Anyone else notice the prices the FFR and other Replicas sold for Barrett?

[Steve Cassani]

The Barrett-Jackson 'bump' is part of the 'experience' the Jackson organization markets agressively. With an ever increasing number of sellers who turn to the Internet succeeding in finding buyers who share their entusiasm will the supposed departure of prices in a competitive setting that is also under one tent continue to exaggerate the market value?

I believe the crowd and the opportunity for a bidder to become visible in the crowd go a long way toward expaining why the prices on the final two days of Barrett-Jackson are rarely equaled in other public transactions. Visibility among like-minded buyers and the fact Jackson succeeds in attracting to his event sometimes rare and always interesting cars makes what Jackson terms an 'experience' separable from most of the car auctions, especially those that are held any weekend all over the country. The market would not appreciate this sort of difference. In the market, the price sold is just one of innumerable prices which, when aggragated, give us a view of the value of cars of a make, model and condition class before the next bid.

While perhaps not 'apples and oranges,' lumping the successful bid at Barrett-Jackson with all others risks inducing a bias to what we call 'the market value.'

[csx4910]

On sales of $107 million Barrett-Jackson's cut was approx $15-20 million based on the total of the weekend sales, not counting admittance fees, entrance fees, alcohol sales and vendor booths. Based on the math $30 million or so isn't bad for a weekend(minus their costs of course)

[fordracing65]

I sold my SPF on Cobra Country,I feel like I gave it away for free compared to the auction prices, No offense but 80g for a Everett Morrison LMFAO...

[REAL 1]

To me BJ is like going to Las Vegas or Atlantic City. The House usually always wins and you more than likely will not win.

Ever wonder why Gregg Jackson jumps up and down like a kid in toy store when some fugly hot rod or other car is bid up to multiple times its true value? Just look at Gregg Jackson's $2 million dollar garage at home complete with its own rotating display for the center piece vehicle (just the garage not including the cars). That should tell you who wins at a BJ auction no matter what the sale price. You want a chance to pay him even more for the priviledge of selling you car in a prime time spot? It will cost you even more.

I can see the value of really true collectible rare cars where you have legit buyers in one spot in order to determine the best price...but for the average run of the mill enthusiast car I don't see the benefit after you add up all the costs.

I certainly would not sell at any auction without a reserve.

As to the Everett Morrison that sold for $80K I'd be willing to bet the buyer will have a pretty serious case of buyer remorse once his hangover from the liquour induced bidding frenzy wears off but I'll bet Jackson was delighted with that sale.

[Rich A]

Originally Posted by REAL 1

As to the Everett Morrison that sold for $80K I'd be willing to be the buyer will have a pretty serious case of buyer remorse once his hangover from the liquour induced bidding frenzy wears off but I'll bet Jackson was delighted with that sale.

I wonder if the buyer will ever post on this forum and admit what he paid for it.

[dcdoug]

Originally Posted by REAL 1

Ever wonder why Gregg Jackson jumps up and down like a kid in toy store when some fugly hot rod or other car is bid up to multiple times its true value?

Just FYI. It's Craig Jackson.....

[REAL 1]

The misspelling is an indication of how much I care and how closely I follow his auctions.

[jhv48]

My take is this: BJ auctions are a spectacle, a circus of wealthy individuals (and some that think they are) that like to hang out with each other, compete to see who will fold first and compare wallet sizes. Nothing else.

If you want to participate and enjoy the showmanship and enthusiasm then by all means, do so. But don't think you're going to get a bargain no matter how much you pay.

If you are looking for the best way to actually buy an investment grade muscle car, then pursue other sources.

And kudos to BJ. They are making money hand over fist. The American dream.

[RodKnock]

Originally Posted by REAL 1

The misspelling is an indication of how much I care and how closely I follow his auctions.

I agree. Much ado about nothing.

The only way this impacts my world is that next month's issue of Keith Martin's Sports Car Market magazine will be thicker with more pictures, discussion and results.

Excellent toilet reading.