barrett jackson - PeachParts Mercedes-Benz Forum

t walgamuth · #1 01-19-2013, 11:11 PM

Tonight was the big night I suppose. I watched for an hour or so. Packard panther show car sold for $300K or so, Hudson Italia for a little more, the Chrysler show car (Dart? One of the coolest looking cars ever IMHO) Sold for $1,250K.

Winningest corvette road racer ever (1968 model) Sold for $1m. The #1 2014 Corvette sold for $1m.

But the star of the show tonight was the original Batmobile.....Biff!, Bam! Shazam!!!! sold for $4,200,000.

Yikes! I was thinking it would struggle to hit a mil.

Shows you what I know!

Mike D · #2 01-20-2013, 09:11 AM

I've been watching the auction off and on and I'm amazed at the sheer number of Cobras in the auction.

I'm disappointed with the amount of "customs" they are presenting. Not enough survivors, barn yard finds and restorations as far as I am concerned. It also seems the camera work and production has really slipped in quality. It seems more like a Meachums (sic) auction than B-J. Too much coverage of the help acting the fool and some pretty poor camera work on the walk-arounds of the cars on the block.

Oh, and I'll admit it, nowhere near enough shots of the card girls!

elchivito · #3 01-20-2013, 09:14 AM

I'm only two hours away from it but haven't been following. What channel is airing it?

Mike D · #4 01-20-2013, 09:15 AM

The "Speed" channel. 607 on DirectV.

elchivito · #5 01-20-2013, 09:35 AM

Quote:

Originally Posted by Mike D

The "Speed" channel. 607 on DirectV.

thanks!

barry12345 · #6 01-20-2013, 09:37 AM

Maybe it's bettter most us members do mot deal in the price range some of these cars are bringing. I have heard some stories of how prices may be manuipulated upwards by dealers in antique and collectable cars. The auction houses would have to be involved if true though.

gatorblue92 · #7 01-20-2013, 10:19 AM

I turned it on right as the Batmobile rolled on. That was pretty crazy.

Benz Dr. · #8 01-21-2013, 03:14 PM

I've met George Barris and the real Batmobile is a piece of junk.

What you don't get at BJ or speed coverage in general is all the sneaky stuff going on behind the smoke and mirrors. BJ likes everyone to believe that everything is on the up and up. It is to a certain level, but they do some things that end up inflating the preceptions of the buying public.

They add 10% to the sale price of every car sold. This 10% is the commission paid by the buyer over and above the auctio price. While not illegal to do so, it is rather deceptive. It adds 10% to the value of every car and next year's seller expects to get that regardless of the realities.

There is no mention of the 30% or more of cars that are bought back by the selling owners. You will only see shots of happy people buying a car and not the pissed off owners who just handed over a pile of money to BJ and got nothing in return. Since all but a hand full of cars that go through BJ are sold at no reserve, you can expect this, but it's still a bone of contention that gets zero air play.
A 100K car only goes to 28K so the owner buys it back. He owes BJ $2,800.00 plus any consignment fees. While better than giving it away, it's still an exspensive deal for any owner.
I've seen more than a few auctions where the house has their buyers hanging out in the audience bidding up cars or snaping up the better priced ones. It's a game for shills.......

The Swede · #9 01-21-2013, 03:17 PM

They sold that JFK ambulance last year, which was a crock of sheat.

Slime bags.

elchivito · #10 01-21-2013, 03:21 PM

Quote:

Originally Posted by Benz Dr.

I've met George Barris and the real Batmobile is a piece of junk.

What you don't get at BJ or speed coverage in general is all the sneaky stuff going on behind the smoke and mirrors. BJ likes everyone to believe that everything is on the up and up. It is to a certain level, but they do some things that end up inflating the preceptions of the buying public.

They add 10% to the sale price of every car sold. This 10% is the commission paid by the buyer over and above the auctio price. While not illegal to do so, it is rather deceptive. It adds 10% to the value of every car and next year's seller expects to get that regardless of the realities.

There is no mention of the 30% or more of cars that are bought back by the selling owners. You will only see shots of happy people buying a car and not the pissed off owners who just handed over a pile of money to BJ and got nothing in return. Since all but a hand full of cars that go through BJ are sold at no reserve, you can expect this, but it's still a bone of contention that gets zero air play.
A 100K car only goes to 28K so the owner buys it back. He owes BJ $2,800.00 plus any consignment fees. While better than giving it away, it's still an exspensive deal for any owner.
I've seen more than a few auctions where the house has their buyers hanging out in the audience bidding up cars or snaping up the better priced ones. It's a game for shills.......

Are any of these things unknown by or not disclosed to consigners and buyers prior to the sale?
Given the popularity of these auctions, there where how many, 6 going on at once?... I'd say there are either a whole lot of rich people being hoodwinked or else a whole lot of rich people who are willing to play by the rules.

MTI · #11 01-21-2013, 03:42 PM

Quote:

Originally Posted by Benz Dr.

I've met George Barris and the real Batmobile is a piece of junk.

What you don't get at BJ or speed coverage in general is all the sneaky stuff going on behind the smoke and mirrors. BJ likes everyone to believe that everything is on the up and up. It is to a certain level, but they do some things that end up inflating the preceptions of the buying public.

They add 10% to the sale price of every car sold. This 10% is the commission paid by the buyer over and above the auctio price. While not illegal to do so, it is rather deceptive. It adds 10% to the value of every car and next year's seller expects to get that regardless of the realities.

There is no mention of the 30% or more of cars that are bought back by the selling owners. You will only see shots of happy people buying a car and not the pissed off owners who just handed over a pile of money to BJ and got nothing in return. Since all but a hand full of cars that go through BJ are sold at no reserve, you can expect this, but it's still a bone of contention that gets zero air play.
A 100K car only goes to 28K so the owner buys it back. He owes BJ $2,800.00 plus any consignment fees. While better than giving it away, it's still an exspensive deal for any owner.
I've seen more than a few auctions where the house has their buyers hanging out in the audience bidding up cars or snaping up the better priced ones. It's a game for shills.......

All of the financial details are in the bidders package. Not everyone who shows up is a bidder, there's quite the pre-qualification process before getting your credentials

t walgamuth · #12 01-21-2013, 03:44 PM

I have to say that an auction is in large part a form of expensive entertainment. If these rich folk were not taking chances here at the auction they would be betting on football or playing high stakes poker, or investing in risky stocks.

That is not to say there are not serious buyers at them. I watched Rick Hendricks buy two corvettes in a row for his personal collection. Jeff Gordon was sitting next to him. There are some cars which come up at auction and there is no other way to get them. A huge number of valuable cars though sell without anyone ever knowing they were for sale. IE would you want anyone to know you just paid $34 million for one of 36 Ferrari GTO's?

I have never bought at an auction but I have paid my admission fee to partake of the overpriced food and entertainment. There are always interesting cars to look at and estimate what they will sell for. The holding areas before the block and after are always full of well shined cars which you can walk up to and peer inside. Its kindof like the worlds biggest cruise in.

One of my strongest images is of a lovely robins egg blue 53 Buick Riviera coming off the auction block and heading back to the holding area when the right front wheel came off, spindle and all!

I went to Auburn in the fall for about 25 or 30 years in a row but have not gone since I started autocrossing.

LaughingGravy · #13 01-21-2013, 04:14 PM

Quote:

Originally Posted by Benz Dr.

I've met George Barris and the real Batmobile is a piece of junk.

I was actually wondering about that. Ever since the car was announced to be auctioned, I have only seen pics of it being pushed on and off trailers. It kind of makes me wonder how road worthy the car really is.
If I pay 4. x million for a car, I would like to think I could drive it and stop using the brakes.
Then again, it's probably like an expensive anything...if you have to ask, you probably can't afford (to have it fixed to working condition).

TylerH860 · #14 01-21-2013, 05:57 PM

I've gone to BJ 5+ times. The first was in 2006, last 2011. Was there for the ups and the big downs after 2007.

They don't need the buyers to shill their own cars. The auctioneer will do it for them if you're buddies with Craig Jackson. Happens at every auction. Fake phone bidder or somesuch.

Mecum is even worse. Gooding does it too, but they usually have such special cars that they don't need to. All you have to do is watch they eyes of the auctioneer and see who they are looking at.

If you really want to see shady, tag along with me to the local dealer auction some time.

Depending on the week I call it "the turd hunt" or "Another episode of Moron Theater". Tons of junk cars with idiots paying so much money they can never hope to turn a profit. Just when that moron runs out of money, there are 2 more to replace him.

When I purchased my ML430 at auction they tried it with me. He was pointing at a second bidder and he wasn't even facing the car. When I called him out on it, the aucitoneer said he was trying to help me get in the car. Walked away and negotiated a deal with the wholesaler after the sale.

Stoney · #15 01-22-2013, 07:28 AM

I was up at the Eastern States Auction in Orange county this summer with a buddy and saw the "Bids off the Clouds" going on with every sale where there were non dealers as the majority of bidders.
I also saw bids ignored when it was obvious that a deal had been struck pre sale for the car to go to a certain party.
There was this Latino guy who was absolutely LIVID when the auctioneer ignored him repeatedly on several late model GM cars and he finally threw a full soda can at him before storming off!
The worst part was the "auction finance" people who were available to loan out cash to "unregistered" parties (IE CASH buyers) at interest rates that would make Don Corleone and Arnold Rothstein blush! The average pricer was 25% for a 72 hour "loan"!