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Anyone else notice the prices the FFR and other Replicas sold for Barrett?
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Yup, but still has no affect on the real world private market pricing :D
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what was so special about the e-m that it sold for eighty grand??????????
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Not being a member of the "independently wealthy" class, I must ask: is the 10% buyers premium the auction house's take?
DD Nice 6000 series CSX... Retail is $140k, right? Hhmm... |
Having been to B-J as a transporter I had a pass to the auction. The problem is that an xyz is auctioned off for say fifty k. Now every one with a rustbucket xyz thinks it's worth the same money. This is ruining the market for everyone. Bill is most definitely correct in his statement. Tom
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Do Barrett-Jackson negotiate the sale charges (10%, 8%) for consignments that are known to be worth hundreds of thousands of dollars, or a million and more?
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Oh my...................:p
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I Don't know but it makes me kinda sick to think there was that much money out there when I sold mine And I must say that mine blew that one away
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According to the B-J website, sellers must also pay an entry fee for each vehicle offered which varies based on the day and time slot it gets. Entry fees used to range from $600 to $1,500 (circa 2009), but may have increased since then. |
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Listing fee (varies based on time slot, usually $1,000-$2,500) Selling Fee (usually 10% based on the actual bid price at time of sale) Buyers Fee-10% added on to actual bid price (IE: Bid 50K, final cost 55K) There are also fees for detailing the car (unless you want to do it) Add on shipping the car down to the auction, hotel, gas, tolls, parking, food, etc (if you plan to be there). Also keep in mind that first your car must be approved by the "auction board" at BJ to see whether it qualifies for their allotted slots. (have not heard of a car being turned down yet). Bill S. |
But if buyers are willing to pay increasingly strong prices, it's good for all of us. The market price for the car really is the listed price plus the buyer's fee.
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Registered buyers with a few drinks in them and who knows what can happen. Somebody's gonna have some splainin to do when they try to flip those cars.
I'm not anti-auction, but I'd steer clear of BJ. They try to play up all of the charity auctions, but my smeller tells me "no bueno." |
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I'll say it again, the price of a car at a professional auction like BJ, RM, etc does not have any bearing on the pricing you as a private seller will get when he sells his/her Cobra replica. If you have not personally been to a BJ auction in the last 9 years, you will never understand why this is so. Bill S. |
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Do the math. After all the fees paid, the auction houses cut and travel expenses have you gotten a good deal? Seeing that B-J is a no reserve auction you stand the chance of losing big time. That happened to an acquaintance. If you choose to sell at an auction choose well. Tom
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Correction on seller's fees from the Barrett-Jackson web site:
WHAT DOES IT COST TO SELL MY CAR? To sell a vehicle at Barrett-Jackson, the Consignor is responsible for an entry fee as well as a Seller's commission of 8% of the hammer price for No Reserve consignments or 10% of the hammer price for Reserve consignments. The entry fee is determined by day and time of your Lot entry and includes tent space. Payment of fees without a signed contract does not constitute a consignment agreement. |
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.' |
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