Think twice before auctioning off your car!

[juanone]

Well, I am so sorry to say, the gentleman I sold my Unique 289 to in NJ had to part with the car quickly, I mean quickly, sighhhh....

Had the car auctioned off at the Mecum 2010 in Indianapolis yesterday....terrible, terrible results.

I sold him the car for $67,500 in 2008. The car went off at the auction for, are you ready for this? $38,500. All the sweat and tears that went into this car. Goes to show you that if you put all the love and care in these cars only you will appreciate it, the auction totally ripped this one apart. What a shame. Almost $30,000 less than what he paid for the car in 2008. Makes me sick...ugh.

Load up the car of your dreams with all the goodies you want, just know that the expected return if you sell the car off at auction may turn out to be the dismal Mecum fiasco you see here. Enjoy your car with all the bells and whistles just don't sell your Unique at auction, you will be sorry.

Boy, am I ever sorry I sold this car and then turn out like this. I hope who ever bought it realizes how special it is. The price does not reflect it.

[juanone]

Truly, what is wrong with this picture. This Unique, truly I looked at it closely, was beautifully done. Worth more than the sorry, sorry high bid of, get this...$34,000??

Taking these beautiful recreations of love to the Mecum is akin to taking your Princess to the Red Light District and see what she can bring at the end of the night. I am so totally blown away, totally. Sad to see these labors of love and care relegated to this.

[RJacobsen]

Juan, I think you are a little quick to blame the auction for the value of these cars. With all due respect perhaps you haven’t noticed but the country’s economy is in the toilet. The value of my home has dropped about the same percent as your old car, and I am not exaggerating. You did, after all, get a very high price for your car from a buyer that “had to have it” at a time when car values were up and money apparently was not an object. Congratulations on your fortunate timing and /or sales ability. I think that the prices the cars went for is in line with their values at present and has little to do with the auction not doing their job. I know that your car was very nicely done and probably worth more than the average Unique but I have to wonder why you didn’t buy it back if it meant that much to you?

[spd4me]

Rod your right economy is bad. Most cobras I've seen sell at auctions and ebay over thw past 3-4 yrs are all in the 36 to 38,000. range. Look at Barrett Jackson. People spent 120 grand restoring a car that then sells for $36,000. It a hobby some people have more money to spend on than good sense.
Bob

[TurnpikeBoy]

Auctions are wierd events. Remember all the folks who went nuts a couple years back and were paying $1 million for '70 - '71 hemi Barracudas? Mighty lucky if they can get $300K for them now. Watched an original 1968 factory hemi Cuda in Atlantic City - with all the original paperwork, original engine, etc. - reserve at $450K and barely even reach $170K. It didn't sell.

The good doc needed to find a buyer who knew what he was getting....not often that's found at an auction. Being in a hurry also not helpful for getting right return. Luck of the draw, I suppose.

[juanone]

Rod,

For all desperate sellers there are quick buyers hoping to get an expensive thrill at red light district prices. It is not the auction's fault, you are right.

You are absolutely right though, had I the space to spare, I should have bought it back and sold it to the right buyer later, after all I was not desperate to sell the car. He had no idea what he had. Yes, he just had to have my car. I was not about to let it go for a price not worth the car quality and care that went into it.

[arrowdriver]

You don't have to be an economist to realize that the USA as well as Europe and much of the rest of the world are having financial problems and many people are struggling to keep a roof over their heads, making these kind of toys very much optional since they aren't even suitable for commuting to work, assuming one has a job. Frankly I am impressed that the cars got as much at auction as they did. I think it is testimony to the quality and reputation of the Unique cars.

To get the best return on your investment, get out and drive and enjoy the car. Unique cars are among if not the best driving of all the replicas.

[brfutbrian]

dont forget the 8- 10 % fee the seller paid on top of that low price. and im sure there were other fees incured by the seller too. it wouldnt have been such a big hit if he didnt have to have your car no matter what. should have tried cobracountry first. must have really had to unload it quick. or maybe he had dreams of being on discovery HD. pricey lesson i guess. later, brian.

[arrowdriver]

Some auctions operate with a "buyer's premium". How does that one charge?

[arrowdriver]

I took a look at the auction info. This whole transaction is not cheap for either the seller or buyer, particularly the seller who pays up front to get in the auction ($500 to over $1000 depending on what day and when his car goes over the block) plus 4 to 6% of the selling price depending if he has a minumum or not. The buyer then pays the auction house a premium too but they decilne to post how much that is. One can see why so many try to sell on Ebay or such since it is a lot cheaper. I wonder if these big public auctions get a better price? I can see though if someone is desperate to get some cash they at least do sort of guarantee a sale, drawback being you have to haul the car to their site as well an incur all the costs of the auction. My wife would be delighted if I sold some of my cars etc. but I figure I'll take them with me when I die, and if I can't take them with me I aint going.

[K.Wilson]

We went to the Mecum auction in Florida this Spring. We saw a LOT of great cars. The only thing I took away from the event was the knowledge that "Mecum is a great place to buy" provided that you know what you are looking at, and, it is not a place to sell if you are looking for a reasonable price for your car. The buyers are there to get a bargain.......and they usually do.
The TV guys don't show looks on the faces of the sellers when their "fabulous collector car" does not make it to 20K and they have the reserve set at 100K.

Keith

[JeepSnake]

This is why I don't believe I could ever build/restore cars for a living, Juan. I get attached to them, like you obviously still are with your old 289.

If it makes you feel any better, the owner two steps down the line from me on my old CJ-5 donated it to his church. They, in turn, had a local dealer auction it off, since I suppose they didn't have much use for a Jeep. Good cause or not, it felt like a hit in the gut that someone "gave away my old Jeep."

The CJ only had an 84 inch wheelbase, but I still wonder: how does one fit a Jeep into an offering plate???

Now, quit worrying about selling prices and go get busy enjoying your current ride!

[weaver]

I get calls almost daily from someone looking at one of our used cars, for the most part they are looking to steal a car, they know the market is down and they are taking advantage of that. I did sell a 289 for a customer last week that brought a good price, pretty much what the owner wanted, but I just sold a 427 car that brought about half what it cost the owner new. Have you noticed the number of Superformance cars for sale on Cobra Country, that just killed their new car market.

Alan

[cpd427]

Juanone, I saw your car at the auction inside the west pavillion and it looked great. I was excited to see a Unique and your car is a great example. I've seen replicas in fine shape in Mecum auctions before not fetch what their owner's might want and I think a lot has to do with the essence of the Mecum aution which is based on "original" muscle cars. As a result, our replicas probably don't get a whole lot of respect or the kind that they deserve, especially Unique-manufactured cars. That plus the present buyer's market usually doesn't equate to a healthy purchase price for the seller. Mecum is definitely a place to buy right now. Selling might not be so much fun depending on your expectations. Regardless, it's a beautiful car and somebody is very lucky right now.

[juanone]

cpd427

You have just closed this issue in a very classy fashion, well said, we all should be proud of the cars we owned, built and enjoyed. I for one did not build my car, I only offered moral support, but can attest to the level of care and quality these vehicles have invested in them by the people who build them.

Indeed, someone is a very lucky guy to buy one of these well built and engineered cars at well below market values.

[dmswann]

Juan,
The bottom line is.....You had UNIQUE build the car of your dreams and you got to enjoy it for a year or so. Not many people ever get to do that in their life time. Consider yourself lucky and say a prayer for the guy who lost $30K.

[eliminator]

I think that pretty much sums it up.............from Weaver down!!!

[juanone]

...Can I get an AMEN?

[weaver]

Amen, Brother !!!