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Old 06-27-2016   #20
A26B
 
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Join Date: Dec 2003
Location: Arcadia,OK
Posts: 3,373
Default Re: Prices and Valuation

Quote:
Originally Posted by Fully Vetted View Post
You need to add in the bidders fee at the auction. Having bought at Mecums before I promise you the bidder was. Also, you're assuming PP sales would be less than the auction because of th auction hype. You can't do that. Especially at BJ because it's a no reserve auction. If that car happens to go thru at a bad time it's going to sell no matter what. You can't then say well that must be what the market is. You've got to figure in known PP sales. I have a buddy who has a classic car dealership and he has sold 2 Z's in the last couple of months. One went for $34k and the other almost $40k. And he has another one on his showroom floor that will probably sell for over $40k based on his other sales. You're putting too much focus on what happens at BJ. While it is a contributing factor the auction can create a deflated price the same as it can an inflated one.


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Very accurate assessment & well stated.
I had a friend that sold a 63 SW Fuelie through BJ. He bought BJ prime time slot during TV coverage for big bucks. Auction running behind, missed not only prime time but continued to sell all that was scheduled for that day. By the time his car sold, late at night, most of the bidders had already gone. Didn't get squat for his car. Just another reason to not consider BJ auction hammer price as the gospel for value.

BTW, no refund on cost for prime time paid for but missed.
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