Another Mecum Auction in the works

[DirtDonk]

Not sure if anyone has already mentioned it somewhere else, but I didn't see mention of the Broncos for sale again.
Just saw a very clean Dark Gray '72 with the usual upgrades fail to sell for $39k!!

Ya know, I realize that they're hot right now, but to not accept near 40 grand seems a bit odd even still. Just my skewed perspective I guess.

The announcers mentioned 2 or 3 others, but one of them might have been the very sanitary Black '86 yesterday.

Anyway, thought you'd like to hear the latest optimistic seller story.

Paul

 

[Bronco Junkie]

I saw last night that there was a Mecum auction this weekend and I too was trying to remember if someone posted the Broncos going to auction. I don't think anyone did.

DAMN! $39K and could not meet the reserve?? Can I get some of those drugs???

 

[DirtDonk]

Yeah, it keeps going up I guess. The last one had 2 rigs, one at $24 and one at $27 that didn't meet reserve either.
Guess the fever hasn't abated.

Paul

 

[Bronco Junkie]

No, I know it hasn't. I have been looking for a second Bronco for some time now but everything is overpriced here....way overpriced.

 

[andyp]

If it's a true frame off, they probably have way more in it than that. Perhaps over estimating the market potential.

 

[Fireball05]

BJ - lots of nice looking ones not too far from you: http://phoenix.craigslist.org/nph/cto/3760592804.html

Here's my current market synopsis:
It's pretty easy to spend more than $39k fixing up a Bronco.
Pretty darned hard to sell one for more than $39k though!!!

 

[WheelHorse]

Here's my current market synopsis:
It's pretty easy to spend more than $39k fixing up a Bronco.
Pretty darned hard to sell one for more than $39k though!!!

You know, I believe that's the real deal behind most of the restored Broncos the cost to restore them is not cheap by any means...at least not if you want to do it correctly.

I just saw a supposed red survivor Bronco go for 18 on ebay...I'm still trying to decide if it was a real bid or not. The first time it went to 17.6K and did not sell, but it did not look to be any better shape than what I picked up in Colorado.

 

[ilovemaui]

BJ - lots of nice looking ones not too far from you: http://phoenix.craigslist.org/nph/cto/3760592804.html

Here's my current market synopsis:
It's pretty easy to spend more than $39k fixing up a Bronco.
Pretty darned hard to sell one for more than $39k though!!!

The last picture in the Phoenix CL ad is my Bronco, WTF is that doing in his ad?

 

[TTTGOWYO]

There are a few going across at Mecum in INDY today as well. Some really nice looking ones too. I saw one or two goin on Sunday as well.

 

[Mobious]

With the current market for EBs as high as it is I am glad I got mine when I did and for what I paid for it. I agree that it is easy to spend money upgrading and maintaining these rigs, but I take the same approach that the rest of you do: these aren't financial investments, they are investments in enjoyment. IF I were to ever sell my EB (and that is a very big if) I know that I wouldn't get my money back out of it, but I would consider myself more than whole based on the fun I have had with my truck and with the people I have met through it.

 

[TTTGOWYO]

I agree, I don't really get caught up in what they are going for. I am not ever going to sell mine anyway. I am more concerned with what I am spending on mine..

 

[C O D Y]

I've been to Barrett Jackson (reserve over 400K) & Russo Steele and if Mecum is the same they have the right to "bid" the vehicle up to near the reserve hoping one person makes the next bid.

I SAW A LOT OF POP MACHINES BIDDING FROM THE BACK OF THE ROOM! It's fun to stand there at the auction and look around trying to find the bidder! A couple times I saw the owner try to take the reserve off, but the auctioneer just looked him off and kept the reserve on as he didn't have any real bidders. Doesn't happen as much at Barrett as it was happening at Russo and I'm guessing Mecum.

DAMN! $39K and could not meet the reserve?? Can I get some of those drugs???

 

[DirtDonk]

Barrett doesn't really have many vehicles with reserve allowed from what I understand. Only special cases get a reserve. If you brought a Bronco in there, it'd be selling for whatever that market/crowd would bear.
Seen more than a few go for what would have made someone cry. Some real deals go down when the crowd isn't fired up.

The Fast-n-Loud show and others like it don't help either, when they show custom built vehicles make a profit for a business. It's rarely been like that in the real world. Maybe the speculators hope that the EB's will be the next muscle-car craze (and for a short time, it kind of has) where someone buys a Chevelle SS454 convertible for $3200 (which is what they used to go for up to about the early eighties) and sell it for $200k.
Gonna be hard to get the Broncos to that level though. At least for the short term.

The auctions and sales of specialty cars has been this way for ever. How many $100k hot-rod builds or $40k truck builds ever sold for that? Not many I'd guess.
Actually, NONE that I ever saw back in years past.

The poor guys who's hobbies built super-sweet '32 Ford custom rods for $90k and sold for $15k could attest to that.

Paul

 

[DirtDonk]

Never figured that about the owners C O D Y. Just figured there were always at least a couple of people willing to bid high on some strange cases.
Interesting to know.

Paul

 

[DirtDonk]

The last picture in the Phoenix CL ad is my Bronco, WTF is that doing in his ad?

Yeah, that's strange. If it was all of them, I'd say to post it up as a bogus sale, and potentially dangerous to any lookers. But since it's the last image only, maybe he likes your setup so much he wanted to show potential buyers what theirs could look like if they tried real hard.

Very nice rig, by the way! Wonder if you should call him out and make him remove it, or just let it go. Not sure how I'd play it, but since the differences are obvious, I'm guessing it's not too much trouble to get into.

Paul

 

[WheelHorse]

I don't know Paul, I haven't seen a 90K invested '32 Ford go for 15K. Maybe 90K and it still sells for 30-40, but no where near 15. Maybe 15 if it was a real crappy kit to begin with, with a home grown orange peel paint job under a shade tree.

 

[reynard101]

JFB Restorations is selling the gray one and a white one at Mecum. On the JFB Restoration facebook page they said the gray one did sell, maybe not at auction, might be an after the fact deal.

http://jfbrestoration.com/

 

[DirtDonk]

I don't know Paul, I haven't seen a 90K invested '32 Ford go for 15K. Maybe 90K and it still sells for 30-40, but no where near 15. Maybe 15 if it was a real crappy kit to begin with, with a home grown orange peel paint job under a shade tree.

You're probably right, especially for nowadays. But there was a time when a clean hot-rod wasn't selling for very much at all. I might also be exaggerating due to fading memories now too of course, so I'll concede the point no problem.
But even at 30, it's a substantial loss on the investment.

Paul

 

[DirtDonk]

Very clean stock Blue '70 went across a couple of hours ago and also did not sell. This time they bid it up to 31K for the no-sell.

I imagine a lot of haggling goes on behind the scenes after the initial auction. So not surprised one as clean as that gray one sold finally.
Don't suppose they let on how much it finally went for?

Paul

 

[DirtDonk]

JFB Restorations is selling the gray one...

I should have added too, that it's no wonder they wouldn't sell for the as-bid price. If it's a business that's trying to actually make money on a vehicle, they either have to have a built-in buyer already, or hope that there will be someone at an auction wanting to part with decent money to have some fun.

It's not always easy to make a good profit on something like that unless you're lucky in your initial purchase, build it for a customer and charge as needed, or have a TV show where someone will sport you $65k plus cover another $5k in bar tab bucks!
Then there's the cost of transporting it to the auction if it's not in your area. The fees and/or commissions involved, and all the other associated costs of travel.

Anyone know if they're in Indy or the surrounding area? Hope they didn't have to travel too far.

Paul