Reggie Jackson Cars / Yenkos at Auction
 

https://www.mecum.com/lots/SC0518-32...enko-chevelle/

https://www.mecum.com/lots/SC0518-32...o-camaro-rsss/

A good number of those cars apparently went no reserve in BJ Scottsdale 2017. I wonder why they did not actually sell?

-67 L78 Chevelle Coupe
-67 L36 Corvette Coupe
-66 L72 Corvette Coupe
-68 L78 Camaro Coupe

maybe he was having an associate bidding to get the price up and they didn't get high enough. 10% is easier than losing your whole a$$

Does a seller still pay the 10% if his car doesn't hit it's reserve?

Chevelle - No Sale $310k vs an est of $250k - $300k

Camaro - No Sale $285k vs am est of $275 - $300k

That is very odd to me. Typically the auction company sets the est around the reserve. I know it is legal for the auction companies to do ‘chandelier bidding’ where the auction company basically pretends to have bids but I do not think they would do that so deep into or above the est.

Anyone here bid? Any reason these didn’t sell?

https://www.mecum.com/lots/SC0518-32...opo-camaro-rs/

RS COPO sells for $198k

https://www.mecum.com/lots/SC0518-327145/2017-ford-gt/

2017 Ford GT $1.8 million

Was this a charity auction?

No.......there are no additional fees other than an entry fee if the car doesn’t sell. However in a buy back scenario the action house still collects buyer and seller fees plus any potential tax due from the new owner.

No it wasn't:

https://jalopnik.com/mecum-auctions-...-mi-1826178072

This car belonged to my boss,we did a bunch of work to correct several issues,several after the pics were taken

I thought GTs couldn’t be sold for 2 years?

Yes buyers signed a agreement with Ford that the would not sell for two years or Ford could take legal action against them. This car had already sold once or twice. I was told Ford tried legal action on two other cars and lost both times.

My buddy has been in line for one and believes because thes 2 year-covenants are not enforceable that Ford could raise prices. Apparently the Canadian co that builds these also has a turbulent relationship w Ford. All interesting.

Yeah I reckon John Cena’s car was one of them. Not sure about the other one.

Wonder how they are losing these cases?

It may be a case of an unenforceable covenant. Just because Ford says they don't want you to sell your 2017 Ford GT for 24 months doesn't mean it's legal.

And that’s how attorneys make truckloads.

Every buyer signs the doc saying they agree they won’t sell for 2 years...which should be the end of it. I remind my kids that when you say you’ll do something and don’t, there’s only one word for that...

Ford could've done a mandatory lease as Ferrari did w/the F50. Or just built as many as the market would accept and let the 500K price point sort it out. They made several thousand of the last gen FGT and those are holding value pretty well at the moment (but weren't flying off the shelves near the end of their production run). Though the current sales scenario has folks talking a bit, so maybe that's ok, too ...

2017 Ford GT
 

FWIW

Dana Mecum stated on stage Saturday before the car was auctioned that a Judge ruled on Friday the day before: "This is America, and if you own it and have title to it, it is your's to sell" making the 24 month no sell rule null and void.

I did hear someone (Broker selling car?) say that the seller purchased the car from a Ford dealer, not Ford, and there was nothing listed on any paper work about the 24 month rule.

All and all, it was a great auction.

Bill

Flippers gonna' flip. Capitalism 101.

How Mecum Was Able to Auction a Ford GT Earlier This Summer

https://www.roadandtrack.com/car-cul...r-this-summer/

https://s26.postimg.cc/hukck839l/screenshot_6536.png

https://www.mecum.com/lots/CA0818-336746/2017-ford-gt/

Mecum is going to do it again next month in Montery.