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#008 at Barrett Jackson


just-larry

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Serial #008 is scheduled to be sold at Barrett Jackson, late January in Scotsdale, AZ It will be interesting to see what knid of $'s it pulls. Most all cars at BJ are sold with "no reserve".

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Serial #008 is scheduled to be sold at Barrett Jackson, late January in Scotsdale, AZ It will be interesting to see what knid of $'s it pulls. Most all cars at BJ are sold with "no reserve".

 

 

 

Keep in mind that "No Reserve" is pretty much a marketing ploy as the BJ seller has the right to "cancel out" the winning bid by placing a bid of their own after the auction is over.

 

Basically if the seller doesn't like the winning bid they can place a higher bid themself and in a nutshell win the auction by outbidding the wining bidder after the auction bidding has closed. The drawback is that they have to pay BJ both a seller and buyer fee compared to just a sellers fee.

 

Doesn't seem right but from the BJ viewpoint they make a few more dollars letting sellers do this.

 

Steve

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Keep in mind that "No Reserve" is pretty much a marketing ploy as the BJ seller has the right to "cancel out" the winning bid by placing a bid of their own after the auction is over.

 

Basically if the seller doesn't like the winning bid they can place a higher bid themself and in a nutshell win the auction by outbidding the wining bidder after the auction bidding has closed. The drawback is that they have to pay BJ both a seller and buyer fee compared to just a sellers fee.

 

Doesn't seem right but from the BJ viewpoint they make a few more dollars letting sellers do this.

 

Steve

 

I think the Barret-Jackson is a great event and they do a wonderful job. I was there back in 2006 when Mr. Shelby was there. It was worth the money and time I spent. Mr. Shelby and his team are great people that went out of their way to make everyone happy. Not an easy job, but the seem to pull it off.

 

I will be there to see what she does. It is lot number 56. The car goes off on Tuesday. The only problem with that is, traditionally Tuesday doesn’t seem to bring in the big money, but time will tell. My two cents is the more this car does, is the more our cars are worth.

 

GT2NV

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Keep in mind that "No Reserve" is pretty much a marketing ploy as the BJ seller has the right to "cancel out" the winning bid by placing a bid of their own after the auction is over.

 

Basically if the seller doesn't like the winning bid they can place a higher bid themself and in a nutshell win the auction by outbidding the wining bidder after the auction bidding has closed. The drawback is that they have to pay BJ both a seller and buyer fee compared to just a sellers fee.

 

Doesn't seem right but from the BJ viewpoint they make a few more dollars letting sellers do this.

 

Steve

 

 

I am not sure I would agree. Last year we purchased a 66GT350 Convertible (1 of the 12 that Carroll and Beverly Hills Mustang did in the early 80's. The exact same car can be seen is SAI Museum (blue with white top, white interior, and white stripes).) Shortly after we purchased our car, we left to watch the rest on TV. I woud say within 1/2 hour we received a call on our cell phone from the seller who indicated (1) he was protesting the sale, (2) he and his attorney had already talked to B-J, (3) he had tried to buy back the car before the gavel went down, and (4) B-J had reviewed the tapes and agreed with him. Well, you can imagine how upset my wife and I were. Next morning (Saturday) I went into the B-J offices and they made it emphatically clear to me that (1) the sellers ARE NO LONGER able to buy their cars back (doesn't stop someone from having a pre-registered and approved buyer FRIEND who could purchase the car), (2) when I signed the paperwork while the auction was going on (watch any of the B-J shows from last year - that slip of paper is the actual title transfer) I had already purchased the car, and (3) only if my wife and I did not want the car could the sale be cancelled. Well, we kept the car, B-J stored it in a secure location, and the seller tried for weeks (even after we already had the car) to fight B-J. Just an interesting note - this particular car auction was televised, and it recorded the seller trying to raise the price over me by $5K. The auctioneer looked down, said he was not recognized as the seller to bid, and the gavel fell.

Not saying it can't happen, but didn't happen to me in spite of the seller's attempts.

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Not saying it can't happen, but didn't happen to me in spite of the seller's attempts.

 

Rich my info is from two or so years ago when I last attended BJ. If your info is correct, which I have no reason to doubt, it sounds like BJ is starting to correct these little things that have been turning buyers off.

 

Now if BJ would start addressing these auction "friends" perhaps more common folks would have faith in the BJ experience.

 

Steve

 

PS- Glad your purchase worked out for you and hope you're enjoying it :)

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