Some of you may remember the furor caused on the internet several years a go when a 1963 Tempest was naively put up for auction on Ebay and eventually sold in an almost scrap condition for $226,000. Well, the completed car is going up for auction at the Russo and Steele auction across the street from Barrett Jackson in Scottsdale. Will the consignor recoup his money?
Bin watching, tonight seems to be vett night.There was a cool clone of The Little Coffin went thru and lots of tri 5s.Who are all those people on stage and who is the dude with the pony tail and checkerd shirt that seems to have his nose stuck in every car tonight. Ed
A rotissere 67 Vette 435hp L71 Tri Power 427 4 speed went through for $82,000
a few years ago that car would have gone through for well over $200k, times have changed.
Ya I guess the 300k one came with Susanne Sommers in the passenger seat for that price.Funny how allthe cars they feature are over 80k yet we can't sell anything here for 20k.Hell I'm still trying to sell a good car for under 5k and getting no bites.This is the first time I have watched anything like this but I smell a rat. Ed
Couple of years ago a friend attended/spectated at BJ....when I asked what he thought , he simply said " drunk millionaires " . I have to think this is just a game to a lot of these buyers .
Couple of years ago a friend attended/spectated at BJ....when I asked what he thought , he simply said " drunk millionaires " . I have to think this is just a game to a lot of these buyers .
I'd like to know how this whole deal became so popular? Isn't it 8% each from both the buyer and seller? Not to mention a fee collected from everyone of those registered to bid! There isn't a ton of overhead, what with the buildings being pop up tents! Heck, this is the first year they've had real washrooms! What little overhead there is is surely offset by the huge sponsorships like 'Speed' and 'Ford'. Quite a racket from what I can see! Hell, even Wally World has to buy all the "product" they sell...even if it's from China. No wonder Craig has such an expensive collection and a nice place to keep them!!!
Am I jealous? YOU BET! I'm not sure how well I'd sleep at night though, taking all that money!
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"If I could get back all the money I've ever spent on cars...I'd spend it ALL on cars !!!
I've been wondering for years what the value of all these cars will be in 25 years or maybe even less. If there is nobody around with an emotional or nostalgic connection to these cars will they sell for comparable prices.
I have also been told it is a great way to launder money as there are no questions asked. Not saying everyone does it but they do say it happens regularly. Perhaps the rest really are wealthy and some even may be drinking ...lol
Wow! I just looked up the premiums for the big show -Huge!!!
$500 fee just for the privilege of spending your own money! Plus, if you want to bring your Honey Bunch or a pal that will cost you too!
Guest Pass: $150.00 per person
Gala Tickets: $175.00 (Admits two guests)
To sell a vehicle at Barrett-Jackson, the Consignor is responsible for an entry fee as well as a Seller's commission of 8% of the hammer price for No Reserve consignments or 10% of the hammer price for Reserve consignments. The entry fee is determined by day and time of your Lot entry and includes tent space. Payment of fees without a signed contract does not constitute a consignment agreement.
So the L88 '67 'Vette which sold for $3,850,000.00 netted them:
$500 from the bidder's packet,
At least $500 from the seller's packet (price changes by time and date premiums)
10% from the buyer = $385,000
8% from the seller = $308,000
For a sub total of $694,000!!! I say sub total because there is no way to know how much the buyer and seller and their guests spent on food, beverages, booze and souvenirs in a week. ONE CAR!!!
No wonder these guys are always smiling and rubbing their hands together - evil I say!
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"If I could get back all the money I've ever spent on cars...I'd spend it ALL on cars !!!
It's getting to be a religion .....car version of the old PTL Club only without Jim and Tammy Faye .......used to be one of my all time favourite comedies to watch except it was supposed to be serious .
Guess I won't be going to B.J. !
I "heard' from a source that has to do with the trucking of the cars to the auction that some cars that are "hammered" SOLD!!! are taken back to the same driveway they were picked up at ???? So "maybe' there is a "RAT" thats smelling????
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I can only please one person a day, Today is not your day!!Tomorrow doesn't look good either !!!!
Knew a guy that took a couple of cars to auction but when they didn't sell for what he wanted, he ended up buying them back himself. Still had to pay commissions on both ends but was still better then the bath he was going to take on the "unreserved' system Barrett Jackson runs. Apparently this happens quite often. They still make their money.