Barrett Jackson On

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Jan 2, 2007 | 04:22 PM

#21

VetteLag00

Le Mans Master

Joined: Dec 2005

Posts: 5,490

Likes: 2

Bored with football

Jan 2, 2007 | 04:39 PM

#22

Markss

Racer

Joined: Nov 2003

Posts: 458

Likes: 8

From: Wickliffe OH

[QUOTE=abraswell;1558341248]True-all cars there are no reserve. A seller's only option would be to bid himself, in which case he pays 12% on each side of the transaction.

It is 8% on both sides of the tranaction.

Jan 2, 2007 | 05:03 PM

#23

B-ras

Melting Slicks

Joined: Dec 2004

Posts: 2,677

Likes: 0

From: I have to return some videotapes

[QUOTE=Markss;1558345165]

Quote:

Originally Posted by abraswell

True-all cars there are no reserve. A seller's only option would be to bid himself, in which case he pays 12% on each side of the transaction.

It is 8% on both sides of the tranaction.

You're right, good call. Still, not a pleasant proposition.

Jan 2, 2007 | 05:07 PM

#24

Z16 #1669

Pro

Joined: Jan 2006

Posts: 696

Likes: 0

From: Valdosta Georgia

Quote:

Originally Posted by Herringchoker

This years auction starts 1/16/07 (tues.)- 1/21/07, "The last Stingray", AKA "The last '67" is set to go on the block 1/20 (sat.) If I heard the promo right. Good inside info in current "Corvette & Chevy" trader, Proteam Corvettes would like to see $1.2M.

Pure Bull $hit is my opinion!

Jan 2, 2007 | 05:50 PM

#25

426 Hemi

Safety Car

Joined: Oct 2001

Posts: 3,599

Likes: 622

From: Coldwater MI

Quote:

Originally Posted by Z16 #1669

Pure Bull $hit is my opinion!

I always enjoy watching the rich get richer.

Jan 2, 2007 | 08:14 PM

#26

HollywoodFRC

Racer

Joined: Jan 2006

Posts: 479

Likes: 2

From: Hollywood Maryland

Hate the Day

I really dislike the whole Barrett Jackson program. Most of these cars will NEVER be driven and are only bought by a bunch of guys with more money than they know what to do with looking to make even more money. Kind of like the crazy '80s Corvette market. You see several of the cars come back to auction a year or two after being on Barrett Jackson. It's just another investment scheme among the well to do. They've created a competition among themselves to see who has the biggest ones. Kinda of like when you're a kid and trying to see who can hold their breath the longest. Unfortunately what goes on at B-J affects pricing for POTENTIAL collectables where people now want Barrett Jackson prices for POSs which need several hundred hours of restoration. These guys are buying their way into the car enthusiast game and probably could care less about the cars, what's important is that they beat the other rich dudes at the auction, not the car. Just my humble opinion. You'll never drive a $650,000.00 '71 Hemi Challenger to the market, it's too risky.

Last edited by HollywoodFRC; Jan 2, 2007 at 08:25 PM.

Jan 3, 2007 | 07:36 PM

#27

Sniper168gr

Burning Brakes

Joined: Mar 2001

Posts: 938

Likes: 16

From: North Carolina

Quote:

Originally Posted by HollywoodFRC

You'll never drive a $650,000.00 '71 Hemi Challenger to the market, it's too risky.

Especially when you consider the value of the car is largely due to the fact it has the original motor. If you happen to throw a rod during a afternoon ride, your investment just depreciated in a BIG way!