[DeTomaso] Barrett Jackson results

[Julian Kift]

BJ operates on "all no reserve" all of the time. 

 

I understood that a seller could buy his/her car back, but ultimately like any bidder it's going to cost you the 10% buyers premium. Now there may be instances where a seller sees that as an option against a ridiculously low sale price, but are you saying there is a more preferential deal than that for sellers? I cannot see how that would be sustainable or legal, as an owner would have undue incentive to bid his car up in which case it might as well be a reserve auction. 

 

I heard the white GP4 had bid up to $59K in Palm Springs with a no sale, IMO someone was being way too greedy at that point and likely got burned at $27K (less sellers fees).

 

Julian
 
> To: detomaso at realbig.com
> Date: Sun, 27 Jun 2010 01:07:55 -0400
> From: pantdino at aol.com
> Subject: Re: [DeTomaso] Barrett Jackson results
> 
> 
> I gather the BJ auction was an "all no reserve" one because there don't seem to have been any "no sales."
> But remember that those cars did not necessarily actually sell-- most auction houses have a deal where the seller can "buy" his car to prevent it getting sold for a ridiculously low price.
> 
> Jim
> 
> 
> 
> 
> 
> 
> -----Original Message-----
> From: MikeLDrew at aol.com
> To: P6746 at aol.com; detomaso at realbig.com
> Cc: POCA1 at aol.com
> Sent: Sat, Jun 26, 2010 5:43 pm
> Subject: Re: [DeTomaso] Barrett Jackson results
> 
> 
> 
> n a message dated 6/26/10 17 40 17, P6746 at aol.com writes:
> 
> Lot 342: '72 Group IV clone Bid $27,000 Total cost $29,700
> 
> Lot 360.1 '73 "Pure Gold" Bid $30,000 Total cost $33,000
> 
> Definitely not a place to move a Pantera.
> 
> I don't understand why people continue to entrust Panteras to B-J. 
> othing against the B-J people, but the B-J audience simply isn't interested in 
> hem, and the bidding reflects that. Russo and Steele is probably a more 
> ppropriate venue for a Pantera.
> Of course, Pur Gold would be a tough sell in any market. Heck, the gold 
> lating alone is probably worth today's purchase price! I shudder to think 
> hat George sunk into that car, between the restoration of the body, the 
> eather interior, the gold plating, the fuel-injected 4.6 engine, etc. etc. but 
> wouldn't be surprised if it was on the far side of $150K. :<(
> Mike
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