Mecum Auction 64 Riviera

Nice looking car sold today at the Mecum Auction in Houston $8,250, unless it was less than it looks, that seems under priced. Mike

For some reason I couldn't open your image for a larger one - any more info on this one? $8.25K looks like a deal unless there were other issues. I've attended many auctions through the years, from Barrett-Jackson in Scottsdale AZ to McCormick in Palm Springs CA, and needless to say, Rule No. 1 is Buyer Beware. In fact it's Rule No. 2 and 3 too!

wow. I am selling mine and asking 13K

It is likely the car was consigned by a local owner and not stock from an auction circuit dealer. At that price it is probably in a dealer's stock for spring sales now. If it doesn't sell for $14,999 privately it will begin making the auction rounds this summer, changing from circuit dealer to circuit dealer as part of the show.

I wasn't born cynical. I learned it by observation.

Bernie

There may be other pics on the Mecum infonet site. You can watch the auction on your computer. Bernie, I am sure the auction circuit is a cutthroat world and I too have learned to be cynical. From watching the auction, I think I should build a Chevy swb Pickup instead. Mike

Here ya' go.

http://www.mecum.com/auctions/lot_detail.cfm?LOT_ID=HA0414-178940&entryRow=842

Here ya' go.

http://www.mecum.com/auctions/lot_detail.cfm?LOT_ID=HA0414-178940&entryRow=842

I've seen those pics before either Craigslist or Ebay. Still looks like a deal. Mike

Looking at those pictures reminds me! Anyone getting their car all spruced up for summer can pick one of these up at Lowes:

I think the price is good, as well. If anyone hears about me kicking the bucket, its in the price range my wife has been told to sell my Riviera for, maybe a little more. When I'm alive its significantly more.

My heart goes out to the local guy who gets talked into consigning his personal car with a lot of hype and BS about the big auction prices, then urged to lift his reserve while standing by the auctioneer and ends up with about 4500 bucks in his hand for a car like that after fees, charges, and taxes; yep, sale of collectible items is taxed income at a hefty rate. Try hiding that $6800 bank transfer and see.

Bernie

My opinion, I would never auction a car worth less than 35-40k. With fees and everything, just not worth it unless you think you might have something special and want to try your luck. Bernie is 100% right about the auction circuit. JMO, any relatively nice running 63-65 Riv is worth at least 10k. Think of it this way, a Nova in the same condition is worth about the same money. Which would you rather have?

It's amazing to me that there are no more Riviera's for auction. This is, I think the only one in the Houston show, and not more than a handfull in the last several years. Most of those it seems were customs. Wildcat 2 dr hardtops are even more scarce. Convertibles before 65 yes but few after.

wow. I am selling mine and asking 13K

Where is your car listed?

In general, based on my experience, cars under $20,000 are wisely bought at auction. Above that it's not as easy to find the same deals.

I have a theory that long term you will see anything pre-65 that is desirable go way up in value if it's in top condition. Mostly because you cannot get parts for those cars. 50's stuff especially. Muscle cars are not going to go down, but I see a slowly changing taste towards highend pre-muscle.

Where is your car listed?

I had it on craigslist in Sonoma, Ca. I don't think it is still active right now. Waiting to put my carb back on then I'll try again.

Bernie's input on this is valuable, seems to me.

My opinion, I would never auction a car worth less than 35-40k. With fees and everything, just not worth it unless you think you might have something special and want to try your luck. Bernie is 100% right about the auction circuit. JMO, any relatively nice running 63-65 Riv is worth at least 10k. Think of it this way, a Nova in the same condition is worth about the same money. Which would you rather have?

That's a no brainer. Of course a 63 to 65 Riviera. That's a car with a pedigree. A Nova is just a Nova. In Spanish it's even "no va".

I've owned a Riviera and have only driven or rode in a Nova. Just looking at a Riviera is exciting. There's nothing exciting about a Nova beyond transportation.

And a word about reserves/ you can get slaughtered if you cave in to pressure and lift them. In the Buick monthly mag they list action at various auctions and post the "sell through" rate, which I'm guessing is just what it says it is. Seems like maybe 15-30% of the cars do NOT sell. I learned this lesson while auctioning off some collectible Lionel trains a while back. Good thing I had reserves on most of the big stuff. And a few friends in the audience.

Great advice and observations re auctions. Here in Monterey we have three big ones going on at the same time during Pebble Beach Concours d' Elegance. They are fun to watch and stroll the paddock looking at cars. 'Tho I'd bet "paddock strolling" will be stopped next year as two cars -both tri-five Chevys- were stolen from paddock areas and another-Early 60's 'vette - from a motel parking lot this past year. Personally I would not consider selling nor buying a classic car at auction. Dale

That's a no brainer. Of course a 63 to 65 Riviera. That's a car with a pedigree. A Nova is just a Nova. In Spanish it's even "no va".

I've owned a Riviera and have only driven or rode in a Nova. Just looking at a Riviera is exciting. There's nothing exciting about a Nova beyond transportation.

I'm not Spanish speaking but didn't I hear somewhere that the reason GM couldn't sell Novas in Mexico was because No Va means "does not go"?

I'm not Spanish speaking but didn't I hear somewhere that the reason GM couldn't sell Novas in Mexico was because No Va means "does not go"?

It's supposedly not entirely true but some of my Spanish speaking friends could speak from experience about how that term related to their cars.

"No Va" means he, she or it won't go

OK Riviera People: This car sold for what someone was willing to pay for it. I think it's worth 12,750. No, how about 15 grand? No, how about 20 grand? A legit offer is for the people who have the dough and are willing to step up with the dough at the time it's for sale otherwise it's speculation. The Astros could win the series too.

Jackson-Barrett announces a 15% buyers premium (Mecum 10%?)and a seller's premium of 10%. The seller of this silver Riv gets the $8,250- $825, Net check of $7,325. The buyer really gets soaked. He pays $9400 and gets to give the DMV another 10% tax and license. $10,300. If the buyer is lucky enough to get to hire a transporter he's in to it another $1,200-1,500 Total? Easily 11 grand. prices? Anyone's guess. Mitch

Gee, I thought the forum did a lot of speculating...... for fun.

Bernie

The Mecum folks are coming to Harrisburg PA this summer. I called for prices to list / sell a car. The man I spoke with said it would cost between $500 and $1,000 to list a car and they charge 8% commission. I plan on heading out to the auction with a group of folks from the local clubs to observe.

OK Riviera People: This car sold for what someone was willing to pay for it. I think it's worth 12,750. No, how about 15 grand? No, how about 20 grand? A legit offer is for the people who have the dough and are willing to step up with the dough at the time it's for sale otherwise it's speculation. The Astros could win the series too.

Jackson-Barrett announces a 15% buyers premium (Mecum 10%?)and a seller's premium of 10%. The seller of this silver Riv gets the $8,250- $825, Net check of $7,325. The buyer really gets soaked. He pays $9400 and gets to give the DMV another 10% tax and license. $10,300. If the buyer is lucky enough to get to hire a transporter he's in to it another $1,200-1,500 Total? Easily 11 grand. prices? Anyone's guess. Mitch

Paul is right, Mecum is 8% to seller (and to buyer I think), plus a listing fee of $500 - $1,000.

I talked to a friend of mine who was at the auction, and he said the Riviera wasn't that nice, but it was friendly, and waved at everyone as it went by. Lots of body filler and / or poor prep work. You can also see in the pics that the interior and engine compartment aren't very clean/detailed and the brightwork doesn't look very nice. Hopefully whomever bought it is local so they don't have to pay shipping on top of everything else.