Auctions in general

[BARNFOUND YENKO]

Ive sold many of cars/high dollar cars and not one time have i ever needed any help! ie.. auctions/all the BS associated with them.

[redbaron]

We need a better way to put large groups of buyers and sellers together than through the auction houses. Whether this could be done as a car only swap meet style sale or just what I'm not sure. As a collective group lets take back our sport and come up with ideas to help end this madness. It doesn't make sense that the seller loses 4 to 10%, while the buyer pays an additional 6 to 10%.

[Charley Lillard]

I like the auctions. As a buyer I can go and look at hundreds of cars that are for sale and they are in one place. I don't have to go on wild goose chases all over the country looking at one car at a time. So I pay 10% to the house for bringing them all together. As a seller....Barrett-Jackson brings 5000 registered bidders to see my car. I think they earn their money.

[redbaron]

Well Charley for some odd reason I like you. But look, a lot of people don't have the extra 10% funds one way or the other. With that in mind what would you suggest to prevent the false values and market the auctions create.

[sixtiesmuscle]

I think we're losing sight of a simple fact. When a buyer and a seller agree on a price, how is that a false value or market? The fact that a broker, the auction house, is the middle man is irrelevant. The reserve is the seller's asking price, just as it would be at a dealer or swap meet. The buyers make offers up to a point that the seller will accept. The notion that the seller should be compelled to sell his car at the highest bid, no matter how low, is just not reasonable. After all, this is an auction with a reserve. The responsibility for not paying a falsely inflated price belongs to the buyer. Nobody is forced to pay more than they are willing to pay.

[redbaron]

[ QUOTE ]
I think we're losing sight of a simple fact. When a buyer and a seller agree on a price, how is that a false value or market? The fact that a broker, the auction house, is the middle man is irrelevant. The reserve is the seller's asking price, just as it would be at a dealer or swap meet. The buyers make offers up to a point that the seller will accept. The notion that the seller should be compelled to sell his car at the highest bid, no matter how low, is just not reasonable. After all, this is an auction with a reserve. The responsibility for not paying a falsely inflated price belongs to the buyer. Nobody is forced to pay more than they are willing to pay.

[/ QUOTE ]
How often have we heard this? "At (fill in the auction) this car or that car sold for X dollars, but in the real world it's only worth X". Just trying to figure out a way to pool large groups of cars and people together for resale in a friendlier fashion.

[Johnny Horsepower]

[ QUOTE ]
I think we're losing sight of a simple fact. When a buyer and a seller agree on a price, how is that a false value or market? The fact that a broker, the auction house, is the middle man is irrelevant. The reserve is the seller's asking price, just as it would be at a dealer or swap meet. The buyers make offers up to a point that the seller will accept. The notion that the seller should be compelled to sell his car at the highest bid, no matter how low, is just not reasonable. After all, this is an auction with a reserve. The responsibility for not paying a falsely inflated price belongs to the buyer. Nobody is forced to pay more than they are willing to pay.

[/ QUOTE ]

Bingo

[sYc]

Following this thread, and the R/S thread, brings to mind what more then one person has told me. On this site there is a lot of useful information, just at times we take the long way around. IMO, many of us “rookies” understand the whole auction process a whole lot better then we did a few days ago, which to me makes it better for sellers, buyers and the auction houses. Hopefully the auction houses will look at how they do business and clean up some of the gray areas, and no doubt any buyer or seller who has followed all of this will certainly read their contract a lot closer, making sure they understand fully what they are agreeing to.

I for one do believe auction houses serve a useful purpose in our hobby, as does Ebay and other avenues available for selling cars. All have their strong points as well as weak points, but when everyone knows the rules and abides by them, everyone wins.

[Charley Lillard]

[ QUOTE ]
Well Charley for some odd reason I like you. But look, a lot of people don't have the extra 10% funds one way or the other. With that in mind what would you suggest to prevent the false values and market the auctions create.

[/ QUOTE ]

I could easily spend equal to that 10% flying around the country on wild goose chases...Not to mention when you get there the car that was a 100 point car is in reality a piece of crap and I just wasted a day of my life. I have no solution to auctions because I am not looking for one. There are plenty of cars that are for sale outside of auctions and that is where I have bought most of mine. I have virtually always sold a car I wanted to sell outside of auctions but I might actually list a couple of mine with auctions since they are not selling the private route.

[NovaMob03]

Imagine the impact if buyers were notified in writing that auction houses were plannung to help bid the item to reach the reserve. This culusion between the house and seller is unfair since both parties pay commissions.
It's a bad joke