Quote:
Originally Posted by sugarwood
If you want to buy a certain car, why not just find one directly?
|
Most people do...only about 10% of all classic car buy/sell transactions take place at auctions. Many of the high-profile car auctions have become more of an entertainment spectacle than a place to conduct business. As mentioned before, there's a lot of dick swinging, free drinks, and even a chance for participants to get some face time on TV. Mecum seems to cater to this type of clientele. Their format is more like a 3-ring circus than a serious car-buying venue. Harsh lighting in the tent and gaudy signs hanging everywhere; the auctioneer blabbing nonsense at warp speed; the bidder "assistants" yelling at the top of their lungs while prodding bidders to up their bid; the crowd on stage milling around the car being sold; and the ever-present TV cameras being stuck in the bidder's face.
Contrast this with a Gooding auction. They feature carefully designed lighting to highlight the features of the car being offered for sale; an auctioneer who speaks in plain English and encourages bidders with a sense of humor rather than screaming at them; a second official on stage providing factual information about the car, and in some cases, a first-hand driving impression; no gaggle of on-lookers hanging all over the cars on stage...the car itself is the main attraction; and no on-camera time for bidders or people in the crowd. Again, it's all about the cars here.
Quote:
Originally Posted by sugarwood
What is the advantage for a seller to use a live auction to sell his car?
|
Well, you may just luck out and have two inebriated bidders with deep pockets engage in a pissing contest over your car. Case in point: A vintage VW bus sold for an incredible $235K at auction in 2014. If it's a quick sale you're after, you can offer your car at no reserve and be pretty sure that it'll sell. The big risk here is that you may wind up with a much lower price than you expected.
Quote:
Originally Posted by sugarwood
It does seem odd to hand over $1 million for a Gullwing in someone's driveway
|
I would think that most transactions in this price range are handled thru a broker or other third party. Unless you know the seller personally, or both of you happen to run in the same social circle.