Yenkos at Mecum Auction

[quick-bowtie]

Way to many good expensive cars and not enough high end buyers..cars weren't doing the money at all! I think that auction is going to reck the car market for awhile because the people that weren't there and didn't see what was really going on (to many cars vs buyers) At an auction like Barrett there are a bunch of different style cars so there isn't 10 cars to 1 buyer like at Mecum..1000 Muscle cars to 200+ buyers wasn't a smart move on there part the market just got flooded.. They should have limited that auction to 500 cars at most and not had so many high high dollars cars. The guys that werent there are going to think the market is changing and start to panic..Just my thoughts but I know from talking to a few other guys there the feeling is similar.. (some good buys might be had in the next month or 2 if panic sets in with some of the big dealers). Just my 2 cents.

[ChevyThunder]

I think you are right about too many cars.. besides . Lets face it, there are always people coming into the market who are not in touch with the auction arena , but have the money to buy.New buyers. They all know Barrett Jackson .. but most of them have never heard of Mecum. So you don't draw the new high end buyer with cash who decides he wants a car and puts 6 figures in his wallet and goes shopping. I just don't think Mecum has the identity with the general public that BJ has.

[lzdick]

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...I just don't think Mecum has the identity with the general public that BJ has.

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You are right there. Mecum owns "Bloomington Gold", the large Corvette show held in St. Charles, IL the 2nd week of June. He made is name with the Corvette and is expanding quickly.

With "Bloomington Gold" coming up, it also explains why there were only a handful of Corvettes at this week's auction. The big Corvette dealer's like Pro-Team, Mershons, etc. weren't even there...but they will be 'front & center' in St. Charles.

[Jeff H]

Do you guys think these auctions on holiday weekends hurt also? Last year they had the NY auction on Labor Day weekend and this year on Memorial day weekend. I still see some strong numbers in some of the cars that sold.