Barrett Jackson.....

[Steve Shauger]

[ QUOTE ]
The whole thing come down to this Yes many seller Knew it was no reserve
BUT the Jackson Group told many of the seller Don’t worry We will work the car we are experts I guarantee you will get your money and may be more Problem is the
Guarantee was not in writing . and The way I see it and I have been around to long to see that this has started A very bad situation.. I have been jumping all over the web and I can say for a fact I have NEVER seen so many people pissed off at B/J If Craig wants to be bull headed and keep on have no reserve auctions 5 years form now we will not be seeing it on speed and it will be down hill from here
All the people here that thinks The no reserve is a good thing. Well Think of it like this You put your house up for sell . your are looking to get let say 300.000 for it BUT you have to sell it at a no reserve meaning if some one offers you a 150.000 you can not say no and you will be forced to sell it Does that Make any sense??? NO
Then Why should some one that has over 200.000 in a car and gets an offer for 75.000 and can not say no That’s NUTS
I really believe the whole no reserve mess will be history if not then we will see B/J will start to decline to
A slow death

[/ QUOTE ]

All the sellers knew what they were getting into. With a no reserve auction there is an inherent risk. Many may have lost site of this since over the past several years tremendous profits have been realized (shame on them). It is interesting to note I have not seen a post from an actual seller bitching or whining about the out come of their particular sale. I do see a lot of finger pointing and bitching about the auction from spectators and TV watchers. Last year everyone(almost)were singing the praises of the auction... nothing really changed. We all make choices and if you choose not to participate in BJ so be it, but it is still the greatest show on earth.

If the no reserve auction process is not in the best interest of the sellers the market/sellers will find alternate venues to sell their cars. Lets not condemn the process that has work so successfully in the past, rather let the market define its merit.

[GRB]

We all know (I hope) that the free mkt. is self-correcting. All we have to do is watch it.

HERE'S my question: Why would any seller resort to an auction unless he had already exhausted all other possibilities? Why not try Hemmings, Epay or whatever first? In fact to maximize your selling price just how would you make sure you got your car in front of the potentially very small pool of buyers?

Example - All buyers have different motives for buying whatever they buy. I have very personal memories of certain cars that would make them more valuable to me. A couple pretty good examples went across the BJ stage but I wasn't there. I couldn't bid. How could the owner have gotten that particular car in front of me? If we can answer that maybe we can start our own business.....let's see.... what would be a good name for this venture????

[musclecarjohn]

Is it just me...

...or does anyone think the constant running of "Jackson-Hewitt" tax service commercials that are run everytime B-J is on the tube...is in anyway associated with Craig Jackson...?

[Late BrakeU2]

[ QUOTE ]
Is it just me...

...or does anyone think the constant running of "Jackson-Hewitt" tax service commercials that are run everytime B-J is on the tube...is in anyway associated with Craig Jackson...?

[/ QUOTE ]

Don't know for sure,but at the least it's subliminal in concept.Ad companies are hip the strong ratings the auction has been getting,and it's economical for SPEED as it fills the huge broadcasting gap between racing seasons.It's really a match made in heaven from a marketing standpoint for both and 40 hours of reality TV ads gets some hefty revenues.I'll bet two years ago the producers of SPEED bumped the coverage contingent upon them going no reserve ,the old format wasn't nearly as compelling for viewers imo

[Mr70]

Do you guys know if a 10% sellers fee is now the norm for ALL B/J auctions,and did it just begin with their Scottsdale 07 auction?
Is Mecum,RM and R&S raising theirs as well?

[Late BrakeU2]

I believe it was the first year for for the bump at BJ,and I think R&S was 7% no reserve and 10% for reserve auctions,but i might have that backwards.

Math wasn't my major but 10% of nothin beats 18% of your own car

[rubbinisracing]

I hope I never see another BMW X5 commercial!

[mockingbird812]

[ QUOTE ]
Do you guys know if a 10% sellers fee is now the norm for ALL B/J auctions,and did it just begin with their Scottsdale 07 auction?
Is Mecum,RM and R&S raising theirs as well?

[/ QUOTE ]

R&S is 10% for seller and 10% for buyer on a reserve auction.

[Canucklehead]

Lets not forget that if your an internet bidder, phone bidder or if a barrett member is bidding on your behalf the fee goes to 12%. Craig also charges you storage fee while the car is there.