Help With Selling #1 Car at Auction - Mecum Indy?
Fellas -
Thinking about selling my car at Mecum (Indy) in May. It's a 1970 GTO, Ram Air IV, M21 4 sp, 4.33, manual steering, manual drums, bench seat, no radio (not "radio delete" since radio was an option). Documented by PHS. Just finished a concours nut and bolt no expense spared restoration at a noted Pontiac resto shop. Won "Best Concours Restored" at 2013 GTO Ass'n of America Nationals against 93 other concours restored cars. 1 of 326 RAIV/M21 GTO hardtops in 1970. Was up for sale here for $120k.
Bottom line is that I've spent WAAAYYY to much on this car and can't justify keeping it. On a related note, I can't really afford to make any mistakes when I sell it; I'm not independently wealthy (active duty Army) and taking a bath on this one would really hurt me financially.
Here's why I'm thinking Mecum (Indy) in May:
Mecum is a better venue than Barrett-Jackson for this car. The B-J crowd is more likely to appreciate a Carousel Red Judge than they are a Pepper Green GTO with a bench seat, even if the Carousel Red Judge was put together with hardware store bolts and really needs to be re-restored. Obviously, this is a generalization, and I have to confess that I've never been to B-J or Mecum, so I'm going off auction results and what I've heard.
I can go with a reserve at Mecum, so I don't get financially crushed if it only brings 1/2 of what I expect.
GTO prices are looking good lately; see results from most recent B-J auction for details (i.e., 69 Judges bringing six figures for average quality cars with nice color scheme). Obviously, B-J doesn't dictate the value, but it is one indicator.
If I do go with Mecum, what's the best time slot? Friday at 7 pm? How can I influence the day and time besides paying the fee to go on Friday? I know that the wrong day or wrong time of the day can really make a huge difference.
Any reason not to put it on eBay with a healthy "Buy It Now" price before the auction?
Thanks in advance for any input.
Scott
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