Congrats, hope your happy with the outcome.
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Fix Motor Mount
Roll Cage Braces
Throttle Body 65mm
Wheel Alignment
Heat Riser Replacement
Vent Window Repair
Center Console Mount
Straighten Bumper
Ford 6R80 6 spd
More Tech...
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Going to Mecum! (Again! . . . and Again!! . . . )
- Thread starter Scoop
- Start date
- Joined
- Mar 8, 2007
- Messages
- 81,747
Congrats Sir....
Hey Congrats Scoop!!! Now you can buy a few more!!!;D;D;D
..So can we ask what your reserve was set at..
.. Congrats pocket full of money for a nice Bronco.
.. Congrats pocket full of money for a nice Bronco.
OP
OP
Sure, I put the reserve at $40K - intentionally high.
OP
OP
And the results of the hammer price guess is . . . at $32,150 wpaeb! But West Tn Dawg had $32,250 as a very early guess and it looks like wpaeb pulled a "Price is Right" move and undercut Dawg! So both of you please PM your mailing addresses to me and I'll send you both a calendar!
In summary it was a fun experience and I learned a lot about auctions. I want to thank everyone who gave an auction noobie some advice. It helped a lot. When I went into this a couple of months ago my goal was to get around $30K for it. I will say that all the high guesses here got me pumped for $40K! But $30K was my original and more realistic expectation. (I do know now who to go to for my future insurance appraisals! LOL) So I'm happy with what I got. Putting the reserve very high gives you more control of the auction - that was the first bit of advice I got.
As far as my Mecum experience, they get you coming and going. It's a very efficient money-making operation. That said, I don't think I could have done any better on Craig's List or even eBay.
I guess one disappointment is that the buyer turned out to be one of Mecum's bigger participants out of New York and not an individual Bronco enthusiast. My guess is we may see this Bronco being flipped at an upcoming Mecum.
In summary it was a fun experience and I learned a lot about auctions. I want to thank everyone who gave an auction noobie some advice. It helped a lot. When I went into this a couple of months ago my goal was to get around $30K for it. I will say that all the high guesses here got me pumped for $40K! But $30K was my original and more realistic expectation. (I do know now who to go to for my future insurance appraisals! LOL) So I'm happy with what I got. Putting the reserve very high gives you more control of the auction - that was the first bit of advice I got.
As far as my Mecum experience, they get you coming and going. It's a very efficient money-making operation. That said, I don't think I could have done any better on Craig's List or even eBay.
I guess one disappointment is that the buyer turned out to be one of Mecum's bigger participants out of New York and not an individual Bronco enthusiast. My guess is we may see this Bronco being flipped at an upcoming Mecum.
OP
OP
No doubt Mecum makes money! Both buyer and seller pay 10% plus seller pays the registration fee based on day/time slot ($500 to $1000) plus all buyers pay a $100 registration fee just to sit on the floor and bid. Spectators pay $30 per day for the "show". Seller does get one free guest pass for the whole 3 days! But one surprise is the number of vehicles that don't sell. They emailed me a list of everything still for sale and it was a very long list for both Thursday and Friday.
OP
OP
Another way to look at this is that the buyer PAID $35,200 for it. So that's probably the real "what is it worth?" number.
OP
OP
Just the original time slot fee. So at a minimum you're out $500 if it does not sell. I had a $750 time slot.
Oh yeah, if you're a no show they get 20% OF YOUR RESERVE PRICE!!!
The seller fee (% of hammer price) is lower if you sell at no reserve.
Thanks for sharing all the details and being so honest, I think this is very helpful.
I hear a lot, "I am taking it to auction to get the real money out of it". At 32,150 minus the 10%, $750 slot fee, transportation to the event, etc makes the take home a different story. Sometimes local sales, the forum and ebay aren't so bad after all.
I hear a lot, "I am taking it to auction to get the real money out of it". At 32,150 minus the 10%, $750 slot fee, transportation to the event, etc makes the take home a different story. Sometimes local sales, the forum and ebay aren't so bad after all.
