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I've seen a lot of confusion and misunderstanding of auctions, so i figured I would create a thread for it. I kind of want this to be a dual use thread, with a game running through it where someone picks 5 cars from Mecum, and people try to guess what they go for, with the winner determined by total amount out. The first few at least will be self counting, honour system type stuff. Auction types Dealer auction: cheapest prices, but you need a broker to bid for you or a dealer's license. Public automotive auction: Most expensive, you can consign a car, open to anybody. Many of these pad their lots with dealer auction items, with a reserve Public general auction: Sometimes have cars, people don't usually go looking to buy cars open to anybody Police auction: Usually seized or abandoned cars, most are junk, lots of extra rules, open to anybody Industrial auction: Often have a few cars, sometimes interesting stuff, open to anybody Government auctions: GCsurplus.ca Govplanet.com Online auction: bringatrailer, ebay, etc Buying at an auction -Don't fool yourself, this is gambling. You might get an amazing deal, you might get a turd, bid accordingly -Inspect stuff beforehand. most auctions have viewing days, some let you in any time to see what's there. Most ebay buyers will let you check it out if you're local -Keep your emotions in check. The entire enviroment is designed to get you spending. like gambling, set a limit stay within it -Have fun! you don't need to buy anything. people watching and being amazed at 500k accords going for $6k is half the fun -First few cars and last few cars are generally poo poo but have smaller crowds. this is where you find $50 cars and $1000 BMW beaters -If looking for a new daily, research the cars you're interested for common faults you can inspect. subframe tears and control arm rust type stuff. -Observe for your first one. look for games bidders and buyers play. Every auction has it's own personality. -If you need a project, check for non-runners! -Watch for cars in inappropriate auctions. Cars usually go cheaper in industrial auctions than they would -Go with friends, laugh at bad cars and high prices Selling at an auction -Auctions charge between a flat fee all the way up to 30% commission. At some auctions this percentage is negotiable. -Do your due diligence in cleaning, but don't paint unless you're going for a perfect look. hastily over-prepared cars is the red flag of a flipper -If you are unfamiliar with the auction house, watch your car go through. Some play stupid games -Never bid on your own car, or have a friend do it. Some auction houses will really nail you if you get caught -My strategy is to dump it and get what i get. I've never really been upset
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Oct 23, 2019 17:24
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| # ? Apr 19, 2024 13:45 |
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Game 1: Mecum Chicago 2019 To start we'll just do a more casual game, if there is interest we can start some scoring system with spreadsheets and such. 1965 Econoline - 289 with an automatic https://www.mecum.com/lots/CH1019-389311/1965-ford-econoline-pickup/  1959 Isetta - 26hp with a 4 speed, and 130 miles on full restoration https://www.mecum.com/lots/CH1019-389312/1959-bmw-isetta-600/  1979 Power wagon with literally dozens of horsepower from a 318 https://www.mecum.com/lots/CH1019-402893/1979-dodge-power-wagon-pickup/  2002 Viper GTS, 1 of 360 final edition https://www.mecum.com/lots/CH1019-389359/2002-dodge-viper-gts-final-edition/  1971 VW squareback. 4 speed, new paint, slightly lowered. Brown manual wagon https://www.mecum.com/lots/CH1019-389436/1971-volkswagen-type-3-squareback/  You can just quote this chunk to make your guesses 1965 Econoline: 1959 Isetta: 1979 Power wagon: 2002 Viper GTS: 1971 VW squareback:
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Oct 23, 2019 17:33
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