Mecum Silliness
 

This price! Have people lost their GD minds down there?

https://www.mecum.com/lots/PG0121-45...iac-gto-judge/

What did it go for?

$181,500

Last weekend and this weekend, the money being thrown around for mediocrity is remarkable

There was over a dozen '69 RAIII Judges that sold for high prices @ the 2014 BJ event. While none went this moronically stupid high, their sales price considerably moved up the pricing levels of '69 Judges in the "value" guides (both printed & online) Within 8 months to a year, the ridiculous value guides pricing had fallen more in line with reality.

:eek: How is that even possible? $181.5K for a normal, low-optioned ’69 Judge. I’m astounded. There must have been some extenuating circumstance like proceeds to charity or something to explain this.

Looks like a pretty nice driver, nothing more.

WOW! thats some strong $$ for that car

A lot of the cars Mecum sold from the Treworgy collection brought very strong money. But yeah... this Judge stood out to me as one of the "off the charts" ones.

It’s not hard to get caught up in the moment, Auctions pressure people to pay more. I’m sure some here got caught up overpaying for something on E-bay.

crazy
69 LeMans hood pull
wrong master cylinder
cheap seat covers
shaved air cleaner foam
too long of breather hose pass valve cover
no plug wire brackets
emblem too high on glove box
painted inner fender hardware
stickers on the fan shroud
ram air cable position by booster
wrong radiator passenger tank
wrong 15" wheels n tires
screws in valance chrome
dash tach and NO rally gauges
no chrome on ebrake pedal
open faced alternator and gold pulley n fan ?
1 carb spring
repro inside door releases and armrest bases ick
and we dont even get any underside pics or trunk ....
painted steering wheel
big bucks ...
easy stuff to do right the first time

Wow, did Steve McQueen own it or something??

The '70 Judge right behind it sold for $115,500. Also a RAIII, 4-speed car. The alcohol must have been over flowing.

Although surprising, it bodes well for us Pontiac owners...as long as we're not buying. :clap3:

2 rich boys having a pissing contest

There are people with plenty of money and little knowledge.

Yup this is why chevys bring so much cash comparatively. No one knocking the high sales, clones, remakes, rebodies, they cheer them on, make excuses for changes, clones everything because they know a happy buyer after the fact helps keep the prices up. That’s why restamps in corvette world are commonplace and no one cares. Because the more happy owners the more value cars continue to have. I have a friends who love Pontiacs but do 90 percent chevies and vettes for in their collections. Easier to restore, easier to sell, A guy buys a Pontiac at auction it gets picked to death after, think he’s gonna buy more? Nope. Says screw this I’ll do another Chevy and be happy.

Not saying one way or the other is right, just saying very different mentality between owners. So far the Chevy set has profited handsomely from it.

I attend Mecum in Kissimmee every year. Every year it seems more money is paid for less car.

Most of us on this site are "educated" on Pontiacs and are more discriminating than the average "deep pocket" bidder at these auctions.

I said this before, these auctions are great car shows. You can see a wide variety of makes and models. So for the person who wants the opportunity to see a lot of cars and possibly purchase one it is a enticing venue. You don't have to scour the internet looking at cars stretched from one coast to the other. Travel great distances to put eyes on a car. Or deal with any of the other headaches buying a car long distance. Just raise your hand when you see the nice shiny car you like.!

There is a lot of money out there right now. The stock Market finished the year very strongly. I think some folks are spending some of their profits.

Still i cannot fathom why that Judge brought so much. I decided not to attend because there were not that many Pontiacs and I knew they would be bid up above reasonable value.

Food for thought. Want to create a perception in the market? You and your buddies get together and bid a car you are selling way up.
You put a reserve ridiculously high and let your buddies know not to bid above it. Then the guy with deep pockets who really wants the car has to overpay to get it. But because others are bidding that high he thinks it is legit.

The fact the 69 Judge outsold the 69 Trans Am still has me scratching my head. They sold back to back. The Trans Am sold for 165K. The Judge did not claim to be Numbers matching either.

Hate milk-um. Will not watch. When their guy said that the dryer hose on a car was stock, I was done. Everyone wants to be like BJ.

Mcronk - Just raise your hand when you see the nice shiny car you like.!

My brother was there and likes to attend these events. He told me you can't just get in the audience and raise your hand and bid on a car.

You have to be a car dealer - documented. Then if still interested in bidding, you have to supply a bank account number so the auction people can verify your funds available.

I always thought the bidding was open to anyone. He said nope. This protects the sellers should you get some guy who just wants to bid and then doesn't have the money to back it up and the seller loses the sale. Makes sense. He said you can walk through the areas where the cars are kept to be auctioned, which is like walking through a car show and what he does along with watch the bidding.

Sounds right and realistic. I like your brothers routine and it sounds like allot of fun.

"Food for thought. Want to create a perception in the market? You and your buddies get together and bid a car you are selling way up.
You put a reserve ridiculously high and let your buddies know not to bid above it. Then the guy with deep pockets who really wants the car has to overpay to get it. But because others are bidding that high he thinks it is legit."

That's called 'shill' bidding and highly discouraged in the auction business. BTW, the bidders pass at Mecum is usually $200 so all your buddies would have to pony up $$$. Highly unlikely.

Not correct. I've been to several Mecum events as a bidder and I'm not a dealer. As long as you pay the appropriate bidder's fee anyone can bid. If you are not a dealer you will be liable for any sales taxes in your state.

There are 'dealer only' auctions but they mostly deal with late model used cars, not specialty or classic cars.

I agree with Jerry. You have to present a bank letter to be able to get a bidder badge whether you are a dealer or an individual. I have bought and sold in auctions for years. I have done OK selling and I done OK buying. Best advice I can give is “May the buyer beware”. When you bid it off, it is your car, there is no warranty or post sale inspection. You better be a big boy! That being said, I have seen some good buys come through when I wasn’t really looking to buy. The auction cars are usually a better buy than the junk on Marketplace.

I have purchased bidders passes at Kissimmee the last 11 years. I never have provided a bank letter. I get the same bidder number every year. I guess it's possible that the rules changed and I'm grandfathered.

"Buyer beware" just as it is buying from an individual. There are a lot of nice cars but there is also a lot of garbage. I agree with Mark Cronk that it's a great place for warm weather, a large car show, and the possibility of buying a car without searching the earth.

Sounds like Mecum has issued you a “Gold Card” type deal. That is great! I have a deal like that an equipment auction I deal with after I built a relationship with them. It makes it easier. Regular streetwalkers have to fill out the bidders form and provide a letter of credit.

Ok, interesting. I will have to run that by my brother and get his response. He has been going to the auctions at the Mohegan Sun casino in CT for many years. I am not sure if the Mecum was the first Mecum he has attended - so maybe different requirements? I was a little surprised myself, because it did not seem very equitable for the average guy, especially if there was a specific car I wanted to bid on - why should I have to be a dealer? So maybe a bank letter or bank inquiry by the auction would not seem unreasonable, but needing a dealer license seemed unfair to the average buyer.

I was planning on going to Mecum Harrisburg last year before the Covid shutdown. I’m not a dealer. I needed to provide financial information, but the auction was canceled before I was informed of what that information needed to be.

I did talk to my brother tonight. He said he assumed you had to be a dealer because he has gone online to see what it took to get into the bidding area. He said when he went online, he was asked for his dealer ID number, which he does not have. He knew about the bank certificate/financial info. So not having a dealer ID to enter, he went no further with it.

I told him what had been said here, and he was going to look further into it as he saw several older cars, and trucks, (original, not perfect, not restored) at Mecum that went for lower and fair pricing that he would have bid on if he had been in the bidding area.

Not so. My bidders pass was free this year and last year. Mecum had a special deal for certain car club members. Next year it changes and I have to pay 50% off retail for a bidders pass. Anyway $200 to these guys who spend upwards and over 6 figures on cars is chump change. Believe me shill bidding exists. Read the rules of the auction. The "house" is allowed to bid on a car. I have seen this happen several times. All I can say is I have attended this auction many years and have always had a bidder pass. They have changed policies and do have limits on how much you can bid up to based on financials you provide. But anyone can purchase a bidder pass. If you purchase a general admission pass you cannot enter the bidding area. Also they emphasize quite often that your bid is a legally binding contract. Upon registering for a bidders pass you sign paperwork that you acknowledge your responsiibilities. This keeps people honest on bidding. They can litigate against you for breaking the rules.

I have only attended the Kissimmee auction but would assume all their auctions are the same. You can log onto the Mecum website and join their newsletter and find all the information about how to bid in person, over the phone or on the internet.

Nope. Gold Card is $500 and gets you prefered seating and hospitality drinks/snacks and a few other perks.. We always get the standard bidders pass.

Guess it depends What kind of car had the dryer hose, I have a 61 mga and it pretty much had a glorified dryer hose stock. Lol