Russo and Steele auction

[Rick H]

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More butter please.

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[Stuart Adams]

Sure seems like alot of work and time and stress to transport your car, be there to converse with potential bidders, and then all anxiety of is the car going to sell for what YOU think it will. The price you think it's worth is ALWAYS more than what John Q public does, because they have no emotional ties to the car.

And then sit there and if it does not sell, which is common from the numbers I see, your drained worn out and now have to transport home and regroup.

Why is BJ the only no reserve auction house?

[redbaron]

All the auction houses do more harm than good for our sport. How many times have you heard the phase "Well at B-J this or that sold for this much, but in the real world your car really isn't worth that much"? So this creates false markets and values. And guess who wins. The auction houses. They take 8 to 10% from the buyer and seller for a total of 16 to 20%.

[TDW]

Do they shill bid on the lesser value cars? Say the 30-50K ones? The ones the average Joe would be interested in.

[redbaron]

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Do they shill bid on the lesser value cars? Say the 30-50K ones? The ones the average Joe would be interested in.

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Of course they do. Here is how it works. Shill bidding if less than 2 real bidders. So if the real bidder is close to the reserve, you see the guy on the floor trying to get the seller to lower his or her reserve. If the seller does the car is sold at that bid. Very seldom that the bid increases from there.

[YENKO DEUCE REGISTRY]

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Do they shill bid on the lesser value cars? Say the 30-50K ones? The ones the average Joe would be interested in.

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Of course they do. Here is how it works. Shill bidding if less than 2 real bidders. So if the real bidder is close to the reserve, you see the guy on the floor trying to get the seller to lower his or her reserve. If the seller does the car is sold at that bid. Very seldom that the bid increases from there.

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I think your last statement was proven incorrect by the R&S example that started this whole discussion. I think the seller dropped his reserve at $265k'ish, and the car pulled another $80k or so. I think that was a pretty good run!

[redbaron]

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Do they shill bid on the lesser value cars? Say the 30-50K ones? The ones the average Joe would be interested in.

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Of course they do. Here is how it works. Shill bidding if less than 2 real bidders. So if the real bidder is close to the reserve, you see the guy on the floor trying to get the seller to lower his or her reserve. If the seller does the car is sold at that bid. Very seldom that the bid increases from there.

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I think your last statement was proven incorrect by the R&S example that started this whole discussion. I think the seller dropped his reserve at $265k'ish, and the car pulled another $80k or so. I think that was a pretty good run!

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Rarely does that happen. Watch the film footage or pay close attention at the next reserve auction you attend. You will see that this is normal business procedure. Don't think games are not played at the No Reserve auction also.