E Bodies Mecum Kissimmee, 2018

[6bblgt]

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 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!

[RUNCHARGER]

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.

[realn96]

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

[RzeroB]

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"!

[Jim AAR]

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....

[303 Mopar]

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.   

[JH27N0B]

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!

[blown motor]

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 

[HP_Cuda]

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.