything in particular has happened in the last month to change the TUA situation.

Perhaps some shareholder who could no longer afford a Christmas hangover and in a moment of soberiety took time to review his portfolio and suddenly wanted out at any cost? It was certainly a horror finish to FY2008 for any company selling stuff, with even respected operators like Hallenstein Glasson and Michael Hill finishing at or near their year's lows. My own investment in TUA is part of a broader 'retail strategy' which was to see me boost my investment in retail in CY2008.

With the one in eight year downturn turning into a one in eighty year downturn (if you believe some commentators) this required me to readjust my strategy away from those retailing big ticket and discretionary items and look towards those retailers handling the basics. That meant the money I had earmarked to increase my shareholding in TUA, instead - after looking at other options (MHI, WHS and HLG)- instead went into boosting my holding in Restaurant Brands, up by around 50% over the last twelve months (average RBD purchase price 71c over that period). In relative terms, this has proved a good decision.

The second hand vehicle market has experienced a dislocation like nothing like I can remember. Perhaps the only thing that comes close is the arrival of Japanese imports in the early 1980s. Still the depreciation of the kiwi dollar against the japanese yen in particular has been savage during CY2008. The full effect of this has not yet flowed through to new vehicle prices. Will kiwis be able to afford the consequent 40% price hikes in these tough times? One of the few ways to cushion this blow will be to switch to near new vehicles and in this respect I don't see the used vehicle market declining further. Nevertheless I want to see some evidence that Turners will be able to capitalise on the reemergence of the used vehicle market before committing further funds. In the meantime I am sticking with my projection of Restaurant Brands being worth 80c by the end of this summer (it has tentatively pushed out of the 60c range up to 65c already) and continuing to look for a 'third arm' for my retail reinvestment strategy. I don't see myself committing any more funds to TUA until after the April 2009 AGM, no matter what Mr Market does to the share price. If that means I have to pay more than 50c per TUA share, then so be it.

SNOOPY

discl: hold RBD, TUA

[duncan macgregor]

BRO, YOUS IS ONE COMPLICATED JOKER UNDERESTIMATED BY THE MASSES. Old PHAEDRUS can only do a chart after it has happened. After its happened he would hardly stick the lines in the wrong place now would he?. You on the otherhand BRO are a bit like me, not only with your spellin, but you come out with what is going to happen next week, which makes us much more intelligent than someone muckin about with chicken entrails.
SNOOPY is the one he quoted in the red ink, he like his name sake, not only goes down in flames, but pours petrol on the fire on the way down to put it out. PHAEDRUS gets on the bus at 25 to the hour and jumps off at five past. Your system is a bit like mine BRO the more you explain it the less they comprehend. Nice to see you back. MACDUNK

I wonder what happened to the BRO, He is one poster that i looked forward to reading his posts. WHERE ARE YOU BRO WEEZ IS MISSUN YOU.? Happy new year all Macdunk

[BRICKS]

BRICKS has just returned from his Hamilton & Auckland gambling trip but while at these
towns looked at the TUA operations in size much larger than the the Wellington concern
full of cars and customers.

IT should be noted TUA does not own the cars only rake off the commission so to me
the car price dose not matter which we all know is down but there is still a market
other wise the doors would close.

To me cheep entry into any stock is good and don't follow the mob don't write TUA
off just YET..

[POSSUM THE CAT]

Bricks unless things have changed recently Turners did own a lot of the better import cars and were Auctioning them with Turners Warranties and they were the importers. Daughter bought one of them and there were others marketed at fixed prices. Also I was highest bidder on another car prior to daughters purchase and was told as it was one of Turners own cars unless I was going to increase the bid very substantially forget about it.

[BRICKS]

Bricks unless things have changed recently Turners did own a lot of the better import cars and were Auctioning them with Turners Warranties and they were the importers. Daughter bought one of them and there were others marketed at fixed prices. Also I was highest bidder on another car prior to daughters purchase and was told as it was one of Turners own cars unless I was going to increase the bid very substantially forget about it.

I think those days may be over but some wrecks came through and where sold cheep
all that can be said they got there commission and off they went it may be different
but nothing was SAID..

[POSSUM THE CAT]

BRICKS In Auckland there are as many as 10 Auctions a week if you include North Shore and every auction is usually for a certain class or price range of cars. It sounds like you were there on EL CHEAPO Day Some Saturdays you do not go unless you have more than $30000.00 to spend

[BRICKS]

BRICKS In Auckland there are as many as 10 Auctions a week if you include North Shore and every auction is usually for a certain class or price range of cars. It sounds like you were there on EL CHEAPO Day Some Saturdays you do not go unless you have more than $30000.00 to spend

YOU could say that in Hamilton they more than one to you cant help bad luck well pussy cant see your point as WELL..

[BRICKS]

THE best suggestion yet take there cars and crush them then let the little boys go
round to TURNERS AUCTIONS and they can BUY a new one, then return to racing
and repeat the process all over AGAIN..