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2005 Redline SSR 6 speed, 2013 Porsche Cayenne S 4.8 Liter, 1990 Harley Davidson FatBoy FLSTF
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Either of you Gents know what the hammer price came to?
 

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189 the LAST blur
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246 Posts
Discussion Starter #10
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.
 

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189 the LAST blur
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Discussion Starter #11
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.
 

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Tech Support/Research
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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.
 

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189 the LAST blur
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246 Posts
Discussion Starter #14
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.
589850
 
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