BJ Vegas...anybody watching?
 

Noticed this is the weekend for BarretJackson Vegas. Anybody tuned in? Always interesting to watch these to see how the general economic climate is effecting the prices.

Also, is that BJ dude just so cool that he has to wear those dark shades indoors or what :cool: . Like the movie said "when you're cool the sun shines on you 24hrs a day."

John

Not watching BJ... it's too painful. The 'decent' cars don't get noticed - there's too many DEALERS selling cars.... and the nice ones get bid to the moon... Auctions are great places to SELL not great places to buy... IMHO.

Will be very interesting to see the prices though... and my guess is they're beyond LOW.

The guy wearing the shades - is the President... and he has an eye problem. Something to do with the bright lights. He's legit.

Im waiting, Im watching it online now.

I am also watching on line. The sunglasses are needed when you are that cool.

I am always amazed at how low some cars go and how high others go. Sometimes it seems backwards. I have seen some really nice cars go for peanuts.

Two types of people wear sunglasses indoors, blind people and assh***s. BJ sure doesn't look blind to me. IMHO he ruined the collector car market. If you own one that's great if you have to buy one it's too late.

Notice they work the crap out of some cars? Must belong to someone whose ass they are kissing...

The pace just picked up a ton in the last car or two.

Love the last sunglasses comment. BTW

Got my fingers crossed for John. I just hope the car sees the light of day again and is not put away in some garage never to be seen again.

It so obvious who's A**'s they are kissing.

That's a bad arse PT Nova :D . Gonna be interesting to see where it goes.

that belongs to John Parsons, a member here and on Pro Touring. I am watching also.

Jody

175,000 Wow

I guess what I was trying to say earlier - but didn't quite get it out right -- is that watching BJ "these days" --- is a little like watching a train wreck... some guys hit home runs --- and some sellers are really sucking wind...

I agree with the earlier statement - that BJ has single-handily wrecked havoc with the collector car market... When I see an Ad on eBay with some dip stating "if it doesn't sell here - I'm going to take it to BJ.. where it will sell for $200,000". Personally --- I just want to reach out and slap the crap out of that guy.

I have a couple of buddies that usually take 30 + cars down to Scottsdale... Some of the cars are really nice -- and some are aerosol overhauls.... That and you don't get to drive 'em etc before buying... all you can do is LOOK. When I'm paying 100K for a car -- I'm driving before buying!

EEEEEEEEHHHHHHHHAAAAAAAAAAAAAA

X2 ^^^ 175k. Nice!:yes:

Actual cost to the buyer --- $192,500

Exactly. Then there is the sellers fee too. So they don't get the full 175k sale price right? Do you know that percentage Greg?

Fees are typically 9% -- they used to be 8%... and then there's the "number" -- you pay extra for a car running the block at "prime time" etc.... The big regular sellers -- like my buddy Mark Young (The Chev Connection) -- and David Bingham (Park Place LTD) get the first picks of the good numbers... newbs and nobodies get Sunday AM and Thursdays... when there's nobody around... :>)

BJ website quotes 8% seller fee PLUS your entry fee... and that depends on time -- and day -- and whether you want to go no reserve....

Thought with B-J there was no option of a reserve. That way they can advertise 100% sale.

BTW -- A lot of people don't "like" Steve Davis -- but they've never met him - and don't understand the history this guy has in the car biz... He knows his shizzel... and is an advisor etc to Carroll Shelby... He was in the biz a LONG time before ever working for Craig Jackson (BJ). People think he's a butt for wearing the glasses but he does it because he's light sensitive.

I only have one hater comment to make about BJ and it is childish, but I'm going to do it anyways. I can't freaking stand it when Craig? Jackson and the rest of those bozos encourage the frenzied audience to bid higher--then he's clapping so joyously when the car that wasn't worth 220k sells for that price. It just bugs the hell out of me--maybe it's because he is preying on these ridiculous people willing to pay that kind of $$ for a car and he gains from it. I know, I have issues---maybe it's just straight out jealousy---but it just seems so hypocritical --even though I know there's no one holding a gun to anybody’s head making the bids. Rant over.

Yes -- They went to all no reserve when prices went through the roof... and they have more guys wanting into their auctions than they can take.

But a typical auction has both reserve and no reserve - no reserve fees are LESS than reserve fees. I was trying to talk in GENERAL terms here - every auction is different. Plus - if you're a big seller - stuff is negotiable as well...

What you aren't aware of - and I'm not going to write a book on car auctions - is that these guys are DEALERS... and most of the inventory they're selling is from dealers... and these dealers aren't going to take a big loss on a no reserve sale.. they have friends in the audience that can whack a bid... and if a car isn't selling for what it should - they can end up buying their own car back... Don't get me started here - just trust me that I know what I'm talking about. You're naive (not you personally but anyone that doesn't understand how this stuff works) if you think the sellers are losing their ass on a car. Now that's not saying they won't. They may have just hit a home run on a previous car... and the bids are "close" and they'll cut it loose... but if there's a serious "difference" between what the car is "worth" and the bid... the gavel will drop... but you won't really know who bought the car.

DFRESH ---

You got it buddy... But remember (and you kind of said it) it takes at LEAST TWO to make an auction price go UP... So at some point - and this auction is the worst for it - EGO plays a big part of it.

They shove that camera in your face - and you're bidding - and it becomes a bigger D**k issue. Lots of these guys have (HAD?) more money than sense.

There are legitimate good buys, and some really, really nice cars to be had... but you'd better have your wits about you.. and check your ego at the door. Remember --- in the car biz --- the GAIN is made in the BUY... not in the sell. You've got to BUY the car right...

When I look at a car - my first thought is what would it cost me to build it EXACTLY the way the one I'm looking at. Add any changes you'd make -- and you know there will be some... and then see if the price is a bargain - or ridiculous... it's many times.. the latter. :>) But if it costs $500K to build a real custom - and the work is spectacular - and the build takes 3 years... and you love the car... then maybe $475K seems high - but isn't.

My personal problem with cars like that -- is that "everyone" has seen it -- it 's been on the show circuit -- so been there done that -- and in 4 years will be "out of date" either with the engine choice - or color - or style.... so now who's going to pay you what you paid for it. Better just take it out and drive the livin' snot out of it - and get your moneys worth!!

Like --- what would you pay right now for a Blown Bucket T?? And once all the mid to late 60 year old guys start to sell their '32 Fords with the 350 SBC and TH350 in them - and burlap upholstery -- what are they going to be worth...

:woot:

I just finished watching the new series Chasing Classic Cars. While watching it they took a SC Cobra to Mecum and I heard them say that the auctioneer and Mecum have the right to run the bid up just shy of hitting the reserve. That to me is B.S. I always wondered if there were in fact people bidding now I guess this guy answered my question.

You got it buddy...

You go to an auction some time... the bidding starts and the auctioneer is babbling away - and the price is climbing... and NOBODY really knows who's bidding... and suddenly the price has gone from 25K to 50...

But here's the DEAL ---- IF somebody is willing to bid 55K... then what's the harm... and then somebody whacks it at 57,500.... and so on.... so really = there's no harm. But - big but - had these phantom bids not popped in there - you might have bought the car at 24,500 -- but then again - the crowd is there - and most of 'em know a bargain when they see one -- so if you think you're going to get a car at half price -- think again... 'cause there's other guys standing around that know the biz -- and they can bid too...

Only way to do this --- check the cars out --- have your list --- stick to it --- set YOUR price --- stick to it. Cars are like buses - there's another one coming by every 15 minutes...

:>)

Too late? There are cars advertised all over with fair prices. As a matter of fact, prices have gone down some recently.

Without the dealers in attendance at most of these auctions they would be pretty uneventful...I have worked 20+ years in the auction business. I have been debating this for years with all of those who are drinking the B-J kool aid. I have always contended that sure, you can advertise 100% sale rate but are 100% of those cars really changing owners? I doubt it. I'd bet my left nut on it.

It is the general public guy who gets his ass handed to him because he doesn't know how things work and if his car doesn't bring what he wants, he will take a beating. He probably doesn't even know he can buy his own car back-although that alternative isn't much better since he will pay both the buyer and seller's fee (no discount). So he will be in the car 16% deeper than he was before plus whatever he paid for the number plus transport there and back.

While all of the jacking may seem unethical to you (and technically it is). None of it matters unless the seller is willing to sell the car for the bid figure. Bidders are not forced to bid, so if they do, it means they are willing to pay the amount of the bid being called. You can have all the active bidding you want and if the price is short of the seller's reserve, the car won't sell anyway. It is just another way to get there.

The auction you mentioned will also buy cars if they seem cheap or sometimes just to try to stimulate some action. Sometimes you'll see the same cars popping up at more than one of their auctions. Sometimes they make money sometimes they lose, but they can create some action by selling one of their cars short if there is a lull.

Who do you think owned the $7 million Shelby Daytona Coupe that ran at Indianapolis and finally sold at Moneterey?

Jeff ---

Thanks for adding to what I said.... it's amazing how many people think these auctions are "good deals"... :lol:

They're good deals for the sellers...

I was just watching on line and they were asking the people up in the side stands to come down to floor level. The ushers were going to let them through. I guess attendance is not what it should be maybe? This auction just didn't have the excitement that the Scottsdale one does. Or the money.

Scottsdale might be just about as bad...

Think about it -- it took me 10 months in advance to get a room at SEMA in '07... and about 5 minutes this year...

ERIC.... Since I saw you at Monroe, I ran into a guy that knows the numbers - and attendance was DOWN 50% from 2 years ago there (Monroe SM).

They had to work HARD to get the 289 Cobra up to 400K -- my guess was an opening bid of 450K and thought it might go to 600K... Noticed two of my buddies (one is my next door neighbor) on the stage... and both own REAL cobras.. and neither were bidding.... just watching.

I did notice the event today was a little light on people. But 50% is HUGE. I have not been there in about 4 years.
I thought that Cobra should have brought better money too. I was just talking to someone about how hard they were working to get the price up. That was not the only car they had to work the crowd for either.

It was good to see you today. One of these days we will have to actually plan on running into each other and hang around a while together.:thumbsup:

A lot about BJ and Steve and Craig pisses me off, but a lot about it also makes me wanna roll the dice and take my Camaro there one day and see what happens. I see these crazy simple 1st gen "pro touring" Camaros bringing strong numbers left and right, most of them 69s but still.... do these buyers know that many of these cars can be built for what they are sometimes paying or even less? :_paranoid

Greg is right. 95% of what you see on the Speed Channel coverage of BJ is a facade, not reality.

I have come to the conclusion that many people can't tell the difference between a good car and a mediocre one.

I am normally very good at guessing prices and values of these cars even with the market being crazy but this auction has been nuts.

I was blown away that the carrol shelby super snake brought as much as it did. If I remember right the old shelby from his personal collection a year/years back brought about the same amount. Emptynest at 85K? I wouldn't have guessed this in a million years. I was thinking 115K at min. which still would have been a killer buy.

It only takes two people to make and auction.

For some reason Friday seemed like a better/busier day.. maybe because there was no Sunday aspect.