Den41Buick Posted January 30, 2022 Share Posted January 30, 2022 Ok. Just came in after snow blowing 20 inches of snow off of my driveway. It took 2 hours. I turned on BJ to find them auctioning a 1971 Chevy Blazer. It sold for 400K. Has someone lost their marbles? Its not even a classic. 1 1 1 Link to comment Share on other sites More sharing options...
JCHansen1 Posted January 30, 2022 Share Posted January 30, 2022 The week before someone paid $154k for a 1986 Jeep Grand Wagoneer down in Kissimmee. We live in crazy times. 1 Link to comment Share on other sites More sharing options...
Swear57 Posted January 30, 2022 Share Posted January 30, 2022 More money then brains. Is this reality TV all fake. The last place where I would buy a car. 3 Link to comment Share on other sites More sharing options...
1937hd45 Posted January 30, 2022 Share Posted January 30, 2022 Black Camero for $190,000.00 I could buy two really nice Pre WWII cars for that. 2 Link to comment Share on other sites More sharing options...
ted sweet Posted January 30, 2022 Share Posted January 30, 2022 if dont like it dont watch. 1 1 Link to comment Share on other sites More sharing options...
West Peterson Posted January 30, 2022 Share Posted January 30, 2022 11 hours ago, ted sweet said: if dont like it dont watch. Exactly. I don't watch, but I hear reports, and I take all unrealistic reports with a grain of salt. $500,000 for a 1987 Buick Grand National??? $275,000 for a 1987 Buick GNX??? $400,000 for a 1971 Chev Blazer??? The only people that believe those numbers are the people that have one tucked under a lean-to in the backyard. 7 Link to comment Share on other sites More sharing options...
John348 Posted January 30, 2022 Share Posted January 30, 2022 (edited) 11 hours ago, ted sweet said: if dont like it dont watch. I agree with that observation 100%! They seem to know what their market and they want to spend their money on, I would not be surprised if there is a 'little pump and dump' going on to inflate the market. It is entertainment 11 hours ago, Swear57 said: More money then brains. Is this reality TV all fake. The last place where I would buy a car. I know one person who bought a car at B/J Scottsdale, he was there to appraise some other vehicles, the car was early in the docket and it was everything it was claimed to be, and has won some pretty high awards as a stock restored car. He paid far less then the cost of restoration. He also felt the quality of the cars at B/J Scottsdale were much higher then what he had seen at Mecum Kissimmee. 11 hours ago, 1937hd45 said: Black Camero for $190,000.00 I could buy two really nice Pre WWII cars for that. Bob, I agree totally but it is apples to oranges, and he probably could have bough 15 perfect Model A's for the same money but he would not even put his drink down to look at any of them 11 hours ago, Den41Buick said: Ok. Just came in after snow blowing 20 inches of snow off of my driveway. It took 2 hours. I turned on BJ to find them auctioning a 1971 Chevy Blazer. It sold for 400K. Has someone lost their marbles? Its not even a classic. Or did they? Was it another 'pump and dump" priming the pump for the next four or five blazers that they own that are coming across the block later on? I am still baffled with people paying 80K for a Bronco, which to me is wheel barrel with with windows and engine We all must remember the winner of an auction is the person who willing to pay more then anyone else in the room, for good or bad Edited January 30, 2022 by John348 (see edit history) 2 Link to comment Share on other sites More sharing options...
Ed Luddy Posted January 30, 2022 Share Posted January 30, 2022 I have a hard time believing that all of these ridiculous prices are real. Some of them are legit, but there's some of them that can't be real. It's just TV reality show entertainment. Nothing new here. 1 Link to comment Share on other sites More sharing options...
58L-Y8 Posted January 30, 2022 Share Posted January 30, 2022 If you've ever spent any time at a wholesale used car auto auction, where buying vehicles for resale is the purpose, these collector car auctions are an unreal world circus. Pure, intoxication-fueled, one-upmanship ego trips. 2 Link to comment Share on other sites More sharing options...
barry22 Posted January 30, 2022 Share Posted January 30, 2022 Don't forget the purpose of shills. And even if the owner of a vehicle ends up buying his own vehicle back after being bid up by a shill, whose to say the car owner and the auction company doesn't have some type of agreement that exempts buyer's fees for certain vehicles based on prior agreements. Rich people don't get rich because they make stupid decisions. 2 1 Link to comment Share on other sites More sharing options...
charlier Posted January 30, 2022 Share Posted January 30, 2022 Other vehicles that were auctioned at this event include: A new 2022 Toyota Tundra TRD Pro Hybrid (VIN 002) brings a $550,000 sale price. An all-new 2022 Toyota Tundra Capstone Hybrid luxury truck (VIN 001) sells for $700,000. All proceeds from both these auctions went to the Toyota U.S. Paralympics Fund Charity. I would not be surprised if the buyers of these vehicles had their tax accountants crunch the numbers to determine just how much of a charitable deduction they can take after the value of the truck is subtracted from their winning bid. At least the charity got all the proceeds from both bids. 1 Link to comment Share on other sites More sharing options...
TAKerry Posted January 30, 2022 Share Posted January 30, 2022 I enjoy the auction shows on tv. But this latest round with BJ was ridiculous. The first few days (typically the 'low end' stuff) seemed to have a min. $100k buy in. Saturday's min looked like $200k! I saw few restored to stock cars. Most though were, imo, abominations of an auto. The price for the GN and GNX seemed just plain stupid to me, unless I was selling. They would show the winning bidder smiling and high fiving all those around, usually with drinks in hand. I would be embarrassed to have spent 2 and 3 times the worth of a car!! The crowd was overwhelming. The bidders must have been pre arranged to be up front when said car came along, otherwise I have no idea how someone a few rows back could have garnered the attention. The cars going on the block was interesting in itself. Most were full of occupants, once they hit the stand, security would open the doors and let the people out, ala valet parking. Then the driver would get in to take the car the rest of the way. I have never seen anything so silly at an auction. Like a who's who among passengers 🤔 Kudos to BJ for enticing all of the bidders to spend big money. This event was a combination of a circus, carnival, rock concert, fashion show, car show, auction, etc. Fun to watch but I am in no hurry to go in person. 4 Link to comment Share on other sites More sharing options...
60FlatTop Posted January 30, 2022 Share Posted January 30, 2022 I would really like to follow the money from the buyer's pocket to the hands of the seller. I have always had the belief that there are more peas and walnut shells than money. It is not hard to imagine a few dealers listing some of their stock in exchange for "bidding dollars" to use against each other while they wait for a third party to be sucked in. If they don't catch the sucker they play the game until next time. Small town dealer auctions have some tricky stuff going on if you get into the business. Most of the used car lots in my area are floor planned by the auction house. Easy enough to do on a larger scale. The real money is when the announcer says "When we come back", "after this", or some other segway and the 28 to 32 commercials come on. They'd make TV money if they had to pay the bidders to come in. 2 1 Link to comment Share on other sites More sharing options...
1937hd45 Posted January 30, 2022 Share Posted January 30, 2022 How about some investment tips for young members of the hobby. If you can blow A HALF A MILLION DOLLARS on a V6 Buick or similar Walmart lot car from 20 years ago, were can you start the nest egg that hatches into the auction buying fund? Link to comment Share on other sites More sharing options...
Laughing Coyote Posted January 30, 2022 Share Posted January 30, 2022 You can always tell when the auction starts. CL gets full of resto-mods and other high end car that aren't listed there normally. Link to comment Share on other sites More sharing options...
George Smolinski Posted January 30, 2022 Share Posted January 30, 2022 Saw a few C1 Corvettes that were ruined by installation of a freakin’ LS engine. Thought for a minute I was watching Iron Resurrection. 2 Link to comment Share on other sites More sharing options...
Ed Luddy Posted January 30, 2022 Share Posted January 30, 2022 I've been going to wholesale dealer auctions since I was 14 with my grandfather. Still do a lot of online dealer auctions until covid is over with. Then I'll be back at them live spending other peoples' money. Even the public collector auctions up here in Canada pale in comparison to the shenanigans at Mecum and B-J. It's not reality, it's reality TV. a BIG DIFFERENCE! Link to comment Share on other sites More sharing options...
NewOldWood Posted January 30, 2022 Share Posted January 30, 2022 Money laundering? 4 Link to comment Share on other sites More sharing options...
60FlatTop Posted January 30, 2022 Share Posted January 30, 2022 GP King auctions has rescheduled its traditional February Atlantic City auction for August. Prior the the reschedule I was considering taking the 6 hour drive for a break. I have been to that auction many times since 1975. It is not so much a circus and there was always a good deal. Being February I always had the idea that a number of dealers and collections used it as an off season fund raiser by selling low line or donations. For me it was a couple of days where temperatures would be about 30-40 degrees warmer than home and a chance to buy a decent car in the $10,000 to $15,000 range to flip in the Spring or a possible keeper. That's a nice bracket that "real" old car cranks would be blind to. I don't think that stock will show up in August. I also put a check mark on the No side because of the Interstate Highway traffic in that eastern corridor. A friend just drove up from the south and said the ratio was 2:1 with trucks in the lead. The cars between have zero visibility of the road ahead. I can pass on that. Maybe I will watch the TV stuff until the guy says "When we come back". If I find myself counting the number of commercials I guess I will pass on that too. I am probably missing the message. 1 Link to comment Share on other sites More sharing options...
greenie Posted January 30, 2022 Share Posted January 30, 2022 I wonder how many remember the Atlantic City car show when it was held in the old convention center- home of the Miss America pageant. It was always a long drive in cold February weather; followed by a long search for a reasonable (ha!) parking space; and then a long walk to the arena. There was an active swap meet and I barely remember the auction. Quite a departure from BJ and Scottsdale warmth! 2 Link to comment Share on other sites More sharing options...
TTR Posted January 31, 2022 Share Posted January 31, 2022 (edited) Yaaaaaawwwnnn ! Every time I see one of these threads, I become more and more convinced G. Carlin was accurate with his assessment of "an average person and half the people/population". Someone call me back when any of you have independently/personally confirmed with a few actual buyers and/or sellers of these (alleged) outrageous/unusual auction sales having been real and money actually exchanged hands. Oh, and I will expect to see real proof also. In the meanwhile I just assume anyone believing TV show BS like these also believe other "Reality TV" shows, Santa Claus & Tooth Fairies, etc being real too. P.S. In past 4 decades I’ve met and personally know a fair number of individuals who have bought vintage cars at specialty auctions (including BJ and Mecum TV circuses) and while many have paid more than an equivalent or better car could’ve been purchased privately, none have ever paid anywhere near something like twice (or more) the “perceived market value” of such vehicles, including quite rare ones. OTOH, just about all have acknowledged it having been stupid of them to buy such car at an auction and most learned quickly from that mistake... Edited January 31, 2022 by TTR (see edit history) 1 Link to comment Share on other sites More sharing options...
Laughing Coyote Posted January 31, 2022 Share Posted January 31, 2022 5 hours ago, NewOldWood said: Money laundering? A great way to move large sums of money around and say I bought a classic car for an "Investment" 1 Link to comment Share on other sites More sharing options...
1937hd45 Posted January 31, 2022 Share Posted January 31, 2022 3 hours ago, greenie said: I wonder how many remember the Atlantic City car show when it was held in the old convention center- home of the Miss America pageant. It was always a long drive in cold February weather; followed by a long search for a reasonable (ha!) parking space; and then a long walk to the arena. There was an active swap meet and I barely remember the auction. Quite a departure from BJ and Scottsdale warmth! Think I went to that event twice in the 1970's. One year it snowed real bad and the attendance was way down. A friend was high bidder on a restored 1903 Ford one of Fords first at $7,000. 1 Link to comment Share on other sites More sharing options...
Laura S Posted January 31, 2022 Share Posted January 31, 2022 3 hours ago, greenie said: I wonder how many remember the Atlantic City car show when it was held in the old convention center- home of the Miss America pageant. It was always a long drive in cold February weather; followed by a long search for a reasonable (ha!) parking space; and then a long walk to the arena. There was an active swap meet and I barely remember the auction. Quite a departure from BJ and Scottsdale warmth! I remember it well. Great buys and a ton of original parts. Not like today Link to comment Share on other sites More sharing options...
John348 Posted January 31, 2022 Share Posted January 31, 2022 13 hours ago, 58L-Y8 said: If you've ever spent any time at a wholesale used car auto auction, where buying vehicles for resale is the purpose, these collector car auctions are an unreal world circus. Pure, intoxication-fueled, one-upmanship ego trips. It is not a wholesale used car auction, it should not be even compared to one. I would not assume that the buyers are intoxicated either. The people who traveled there and purchased bidders passes went there to buy a car. 11 hours ago, charlier said: Other vehicles that were auctioned at this event include: A new 2022 Toyota Tundra TRD Pro Hybrid (VIN 002) brings a $550,000 sale price. An all-new 2022 Toyota Tundra Capstone Hybrid luxury truck (VIN 001) sells for $700,000. All proceeds from both these auctions went to the Toyota U.S. Paralympics Fund Charity. I would not be surprised if the buyers of these vehicles had their tax accountants crunch the numbers to determine just how much of a charitable deduction they can take after the value of the truck is subtracted from their winning bid. At least the charity got all the proceeds from both bids. I had read many years ago that the donation segments of the auction were worked out in advance as far as the donors and the donation sought. I would be surprised if accountants advise was not sought. 5 hours ago, greenie said: I wonder how many remember the Atlantic City car show when it was held in the old convention center- home of the Miss America pageant. It was always a long drive in cold February weather; followed by a long search for a reasonable (ha!) parking space; and then a long walk to the arena. There was an active swap meet and I barely remember the auction. Quite a departure from BJ and Scottsdale warmth! I went several times with my father in the 70's it was a different time. Link to comment Share on other sites More sharing options...
Restorer32 Posted January 31, 2022 Share Posted January 31, 2022 I was at the Atlantic City Kruse Auction the day the IRS swooped in and took all the proceeds. I was waiting in line at valet parking next door to the Convention Center at the old Playboy Hotel (no smart comments). Two well dressed gents carrying brief cases tried to butt in line ahead of me. I started to protest until both of them turned around and I saw their pistols in shoulder harnesses. Didn't take long to put 2 and 2 together. 1 1 Link to comment Share on other sites More sharing options...
alsancle Posted January 31, 2022 Share Posted January 31, 2022 20 minutes ago, Restorer32 said: I was at the Atlantic City Kruse Auction the day the IRS swooped in and took all the proceeds. I was waiting in line at valet parking next door to the Convention Center at the old Playboy Hotel (no smart comments). Two well dressed gents carrying brief cases tried to butt in line ahead of me. I started to protest until both of them turned around and I saw their pistols in shoulder harnesses. Didn't take long to put 2 and 2 together. eBay paid Dean Kruse 110 million bucks in 2000 for the auction company and the site. 5 years later they sold the entire thing back to him for 10 million dollars. Dean was bankrupt with 3 years. Somewhere in there he bought 25-30 Model J Duesenbergs. Retail value right now would be around 50-70 million dollars. 1 1 Link to comment Share on other sites More sharing options...
kuhner Posted January 31, 2022 Share Posted January 31, 2022 Are the commissions paid on the charity cars? Link to comment Share on other sites More sharing options...
junkyardjeff Posted January 31, 2022 Share Posted January 31, 2022 I wish those auctions would just go away since it makes everyone think their vehicle is worth 100,000 dollars seen a mid 60s Chevy truck with modern drivetrain and suspension with the rusty patina advertised fro 89,000. I know too much money being passed around for them to go away. 1 Link to comment Share on other sites More sharing options...
avgwarhawk Posted January 31, 2022 Share Posted January 31, 2022 What is never shown on TV is great cars at great prices. No one is really interested in a 65 Caddy 4 door that is in great shape going for beans. Link to comment Share on other sites More sharing options...
1937hd45 Posted January 31, 2022 Share Posted January 31, 2022 Someone has to loose money at a no reserve auction, that seller in never interviewed. Link to comment Share on other sites More sharing options...
cutlasguy Posted January 31, 2022 Share Posted January 31, 2022 16 hours ago, greenie said: I wonder how many remember the Atlantic City car show when it was held in the old convention center- home of the Miss America pageant. It was always a long drive in cold February weather; followed by a long search for a reasonable (ha!) parking space; and then a long walk to the arena. There was an active swap meet and I barely remember the auction. Quite a departure from BJ and Scottsdale warmth! I was going their every year until about 10 years ago when they raised the admission to 22 Bucks a person! "Twenty Two Bucks to inhale exhaust fumes all day" "No thanks" Link to comment Share on other sites More sharing options...
Paul Dobbin Posted January 31, 2022 Share Posted January 31, 2022 I had a dealer friend who always said: "I got out bid by the Coke Machine in the back of the room" 4 Link to comment Share on other sites More sharing options...
gossp Posted January 31, 2022 Share Posted January 31, 2022 1 hour ago, 1937hd45 said: Someone has to loose money at a no reserve auction, that seller in never interviewed. One of the shows did show this once: a very upset seller because his no reserve car brought way under his expectations… for drama sake they even had a bidder upset at the auction company ignoring his bid on the same car. I want to say it was even at BJ. Link to comment Share on other sites More sharing options...
alsancle Posted January 31, 2022 Share Posted January 31, 2022 Dean Kruse: “you can’t pay too much, you can only buy too soon!” 2 Link to comment Share on other sites More sharing options...
Steve_Mack_CT Posted January 31, 2022 Share Posted January 31, 2022 7 minutes ago, alsancle said: Dean Kruse: “you can’t pay too much, you can only buy too soon!” Is that where this quote originated? Someone is credited in just about every collectible hobby I have been exposed to. 😯😉😁 1 Link to comment Share on other sites More sharing options...
George Smolinski Posted January 31, 2022 Share Posted January 31, 2022 17 minutes ago, gossp said: One of the shows did show this once: a very upset seller because his no reserve car brought way under his expectations… for drama sake they even had a bidder upset at the auction company ignoring his bid on the same car. I want to say it was even at BJ. It was BJ. It was a Sox & Martin Hemi Cuda that was allegedly short hammered. BJ settled with the settlement being undisclosed. 1 Link to comment Share on other sites More sharing options...
greenie Posted January 31, 2022 Share Posted January 31, 2022 14 minutes ago, alsancle said: Dean Kruse: “you can’t pay too much, you can only buy too soon!” DK: The greatest in the World! I miss that entertainment at Hershey; just before walking back to our vendor spaces and sleeping in an uncomfortable truck. Link to comment Share on other sites More sharing options...
Jubilee Posted January 31, 2022 Share Posted January 31, 2022 40 minutes ago, Paul Dobbin said: I had a dealer friend who always said: "I got out bid by the Coke Machine in the back of the room" I remember when I was 6-8 years old at livestock auctions with my Dad and him talking about the bidding from the “ rafters”. I would look up there, searching for someone up there, wondering how they got up there, and why I couldn’t see them. I don’t remember when I figured it out. 1 Link to comment Share on other sites More sharing options...
Matt Harwood Posted January 31, 2022 Share Posted January 31, 2022 (edited) There were a whole lot of people paying way too much for cars. I was absolutely flabbergasted by some of the results. Virtually any custom/resto-mod can be built for $250-300. If you paid $600,000 for a custom C2 Corvette resto-mod, you over-paid by at least a factor of 2. There's just no explaining it unless you're so impatient that you can't wait two years for the build. There was a terrifying amount of money being casually thrown around that I find completely inexplicable. A million bucks for a Hummer H1? $380,000 for a 1969 Camaro Z/28? WTF? I was especially dismayed to see a certain green column shift/automatic/bench seat LS6 Chevelle that I [finally] sold a few months ago for just barely 6-figures sell easily at B-J for $300,000, a record for any LS6 Chevelle hardtop. Where was that fool when I was trying to sell it for nearly a year at $129,900?!? Again, WTF? The car didn't get $200,000 more valuable in two months. Note that chandelier bidding is illegal in a no reserve auction, so I don't really believe that was happening at B-J. But I am at a complete loss to explain how so many people had so much money that they were just over-paying for EVERYTHING without a second thought. I was about to close up our business and call it done because I can't compete with those kinds of results. It was completely batshiat bonkers. Edited January 31, 2022 by Matt Harwood (see edit history) 10 Link to comment Share on other sites More sharing options...
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