CSX 4000 just sold at Barrett Jackson

[csx4910]

I just watched a csx 4000 get hammered at $80K with a 482/Tremec 5 speed. Oh how I wish I would of waited 2 years to buy my csx I could of saved a LOT of money!! Oh well, I cant take it with me when I leave

[mickmate]

You've got a nice car, what's the fun you've had in it worth in the meantime? Don't look back, just ahead with a big grin.

[mrmustang]

Originally Posted by csx4910

I just watched a csx 4000 get hammered at $80K with a 482/Tremec 5 speed. Oh how I wish I would of waited 2 years to buy my csx I could of saved a LOT of money!! Oh well, I cant take it with me when I leave

Just think, you then deduct 10% for the sellers premium, another $500-$1,500 for the auction time slot, shipping costs, maybe hotel fees if the seller is there, and you get a much lower net than that 80K figure.



Bill S.

[fastd]

do all those cars sell, are they all no reserve?

[madmaxx]

Kinda makes you wonder why these guys just dont list their cars at a bargain price and not have to ship or show except to the buyer.

[csx4910]

CSX6000 series went for $90K but yes, they are all at no reserve. I ran my superformance through Russo and Steele a couple of years ago, didnt get close to the reserve price and I spent about $1500 without even selling it. Then I got smart and put it on cobra country and sold it in 2 weeks for more than I had set the reserve at the auction. Anything but real 60's cobras have never done well at any auctions I have been at. A SPF GT-40 went for under $85K and they had $130++ into it.

[Excaliber]

There's are also many examples of "inferior" (subjective term at best ) brands of replicas that pulled big dollars at auction. No hard and fast rules here, "rules of thumb" apply at an auction. The biggest rule of thumb is that an auction is like Las Vegas, sometimes you get lucky, sometimes you don't.

[FredBMOC]

I was at Barrett Jackson yesterday and saw the CSX 4000 in person; It was very nicely done.
I also saw the SPF GT-40, a , realy, realy nice car!
I asked someone I was with at the auction how these people gamble listing their cars on Barret Jackson without being allowed to have reserves and he told me that many sellers use "Ghost" bidders to raise the price and even win the bidding if necessary in order not to take a bath on the sale. Still a huge gamble IMO.

[RedSnake351]

If a "Ghost" bidder does win at say $80,000., there is still a fairly large commission the seller has to pay BJ, correct?
Does anyone know the percentage?
Ralph

[Uncle Sam]

10% buyer
8% seller
18% total is a tough no sale.

How about the Veyron situation?

[csx4910]

Final hammer price on the bugatti I believe was $775K or less than 50% of the sticker with just 11000 miles on it. I think they were very diapoointed in that one and the Mercedes Mclaren that "only" went for about $375K. That car has 600 miles and a new sticker of about $800K I think.

I have yet to ever see a non csx2000 or 3000 cobra sell for more than $110K. It doesn't matter whether it is a Csx, Era, Contemporary, FFR, SPF it just isnt the type of buyer that buys at BJ. I have been going for 20 years to Scottsdale and they just don't bring anywhere what they cost to build even when the economy was good 4 or 5 years ago.

On the other hand if you are a mid 50's chevy (several over $100K) or even a 67 mustang shelby "tribute" went for over $120K. Muscle cars sell well there. The ferrari's went for a steal compared to what I thought they would sell for

[twobjshelbys]

Originally Posted by RedSnake351

If a "Ghost" bidder does win at say $80,000., there is still a fairly large commission the seller has to pay BJ, correct?
Does anyone know the percentage?
Ralph

Uncle Sam is right on the deal. If you have some buy it for you you still pay BJ 20%. You'd have to have a pretty high dollar deal to make that make any economic sense.

And, they have caught people doing it in the past and you will be banned from the island if you get caught.

To me all of that is heresay. "A friend of a friend who knows someone who knows someone that said they used a shill". Bring someone here who says they did it. I don't think it's likely. That would be unlike eBay where I've seen several people admit they placed bids to jack the price (but item still didn't meet reserve) and stated if the seller lowered the reserve they wouldn't complete the deal. That's slimey.

[csx4910]

I believe it happens. I was watching a rerun of Wayne Carini on chasing classic cars and he stated on camera that the auction house was allowed and frequently raised the bid themselves pretending it is someone in the room to get it closer to the reserve price.

[RodKnock]

Originally Posted by twobjshelbys

To me all of that is heresay. "A friend of a friend who knows someone who knows someone that said they used a shill". Bring someone here who says they did it. I don't think it's likely. That would be unlike eBay where I've seen several people admit they placed bids to jack the price (but item still didn't meet reserve) and stated if the seller lowered the reserve they wouldn't complete the deal. That's slimey.

It is hearsay, but to think that it doesn't happen is naive. It happens and I've read about quite a bit in various auction magazines such as Keith Martin's Sports Car Market auction magazine.

[Excaliber]

...da house always wins in the end.

[PANAVIA]

Everything is on sale right now still -- one wonders if this is a generational shift where money is drying up for certain cars?

What lot number was the 4000 ?

[csx4910]

665 was the one that went for 80K

[mrmustang]

Originally Posted by twobjshelbys

And, they have caught people doing it in the past and you will be banned from the island if you get caught.

To me all of that is heresay. "A friend of a friend who knows someone who knows someone that said they used a shill". Bring someone here who says they did it. I don't think it's likely. That would be unlike eBay where I've seen several people admit they placed bids to jack the price (but item still didn't meet reserve) and stated if the seller lowered the reserve they wouldn't complete the deal. That's slimey.

I've told this story in the past.


Well, here is someone who knows it first hand. Barrett Jackson auction West Palm Beach several years ago. I'm there days early, have my heart set on a privateer BOSS 302 TA car (same car I have been bidding on Ebay on and off for the past 4+ months) ....Over the course of the two days before the car hits the block I am at the car looking it over, taking notes (owner hopes the car won't sell for less than 85K as that is what he has in it), taking pictures, making the phone calls to verify casting numbers and such. Comes down to Saturday night, early prime time and the car is now up on the stage, I rarely bid until the first "stall"(where they reread the description of the car), car is at 35K at this point and I start bidding, so far the other people bidding against me are legit (people I have seen or have spoken with at other BJ auctions).....Bidding now dies at 55K, I am the high bidder, going once, going twice, bidding now at 57K, 1K increments, I am now at 65K(give or take a 1K as it has been at least 5 years since that auction),I then spot who I am bidding against, the sellers brother-in-law who I met the very first day they were setting up the car in it's display area in the asile outside the main food vendors area (high traffic).....So on his next bid, I rub my hands together (sign that I am out) and no matter what they do to entice me, I refuse to bid higher....They gavel the car sold.....Remember, this is on a Saturday night, the car and owner are from Michigan....The following Tuesday the car is once again back up on Ebay (keep in kind BJ holds titles for a few weeks afterwards), same seller. his story to me (keep in mind he did not know I was the secondary high bidder at the auction) is that the high bidder could not pay for it and BJ refunded him all of his fees.......Sorry, but I knew that was not true, for if the higher bidder could not follow through they would have come to me as the secondary and offered the car to me, or put it back across the block, which BJ did neither........Guy went on to sell the car for 60K to a collector I know in Wisconsin who still has the car today........So, does it happen, yes, do sellers get burned by buying back their own cars, yes........Not hearsay in my case as I knew the players,,,,,,,,,


Bill S.

[FredBMOC]

Still makes me wonder why even risk it; put it for sale on Cobra Country and if it sells great if it doesn't, enjoy it a little while longer instead of risking taking a bath at a certain sale at BJ.
Anyway, it was interesting to go to the auction and see this and other cars in person. Some beautiful 50s and 60s muscle cars, lots of awesome classic trucks ( my wife was drooling for one of those!) and a few foreign classics. There we at least 4 Austin Healys and several Corvette's that I would love to own and that were up for sale.

[Skully]

What happened to the buyer of the Veryon, is he banned from BJ, I thought when the gavel went down you bought it. Dont you have to have a order of credit to buy these cars, if not they would be buying the cars back all the time.