Amelia Werks General Parking Pass Available

[CVJR]

TAKEN 2/27 @ 11AM.
I won’t be going to Amelia Werks 2020 after all. I have a General Corral Parking Pass. PM me if interested. Chuck

[matt930s]

Bump

[sithot]

Russo and Steele cancelled:

"Citing marshy conditions and snakes, Russo and Steele cancels its 2020 Amelia Island auction."

I knew there were plenty of the 2 legged variety there but personally never saw a snake (not that I went looking)

[CVJR]

The Corral Pass has been taken.

[WSH]

Originally Posted by sithot

Russo and Steele cancelled:

"Citing marshy conditions and snakes, Russo and Steele cancels its 2020 Amelia Island auction."

I knew there were plenty of the 2 legged variety there but personally never saw a snake (not that I went looking)

Translation: Crappy auction in their 2nd year there couldn't secure enough quality vehicles to warrant an auction. RM, Gooding and Bonhams have Amelia locked up. The crappy auctions ( Motostalgia, Hollywood Wheels) have always been train wrecks at Amelia.

[sithot]

Originally Posted by WSH

Translation: Crappy auction in their 2nd year there couldn't secure enough quality vehicles to warrant an auction. RM, Gooding and Bonhams have Amelia locked up. The crappy auctions ( Motostalgia, Hollywood Wheels) have always been train wrecks at Amelia.

IF you know what you're looking for some deals can be found. I agree the "2nd tier auctions" don't have the best inventory but not everyone goes to Amelia seeking a half million dollar car. A friend picked up really nice E Type a few years ago and with a little TLC he now has a very nice car for 50 cents on the dollar.

Don't believe for a minute that the "bigs" haven't sold some losers. The contractual language holds them harmless.
You bid, you buy, you own.

BAT has cut into the bottom line of some of these places. Smart play, imho.

BaT Guide: How Classic Car Auction Fees Work
One of the most mysterious aspects of automobile auctions is the fee structure for buyers, sellers, and watchers. Questions abound at car auction? How much does the seller keep? How much is tacked on to the winning bid? Are the announced ‘sale results’ including these fees? Every auction company does it a little bit differently, but it is one of the most important aspects for anyone looking to buy or sell a vehicle at auction. We’ve put together this comparison of the fees posted by many of the most notable auction houses, both of the traditional in-person variety and the online type.

Traditional auction houses offering in-person bidding are worth considering, however it’s also worth remembering that they frequently have some of the highest fees in the industry. They have to pay for those tents and Hollywood stage lighting and all those staff members somehow, right? Here we break down fees charged by several of the better-known classic car auction houses, for both buyers and sellers.

Bonhams Auctions –*They publish their fees and policies on their*Charges and Commissions to Sellers site here.
• Seller’s commissions rates
• “Please contact the department for details.”
• Loss and damage warranty fee
• “1.5% of the hammer price of each lot if sold, or if unsold, 1.5% of the average of the high and low estimates.”
• Additional charges
• There may be additional charges for restoration, shipping, packing, storage, custom duties and import tax, if appropriate. These charges will only be made, however, if you have agreed to them beforehand.”
Fees for buyers vary country-by-country, though in this case we’ll focus on the system in place for USA-based buyers. See Bonham’s full list of buyer’s fees as broken down by local laws here.
• Cars
• “10% on the hammer price of each lot.”
• Motorcycles
• “15% on the first $100,000 of the hammer price, 10% on the excess over $100,001 of the hammer price.”

Barrett-Jackson Auctions – Fees for sellers are provided by this link, as fee breakdowns on B-J’s site are somewhat scattered and difficult to find. As with Bonhams there seems to be many technicalities and added charges that may be applied in certain situations, but as a general guide fees are reportedly charged as follows:
• Cars valued under $150k
• All cars valued under $150k are offered without reserve. In this case consignors are charged an 8% seller’s fee after the car is sold.*A flat 10% bidder’s premium applies.
• Cars valued over $150k
• Cars valued over $150k may be offered with a reserve, however in this case sellers will pay a higher 12% commission. The same flat 10% bidder’s premium applies.

Gooding and Company – Gooding posts their bidder terms here on their website.
• Sellers pay a commission that is privately negotiated and typically between 0% and 15%
• Buyers pay a 10% commission with no limit**
• Buyers can also be charged storage fees if they do not collect the vehicle by the auction’s prescribed schedule

RM / Sotheby’s Auctions – RM only publishes their terms in their paper catalogs for each sale, so there are no links outlining fees online. The information here was taken from their Paris 2016 catalog.
• Sellers pay a commission that is privately negotiated and typically between 0% and 15%
• Buyers pay a 12% commission with no limit on automotive lots
• Buyers pay a 17% commission on non-automotive lots
• Buyers can also be charged storage fees if they do not collect the vehicle by the auction’s prescribed schedule

Mecum Auctions – There is a complex list of required and optional charges at Mecum as outlined here on their Selling Page.
• Sellers pay “as low as” 5% commission plus anywhere between $250 and $1000 depending on their desired run time or “Star Car” status
• Other fees apply if cars are withdrawn or changed, and can vary by auction and even by lot
• Buyers pay a commission between 5% and 10% plus other fees/deposits/memberships depending on their bidding method**
• Internet bidders need to post a 50% deposit, and phone bidders a 20% deposit. Live bidders join with a paid membership or a $500 charge hold on a credit card.

eBay has been around for more than twenty years now, so while many may not consider them to be traditional, they’re certainly well-established. While other fees can vary, buyers pay nothing but the agreed-upon auction price to the seller. This leads to a high “flake rate” however, with lots of seemingly successful sales ultimately falling through—ever notice all the “re-listed due to non-payment” listing descriptions on eBay? Here’s a breakdown of their fees as sourced via their own*eBay resources page here.
• Fees for low-volume sellers*(up to six cars submitted—not necessarily sold—per year)*
• There are no “insertion” or listing fees charged to sellers eBay considers low-volume, however there are flat fees charged for successful sales—these are $60 for a car or truck that sells for under $2k, and $125 for vehicles sold over this threshold.
• Fees for high-volume sellers*(seven or more cars submitted—not necessarily sold—per year)*
• Things are somewhat reversed here, with a $50 insertion fee across the board and nothing charged for a successful sale.

Frustrated by many of the shortcomings of more traditional venues including high prices, our number one goal for BaT Auctions was to streamline and demystify the process for all—toward that end our fees are very simple:
• Sellers pay a flat fee of $99
• Whether the car sells or not, you pay just $99 to list your car with BaT Auctions.
• Buyers pay 5%
• If you win a BaT Auction we charge 5% of the final bid price, with a minimum fee of $250 and a max fee of $5,000. The fee for sales higher than $100,000 is capped at $5,000, thus it ends up less than 5%. The fee on a $1,000,000 purchase on BaT is 0.5%.

Ex: The recently sold on BAT 240Z hammered for $310,000. Do the math.^^^

Paid BAT $99 to list and the buyer paid $5,000. (the maximum commission).