steelman

65 GS at Barret Jackson this weekend

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14 hours ago, lrlforfun said:

OK Riviera People: Plus the juice. Add, what 15% buyer's fee.  Mitch

Juice is already in it, $70 hammer price, plus $7k (10%) commission = $77k.  

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22 hours ago, Rivman said:

 

With their fees you hit it right on the head …

 

1531265013_Green65GS.thumb.jpg.b60f5f22b94a4e8fb783921ff7d5d6fb.jpg

What is my prize? Rivmans 65 would be a nice present!!!!! Looked at 2 of my Dads last 65s he sold a few yrs back in the last month or so. One he sold in 03 and took a while to track down and is rough but still solid and his GS he had restored that turned out horribly and even a lawsuit and judgement. That one is actually for sale on CL right now but timing is horrible and which he held back a month more before listing but may try to make a deal if he hasn't sold it yet.

D

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Seems like these Gran Sports are bringing decent money lately...

 

Out of curiosity, if this car hammered at $70k, and BJ added a 10% commission to bring the purchase price to $77k,, how much did the seller actually get?

 

What fees and commissions does the seller have to pay?   In this case, how much actually gets into the seller's jeans?

 

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I believe this auction had a ten percent “sellers fee” as well as a ten percent “buyers premium”. In this case, the seller would realize 63,000.00. (70,000 times 10 percent = 7,000.00 sellers fee).

 

Kevin

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1 hour ago, kevin1221 said:

I believe this auction had a ten percent “sellers fee” as well as a ten percent “buyers premium”. In this case, the seller would realize 63,000.00. (70,000 times 10 percent = 7,000.00 sellers fee).

 

Kevin

Thanks Kevin!

 

Make sense - BJ's got you coming and going!  It's a business, after all.

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12 hours ago, kevin1221 said:

I believe this auction had a ten percent “sellers fee” as well as a ten percent “buyers premium”. In this case, the seller would realize 63,000.00. (70,000 times 10 percent = 7,000.00 sellers fee).

 

Kevin

Plus seller has to pay the entry fee, which is typically $500 - $1,500, depending upon the auction venue, date and time, etc.  Usually the seller will also incur transport costs, hotel stay, etc.  He probably pocketed about $60k  after all that. 

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One of my friends from Mass. went to Scottsdale to sell his GSX. Put a reserve on it & didn't sell. All in all by the time he got back home with the car he was out of pocket close to10K. Not a cheap endeavor.

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On ‎9‎/‎30‎/‎2018 at 5:31 PM, misteroman said:

What is my prize? Rivmans 65 would be a nice present!!!!! Looked at 2 of my Dads last 65s he sold a few yrs back in the last month or so. One he sold in 03 and took a while to track down and is rough but still solid and his GS he had restored that turned out horribly and even a lawsuit and judgement. That one is actually for sale on CL right now but timing is horrible and which he held back a month more before listing but may try to make a deal if he hasn't sold it yet.

D

 

I figured since you had started the guessing you would be the one offering the prize?

 

It depends on which '65 you are referring to?

 

Good luck in your search for your dads Riv.

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On 10/2/2018 at 12:36 PM, telriv said:

One of my friends from Mass. went to Scottsdale to sell his GSX. Put a reserve on it & didn't sell. All in all by the time he got back home with the car he was out of pocket close to10K. Not a cheap endeavor.

 

Ouch!

 

That's why I decided against auctioning my '68 Eldorado a few years back.  I sold it privately, but will never know if I could have done better at auction.  The up front costs I'd have to bear if the car didn't sell at auction deterred me from going that route.  

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