Mecum?

[67SSDan]

Are any of you guys watching Mecum auction on TV right now? I'm not sure how recent this auction was... but the prices are looking LOW.

A SWEET (looking) pro-touring 69 Camaro with a sub-frame of some sort just went for less than $30K (I can't remember the exact number now, I was so shocked. I think it was 28,500 though). I was figuring it would at least go for twice that.

Everything else from dead stockers, quality rebuilds / restorations... all not drawing much (as a matter of fact, during the time I was watching, not much actually sold because the reserves weren't being met).

Is Mecum just not a well attended show... or just the wrong audience, or what?

Thoughts?

Dan

[Van B]

It was live tonight and will be for the next 5 or 6 weeks. Mecum typically represents more of the real world market, where BJ is more of an alternate reality. It has to be tough to draw buyers for six Saturday night only TV auctions. If you watched any of BJ Palm Beach, the prices did not seem as crazy as in past years either.

[bigvegan]

http://www.mecumauction.com/infonet/...ts%20Final.pdf

Above are the full results for the January Auction. Prices were ALL OVER the place, and only 57% of the cars sold.

Of interest (to me anyway), the 1965 Chevelle Z-16 that sold for $238,875. That seemed pretty steep for a Chevelle. Here's the history of that model, if you're interested.
http://www.popularmechanics.com/auto...s/1271676.html

[Vegas69]

It's a reserve auction as well. I wouldn't attend. It's a perfect example of risk and reward. BJ is a no reserve auction. People show up looking for deals and get lured into a bidding war. I'd take my chances at Barrett Jackson before Mecum anyday. At least you know the money showed up that day.

[bigvegan]

It depends on whether you're buying or selling.

That reserve comes in handy for sellers sometimes, just look at Poison Dart at BJ last year.

[Vegas69]

Ya I know, that is exactly the reason you don't see the big numbers. It favors the sellers only. If you don't want to take the risk, don't sell your car at the auction.

[MarkM66]

What channel?

[Van B]

What channel?

Discovery HD

There is a much better chance that you will overpay for a car at BJ and never be able to get your money back out of it except MAYBE at BJ. I do not have an unlimited amount of cash and would rather "waste" my time at an auction like Mecum and buy a car at the right money with a chance of being able to get the same money back out in a year or two versus paying that fantasy world money and losing my a$$ when I go to resell.

Most auctions are "reserve" auctions, not "no reserve".

Two cents worth from an 18+ year auction employee.

[4MuscleMachines]

I agree Dan, I was surprised at how low some cars went for (reserve met).

[MarkM66]

Discovery HD

So is that a different channel then just Discovery?

[67SSDan]

Yeah, it is... although they sometimes replay the HD content on the normal chanel (in SD resolution of course).

So is that a different channel then just Discovery?

It was interesting to see. The only auctions I've ever seen are the BJ ones... so I guess I just assumed they were all like that.

After that black 69 went across the stage I was thinking to myself... dang, maybe it would have been cheaper to buy someone elses completed project! But then I remembered I'd never be happy unless I had a hand in it. LOL

Dan

[Van B]

I thought the 69 seemed too cheap also. I guess none of us saw it in person, so we don't know how it really looked, but still...

[67SSDan]

That is true... but you look at some of the stuff that sells on eBay... and you can TELL it's crap from the pictures and it goes for then that one did... and it at least wasn't obviously a turd.

Oh well... hopefully I won't ever have to sell mine and lose my a$$.

Dan

[tellyv]

I sold a 72 chevy pickup at mecum last fall and did very well, theres no way I'd take my chances at a no reserve auction.