73911

It's getting rough for the auctions. There simply aren't enough good cars to go around. There were a bunch of questionable cars at the Monterey auctions. The prices and the No Sales were proof of this. With Scottsdale coming up the auction houses are worried. They all need cars.

I just got this from Russo and Steele.

"As a special offering to our friends, family, and loyal customers, this year we are offering a $200 early consignment special for reserve vehicles. For a limited time we will also be continuing our zero entry, and 5% commission on no reserve offerings as part of this offer".

Mecum has been doing the $200 deal for a while now. What's interesting is that Russo and Steele is going public. Who's next?

I'm wondering if they're offering these deals in public what are they offering in the back room? Scottsdale should get interesting.

Richard Newton

Drisump

I guess that it seems to me that the prices have to be even higher to "draw them out". It's not that there are fewer of them, just that the people who own them currently don't get excited about the pricing.The auction houses have worked hard at fostering this "investment grade" idea around cars and I guess they've been successful, maybe too successful. Me, I love cars, but mostly love to drive them. Cheers

race911

I truly don't get car auctions, absent 1-of-1 examples. Really, if I have a '73 S or a '62 T5 Roadster or whatever, we don't know within 2-3% what the car will bring? And no transportation costs, no seller premium, no buyer premium, easy ability to PPI/talk to owner/restorer at length. And on and on.

Amber Gramps

It is about the event, as much as the purchase, is my guess.

Mondrian

The recent Chinese sneeze should cough up a few cars from nervous enthusiast investors.

jfischet

i've been to a few scottsdale auctions. gooding&co has the best examples of porsches and ferraris and if you go a few days early you can take your time and really inspect the cars.

russo&steel is where i'd go to buy a resto-mod, muscle car.

barret jackson has gotten really big and it's more of a spectacle. i'd never want to sell there but as a buyer you might get a good deal.

pu911rsr

To me selling at an auction is a crap shot- if you have something special maybe it make sense. It seems like they care about quantity not quality- been that way with RS's for years- many very questionable RS's get sold at auctions over the last few years.
Phil

Mondrian

I think auctions are great for the top end of the market and also getting rid of the bottom end of the market. But it doesn't make sense for the seller or buyer of everything in between.

jfischet

"I think auctions are great for the top end of the market and also getting rid of the bottom end of the market. But it doesn't make sense for the seller or buyer of everything in between."

you know, that's a really good point. i couldn't agree more.


and for the rest of us it is fun to watch,