What's up with auction prices.

[js27]

I watch the 1st 2 days of the recent Mecum auction and I never realized how many pick up truck were in this country--LOL 50% of the vehicles were trucks. I only saw 3 Mopars sell in the first 2 days. I know Saturday is the high end cars  which isn't available on my in demand until April 26th. From what I saw we should be buying and restoring old Bronco's. I saw a 74 sell for $78,000.00. Right after that a beautiful 71 Challenger R/T Convertible numbers matching 383 car cold for $67,000.00. Retro rods seemed to be the hot thing this year. From what I saw a lot of people lost money on some of them because I am sure it cost more to build then what they sold for. So what did you all think ??
JS27

[ragtopdodge]

Many sellers at these auctions are dealers.

Dealers know that trucks are what's hot right now.  Especially C-10s, broncos, Jeeps, blazers, and even Scouts.

[tparker]

ACK! Don't say that. I have my eyes on a 1965 or 1966 Dodge D100. I don't need to hear how they will be out of my price range soon. LOL. The numbers for trucks do seem to be all over the map. Especially Broncos and Internationals. Any old Step side also seem to go quite high too. It's  looks like I can get a rough condition, but drivable mid to late 1960's D100 for around $6-8K. But they seem to jump straight to 15K if they are any nicer. I guess I better get on it. Now just to find one.

[HP2]

1st generation Broncos have been hot commodities for about 30 years now.  They have as much aftermarket and repop support as Mustangs and Camaros and are now heading into custom build out territory with coyote engines and more. Dynacorn has been making these bodies since around 2012.

[docmel]

Look, its all hype:   Before Mecum and Barret hit the scene, most desirable cars and trucks were way lower in price until those auctions shows hit the scene.   Then the prices went way up.   And yes, most of the cars you see do belong to dealers. 

Dont forget, there are also charges set by the auction companies that are typically 10% charged to the seller, and 10% to the buyer  So when you see a car sell, for say, 50K, , an additional 5K is charged to both seller and buyer, for a total of 60K   Myself, I think its a scam   These auction shows use allot of hype and prey on emotions to get the most they can out of commisions,  Its a business, I get it, but myself, I think its outrageous on what they charge on commissions, especially when its done both ways

If you look at Barret and Mecum  (and others)  you dont see many classic Mopars  (ie  70-71 Cuda Challengers) too much anymore because they pretty much have all been sold.  The current owners will probably wait awhile, and then resale them, hoping to make a profit.  But with the commisions being what they are, prices on these cars will most likely not go down

Heres and example.  I have a 1969 FJ40.  Yiou didnt see many of these cross the major auction show block because, frankly, they werent inm the spotlight.
Then about 2 years ago, a red one was on Mecum.  Fairly stock, looked pretty good, and it sold for 60K.  Then here locally in Co, prices magially jumpoed for FJ40s for garbage.  I mean rust buckets going for 25K and higher, when previous examples in the same poor to fair cpndition they were going for 6K or so. 

Barret and Mecum over the last few years have been running low on desirable cars/trucks that are desirable AND somewhat affordable to the average person.  So of course they start looking at other options, those being like the example already stated.  Broncos, Blazers, IH's, Power Wagons, etc, hat have been resto modded. 

So guess what:  Anyone out there that has those type of cars (or trucks) will be hot sellers, especially when resto modded

Thats not to say there are bargains that come across the stage.  I have seen SUPER truck and car examples went  for WAY less than it took to get them on the stage.  In those few cases, someone took a super loss just on labor alone  .

[Mopsquad]

The auction shows have attracted a lot of non classic car guy buyers with money.  Perhaps having a high end classic has a status that previously was viewed as a just an old noisy smelly rumbler. Also, the modernization of our cars has made them more attractive to the layman as well.  Now the demand goes up for the nice popular stuff, hence the pricing.

I can't count how many wealthy patients that I have ask me to help them buy a classic car (I have pics of my cars in my practice).  Once dedicated to the Euro sedan, they are now scooting around in very nice muscle cars.

[RUNCHARGER]

Timing is everything though. Some of these fads can be fickle. You see some cars go for way more than they're worth just because somebody liked the colour. I know some guys build cars to auction but if they take their time building the car they can be behind the trend and it doesn't work out so well.

[RzeroB]

As Docmel pointed out ... it's a business. Their there to make money ... for the seller ... and themselves. They don't make as much commission on "bargain" cars ... so their business is tailored to the more expensive cars and the people who can afford them (not you or I). There's not much room, if any at all, at these auctions for the little guy looking for a deal.

Anyone remember when Mecum first came on the scene? Dana undercut all of the other auction companies commission rate to get his foot in the door. Back then I think his commission rate was only 5% for the seller and 0 for the buyer. There were actually some reasonable deals to be had back then. Now ... forget it ... Mecum is a money making auction power house that shows no sign of letting off of the gas.

[JH27N0B]

When I started going to Mecum auctions in 2007-2008, it was free to register to bid and they had complimentary beer and snacks for registered bidders.
Now it's $200 and no beer.  You can pay $500 to be a gold level bidder, which is a year bidder pass and that gets you access to the bar for free drinks.
Dana owns one of the biggest mansions on Lake Geneva and has one or two jets.
How much money does one guy need?

[RzeroB]

When I started going to Mecum auctions in 2007-2008, it was free to register to bid and they had complimentary beer and snacks for registered bidders.
Now it's $200 and no beer.  You can pay $500 to be a gold level bidder, which is a year bidder pass and that gets you access to the bar for free drinks.
Dana owns one of the biggest mansions on Lake Geneva and has one or two jets.
How much money does one guy need?

  exactly!!