Your thoughts on this 1963 Split Window
11-18-2018, 05:09 PM
#221
Enjoy while you can.
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11-18-2018, 05:23 PM
#222
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I'd bet you're correct in your assumption. No disrespect, but I would be shocked if someone ponied up more than 50K for that car. Again, no disrespect, but IMHO, the car is pretty cobbled up, very poorly done in a lot of areas. But, as history has shown so many times, "There is an *** for every seat"...GLWS
11-18-2018, 05:32 PM
#223
Safety Car
11-18-2018, 06:13 PM
#224
Melting Slicks
11-19-2018, 02:22 AM
#225
NONE of those bids were real. They were ALL Chandelier bids. I would really hope that the OP gets some education on how all of these auctions work, before he goes to a no reserve auction thinking that he had a 90K bid. There were NO bids on that car. Auction house pushed it to 90K to try and get a "real money" bid. Nothing illegal, that's just how it works. Please be careful, as these guys have NO mercy on someone who doesn't understand the process.
To the OP: The snippet below was taken from a quick internet search. I have bought and sold many cars at auctions. Trust me on this one, you had NO bids on your car. At Barrett Jackson, If you only pull one bid, at say 35K, then you just sold your car for that amount. There is NO chandelier bidding at a "no reserve" auction, so the high bidder gets it. Do a little research before you consign your car to Barrett Jackson. Look at the REAL market. Don't listen to your friends (with no experience). Your car will sell regardless of the price at Barrett Jackson. (unless of course you buy it back, with premiums). Your car is very nice, and you deserve to get the best price that you can. Don't get caught up in the hype of the auction house rhetoric, and try to be as realistic as you can when establishing your expectations. A no reserve auction won't give you a second chance. Just my two cents!!! Good luck.
The practice of Chandelier Bidding, otherwise known as Buy-In bidding, Rafter bidding, Off-the-wall bidding, Consecutive bidding, Vendor bidding, or Consignor bidding, is the practice where “the auctioneer pretends to take a bid from the room in order to encourage bidding, create the appearance of demand, or to push bidding closer to the reserve price”. In other words, it’s a fake bid.Auction houses benefit from chandelier bidding because it gives the illusion of a stronger auction. Most auctions believe in the power that mood can have on the auction floor: The appearance of bids begets more bids, the appearance of passed lots begets more passed lots. According to this logic, buy-in bids actually produce a more successful auction overall by keeping spirits up on the floor. Likewise, buy-in bids can also encourage current bidders to bid past the reserve price (if bidding does not reach reserve price, the item remains unsold).
To the OP: The snippet below was taken from a quick internet search. I have bought and sold many cars at auctions. Trust me on this one, you had NO bids on your car. At Barrett Jackson, If you only pull one bid, at say 35K, then you just sold your car for that amount. There is NO chandelier bidding at a "no reserve" auction, so the high bidder gets it. Do a little research before you consign your car to Barrett Jackson. Look at the REAL market. Don't listen to your friends (with no experience). Your car will sell regardless of the price at Barrett Jackson. (unless of course you buy it back, with premiums). Your car is very nice, and you deserve to get the best price that you can. Don't get caught up in the hype of the auction house rhetoric, and try to be as realistic as you can when establishing your expectations. A no reserve auction won't give you a second chance. Just my two cents!!! Good luck.
The practice of Chandelier Bidding, otherwise known as Buy-In bidding, Rafter bidding, Off-the-wall bidding, Consecutive bidding, Vendor bidding, or Consignor bidding, is the practice where “the auctioneer pretends to take a bid from the room in order to encourage bidding, create the appearance of demand, or to push bidding closer to the reserve price”. In other words, it’s a fake bid.Auction houses benefit from chandelier bidding because it gives the illusion of a stronger auction. Most auctions believe in the power that mood can have on the auction floor: The appearance of bids begets more bids, the appearance of passed lots begets more passed lots. According to this logic, buy-in bids actually produce a more successful auction overall by keeping spirits up on the floor. Likewise, buy-in bids can also encourage current bidders to bid past the reserve price (if bidding does not reach reserve price, the item remains unsold).
I am not an expert at the auction houses. However, I have sold at 6 different auctions with three different companies. I do believe chandelier bids do occur. However, I do not think this was the case in Las Vegas. Unless there are "plants" in the audience, it did not happen here. I was at the auction and I could see who was bidding (with the exception of the phone bidder). My question is, if it is chandelier bidding, what would they have done if I would have pulled the reserve?
I think it was a lack of crowd and bad run times. When my cars went across the block, the place was nearly empty. It was a low turnout for buyers. Perhaps this is due to the fact the auction was held the week before the Thanksgiving Holiday? I don't know. All I know, it was not a very good turnout of people.
I had four cars at this auction. Two Ford Mustangs, a Buick and the Split Window. One mustang sold but very low and the Buick sold at a reasonable price. Both were profitable but the profits were not nearly as large of margin as previous auctions. Here is my take on the auction houses (from my personal experiences):
Barrett-Jackson, while risky, will bring the highest dollar amount for sales. Barrett-Jackson does not let you pick the time or day the vehicle will run. They assess the vehicle and assign it a day and time slot. Further, Barrett-Jackson has a bigger following and runs at no reserve which brings more buyers.
Mecum, while safe by allowing a reserve, tends to get more tire kickers and buyers looking for bargains. Thus, Mecum will not bring the money Barrett-Jackson brings. However, Mecum will let you pick your day and time but the slots are offered on a first come first serve basis. Thus, you have to consign very early to get a good slot. The only Mecum auction which does not allow the seller to pick the time and day of the slot is the Monterey auction. At the Monterey auction, Mecum assess the vehicles and determines the placement.
Finally, Russo & Steele. Russo & Steele have an excellently run program. It is very organized and professional. However, Russo & Steele are lesser known and therefore have a smaller buyer crowd. A good auction to buy bargains at but not a good venue for sellers.
My take on this auction (Mecum Las Vegas) is I had bad run times. I consigned late and was placed in too early of slots and too late of slots for my four vehicles. I have sold three six figure vehicles in my auction experiences. One was a 1952 Chevy 3600 Resto-Mod (at Barrett-Jackson West Palm Beach 2018 for $121,000), one was a 1958 Chevy Apache Resto-Mod (Barrett-Jackson Las Vegas 2018 for $110,000) and a 1965 Ford Mustang Fastback Resto-Mod (Mecum Monterey 2018 for $110,000). All three had very good run times and days. Thus, in my experience, the run time and day are major factors.
Further, I think Barret-Jackson has one key marketing factor which seems to work. They offer every person who has a pass, 8 complimentary drink tickets. Thus, I think this helps loosen the wallets for some folks.
This is just my opinion and experiences I have encountered. As for the results of the Split Window bids, I think it will bring around $130k-$150k at Barrett-Jackson in Scottsdale. However, I will take the advice of many suggestions received here if it goes to Scottsdale. I am currently working on one of the low six figure offers I received from eBay. However, as folks have mentioned here, there are a lot of flaky buyers on eBay. If the buyer does not come through, I will add the headers, remove the black vinyl, etc.
One last thing I can add, I do believe different vehicles will do better at certain auctions. For example, the Monterey auctions, the European vehicles will do better there. Scottsdale, hot rods, classics and resto-mods will do well there. The Mid-West seems to be big on muscle cars. Again, these are just my experiences.
As for "real money", I think the bids were real money.
Last edited by Vintage Steel; 11-19-2018 at 02:39 AM.
11-19-2018, 02:33 AM
#226
Thank you for the input. I am currently working with a buyer on one of the six figure offers. If the buyer does not pan out, I will keep it listed on eBay for the time being, makes some changes some of the members have suggested and take it to Barrett-Jackson Scottsdale. I will keep you all posted.
11-19-2018, 03:45 AM
#227
Safety Car
It sounds like you're doing exactly what you want to. I'll leave it at that. I wish you the best of luck on your sale.
Last edited by mike coletta; 11-19-2018 at 04:49 AM.
11-19-2018, 08:24 AM
#228
Enjoy while you can.
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I have really enjoyed following this thread. Please keep us up dated and good luck.