car auctions

[Rustyt1953]

My FIL Earl, is 85 and a genuine "car guy". His knowledge of all things automotive is astounding. We watch every Mecum and Barrett-Jackson auction we can and enjoy them both. We prefer Mecum as it's obvious that the commentators love what they do, the camera work and staging are a bit better and it's a little less stuffy.

To the point: to make them more fun, we play two games against each other:

1. We try to see who comes closer to predicting the "drop the hammer" price.

2. We each start with an imaginary budget of $100K for the auctions concentrating on "drivers" and $300K for those dealing with rotisserie, frame-off and resto-mods. Once you buy a car at the hammer price, you keep it. You can't sell, trade or cancel it later because something cooler crossed the block. At the end we compare notes and with him usually telling me that the music industry was the right choice for me.

He adores talking cars and looks forward to each telecast. It is immensely gratifying to share in the childlike joy he gets out of it. We are planning to go to the next Mecum event in Indy.

Anyone else watch them?

 

[oldman10mm]

Watch both of them,when they're available on the system and if I'm around to actually sit and watch them. A friend in NC wants to go to the Mecum Kissimmee one to potentially acquire a vehicle and he wants me along. Florida in January sounds OK to me. I've been a gearhead since out of high school. Muslecars of the 60s'/70s' and currently got a 98 Z28 setup for the street.

 

[italiansport]

What used to be an enjoyable and affordable hobby has, like so many others, turned into a showplace for the rich. I live in Scottsdale and could walk to the Barrett Jackson auction from my home but I haven't been there in years. Even the admission fee is in nosebleed territory.
I watch some of these auctions on TV and marvel that some will pay some of these prices. Ron Pratt a local developer here bought the GM Futureama buss several years ago for over 3 million dollars. He sold it last year at BJ and I believe it brought around half that amount.
He can well afford the loss but unless you're into the strictly entry level cars under $20K it just another rich mans hobby.
The one good thing about this to me is many more cars have been saved from the scrap yard due to the interest.
Jim

 

[NYlakesider]

I watch the auctions any chance I can, I prefer Mecum as they have less pompous rich people building up the price of cars into the stratosphere.

I was at the BJ auction at the Mohegan Sun casino in Connecticut this year. Was very good. Going back again next year possibly as a bidder!

 

[Road Rat]

There was one on last week we were watching. I "assume" is was recorded - but there were 3 cars I would have paid more for than the price they brought!!!! I SCREAMED.........

It was a low bid day for sure!!

 

[bigwheelzip]

I don't "know" cars, but In this day of homogeneous design, I watch those auctions just to admire the rolling art that auto design used to be.

 

[pawngal]

What used to be an enjoyable and affordable hobby has, like so many others, turned into a showplace for the rich. I live in Scottsdale and could walk to the Barrett Jackson auction from my home but I haven't been there in years. Even the admission fee is in nosebleed territory.
I watch some of these auctions on TV and marvel that some will pay some of these prices. Ron Pratt a local developer here bought the GM Futureama buss several years ago for over 3 million dollars. He sold it last year at BJ and I believe it brought around half that amount.
He can well afford the loss but unless you're into the strictly entry level cars under $20K it just another rich mans hobby.
The one good thing about this to me is many more cars have been saved from the scrap yard due to the interest.
Jim

I was at the Scottsdale auction when the Ron Pratt collection sold, the bus sold for $4 million.

This weekend I'm at the Branson Collector Car Auction, a slightly lower level than Barrett-Jackson or Mecum but still interesting. Prices are reasonable, I would be buying but have no place for more cars.

 

[allthumbs]

I watch them when I can and 1 thing I've learned is you can get some great bargains at the auctions, even with the buyers fee, a lot of classic car dealers purchase from these auctions and mark the cars wayyyyyyy up in their showroom.

I enjoy watching them, just for the classic original cars mostly.

 

[NYlakesider]

I watch them when I can and 1 thing I've learned is you can get some great bargains at the auctions, even with the buyers fee, a lot of classic car dealers purchase from these auctions and mark the cars wayyyyyyy up in their showroom.

I enjoy watching them, just for the classic original cars mostly.

For sure I'm a life time gear head and even worked PT at a speed shop/garage and did my share of engine swaps, suspension upgrades, and other serious work on cars. Many time those auction cars sell for less than the cost of the parts put in them. Not even considering labor, just parts!

 

[italiansport]

Quote:
"I was at the Scottsdale auction when the Ron Pratt collection sold, the bus sold for $4 million."


I stand corrected. However I'd forgotten he sold it as a benefit for the Armed Forces foundation. Thanks for the correction.

 

[erics]

Just watching the B-J from Vegas this weekend. Lots of fine rides around $40g range. Many seem quite reasonably priced for quality of vehicle. Quite a few sold well below build cost. Almost makes a fellow think he should get a bidders card! In my cse I enjoy seeing all the muscle cars of my youth.

 

[SW MP15]

Me and my Son and Grandson watch all the Mecum and Barrett Jackson televised auctions. And have for years. We watched most of the Barrett Jackson this weekend.

But I've been a licensed car dealer for over 35 years. And there's nothing more exciting to be at a live car auction and make decisions in split seconds that could be a total winner or a total bust.

You do get a chance to start and check out cars, if they'll start, some auctions do have test tracts to drive a car your interested in, before the auction begans. Some don't. And some cars are sold under the Green Light, meaning it's ride and drive. You can get a gate pass after you buy it. And drive it outside the auction. And if there's a major problem, such as engine or transmission, you only have 1 hour to arbitrate it, from the exact time you bought it. To Either turn it down or ask the seller to take less, some auctions have a $300-500 aberration rule, meaning the repair needed must exceed that amount. But, if it's sold under the Red Light, it's sold completely AS IS, most Repo's are sold as is. And even if it has puppies, it's yours, no matter what. And some have titles that day, some are sold title attached. And the seller has 30 days to surrender the title, mostly new car trade ins that have large pay offs. But you have to pay for it the minute you purchase it! But the auction holds your check till the title arrives. And if the title doesn't arrive in 30 days, you have the option to bring it back and pick up your check.

Like I said, it's exciting! And you better be paying attention! Because that split second purchase, could cost you thousands of dollars!

But there's nothing like the rush of that split second decision!!! I LOVE It!!!