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djwarner

72 240Z on Mecum's auction today

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FYI

Lot L150 coming up today at Mecum's auction. No pictures shown on preview.

A non-original Series I coming up for sale later this week.

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Entertaining viewing, thanks djw.  They're up to 130.  It's been a mix of muscle cars, Range Rover, BMW's and oddball cars.  The current auctioneer is irritating.

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144.1  They got a new auctioneer.  Sta-bil is a sponsor (just thought that was interesting).

144.1.PNG

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Sounded like it didn't hit reserve.  Ended with "bid goes on", not sold.  Then later he said we just sold the Datsun.  Maybe the seller took the $25,000.  Don't know how these auctions really work.

150 c bid goes on.PNG

Edited by Zed Head
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Went to $25k. I wonder what the reserve was. I actually bought my 240z at Mecum back in September. The seller may have took the $25k or he may have been offered more. Either way Mecum will try and pressure the seller to sell the car so they can get a cut of the sell.


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The auctioneer definitely said "we just sold the Datsun".  I assume the sale price gets published somewhere on their site.  $25,000 puts it in between Good and Excellent.

 

72 240Z Hagerty.PNG

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Sometimes prices are negotiated/adjusted down if the car turns out to be less than represented. Also, the auctioneer repeats the next step in the bidding rather than the last bid made. Then when the car sells, they announce the winning bid - but not always. I believe the $25k number was the next expected bid.

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I watched a few and I think that once he got a bid the number on the screen only showed the last bid made.  Before he got the first bid though it would show what he was asking.  Maybe all bids are off if the reserve isn't met.  Still, $22,000 is a good number.  Who knows about quality of the car though, I guess you have to be there.

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Description of car from Mecum:

 

Color Green

HIGHLIGHTS:

Twin Carburetor 6-cylinder engine

4-speed transmission

Power disc brakes

Factory air conditioning

Factory tachometer and gauges

Factory polished wheels

AM/FM CD stereo

Rust free

Original paint and interior

Detailed undercarriage

 

Car looks nice. Miles not mentioned. No history mentioned.

Nothing special I see. I would say worth 18K.

 

Now the 65 Mustang before that was a STEAL.

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Interesting new development..... Another green 72 Z has been added without photos. Description is identical as the prior lot less "factory air". Is this the same car relisted?

FYI there are now 2 240Z's scheduled:

Lot S6 green '72 4 speed scheduled early Saturday Jan 14

Lot F268.1 orange '70 5 speed scheduled later Friday Jan 13

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Once the car does not hit the reserve they move it into the bid goes on area.  The price is totally negotiable at that point and time between the owner and the prospective buyer, Mecom acting as an intermediary.  The final bid has nothing to do with anything really.  I negotiated a deal on a 67 Corvette for $50K  it had a reserve of $58 and the final bid was $55.  Best time to negotiate obviously is on or near the end of the auction weekend. 

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8 hours ago, Jaymanbikes said:

 The final bid has nothing to do with anything really.  I negotiated a deal on a 67 Corvette for $50K  it had a reserve of $58 and the final bid was $55. 

Most auction houses in my experience will go to the "backup bidder" once the seller waives the reserve.  In this case, $55k.   You may have been lucky that they passed on it.   Also, the buyer premium thievery of 6 to 10% is added to the final price.

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Lot S6 (formerly L150) sold this morning with no reserve for $23K. This is a grand more than the first time it went up for sale.

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On ‎1‎/‎14‎/‎2017 at 9:38 AM, djwarner said:

Lot S6 (formerly L150) sold this morning with no reserve for $23K. This is a grand more than the first time it went up for sale.

Sounds like something fishy is going on.  Maybe the original buyer backed out?

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