B-J Ford GT @ 3:00pm Arizona Time


160, on a basically new car, who's orig. sticker is 156, no pedegree, and still a mnew/modern cars, says GREAT CAR , WILL ONLY CLIMB AS THE YEARS GO BY:thumbsup. Thats why enjoy them my friends , drive them, rally them , this has got to be the only modern car that has never dipped to below sticker as a whole. Vipers,vettes ect, i like them but like all the others they just tank through the floor. YES THAT WAS A VERY QUICK GAVEL, BUT THEY KNOW IN 10 YEARS THERE BUDDY GOT A RETURN OF 2 OR 3 HUNDERD PERCENT. WHATEVER, ENJOY THE RIDE.GTJOEY 1314 P.S. DOESNT THAT CAR STILL JUST LOOK LIKE THE t#ts on stage:thumbsup JUST BEAUTIFUL:thumbsup
 
shelbyelite said:
10% of the selling price
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Seller also pays 10% of selling price
 
Let's see, the seller got 145 - 10% = $130,500. The buyer paid 145 + 10% = $159,500. BJ got 20% of selling price = $29,000. Hmmmm. Do I have this right?
If so, the seller would have been MUCH better off wholsaleing it to Shelby, and the buyer would have been much better off buying it from Shelby. At least it seems that way to me, if I have all this just right.
 
Someone correct me if I'm wrong, but, wuzzunt there a BIG TIME brew-ha-ha over a "quick gavel" sale LAST year ..............??? :willy
 
I think he may have done better at CARMAX!
 
Yes, the judge agreed the week before this years auction that his sale was correctly conducted.

The entire auction is video'd.

There is no contractual time how long each car remains on the block.
Basic rule of thumb is 3 minutes.
 
Mike!
This car sat all week locked up and filthy. No owner or representative to answer questions. 5000 registered bidders and he/she was no where to be found. They should be happy they got what they did as this was a no reserve sale.
Cheers,
Daniel
 
B O N Y said:
Mike!
This car sat all week locked up and filthy. No owner or representative to answer questions.
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Real auctions almost never have an owner or rep present, regardless, why the hell would you sell the car this way? Abandon it and hope for the best?! Is this any different than a mother leaving her baby on the firehouse steps?!
 
Mike!
Most American auction houses encourage the consignors to remain with their cars and answer questions. This always allows the practice of curbing (selling the car outside of the auction to someone met at the sale)

In Europe the consignor is not allowed to remain with the vehicle.

When a car is locked there is no chance for a prospective bidder to check it out.

Cheers,
Daniel
 
BONY!

I was referring to "real" dealer auctions. :thumbsup
 
Roger Vincent said:
Let's see, the seller got 145 - 10% = $130,500. The buyer paid 145 + 10% = $159,500. BJ got 20% of selling price = $29,000. Hmmmm. Do I have this right?
If so, the seller would have been MUCH better off wholsaleing it to Shelby, and the buyer would have been much better off buying it from Shelby. At least it seems that way to me, if I have all this just right.
Click to expand...

The seller would have been MUCH better off as I would have paid more for that car than the $145k it sold for and there would have been NO 10% selling fee. I gotta call the guys at BJ and figure out how they brain wash the idiots into paying 20% in fees. Doesnt make sense to me......
 
abolfaz said:
BONY!

I was referring to "real" dealer auctions. :thumbsup
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Hello Mike!
As I understand the dealer's auctions ran by Manheim and others are actually safer than the collector car auctions. That if a car is misrepresented the sale can be rewound.

Today at B-J you see hundreds of cars that are built just for resale. They have no or less than one hundred miles on them and you know that the new owner will have to shake them out.
Cheers,
daniel
 
shelbyelite said:
The seller would have been MUCH better off as I would have paid more for that car than the $145k it sold for and there would have been NO 10% selling fee. I gotta call the guys at BJ and figure out how they brain wash the idiots into paying 20% in fees. Doesnt make sense to me......
Click to expand...

Now-Now Shelby:biggrin:lol:biggrin
Lets see, 5000 ups that all have an l/c and want to buy something and
1200 cars...:lol What picture do I have to paint for you?:rofl

A large percentage of cars sold at B-J are by dealers just like you.
Park Place must have had 50 cars, Chev Connection at least 35 cars,
San Diego Musuem had 25 cars... etc. etc.

Of course one could argue that when two private parties deal together they
get a better deal than working with an agent-dealer like you. One can argue anything... right?:cheers
 
B O N Y said:
Hello Mike!
As I understand the dealer's auctions ran by Manheim and others are actually safer than the collector car auctions. That if a car is misrepresented the sale can be rewound.
Click to expand...

HELLO DANIEL!

You got that right. You pull $hit at Manheim and you're toast! Also remember as a dealer they can go after your bond and your license, that in and of itself keeps most honest. The collector car auctions scare me! Especially with the way I've seen some of the bidding stretched out on certain cars. There was one about 3 years ago here in florida (I think it was BJ) where the seller (normal non dealer) let his car go through with no reserve (84 lamborghini countach), he wanted north of $80k for it. When it went up the bidding died at $60ish, he jumped in and bought his own car back for a little over $70. Totally disgusted with the whole deal, he then turned around and sold the car to Morris Shirazi (former owner of the Toy Store) on the spot for a little less than he just paid for it. What he didn't realize at the moment was that he still had to pay the sellers fees and the BUYERS FEES!

Doesn't it seem like a bit of a conflict to let the seller bid on his own car?!
 
Guys, In addition to the buyer premium there will also be city and state sales tax which is in the 8% range. If the premium is taxed that puts the total over 170K.
 
Mike,

Do you think a dealer who brings ten cars pays the same commission as a collector bringing and average car? Or if a collector has two cars that will hammer out for $1m
going to pay 10pts in?

Russo Steele had a 5% buy back agreement printed on their contracts. Some houses that list at no reserve will waive the buy back.

Of course if you wanted to inflate the market for something you could sell your car at auction, have an associate bid it up and
create an inflated market and the auction house MIGHT not even be aware of what your up to.

Like anything else, better understand what your doing, there is more to it than meets the eye.

Cheers,
daniel
 
Jeff,
If the car leaves the State of Arizona on an ICC licensed hauler the City and State tax is waived.
Cheers,
daniel
 
B O N Y said:
Like anything else, better understand what your doing, there is more to it than meets the eye.

Cheers,
daniel
Click to expand...

Daniel,

The atmosphere at these "auctions" encourages mischief, if I want to get screwed I can do so closer to home!
 
My buddy from Ozland just sent me this...
http://www.news.com.au/business/story/0,23636,23083197-462,00.html
 
B O N Y said:
Jeff,
If the car leaves the State of Arizona on an ICC licensed hauler the City and State tax is waived.
Cheers,
daniel
Click to expand...

Interesting. That probably covers 90% of the cars sold...? Scottsdale cant be to happy about that.
 
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