Here are the results for Saturday, November 18th at Leake Auctions in Dallas, Texas. Some of the vehicles now have new owners and some went home with who they came with. If you have never been to an auction, the energy is addictive. Lots of money and lots of cars changing hands in a matter of a minute or two. All prices do not include fees.
Let’s check out those results!
1972 DeTomaso Pantera: $77,500
1957 Cadillac Series 62 Convertible: $58,000
1961 Pontiac Bonneville Convertible: $42,500
1995 Ford F-150 Lightning: $18,500
2007 Ford Mustang Iacocca Edition: Not sold at $43000
Added bonus for those that are curious:
1953 Packard Caribbean: $65,000
My good buddy John Walsh piloting that quiet running beauty to the stage.
How did you do on your fantasy bids? Anything you wished you had bid on? Have you ever bought or sold a car at auction?
Too rich for my blood overall. Yes I bought the Vette via a Manheim Auction in N.M. I did better than the car had been listed on the sellers website just a week before. It also helps having someone with a dealers license to bid on them for me.
Pantera sold for $78.5k and I don’t think that included a buyer premium/fee (if they have one). This car is a driver quality #3, incorrect rear deck lid, damage to the interior, etc. Remember that discussion about the project for 37k ??? A properly restored car will cost you every bit of six figures, don’t know why people still don’t get these.
“the energy is addictive. Lots of money and lots of cars changing hands in a matter of a minute or two. All prices do not include fees.”
And a lot of fools getting royally screwed by the hyped-up atmosphere. And a well-deserved screwing I might add.
My guesses were:
Pantera $75000, actual sale: 78500
Cadillac $29000, actual 58000
Bonneville $32000, actual 42500
F150 $12500, actual 18500
Mustang $68000, not sold at 43000
Looks like I should bid on Pantera’s and stay the heck away from anything else at an auction. No wonder I usually go home disappointed.
I went to a Mecum auction in Denver ready to bid, but all the cars I was interested in got bid up beyond what I thought they were worth. There was maybe a small handful of cars sold that I would consider bargains. Seemed to be a lot of bidding frenzy and a lot of dealer/flipper guys buying multiple cars at what seemed like crazy prices. I’ll stick to private sales, thanks.
I rest my case. Anybody buying a car at one of these fiascos ain’t too smart. A fool and his/her money are sure to show up at Mecum, Leake, et al. And they will be quite happy to part said fool from said money.
From what I’ve seen, early on the first day is when you’re most likely to find a bargain, especially at a no reserve auction. The desirable big money cars are usually saved for the period of time when the most high roller players are likely to be in attendance, which also allows the most time for them to be shown off to the most people before they cross the block. ( This may not be the case at smaller auctions where insurance claim cars ( damaged, recovered stolen, etc )
judgement lien , and trade-in cars are the bulk of what’s being sold )
The two not sold Packards turn up with two lot numbers. Do they run them across the block a second time if not sold first day?
Sometimes, not always, if a car doesn’t sell on Friday or Saturday, it will be re-run on Sunday.