Posted by Marty [162.158.146.177] on Saturday, January 18, 2020 at 21:14:19 :
In Reply to: Re: maybe posted by Matt Wilson [172.69.68.246] on Saturday, January 18, 2020 at 12:57:51 :
I’ve auctioned many vehicles at big auctions. Basically what happens is the “boys” corner you before the car runs through. If it’s an auction with a reserve price, they will hammer you to lower the reserve even before bidding starts. They make it very clear that they need to know the absolute lowest price you will accept for the car so they know how far they can bid it up themselves. If your reserve seems reasonable, they’ll spend a considerable time on the block trying to reach that number & they’ll bid it up close to what you’ll sell it for, knowing that once it goes over to the tent...if someone wants it, they’re going to obviously have to bid higher than the bidding went to....which often happens after the auction. If your reserve is unreasonable they just run it through & out it goes.
Then if you’re at an auction like Barrett Jackson...those are “no reserve” auctions right? Wrong...no idiot would sell an expensive car with no reserve. So they do exactly what I described above except they pretend it’s sold until after the auction at which time the owner...usually a dealer at BJ, takes the car home.
See BJ Auctions caters to dealers that bring several cars every year. They reserve spots a year in advance & they get the best spots. If joe average tries to get a car or truck in without the help of a regular...you’ll likely get a spot where all the big wigs are eating dinner & they often screw the little guy.
Bottom line...Barrett Jackson is not a good place for the small guy to sell a vehicle. There are many auctions in Scottsdale in January & lots of good ones for guys like us but BJ is not one of them.