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3 GNX's at Barrett-Jackson This Weekend

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1owner87 said:
my thoughts on bj auction...

look at me.
im on tv
i have way more $$$ than you.
look what i just paid for this one.

its called"status"
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On some cars, yes. (The 1968 Mustang "Eleanor" clone going for $220k plus fees on Friday comes to mind). On others, you can get some decent deals.

I am curious to see what LEE1 from The Dukes of Hazzard goes for. I can safely say, if I had more money than I knew what to do with, I'd bid stupid cash on that car. :D

spikestta said:
I do enjoy watching Bj but, I say the same thing every year way to many commercials. It drives me nuts!
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Mark Parks said:
That's the reason I record it and watch a 5 hour show in 45 minutes!!!
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Mr. Parks has the right idea. :cool:
 
i agree! its a big rush to actually be there bidding on a car you really want, next thing you know you overbid on a car you can find elsewhere at a much more affordable price....that GNX was way overpriced for 66k...
buyer was an uneducated buyer
1owner87 said:
my thoughts on bj auction...

look at me.
im on tv
i have way more $$$ than you.
look what i just paid for this one.

its called"status"
Click to expand...
 
Wow, all over the board on prices! 24kmiles-66k, 1200miles-80k, 275miles-64k, all before commision by both parties. I think that B.J. is mostly for those where money is the least of their worries, I tend to agree with you LC2ROD. I wonder what real criteria is behind who buys and sells at this auction. How does a 275mile car fetch 64or65k and a 24000mile car fetch 66k ? Was the 275mile car a pile of crap ? Any opinions on this one people ?
 
One would have to actually inspect the cars to determine if there were any logic to the sales price. Could be an interested party was not present at the moment on one or more of the cars, Maybe the first buyer thought that the other 2 would be way out of his range so he went hard on the 24K mile car. The 1200 mile car could have had 2 guys with a beef on who had deeper pockets and then one bows out and buys the 275 mile car while the buyer of the 1200 mile car blew his wad already and was not involved to bid up the last car. You would have to be there and watch exactly who the bidders are to see if any of these games are even a possibility.
Another thing to watch for at any auction like this is a shell game by the auction. A perfect example is a late C2 corvette. The car shows up and it is from a private collection. Bidding starts and goes to a certain point and stops. Then 2 new players come into the game and go at it and bid the car up. Bam, the car sells for big money and the auction claims to have set a new bench mark for the value of these cars. Behind the scenes, the car goes back into the original collection it came from as the whole deal was a set up from the start as the owner of the car is a "friend" of the auction.
Then there is the status thing that was previously mentioned. I think BJ has the most hype before, during and after and the most bragging rights when you are able to tell someone that you bought a car at a BJ auction. I think Mecum is on the lower end of the list. If you were at a party and wanted to brag, would you be more proud to state you bought a car at a BJ auction or a Mecum auction?
I am an appraiser and watch the market as part of my job as I complete quite a number of stated value appraisals. The market was its best in the 2006-2007 range. When the housing market went south and the banking crisis came up at the same time, the market went in the toilet and has never been the same. Don't think it will ever get to those levels again as money will never be that easy to obtain again. They have corrected the program to avoid the situation from ever happening again. The market will go up when the economy recovers a bit but have no idea when that will happen. Need to have someone in the whitehouse that the country is happy with before any significant improvements.
 
Holy crap, a Tucker just sold for $2,650,000!!!! My great uncle must be rolling over in his grave. Was one of the investors in Tucker and lost his shirt when the company went under.
 
Turboj


Prices where through the roof!! I was shocked at how high the prices where for ALL types of cars this week. GNX's are back to where they where in 2008 for the most part.

10 years ago you could have bought a low milage GNX for below sticker.

Pete
 
DJ Red Barron said:
On some cars, yes. (The 1968 Mustang "Eleanor" clone going for $220k plus fees on Friday comes to mind). On others, you can get some decent deals.

I am curious to see what LEE1 from The Dukes of Hazzard goes for. I can safely say, if I had more money than I knew what to do with, I'd bid stupid cash on that car. :D



Mr. Parks has the right idea. :cool:
Click to expand...

I know I'm quite a bit older than you Barron,BUT Mr Parks??? LOLOLOL How you doing?
 
That's the risk you take at NO RESERVE auctions. Your whole sale depends on how many people in the crowd have interest in your car at that particular time of the auction. We all know that a 200 mile GNX is worth more than what it sold for. Just like a lot of other consigners the owner of that GNX is kicking him self in the ass.
 
cruzn57 said:
PLUS.........
10% seller fee ($6600)
sales tax ( 8.95%) ( $6497)
transaction fees. ( avg 350 to 650)
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10% = $6400
everyone has to pay sales tax (6.25% in Massachusetts and 0% in New Hampshire)
Bottom Line is seller of that car received $64K for his car.
 
All of the sellers pay 8% plus any auction fees! Wow! I guess the seller of the 275mile car probably walked away with about 59000.00 for his car. I was actually thinking about bringing my 1026mile gnx to B.J. in Las Vegas in Sept. when we're there for vacation, not so sure now. There is no way my car leaves here for less than 75k period in any market. Our generation is getting older now and cars of the 70's and 80's which are over 25yrs old now are getting to the forefront of the buyers market. Just my Regal Opinion !
 
I think a buyer will buy the car that's in the best condition. Do some research on the 275mile car like I did today. Many of the pics show a lot of flaws for such low miles, paint and chassis nowhere near the condition of many higher mile cars I have seen.
 
nick19 said:
I think a buyer will buy the car that's in the best condition. Do some research on the 275mile car like I did today. Many of the pics show a lot of flaws for such low miles, paint and chassis nowhere near the condition of many higher mile cars I have seen.
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Yeah these cars were real tough to unhook the odometer on :p
 
Your right its very difficult to unscrew the cable thats why I have a extra cluster with 7mi on it:eek: It may be the lowest millage gnx when i sell it;)
 
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