BJ Vegas...anybody watching? - Page 2 - Lateral-g Forums

**GregWeld** · #11 10-09-2009, 08:02 PM

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

70rs · #12 10-09-2009, 08:03 PM

Quote:

Originally Posted by camaro2nv

175,000 Wow

X2 ^^^ 175k. Nice!

**GregWeld** · #13 10-09-2009, 08:07 PM

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

70rs · #14 10-09-2009, 08:11 PM

Quote:

Originally Posted by GregWeld

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?

**GregWeld** · #15 10-09-2009, 08:22 PM

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... :>)

**GregWeld** · #16 10-09-2009, 08:25 PM

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....

Van B · #17 10-09-2009, 08:47 PM

Quote:

Originally Posted by GregWeld

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.

**GregWeld** · #18 10-09-2009, 08:55 PM

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.

**DFRESH** · #19 10-09-2009, 09:15 PM

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.

**GregWeld** · #20 10-09-2009, 09:16 PM

Quote:

Originally Posted by Van B

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

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.