718Miata

Auction for my 72 240z

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    I'm new to auctions in general and would love to see this sell high. I was a little shocked at the 21% buyers premium though! Wow! That's gotta hurt the bidding value....

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    6 minutes ago, wheee! said:

    I'm new to auctions in general and would love to see this sell high. I was a little shocked at the 21% buyers premium though! Wow! That's gotta hurt the bidding value....

    Yes, but I’m not being charged a listing fee or a sales percentage. Mecum charges both, and a 10% buyer’s premium as well. So that allows me to set the opening bid lower and with no reserve. 

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    The suggested items at the bottom are interesting.  Janet and I can take pot shots at each other in our his and her man cave this Christmas.

    If you want to surprise us this Chrismas, we are more of a Johnny Seven gun-friendly family... vintage lawn darts are ok too.

     

    image.png

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    They definitely have some interesting items at the auction. It’s a Houston institution.  I’ve bought a few really great pieces of art there. 

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    1 hour ago, 240260280 said:

    The suggested items at the bottom are interesting.  Janet and I can take pot shots at each other in our his and her man cave this Christmas.

    If you want to surprise us this Chrismas, we are more of a Johnny Seven gun-friendly family... vintage lawn darts are ok too.

     

    Can I come too? I have toys....

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    15 minutes ago, 240260280 said:

    fine print: The man cave cannot be in Afghanistan.

    It's all good, I brought them home with me....

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    On 11/26/2019 at 2:32 PM, 718Miata said:

    Hi folks. I consigned my car again to a Houston auction house. The opening bid is $15,000 with no reserve. Here is the link:

    https://www.liveauctioneers.com/item/78726134_1972-datsun-nissan-240z

     

    Good luck with the auction!  Hope it goes well.  I also recommend putting up a classified ad here on our site with a link to the auction in the ad.  Here's the link to the cars for sale section:  https://www.classiczcars.com/classifieds/category/1-cars-for-sale/

    Mike

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    4 hours ago, wheee! said:

    It's all good, I brought them home with me....

    That's one hell of a carry-on they allowed you for the trip home.

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    That's one hell of a carry-on they allowed you for the trip home.

    You’d be surprised what fits on a Globemaster....
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    Question for the collective... So what was the deal with this car? He bought it at Mecum for 12.5K (plus buyers premium) in April and everyone went nuts for the car saying "He stole it at that price" and he could instantly flip it and make $$thousands$$:
    https://www.classiczcars.com/forums/topic/62036-my-mecum-purchase-1972-240z/

    He put about $4K into it:
    https://www.classiczcars.com/forums/topic/62036-my-mecum-purchase-1972-240z/?do=findComment&comment=577203

    And then started trying to sell it in July. Didn't sell for 25.5K:
    https://www.classiczcars.com/forums/topic/62553-saturday-houston-auction-of-my-1972-240z/

    Didn't sell for 23.9K and didn't sell for 19.9K:
    https://www.classiczcars.com/forums/topic/62704-for-sale-1972-datsun-240z-23900-or-best-offer/

    And then in the end, it finally sold for 15K plus commission:
    https://www.classiczcars.com/forums/topic/63201-auction-for-my-72-240z/?do=findComment&comment=588925

    So I've passed on a couple 240's because I wasn't sure I could get my money back and ended up kicking myself a little later because they sold later for a good profit. But then this example comes along and that does not happen.

    Anyone have any insights as to why? Is it just a fickle market?

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    1 hour ago, Captain Obvious said:

    Question for the collective... So what was the deal with this car? He bought it at Mecum for 12.5K (plus buyers premium) in April and everyone went nuts for the car saying "He stole it at that price" and he could instantly flip it and make $$thousands$$:
    https://www.classiczcars.com/forums/topic/62036-my-mecum-purchase-1972-240z/

    He put about $4K into it:
    https://www.classiczcars.com/forums/topic/62036-my-mecum-purchase-1972-240z/?do=findComment&comment=577203

    And then started trying to sell it in July. Didn't sell for 25.5K:
    https://www.classiczcars.com/forums/topic/62553-saturday-houston-auction-of-my-1972-240z/

    Didn't sell for 23.9K and didn't sell for 19.9K:
    https://www.classiczcars.com/forums/topic/62704-for-sale-1972-datsun-240z-23900-or-best-offer/

    And then in the end, it finally sold for 15K plus commission:
    https://www.classiczcars.com/forums/topic/63201-auction-for-my-72-240z/?do=findComment&comment=588925

    So I've passed on a couple 240's because I wasn't sure I could get my money back and ended up kicking myself a little later because they sold later for a good profit. But then this example comes along and that does not happen.

    Anyone have any insights as to why? Is it just a fickle market?

    As they say: "Enquiring Minds Want to Know..."

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    My guess is that the market has cooled down after some 240 Guild cars reached crazy prices on BaT. Also, my car was not entirely original. It also wasn’t perfect, as I learned. 
     

    SZR ultimately refunded $2000 due to my unhappiness with their work. So my total pre-tax baseline in the car was $15667.83. The buyer paid over $18,000 when one includes commission. So the car was still well-bought at Mecum after everything. 
     

    That being said, I learned a lot about my limitations from the experience. And I’m still happy I got to experience the car for 8 months. 

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    19 minutes ago, 718Miata said:

     

    That being said, I learned a lot about my limitations from the experience. And I’m still happy I got to experience the car for 8 months. 

    So, all good!  What's the next adventure?

    Dennis

     

     

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    I agree to. I think the market has cooled off some. Might pick up in the spring because of the 50 anniversary. Christmas can be a weak time of year to sell a car like this. Other priorities...

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    It only got 4 bids.  Fall and winter aren't the best times to sell a sports car, either.

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    2 hours ago, psdenno said:

    So, all good!  What's the next adventure?

    Dennis

     

     

    I got a new TTRS about a month ago, so enjoying that. If I buy another toy, its going to be a Miata (again).

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    I'm guessing that TT means twin turbo? Glad you sold the Z, you have something else to drive. LOL

    I agree with Zed Head. Christmas and taxes lock me up at the end of the year. 

    Flip side, you can get some good deal at the end of the year. Motorcycles and boats, lawn mowers...

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