HI Guys!
I promised to let you know what happened:
Good news! I DID sell my Black Beauty B today at the North Atlanta Trade
Center Classic Car auction. However, it didn't quite work out in the
conventional manner. I had set the (secret) reserve minimum amount at $7500.
High bid for her was only $5000.00 and I turned that down. They had a poor
turnout of buyers and the few real buyers there were looking for big
bargains across all makes and models. LOTS of VERY nice cars went unsold.
HOWEVER, Black Beauty DID sell, just not directly through the auction
process. Numerous persons had voiced interest in Black Beauty before she
went on the block, and told me that if I didn't sell her through the normal
bid process, that they would be interested in talking to me afterwards. I
took a gamble by turning down the $5000 but it really paid off in the long
run. I ended up netting approximately $1400 more for her by turning down the
$5000. By turning down the $5000, it also released me from having to pay the
8 percent auction commission ($400 in that scenario).
Several potential buyers did come up to me after the auction for her had
completed and I worked out a bottom final line sale of $6000.00 for her with
one of them. Already have the check. The best part about this is that since
it didn't sell through the auction, I netted more cash because I didn't have
to pay the 8 percent commission to the auctioneers since I legitimately sold
her AFTER the auction. There was no clandestine plot. It just honestly
happened that way.
If I had fixed a few of the paint imperfections and waited until spring and
nicer weather (and maybe a little better economy), I am certain I could have
gotten at least the $7,500 for her. I'm satisfied and feel like I got a
fair price for her taking everything into consideration - AND - I just
wanted it over with.
The one thing that I do know for sure now is that with her sold, I have room
and, with the $6000, enough money now to purchase for my new C-5 Vette!
Just as an FYI, they had a Black 80 MGB LE roadster there with no reserve
set. It sold (22 cars after mine was on the block) for only $3100!!! Plus
the owner had to pay a 6% commission on the sale of a no reserve car. I
guess I DID get pretty good money for Black Beauty if you use that as a
guage.
I'll miss Black Beauty but my new Vette will certainly help heal the wounds!
Jerry Erbesfield
73 Black Beauty B roadster (sold!)
jerbesfield@mindspring.com
http://jerbesfield.home.mindspring.com
/// or try http://www.team.net/cgi-bin/majorcool
/// Archives at http://www.team.net/archive
|