[Corvettetom]

SOLD today Lot # J 148 for $21,450 all in. There is 1 more listed on there docket for later.
Nice clean basic truck with decent mileage looks like a Florida piece.

 

[gaindian]

Yep, saw this one. No apparent damage. About 69K if memory serves.

 

[90 Fatboy]

Either of you Gents know what the hammer price came to?

 

[gaindian]

 

[gaindian]

Fatboy it was $21,450 plus 10% Buyer's premium and your state's sales tax.

 

[Corvettetom]

View attachment 589527
SOLD today Lot # J 148 for $21,450 all in. There is 1 more listed on there docket for later.
Nice clean basic truck with decent mileage looks like a Florida piece.

Here is the other one. It sold today. Seems like another local Florida piece.n

 

[Corvettetom]

 

[gaindian]

View attachment 589676

Little surprised by this sale.....

 

[04 PurpleHaze]

so what amount of the sale would the owner get from his truck if it were to sell for $27,500.......anyone know

 

[Corvettetom]

so what amount of the sale would the owner get from his truck if it were to sell for $27,500.......anyone know

Unless this seller was a "somebody" he got charged 10% commission that works out to a hammer price of $25,000. Subtract $2,500 leaving a net back to the buyer of $22,500 as well as $2,500 buyer paid on the hammer price. When a " the BID goes on" vehicle sells from the tent after a post sale I know they go down sometimes under 5%, again depending how the sale has gone and who the "somebody's" are.

 

[Corvettetom]

Fatboy it was $21,450 plus 10% Buyer's premium and your state's sales tax.

In this case the hammer price was $19,500 so net back to the seller was $17,727.27. Now there could be more deductions from this price If seller requested a specific time placement or rent location/spot, shipping, etc or any other service offered or requested from the Mecum Group. For sure this is a huge revenue business and shows why everyone is playing catchup with these guys.

 

[snomuncher]

Unless this seller was a "somebody" he got charged 10% commission that works out to a hammer price of $25,000. Subtract $2,500 leaving a net back to the buyer of $22,500 as well as $2,500 buyer paid on the hammer price. When a " the BID goes on" vehicle sells from the tent after a post sale I know they go down sometimes under 5%, again depending how the sale has gone and who the "somebody's" are.

Net to the seller/consignor at Mecum is usually hammer price less seller's commission (usually 10% unless otherwise negotiated or less- often 5%- if the vehicle is offered at no reserve) and also less the seller/consignor's run-through fee, the price he/she pays just to enter the vehicle into auction and run the car across the block. The latter varies based on factors like the time and day offered, e.g., Wednesday morning consignor's fee is less than that paid for a prime time slot like Saturday afternoon where many featured cars are auctioned. These costs can be $500 and up.

In a theoretical example, a vehicle with a reserve that hammers on the block for $25,000 could bring the seller $25,000 less 10 percent commission and less consignor's fee (say $500) and less any miscellaneous seller fees or expenes (say 5%), or $25,000- ($2500+$500+$1250)= $20,750.

 

[gaindian]

There's some confusion as to how this works. Perhaps this screenshot will help.

 

[Corvettetom]

In this case the hammer price was $19,500 so net back to the seller was $17,727.27. Now there could be more deductions from this price If seller requested a specific time placement or rent location/spot, shipping, etc or any other service offered or requested from the Mecum Group. For sure this is a huge revenue business and shows why everyone is playing catchup with these guys.

View attachment 589690 There's some confusion as to how this works. Perhaps this screenshot will help.

Thanks for sharing. Very interesting breakdown of the kind of revenue these guys generate.

Here's another truck that went thru I missed. A real Beaut with 7,400 miles and 6 speed.
Claims to be from a personal collection. Very strong sale.