Save Your Allowance

[Stuart Adams]

I think they are adding more air time because of his 120 or so cars. He has some cool stuff obviously.

[Ketzer]

Originally Posted by Stuart Adams

I think they are adding more air time because of his 120 or so cars. He has some cool stuff obviously.

I'm surprised the number is only 120 or so.... love to see a list with pics of his cars.

[RDuke]

Logical move, time for him to sell at the top or near top of the market.

[GregWeld]

Originally Posted by RDuke

Logical move, time for him to sell at the top or near top of the market.

Really? He bought at the top.... When you're the buyer at the BJ (or any other) auction --- that means you paid the very top price for that car at that time... otherwise you wouldn't be the buyer. Nobody else in the room - or on the phone - was willing to pay more.

He hasn't bought much (and I'm usually there sitting about 5 chairs away from him) during the recession. He bought a TON of cars in the 3 and 4 years when cars where at their absolute peak and he paid peak prices.

Now -- Like real estate -- you also have a buyers premium paid -- now you have to add entry fees and selling fees to recoup.

[GregWeld]

Originally Posted by GregWeld

Really? He bought at the top.... When you're the buyer at the BJ (or any other) auction --- that means you paid the very top price for that car at that time... otherwise you wouldn't be the buyer. Nobody else in the room - or on the phone - was willing to pay more.

He hasn't bought much (and I'm usually there sitting about 5 chairs away from him) during the recession. He bought a TON of cars in the 3 and 4 years when cars where at their absolute peak and he paid peak prices.

Now -- Like real estate -- you also have a buyers premium paid -- now you have to add entry fees and selling fees to recoup.

Personally -- I think it's a mistake to try to sell so many of the best of the best cars at one time.... There are only so many people in the car world that can even get close to the cars he owns. And if a guy just steps up to buy one -- that may be a guys "budget". When you're buying cars that sell for 3 and 4 and 5 million bucks each... even rich guys begin to get stretched.

[bret]

I am conflicted about what this might mean for the rest of the market, both this year and going forward. Will the excitement of so many high end cars create a price bubble this year? Will that bubble burst after that?
Or will it scare away other good cars this year because they think all the money will be spent on Pratts cars?
I've got a Boss 429 that is in nice "driver" condition...do I take it there in January in hopes of piggybacking the celebrity of hte Pratt collection...do I hold off thinking I would get lost in the crowd...will the market survive "post Pratt".
Personally it doesnt matter much to me. I didn't buy the B9 as an investment...I bought it because I had always wanted one. I'm selling it because I now want something else more.

But I am truly curious as to the overall effect his collection sale might have. I will be there to witness!

Greg, I tend to agree with you that it seems a mistake to flood the market with all these cars at one time. I do not know Ron Pratt personally, nor his reasons for selling, but I have to suspect that in the overall scheme of his life these cars have now taken a much lower priority. It's not a fire sale, it's not a statement...it's just another chapter.

[hifi875]

I agree, it seems like he would be better off to do a few here and there and that would help all of the b-j auctions. There wasnt much of a crowd there this weekend from what i saw(just my opinion). Just dont see how b-j can sustain what they are doing.

[Flash68]

Originally Posted by bret

I've got a Boss 429 that is in nice "driver" condition...do I take it there in January in hopes of piggybacking the celebrity of hte Pratt collection...do I hold off thinking I would get lost in the crowd...

If it were my car I would certainly wait for the next one, Bret. The Pratte liquidation sale, on top of the usual cars there, sounds like a buying opportunity (WELL BOUGHT!) to me compared to a typical year.

To counter that, would his liquidation bring out a ton of buyers who aren't already there or in the market for his type/quality of cars? I wouldn't think enough to offset.

And for a guy who just wants to move on to another chapter he doesn't have to spread out the sale of the cars. It's not about the money to him at this point I would think.

It sure is an interesting discussion!

[Blake Foster]

[QUOTE=GregWeld;571803] When you're the buyer at the BJ (or any other) auction --- that means you paid the very top price for that car at that time... otherwise you wouldn't be the buyer. Nobody else in the room - or on the phone - was willing to pay more.

Agree and have always said this. I was at an equipment auction on time and old used welders were going for near NEW price.

As to selling out all at once, I would think spreading them out would make more sense, But what the hell do I know. maybe there is a legitimate reason and maybe he HAS to sell them????

[BMR Sales]

Originally Posted by GregWeld

Really? He bought at the top.... When you're the buyer at the BJ (or any other) auction --- that means you paid the very top price for that car at that time... otherwise you wouldn't be the buyer. Nobody else in the room - or on the phone - was willing to pay more.

He hasn't bought much (and I'm usually there sitting about 5 chairs away from him) during the recession. He bought a TON of cars in the 3 and 4 years when cars where at their absolute peak and he paid peak prices.

Now -- Like real estate -- you also have a buyers premium paid -- now you have to add entry fees and selling fees to recoup.

and many of his "Buys" were B-J Charity Cars that go for Well-Beyond Crazy Prices