Disturbing 1969 435HP Sale on Barrett Jackson

[John H.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

How about Jack Douglas Chevrolet in Hinsdale, Illinois? I lived a block from their candy store and they used to be heavily involved with the specials, but get very little notarity.

Stu Fox

Stu -

The L-72 COPO was available to any dealer, but some dealers ordered more than others did and "specialized" in them; others "made their own" in-house.

[Jamie F.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

There was a nice '69 Riverside Gold 400HP coupe that sold for $53K, plus remember the 10% buyers fee, so they paid $58K for it. Nice original side pipe car, but not to NCRS standards. That's about market a year ago, and very good for right now.

[Ridge K.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

i like the secret bidders on the phone when things are not going well in the bidding. reggie jackson must not have had a secret bidder on the phone because he did not look too happy when his ZL-1 camaro went cheap compared to what they used to bring

A quick comment to any fellow NCRS member who might consider either buying, or selling at a future Barrett-Jackson event and yes, I am aware of B-J now is working with NCRS representatives to verify claims as to the alledged judging achivements on vintage Corvettes).
Barrett-Jackson got away with the alledged, "short hammering" of the former Ramcharger Hemi Mopar in January of 2007, with just an out-of-court settlement. There is no video evidence of that event, for those who may be thinking of doing business with B-J to review. That historic car, somehow went across the block during a television commercial break (and amazingly, was hidden from the viewing audience).
However, the alledged "long hammering" of the former Reggie Jackson 1969 ZL1 Camaro, IS on video, and can be easily found with an internet search. All 10 minutes, and some odd seconds of it, including the order given to the auctioneer by Craig Jackson at 4 minutes and 51 seconds to "don't drop the hammer".
If you are ever considering to buy or sell a Corvette at Barrett-Jackson, I would strongly recommend reviewing both events, especially viewing the video of the, alledged, "long hammering" of the '69 ZL1. My 2 cents.
Ridge

[Dick W.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

As a professional auctioneer by profession, in defense of NO one, nor condeming anyone, when the item gets close to, or above the pre-auction estimate, I will drop the hammer if bidding stalls. In the same breath if the item is way under pre auction estimate, I will keep digging, for a reasonable length of time, trying to get the buyer more money.

In the Ramcharger auction you were talking about, the car reached, or maybe exceeded the pre auction estimate.

[Ridge K.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

As a professional auctioneer by profession, in defense of NO one, nor condeming anyone, when the item gets close to, or above the pre-auction estimate, I will drop the hammer if bidding stalls. In the same breath if the item is way under pre auction estimate, I will keep digging, for a reasonable length of time, trying to get the buyer more money.

In the Ramcharger auction you were talking about, the car reached, or maybe exceeded the pre auction estimate.

Dick, no one in this entire club has any more respect for your views than I do. I enjoy every one of your helpful, and informative posts. You also, would be considered an expert in auctioneering, in most anyone's circle.
With all due respect, I disagree 100%, if you are stating that the Ramcharger auction was "fair, and above board". You failed to mention, the alledged personal connection between the man who dropped the hammer, and the winning bidder.
We all could agree that sometimes lawsuits are settled, to simply prevent a costly courtroom battle. And sometimes, they're settled to "bury the facts of the case".
As mentioned earlier, fortunately, the ZL1 auction video is available for viewing. Anyone interested, can make their own decision, as to was this handled in a fair, and ethical manner, to the high bidder at 4 minutes, and 49 seconds into the auction.
I hope to see you at the Mecum auction, where I'll be doing business in the future. Ridge

[Jamie F.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

Ridge,

[Tom M.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

Ridge,

Yes , they did have a long hammer on the ZL1, buyer still got 50% off, nice buy.
The clone 67 L88 went for 176k Clone.........

[Jamie F.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

That white and red clone was very nice. The seller asked me afterwards if I thought he did okay? I told him 60K for the non-matching L88 motor was a really good premium! He seemed sort of happy.
On the other hand there was a yellow '67 400hp side pipe sitting right next to it that the owner bought for $130K, spent $90K on the resto, and it sold for $132K. I don't think he was too happy. But then you always have the option of taking the 18% hit and buying it back if the dice don't roll your way...

[Tom M.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

That white and red clone was very nice. The seller asked me afterwards if I thought he did okay? I told him 60K for the non-matching L88 motor was a really good premium! He seemed sort of happy.
On the other hand there was a yellow '67 400hp side pipe sitting right next to it that the owner bought for $130K, spent $90K on the resto, and it sold for $132K. I don't think he was too happy. But then you always have the option of taking the 18% hit and buying it back if the dice don't roll your way...

It's more than 18% to buy it back!

[Bruce B.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

I understand that if you buy back your own car you pay the fees, they hold the title for a period of time and you are bound by contract to not consign to a different auction for 1 year.
They tie you up pretty good, but it's all in the contract which I'm sure you need to be a lawyer to understand.

[Jamie F.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

How so?
10% Buyers fee
8% Sellers fee
He could of bid $133,000 to buy it back and paid B-J $146,300.
B-J would have given him back $122,360.
Would have cost him $23,940 to keep his car.
That's 16.36% plus the entry fee, a little less than 18%.

[Clem Z.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

As a professional auctioneer by profession, in defense of NO one, nor condeming anyone, when the item gets close to, or above the pre-auction estimate, I will drop the hammer if bidding stalls. In the same breath if the item is way under pre auction estimate, I will keep digging, for a reasonable length of time, trying to get the buyer more money.

In the Ramcharger auction you were talking about, the car reached, or maybe exceeded the pre auction estimate.

there is no way they are going to short hammer a auction where B/J will make 20% on a hundereds of thousands of $$$ BUT don't bet it not happening on a $50K car. they want to get to the BIG $$$ cars and not waste time on the chump change. JMHO and i think i am right.

[Jim D.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

It's more than 18% to buy it back!

10% buyers premium and 8% sellers = 18%.

[Jim D.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

there is no way they are going to short hammer a auction where B/J will make 20% on a hundereds of thousands of $$$ BUT don't bet it not happening on a $50K car. they want to get to the BIG $$$ cars and not waste time on the chump change. JMHO and i think i am right.

It is common knowledge that they short hammer a low dollar car to allow a BJ owned car (which there are many at each auction) more time on the block. Only a fool would sell a car there.

[Tom M.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

I understand that if you buy back your own car you pay the fees, they hold the title for a period of time and you are bound by contract to not consign to a different auction for 1 year.
They tie you up pretty good, but it's all in the contract which I'm sure you need to be a lawyer to understand.

I didn't know that, thanks

so you can bid your own car up , get high bid, and not pay for it, only buyer/seller fees