Barrett jackson Additional Costs ??

[triple_green]

Thru a series of happy events, I was able to attend the Barrett Jackson Scottsdale fall auction. It was suppose to be mainly virtual, but there were probably 300 people there in person.

Seeing a BJ auction has been on my bucket list for a long time and this was perfect because it was much smaller, but had all the elements of the auction without the huge crowds.

I was shocked at what seemingly low money some of the cars sold for. Some cars that I thought should get $40K+ got 23-28K.

My question is  what costs are there in addition to the bid price? Is there a 15% buyers premium? and transportation costs, is it hard to to arrange transportation from there and do they add a premium to that? Any other hidden costs?

Thanks!
Mark

[AKcharger]

I watched some mecum auctions and thought the same thing,  WOW, great deal! Guess its specific vehicle and timing

[white]

I think there is a 20% buyer fee and a seller fee.

[Aero426]

Buyer's premium is typically 10%.     The seller pays 8% on no reserve or 10% on reserve.   

You will be liable for in-state sales tax where the auction is held if you drive the car off, or unless you provide proof of transport that the car will be shipped to another state.  

You will want to have the car insured when it leaves the auction site.

You may find the info at this link helpful.

https://www.barrett-jackson.com/Media/Home/Reader/a-map-to-consigning-bidding-and-taking-your-new-vehicle-home/

 

[6bblgt]

selling a car at Barrett-Jackson:
there is a consignment fee to place a car in a Barrett-Jackson auction, it varies with day and time that the vehicle is scheduled to run across the block
there is also a seller's fee, 8-10% of the selling price
in addition to the costs to get your vehicle to the auction site

buying a car at Barrett-Jackson:
$350-$650 to register as a bidder
there is a buyer's fee 10% in person & 12% on-line

so, your Charger goes to a BJ auction & hammers SOLD! for $50,000:
it is placed in a $500 timeslot
and you pay an additional $4,000 in seller's fee
******   you end up with $45,500 minus your costs to attend and transport the car to auction

so, you went to a BJ auction to purchase your dream Charger & it hammers SOLD! for $50,000:
you registered early and purchased a $500 bidder's package
and you pay an additional $5,000 in buyer's fee
******   you end up paying $55,500 plus your costs to attend the auction and transport the car home

[chargered]

Sounds like BJ has quite the scam going.  Their making out pretty good just to auction off a car. 

[Mike DC]

  
             
Does BJ supply the trophy wives sitting with the high rollers?  Some of those look like rentals.

[Aero426]

Sounds like BJ has quite the scam going.  Their making out pretty good just to auction off a car. 

How is it a scam?    Yes, the house wins when they sell a car.   It's how they get paid.   Some estate sales take 40% from the seller, but don't charge the buyer.   I guess that is a scam too?     Car auctions just split the costs somewhat equitably.   

[426HemiChick]

The best way to avoid the $fees$, buy / sell it yourself.

Best Always,

426 Hemi Chicks

[triple_green]

Interestingly they have moved the BJ Jan auction to March 22nd. We will be in Mesa the whole month of March....might have to wander over to the "big show"

[Just 6T9 CHGR]

Went to a BJ auction in West Palm Beach, FL in 2010.   It was like a 3 ring circus.  cars and people everywhere.   I can tell you this...seeing the cars in person you realize how much the TV screen hides.    A car that you would think is pristine on TV looks like crap in person.....