Quote:
Originally Posted by voitureltd
I suppose it can depend on lots of uncertain variables, economy at listing vs sale time, people in attendance, auction location, the weather sale day, all reasons I have paid the extra $$$ for a reserve.
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Yep, all valid reasons
NOT to list it without a reserve. Your economy at listing vs sale time is a prime example of why some (possibly many) no reserve cars in the January auctions could sell for less than what the seller’s want and/or expected. When they initially agreed to a no reserve auction, the economy (markets) were in much better shape than they are now, and while we could see a recovery between now and the time of the auctions, that’s not all that likely. And it’s very possible that it could get even worse, which might keep bidders at home, or lessen bids of those that do attend. Maybe the recent market route doesn’t spillover into the collector car market, but I wouldn’t bet on it, I’d suspect there is some correlation there. You wouldn’t tell your stock broker in October (when you agree to the consignment) to sell your Amazon shares at the market on close on January 17th regardless of where they are trading at on that day. Why would you do that with any other asset class? Rhetorical.