News:

It appears that the upgrade forces a login and many, many of you have forgotten your passwords and didn't set up any reminders. Contact me directly through helpmelogin@dodgecharger.com and I'll help sort it out.

Main Menu

What do you think will become of Auctions ?? (because of virus concerns)

Started by odcics2, March 17, 2020, 09:33:37 AM

Previous topic - Next topic

odcics2

I've never owned anything but a MoPar. Can you say that?



Ghoste

A few have been cancelled already and we expect ours (in May) to be cancelled but we are planning for both going as planned and a postponement.  The phones arent ringing off the hook and clients are as unsure as everyone else.  Sothebys and Bonhams have been around for what, 4 or 500 years?  They've survived a few pandemics now, so I imagine they will bounce back again.  Unless the political landscape changes drastically left of course, in which case personal property will go away.

odcics2

Quote from: Ghoste on March 18, 2020, 05:05:30 AM
A few have been cancelled already and we expect ours (in May) to be cancelled but we are planning for both going as planned and a postponement.  The phones arent ringing off the hook and clients are as unsure as everyone else.  Sothebys and Bonhams have been around for what, 4 or 500 years?  They've survived a few pandemics now, so I imagine they will bounce back again.  Unless the political landscape changes drastically left of course, in which case personal property will go away.

Already happening now. Check your 401k.    :'( :'( :'(
I've never owned anything but a MoPar. Can you say that?

Mytur Binsdirti

I just had an occasion to be talking to the people at the Carlisle Fairgrounds and they are playing it by ear whether they will cancel spring Carlisle or not.

odcics2

Got this from Mecum-

March 20, 2020

In this time of rampant uncertainty, especially surrounding large social gatherings and events, there is at least one thing on which car enthusiasts can continue to rely: Dana Mecum's 33rd Original Spring Classic auction will take place as Mecum's next consignment-based collector car auction, no matter what unfolds in the near future. We have already secured back up dates in case the developing circumstances necessitate any delays, and will send more information if and when it becomes necessary.

After 32 consecutive years of holding this annual flagship event, Mecum is building up and marching toward this year's auction with every intent of hosting the best Spring Classic auction ever. Every employee of Mecum Auctions remains hard at work, and all of those efforts are directly focused on the success of the Spring Classic, which is now our priority.

After the American public has been put in a box and pent up for several months due to social distancing and isolation, collectors are going to be hungrier than ever for a taste of the auction action, and President and Founder Dana Mecum stated that this confluence of circumstances "will result in the most successful Spring Classic ever."


Mecum Auctions
   

For additional questions, please contact us at 262-275-5050 or email us at info@mecum.com
I've never owned anything but a MoPar. Can you say that?

AKcharger

Quote from: odcics2 on March 21, 2020, 07:18:34 AM
Got this from Mecum-

After the American public has been put in a box and pent up for several months due to social distancing and isolation, collectors are going to be hungrier than ever for a taste of the auction action, and President and Founder Dana Mecum stated that this confluence of circumstances "will result in the most successful Spring Classic ever."


Well ya' gotta admire  his optimism. Personally I'm thinking a public who have been unemployed for weeks (or months) are going to be more interested in paying all their delinquent bills and finding work as opposed to buying a toy

myk

I think it's mostly those people in the service industry that are either finding greatly reduced work or are being released from work altogether; basically, people that usually can't afford these cars in the first place.  So, I don't think that the trading of these cars will be affected by a lack of funds, rather the caution and wariness that even those with money would feel in uncertain times like these.  Once people start to go out and live their lives again the trading will commence as usual...I think...
"imgur-embed-pub" lang="en" data-id="a/mB3ii4B"><a href="//imgur.com/a/mB3ii4B"></a></blockquote><script async src="//s.imgur.com/min/embed.js"

Ghoste

RM have cancelled events as well.  Mecum will be a good indicator to the rest as to what is happening.

AKcharger

I have changed my mind (after my post on the economy was deleted) Things are going to be great! everyone will have lots of money and things will be EXACTLY as they were...in fact better!!!

Challenger340

Quote from: AKcharger on March 22, 2020, 07:50:15 PM
I have changed my mind (after my post on the economy was deleted) Things are going to be great! everyone will have lots of money and things will be EXACTLY as they were...in fact better!!!

Did you delete your post or was it deleted for you ?

Either way regarding our economy ?     yeah....    OK....   
Only wimps wear Bowties !

AKcharger

Quote from: Challenger340 on March 22, 2020, 09:59:53 PM

Did you delete your post or was it deleted for you ?

Either way regarding our economy ?     yeah....    OK....   


Someone deleted it...guess it really struck a nerve. Funny, I've been here for 17 years and saw many a controversial  thread get locked...but never outright deleted. I suspect my outlook was too close to the grim truth  :pity:

Challenger340

Quote from: AKcharger on March 23, 2020, 09:19:24 AM
Quote from: Challenger340 on March 22, 2020, 09:59:53 PM

Did you delete your post or was it deleted for you ?

Either way regarding our economy ?     yeah....    OK....    


Someone deleted it...guess it really struck a nerve. Funny, I've been here for 17 years and saw many a controversial  thread get locked...but never outright deleted. I suspect my outlook was too close to the grim truth  :pity:


I guess we better delete this thread as well then ?
because...
I've been in Business for over 40 years, done well in good times and not so well in bad times.... just my opinion, but this one is unprecedented in my experience ?
and,
I mean/intend unprecedented in a not so good way ?
because I have NO CLUE how anything I've seen or heard is going to do anything more than "contain some of the debris"....  like a diaper on a Transmission explosion ?

Some of the upcoming Car Auctions should be very telling ?
Because for awhile Gold was actually going down as people were selling to cover Shorts/Losses/etc. in the market ? But Today Gold is headed upwards substantially within again dropping market equities ?
Let's see what Prices some Classic cars are BID !

Only wimps wear Bowties !

cdr

Quote from: AKcharger on March 23, 2020, 09:19:24 AM
Quote from: Challenger340 on March 22, 2020, 09:59:53 PM

Did you delete your post or was it deleted for you ?

Either way regarding our economy ?     yeah....    OK....   


Someone deleted it...guess it really struck a nerve. Funny, I've been here for 17 years and saw many a controversial  thread get locked...but never outright deleted. I suspect my outlook was too close to the grim truth  :pity:

I was very disappointed it was deleted !!! 
LINK TO MY STORY http://www.onallcylinders.com/2015/11/16/ride-shares-charlie-keel-battles-cancer-ms-to-build-brilliant-1968-dodge-charger/  
                                                                                           
68 Charger 512 cid,9.7to1,Hilborn EFI,Home ported 440 source heads,small hyd roller cam,COLD A/C ,,a518 trans,Dana 60 ,4.10 gear,10.93 et,4100lbs on street tires full exhaust daily driver
Charger55 by Charlie Keel, on Flickr

AKcharger

Quote from: Challenger340 on March 23, 2020, 04:33:26 PM

...
Some of the upcoming Car Auctions should be very telling ?
Because for awhile Gold was actually going down as people were selling to cover Shorts/Losses/etc. in the market ? But Today Gold is headed upwards substantially within again dropping market equities ?
Let's see what Prices some Classic cars are BID !



I'm going to again be the Voice of Doom (VOD) and predict valid collectors cars (Hemis Shelbys, SS427's ect.) will see a sizable hit but still move, mostly because the people that can afford them...still will be able to afford them. Anything that was previously in the $40-90K range will not move at all. Those were targets of the "upper middle class" who finally "made it" and want to splurge but now their play money will be gone. The people selling them will still believe their "resto-mods" or restored '68 Chevelle 350  are  worth the money they put into them and will "hold out" until the cars are almost worthless.
I think the REAL movement is going to be the $40K and under market...these are middle/lower middle class that will have to pay bills and have little to no savings. In a few months they'll grudgingly accept WHATEVER cash is handed to them.

odcics2

Quote from: AKcharger on March 25, 2020, 09:34:48 AM
Quote from: Challenger340 on March 23, 2020, 04:33:26 PM

...
Some of the upcoming Car Auctions should be very telling ?
Because for awhile Gold was actually going down as people were selling to cover Shorts/Losses/etc. in the market ? But Today Gold is headed upwards substantially within again dropping market equities ?
Let's see what Prices some Classic cars are BID !



I'm going to again be the Voice of Doom (VOD) and predict valid collectors cars (Hemis Shelbys, SS427's ect.) will see a sizable hit but still move, mostly because the people that can afford them...still will be able to afford them. Anything that was previously in the $40-90K range will not move at all. Those were targets of the "upper middle class" who finally "made it" and want to splurge but now their play money will be gone. The people selling them will still believe their "resto-mods" or restored '68 Chevelle 350  are  worth the money they put into them and will "hold out" until the cars are almost worthless.
I think the REAL movement is going to be the $40K and under market...these are middle/lower middle class that will have to pay bills and have little to no savings. In a few months they'll grudgingly accept WHATEVER cash is handed to them.

Could be some deals out there....   
I've never owned anything but a MoPar. Can you say that?

Aero426

Quote from: odcics2 on March 25, 2020, 10:34:57 AM

Could be some deals out there....   

I hear you. 

Check this out.   I realize it is an outlier and we're not 90 days down the road yet.   But wowza!    I've owned one of these.   There must be 30k in cash in the spare tire well.

https://bringatrailer.com/listing/1978-ford-county-squire/

taxspeaker

The new multi-trillion bailout bill will cause inflation to an extent never seen in this country-far outpacing the early 70's in about 18 months. When inflation is rampant knowledgeable investors put their money in hard assets, not cash. Collector cars will drop in price dramatically over the next 6-9 months as owners become economically squeezed from the fallout of this virus. Wait about 6 months and buy at the bottom, but only the long term collectible cars-not the generic muscle cars, and then watch out for an explosion in prices caused by inflation over the following several years. If Congress is smart (you really can't put those 2 words in a sentence) the capital gains rates will be increased in 3-4 years to start capturing some of those profits! Summary-don't buy now, wait 6 months if buying. If selling either sell now or in 5 years.


Aero426

Quote from: taxspeaker on March 25, 2020, 12:48:06 PM
The new multi-trillion bailout bill will cause inflation to an extent never seen in this country-far outpacing the early 70's in about 18 months. When inflation is rampant knowledgeable investors put their money in hard assets, not cash.

Bob, where is the gub-mint getting the money to do this?   Are they printing it?   Are they borrowing it?

taxspeaker

Doug they will be printing the majority-inflation will go nuts

odcics2

I've never owned anything but a MoPar. Can you say that?

69_500

Quote from: odcics2 on April 05, 2020, 01:06:05 PM
Quote from: taxspeaker on March 25, 2020, 04:16:32 PM
Doug they will be printing the majority-inflation will go nuts

Time to buy a gold Daytona.   :yesnod:

I would take one in any color. I am not picky. Gold. or even yellow, or white, bronze, red, blue, green. I don't care.

odcics2

I've never owned anything but a MoPar. Can you say that?

Ghoste

The place wehre I was working had first postponed the spring auction to July and then called it off for this year altogether.  They are still planning for a fall auction in October but who knows?  The last I spoke to anyone at RM they were hoping to salvage the Monterey sale in August as that one is their flagship.  As for me, I made a career switch just as this covoid stuff began closing North America and I would say it was a lucky decision on my part.