Mecum, real McCoy corvette, Lot S132

[Michael J.]

Re: Mecum, real McCoy corvette, Lot S132

See second sentence in my last post

Indeed Dick, indeed…...

And it is ironic that of all those multi-million $ cars, at the end of the day the 'Cuda was #1 sold at well south of $1 million. At least a Corvette came in 2nd, another L88 of course. I guess the real money was not in the room at Kissimmee.

[Philip C.]

Re: Mecum, real McCoy corvette, Lot S132

Phil, I was there. The "Asking" was 2.4 when the hammer fell, so 2.3 is the correct number.The 1965 Cobra was hammered at 1.6 right after the '56(un-listed in results but we saw it go off). Maybe that's what you were thinkin' of?Richp.s. A friend has a video clip with sound when the #1 came up into the staging area. It'll be available later today.

Thanks Rich you are correct I guess it was me. Phil 8063

[John H.]

Re: Mecum, real McCoy corvette, Lot S132

Michael -

It stands to reason that when you run 35 cars per hour across the block for ten days, you're likely to run out of bidders before you run out of cars...

[Bruce B.]

Re: Mecum, real McCoy corvette, Lot S132

Since the auction contract allows the auction company to bid close to the reserve, can you believe any of the bids?????

[Dick W.]

Re: Mecum, real McCoy corvette, Lot S132

Since the auction contract allows the auction company to bid close to the reserve, can you believe any of the bids?????

The Uniform Commercial Code, section 2-328, which has been adopted by 49 states,
allows the auctioneer to bid on the behalf of the seller up to the reserve

[Michael J.]

Re: Mecum, real McCoy corvette, Lot S132

Dick, I think that is something many people do not realize when they go to these auctions. It is most apparent at BJ, where the "bidder's assistants" routinely look out into the audience and "see" and register bids that are not there for several minutes as the bid climbs quickly. I didn't notice it nearly as much at the Mecum ones, but they may just be trickier.

[Dick W.]

Re: Mecum, real McCoy corvette, Lot S132

Dick, I think that is something many people do not realize when they go to these auctions. It is most apparent at BJ, where the "bidder's assistants" routinely look out into the audience and "see" and register bids that are not there for several minutes as the bid climbs quickly. I didn't notice it nearly as much at the Mecum ones, but they may just be trickier.

Big difference in the two companies Michael. I have been behind the stage at BJ watching it from the auctioneers side. Majority of BJ cars are absolute sales, they will not knowingly accept his from the owner or his representative. That could be construed as "shill" bidding. Mecum cars, majority are with reserve as can be seen in the results page in their results tab on their web site

[Bruce B.]

Re: Mecum, real McCoy corvette, Lot S132

So as I stated, "seeing is NOT believing".
That is proven by the trash cars in the " Beat Goes On " parking lot.
Junk like a 57 Belaire that looked like a $25,000 car that got bid up to $75,000 but did not sell.
As usual the winner is Mecum...

[Michael J.]

Re: Mecum, real McCoy corvette, Lot S132

I know BJ claims "no reserve", but you and I both those Davis and Jackson (as well as that consignment manager with the long hair) know full well what an owner wants out of the car, and the way they add info, their opinions of "how cheap" the car is, etc. it is apparent they are pushing the bids. I am not convinced phantom bids are not being registered much of the time until near the owners expectations, we won't call it a "reserve" of course.

[Roy S.]

Re: Mecum, real McCoy corvette, Lot S132

I know BJ claims "no reserve", but you and I both those Davis and Jackson (as well as that consignment manager with the long hair) know full well what an owner wants out of the car, and the way they add info, their opinions of "how cheap" the car is, etc. it is apparent they are pushing the bids. I am not convinced phantom bids are not being registered much of the time until near the owners expectations, we won't call it a "reserve" of course.

Michael,

Barrett-Jackson is a production company they produce sold cars, they make according to their published policy 8 plus 10 on every car they sell or 18%, what incentive do they ever have in a no reserve auction to own the bid, if the car sells to them because there is no other bidder they own it and they just spent 92% of the bid, I think making 18% versus spending 92% keeps a solid financial gain on the books, myself.. The fact they try to get all they can for a car is exactly why some take their car to them. I would not want it any other way if it was my car.

In a reserve auction its just different the car has a reserve and if it does not reach reserve the auction house does not make a red cent, in effect they are not a production company until it reaches reserve, don't be shocked that cars go to just below the reserve and are no sales, it takes a buyer to make it a sale. Be shocked when at a reserve auction the smoke and mirrors clear and you have seen cars hammered sold to pre approved phone or audience buyers that are non existent, such that the published result does not match what you heard or saw.

[Dick W.]

Re: Mecum, real McCoy corvette, Lot S132

Michael,

Be shocked when at a reserve auction the smoke and mirrors clear and you have seen cars hammered sold to pre approved phone or audience buyers that are non existent, such that the published result does not match what you heard or saw.

I can show anyone a Boss 429 that was hammered sold at multiple auctions, only to show up at the next one. When doing appraisals, while doing my research on comparables, I have found multiple instances of a vehicle going from auction to auction, but being hammered sold at each sale. Hard to deny when the VIN is listed with each vehicle. Never found one like that at a BJ auction. The database that I use produces some very interesting results.

[Michael J.]

Re: Mecum, real McCoy corvette, Lot S132

Well, you guys have lots more experience at auctions than I do, and I will defer to your superior experience and knowledge. I too have seen the same car sold at sequential or closely spaced Mecum?Russo Steele/Gooding auctions, but sometimes I just think those are from the numerous and famous "flippers" from our hobby looking to make a quick buck.

But speaking as a novice bidder, when I was at BJ and the bids started off at say $10k and in a New York minute the bidder's assistants (about 8 that I counted) standing in front of the stage had yelled and registered about 12 bids from various unseen people around the first few rows, I never saw raise a hand or signal anything, I got suspicious. Now, near the end of the bidding for a car, when you actually see a bidder's assistant or three standing in front of real, live people signaling intent, it seems very real. Before that is what I am talking about. At Mecum, that circumstance didn't seem to happen in the early bidding, but again, maybe they are just more crafty.