How to tell if you'll be in over your head

[oldag]

Close. Sellers pay an entry fee and commission; for No Reserve lots, it’s 8%.

https://barrettjacksonvip.com/blog/how-to-sell-a-car-at-a-barrett-jackson-auction

The buyers premium is 10-12%, and is added to the hammer price.

https://www.barrett-jackson.com/pdf/bid/AutomobiliaAuctionTerms.pdf

On a $100k hammer price, Barrett collects $115K -$117k, sends the seller a check for $100K, and retains $10K-$12K in earnings.

One event last year grossed $131M for ~1800 no reserve lots. That event grossed about $24M to B-J.

Not bad business if you can get it.

 

[Shady]

from a guy that bought a 71 el camino to restore at 6K for a heap you will never get your money out of them

As cool as they are unless its a diamond class restore its going to be worth 8-10K

The only exceptions might be 454 SS models .

 

[Axxe55]

All of the big auto auctions like Barrett-Jackson drove up the prices on many cars. Now every idiot who has something similar to what rolls across the stage at one of those auctions, thinks he's sitting on a gold mine.

Personally, too many people with more money that sense, started bidding on those cars, driving the prices way up, and many of them are simply using them for investment purposes, and not actually enjoying them as they were meant to be. When they get tired of that investment, they move on to something else. They drove the market to where the real car enthusiasts can't afford it anymore.

 

[ZX9RCAM]

People with more money than sense is the only reason Barret Jackson is a thing.

 

[Axxe55]

People with more money than sense is the only reason Barret Jackson is a thing.

It's no place for people who don't have very deep pockets. I do enjoy watching the auctions on TV. Some really cool cars go up for auction.

 

[SQLGeek]

All of the big auto auctions like Barrett-Jackson drove up the prices on many cars. Now every idiot who has something similar to what rolls across the stage at one of those auctions, thinks he's sitting on a gold mine.

Personally, too many people with more money that sense, started bidding on those cars, driving the prices way up, and many of them are simply using them for investment purposes, and not actually enjoying them as they were meant to be. When they get tired of that investment, they move on to something else. They drove the market to where the real car enthusiasts can't afford it anymore.

You could have replaced "car" with "gun" and this post would be still valid. Happens to so many hobbies it seems.

 

[Axxe55]

You could have replaced "car" with "gun" and this post would be still valid. Happens to so many hobbies it seems.

Quite true. Boats, motorcycles, or just about anything for that matter.

Watch some of the videos on YouTube on radio-controlled hobbies. Some of those people spend massive amounts of money!