[PontiacJim1959]

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.

[Brewster]

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

[Jerry H.]

"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.

[Jerry H.]

Originally Posted by PontiacJim1959

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.

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.

[JJDeville]

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.

[necdb3]

Originally Posted by JJDeville

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.

[JJDeville]

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.

[PontiacJim1959]

Originally Posted by Jerry H.

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.

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.

[tigergto]

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.

[PontiacJim1959]

Originally Posted by tigergto

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.

[Mcronk]

Originally Posted by Jerry H.

"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 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.

[Mcronk]

Originally Posted by JJDeville

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.

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.

[turbo69bird]

Originally Posted by burd

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.

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