Hats Off To Craig Jackson

Bernica · #1 (**permalink**) 09-25-2010, 07:12 PM

I have to take my hat off to Craig Jackson for doing the right thing in todays Barrett-Jackson auction. The successful bidder on the Bugatti Veryon at $700k got squirrelly on them and Craig posted up and just bought the car himself to protect the seller. They were publicly pissed at this guy, and said so on tv. I believe he was escorted off the property. Of course, Craig did do a pretty good deal on a Veryon. An unexpected expense I guess, but that's life "under the big top". I'm sure there's a back story, but it came across as a class act on their part.

csx4910 · #2 (**permalink**) 09-25-2010, 08:38 PM

I didnt see that part. Right after they brought the hammer down to a young 30's guy with tats they went to a commercial at my house. Did this happen after or right before that? People can say what they want but at the end of the day Craig is a stand up guy. I was a much younger snot nose kid in my 20's when he still used to bring his personal cars to the pavillions in scottsdale, one of the longest running weekly car shows in the US.

Silverback51 · #3 (**permalink**) 09-26-2010, 03:48 AM

It was probably 15 to 20 minutes after the sale that they announced what had happened.

Mark IV · #4 (**permalink**) 09-26-2010, 04:42 AM

If people think Wall Street is "greasy", the world of big dollar auto auctions is REALLY fast and loose!

Between shills, phantom bids, pressure and all of the other "stuff" that happens, it is no area for the amateur. And the same cars that go from auction to auction with ever increasing sale amounts, to set new benchmark prices before they actually are sold seems to be increasing.

A dirty business at best.

TN Shelby Cobra · #5 (**permalink**) 09-26-2010, 10:32 AM

I agree 100% with the last comment! They ruined the collector car hobby! Anyone with an old car now thinks because BJ sold one for high bucks to a drunk idiot that theirs is worth the same amount!

Bernica · #6 (**permalink**) 09-26-2010, 02:18 PM

I agree with the comments above. I think Craig Jackson is aware of the bad rep in his business. That's why they are on this "Top 100 Most Ethical Companys" award campaign this year. This was a great opportunity for Craig to underline that. Right, wrong, whatever....he and Steve played it up pretty well, IMHO.

rustyBob · #7 (**permalink**) 09-26-2010, 02:59 PM

I think there is a difference between the guy who spends money for a "collector car" and the guy that spends a ton of cash on a car that has been run through BJ...most of those cars arent collector car to begin with...a Yenko clone or a Hemi clone or a GTO clone are not and IMO will never be collector cars......

timsullivan · #8 (**permalink**) 10-05-2010, 07:28 PM

I couldn't agree more. Craig Jackson and his father before him, has gotten filthy rich off car sellers, charging both the buyer and seller ridiculous amounts in fees and commissions and has done more damage to the old car collector hobby then good, by far. He won't lose a plug nickel off that car he bought back.

Anyone who buys a car at one of these big auction houses fully deserves what he gets: an overpriced car that they need to hope and pray will find a bigger sucker then they are, down the road. Stupid people, spending stupid money!

Not that I have a strong opinion or anything….

jmimac351 · #9 (**permalink**) 10-05-2010, 08:09 PM

I hope to become filthy stinkin' rich one day so people talk about me on the internet in disdain while I laugh at those consumed by class warfare. Then I will light a cigar. Preferably, a Cuban.

rustyBob · #10 (**permalink**) 10-06-2010, 02:35 PM

What i dont understand is why did Craig Jackson buy the car ???
why didnt it go to the next highest bidder.......
if the high bidder backed out then it only seems
fair that the next highest bidder should have gotten the car..

exrodder · #11 (**permalink**) 10-07-2010, 04:40 AM

That's a very good question. Anyone have a believable answer to that? The more I watch high profile car auctions, politicians and reality shows, the more skeptical I get. They put on a good show, just not real believable!

Silverback51 · #12 (**permalink**) 10-07-2010, 05:29 AM

Quote:

Originally Posted by rustyBob

What i dont understand is why did Craig Jackson buy the car ???
why didnt it go to the next highest bidder.......
if the high bidder backed out then it only seems
fair that the next highest bidder should have gotten the car..

The seller assumed, and rightly so that the car had sold for $700,000. If I remember correctly, the next highest bid was $650,000. Craig offered the car to any of the prior bidders for $700,000 so that the seller would not take a $50,000 loss. No one offered up the $700,000, so Craig bought the car.

Not sticking up for him. I'm just stating the facts of what happened as they were reported on TV, and as I remember them.

xlr8or · #13 (**permalink**) 10-07-2010, 10:03 AM

Or the earlier bidders were just shill bids and Jackson had to cover his ass.

Silverback51 · #14 (**permalink**) 10-07-2010, 11:17 AM

Quote:

Originally Posted by xlr8or

Or the earlier bidders were just shill bids and Jackson had to cover his ass.

I have wondered about that myself at times.

Bidding will be taking place and say it's at $50,000. All of a sudden it drops back down to $49,000. What happened? Was there a mistake made? Or was it a person from the auction house (not naming any one auction house by the way) bidding it up, and then got stuck with the bid so they lower it back to the last real bid? Seems to happen to often at times.

rustyBob · #15 (**permalink**) 10-07-2010, 11:49 AM

Its a NO RESERVE auction....
it should have sold to the next highest bidder for the 650k

snakebitekit · #16 (**permalink**) 10-07-2010, 11:54 AM

Quote:

Originally Posted by jmimac351

I hope to become filthy stinkin' rich one day so people talk about me on the internet in disdain while I laugh at those consumed by class warfare. Then I will light a cigar. Preferably, a Cuban.

That's only because you're in Florida.

Agree on the stinkin rich comment.

YerDugliness · #17 (**permalink**) 10-07-2010, 01:20 PM

Quote:

Originally Posted by rustyBob

Its a NO RESERVE auction....
it should have sold to the next highest bidder for the 650k

I think Jackson bought it for a personal investment. He wouldn't have suffered the "premium" normally charged to the buyers, since he was the buyer, and I'd bet we'll see it at the next B&J auction, where he will not suffer the "premium" charged to the seller (himself).

Cheers from Dugly

slider701 · #18 (**permalink**) 10-07-2010, 04:28 PM

Quote:

Originally Posted by rustyBob

Its a NO RESERVE auction....
it should have sold to the next highest bidder for the 650k

IMO it should have been sold to the second highest bidder for $650K and the jackass who was the high bidder (but backed out) should have been responsible for the other $50K, plus any difference in commission/fees

joyridin' · #19 (**permalink**) 10-07-2010, 05:00 PM

Great publicity stunt to say the least! Some "unknown" person disappears, Craig "the good guy" buys the car, and everybody is happy.

Kind of ranks right up there with that Pawn Star episode and the rare Cobra they found at the Shelby factory.

CHANMADD · #20 (**permalink**) 10-07-2010, 05:18 PM

Quote:

Originally Posted by Mark IV

If people think Wall Street is "greasy", the world of big dollar auto auctions is REALLY fast and loose!

Between shills, phantom bids, pressure and all of the other "stuff" that happens, it is no area for the amateur. And the same cars that go from auction to auction with ever increasing sale amounts, to set new benchmark prices before they actually are sold seems to be increasing.

A dirty business at best.

This has been going in the auto business for years.That's why the car business is ruined...this guys sell the cars to each other and just increase the flooring....Its hard to believe that the finance Companies don't catch on ......or maybe they do !!