355 Spiders at Barrett-Jackson

Be sure to let us know what they end up going for.

 

That is a good reason to be at the auction. Not that there is not about 1000 reasons to go anyway!

 

No reason to go, he said they were spiders not GTS... haha...

 

No GTS....but a Fiorano trumps them all....even GTS. Haha...

 

I'll be there wed.... Will be watching, but I suspect they will go for far less than we would like.

 

I wouldn't be so hasty in that assessment. Cars, all cars that cross the block in Prime Time at least, seem to be WAY out of the conventional market at BJ. I know that there are usually deals to be had when a car crosses at 2:00pm on Wednesday or Thursday, but if it crosses while the cameras are rolling at peak hours, it will sell for well over the actual real market value, IMHO.

 

I'm going on Monday and Tuesday. Do we know when they're going through the bidding tent yet?

 

Lot 815 is the 1999 red F1 and goes sometime Thursday
http://www.barrett-jackson.com/application/onlinesubmission/lotdetails.aspx?ln=815&aid=466

Lot 995.1 is the 1997 Black F! on Friday
http://www.barrett-jackson.com/application/onlinesubmission/lotdetails.aspx?ln=995.1&aid=466

Lot 1587 is the 1999 Red F1 Fiorano and goes on Sunday....I'll be gone.
http://www.barrett-jackson.com/application/onlinesubmission/lotdetails.aspx?ln=1587&aid=466


Lot1060.1 is a 2003 360 Modena on Friday
http://www.barrett-jackson.com/application/onlinesubmission/lotdetails.aspx?ln=1060.1&aid=466

Lot 5014 is a 1972 365 GTB on Saturday
http://www.barrett-jackson.com/application/onlinesubmission/lotdetails.aspx?ln=5014&aid=466

 

I hope I am wrong!!!!

 

There are some great deals for sure, You can buy some of these truck projects, part them out and double your money

 

What determines the time or day a car goes up for auction? Do the sellers pay a premium or something?

 

Very true. I was there two years ago. Prime time is insanity. Rich people flexing their bidding muscles.

 

I think that's right, but have no first-hand knowledge.

 

"Prime" time slots have a higher fee for consignment, not a greater seller's commission fee. Also the auction house determines which cars will bring the best attention for those time slots.

 

Lot 815:
Watched this one go live last night - very disappointing hammer price of $49k ($53,900 all in). The TV announcer (not sure if it was Bob Varsha or the other guy) really shat all over the 348 while they discussed the F355. Pity.

Lot 995.1:
That's more like it - must have gone for $67.5 hammer ($74,250 all in).

Can't wait to see what the Fiorano does !!

 

I believe that black one was the same one that sat at DC Motors in Anaheim for awhile. Back then they were asking $62.9K.

I'll also be watching very closely that Fiorano as well.

 

Sold -- Hammer down at $73K.

 

What is the "all in" price? Is that based on a % commision to the auction house? Who pays the difference seller or buyer?

 

Never bought or sold a car at auction, buy my understanding is that both the buyer AND the seller pay the auction house.

Maybe we should be in the auction business.

 

Yeah really, who makes the money


Support your local exotic dealer


Wait I said that back in the 80's but we wont go there LOL

 

I believe that there is a buyers commission and a sellers commission.i.e., the red spider. If you look at the listing it shows a sale price of 53,900 wihich represents the hammer price of 49,000 plus 10% buyers commission of 4900 = 53,900. I am not sure if the seller gets 49 and the auction house gets the 4900 or if the seller actually gets less and the auction house more. I do believe that there is negotiation on that part of it as well.

 

I believe it works like this...

Lets say, hammer, 50k

Buyer pays 55k to own the car (50k + 10%)

Seller nets 47.5k. (Hammer price less 5%)

Auction company makes 12.5k.

Not a bad business model...

 

It's marketing 101 fellas. :>) I wanna be on tv!!!

 

Best of all, their investment in the car itself? Zero (yes, of course they have a lot of overhead, but they didn't buy the car or tune it up, or warranty the thing).