I wonder what this will bring at Mecum?

[stevej37]

Ok...what does that mean?

"The bid goes on"

[HobieMarty]

Watching live right now. 1976 924 Burton car is on the block. Did not sell at 1.2 mil.

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[tdw28210]

NO sale at $25million bid. Maybe Jerry needs more dough? lol. My buddy Martin Steger is there with this 910 that comes up in like 20 more lots.

[tdw28210]

Originally Posted by stevej37

Ok...what does that mean?

"The bid goes on"

NO sale during the auction. They'll likely get Jerry's rep and the high bidder together and see if they can make a deal happen offstage.

[HobieMarty]

Sunoco Camaros crossing the block at the moment.

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[stevej37]

^^^ TDW
Ok...thanks
I might have missed them saying that, but it was kinda odd that they didn't explain it.
The crowd went silent.
Too bad...I wanted to see it go higher than 25 mil.

[tdw28210]

910 didn't sell onstage at $1.35. Martin said they are talking to a couple potential buyers now.

[ryans65]

Are the 917 and the 910 canaries in the coal mine for the collector car market or just the wrong buyer/ wrong time sort of thing? Surprised they didn't run the 917 through RM in Miami coming up rather than Mecum.

[tdw28210]

Originally Posted by ryans65

Are the 917 and the 910 canaries in the coal mine for the collector car market or just the wrong buyer/ wrong time sort of thing? Surprised they didn't run the 917 through RM in Miami coming up rather than Mecum.

Yeah, not sure and I said the same thing when I read the 917 was going to be at Mecum. I just don't see it as the venue for max dollars on iconic European race cars. I was casually watching most of the afternoon and I think i saw some 911's sell around the $100k-$150 range, but not the big dollar Porsche cars leading up to the 917. I didn't ask Martin when the 910 agreed to be part of the show but I suspect if was after the 917 was signed up. Probably true for several of those other higher dollar p-cars too.

[tdw28210]

and that was Martin driving it across the stage.

[HobieMarty]

Being that Mecum is mostly known for their Classic and Muscle Car auctions, they have had a few "specialty" cars roll across the block in the past few years.

https://youtu.be/_cMh5dTTj7g?si=oqYLxSMZb5ReE74A

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[rcooled]

Originally Posted by ryans65

Are the 917 and the 910 canaries in the coal mine for the collector car market or just the wrong buyer/ wrong time sort of thing?

Preceding the 917 to the block were a Ferrari 250GT Lusso, a Ferrari 365GTB4, a Ferrari Daytona spyder, a Ferrari Daytona coupe, and a beautiful 1932 V12 Packard...all of which stalled as well.

Surprised they didn't run the 917 through RM in Miami coming up rather than Mecum.

I think the venue certainly could've had something to to do with all the no-sales at the high end, and I was also surprised that Mecum got the nod to handle this one. Their usual fare is American muscle and restomods, and they run their show more like a livestock auction rather than a big-bucks collector event. Jerry must've got a sweet deal from them...maybe had the fees cut, or waived completely, in exchange for getting to promote and conduct such a high-profile sale.

Originally Posted by tdw28210

Maybe Jerry needs more dough?

Geez, the guy's already a billionaire...how much more dough does he need? Kind of surprising that he held his ground and wouldn't cut this loose. In one of the promo clips for the car, he said that "...it's not about the money."

[Brian 162]

That car was at every one of their auctions last year off to the side of the main stage. They talked it up for a year. I couldn’t believe it didn’t sell. Like others said a lot of the cars being auctioned didn’t sell. Funny thing, at the end of the broadcast they mentioned the highest seller of the day (GT40) but no mention of the 917.
They did a nice tribute as well for JK who passed earlier in the week.
I’ve been to Barrett Jackson and 99% of the cars they offer have no reserve.
I thought RM Auctions would have been a better venue for that car. Only a select few could afford something like that car

[greglepore]

I said 30 earlier and suspect the reserve was near that. I believe that Jerry thinks that this particular 917 is worth what a Ferrari GTO is (where the 30 number came from) and I'm not sure he's wrong.
No, he doesn't need the money, but that's why he can hold it if necessary.

[javadog]

GTOs have sold for quite a bit more than $30M,,,

[HobieMarty]

https://youtu.be/bgMmHMg_bk4?si=y-fXRGAd3wX4xXiu

Wow, the crowd went so silent that you could hear a pin drop. Not a good look for Mecum for sure.

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[917_Langheck]

Selling wine crowd merch to a beer crowd, not going to work.

Car was on the wrong side of the planet, let alone with the wrong vender.

[Billiam 911 2.8]

An increasing percentage of Mecum sales come from internet and telephone contact. Having said that, the "whales" in the car collecting world know how to contact each other.
I think Jerry Seinfeld knows what he has and maybe this was just a way to get a price to work with when the car does actually change hands.

[tdw28210]

Have a buddy in the transport industry that does a lot runs on the I-10 and I-40 routes for high-end cars. He said there is apparently some speculation floating around that Dana Mecum actually owns the 917 already, not Jerry. He said that if you listen carefully to the announcements leading up to the 917 auction they never say Seinfeld still actually owns the car. I'm not interested enough to go back and listen to it, but it might explain why the car was up for auction where it was and why it has been so omnipresent at their previous auctions.

[porsche tech]

Or maybe there was no intention of selling it…strictly a promotional tool to get people to watch. The plot thickens!