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#21
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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. |
#22
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Sounds right and realistic. I like your brothers routine and it sounds like allot of fun.
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#23
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"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.
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LEAD, FOLLOW, OR GET THE HE!! OUT OF THE WAY!!! HONEST JERRY'S SPEED AND EQUIPMENT
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#24
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Quote:
There are 'dealer only' auctions but they mostly deal with late model used cars, not specialty or classic cars.
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LEAD, FOLLOW, OR GET THE HE!! OUT OF THE WAY!!! HONEST JERRY'S SPEED AND EQUIPMENT
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#25
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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.
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#26
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"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. |
#27
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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.
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#28
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#29
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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.
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#30
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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. |
#31
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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. Last edited by Mcronk; 02-05-2021 at 12:31 AM. |
#32
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#33
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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
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Happiness is just a turbocharger away! 960 HP @ 11 psi, 9.70 at 146. Iron heads, iron stock 2 bolt block , stock crank, 9 years haven't even changed a spark plug! selling turbos and turbo related parts since 2005! |
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