Buy Back Ratio, Barrett Jackson/Russo and Steele

[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 The car only gets older, more beat up in transit, and the style gets that much more out of date.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.

[Bill Pritchard]

[ QUOTE ]
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.

[/ QUOTE ]

So let me understand this correctly.....you call the number listed in the newspaper ad, the seller has no idea who you are, and he readily volunteers that he bought his own car back at the auction What do they stand to gain by volunteering that information?

[GTO_DON]

PERSONALLY I BELIEVE THAT BUYBACK RATIO. WITH THE EXCEPTION OF A FEW CARS I THOUGHT THE PRICES WERE DOWN FROM LAST YEAR. 2 65 VETTES 396/425 CARS FOR 70K AND 82K,68 HEMI GTX 60K?,BOSS302 FOR 51K,SIX PACK SUPER BEE ON SUNDAY FOR 60K? THAT CAR WAS OUTTA THIS WORLD! HE HAD TO BUY BACK THAT ONE! JMO THE LIST GOES ON GUYS.

[Stuart Adams]

Its still the best auction on the planet for collector cars. The street rods seem to struggle. I thought most cars did well, some very well and then some not as well. Typical I would suspect. I'd be leary about taking a high dollar street rod there unless its a famous car (Chezoom, Whatthehey, etc.). All in all a real fun place with alot of cool cars.

[Belair62]

Don I think we should consider that the buyers on some of those cars were smarter than we give them credit for...a lot of people bring stuff there trying to hit a home run when it may have a lot of issues that a wise bidder would stay away from...just because it is at BJ or any other auction doesn't mean its a great car.

[Mr70]

More women are registering to bid there each year too.

[Z-11 396]

WHAT WILL BE THE '' NEXT BIG AUCTION'' COMING UP, SO WE CAN SEE HOW, AND WERE, AND FOR WHAT THE BIG $$$$ GOES FOR...KASEY

[GTO_DON]

[ QUOTE ]
Don I think we should consider that the buyers on some of those cars were smarter than we give them credit for...a lot of people bring stuff there trying to hit a home run when it may have a lot of issues that a wise bidder would stay away from...just because it is at BJ or any other auction doesn't mean its a great car.

[/ QUOTE ]IM WITH YA BOB!