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189 the LAST blur
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Discussion Starter #1
Just watched the last R go across the block lot U241. Looked like a real nice :black: 51,000 mile 03.
Was driven on and off the block as time is winding down and the pushers are wiped out. Total time was 1 minute and 40 seconds and the bid closed out at $13,000.00 That's what happens when you get a late number or at the end of any early day. Crowd is gone probably to watch football. Not many left at 4:30 on a Sunday.:crying:
 

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Super Road Rocket Pilot
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6,323 Posts
It was sold in an after block deal for $14,300 :surprise: Obviously it pays to stick around for the slow days. If you were in the market for an average mile R with low equipment level, it seems this was a nice deal.
 

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$13K + the 10% Buyer's charge would equal $14.3- so that's maybe why two different sale prices??
 

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How do the after auction sales go? Are you still required to add premium to price? Or is it private? It would make it worth the trip to some of these auctions if there was no premium. Jim
 

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Tech Support/Research
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Mecum Auction Prices

How do the after auction sales go? Are you still required to add premium to price? Or is it private? It would make it worth the trip to some of these auctions if there was no premium. Jim
The "sold" figure that appears on the Mecum web site includes the typical 10% buyers' premium. So a car that hammers sold on the auction block for $13,000 is listed for $14,300 on the site.

Mecum is not atypical of how auction companies operate. As a seller, you pay a consignment fee to offer your car for sale. That is typically a flat fee and varies based on the perceived value as well as the date and time of day it runs across the block (high-value cars being auctioned at a "prime time" have higher consignment fees). As a seller you also pay a percentage commission based on the hammer price. This too varies depending on whether or not you are selling at no reserve or with a reserve. As a buyer you pay a premium, typically 10%, based on the hammer price. The auction company gets paid three times.

If you buy through the auction company after a car crosses the block, they still get paid the same, based on the off-the-block negotiated sale price.
 
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