Lambrect Chevrolet Auction

[Maui]

Did anyone else watch this auction last weekend? Many of these 60's Chevy's had less than 100 miles on them, but almost all of them had been sitting outside in a field since new. The emotional bidding was ridiculous. I am lover of vintage chevy's, but a car with a tree growing through the roof is just a low mileage piece of junk. I saw only a handful that even looked worth bidding on and they all went for way more than they were worth.


http://www.hagerty.com/Classic-car-...=&utm_campaign=Hagerty Weekly News 10-02-2013

 

[2phast]

You pretty much summed up auctions in general, I stay away from them. Its rare that you can ever get a good deal, people get too wrapped up in the "How dare you outbid me" fever.

 

[Maui]

I've see some pretty good deals at Mecum, but those are typically on the first day of the auction before the BIG money shows up.

 

[2phast]

An article caught my attention a while ago. According from what I've read, going to car auctions can sometimes net drug dealer vehicles. These that have been seized by law enforcement can be excellent and inexpensive. Nevertheless, what is often not considered is whether such automobiles should be at auction to start with, considering the Eighth Amendment. Find out even more here.

Join the crowd of thousands that show up at a auction like that (looking for a deal) and see just how cheap those vehicles sell for.

 

[savmjv]

Agreed, Maui.

At Mecum Houston, I look for cars I want that are on the block on Thursday before 1-2. After that, the booze is flowing in the "Gold Bidder" section and the money shows up. Also, early on Friday morning (maybe the Thursday afternoon money is sleeping off the hangover from celebrating the previous days bonanza-buy?) there can be some decent deals. I believe I bought the Shatner car at about 10:30 Friday morning last year and was only bidding against one other person past $10,000. The seller got hosed on that time slot. Types of car interest varies by location as well. Mercedes, Porsche (non-specialty/vintage), Ferrari can all be decent buys in Houston, seems to be even more so in the Midwest. The American muscle pretty much rule and draw the money at these. As an example of auction timing, there was a solid, recent restoration '71-ish Landcruiser that went off early on Thursday or Friday last week for $20,000. I couldn't believe the seller let it go "no reserve", but she was selling several cars last weekend and all were either NR or she lifted the reserve when bidding stalled out. Clearly, she wasn't taking anything home with her, maybe a back story there. There were several more Landcruisers that were comparable that went for $35,000-ish. In hindsight (always 20/20), I should have bought that cruiser and then registered it and sent it back through on Sunday. Mecum seems well aware of the timing factor and stages cars accordingly. It's a pretty well oiled system. I have a friend that buys and sells at Mecum and knows Dana Mecum. His cars would NEVER go on Thursday or before 2:00 on Friday. Most seem to go mid-day on Saturday.