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Car Auctions on TV

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  • Car Auctions on TV

    I have been watching the Mecum Car Auctions on TV and it appears in many cases the prices for cars has really dropped and yet when I look at muscle cars and street rods for sale most seem over priced.

    I understand that there are always going to be cars priced high because the owners don't really want to sell unless they get the "pie in the sky top dollar price"

    I like to watch the auctions on TV and try to figure out what price range the car might sell for but so far I have been wrong. They seem to be selling for a lot less then it cost to build them by about $25,000 thousand dollars and that's with the 10% for the auctioneers commission.

    Just my opinion. Jimbo

  • #2
    I watch the auctions occasionally. I see kit cars selling for about what it cost to buy the kit. Mostly Cobra look a likes.
    Those seem to be a deal.

    Nick

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    • #3
      This a good topic, and I like to watch the auctions on TV too. And yes, they sell for less than the sum of the parts, and don't even factor in the labor and the polishing.

      So let's think about that when we're throwing parts onto a car, it's not about re-sell value.

      But then, out rolls some sort a gem that's just plain rare and valuable. Stock as-is. And some nut will pay 7 figures for it, just to add it to their collection. And they're not even going to drive it. Go figure. I can't (figure).
      Charter member of the Turd Nuggets

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      • #4
        I thought auctions are places to buy cars to auction at the next auction.

        Not to worry about guessing the selling prices,
        Rawlings has been getting it wrong for years..
        .......and he's, by his own mouth, "professional".

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        • #5
          Originally posted by malc View Post
          I thought auctions are places to buy cars to auction at the next auction.

          Not to worry about guessing the selling prices,
          Rawlings has been getting it wrong for years..
          .......and he's, by his own mouth, "professional".
          Poor Richard, such a f-up. But he's not "poor." Somehow, he's not poor and he flaunts it.
          Charter member of the Turd Nuggets

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          • #6
            Big Dave took a couple of cars to a mecum auction in Dallas a while back, he said for the public it was like a car show, the only people really trying to buy was dealers and they didn't want to pony up obviously.
            Last edited by corvettedad; September 27, 2017, 03:34 PM.
            Pt 2010, Long Haul 2011,12,13,14,15,16,17, 18, 19, 23
            If you wait, all that happens is that you get older

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            • #7
              Originally posted by corvettedad View Post
              Big Dave took a couple of cars to a mecum auction in Dallas a while back, he said for the public it was like a car show, the only people really trying to buy was dealers and they didn't want to pony up obviously.
              Perry, can you imagine taking your Corvette or the Camaro, or me taking Red to an auction? And then we sit there biting our nails while strangers bid on it?

              No, oh hell no. Those cars, all of them, are cars that somebody doesn't already care about.
              Charter member of the Turd Nuggets

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              • #8
                Not even a thought, John would not stand for it!!!
                Pt 2010, Long Haul 2011,12,13,14,15,16,17, 18, 19, 23
                If you wait, all that happens is that you get older

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                • #9
                  On Facebook, TEN has been talking about the Tucker from Brazil (it wasn't found, everyone knew where it was at but just now it got bought to be restored)... they made a comment that I think is true - there are still unicorns out there.... there are and maybe people finally are starting to realize they're not really buying anything unique. I like buying and fixing cars, but the best I ever hope to do is 2x parts.... usually I get about 1 1/2 or 1 3/4 parts plus purchase price - it's certainly profitable but it work out to maybe 10 or 20 bucks an hour... maybe.
                  Doing it all wrong since 1966

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                  • #10
                    Wow a 1966 Nova complete restoration with a 383 stroker engine and a beautiful orange paint job went for either $26,000 or $28,000 One of the guy's doing the commentary said that price was not even half what it cost to build the car.

                    Not a great time to be selling a car for sure and yet when I look at cars for sale on other sites they are asking $30,000 grand for cars that look like they should be asking $12,000 to $15,000 dollars.

                    It's a very crazy car market right now.

                    Jim Hill

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                    • #11
                      Originally posted by SuperBuickGuy View Post
                      On Facebook, TEN has been talking about the Tucker from Brazil (it wasn't found, everyone knew where it was at but just now it got bought to be restored)... they made a comment that I think is true - there are still unicorns out there.... there are and maybe people finally are starting to realize they're not really buying anything unique. I like buying and fixing cars, but the best I ever hope to do is 2x parts.... usually I get about 1 1/2 or 1 3/4 parts plus purchase price - it's certainly profitable but it work out to maybe 10 or 20 bucks an hour... maybe.
                      Who or what is TEN?

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                      • #12
                        The Entertainment Network. They own Hot Rod magazine, etc.
                        My fabulous web page

                        "If it don't go, chrome it!" --Stroker McGurk

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                        • #13
                          Thanks for the info, I don't think we have that available here.

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                          • #14
                            Originally posted by squirrel View Post
                            The Entertainment Network. They own Hot Rod magazine, etc.
                            Thanks Jim! We don't have that at all.

                            Now, a blunt question to SBG - Why are you so mad at HRM and Freiburger? I mean, I'm not. Maybe I don't even know enough to be mad. It may be my lack of knowledge.

                            What is it? There's got to be something underlying, maybe even a personal thing going on, but if I'm the only one mystified, I guess I'm the only one mystified.




                            Charter member of the Turd Nuggets

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                            • #15
                              I'd compare the TV auctions to flipping thru the Sears catalog as a kid for Christmas presents.
                              Phil / Omaha

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