Challenger T/A Barrett Jackson

[LoStHeMi]

https://barrett-jackson.com/Events/Event/Details/1970-DODGE-CHALLENGER-TA-259011

[Bossgold]

Last place I'll ever go is to pay money buyer premiums to buy a classic - ever

[cuda hunter]

I don't understand how people bid on something of this stature without a fender tag readout? Or a build sheet readout?  Or pictures of 4 stamps.  Or documentation.
  Do rich guys, just assume everything is in order since it's expensive?  OR do rich guys just buy whatever as it doesn't matter if they over paid by 20K since they just have so much money?

Lost on me. 

[JH27N0B]

I think you are making a lot of assumptions there. Have you been to any auctions and checked out how things work at them?
Most bidders attend the events in person rather than bid remotely, so they do inspect the cars there rather than just bid based on a few glossy professional photos like we are checking out in the listing.  Often times cars on display at auctions will have paperwork or copies of paperwork like broadcast sheets etc displayed on the dashboard.
And of course the fender tag and body numbers can be looked at when you are personally checking out the cars.  When I went to Indy Mecum last month, a member here who is a friend of mine asked me to inspect a cuda convertible there.  He was suspicious of some things about it, so I took a bunch of pictures of the fender tag, cowl and radiator support numbers etc to send him.  He wasn't contemplating buying it, he was just suspicious and wanted to see the tag, which he said was made up after I provided him the picture.
Someone did end up buying the car at the auction for over $200K, so apparently some people with more money than sense do bid on cars!
Funny thing at Indy, there was a butterscotch hemi cuda slated for the auction that wasn't there when I visited.  It had been discussed on the forums and a lot of people were calling it out for being very sketchy.  Apparently the scorn heaped on it before the auction led to it being withdrawn?
What is more, there are experts available for hire who inspect cars at auctions and give reports to the clients about their prospective auction purchases.  I do not know what they charge but I am sure they are not cheap, and their services are surely well worth the money to prevent sophisticated high end bidders from making an expensive mistake.
I used to see Galen Govier wandering around at Mecum auctions looking at cars, but haven't seen him at recent years.
I did meet a inspector a few years ago who is fairly well known, when a collector hired him to travel here to evaluate a car of mine for possible purchase.  I think his name was Chick.
He had some interesting stories and I wish I could have sat down with him over dinner and some drinks as I bet he could talk for hours on cars and car people he has been involved with over the years.
One story he did tell was about a recent auction he had attended in Florida with a list of cars to inspect for clients who were prospective bidders.
He said he looked at 6 GM cars, I do not recall the details of exactly what cars they were, but after inspecting them at the auction, he invited the clients all to dinner that evening.  When they all arrived, he said "Hey everyone, I have bad news for all of you, every one of the cars you had me look at is phony!"
That is pretty scary. But I am sure each of his clients felt the money they had paid him for his services were well worth every penny!
Another story he told, was how years ago he used to travel out west often and buy rust free cars he'd then bring back east to flip.  One day he recognized a Malibu he'd brought back 20 years ago as an offering at an auction.  But now it was a Chevelle SS!  He informed the auction officials, but they basically told him to pound sand.
He called his wife and had her pull his files.  Fortunately he kept good records of all the cars he'd flipped over the years, and she found the paperwork for that Malibu. She faxed it out to him, he took the records back to the auction officials, and then they pulled the phony car from their auction.
I am sure some rich guys get stupid and throw a lot of money at cars at auctions without doing their homework and many get burned, but most are far more sophisticated and put the time and money into doing their homework before taking the plunge.  Some people who are idiots do manage to get rich, like most professional athletes and TV, movie and singers, but most successful people who got rich are pretty smart and shrewd and do things like buy vintage cars with a lot of legwork first, not on a whim.
And anyone interested in buying a car at an auction or anywhere for that matter should do the same!

[anlauto]

There's also the person who likes a car because it's cool and could care less about numbers 

[cuda hunter]

Well, I do understand what your stating.  I wasn't talking crap, mostly wondering how and why.

Thanks for the response.

[JH27N0B]

I wasn't meaning to bust balls so I'm sorry if I came across as doing that.  I am just giving some insight from my own experience.  I have been attending Mecum auctions for many years, over 15 at least.  I bought one of my cars at a Mecum auction and was registered to bid at a few others, though only ended up with a car that one time.  And I've met a lot of collectors and all, so I've learned a bit along the way.
I still don't get how some things work or why.  And I question sometimes why a number of high end cars even end up going through auctions in the first place and not sold privately among the small fraternity of the top collectors.
Greg Nelson of Mopar Ponderosa has been in the high end Mopar business for many years, why would he list cars at auction like the '71 hemi cuda in a different thread here, rather than sell them himself and avoid the fees and premiums? 
In some cases, I think the auction houses cut deals with high end guys to have their cars at an auction to create a lot of publicity and bring people into the auction, not just as bidders but as spectators.  A local collector here, Tom Lembeck, listed about a half dozen of his cars at Mecum Kissimmee a few years ago and not a single one sold.  Did Mecum offer to put them in the auction for no cost and even transport them for Tom, just because they were high end hemi and wing cars that would generate excitement?
Then last year, Tom had 4 or 5 cars at Mecum Indy, including his export hemi cuda convertible that I would think would be the pinnacle of his collection, and the last car he'd ever sell.
Only his survivor '71 hemi Challenger got sold, and it went very high.
Something more going on then him getting out of the hobby or trying to raise cash for something else.
But what is the inside scoop?  I haven't figured it out.
Cudino here is a member of the small fraternity, maybe he'd be one to share some of the behind the scenes.

[Mopsquad]

I'd love to see a 20/20 style expose on these classic car auctions.  Beyond the solo layman buyer, these auctions bring a sophisticated network of people.   They know how to work in these environments with shill bidding, plants and other deceptive bidding practices that can make it difficult for the typical buyer to get the car they like at a price that's not inflated.