Dealer David Slone owns the largest auto dealership group based in Arkansas, yet he has been stymied in his efforts to buy a German luxury brand dealership -- anywhere.
Slone, 52, has spent three years looking for a BMW, Mercedes-Benz, Audi or Porsche store to buy. He has made four offers in the last two years, only to lose each time.
"You're naturally disappointed, but you begin to realize where the marketplace is, and you have to be patient," said Slone, owner of Superior Automotive Group, of Fayetteville, Ark. "You can overpay to some degree, but you can't overpay so much that you don't get a return on your investment."
Slone faces the same challenges as others looking for those franchises. There are a limited number of those brands' stores for sale, and the available ones command a premium price tag. His story illustrates the dynamics of today's buy-sell market.