Mecum CFTP Heritage

[MAGS1]

Mecum’s auctions just don’t preform like Barrett‘s for whatever reason. There’s an HE 350R sitting on BAT now at 125k with 4-5 days left. A HE 350 at 69k at Mecum is 76ishk with fee’s. That’s still above msrp. The 20 Cftp painted stripe car I watched today at Barrett sold for 110k with fee’s. Still above msrp. The seller could have got that on there own. Not sure why anybody chose’s the auction route with the really high fee’s.

Yeah I’ve noticed the same between Mecum and Barrett, not really sure why one outperforms the other. I agree, if these guys are selling for what they could get on their own, it’s not worth the fees they have to pay at these auctions. VIN 001 E-Ray went for $1.15M today at Barrett. Pretty good number as far as those charity auctions go.

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[cahouston]

I was there at Mecum Houston today. There were 4 Heritage edition GT500s, 2 with CFTP, and 1 of those looked like it was taken from shipping container to storage. Plastic still on everything, shipment and delivery stickers still on it. Had window sticker for $112K. High bid was $115k. The others saw high bids of $110K and $100K. None met reserve.

It was a blast seeing all the cars there though.

 

[Inthehighdesert]

As cool as I think the HE 500’s are, even the cftp’s, I just don’t think they’ll ever do what the HE 350R’s will. And to be honest if I could have a third it would be a Cftp in eruption green. That color is stunning on these cars In my opinion. Which obviously means squat.

I was there at Mecum Houston today. There were 4 Heritage edition GT500s, 2 with CFTP, and 1 of those looked like it was taken from shipping container to storage. Plastic still on everything, shipment and delivery stickers still on it. Had window sticker for $112K. High bid was $115k. The others saw high bids of $110K and $100K. None met reserve.

It was a blast seeing all the cars there though.

 

[Tomster]

As cool as I think the HE 500’s are, even the cftp’s, I just don’t think they’ll ever do what the HE 350R’s will. And to be honest if I could have a third it would be a Cftp in eruption green. That color is stunning on these cars In my opinion. Which obviously means squat.

No, it means a lot. I agree with all you said, to include eruption green.

 

[Evolvd]

I must be odd man out cause I’ve seen EG in person in various lighting, to include full sun, and it doesn’t do anything for me

 

[Inthehighdesert]

That’s a good thing, otherwise we’d all be chasing the same woman. Lol

I must be odd man out cause I’ve seen EG in person in various lighting, to include full sun, and it doesn’t do anything for me

 

[Inthehighdesert]

And right after I post that a HE cftp/painted sells for 176k. I’m disregarding the vinyl that went for 200k earlier this year for whatever reason. -

No, it means a lot. I agree with all you said, to include eruption green.

 

[UncleSams_SVT]

Isn't the purchase price you see on the screen including the auction fees? You can hear the conversation about it at times during some of the auction cars. Some sellers were refusing to remove the reserve because with the commissions they wouldn't see that net amount. One was negotiating with Mecum and got it down to 5k commission.

There are buyer and seller fees based on the selling price.

 

[DrZed]

There are buyer and seller fees based on the selling price.

So when the hammer drops at 200k, the buyer pays $200k but the seller gets 180?
The buyer pays more?

 

[MAGS1]

So when the hammer drops at 200k, the buyer pays $200k but the seller gets 180?
The buyer pays more?

The hammer price is the gross sale price that the buyer pays to the seller. The seller then pays Mecum or Barrett or whichever auction house a fee based on that hammer price which is deducted from the price the buyer paid. So in your example, $200k hammer price =$180k net to seller after fees.

Edit: so those are some of the discussions that the Mecum and Barrett folks have with sellers to drop the reserve in order to make a sale, reducing the seller fee to net more to the seller

 

[UncleSams_SVT]

6-10% sellers fee (depending on reserve/no-reserve), and a 10-12% buyers fee (in-person/online).

So the auction house makes roughly 20% on each hammer drop.

This is what I have found online anyways.

 

[Inthehighdesert]

And people lose there …. with the small margins franchised dealers have as mark-ups(adm’s aside)on cars. Even with adm’s it rarely hits the 20% mark.

6-10% sellers fee (depending on reserve/no-reserve), and a 10-12% buyers fee (in-person/online).

So the auction house makes roughly 20% on each hammer drop.

This is what I have found online anyways.

 

[Bigred911s]

Reality is coming back to the car market. Dealers took a gamble holding these and now even local to me, I see GT500s sitting months in their showrooms. I feel sorry for all the folks who paid $20-30k markups. Too many of them have been built so the rarity isn’t there to make them a good investment. That’s my opinion.

 

[DopamineQuest]

Reality is coming back to the car market. Dealers took a gamble holding these and now even local to me, I see GT500s sitting months in their showrooms. I feel sorry for all the folks who paid $20-30k markups. Too many of them have been built so the rarity isn’t there to make them a good investment. That’s my opinion.

There's 404 GT500's (2020+) on auto trader in the whole country. A TON of them have been wrecked/have unclean titles. The others with the huge markups, the dealers are happy to sit on them to bring traffic or just to keep them.

I'm not saying they're a great investment, but even 13-14's are holding full MSRP values, and those cars aren't half the car these ones are.

 

[Tomster]

Reality is coming back to the car market. Dealers took a gamble holding these and now even local to me, I see GT500s sitting months in their showrooms. I feel sorry for all the folks who paid $20-30k markups. Too many of them have been built so the rarity isn’t there to make them a good investment. That’s my opinion.

says the guy driving a 2016 mustang GT

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