What's new
Fantasy Football - Footballguys Forums

This is a sample guest message. Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

Mecum / Barrett Jackson Auto Auction (1 Viewer)

Beef Ravioli

Beef Ravioli

Footballguy
Anyone ever been or bought a car from one of these or similar type of auction? I would love to hear any stories you have or someone you know. 

I know very little about cars and especially classic cars but the few times I have seen one of these shows there seems to be some nice cars that go a lot cheaper than I would have guessed.

 
Last edited by a moderator:
You pay a fee to buy the car between 5-10% and they charge you money to get in the door before you bid.  

A family friend recently bought a '56 T-Bird through Mecum and paid around $80,000.  After the auction there were all kinds of title problems and Mecum did nothing and there were a few issues with the car that were not disclosed beforehand.

I've bought and sold a few classic cars and would advise to steer clear.  You would be better off going on craigslist unless you are looking for something rare and more difficult to find.  I have watched some of the auctions on TV and don't see many sell for bargain prices, and you have to also factor in the fees.

Buying from a private party you can directly negotiate and talk to the current owner, who generally will tell everything good and bad about the car.

 
Last edited by a moderator:
Not sure what that auction is.  Is it a public auction or something else?  I have bought from a public auto auction...  

I was out running around with a pocket full of cash looking for a cheap car for my 16 year old.  Local dealer by me was having a "public auction"...  I thought, what the hell, let me check this out.. I go in there and say, "Whats up?  How do I do this?".  They copy down my license or whatever and give me a little sign to hold up when I want to bid... I watch a few auctions.. They bring the car in, announce what it is and move it on.  Bidding is still going on when the car is already been moved on.  I see a couple pretty good deals on some solid cars around $2000.  NOW I'M READY!  This white Chevy Malibu rolls by as I'm moving into positon to start my bidding.  Something happened with the bidding, so they start over.  "Anyone bid $400?".  I'm like, what the hell.. I raise my little sign.. "$400!"... Now remember, at this point, I didn't really look at the car, it is already gone.  I figured I could scrap it for close to what I paid for it.... I knew I was in trouble when not one other person put in a bid.  

The wife called and asked me what I was doing.  I told her I bought this car basically sight unseen for $400.  I told her, if the check engine light is not on and the windows all go up and down, I'll be pretty happy.  HOLY CRAP was this car a piece of crap.  Check engine light on.  Busted windshield.  No rearview mirror.  Passenger side mirror missing.  Pretty much no brakes.. ABS light on.  It did start and drive, but I was scared crapless driving it 2 miles home.  I put it up on jack stands.. Exhaust was gone.. Front end was completely shot!  Tie rods, ball joints, probably needed an entire rack and pinion.. Oh yeah.. was a 2000 Malibu with 185,000 miles on it.  My kid was like "We can fix it!!!"

It sat in my driveway for 3 weeks until the title showed up so I could take it to a local scrap yard and dump it.  Ended up losing about $100 after tax and title, etc.  :lmao:

 
top dog said:
Not sure what that auction is.  Is it a public auction or something else?  I have bought from a public auto auction...  

I was out running around with a pocket full of cash looking for a cheap car for my 16 year old.  Local dealer by me was having a "public auction"...  I thought, what the hell, let me check this out.. I go in there and say, "Whats up?  How do I do this?".  They copy down my license or whatever and give me a little sign to hold up when I want to bid... I watch a few auctions.. They bring the car in, announce what it is and move it on.  Bidding is still going on when the car is already been moved on.  I see a couple pretty good deals on some solid cars around $2000.  NOW I'M READY!  This white Chevy Malibu rolls by as I'm moving into positon to start my bidding.  Something happened with the bidding, so they start over.  "Anyone bid $400?".  I'm like, what the hell.. I raise my little sign.. "$400!"... Now remember, at this point, I didn't really look at the car, it is already gone.  I figured I could scrap it for close to what I paid for it.... I knew I was in trouble when not one other person put in a bid.  

The wife called and asked me what I was doing.  I told her I bought this car basically sight unseen for $400.  I told her, if the check engine light is not on and the windows all go up and down, I'll be pretty happy.  HOLY CRAP was this car a piece of crap.  Check engine light on.  Busted windshield.  No rearview mirror.  Passenger side mirror missing.  Pretty much no brakes.. ABS light on.  It did start and drive, but I was scared crapless driving it 2 miles home.  I put it up on jack stands.. Exhaust was gone.. Front end was completely shot!  Tie rods, ball joints, probably needed an entire rack and pinion.. Oh yeah.. was a 2000 Malibu with 185,000 miles on it.  My kid was like "We can fix it!!!"

It sat in my driveway for 3 weeks until the title showed up so I could take it to a local scrap yard and dump it.  Ended up losing about $100 after tax and title, etc.  :lmao:
Click to expand...
Funny story! That would be my fear.

These auctions are on TV and are high end cars that have been fixed up or restored to original status. 

 
Beef Ravioli said:
Funny story! That would be my fear.

These auctions are on TV and are high end cars that have been fixed up or restored to original status. 
Click to expand...
I would guess that if they are on TV, you would find better deals in other avenues on similar cars.

 
I love watching Mecum on TV. I know next to nothing about cars, seeing them as purely utilitarian since I have no money to splurge on something nice. But I’m enthralled with the history and the design, and that whole other world out there (so-called car guys). I also like to predict what a car will go for, too. Off by 100 grand this morning when a 1975 Rolls Royce went for $5000. I figured it was a six-figure car. But I’m getting better at those predictions. Nailed a Ford truck dead on yesterday at 22K.

Anyway, just saw that they’ll be holding an auction near me (Harrisburg) in late July and thought I might go. Looks like a lot of fun.

 
My dad is obsessed with the Mecum auctions. It's always on when I go to his house. I find some of the pricing to be bizarre -- a classic car from the '50s or '60s will only sell for $15,000 because it doesn't have a matching motor or because it hasn't been torn down/rebuilt, yet a 1983 Buick Skyhawk will go for $20K because it's in mint condition and only has 12,000 miles on the odometer.

 
[scooter] said:
My dad is obsessed with the Mecum auctions. It's always on when I go to his house. I find some of the pricing to be bizarre -- a classic car from the '50s or '60s will only sell for $15,000 because it doesn't have a matching motor or because it hasn't been torn down/rebuilt, yet a 1983 Buick Skyhawk will go for $20K because it's in mint condition and only has 12,000 miles on the odometer.
Click to expand...
Reminds me of a bigger scale of when I used to collect baseball cards.

 
I love watching them on tv.  In brutal honesty--I don't get much opportunity to watch tv--but when I do want to watch something outside of local news--I do enjoy watching some of the shows on velocity (including the auctions).   I really enjoy #####in Rides and Iron Resurrection as they give a cool glimpse at what goes into these amazing classic cars without the made for tv drama you find in some reality shows.   As an earlier poster said--watching the auctions is fun as guessing what each car goes for before the hammer comes down can be fun but yet surprising.  

 
Funny this thread was bumped as I watched Barrett-Jackson a bit last night, first time since I started this thread a couple of years ago.

I still wonder, if I’m not trying to buy a true classic, but a nice restored car, if there are good deals to be had? 

 
Beef Ravioli said:
Funny story! That would be my fear.

These auctions are on TV and are high end cars that have been fixed up or restored to original status. 
Click to expand...
That would be a very expensive assumption. Its true for some of them, but certainly not all or even most.Buyer beware and by a ticket for your mechanic to go with you

 
Beef Ravioli said:
Anyone ever been or bought a car from one of these or similar type of auction? I would love to hear any stories you have or someone you know. 

I know very little about cars and especially classic cars but the few times I have seen one of these shows there seems to be some nice cars that go a lot cheaper than I would have guessed.
Click to expand...
This!! I have been watching these for a while now and sometimes I’m amazed at how inexpensive some fun looking classic cars are going for. I’ve seen a few on TV I really wanted. 

Great timing for this thread for me—I actuslly am going to the Barret Jackson one in Scottsdale in a few weeks. Really looking forward to it. Tempted to bring my checkbook and see what happens, maybe do a little bidding if some fun looking car seems way cheap....

I cuttently own a “toy car” — a 1979 international harvester Scout truck, which is a blast. I totally dig the classic trucks.  But I’ve been jonesing for something like a 1970 Challenger or some other muscle car. Saw a purple one go on one of the TV auctions for like 25k and it was freaking gorgeous. 

 
Last edited by a moderator:
Otis said:
This!! I have been watching these for a while now and sometimes I’m amazing at how inexpensive some fun looking classic cars are going for. I’ve seen a few on TV I really wanted. 

Great timing for this thread for me—I actuslly am going to the Barret Jackson one in Scottsdale in a few weeks. Really looking forward to it. Tempted to bring my checkbook and see what happens, maybe do a little bidding if some fun looking car seems way cheap....
Click to expand...
Definitely document your trip for us!! 

 
Beef Ravioli said:
Funny this thread was bumped as I watched Barrett-Jackson a bit last night, first time since I started this thread a couple of years ago.

I still wonder, if I’m not trying to buy a true classic, but a nice restored car, if there are good deals to be had? 
Click to expand...
I check Craigslist for classic cars (50s through early 70s) on a regular basis, and every once in a while I'll come across a nice "semi restored" car for under $15 -- the kind of car that looks nice on the inside and out, but hasn't had every little part steam-cleaned and polished. I'd rather have that kind of car instead of spending $80K on the exact same model but polished and rebuilt from the ground up.

 
Last edited by a moderator:
Beef Ravioli said:
Definitely document your trip for us!! 
Click to expand...
Will do. Actually I’m in town for a work conference that weekend and there are a bunch of networking activities you can choose from. Usually it’s golf and some other lame stuff. I saw this on the menu and it was an instaclick. Psyched for it. 

 
[scooter] said:
I check Craigslist for classic cars (50s through early 70s) on a regular basis, and every once in a while I'll come across a nice "semi restored" car for under $15 -- the kind of car that looks nice on the inside and out, but hasn't had every little part steam-cleaned and polished. I'd rather have that kind of car instead of spending $80K on the exact same model but polished and rebuilt from the ground up.
Click to expand...
25k feels like the threshold for getting tons of awesome great looking classic cars. But every now and then something on the TV auctions goes for 10 or 15k and just stuns me. 

 
Otis said:
25k feels like the threshold for getting tons of awesome great looking classic cars. But every now and then something on the TV auctions goes for 10 or 15k and just stuns me. 
Click to expand...
The 10-15k is what I was referencing!  I think if you aren’t stuck on a certain car but getting a good deal, it’s out there. 

 
I think you're going to be less likely to get a good deal from a major auction house, since those companies tend to offer the types of cars that attract multiple bidders.

It seems to me that the best deals are going to be found on Craigslist or just plain word-of-mouth, from gearhead types who like to fix things and then re-sell them for enough money to pay for their next project.

 
[scooter] said:
I think you're going to be less likely to get a good deal from a major auction house, since those companies tend to offer the types of cars that attract multiple bidders.

It seems to me that the best deals are going to be found on Craigslist or just plain word-of-mouth, from gearhead types who like to fix things and then re-sell them for enough money to pay for their next project.
Click to expand...
You are probably right. I was wondering if most buyers are there for a specific high end cars and that may allow some good deals to slip through???

 
Beef Ravioli said:
You are probably right. I was wondering if most buyers are there for a specific high end cars and that may allow some good deals to slip through???
Click to expand...
Yeah I mean it’s clear some cheap cool cars slip through. Maybe they need work or aren’t all original or whatever, but for a dude just looking for something fun to drive around on a cool summer day, they’re perfect. Especially for the prices. 

 
Otis said:
25k feels like the threshold for getting tons of awesome great looking classic cars. But every now and then something on the TV auctions goes for 10 or 15k and just stuns me. 
Click to expand...
Has a lot to do with pedigree. If you just want a car to have fun in, you can buy a base model car that has an updated engine and looks pretty good from 15-20 feet. They will generally hold value but not appreciate.

If you spend extra for an original performance model that has the original engine it’s going to cost more, but your investment will also appreciate. The downside is that many people have a hard time justifying actually driving and enjoying these cars. This is usually what drives the differences in price, but it’s hard to know exactly what is going on with each car that passes by in these auctions without inspecting them in person

 
[scooter] said:
I think you're going to be less likely to get a good deal from a major auction house, since those companies tend to offer the types of cars that attract multiple bidders.

It seems to me that the best deals are going to be found on Craigslist or just plain word-of-mouth, from gearhead types who like to fix things and then re-sell them for enough money to pay for their next project.
Click to expand...
The only reason I see to buy at the auctions is if you’re looking for something in particular that happens to be rare. If you aren’t picky and just want a cool old car for a good price, there are a lot of deals on CL

 
Dickies said:
The only reason I see to buy at the auctions is if you’re looking for something in particular that happens to be rare. If you aren’t picky and just want a cool old car for a good price, there are a lot of deals on CL
Click to expand...
If you aren’t looking for a particular car, but something older and different, does CL have some type of search options that help you sort by years or something? 

 
Beef Ravioli said:
If you aren’t looking for a particular car, but something older and different, does CL have some type of search options that help you sort by years or something? 
Click to expand...
I don’t ever search by year. Just search the models that interest me. If it’s a very common model I may add the year too. 

 
Otis said:
Will do. Actually I’m in town for a work conference that weekend and there are a bunch of networking activities you can choose from. Usually it’s golf and some other lame stuff. I saw this on the menu and it was an instaclick. Psyched for it. 
Click to expand...
Sounds like fun. I saw a 1970 Ford Fairlane go for 2K this afternoon. I would have called in to offer double that had I been set up to do so. What a steal.

 
I’ve been to both but never pulled the trigger on a vehicle, they are actually pretty cheap to attend even to sign up as a bidder if you want. Barrett tends to be more high end, especially in the mecha-classic car areas (SoCal, parts of Florida, etc.) Mecum tends to have more reasonable prices but the quality and selection is lower. Depending on what part of the country you’re in, there can be better deals had in private sales like Craigslist but there’s also a lot junkers and overpriced fully restored or restored-modded vehicles to be picked thru on CL.

 Classic cars were a bubble In the 90’s & 00’s prior to the last big downturn in the economy but prices have now come down considerably on lightly restored, modified or not original type cars. If it’s not numbers matching, all original or frame-off restored, or some rare combination they only made a handful of it’s not going to demand top dollar anymore and might be a good deal. Plus Baby Boomers are dying off or getting too old to drive bringing down demand and that same group is also unloading nice cars that they overspent $ on restoring or at auction years ago. The ultra-rare and highly desirable cars still bring in tons of money from rich collectors though.

The hottest segment of the market was trucks from 50’s~80’s the last 10 years but that has pivoted IMO into SUV’s from the 60’s & 70’s like Jimmy’s, Blazers, Bronco’s, etc. you are also seeing some 80’s and 90’s rarer vehicles increase in price as Gen X’ers have entered their peak earning years.

 
I like watching Mecum and Barrett-Jackson, though I am getting kind of jaded on them, as it seems like the bulk of the cars that cross the block are Corvettes, Mustangs, Chevelles and Camaros; I would probably be thrilled to have any one of those, but they show up in such higher proportion to other cars out there that I just :rolleyes: when they come up. I also don't get the love for the Chevy II Novas. Hideous.

 
These shows are must see TV for me. My favorite is the stuff on Thursday and Friday before the cars get ridiculous. One day I will have that somewhat restored classic muscle car convertible. It's a bucket list item. So part of me feels like these shows are research. I would love for that car to come from one of these auctions as I really want to attend one really bad (so jealous of @Otis). 

And as far as pricing goes, there is a place here in town that sells only classic muscle cars. They have a couple locations here in the St. Louis area and one in florida and a couple other places. They make these auctions look like bargain shopping. 

 
cosjobs said:
That would be a very expensive assumption. Its true for some of them, but certainly not all or even most.Buyer beware and by a ticket for your mechanic to go with you
Click to expand...
Does anyone have a mechanic on a first name basis let alone someone to bring to an auction?  

 
The prices on 911s seem too good to be true.  Even early 80s 500sl going for stupid low figures.  

Jeeps on the other hand seem sky high.  

 
culdeus said:
The prices on 911s seem too good to be true.  Even early 80s 500sl going for stupid low figures.  

Jeeps on the other hand seem sky high.  
Click to expand...
Yeah, 500SL's seem to go super cheap on these auctions. I think people are afraid of the upkeep. 

And I'm seeing some weird stuff go for crazy money. Like a 1987 Toyota SR5 pickup restored to factory specs that sold for $50K and a 2001 Acura Integra that went north of $50K.

 
TheFanatic said:
Just found this on the local CraigsList. This is what I'm looking for, but not wild about the yellow.  I'm not married to a certain car. I'd love a 67 Corvette convertible with side pipes and a stinger on the hood, but that's not happening any time soon. This Torino would suit me just fine... Except for the bumble bee treatment. 
Click to expand...
Not sure how much more convertibles go over coupes, but there is an immaculate coupe here for $17,000 on Craigslist. There were a few convertibles in other models (cutlass, skylark, comet, fairlane) that were in the same $17,000 price range and looked to be good driver quality but would need a small amount of work to get real nice. 

Don’t settle for the first car you see. It took me 6 months to find the car I have now. There are deals out there, so focus on 4-5 models you really want and focus on those

 
Dickies said:
Not sure how much more convertibles go over coupes, but there is an immaculate coupe here for $17,000 on Craigslist. There were a few convertibles in other models (cutlass, skylark, comet, fairlane) that were in the same $17,000 price range and looked to be good driver quality but would need a small amount of work to get real nice. 

Don’t settle for the first car you see. It took me 6 months to find the car I have now. There are deals out there, so focus on 4-5 models you really want and focus on those
Click to expand...
I get that. I'm not looking to buy right now. But this car would be really tempting. 

 
Buckna said:
I’ve been to both but never pulled the trigger on a vehicle, they are actually pretty cheap to attend even to sign up as a bidder if you want. Barrett tends to be more high end, especially in the mecha-classic car areas (SoCal, parts of Florida, etc.) Mecum tends to have more reasonable prices but the quality and selection is lower. Depending on what part of the country you’re in, there can be better deals had in private sales like Craigslist but there’s also a lot junkers and overpriced fully restored or restored-modded vehicles to be picked thru on CL.

 Classic cars were a bubble In the 90’s & 00’s prior to the last big downturn in the economy but prices have now come down considerably on lightly restored, modified or not original type cars. If it’s not numbers matching, all original or frame-off restored, or some rare combination they only made a handful of it’s not going to demand top dollar anymore and might be a good deal. Plus Baby Boomers are dying off or getting too old to drive bringing down demand and that same group is also unloading nice cars that they overspent $ on restoring or at auction years ago. The ultra-rare and highly desirable cars still bring in tons of money from rich collectors though.

The hottest segment of the market was trucks from 50’s~80’s the last 10 years but that has pivoted IMO into SUV’s from the 60’s & 70’s like Jimmy’s, Blazers, Bronco’s, etc. you are also seeing some 80’s and 90’s rarer vehicles increase in price as Gen X’ers have entered their peak earning years.
Click to expand...
The 70's SUV's like the bronco and the toyotas in particular have been going for crazy money. Makes this that I just found when I expanded my search on Craiglist awfully tempting. 

 
Doesn't  a typical Barrett auction weekend work like Thursday they bring in parts and non-running type cars, Friday is drivers and street type nice cars, Saturday is more upper end but still not museum quality and Sunday is high end, one of x amount of vehicles ever made, type cars

I know I have always wanted to go on a Friday and see what they have. 

 
Anyone see any old Nissan Skylines? A couple of years are legal here now.  I want one pretty bad.

 
Courtjester said:
Doesn't  a typical Barrett auction weekend work like Thursday they bring in parts and non-running type cars, Friday is drivers and street type nice cars, Saturday is more upper end but still not museum quality and Sunday is high end, one of x amount of vehicles ever made, type cars

I know I have always wanted to go on a Friday and see what they have. 
Click to expand...
This would be good to know if this is the way they work. 

 
When I was looking to buy a cheap car for my kid, I went to a few local auctions that I had to pay money to attend.  At the third auction, I decided that there were sharks there, I was a guppy, and I stopped going.  

 
Going with my buddies to Kissimmee on Jan.12. Won’t be buying anything; just going to see it in person because we love the shows.

 
PIK95 said:
Anyone see any old Nissan Skylines? A couple of years are legal here now.  I want one pretty bad.
Click to expand...
A friend-of-a-friend bought a Fairlady 300Z in Japan and imported it here. It's got right-hand-drive, which is really cool except for the fact that it's a stick shift which makes it really awkward for right-hand guys. The total cost ended up being less than what it would have cost to buy one in the states. He said you can find good deals in Japan because culturally they don't like to keep old things. He offered to hook me up with one of his mechanic contacts in Japan but I'm too chicken to pull the trigger. Plus, I'm more of a MOPAR guy.

 
[scooter] said:
A friend-of-a-friend bought a Fairlady 300Z in Japan and imported it here. It's got right-hand-drive, which is really cool except for the fact that it's a stick shift which makes it really awkward for right-hand guys. The total cost ended up being less than what it would have cost to buy one in the states. He said you can find good deals in Japan because culturally they don't like to keep old things. He offered to hook me up with one of his mechanic contacts in Japan but I'm too chicken to pull the trigger. Plus, I'm more of a MOPAR guy.
Click to expand...
I think we are up to 1994 cars now, right? 25 years.

 
PIK95 said:
[scooter] said:
A friend-of-a-friend bought a Fairlady 300Z in Japan and imported it here. It's got right-hand-drive, which is really cool except for the fact that it's a stick shift which makes it really awkward for right-hand guys. The total cost ended up being less than what it would have cost to buy one in the states. He said you can find good deals in Japan because culturally they don't like to keep old things. He offered to hook me up with one of his mechanic contacts in Japan but I'm too chicken to pull the trigger. Plus, I'm more of a MOPAR guy.
Click to expand...
I think we are up to 1994 cars now, right? 25 years.
Click to expand...
Yes. Basically no restrictions on cars that are 25 years old (although California requires some inspections). The guy who got the Fairlady says that you could import a 1995 model if you had all the paperwork showing that it was manufactured 25 years ago (in 1994). But there's no way I'd want to take that risk when the government could confiscate the car and crush it into a tiny metal cube and you'd be S.O.L.

 
[scooter] said:
A friend-of-a-friend bought a Fairlady 300Z in Japan and imported it here. It's got right-hand-drive, which is really cool except for the fact that it's a stick shift which makes it really awkward for right-hand guys. The total cost ended up being less than what it would have cost to buy one in the states. He said you can find good deals in Japan because culturally they don't like to keep old things. He offered to hook me up with one of his mechanic contacts in Japan but I'm too chicken to pull the trigger. Plus, I'm more of a MOPAR guy.
Click to expand...
:hifive:

 
JackReacher said:
Do buyers pay brokerage fees as well at these auctions,  or just the sellers?
Click to expand...
Bidders typically pay a registration fee of $100~$500 plus have to provide a proof of funds for a down payment of some sort (credit card hold, cashier’s check, etc.) Generally included in the fee is admission all weekend, the more expensive fees get you like preferred seating and entries into other auctions throughout the year, which is useful if you are a collector wanting to get a specific car. The amts also vary by bidder type: phone and internet bidders generally have to pony up more. On top of that, the winning bidder pays a “buyers premium” on top of the purchase price. This varies by auction house but when I have seen a car I just factor in 10% on top as a rule of thumb.

Sellers pay a commission which varies based on what it sells for. They also pay a listing fee which increases by the day you want it auctioned. IDK about Barret or some of the others, but Mecum does the lower-end cars on Friday’s, mid-range cars on Saturday, and high-end stuff on Sundays. Fees all vary by auction company, I think it’s like $500 Fri, 1k on Sat, & 1,500 on Sun to list for Mecum and 8% commission on a car that sells for under 150k, 12% on a car that sells for over 150k.

 
You must log in or register to reply here.

Similar threads

dgreen
Automobile DIY work that everyone should do
2
Replies
76
Views
985
MTskibum
MTskibum
T
Official Stephen King Publication Countdown - 2. 'Salem's Lot, 1. The Stand
5 6 7
Replies
323
Views
18K
The Longtime Lurker
The Longtime Lurker
glvsav37
e bikes
2
Replies
68
Views
909
Major
Major

Users who are viewing this thread

Total: 1 (members: 0, guests: 1)
Back
Top