Read this!

[oldschoolcruiser]

I copied this from another forum:




Some Barrett-Jackson Scoop

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I talked to a guy that went to the auction. He said there are a lot of unhappy people, when there in person. He was standing there and a lady was crying. He asked if she was alright. Her husband came over and said no we are not. They were the owners of the Orange Hemi Cuda that had 70 miles. The car had sold for 500,000. The only problem was, they had purchased it a year or two earlier for 750,000. I remebered thinking the hemi cars were not bringing the money they had in the near past, but that is a steep loss. Figure comission and they are out 300,000. That is why you should not buy cars as investments. The market will top out, and appears that it may be in some regards. I believe the same people may have sold the 165,000 GSX (not sure on that).

Another guy had a street rod that had 102,000 in it, he said he would be happy with getting 62,000. I am not sure what it went for.

Anyway, this is just for some general information that with a NO RESERVE auction comes some big risks. I would not be surprised if BJ started to struggle a little bit in the next few years. They only went the NO RESERVE for ALL cars in the past 2-3 years, mainly for TV and to insure there profit at the cost of someone else's car and money!!

[swi66]

Any auction is a risk.
A couple years ago I went to the auction of a local collector who had passed away. Cars were already sold, but he had a lot of parts NOS and mint used, no junk! Auctioneer advertised it as a "large collection of old car parts". I knew what was there.........
Yes a barnfull of old car parts, 64 Caddy, 62 and 66 T-Bird, 51 Merc, Oldsmobile and more. They were brought out of the barn and put into "lots" no rhyme or reason, all mixed. the auctioneer went down the ailsles faster than you could figure out what was up for bid. Huge lots went for a buck, or maybe 10. I filled my truck inside and out and came out of there spending about $80. Including 3 franklin mint cars, a Banthrico bank, and a lot of t-bird parts as well as Caddy etc...........In no time at all I cleared a grand on e-bay.
I still kick myself for not buying more..........

If you have 3/4 of a Million to gamble on buying a car as an investment, and hoping to make money...............you can afford to lose too. Yeah that is a big hit, but looked to me like an investor and not a hobbyist.

We've all used the excuse that our cars are an investment. And some of us have done quite well selling at the right time. But there are a few of these cars I'll never come close to getting my investment out of.

And I'm sure there is a figure out there that any one of us will accept to get rid of outr pride and joy.....................

[oldschoolcruiser]

Next time you hear of one of those barn auctions.............let me know!

Meanwhile, I'd never be stupid enough to put up ANYTHING I own for auction without a reserve. When you think of how all these filthy rich speculators and investors have ruined our country nearly wiping out the middle class.........sending our work to china.......all the excessive bank "fees" charged to less wealthy people.......do you think they could care less if they financially ruined a regular guy just selling his classic car? I doubt it! So do I feel sorry for any of these clowns? No way.......you reap what you sew!

[swi66]

My son hits local auctions all the time.
sometimes they are one of those U-store it buildings with several bins up for auction for back rent. sometimes crap, sometimes a lot of interesting stuff. He has bought complete bins full for $10..........of course he is responsible for emptying, and a lot gets tossed, a lot goes to the Salvation Army for a tax deduction, and a lot goes on e-bay............he has not lost on one yet........
I still could kick myself for not going to the Auction of a Corvair Guy, in Hartland............It was a long day, as the guy had tons of junk, but the Corvair parts went for pennies. It was 2 years ago on the same day as the Olcott Beach car show........probably just as good I didn't go as I would have bought it all..................
Another great thing is Garage or Dealer auctions.................lotsa good tools and equipment as well as parts.

[65cuda]

storage place in Newfane is having an auction on the 27th of this month in case anyone is interested

[crankyhick]

I've always wondered what pleasure people got from having a valuable car, that they can't or would never drive..

[benny]

not buying a car as an inverstment is like not buying stocks or bonds...you roll the dice