Mecum Dallas Auction

[TexRiv_63]

A buddy and I went to the second annual Mecum Dallas auction yesterday as spectators. It was at the downtown Dallas Convention Center which is easy to get to with plenty of covered parking and pretty good amenities. I have watched Mecum auctions on TV on the Velocity channel but this was the first I actually attended. We were pretty much blown away when we entered, they advertised having 1000 to 1200 consigned cars and I doubt they were lying, the amazing part was that they were all in one seemingly endless room! We were the proverbial kids in the candy store for the rest of the day, walking from one end to the other drooling over every kind of car you could think of and watching the bidding action from up close. We were very impressed with the quality of most cars, the layout and presentation of the viewing areas, and the professional handling of the auction itself. I have never bought or sold at an auction but based on what I saw I would definitely consider doing so with Mecum. I took a bunch of pictures and will share them here, starting with some general layout shots:

[Guest Mochet]

Was there an admission fee?

[Durant Mike]

Been watching some of it on TV. Prices seem to be getting back to earth again and not those crazy prices we saw before. Cars going for over $100,000 are going between $50,000 and $80,000 with a few exceptions. I don't mind watching it on TV, but don't know if I'd sell with them. They usually pressure the seller to lift the reserve and they move the cars through so fast. Obviously a high volume sales tactic.

[Guest PhippsAuto]

My husband went both Wednesday afternoon/evening and again today, with a good friend of his who has a Corvette collection (I think he has 38 of them, or something like that). My husband felt the same way --- like a kid in a candy store, and he loved the facility. He hadn't been down there before (I've been there with one of our sons for the NFL Experience during Super Bowl week). I watched some of it on TV and fell in love with a 1969 Camaro convertible that was painted blue with a black stripes down the middle. That was a beautiful car, and if I were rich and could buy any car I wanted, I think I'd have to buy that one. I think the Fast N' Loud TV crew went for part of the auction, too; they took 3 cars down there to sell. Don't know how they did.

[NTX5467]

It should be noted that Mecum "plays" to a different customer demographic than B-J does. A somewhat different mix of vehicles, sometimes. And, "different sale prices".

At B-J, the seller pays a "commission" to sell the car at "No Reserve" (all B-J auctions are "no reserve"). The buyer pays a commission to the auction company. AND with all vehicles being sold, everybody goes home with some money.

Setting the "reserve" is always tricky. The seller wants it high enough to recoup their investment, just as the auction company wants it higher so they get a higher $$$ value from their sales commission percentage. Then they'll use the "No Reserve" vehicles to attract potential bidders and spectators looking for a bargain.

The pictures look like they were in the upper level of the Dallas Convention Center. That's where they normally have the Dallas New Car Show each year. You have to go up the escalators to get there. There's also a ground level area, though. Either way, a HUGE place. From experience, be sure to go and leave before they close the place! One year, I parked in the parking garage, entered on the north side of the building, to the east. When I left just before closing time, the gate I'd driven in through was closed, as was other close-by access. I had to walk back into the building and then walk over the street to get to the garage area, hopefully. I ended up finding the meeting areas on the EAST side of the building. I finally found some DPD security people who showed me how to get "on the other side of the wall" to get to my car. Easy once I'd already walked about a mile or so to get to that point! I usually enter on the south side of the overhead walkway, to the east and down to park. I was in better shape back then, fortunately!

Sounds like a good auction. Possibly it'll be back next year?

Just some thougths,

NTX5467

[TexRiv_63]

It should be noted that Mecum "plays" to a different customer demographic than B-J does. A somewhat different mix of vehicles, sometimes. And, "different sale prices".

At B-J, the seller pays a "commission" to sell the car at "No Reserve" (all B-J auctions are "no reserve"). The buyer pays a commission to the auction company. AND with all vehicles being sold, everybody goes home with some money.

Setting the "reserve" is always tricky. The seller wants it high enough to recoup their investment, just as the auction company wants it higher so they get a higher $$$ value from their sales commission percentage. Then they'll use the "No Reserve" vehicles to attract potential bidders and spectators looking for a bargain.

The pictures look like they were in the upper level of the Dallas Convention Center. That's where they normally have the Dallas New Car Show each year. You have to go up the escalators to get there. There's also a ground level area, though. Either way, a HUGE place. From experience, be sure to go and leave before they close the place! One year, I parked in the parking garage, entered on the north side of the building, to the east. When I left just before closing time, the gate I'd driven in through was closed, as was other close-by access. I had to walk back into the building and then walk over the street to get to the garage area, hopefully. I ended up finding the meeting areas on the EAST side of the building. I finally found some DPD security people who showed me how to get "on the other side of the wall" to get to my car. Easy once I'd already walked about a mile or so to get to that point! I usually enter on the south side of the overhead walkway, to the east and down to park. I was in better shape back then, fortunately!

Sounds like a good auction. Possibly it'll be back next year?

Just some thougths,

NTX5467

One thing for sure is that the auction company always makes money. We went as spectators which cost $15.00 each admission, I felt it was well worth that to see the cars and get some entertainment from the auction. The bidders each pay a $100 registration fee plus admission each day, or "Gold" bidders pay $500 which includes admission to the entire auction for the bidder plus 3 guests and up-front reserved seating. And of course there are both buyer and seller premiums on top of the sale price. As successful as the auction appears to be I'd be very surprised if they don't come back next year.

[motoringicons]

Mecum does a great job at all of his auctions. What is most impressive is that Mecum gives his sellers a check before they leave the auction. There is no 30 day waiting period to get paid like most of the other auctions.

[smithbrother]

Here in Indy, and I assume elsewhere, the cars aren't given a lot of on the block time as they have so many cars to auction, and so LITTLE TIME.

I have attended the Indy auction three years, and enjoyed each.

A buyer MUST DO HIS/HER HOMEWORK, period. Know what you are bidding on.

Dale in Indy

[TexRiv_63]

Here are some additional pics - they did not have a lot of unmodified prewar and 40s cars as that is not their specialty but there were a few nice ones. Most were from the Cars of Hallbrook, a collection that was sold on wednesday night. This collection was top notch in that all cars were either ultra low mileage originals or top end restorations. Many of the prewar cars were described as past AACA senior winners - enjoy.

[D Yaros]

The bidders each pay a $100 registration fee plus admission each day -

Not saying this is incorrect, but it seems mighty strange to me that the bidder registration fee does not include the cost of daily admission. That seems a bit "nickel & dime-ish" to me?

[TexRiv_63]

The bidders each pay a $100 registration fee plus admission each day -

Not saying this is incorrect, but it seems mighty strange to me that the bidder registration fee does not include the cost of daily admission. That seems a bit "nickel & dime-ish" to me?

I went back and checked, the admission is extra only at the Bloomington Gold and Back to the 50s auctions, admission is included for the rest. I also checked on the buyer's commission, it is 6% on cars over $10,000, supposedly one of the lowest rates.

[NTX5467]

After I saw the earlier post, I went into the website and looked at what was in the Dallas auction. Quite an array of vehicles, including many with ultra-low miles, plus many very nice cars. From the pictures of the cars, many were "not from around here", from the locales the pictures were made in.

I clicked on the other various links, one of which noted the various expenses/commissions for spectators, bidders, and purchasers.

It's always nice to see some low-production factory hot rod, outside of the realm of the "more expected to see" vehicles. In this respect, the '63 Galaxie 500/XL convertible with the 406 V-8 fits perfectly. Still had the model-engine-specific 15" wheel covers on it. The 406 was initial-production '63, but was soon overshadowed by the 427 2x4bbl model which replaced it.

One thing I like about these car auction websites is that they usually have lots of pictures of the OEM-productioin-correct vehicles. I've been building a big picture file of those cars. I don't know what I'm going to do with it, but it's cheap entertainment and reminds me of how things used to be.

Enjoy!

NTX5467

[Guest mikelj]

Last year, at Mecum Dallas, a member of our Corvette organization (NCRS) had posted that the local Dallas Corvette club members volunteered to drive the cars (not just Corvettes) across the block. He reported most of the cars would not start or run and had to be pushed or towed around the place and on and off the block. Some had leaks that were visible and thus were rushed on and off. He said the mechanical condition of many cars was poor even if they looked good, like many had been sitting for a long time without being driven. That would be the worst part of buying a pig in a poke at the auctions, you can't drive them or see much about them mechanically. I'll pass on auctions.

[TexRiv_63]

Last year, at Mecum Dallas, a member of our Corvette organization (NCRS) had posted that the local Dallas Corvette club members volunteered to drive the cars (not just Corvettes) across the block. He reported most of the cars would not start or run and had to be pushed or towed around the place and on and off the block. Some had leaks that were visible and thus were rushed on and off. He said the mechanical condition of many cars was poor even if they looked good, like many had been sitting for a long time without being driven. That would be the worst part of buying a pig in a poke at the auctions, you can't drive them or see much about them mechanically. I'll pass on auctions.

What you describe is my big concern also. I had gone to another auction in Dallas years ago (Kruse?) and saw that problem plus a lot of cars with resale red paint and everything else a mess. We were looking very closely when we were there and overall these were very nice cars visually. They did tow some cars to the on-deck lane but almost all started up and drove onto the block. They push them from the block to the end of the bidding area then they start up and drive to rear of the building. The bidders are definitely taking a chance on mechanical condition. Has anyone bought from these auctions? - if so what was your experience?

[D Yaros]

I went back and checked, the admission is extra only at the Bloomington Gold and Back to the 50s auctions, admission is included for the rest.

Thanks for checking on this and reporting back. What you found conforms to my personal experience from a few years back.

[TexRiv_63]

It's always nice to see some low-production factory hot rod, outside of the realm of the "more expected to see" vehicles. In this respect, the '63 Galaxie 500/XL convertible with the 406 V-8 fits perfectly. Still had the model-engine-specific 15" wheel covers on it. The 406 was initial-production '63, but was soon overshadowed by the 427 2x4bbl model which replaced it.

On friday there was also a 63 XL hardtop with the 406 / 4-speed, a pretty nice original car with patina but no damage. I saw them start it up and drive it to the block, sounded pretty good. Later I saw it and found out it sold for $15,000, seemed like a pretty good deal to me.

[Guest Mochet]

It's fun to see "backstage" at the RM Hershey auction, which I suppose is similar to other vintage car sales. They try mightily to get every car running so it can be driven onto the sale stage. This involves two mechanics, a big battery booster and a lot of fast thinking. These are cars from the 1880s to the 1970s, so starting them involves everything from mesquite wood chips (last year's French steam car) to wild cranking. Almost every one makes it the two hundred feet up the ramp. After that, it's the buyer's worry!

Phil

[TexRiv_63]

Some more pics, Mecum specializes in muscle cars and there were plenty of nice ones there. There was a 68 Hurst Olds, 1 of 515, and THREE 69 Pontiac Trans Ams out of 697 made. Boss 302s, Boss 429s, Hemi Cudas, wish I could own them all...

[The Continental]

It's not just mechanicals. Could be lots of bondos under that pretty paint.

[D Yaros]

I went to a Mecum auction because a '60 Olds conv I was interested in was being offered. It was decent looking, say a 10-20 footer. Magnets and a mirror should that each quarter panel had literally bondo in 5 lb. globs in the lower rear. Made the no brainer decision to pass.