Carolina Blue 1969 Camaro Z/28 @ Mecum Auctions

[bulletpruf]

Standing in front of the car now. It's nice but not $450k nice...

[chevelleheart]

This is really a sad story all the way around.... I agree with everybody here , it' sure leaves a bad taste in your mouth about the whole auction process and for Mecums acting this way, and with Kurts history on the car , why why why misrepresent a car like that and taint an otherwise pretty neat 69 Z28 Camaro,....?? It is disheartening to say the least...

[njsteve]

I remember all the times this car has popped up for sale from collector to collector in the past decade or so. Each time it has had a different story concerning its different "parts" and how they appeared on the car.

Very pretty car but it's just a special order paint 69Z that people have added parts to trying to make it something that it isn't. Actual value? Maybe $100k?

[47Hammer]

Wasn't this car part of that great showing of every color ' [img]<<GRAEMLIN_URL>>/hmmm.gif[/img] 69 z28 @ MCACN a few years ago?

[Mr.Nickey Nova]

Yes,it was part of the 69 Z/28 display in (08) at Chevy Vette Fest.I even moved that car around when we where lining the cars up.

[mmcporter]

I'm not defending Dana Mecum (or any other auction house for that matter), but this practice of the auction house running the car up to just under the reserve is a &quot;normal&quot; auction practice called &quot;chandelier bidding&quot;...again, it's a practice of the business model and not exclusive to Mecum....

[njsteve]

Yes, it is a standard practice in the auction industry since time immemorial, but most people have a problem with the insider trading aspect of a person who both owns the car, and owns the auction, doing it for his own car. As the market sees this, all it is, is an attempt to influence the future sale price(s) of this car and/or similar cars.

If this was a regulated security, the SEC would have a field day. But since cars are not regulated, it is not illegal.

[bigsixman]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: njsteve</div><div class="ubbcode-body">Yes, it is a standard practice in the auction industry since time immemorial, but most people have a problem with the insider trading aspect of a person who both owns the car, and owns the auction, doing it for his own car. As the market sees this, all it is, is an attempt to influence the future sale price(s) of this car and/or similar cars.

If this was a regulated security, the SEC would have a field day. But since cars are not regulated, it is not illegal. </div></div>
Well stated

[mmcporter]

I hear ya NJSteve....I guess I just assume some sort of rigging is happening at these auctions, so I have lowered expectations and certainly never buy cars there...it's pure entertainment for me....sort of like the movie The Wolf of Wall Street....you know much of what's happening isn't on &quot;the level&quot;.

[77Z28]

Maybe this has been explained before, but I am curious if Chevrolet actually painted the white stripes on the rear of the car as restored? As many Z28's that were made I could not imagine this car getting a different stripe layout than others during production. Were these extended stripes something done at the dealer?

Todd