View Single Post
  #5  
Old 03-25-2007, 04:26 AM
1969z280 1969z280 is offline
Senior Member
 
Join Date: Mar 2007
Location: Columbia City, Indiana
Posts: 955
Thanks: 0
Thanked 3 Times in 3 Posts
Default Re: Brokers, Middlemen, and the whole ugly mess!

Hey Chris, how have you been. Since you started this, I thought I'd add my two cents. In my experience, most broker's are guys that are trying to get in on the Muscle Car Madness ($$$) without having any skin ($$$) in the game. That's just not the cost of the car. That's cost of the building/property, taxes, insurance, alarm systems, etc. When I sell a car (and I'm not a dealer), I'm lucky to break even or make a couple bucks for the next project.

Someone who assists in verifying a car, whether they are paid (Govier) or simply helping the hobby, is not in the same business as a broker. The broker isn't adding any value to the transaction. They're simply trying to make a buck without incurring any of the risk (or potential risk) associated with owning and caring for collector cars.

Strip away the hype and the Auction Houses are simply brokers. BJ, with their "all cars at no reserve philosophy" has even eliminated the potential downside of not selling every single car. Twenty Percent Commissions (both sides) and collecting $500 - $5,000 per spot on a 50% sell through wasn't enough. Like "Rinse and Repeat" shampoo marketing, they have found a way to collect Twenty Percent Commissions on a 100% sell through plus the $500 - $5,000 entry fees.

That being said, then there is Dana Mecum. He is one of the most honest straight forward people that I have met in this hobby. I have bought/sold several cars through Dana Mecum, (including some of his own) and I've never had anything but great experiences.

So, I guess the bottom line is there are good and bad people (read honest/dishonest) in everything and I guess that would include Brokers. Just be careful and count your fingers.

Ed
__________________
... some old Chevrolets and Pontiacs.
Reply With Quote