Bring a Trailer wallops the big auction houses!

[Stef]

Have you been following Real Estate? Or groceries?
.

Yes for sure but those are necessities.
I understand why collector cars appreciate, and that's a good thing especially the 05/06 GT'S as they rightfully should.

I've just never remember such a dramatic sharp increase like we are seeing now, all in just the past 6 months or so. Crazy at Mecum!

Its definitely not a buyer's market.
That train left the station.

 

[2112]

Yes for sure but those are necessities.
I understand why collector cars appreciate, and that's a good thing especially the 05/06 GT'S as they rightfully should.

I've just never remember such a dramatic sharp increase like we are seeing now, all in just the past 6 months or so. Crazy at Mecum!

Its definitely not a buyer's market.
That train left the station.

Maybe people looking for hard assets to move their rapidly depreciating cash into??
.

 

[PeteK]

Have you been following Real Estate? Or groceries?
.

Of course. How can you not?

 

[PeteK]

And another BaT sale: 2006 Heritage 1900 miles, $641K.

After the auction commissions and fees, this seller made more, and the buyer paid less, than the similar one with fewer miles at Mecum last week.

1,900-Mile 2006 Ford GT Heritage Edition

Bid for the chance to own a 1,900-Mile 2006 Ford GT Heritage Edition at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #63,603.

bringatrailer.com

 

[GT@50]

What are the tax liabilities on these sales? If none because of personal property, might be driving prices higher too.

 

[twobjshelbys]

What are the tax liabilities on these sales? If none because of personal property, might be driving prices higher too.

You'll owe sales tax on purchase price in most states.

 

[GT@50]

You'll owe sales tax on purchase price in most states.

For the seller

 

[GKW05GT]

Capital gains for seller, sales tax for buyer. Tax man makes out even better than Dana.

 

[Specracer]

Well, Not sure the "big" auction houses are dead. Bohnams last week felt strong, and then I got these facts in an e-mail from Barrett Jackson. Note not a record week, Mecum did that 2 weeks ago, but BJ had ~1500 less cars.
Avg sale of $105k, wow....

• $195.9 million from 1,857 No Reserve collectible vehicle sales, 100% sell-through rate
• Average vehicle sales price reached unprecedented $105,517
• Ten non-charity vehicles sell for over $1 million, the most in Barrett-Jackson history
• Over $8.8 million raised for charity; two charity vehicles surpass million-dollar mark, including world auction record 2023 Chevrolet Corvette Z06 VIN 001 (Lot #3009) that hammered in at $3.6 million
• More than $7.3 million in automobilia sales — the most successful auction in 21-year history

​

 

[PeteK]

Not sayin’ the live auction events are roadkill, just that BaT has surpassed them, and taken a chunk of their business. BJ, Mecum, Sotheby’s, et alia, will continue to provide a live show for people who like that experience.

BaT is now the 600-lb gorilla.