A month to go, these are consigned as of today.
https://www.mecum.com/lots/FL0118-313045/1970-plymouth-hemi-cuda/
https://www.mecum.com/lots/FL0118-321562/1970-dodge-challenger-rt-convertible/
https://www.mecum.com/lots/FL0118-322139/1970-plymouth-cuda/
https://www.mecum.com/lots/FL0118-321537/1970-plymouth-cuda/
https://www.mecum.com/lots/FL0118-312919/1970-dodge-challenger/
https://www.mecum.com/lots/FL0118-312157/1971-dodge-challenger-convertible/
https://www.mecum.com/lots/FL0118-322079/1970-plymouth-cuda/
https://www.mecum.com/lots/FL0118-312515/1970-plymouth-cuda/
https://www.mecum.com/lots/FL0118-312678/1970-plymouth-hemi-cuda/
https://www.mecum.com/lots/FL0118-312526/the-1970-e-body-pilot-car-offering/
https://www.mecum.com/lots/FL0118-312548/1970-plymouth-hemi-cuda/
https://www.mecum.com/lots/FL0118-312706/1970-plymouth-aar-cuda/
https://www.mecum.com/lots/FL0118-312118/1972-plymouth-cuda/
https://www.mecum.com/lots/FL0118-312270/1970-dodge-challenger-rt/
https://www.mecum.com/lots/FL0118-312225/1971-dodge-challenger-convertible/
https://www.mecum.com/lots/FL0118-312269/1970-plymouth-cuda/
https://www.mecum.com/lots/FL0118-322089/1971-plymouth-cuda/
https://www.mecum.com/lots/FL0118-321369/1973-plymouth-cuda/
https://www.mecum.com/lots/FL0118-310919/1971-dodge-challenger-convertible/
WOW four convertibles and they are all challengers! Interesting! :unbelievable:
Getting out before the bottom falls out.
:popcorn:
Quote from: Spikedog08 on December 06, 2017, 08:27:41 AM
WOW four convertibles and they are all challengers! Interesting! :unbelievable:
Actually a 71 Cuda vert, third from the bottom. https://www.mecum.com/lots/FL0118-322089/1971-plymouth-cuda/
& a 440+6 '70 'cuda 'vert in the PILOT 2 for 1 offering
https://www.mecum.com/lots/FL0118-312526/the-1970-e-body-pilot-car-offering/
Quote from: Roadman on December 06, 2017, 11:20:14 AM
Quote from: Spikedog08 on December 06, 2017, 08:27:41 AM
WOW four convertibles and they are all challengers! Interesting! :unbelievable:
Actually a 71 Cuda vert, third from the bottom. https://www.mecum.com/lots/FL0118-322089/1971-plymouth-cuda/
Yikes...that "silver" billboard looks as little out of place :barf:
The nicest one is mine!
Quote from: Roadman on December 06, 2017, 03:55:58 PM
Quote from: RzeroB on December 06, 2017, 03:20:47 PM
I actually like that red 383 auto '71 Chally 'vert. https://www.mecum.com/lots/FL0118-312225/1971-dodge-challenger-convertible/ (https://www.mecum.com/lots/FL0118-312225/1971-dodge-challenger-convertible/)
I'm actually going to be in Orlando from Dec 29th thru Jan 5th - doing the Disney thing. I'm tempted to delay my return flight a couple of days so that I can go check this out. :takealook:
Hey Roadman, how does this auction work? Are the cars available in the pre-block inspection area only on the day that they are scheduled to go across the block? Or are they available to see days before they are scheduled? I can't spend a whole extra week there, but I could do an extra couple of days. :thinking:
Looks like a party. :veryexcited:
Check in for auction cars is Jan 2-4. However, lately the big money cars trickle in later. The place is huge, all cars that have arrived by the day you are there on full display. Let me know if you plan to attend, like to meet for breakfast and spend the day at the auction. Anybody else coming, let me know.
Wow - isn't that something! So what happened - why didn't it wind up in your garage? Found the "show poodle" and bought that one instead?
Nope, actually he changed his mind, he did that quite a few times... Two other times to me, once for parts & once for a U code 4spd R/T SE... And a few times to other Mopar guys in the area.... Honestly I think my Challenger is more fun, the Promo Challenger is rare and valuable , it would have been a great investment... but I like to drive my cars & while investment value is nice it also means frequent driving isn't gonna happen....
The deal on the Promo car was around 87... I picked up a 6 cylinder vert around 91 & the car I jokingly refer to as a "show poodle" I picked up in 95...
Quote from: anlauto on December 06, 2017, 11:51:16 AM
Quote from: Roadman on December 06, 2017, 11:20:14 AM
Quote from: Spikedog08 on December 06, 2017, 08:27:41 AM
WOW four convertibles and they are all challengers! Interesting! :unbelievable:
Actually a 71 Cuda vert, third from the bottom. https://www.mecum.com/lots/FL0118-322089/1971-plymouth-cuda/
Yikes...that "silver" billboard looks as little out of place :barf:
Looks more like a Pastel Gray color to me. but I agree on the.... :barf:
Gator Grain T/A https://www.mecum.com/lots/FL0118-319906/1970-dodge-challenger-ta/
That gator grain T/A was sold at Mecum in Dallas a few months ago. It was part of a collection sold there that I think we discussed here.
It's always interesting to see so many cars sold at recent auctions show up at subsequent auctions. Do the sales fall through for some reason? Was the car someway misrepresented? Was the car misreported as sold to make the auction seem more successful than it really was? It strikes me as suspicious.
Quote from: JH27N0B on December 09, 2017, 03:11:11 PM
That gator grain T/A was sold at Mecum in Dallas a few months ago. It was part of a collection sold there that I think we discussed here.
It's always interesting to see so many cars sold at recent auctions show up at subsequent auctions. Do the sales fall through for some reason? Was the car someway misrepresented? Was the car misreported as sold to make the auction seem more successful than it really was? It strikes me as suspicious.
I've been watching it happen for years, the high rollers flipping cars. Lots of times I see cars sold in smaller auctions show up in Kissimmee. I believe all sales are final, no turning back.
Quote from: whitsend on December 07, 2017, 02:09:13 PM
Quote from: anlauto on December 06, 2017, 11:51:16 AM
Quote from: Roadman on December 06, 2017, 11:20:14 AM
Quote from: Spikedog08 on December 06, 2017, 08:27:41 AM
WOW four convertibles and they are all challengers! Interesting! :unbelievable:
Actually a 71 Cuda vert, third from the bottom. https://www.mecum.com/lots/FL0118-322089/1971-plymouth-cuda/
Yikes...that "silver" billboard looks as little out of place :barf:
Looks more like a Pastel Gray color to me. but I agree on the.... :barf:
Just got back from Florida today. Went to the Mecum auction on Saturday and I saw this car up close and personal. In actuality, the more I looked at it in person, the more the "subdued" gray billboard grew on me. Billboards that contrast sharply with the color of the car were (are) bold, in-your-face, almost garish, design statements. The subdued gray billboards on this car don't "slap you in the face" as much as, say a white one would. It grew on me ... I kind of like it.
Quote from: JH27N0B on December 09, 2017, 03:11:11 PM
That gator grain T/A was sold at Mecum in Dallas a few months ago. It was part of a collection sold there that I think we discussed here.
It's always interesting to see so many cars sold at recent auctions show up at subsequent auctions. Do the sales fall through for some reason? Was the car someway misrepresented? Was the car misreported as sold to make the auction seem more successful than it really was? It strikes me as suspicious.
I saw this car on Saturday too. I don't know if there is any subterfuge going on with it, but it is a very attractive car through and through. I really liked the EB3 color being that there are not dozens of others in the same color. And the V1G top, to me is still unusual, and garners a certain kind of appeal just because of it being different. Without a doubt, this is a very pretty car.
It's usually a pretty good place to walk around and check out some cool cars.
I'm going on the 13th with my dad & my wife.
Sold, $39,600.00 https://www.mecum.com/lots/FL0118-321369/1973-plymouth-cuda/
Sold, $112,500.00 https://www.mecum.com/lots/FL0118-322089/1971-plymouth-cuda/
That's good money for both those cars, :bigthumb:
Just a note, my prices don't include the buyer premium.
Sold, $17,600.00 https://www.mecum.com/lots/FL0118-325189/1972-dodge-challenger/
My younger sister and brother-in-law went down last weekend but unfortunately bought a Mustang convertible not a Mopar. :dunno: They invited me to join them but as usual no money or vacation time as the company I work for just got sold.
SOLD, $130,000.00 https://www.mecum.com/lots/FL0118-312270/1970-dodge-challenger-rt/
SOLD--------------- $62,000.00 https://www.mecum.com/lots/FL0118-312225/1971-dodge-challenger-convertible/
Is anyone going to the Old Town car show & cruise in Kissimmee Saturday night?
https://myoldtownusa.com/events/saturday-nite-classic-car-show-cruise/
Quote from: Roadman on January 11, 2018, 12:34:04 PM
SOLD--------------- $62,000.00 https://www.mecum.com/lots/FL0118-312225/1971-dodge-challenger-convertible/
I reeeaaalllyyyy liked that car!! :drooling:
Quote from: cataclysm80 on January 11, 2018, 12:34:32 PM
Is anyone going to the Old Town car show & cruise in Kissimmee Saturday night?
https://myoldtownusa.com/events/saturday-nite-classic-car-show-cruise/
When my eyes first glanced over the url address I thought it said ...
moldy townusa ... and I was like "eewww!!" :haha:
Quote from: cataclysm80 on January 11, 2018, 12:34:32 PM
Is anyone going to the Old Town car show & cruise in Kissimmee Saturday night?
https://myoldtownusa.com/events/saturday-nite-classic-car-show-cruise/
Used to go to Old Town often, but when it changed owners the new owners pi$$ed off a lot of the old timers that went very week. I haven't been back since.
SOLD-------------- $93,500.00 https://www.mecum.com/lots/FL0118-312269/1970-plymouth-cuda/
Quote from: Roadman on January 11, 2018, 12:19:20 PM
SOLD, $130,000.00 https://www.mecum.com/lots/FL0118-312270/1970-dodge-challenger-rt/
$300,000 invested is an oxymoron. with a $130,000 selling price.
I'm sure the hours were put in at the custom shop BUT that engine comp't is not tasteful. WAYYY too much shine and glitz. For that kind of money, I'd expect custom touches, not a Summit catalog parts list.
Quote from: Roadman on January 11, 2018, 02:48:22 PM
SOLD-------------- $93,500.00 https://www.mecum.com/lots/FL0118-312269/1970-plymouth-cuda/
Wow! With buyers fee that is over $100,000 for a U code auto!
Quote from: 750-h2 on January 11, 2018, 03:42:12 PM
Quote from: Roadman on January 11, 2018, 02:48:22 PM
SOLD-------------- $93,500.00 https://www.mecum.com/lots/FL0118-312269/1970-plymouth-cuda/
Wow! With buyers fee that is over $100,000 for a U code auto!
Yea, E Bodies are going wild. :clapping: :yes:
Hmm: I would have spent that money differently but different strokes for different folks.
SOLD, $71,500.00 https://www.mecum.com/lots/FL0118-312157/1971-dodge-challenger-rt-convertible/
New Demon, 10 miles-----------------------Sold $135,000.00 https://www.mecum.com/lots/FL0118-325310/2018-dodge-challenger-srt-demon/
Quote from: Roadman on January 12, 2018, 09:07:26 AM
SOLD, $71,500.00 https://www.mecum.com/lots/FL0118-312157/1971-dodge-challenger-rt-convertible/
I doubt that was a U code car? If it was that was a good deal!
Quote from: 750-h2 on January 12, 2018, 09:49:17 AM
Quote from: Roadman on January 12, 2018, 09:07:26 AM
SOLD, $71,500.00 https://www.mecum.com/lots/FL0118-312157/1971-dodge-challenger-rt-convertible/
I doubt that was a U code car? If it was that was a good deal!
No "U" codes in 1971 so that's a pretty safe bet :drinkingbud:
No JS27's in 71 ether!!! :foul: No U code E-body's in 71.
Quote from: anlauto on January 12, 2018, 09:51:26 AM
Quote from: 750-h2 on January 12, 2018, 09:49:17 AM
Quote from: Roadman on January 12, 2018, 09:07:26 AM
SOLD, $71,500.00 https://www.mecum.com/lots/FL0118-312157/1971-dodge-challenger-rt-convertible/
I doubt that was a U code car? If it was that was a good deal!
No "U" codes in 1971 so that's a pretty safe bet :drinkingbud:
That's right , biggest cubes in converts was 383.
Quote from: JS29 on January 12, 2018, 10:06:30 AM
No U code E-body's in 71.
I always wondered why that was?? They still had the R and V codes that year ... but no U codes?? Wonder why "corporate" decided on that??
Bid up to $100K, bid goes on. https://www.mecum.com/lots/FL0118-312515/1970-plymouth-cuda/
-----------SOLD--------------$190K https://www.mecum.com/lots/FL0118-312678/1970-plymouth-hemi-cuda/
----------------- $850K, Bid goes on. https://www.mecum.com/lots/FL0118-312526/the-1970-e-body-pilot-car-offering/
Quote from: Roadman on January 12, 2018, 01:06:56 PM
----------------- $850K, Bid goes on. https://www.mecum.com/lots/FL0118-312526/the-1970-e-body-pilot-car-offering/
Pretty strong money to turn down :alan2cents: Was $850K each or the pair ?
Quote from: anlauto on January 12, 2018, 01:12:37 PM
Quote from: Roadman on January 12, 2018, 01:06:56 PM
----------------- $850K, Bid goes on. https://www.mecum.com/lots/FL0118-312526/the-1970-e-body-pilot-car-offering/
Pretty strong money to turn down :alan2cents: Was $850K each or the pair ?
Both of them. Jumped to $850 relatively quickly then stalled.
------------------- $300K, bid goes on------------------https://www.mecum.com/lots/FL0118-312548/1970-plymouth-hemi-cuda/
Quote from: Roadman on January 12, 2018, 01:28:19 PM
------------------- $300K, bid goes on------------------https://www.mecum.com/lots/FL0118-312548/1970-plymouth-hemi-cuda/
Strong $$$$ and still NO SALE!!
SOLD------------ $79,200.00 https://www.mecum.com/lots/FL0118-319906/1970-dodge-challenger-ta/
SOLD $86,900.00 https://www.mecum.com/lots/FL0118-312836/1971-plymouth-cuda/
SOLD-------------------- $77K------------------ https://www.mecum.com/lots/FL0118-321562/1970-dodge-challenger-convertible/
$300K, no sale, bid goes on. https://www.mecum.com/lots/FL0118-322139/1970-plymouth-hemi-cuda/
Sold--------------- $47,300.00----------------https://www.mecum.com/lots/FL0118-321537/1970-plymouth-cuda/
--------------- SOLD---------------$205K---------------- https://www.mecum.com/lots/FL0118-313045/1970-plymouth-hemi-cuda/
Sounds like a lot of fun! Hope that Murray fella and Bigs are not leading you "astray" :ohyeah:
How are some of the quality of the Hemi E-Bodies? The prices seem all over the place. Is it a condition thing?
Quote from: Brads70 on January 13, 2018, 12:41:24 PM
Sounds like a lot of fun! Hope that Murray fella and Bigs are not leading you "astray" :ohyeah:
we had breakfast yesterday and today, Bigs is a real character :haha: Great seeing them and spending some time. :grouphug:
Quote from: Cuda Cody on January 13, 2018, 12:44:44 PM
How are some of the quality of the Hemi E-Bodies? The prices seem all over the place. Is it a condition thing?
I didn't get to see the cars this year, but
@RzeroB (https://forum.e-bodies.org/mlist/rzerob_126) went, he should be able to weigh in .
I like the Vit C Hemi Cuda, price seems about right to me without seeing it?
Quote from: Roadman on January 13, 2018, 12:56:18 PM
Quote from: Brads70 on January 13, 2018, 12:41:24 PM
Sounds like a lot of fun! Hope that Murray fella and Bigs are not leading you "astray" :ohyeah:
we had breakfast yesterday and today, Bigs is a real character :haha: Great seeing them and spending some time. :grouphug:
Hey I've been called a whole lot worse !! :haha: I must say this has been very theraputic for me. Meet some great prople , now I can put a name and face to a handle! Mark thank you again for the wiring kit :ohyeah: Murray and I hit a car show / swap meet today and a brew pub (go figure). Tonight hang out at old town. Then back to the COLD tomorrow :Thud:
Quote from: Roadman on January 13, 2018, 08:22:50 AM
SOLD $86,900.00 https://www.mecum.com/lots/FL0118-312836/1971-plymouth-cuda/
happy too see the 340 shaker car bring that kind of money!
I was there and really could not understand the prices. Some lower quality cars brought more than they should have and a better car would do nothing. Made no sense to me. White U code, auto car sure brought a lot. The 71 340 also.
This looks to be an interesting Challenger convertible up for auction today.
https://www.mecum.com/lots/FL0118-321757/1970-dodge-challenger/
Too bad not much info given and only one picture. Obviously some mods, but I wonder if it still has the /6 and 3 speed stick?
A rare one indeed, I bet only a handful still exist in the world that haven't been cloned into yet another hemi or big block hemi R/T.
Quote from: JH27N0B on January 14, 2018, 08:49:27 AM
This looks to be an interesting Challenger convertible up for auction today.
https://www.mecum.com/lots/FL0118-321757/1970-dodge-challenger/
Too bad not much info given and only one picture. Obviously some mods, but I wonder if it still has the /6 and 3 speed stick?
A rare one indeed, I bet only a handful still exist in the world that haven't been cloned into yet another hemi or big block hemi R/T.
Claims it has original /6
I see it sold today for $45,100, which would be $41,000 +buyers premium. Seems like fairly strong money for a /6 car! That's around what some around here said my N code vert is worth. :drunk:
I hope they keep it a original /6 3 speed and enjoy being the only one most people will ever see, but I have a feeling next time it pops up it will be FM3 or FC7 with a crate hemi and a shaker. Oh well.
Quote from: Roadman on January 13, 2018, 12:58:34 PM
Quote from: Cuda Cody on January 13, 2018, 12:44:44 PM
How are some of the quality of the Hemi E-Bodies? The prices seem all over the place. Is it a condition thing?
I didn't get to see the cars this year, but @RzeroB (https://forum.e-bodies.org/mlist/rzerob_126) went, he should be able to weigh in .
Though I am a huge fan of these cars, I'm far from being an expert on the little details that seems to have a significant influence on the final price.
For example, Nick Smith's TX9 car might have been perceived as being the most desirable HemiCuda there being that it is a black-on-black 4-speed car. Black shows every little flaw, but the finish on this car was absolutely beautiful. It is a great looking car ... but it had a non-numbers engine in it with some mods (headers, etc) and that reflected in the final price.
Then you have the three other HemiCuda's that were there - the FE5, EK2 and EB5 cars. All numbers matching, all 4-speeds, all "restored to OE specifications", all relatively equal and you would expect them to be near each other in price.
From what I could see of it, Wayne Schmeeckle's EB5 car was exceptional. I imagine it's "pedigree" being that it is fully documented, low miles, restored by Roger Gibson, and coming out of Schmeeckle's collection had a lot to do with pushing it's reserve up and making it a no-sale at $300K.
Then there is the EK2 car. It has a great "pedigree" too in that it is also fully documented, has very low miles, and has an older, but very nice restoration on it. I don't recall who did the restoration on it, or who the owner is - could "name recognition" have something to do with it? I don't know. This car "presented" very well but there are some things when you look around the engine bay (battery, master cylinder, blower motor, etc). The interesting thing is that the owner acquired the car four years ago at this very same auction in 2014 for $240K, so it's surprising that at this auction it was let go for $205K. I don't know ... maybe the owner just needed to get out of it for some reason??
Then there is the FE5 car. It also a great "pedigree" in that it is also fully documented but has more miles than either the EB5 or EK2 car. The car has a very nice recent restoration on it, the A22 bumpers were added and the car "presents" very well too. Like the EK2 car, I don't recall who did the restoration on it, or who the owner is (but I think it is represented by Rich Pankz and his Collector-Car-Connection?), but none of that seemed to have an impact on the bidding for this car as it ran up to $300K too before it stalled and became a "no-sale". Was it better than the EK2 car? Yeah, it probably is. Is it an equal to Schmeeckle's EB5 car? Hmmm, I don't really think so.
Since I am not in a financial position to be shopping for one of these cars, I don't really know what dynamics ultimately come into play at that level. The way the car "presents" in it's "correctness" is important. "Exclusivity" (those with rare and desirable options) is important too. Then of course is documentation - the more the better. All three of those things combined add up to what I heard a certain collector refer to as "provenance" which in turn determines it's relative market value. I don't know. All I really know is that I'm glad these collectors buy and sell these cars as it brings them out of hiding and into the public eye for you and me to enjoy seeing them!
Quote from: BIGSHCLUNK on January 13, 2018, 02:07:55 PM
Quote from: Roadman on January 13, 2018, 12:56:18 PM
Quote from: Brads70 on January 13, 2018, 12:41:24 PM
Sounds like a lot of fun! Hope that Murray fella and Bigs are not leading you "astray" :ohyeah:
we had breakfast yesterday and today, Bigs is a real character :haha: Great seeing them and spending some time. :grouphug:
Hey I've been called a whole lot worse !! :haha: I must say this has been very theraputic for me. Meet some great prople , now I can put a name and face to a handle! Mark thank you again for the wiring kit :ohyeah: Murray and I hit a car show / swap meet today and a brew pub (go figure). Tonight hang out at old town. Then back to the COLD tomorrow :Thud:
It was great visiting with all of you at Old Town, glad we could meet face to face!
Tav
Quote from: RzeroB on January 14, 2018, 03:11:56 PM
Quote from: Roadman on January 13, 2018, 12:58:34 PM
Quote from: Cuda Cody on January 13, 2018, 12:44:44 PM
How are some of the quality of the Hemi E-Bodies? The prices seem all over the place. Is it a condition thing?
I didn't get to see the cars this year, but @RzeroB (https://forum.e-bodies.org/mlist/rzerob_126) went, he should be able to weigh in .
Though I am a huge fan of these cars, I'm far from being an expert on the little details that seems to have a significant influence on the final price.
the way I see it - these big auctions are a "high-stakes" poker game - everyone with money to gain/lose is playing the game & you need to know what game they are playing
cars without a reserve sell at a number in the ballpark of their current/perceived "worth"
cars with a reserve are bid up to a number near their reserve, reasonable or not, with or without active bidders
the "house" always wins!
Yes: I feel some sellers get "lucky" at these auctions and sell an incorrect car for more than it's worth by finding uneducated buyers. Other cars seem to sell for around their real worth. I'm not so sure any cars sell for less than their worth.
I don't know about that. It's funny how some cars, the auctioneer will take far more time on ,some some they will push through ! I am sure that has something to do with who the seller or the buyer might be. :alan2cents :pokeeye:
Quote from: 6bblgt on January 14, 2018, 10:23:45 PM
the way I see it - these big auctions are a "high-stakes" poker game - everyone with money to gain/lose is playing the game & you need to know what game they are playing
cars with a reserve are bid up to a number near their reserve, reasonable or not, with or without active bidders
the "house" always wins!
Dan is a sharp guy and I believe he hits the nail on the head here ...
Dan's remarks reminded me of a conversational exchange between a couple of collectors that I was able to listen in on over lunch at the MCACN show last fall. It is a "high stakes poker game". If necessary, "schill-bidding" occurs to drive the price up to the "target" price area and then hope a real bidder gets swept up by the momentum and jumps in. With the fast paced frenzy they whip up it's easy to see how that can happen. You got to know the "game" cause like he says ... "the house always wins"!
Quote from: RzeroB on January 16, 2018, 09:51:24 AM
Quote from: 6bblgt on January 14, 2018, 10:23:45 PM
the way I see it - these big auctions are a "high-stakes" poker game - everyone with money to gain/lose is playing the game & you need to know what game they are playing
cars with a reserve are bid up to a number near their reserve, reasonable or not, with or without active bidders
the "house" always wins!
Dan is a sharp guy and I believe he hits the nail on the head here ...
Dan's remarks reminded me of a conversational exchange between a couple of collectors that I was able to listen in on over lunch at the MCACN show last fall. It is a "high stakes poker game". If necessary, "schill-bidding" occurs to drive the price up to the "target" price area and then hope a real bidder gets swept up by the momentum and jumps in. With the fast paced frenzy they whip up it's easy to see how that can happen. You got to know the "game" cause like he says ... "the house always wins"!
Yep, the more they sell it for the higher the commission....
Quote from: Jim AAR on January 16, 2018, 10:48:53 AM
Quote from: RzeroB on January 16, 2018, 09:51:24 AM
Quote from: 6bblgt on January 14, 2018, 10:23:45 PM
the way I see it - these big auctions are a "high-stakes" poker game - everyone with money to gain/lose is playing the game & you need to know what game they are playing
cars with a reserve are bid up to a number near their reserve, reasonable or not, with or without active bidders
the "house" always wins!
Dan is a sharp guy and I believe he hits the nail on the head here ...
Dan's remarks reminded me of a conversational exchange between a couple of collectors that I was able to listen in on over lunch at the MCACN show last fall. It is a "high stakes poker game". If necessary, "schill-bidding" occurs to drive the price up to the "target" price area and then hope a real bidder gets swept up by the momentum and jumps in. With the fast paced frenzy they whip up it's easy to see how that can happen. You got to know the "game" cause like he says ... "the house always wins"!
Yep, the more they sell it for the higher the commission....
Along with the commission, remember each seller pays to enter their car, pays extra for premium spots (like a Friday night), each bidder pays for the right to bid, each spectator pays for a ticket, each sponsor pays for a both/commercial/signage including Reliable auto transport, and Mecum sells their merch on site too. Dana Mecum is winning, but he also earned it by starting from scratch with one auction in Indy to 18 auto, 2 motorcycle, 2 tractor and 4 road art auctions in 2018. :takemymoney:
In this case the "house" is Dana's big mansion on the Lake Geneva shoreline! And he's got a Citation jet with a red tail with Mecum Sold! painted on it to shuttle him around the country to the auctions.
I admire his success, but sometimes I wonder if he is going to kill the goose that laid the golden egg.
Not that many years ago, he had far fewer auctions and the quality of the cars was high. Bidder registration was free, and there were bars set up in the bidder area with complimentary drinks and snacks. Spectator admission was $10 or $15. When I bought one of my Challengers at the auction here in 2011, my buyers premium was 6%.
Then he started a Gold level bidder status that costs $500, and only gold level gets the drinks.
Started charging the normal bidders $100 and now I think it's $200. Spectator passes go up every year and are up to $30, and buyers premium on a car is 10%.
With more and more auctions, car selection at the auctions seems stretched. The "1000 cars" here at Chicago is probably more like 600. And the quality is mediocre. The auction here, actually in Schaumburg, is only 5 miles from my house, but I was going to skip it last October, as it wasn't worth $30. A friend of mine registered to bid and offered me his guest pass for a day, so I relented. I spent most of my time there chatting with Bob Ashton and Ryan Brutt, and relaxing in the bleachers watching the bidding, not much money in the room. I don't think there was a car there I'd want if I was in the market. Used to have a bunch of wing cars, hemi E bodies, A12 cars and more here to bid on but now mainly cars you'd see every week at a local cruise.
I miss the good old days 8 or 10 years ago before it became such a money grab!
On the flip side I think they work hard to get great stuff to the auction. When we were in Kissimmee last weekend we talked to the guy from Buffalo who sold a LOT of signs there. He told us Dana went up there to look at the collection then sent up a crew to photograph everything and printed a very impressive catalogue. They also built crates to ship everything to the auction and recruited bidders. All at Mecum expense. He had a lot of praise for the effort that Mecum Auctions put into the sale of his family's treasures. I think there's a lot going on behind the scene that we don't consider. Undoubtedly it's making them a lot of money but I believe they work for it and no-one is obligated to do business with them. I do, however, feel that $30 admission is a bit much. My :alan2cents:
Maybe they believe that 30 bucks will keep the riff raff out and push folks more towards the bidders pass?
Btw, I cannot stand the idiots who will never bid but have to run up and look at a car while it goes past blocking everyone's view.