Barett Jackson Auction

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Jan 23, 2006 | 02:51 AM

#21

glensgreen65

Racer

Joined: Dec 2003

Posts: 322

Likes: 11

From: west coast

Quote:

Originally Posted by Vipermike

I'm not sure I follow your math, 8% of $50K is $4k leaving you with $46K to play with.

Hey Mike,
If you were to buy a car at the auction with the remaining $46k you still have to pay the state tax (6 or 7%?) and yet another 8% again to buy! So really your only able to spend the $39k on the block.

Jan 23, 2006 | 03:03 AM

#22

Vipermike

Burning Brakes

Joined: Jul 2004

Posts: 825

Likes: 17

From: Rowlett, TX

I'm not sure why anybody would want to do that but I do now see what you are saying.

Jan 23, 2006 | 11:59 AM

#23

panchop

Melting Slicks

Joined: Dec 2000

Posts: 2,130

Likes: 1

From: mesa,az

seems to happen often from the people i chat with there. if not at the same auction they buy and sell at one of the other auctions going on at the same time.

Jan 23, 2006 | 03:37 PM

#24

Blk63Vette

Melting Slicks

Joined: Dec 2005

Posts: 2,576

Likes: 32

From: Sarasota Florida

Quote:

Originally Posted by BOB WINSKI

I was wondering how manny sellers loose money at selling there car at the auction.8 percent selling fee and no reserve.I saw the face of one of the sellers and he did not look to happy when the hammer came down.

I watched the auction most of the week...Yeah i think some of the prices were "stupid" Especially for that Ampibia car 120k what the hell? That CAR BEAT OUT a 1967 Big Block Corvette... went for 112k

Whats what bothers me.. I think the hobby is becoming a "richmans" game...Just like in the late 80s...Barett Jackson is ruining the "hobby" once again...Those people who have parts and Cars are going to think that crappy car that has been sitting in a field for 20 years is worth a kings ransom...

I remenber in the late 80s early 90s a Junkyard in Ohio I do believe in Trotwood ..had a AC Cobra car and a 1955 Gold wing Mercedes that were wrecked (very badly total restoration needed ..Ohio weather killed them) and had sat for at least 20 to 30 plus years..The old man who had owned the junkyard refused to sell or part out the Cars..when he "died" his son had no problem doing that....

I think went for 50k for both of them...Funny the old guy son told me when his dad got the AC Cobra in the 70s nonbody wanted it to "keep it" would not get "enough" money to bring it to the "crusher"...

1955 Gold wing Mercedes was owned by a "friend" of the old man..So it had sentimental value..

Now these peices of "junk" are worth some money...Just think years ago they were "junk" cars

Jan 23, 2006 | 05:21 PM

#25

vettebuyer6369

Administrator

Joined: Jul 2000

Posts: 53,997

Likes: 6,213

From: About 1100 miles from where I call home.

Quote:

Originally Posted by glensgreen65

The state tax is paid on any car purchase, so it's not really relevant to act like it's an extra expense at the auction.

At B/J, if the car is shipped home, there is no AZ tax. However, you still have to pay it when you get home (in most states), just like if you bought it anywhere else.

Jan 24, 2006 | 08:23 PM

#26

ctjackster

Le Mans Master

Joined: Jul 2003

Posts: 6,808

Likes: 24

From: Westport CT

ahh, another year, another BJ thread, with the usual theories of why prices of certain cars keep rising in double digit percentages year over year (I include C2 and C3 Corvettes, but they are being outpaced by other late 60s - early 70s "muscle cars"). As between real and fake C2s, while the price levels may have been rich, the bidders for the most part distinguished the real deal and not so real deal cars pretty well with their final bids, based on what I saw - I did see one "numbers matching 67 435" [that wasn't] go in the range of what real deal 67 435 cars were fetching, but generally folks were not getting "taken". Now, if an advertised clone Hemi Cudda this or that goes for big money, I don't count that as being taken, only the value someone places on the fine reproduction work of another.

All in all, I highly recommend it if you are around - you can get close to and gawk at around 1000 cars and usually their owners of the sort we love to be around (among other things that Banshee was cool, and the seller (son of the employee who bought it) was a nice guy too.) I'll be back, maybe not as a buyer, but I had a ton of fun, saw some aquaintences, and sharpened my knowledge a little.

Jan 25, 2006 | 09:37 PM

#27

jrs 427

Drifting

Joined: Feb 2005

Posts: 1,788

Likes: 131

I don't believe the "no reserve" pitch given at BJ. The guy that had to pull his car out due to a divorce had to pay 16% of the BJ estimate of value. I think they have an insurance backer that guarantees the car will bring their appraisel ( which may be lower that the owners view ) and if it is lower the ins. co. picks up the diff. Plus they pay 4-12 hundred for the sale time that it goes through and probably more for a specific day. Without a guarantee of value there wouldn't be so many no reserve cars..... I wouldn't believe it for a moment. With the millions they make they are probably the ins. writer.

Jan 25, 2006 | 09:46 PM

#28

Seaside63

Melting Slicks

Joined: Dec 2002

Posts: 2,257

Likes: 6

From: Mission Viejo California

Who needs a reserve when B-J seems to get the highest prices of anyone for these things?

I think the 8% commission is well earned.

I know if I ever decide to sell a specialty car again I'm taking it to Barrett-Jackson.

If my car isn't good enough to get accepted, I'll make it so and be back the following year.

I wish there was a Barrett-Jackson for real estate. I'd be restoring rambleshacks as numbers-matching mansions and running them through B-J.