Barrett-Jackson lawsuit over the Ramcharger Cuda

[427king]

[ QUOTE ]
The contract is very clear that there is no run time guarantee...



[/ QUOTE ] Im sure they like others will need to start catering to sellers again in the very near future.

[Norm reynolds]

The way I see it people know there is NO reserve so they don’t have to go to B/j to sell cars The way to get though MR Jackson is no one goes there to sell there cars with out a reserve might take a few years but when less and less people go there then he might not be so bull headed It has been discuss a lot a local car cubs and shows that I have been to this past year .Most of the people that once went there will not this year and what is the story of Steve Davis ??
Every were I went this past summer I hear this guys name it seemed that he ticked off way to many people with last year circus Mr. Jackson would be wise not to even have this guy there But in the end it up to the people if they do not like the way they are running the business then you do not have to go there. If it was that bad last year then the best thing to do instead of
crying about it is just don’t go The best way to get some one to under stand is in the pocket Sure there will be people going this year but might not as many as last year and maybe less in 09 .To me that make the biggest statement. Lawsuits are messy and take to long By less people get involved the less money made and that will wake them up and clean it up
Me I am not going to waste my time watching it on Tv
The bottom line is there is no reserve this is a know fact so if you do not like it DON’T GO. Depending on B/j to work the cars to get the money you want is very dangerous and not the smartest thing to do

[427king]

[ QUOTE ]
The bottom line is there is no reserve

[/ QUOTE ] The "no reserve" is a incorrect term. If i bring a COPO there and say on the contract ill buy it back up to 200K, then the reserve is 200K,you as a bidder just dont know it. So in effect it isnt a no reserve auction.Then again it insures that the auction house receives boith seller and buyer commision on both ends whether a car actually trades hands or not . Its like bidding on an item on ebay with no reserve ,and then at the last second the sellers preset bid gos in effect. How the term no reserve gets used is beyond me.

[Charley Lillard]

As far as I know there is no place to tell the auction house you will buy it back. I think in fact they state that the seller cannot buy it back. That does not prevent a seller from having a friend that is a registered bidder buy it back for him but you better have friends that really trust each other.

[427king]

Charlie, Why do you hear about people getting upset because they had to pay the sellers and the buyers premium just to get thier title back?? Weve all heard about the Crossram car from OK, that the seller had to cough up 20K plus just to have them release his car back to him, is that a false story??????

[Charley Lillard]

InI think in prior years to las year you could buy your car back. Last year they said no. I remember Andy Wolf wanting to buy his 68 Yenko back and they said no. He didn't think about having a friend there to buy it back for him. Ifyou don't want to let your car go under a certain amount then you should take it to a reserve auction. If you do buy your own car back and the hammer drops before they realize you are the owner I think all they can do is charge you both the buyer and seller fee. At 16% on a 100K car you only net 84K after you buy it back so you hadbetter really think about weather you think you can do better than 84K before you buy it back. You also have to have some consideration for the buyer that reads the catalog that says no reserve, flys across country only to have the guy buy his own car back.

[427king]

The simple solution to ending ALL and ANY type of shill bidding at any public auctions on high dollar items ,cars or otherwise is to have the venue issue IRS sales/purchase reporting forms to buyers and sellers just like when land and property change hands. At that point buyyer and seller have too much to lose on a false sale.

[Johnny Horsepower]

[ QUOTE ]
Charlie, Why do you hear about people getting upset because they had to pay the sellers and the buyers premium just to get thier title back?? Weve all heard about the Crossram car from OK, that the seller had to cough up 20K plus just to have them release his car back to him, is that a false story??????

[/ QUOTE ]

I think the point of contention is the term no-reserve; and it is a valid term. At a reserve auction you pay nothing but a stiffer enrty fee; if the car does not sell take it home. In a no reserve if you ended up buying your car back directly or not, you are paying buyer AND sellers fee. What does this mean. You did not have a reserve and the car sells to the highest bidder. If that bidder is you, it cost you money that it does not cost in a reserve auction. The goal of no reserve is to let people know the car really is for sale and it is. In short , I see no problem with the term "no-reserve" as it is very diferent from a reserve auction.

My $.02

JOHN

[x Baldwin Motion]

"and then at the last second the sellers preset bid gos in effect"

Chuck, the seller bids on his own item under a different name to meet his (no)reserve?

[Johnny Horsepower]

[ QUOTE ]
[ QUOTE ]
The bottom line is there is no reserve

[/ QUOTE ] The "no reserve" is a incorrect term. If i bring a COPO there and say on the contract ill buy it back up to 200K, then the reserve is 200K,you as a bidder just dont know it. So in effect it isnt a no reserve auction.Then again it insures that the auction house receives boith seller and buyer commision on both ends whether a car actually trades hands or not . Its like bidding on an item on ebay with no reserve ,and then at the last second the sellers preset bid gos in effect. How the term no reserve gets used is beyond me.

[/ QUOTE ]