Velocity at Barrett Jackson

[billetman]

Originally Posted by GregWeld

I really still just don't get this whole discussion. And I'm not trying to be a butthead here, that's just not my style... BUT (big butt)... top notch quality builds have always brought a premium return on resale.

What some of you just don't understand about the auction process is... it's about what time a car is running over the block... it depends on whether or not there is more than one bidder because regardless of what someone is willing to pay - they can't run themselves up. It takes TWO bidders MINIMUM and both bidders not only have to want the item - they have to be ABLE to bid what it takes to buy that item. END OF STORY. People can go on and on about what something SHOULD HAVE sold for - or what something was overpaid for... but none of that changes the facts. Great cars have good auction spots - they get talked about by everyone that is there to bid - they are inspected and looked at way before bidding begins - and in the end... if the car is something of value it will be bid on.

Now -- there was a particular Z16 car that was repeatedly billed as the "real deal"... but the real money in the room had already discussed this car ad infinitum and it was determined (right or wrong) that it was not "the real deal" -- and the bids reflected it. So people that don't know jack -- were all aghast that this car wasn't bid to the moon... but the fact is - if you were there - and you know who's who - you knew about this car and you weren't interested. I'm not saying I'm a who's who - but I knew enough and heard enough to know the scoop. Watching it on TV -- ain't going to get that info!

Now -- just like last year - and the year before... RICH PEOPLE are looking for bargains. They will take advantage of having the buying power while others suck wind. I was willing to buy - AS LONG AS I WAS GOING TO STEAL IT. Cars are like busses - there's another one coming along in 15 minutes. A big block 'vette is hardly something to get all slathered about. There's LOTS AND LOTS OF 'EM despite the bozos on the block telling you how rare something is.

That AMBR car -- that car cost way more to build than what it brought at auction and if a couple guys in the crowd know that - and liked the car - then it got the big bucks. Frankly - it's not big bucks... not compared to building one to replace it. My '32 will be really ordinary - and I will easily spend half what that car bid for... so really -- that car went for what it was worth.

So I guess what I'm trying to say is -- the prices paid are what they were worth at the time - and if some seem high - then it's because two deep pockets wanted it and were willing to bid it up and try to win the deal. Nothing special about it. Rich people - and I'm talking about people that can bid 200K and 300K for cars at an auction are used to getting what they want and if they pay a little too much for something - big deal. It's chump change. The weak hands - they drop out way before the item gets to overpriced because they actually care what they pay for stuff.

Cars that are ordinary - or that don't have a good backstory - or really aren't what they seem... they don't get bid up. If the car is a weird color - or poorly done - or doesn't have the right motor - or someone knows something about it... or is being run at a horrible time slot... or just doesn't have "mass appeal" - they aren't going for much because there's lots of competition at an auction like this for eyeballs and wallets.

Hope this makes sense?

Okay, What you have said makes good sense and knowing that alot of this bidding on high dollar cars is done by rich people the 315k final bid is still high for this type of car(unless it was a car built by Foose or Boyd). This may have even been a world record of sorts or close to it. So what I'm asking is did you look at the car and if so what was so special about it? Obviously it looked like a very well built car and as stated before it took a whole lot more to build. Or was this another classic case of one upmanship between two rich bidders?

[GregWeld]

Originally Posted by Vegas69

Did I hurt your feelings Greg? I thought you said you didn't have time to bid in another thread. Forgive me, I'll give you a hug at RTTC.

No - I have no feelings for you.


Oh wait....


Okay -- for $50 I'll have you DNQ'd at TECH INSPECTION... the hugs are from Kelli only. You lost your man whatever in that other "OMG you're the one and only" thread.

[GregWeld]

Originally Posted by billetman

Okay, What you have said makes good sense and knowing that alot of this bidding on high dollar cars is done by rich people the 315k final bid is still high for this type of car(unless it was a car built by Foose or Boyd). This may have even been a world record of sorts or close to it. So what I'm asking is did you look at the car and if so what was so special about it? Obviously it looked like a very well built car and as stated before it took a whole lot more to build. Or was this another classic case of one upmanship between two rich bidders?

Well..... yes and no.



That car was spectacular. DETAILS DETAILS DETAILS. Super perfect quality.


Having said that.... it's always a pee contest between two guys with big wallets that want something. But that is EXACTLY what makes the auction so dang much fun!!

[GregWeld]

Originally Posted by ccracin

He's just trying to one up Doug and Carl with publicity!

I am so jealousy driven....

[GregWeld]

Originally Posted by fesler

I hope you did not get offended by my quote about the show because in now way was that meant.

No Chris you did not offend me - nor did the ribbing from Todd or anyone else.

I have a very little wee wee.... I know it... I don't care.

BTW -- To all reading this thread. My insights are of the auction not about myself or what I do or don't know. I was just trying to share the facts with some that have never been to a goat rodeo like this.

Let me say this --- the auctioneers are there to SELL STUFF.... it is caveat emptor for the buyer. They do the best they know how... but they are just auctioneers. They can't know every detail about every car going across the block! That is for the BIDDER to know.

Back to the original reason I posted up my thoughts in the first place -- was to shed some light on why some cars go high - and some lower than "expected" and some right on the money. It's an auction... there's lots of inventory to choose from. Take Corvettes as just one marquee... you might have your eye on 3 different ones... and maybe you buy car #2 for great deal.... most guys are done then and aren't going to bid on #3 when it rolls. So as the auction goes along... guys have done their thing - or been priced out - or got cold feet - or got drunk and missed the whole thing! (seen that happen more than once!). It's a goat rodeo. And it just is what it is. Come and have a blast - it's a fantastic car show... it's a circus... it's a social scene... and it's a "must do" for any car guy. Period.

DO NOT expect to be up on stage - or in the big baller VIP Platinum chairs up front. It costs MILLIONS to get in that area.... You have to be a BJ high roller and that means you had to have bought and or sold MILLIONS of dollars worth of cars from BJ auctions. If you notice - Ron Pratt is not only first row of seats - he's smack dab in the center.... Ricky Hendricks et al are right there with him. So don't be disappointed when you pay $500 for your bidder pass and you can't get anywhere near where you thought you were going to sit. <I'm seriously laughing out loud to myself right now 'cause I watch all these guys trying to get "in there" and they're so pissed off>. Just come for the fantastic show that it all is and enjoy hooking up with your buddies and having some fun.

I had more fun poking Charley and his new pro touring 3 wheeler than I did in the bid pit... and that's what all of this should be all about.


ALSO -- BRETT -- SO SORRY TO JACK YOUR THREAD MAN!! I WAS REALLY HAPPY THAT VELOCITY BROUGHT "DECENT MONEY".