After seeing this auction I'd have to send my car there instead of Barrett Jackson and sleep easy.
Just make sure you get a good time, stuff sold well from early afternoon till about 7p.m.! I would go back if that was the case and mine actually ran within an hour of what they promisined. With all the attention my car had I thought it would do 85-90k.
The problem with auctions is that you need at LEAST TWO bidders and 3 or 4 is even better... an auction with ONE bidder isn't an auction.
Doesn't matter if it's eBay or BJ.
The pros in the biz arrange some "phantom" bids with their buddies... to help things along. Good auctioneers - at a busy venue - can also 'help' the bid along but they're not risking that at a slow venue or for a single/newbie seller...
The problem with auctions is that you need at LEAST TWO bidders and 3 or 4 is even better... an auction with ONE bidder isn't an auction.
Doesn't matter if it's eBay or BJ.
The pros in the biz arrange some "phantom" bids with their buddies... to help things along. Good auctioneers - at a busy venue - can also 'help' the bid along but they're not risking that at a slow venue or for a single/newbie seller...
But I don't think the auction house can Phantom bid after the reserve is met? Correct?
There would be no reason to do that... IF the reserve is met -- or is even close enough to get the seller to release the reserve.
Some people think that having phantom bids is akin to cheating. I don't think that way. Here's why.
If you only have one bidder - he's not going to buy the car because regardless of what he is WILLING to pay - he can't get there without someone to bid against (you can't raise your own bid).. thereby not hitting the reserve. So a friend in the pit - bumping along (to a point) is good - and the buyer CHOOSES to bid higher or not. Some say - "well he might have bought the car cheaper" - NO that isn't true - because if it doesn't break reserve - it isn't selling. I would NEVER advocate "running up" the bid... that's wrong. Once it's near the reserve or at it - no more bumping.
Except, if I was the only bidder and it didn't hit reserve I'd wheel and deal down the road with the seller. I'm sure there is a clause in the Mecum contract but the Wife could buy it.
Brian Hobaugh SCCA National Tour June 2014
First Hemi 'Cuda Convertible Ever Built
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