Kevin Hand Collector Car Collection at Auction

[Lynn]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: 66 L78 ragtop</div><div class="ubbcode-body">&quot;When the gavel drops on a car as quickly I hate to say it but, everything else on this thread seems to be a pointless tit for tat. </div></div>

Well said. Diametrically opposed opinions that will never be reconciled. Bunch of side issues that have no bearing on the differences of opinion.

BTW, what is tat? Where do you get it? How do you trade it for that other thing? Sorry, couldn't resist.

[Tracker1]

http://www.randomhouse.com/wotd/inde...?date=19960729
[img]<<GRAEMLIN_URL>>/grin.gif[/img]

[Stefano]

I think the points are extremely relevant or I wouldn't have made them.

Some cars spend more time and some cars spend less time on the block. The decision from a collector/enthusiast seeking to purchase a specific car is not usually made at the point, while it is running across the block.

That is usually determined before hand. What the block usually helps determine is how much someone is really willing to pay and in the case of &quot;with a reserve&quot;, the point at what someone is willing to accept in order to sell a particular car at that particular time.

There is no guaranteed block/gavel time. The point is, that once the bidding stopped, as in, there were NO other bidders and the three count was made.....no one else bid.

The auctioneers know who is bidding and if there are multiple bidders. Generally they can only work true bidders in a no reserve situation.

Many of Kevin's other cars spent a bit more time across the block because they had more individuals bidding on them.

If and when an auction runs a bid on behalf of the seller in order to help a particular vehicle get to a reserve.....it generally takes more time and can appear that there are more bidders than there actually are.



The story relayed by Kevin to his mouth piece on another site never mentioned anything about the time the car spent on the block. The main issue presented was protecting this particular car, from a low selling price. I know that when looking to lay blame some tend to grasp at multiple straws.

[Stefano]

Here is the banter from another site.

&quot;I Here's the story anyone including members of the SYC can correct me if I'm wrong Mr. Hand consigned (using this term loosely) his cars to sell at NO RESERVE at RS.The consignor NC assured Mr. Hand his cars were covered up to what Mr. Hand wanted to get.If they didn't meet Kevins number they were to be purchased back.The understanding was between Kevin ,NC and RS the auctioneer.Since there is NO legal paperwork to let a consignor buy their car back Mr. CC a well known Midwest car dealer was put in place to cover the bid.When the car reached $175 Mr. CC bailed which in turn led a customer of the consignor NC to purchase the car.
When Mr Hand confronted the consignor NC Mr. SB he blamed CC the Midwest dealer for dropping the ball.Mr. CC the midwest dealer claimed noone informed him of what the high buy back number was to be.Mr Hand furious over what he percieved as getting rearended proceded to bathe the Midwest dealer CC in an expensive beer to which then as Mr Hand was leaving the facility was jumped or restrained by 2 of the Midwest dealers friends.
So there you have it.Correct anything you conceive to be incorrect.

P.S. This was relayed to me .I in no way was on or near the premisis when this incident occured but it didn't take a psychic to see this one coming.&quot;

For the record, these libelous statments are not true.

[iluv69s]

Stefano, with all due respect, I do believe that the fact that these 'deals' protecting the seller at 'no reserve' auctions are relevant if they do in fact exist...especially if it is a verbal agreement and not written in any contract.

Obviously, you know more than me about what happened at the auction. But apparently, there seems to be some misunderstanding whether there was some kind of a verbal agreement made to protect Kevin.

Regardless if anyone feels it is relevant, I am asking the question. Has this type of thing happened in prior auctions?..and if so, was it ever done by a handshake or was it written in the contract?

If this has <span style="font-weight: bold">never</span> happened in prior auctions, it would go a long way for me to believe that Kevin may be 'crying' over a bad business decision..

And I also remember somone here telling how thier car stalled at a certain price before reaching the reserve, and then the auction company agreed to lower the seller's comission, and upon lifting the reserve, the car took off and the selling price soared way above the reserve price. I have seen many times when the price stalled and the auctioneer talked the car up again and the price continued to climb. Obviously different circumstances and auctions..but when a precedent has been set, it makes the possibility of this happening more believable.

I think we all deserve to know the answers to these questions so we can be better informed if we decide to buy or sell our cars at auction some day..it just seems odd to me that the auction company did not allow the normal time on the block for this car..(assuming this is what happened)or even give some extra time...what was there to lose?? was the high bidder going to back out if the auctioneer hyped the car for another minute before dropping the gavel??

once again, I do not know kevin or am I trying to defend him. And I do not have a bone to pick with anyone regarding this..I am just trying to find as much info (truth) as possible ..

just my humble opinion... thanks, max

[Stefano]

An auction company is a business and technically they can make deals with both buyers and sellers of vehicles, if they are within the laws of the land.

Every auction is different, as are the potential varying circumstances.

The commissions charged to the seller are generally lower with no reserve, since the the vehicle is going to sell with 100% certainty.

Auctions do not generally negotiate their commissions on a no reserve deal, across the block, since there is no need to.

Auctions do have the option to try and negotiate a sale across the block, when a vehicle does have a reserve.

It would be a prudent business practice to have a contract spelling out all the details of any such significant transaction.

It is none of my business to discuss or speculate on other people's private deals and or contacts, especially on a public forum.

All of the details and guidelines are spelled out in the auction contracts.

Many Auctions are businesses which generate $10,000,000.00s of dollars in Sales and do not operate without contracts.

In the case of R&amp;S Arizona 2011, there is no contractual provision for allowing protection of a no reserve vehicle. The way to achieve protection through the auction is by using a reserve.

Many members ran their cars at this acuction venue, most used a the reserve method. Some sold their cars while others did not.

I ran some of my cars both ways. When we got close to the reserve on the reserved cars we took it off and sold them. When we were not close we kept the reserve on.

[Stefano]

Found in Cyber Space.

Re: Listen Closely
« Reply #23 on: March 21, 2011, 03:55:38 pm »
&quot;I knew what was coming when I made the post. You see that everytime someone posts on the site that all off the clan chip in to try to protect and cover up the obvious. Charlie Lillard either did not know the details or he is DELUSIONAL, forget about the prices of the cars. SB got CC of all people to help me out. CC sold me a 67 Shelby GT500 in 2004 that did not have the original fenders on the car, the car had been wrecked and the Shelby serial numbers were gone, then told me he had cancer , couldn't sleep at night, but , wouldn't buy the car back. Yes , this is the guy who was on the SHELBY board at the time that lied endlessly about the car. When confronted you should have heard the barrage of lies. I later found CC had quite a few upset customers. Byt the way , guess who referrred me to him, that's right SB. Now this guy and SB are suppose to help me. You had to be standing by SB when this all happened and he tried to make it seem as though a mistake had been made, why his post the following morning about something changing, what change???
CL and TC are so simple minded and full of it when they do not know the details or the screwing I had taken before by CC . Thanks for the help, then tell me its my fault. It's a good thing I could afford the situation. I expected there to be a collusion amongst the members that made posts to support SB . If they only knew, and for Tom C. to point out that someone is foolish, he is the FOOL!They are all credible ,right?? I expected this from the clan, I wish they were their, they would have taken a beer bath too! Do your homework Tom before you jump in the band wagon! &quot;

[Fast67VelleN2O]

I don't care what kind of hand shake or verbal deal you have with someone prior to your car going across the auction block. If it is going through at NO RESERVE, you should expect that something may happen where someone would actually win it at less than what you would like to get it for.

Why run it at NO RESERVE if you want a minimum amout for the car? The only person at fault here is the SELLER. No one else.

[budnate]

who is SB and CC ???

[70 Forest Green Zee]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Fast67VelleN2O</div><div class="ubbcode-body">I don't care what kind of hand shake or verbal deal you have with someone prior to your car going across the auction block. If it is going through at NO RESERVE, you should expect that something may happen where someone would actually win it at less than what you would like to get it for.

Why run it at NO RESERVE if you want a minimum amout for the car? The only person at fault here is the SELLER. No one else. </div></div>

I agree with this 100% If the seller had a set minimum price he wanted for this car, he should have run it with a reserve plain and simple. He chose not to and got less than he expected....sorry but it's the sellers own fault and he has no reason to be complaining here, it's his own fault!!!

I ran my 1970 Z28 through the Mecum auction last Sept in St Charles with a reserve. It didn't make reserve so I took the car home, plain and simple. Personally, I don't understand why anyone would run a car at auction without a reserve...the reserve is there to protect you the seller and the commission is not that much more at Mecum with a reserve 6% vs. 4%. Just my humble opinion.