Morning guys.....great feedback, but still curious what everyone thinks of the the $109K purchase price.....I just am amazed by it.
Quote:
Originally Posted by mike s
You can have anything you want !!! If you throw enough money at it. My guess is he wanted it bad.
Mike
The 109K selling price still has McDorman losing money on it.
He paid $120K, so depending on the buyer's premium at that particular auction, could be into it for 132K plus shipping and interest on his purchase for 4 years.
He would have incurred some sellers commissions, likely less than the going rate of 10% because of the number of consignments, so he may have netted $105K on it. Still a loss of possibly $30000 on one unit.
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Quote:
Originally Posted by jimjacks
the last ssr sold to the public - will be presented as lot s56 at no reserve. Scheduled to cross the block on saturday, november 6.
Three 2003 ssr's will also be presented for sale. All part of the bob mcdorman collection.
The 109K selling price still has McDorman losing money on it.
He paid $120K, so depending on the buyer's premium at that particular auction, could be into it for 132K plus shipping and interest on his purchase for 4 years.
He would have incurred some sellers commissions, likely less than the going rate of 10% because of the number of consignments, so he may have netted $105K on it. Still a loss of possibly $30000 on one unit.
I'm guessing Bob paid no more than 7 - 7 1/2 % in commissions due to the size of the auction, unless he made a deal on a guaranteed minimum (which he most assuredly did), then it would have added another 2% or so.
I say this because I currently have several pieces of late model heavy equipment in an upcoming auction in Phoenix with the largest heavy equipment auctioneer in the world.
They hold unreserved auctions, and provided me several options with varying commissions, because they wanted these late model pieces with low hours to anchor their auction. They got down and dirty with a guaranteed minimum plus 75% of any amounts over the minimum.
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after it's used for my viewing in the funeral home.
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