so spend 1000s to sell a 5000 car, yes that makes sense
Sold on Friday, so he didn't spend $1000.
"What sets them apart from most other auction companies is that they are open to all cars of any value and condition. “A $5,000 car and a $5 million car will sell at the same auction,” John says. “That’s really what makes Mecum so special.” - Taken from the web, along with the next two statements.
T"first day entry fee for selling a car is between $350 and $500, depending on the auction. Mecum characterizes a day-one car as one with a estimated value of less than $10,000."
"The second day entry fee is $1,000. A car that is put into the medium-value category would be something along the lines of a nicely restored RS 1970 Camaro, think along the lines of a stock engine and a three-speed manual transmission."
So he may have spent $500, and he got $3000 for the car. He went home with $2700 in hand (-10% fee?). Or he could have dealt with all of us knocking his car and trying to get it for $1500.
I'll start hanging out at Concourse events if I only want to see primo top of the line restored cars, but I like me some regular cars, that regular Joe's can afford. I guess that's why I don't watch the auctions in general, prices we see when the lights are on aren't always the trend or reflection of the market.
