Barrett-Jackson Auction Fraud Exposed

[Troy]

There were no reserves allowed at this year's show. That way BJ didn't have to leave a car on the block for 10 minutes to guarantee a sale (and their commissions). Could the complainers be guys who didn't get near enough money for their cars and lost a ton of money due to not having the protection of a reserve? Possibly, but they knew it going in.

Troy

[OneBadSuperbird]

There were no reserves allowed at this year's show. That way BJ didn't have to leave a car on the block for 10 minutes to guarantee a sale (and their commissions). Could the complainers be guys who didn't get near enough money for their cars and lost a ton of money due to not having the protection of a reserve? Possibly, but they knew it going in.

Troy

Yeah no kidding.  I don't know where Doright gets his infotmation but every single vehicle run through the Barrett-Jackson for the past several years has been NO RESERVE.

[Doright]

I do not know about the no reserve deal at this years sale at BJ it sounds like something he would try though and he has historically brought top dollar at his Scottsdale show.
I find it hard to believe it would bring that many nice cars at an all no reserve auction he is good and he draws a good crowd but he is not that good.
Way to risky! After all most restored cars go into the stratosphere in cost to restore and every one knows you loose money doing it but not every one is willing to loose every thing or almost every thing when selling especially at just one show.

[Doright]

I am no fan of BJ i am just telling you of my experiances dealing mainly with Kruze auctions wich to me they are all the same as
BJ He may be running an all noreserve show but if so you the seller are playing russian rullet with your car on one mans name to draw in buyers.
He will be bringing his show here soon so I will probably attend and will look into showing one or two of my cars for sale, If it is an all no reserve show I will be buying not selling though.

[Doright]

Woops Boy do I look bad  not first time So take every thing I said about BJ and cosider it BS
BJ is an all No reserve deal my bad sorry guys! open mouth insert foot!     SORRY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I have dealt with Kruze good pepole their! and the cars go just as hi

[c5_nc]

It that is not bad enough, at least those cars were as listed.  This 67' Corvette just sold for $78k at BJ
http://www.barrett-jackson.com/carlist/cardetails.asp?In_AuctionID=221&In_LotNumber=430
ONly problem is its actually not a number matching 327/350 car.  It has a 327 engine in it with 350 intake/covers.  Its been on ebay 6 times over the last year, most bringing in the $40s before buyers backed out after looking at the car.  AT least they didn't misrepresent as much in ebay ad: http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=300036636212

[472 R/T SE]

This one was bought back by the original owner.  This was his original ebay ad.  He should have taken a bidder's offer down at the bottom.
http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&sspagename=ADME%3AB%3AAAQ%3AUS%3A1&viewitem=&item=130069289622

And he paid $29k to buy it back.  I'm sure we'll see it back on the bay again for an astronomical price,  trying to get someone to offer another high dollar trade.
http://www.barrett-jackson.com/carlist/cardetails.asp?In_AuctionID=221&In_LotNumber=405
   405     1971 DODGE CHARGER R/T 2 DOOR HARDTOP     $29000.00

[TripleBlackGator]

With Craig Jackson's position in the collecitble automobile world, and the fact that he owns the company, combined with his purported arrogance and greed, one phrase comes to mind.

"Absolute Power corrupts, Absolutely"

Being in the position he is in, there is pressure to out do last year every year.

His circus depends on the values of these cars going up EVERY YEAR. It has been obvious over the past couple of years, in every circumstance except for at THe Circus, the values of those cars has planed off.

So How does he make the circus bigger and better every year?

If he is using shill bidders to artificially inflate the values of these cars, I truly hope he gets busted. He is creating problems and aggravation for everybody else in the car hobby if he's doing this.

How many of us have seen a 2500.00 Charger that the owner has for sale for 10k because he saw "the same car" sell on Barrett Jackson for 250K?

He is one of the people making it harder for Normal guys that truly love these cars to own them. A WHOLE LOT of the people who own them now have no clue
What a Torsion bars is or how it works. 



Amen brother!   

[Mike DC]

 
The B-J auction has distorted the values of a few A-list musclecars and made a major profit doing it.  If they're shady, few people will be surprised.  The whole auction thing was interesting for a while.  But IMHO it's long ago passed the point where it stopped being good for the rest of the old-car hobby. 

(I don't care how many million bucks that 1-of-1 HemiCuda just sold for, it isn't gonna make Goodmark produce fenders for my 318 Charger.  All that auction does is encourage a few occasional car-hoarders to sit on a few rusty hulks a few years longer.)

 

[RT DAVE]

This one was bought back by the original owner.  This was his original ebay ad.  He should have taken a bidder's offer down at the bottom.
http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&sspagename=ADME%3AB%3AAAQ%3AUS%3A1&viewitem=&item=130069289622

And he paid $29k to buy it back.  I'm sure we'll see it back on the bay again for an astronomical price,  trying to get someone to offer another high dollar trade.
http://www.barrett-jackson.com/carlist/cardetails.asp?In_AuctionID=221&In_LotNumber=405
   405     1971 DODGE CHARGER R/T 2 DOOR HARDTOP     $29000.00

I saw that car and thought it was a good deal.   Did a third party buy the car or did he bid on his own car for $29K?  If that's the case (that he bid) wouldn't he just be out 18% (buyer and seller fee) as he'd be essentially buying the car from himself?

[hemi-hampton]

Hows that guy figure his 71 R/T worth $175,000? The BJ Offer more realistic compared to his ebay price. I agree with Dudly DORIGHT. To many Clueless people out there see a 71 Hemi Cuda Convertible get a few Million then Automaticly figure there Basket case Barracuda 318 now worth a few Hundred Thousand or there 1974 6 Cylinder Valiant now worth 50K.

[Hemidoug]

There is a new post RE: the removal of the original B-J article...good read with more to follow I'm sure...http://fourwheeldrift.wordpress.com/

[Blakcharger440]

With Craig Jackson's position in the collecitble automobile world, and the fact that he owns the company, combined with his purported arrogance and greed, one phrase comes to mind.

"Absolute Power corrupts, Absolutely"

Being in the position he is in, there is pressure to out do last year every year.

His circus depends on the values of these cars going up EVERY YEAR. It has been obvious over the past couple of years, in every circumstance except for at THe Circus, the values of those cars has planed off.

So How does he make the circus bigger and better every year?

If he is using shill bidders to artificially inflate the values of these cars, I truly hope he gets busted. He is creating problems and aggravation for everybody else in the car hobby if he's doing this.

How many of us have seen a 2500.00 Charger that the owner has for sale for 10k because he saw "the same car" sell on Barrett Jackson for 250K?

He is one of the people making it harder for Normal guys that truly love these cars to own them. A WHOLE LOT of the people who own them now have no clue
What a Torsion bars is or how it works. 



Amen brother!   

Yep,no doubt about it. 

[Doright]

Hows that guy figure his 71 R/T worth $175,000? The BJ Offer more realistic compared to his ebay price. I agree with Dudly DORIGHT. To many Clueless people out there see a 71 Hemi Cuda Convertible get a few Million then Automaticly figure there Basket case Barracuda 318 now worth a few Hundred Thousand or there 1974 6 Cylinder Valiant now worth 50K.

I thought that was a good one too he should have taken the guy's offer with the Vett and the other Charger he would have been money ahead.
I do think the early 3rd gens are under valued right now but they aint ever going to be worth that much, except maybe the 71 Hemi car's

[Crazy Larry]

Looks like they settled a lawsuit out of court and now are on trying to salvage their reputation.....

Here is the latest...

http://www.barrett-jackson.com/media/pressreleases/010908_FinalStatement.asp

The lawsuit arose from circumstances surrounding the sale of Clabuesch's vehicle at Barrett-Jackson's January 2007 Scottsdale auction. Unhappy with the price paid for the vehicle, Clabuesch locked and chained the tires after it was sold, and attempted to prevent delivery to the new owner. Clabuesch also posted numerous signs in and around the vehicle expressing his opinions about Barrett-Jackson and the company's auction practices. Visible in one of the most high traffic areas of the auction site until removed by the company's security officer and local police, the signs were viewed by the company's customers and members of the public attending the event. Shortly after the January 2007 incident, the company was faced with responding to numerous defamatory rumors and untrue statements related to the Clabuesch incident, which were published on various Web sites, blogs and online chat rooms.

A settlement was mediated on Jan. 7, 2008, by former Superior Court judge Rebecca Albrecht. In connection with the settlement, Clabuesch issued a written, notarized statement that reads:

"Upon review of auction video footage and further consideration of the relevant facts, I, David L. Clabuesch, have concluded that with respect to the January 20, 2007, auction of my vehicle - a 1970 Plymouth Hemi-Cuda - conducted by Barrett-Jackson that I can no longer pursue any action alleging auction irregularities, including the claim that the car was short hammered while on the block. I have also determined that there was no relationship between Barrett-Jackson and the buyer of my vehicle, nor was there any conspiracy between Barrett-Jackson and the buyer of my vehicle, or any other person, to short hammer the sale of the car. I no longer believe that Barrett-Jackson violated the terms of the consignment agreement in conducting the auction sale or otherwise breached any duties to me as a consignor."

Anyone know other details about this incident - how much did the auction for the Cuda end at?

[Chad L. Magee]

I think it only brought $200,000 if I remember right.  The owner was hopeing that it would auction for something in the half million range.......

[snooter]

how are prices at this years (2008) auction..i wont support the snake pit antics by watching more hen 10 minutes

[Chad L. Magee]

Prices on mopars are down based on last years numbers, but there are only a few at that auction to begin with.  I think that has a lot to do with last years poor showing of Mopar products and how there were just too many Hemi Cudas being dumped onto the market at one time was depressing prices during the last one.  This year, I just saw a blue 1970 Cuda 440+6 shaker car go for $87500 + 10% buyers fee, but I don't know what might be wrong with the car (or if it was truely a V-code or just a U-code).  Corvettes and Camaros are doing well there as are some Fords, but the Mopars are not stealing the show as times previously.  A low milage 71 Z-28 with a redone (or replacement) engine went for $100,000!  A lot of people watch this particular auction as a pulse on the market, but with only a few real Mopar cars there and usually being auctioned off during commercial time, it is hard to really call that a full downturn overall.  I would rather look at all of the auction results with all of the other car auctions combined before determining if the market is down or not.  Remember, alot of the $ spent at B-J is done to "one up the Jones"......

[Hemidoug]

Boy...this thread came back from the dead!

[Rolling_Thunder]

A friend of mine's father purchased a Boss 429 Mustand last year and afterwards he said "I'm NEVER going back to Scottsdale"   He has purchased a total of 17 cars from B-J and has finally said no more.

[69_500]

The prices seem to be down just a bit this year. Down quite a bit on some cars, but not as much on others. I was suprised at what figures were being bid for the 55-57 T Birds.

[Crazy Larry]

A friend of mine's father purchased a Boss 429 Mustand last year and afterwards he said "I'm NEVER going back to Scottsdale"   He has purchased a total of 17 cars from B-J and has finally said no more.

Why did he say "no more"? Did he notice a degradation of the auction quality?

He bought 17 cars from them before, so he must have liked them and then something happened that made him say 'good bye'.

What was it?

[Crazy Larry]

Boy...this thread came back from the dead!

i was going to start a new thread surrounding the latest statement from B-J in regards to a law suit that was brought against them......

http://www.barrett-jackson.com/media/pressreleases/010908_FinalStatement.asp

I just was looking for a little more info as to the specific complaints the Cuda owner had.

Risking a gang-up for not continuing the topic on an existing thread - I decided it fit along with this one.

[snooter]

hmmmm...here is money now be quiet..typical as to how white collar crime is resolved

[Hemidoug]

Boy...this thread came back from the dead!

i was going to start a new thread surrounding the latest statement from B-J in regards to a law suit that was brought against them......

http://www.barrett-jackson.com/media/pressreleases/010908_FinalStatement.asp

I just was looking for a little more info as to the specific complaints the Cuda owner had.

Risking a gang-up for not continuing the topic on an existing thread - I decided it fit along with this one.

I wasn't getting on you for it...I was just suprised that you could find a year old thread! I agree....it was a good place to post what you did!