Buy Back Ratio, Barrett Jackson/Russo and Steele

[azcamaros]

Does anyone know what the buy back ratio was at the recent AZ auctions? The word on the street,here in Phx,is that it was a record year at both auctions for buy-backs; close to 60% at Barrett and 70% at Russo.

[hvychev]

Wow could that be a fact? If so why in the hell do people even bring a car their?

[Charley Lillard]

There is no way the buy backs at Barrett were that high. Prices were too good. Russo had alot of reserve cars so that ratio would be skewed.

[JoeG]

So at a buy back a seller would pay the buyer and seller BJ commission fee plus applicable sales tax???.....

[JChlupsa]

YEP!!!

[Motion Camaro]

[ QUOTE ]
So at a buy back a seller would pay the buyer and seller BJ commission fee plus applicable sales tax???.....

[/ QUOTE ]

<font color="blue">Imagine paying 10 - 50K to get your own car back ... holy crap!!! </font>

[Mr70]

The alternative.
Imagine watching your 200K car sell for 32K ... holy crap!!!

[azcamaros]

The buy back at Russo was the sell rate of 5% with no tax. Barrett Jackson buy back was both the 8% sell and the 8% buy fee, 16% total with no tax. I have seen some of the big dollar cars, that were in the tent, currently for sale in the local paper. When I called on them, they were all were buy backs, at big bucks.

[Stuart Adams]

That 39 Ford, "Orange Crush" that went across for 216 was way way below cost. That car was flawless and awesome. I'm sure that was a buy back.

As I was sitting in the bidder area it was real weird in the fact that I felt alot of cars did not do well on price of sell, and the time of day was critical it appeared. After 8:30-9:00 it appeared to drop off.

Probably common, but felt odd, and I felt sorry for some of the owners of the expensive street rods - they got sluaghtered. Definately a COLLECTOR car auction, IMO.

[tom406]

That's the real world for the owners of high dollar street rods. If the bid gets anywhere close to 50% of investment (particularly in professionally built cars with no sweat equity factored in) it should be SELL SELL SELL. Buying back one of these cars is likely just throwing more money away. The car only gets older, more beat up in transit, and the style gets that much more out of date. Kind of like last years custom tailored suit that goes off to GOODWILL this year.

I'm not down on these cars, some of them are awesome, and incredible works of skill and style. But you lose money on them, just like the money you spend on a trip to the Carribean. Its neat and fun and cool, but in the end is a very real expense.

While I have a hard time believing those buy back ratios, I wonder if BJ couldn't protect their after 6pm sellers a little more. Maybe a reduced expense bidders pass and spectator pass that's evenings only? I know, when you're #1 why try harder, but I think there's a solution. One that would keep or entice bidders to come around in the evenings while the day crowd decompresses with dinner and wine. They can't hang the evening sellers out to dry if they want to keep the party going, IMO.