[JMS935]

Originally Posted by MichaelB

Let me just ay that I have sold several cars with Gooding. All very nice, and all at no reserve. I think what is missing in your thought above is that a premium auction house (like Gooding & RM) brings with it a certain qualification or quality of car. That often times nets a higher sell price because the buyers feel that they have some comfort in the association with their representation. Not to mention their buyers are mostly made up of well vetted individuals ~ and when a room is full of those types it will most likely end up to your (and the auction house) favor.

It really does work that way. I find from actual experience that sharing a small percentage with the auction house for putting me in touch with their buyers has worked to my advantage. Risk has not been in the equation.

At the upcoming January Gooding in Scottsdale there are many no reserve wonderful cars that are crossing the block. Take a look:

https://www.goodingco.com/vehicles/?url=1&venues=XX&auction_years=XX&countries=XX&cat egories=XX&makes=XX&models=XX&est_low=0&est_high=1 0000000&model_year_first=1884&model_year_last=2018 &reserve=no&estreq=no&perpage=48&showpage=1&timeli ne=upcoming&loggedin=&time=1545449008

Proving that to just blindly say "never" do this is just much too conservitive for the car guys like me.

It’s not a risk I would ever take, I don’t see the point of it. I’ve heard of pretty bad stories of no reserve car auctions selling for far less than they were “promised by the auction house” to sell at. With some even questioning the legitimacy of the auction process itself afterwards. I think the entire collector car auction industry has the collector car hobby duped into thinking that they’ll get more money without a reserve (when it’s actually for their benefit to increase their sell through rate), but that doesn’t make any logical sense though. Buyers go into an auction with a set price they’re wiiling to bid a car up to, I’ve never heard of anyone that adds a premium to it simply because the car is listed at no reserve. You’ve gotten lucky up till now, no reserve will eventually burn you at some point. I would rather protect my asset(s) with a reserve I am comfortable with, and just pay a slightly higher commission on it. Or ship it home if it doesn’t meet my reserve, that ensures I’m not getting screwed with a lower than expected hammer price. It happens, I’ve seen it, I’d just choose never to put myself in that position.