Kevin Hand Collector Car Collection at Auction

[Fast67VelleN2O]

I don't care what kind of hand shake or verbal deal you have with someone prior to your car going across the auction block. If it is going through at NO RESERVE, you should expect that something may happen where someone would actually win it at less than what you would like to get it for.

Why run it at NO RESERVE if you want a minimum amout for the car? The only person at fault here is the SELLER. No one else.

[70 Forest Green Zee]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Fast67VelleN2O</div><div class="ubbcode-body">I don't care what kind of hand shake or verbal deal you have with someone prior to your car going across the auction block. If it is going through at NO RESERVE, you should expect that something may happen where someone would actually win it at less than what you would like to get it for.

Why run it at NO RESERVE if you want a minimum amout for the car? The only person at fault here is the SELLER. No one else. </div></div>

I agree with this 100% If the seller had a set minimum price he wanted for this car, he should have run it with a reserve plain and simple. He chose not to and got less than he expected....sorry but it's the sellers own fault and he has no reason to be complaining here, it's his own fault!!!

I ran my 1970 Z28 through the Mecum auction last Sept in St Charles with a reserve. It didn't make reserve so I took the car home, plain and simple. Personally, I don't understand why anyone would run a car at auction without a reserve...the reserve is there to protect you the seller and the commission is not that much more at Mecum with a reserve 6% vs. 4%. Just my humble opinion.

[sYc]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: 70 Forest Green Zee</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Fast67VelleN2O</div><div class="ubbcode-body">I don't care what kind of hand shake or verbal deal you have with someone prior to your car going across the auction block. If it is going through at NO RESERVE, you should expect that something may happen where someone would actually win it at less than what you would like to get it for.

Why run it at NO RESERVE if you want a minimum amout for the car? The only person at fault here is the SELLER. No one else. </div></div>

I agree with this 100% If the seller had a set minimum price he wanted for this car, he should have run it with a reserve plain and simple. He chose not to and got less than he expected....sorry but it's the sellers own fault and he has no reason to be complaining here, it's his own fault!!!


</div></div>

Pretty much sums it up.

[tom406]

I think there's a definite place for &quot;no reserve&quot; at the auctions. No reserve is a higher risk but potentially high reward option. Auctions are not like the car corral at a swap meet. There's a living, breathing aspect to them that is unique. &quot;No reserve&quot; tells buyers that the car is GOING TO SELL and it COULD BE YOU. On a car such as this, a seller would hope that a veritable CROWD of people will bid it up intially and that eventually, 2 or 3 people with big checkbooks, healthy egos, and a perhaps a couple of gin and tonics will feel the NEED to own that car. The energy in the room, as much as the car itself, often drives the notably big numbers.
If there 5 cars in a row that don't hit their reserve, you can FEEL the energy leave the room. You can see the people check their phones and head to the bar.
I think &quot;no reserve&quot; is still a very effective strategy for larger, quality collections being thinned or liquidated. It gets the people there, interested, and the energy stays up. Plus you have to look at your total take, and compare it to your expectations. Most dealers I know that bring cars to auction regularly bring a half dozen. One or two (often unexpectedly) ring the bell, one or two take it in the chin, and the rest do OK. They average out. If you obsess about the ones that went &quot;cheap&quot;, its not the venue or strategy for you. There will ALWAYS be a similar but markedly inferior car to yours that will bring more money, often at the same auction. Why? Because its an auction, and thats how it goes. If you just have one car, you don't have the luxury of averaging out, you might just be left crying in your beer. Or throwing it, if thats how you roll.
If there wasn't a benefit to running no reserve, there wouldn't be talk about secret backdoor deals. Deals that offer the perks of &quot;no reserve&quot; but eliminate the risk. But unless you ran a major bank during the last 10 years, you really can't have it both ways, can you?

JMO
TOM