Reserve or No Reserve

[boblichty]

Keeping with Steves rules no business names or nasty stuff.

But for those of you who participate in classic/antique car auctions. Do you go reserve or no reserve (absolute). That is do you place a minimum on your car for sale or do you let her fly with no safety net?

Some auction companies require no reserve on cars under $100,000. Another I approached told me I could buy my car back IF I would go at No Reserve IF I paid both commissions. Others go both ways and one claims all cars are sold with a "reasonable" reserve.

Years ago when a car was at an auction with a true No Reserve offering people paid attention. Somehow, it doesn't feel the same any more. Anyone got an opinion with out picking on the specific auctions? Keep it positive.

[Guest BJM]

I only attend no reserve beater auctions - project cars.

But - you are correct, no reserve gets your attention. The problem IMO is NO RESERVE at ANY auction limits you to those in attendance. What if you are near the end and the money runs dry?

It sounds like you are in the high stakes, Arizona based auction crowd - I'll never run in those crowds.

If I ever get a car restored to nice show condition witha pedigree, I will offer it at RESERVE. There are many markets for old cars - ebay, live auctions, forums, and private handshake sales between club members.

Actually thinking about buying my car back from some slimmy auction house about makes me want to puke. That's the definition of greed in our hobby.

[boblichty]

AS I mentioned I wasn't trying to target any auction company, just see if any one on the forum has had any strong expereinces or feelings about going with or without reserves at auctions in recent times.

I get to attend a lot of auctions across the country due to my work, the more flashy the sale is, the less it suits my personal taste, that is just personal. I havn't been to Arizona in three years in the winter. Florida is closer. And I am not a high roller enough to gamble at No reserve personally.

But, auctions are highly entertaining and great fun, I can sit in one all day, almost miss lunch and most likely would not get up except my 60 year old bladder starts calling to me after a while. LOL.

AS to your last comment, there are all sorts of auction firms, we don't need to name them but get more than three car guys in a room and you get a real quick read on which ones are honest, which ones are not, which ones pay quickly, which ones don't pay at all, and so on. But it is not far to group them all in the same category as a couple of the bad ones.

Another little know fact is a lot of the auctioneers and the ring persons and sellers and buyers assistants are free lancers so you see them at different companies sales. They to make a big difference in the out come and some are great, some good and some not so good. I guess that makes them human. I think we all have our favorite styles. I do.