Any opinions about the Mecum Houston GTs (3 of them)
- Thread starter Tomcat
- Start date
I recommend the App "Hammer Price Live." For entertainment purposes only. Obviously something is wrong with the Heritage. Might be a repaint or salvage. Don't have enough info but just look at the pic - no pin striping.
Black 3885 mile car sold for $269,500. That is including fees. Hammer was $245k.
Black 3885 mile car sold for $269,500. That is including fees. Hammer was $245k.
You can never really know that number. It's not uncommon for them to waive the seller fee to get the buyer fee. I've literally heard Dana Mecum on the mic live on TV telling a seller he will waive the fee if he'll eliminate the reserve. Auctions in general are a total crapshoot, and I frequently do not buy the results, either high or low.
In addition to above, most, if not all, auction houses can/will shill bid up to the reserve. They claim their intent is to stimulate bidding. I am opposed to the idea for a host of reasons. For instance, if car does not sell, it artificially inflates the 'no sale price', allowing them to say we got bids up to 'x' when in fact its not true.
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NorthwoodGT
GT Owner
I've run many a car thru the auctions and they get you in a head lock and tell you what the "real" money is on the bidding. I think it's sickening myself because they keep shill bidding it up until one lone bidder goes just a touch over the highest shill bid and then they own it. it's too easy to get caught up in the auction bidding process but that being said, it usually tells you right on the back of your consignment sheet that they have the right to bid it up.
PS: Dave- surely you jest. someone would re-paint or change a color to make it a Heritage??? lol . I know I know, don't call you Shirley! lol
PS: Dave- surely you jest. someone would re-paint or change a color to make it a Heritage??? lol . I know I know, don't call you Shirley! lol
THamonGT
GT
I was there Friday and saw the red car go through. No sale at $175,000, 4 options, Hennessey 700 package upgrade, 46,902 miles. Hennessey package scared some off with the miles. I didn't see the other two go through. I did look at the black car, 4 options, no center caps, 3,885 miles, looked good and heard it sold for $264,600 with a 8% com. Didn't look at the Heritage but pictures on interior don't look good.
shelbyelite
PERMANENTLY BANNED
- May 10, 2007
- 1
That was not originally a heritage car. That's a previous salvage car that was repainted to gulf colors by "someone" in Texas
FENZO
GT Owner
The Bama show white NFGT had no center caps on the wheels. WTH is going on? Cap theft!
Makes me wonder if they remove them just in case.
Makes me wonder if they remove them just in case.
NorthwoodGT
GT Owner
timcantwell
Le Mans 2010 Sponsor * Moderator
I had an exotic car dealer give me a call yesterday to inform me that a twin to the car I was looking at at their dealership just sold at Barrett-Jackson for $20K more than their asking price (which, by the way was priced much higher than comps at other dealers). He wanted to pass this info to me assuming that this event meant that: 1. Values were rising on this particular make and model, and 2. Their asking price was relatively low. Naturally my response was to educate him about auctions in general. They are one-off events fueled by ego and often alcoholic drinks. By no means true indicators of the true marketplace.
NorthwoodGT
GT Owner
it takes some big ones to play the auction game and play it well. I know this is going back awhile but I took 5 cars to BJ one year and decided to run them all thru as a continuous collection. just as my first car came up on the stage (with the other 4 behind it) the U.S. bombed Kuwait for the first time and all the big TV screens around the room switched over to CNN to watch the camera on the nose of the first bomb go into the building. The whole place got real quiet and needless to say, the auction was all over. the 5 cars got a nice ride from Reliable Carriers out there and a nice ride back home. I was so done with auctions!
Dwhite
Member
I have never been to an auction, but all the things I hear and the way they hammer one car in 3 seconds and take 5 minutes with another makes me sure I will never buy or sell at an auction. Especially at no-reserve.
Sinovac
GT Owner
Many of those auctions are a joke. Watch a RM or Sotheby's auction to see how it should be done.
Did you have an opportunity to look this car over? I was wondering if it was either the miles or the Hennessey package that may have been the more detrimental to it not hitting reserve. If you did perhaps look at the car, what would you describe its overall condition as? TIA!
THamonGT
GT
Overall condition was very good with very little wear showing with the 46,000+ miles. I think the package was slowing the bidding somewhat. I was told today that the $175,000 was a real and very firm bid and the estate owner would not take that for the vehicle. Nothing as to appearance was a,deimnt to the vehicle.