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Otis Chandler Auction Results


FireballV8
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We may not know for quite awhile as a large percentage of the winning bids were done by phone. Bob, speaking of history, you really will love the exhibit that is being put together for the museum on the brass era. 1898 Riker, Thomas Flyer, American Undersling, Olds Limited, Olds Pirate race car, National race car, Argo electric, Stanley, Great Pierce, Morra, etc. Not to mention the Mercer!

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We have all heard people say that interest in brass era and classic era cars is fading and that there is no new interest in these automobiles and the prices are dropping. The prices realized at the Chandler auction clearly prove that point!!!! (Big Grin!!) Wait until there is another auction of similiar vehicles and these prices are going to seem cheap. I know what was paid for some of the vehicles when Chandler bought them (over the last 12 years, some as recently as a few years ago) and many of these vehicles sold for more than double of what he paid (which at the time was considered outrageous). As Sir Henry Royce said "Quality lingers after price is forgotten!" Yes, whoever bought cars at this sale clearly bought the best and spent their money wisely.

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<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">They were the best of the best, whoever won one got a great piece of automotive history. </div></div>

In fact not all of the cars were the best of the best, some were older restorations or restorations that were not perfect; some were fabulous, but not all of them. Sometimes an average car owned by wealthy man with a big collection will win a prize at a concours - they want him to come back next year and bring his checkbook. The 33 Packard victoria is a nice car, but an odd color for a 33 Packard, and got a 3rd at Pebble, but still brought 1.65 million. There were also cars that were very over restored by today's standards - and looked like they were dipped in clear plastic. So it is all the more amazing that they brought the money that they did.

Part of the credit here goes to David Gooding and his team for putting together this auction, David set the standard for auction catalogs years ago and continues to raise the bar, he knows how to treat people and make them feel welcome - customer service is paramount to him, unlike other auction houses, and he gets the bidders to the auction - some 1200+ in this case. He made this auction into the "must attend" hobby event of the year, with special receptions and private and public viewings, and international press releases. First class restorer Bob Mosier and his team worked with David and prepped these cars and took care of bidders too. There was almost a frenzy about this auction before hand, and yes, these cars brought more than you would generally think they were worth.

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<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">That's the car on display! It is already on the turntable... </div></div>

Is it the one from Sandwitch, Mass? Ken Purdy's old Mercer? <img src="http://forums.aaca.org/images/graemlins/confused.gif" alt="" /> </div></div>

No. This car belonged to Fred Hoch, South Jersey.

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"...he knows how to treat people and make them feel welcome - customer service is paramount to him..."

Like the stereotypical used-car salesman who showers flattery and flowers on a prospect while stuffing banana peels in the punkin: no disrespect intended to anyone, but someone who actually pays a guy to jack every last nickel out of his pockets, i.e. pays a "buyer's premium" to someone who also charges the seller a commission + a "registration fee", had BETTER get the "full treatment" from the spats-and-pinstripes gang. <img src="http://forums.aaca.org/images/graemlins/smirk.gif" alt="" />

No doubt my trade ethics have failed to keep up with the times, but that's what I hold to be self-evident and I ain't changin' my mind, or what remains of it.

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Agreed. Companies should be ashamed to charge a buyer's premium. I for one won't patronize services who employ these tactics. Pay for the privilage to pay???

That includes auctions, membership stores, retail clubs........

In second thought... maybe that's how I'll market the next car.

Only $20,000 with membership fee of 30%....?

To keep this comment topical though - the vehicles up for auction were certainly interesting and dispite the above seemed to do well from a price point.

dongle

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It only takes a couple of lemmings to stem the flow over the cliff.

Don't patronise these businesses - or if bidding at an auction reduce your bid by the premium amount. Don't get wound up in the hype. If people would only go to these auctions with their thinking caps on and be using them when the gavel comes down.

These types of auctions only serve to line the pockets of the Auctioneer. I would argue (and could very well be proved wrong) that actual sale prices would be higher at 'non-premium auctions'. It would be an interesting Economic Thesis....guns vs. butter. Higher sale prices equals Greater Commission vs. Lower Sales Prices plus Buyer Premium.

Anyone else want my rose colored glasses?

Note:

Yes, I know lemming don't actually commit mass suicide - you can blaim Disney for perpetuating (if not creating) that urban legend.

dongle

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I hear what all you guys are saying BUT...auctions are not a philantropic venture. Some of them are profitable and some have lost money. Unless you know the overhead to rent facilities, pay personnel, insurance, security, advertise, etc. it is hard to understand the business. However you and I have the perfect way of avoiding charges we do not agree with and that is by not attending or bidding. Pretty simple. These auctions seem to be doing well and that has to be a product of buyers and sellers accepting "the cost of doing business". Most people I know are very aware of the fees when they bid and do bid accordingly. It is just the crazy economy we are in now when some cars are selling for 4 times what they did 5 years ago and memorabilia is through the roof!

Just my thought for the day.... <img src="http://forums.aaca.org/images/graemlins/grin.gif" alt="" />

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No one here is saying that auctioneers should philanthropically donate their time. They are as entitled as I to be compensated for their services. But this "buyer's premium" nonsense is like me restoring your neighbor's car and then handing you the bill for it. The service is provided to the seller, who alone should pay for the service rendered. I agree with you that those who share our disgust at the whole scam shouldn't encourage them with our attendance; only go to auctions that advertise "NO buyer's premium!" which several houses around here do. When I read the weekly events and see the words "buyer's premium" I turn the page without a glance at the listing. It's the only way to be heard on the issue.

Those who pay "buyer's premiums"...deserve to.

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