Mecum auction

[Steve Austin]

Mecum auction is on velocity. Way better than Barrett Jackson. Some nice cars at realistic prices. No time consuming BS charity stuff. They sell a car and move to the next one fast. I'm liking it.

[Jay13]

The cars are certainly more mainstream and affordable, but I like the fact that BJ has almost no auctions that have a reserve. I hate watching Mecum for an hour and 80% of the cars are bid goes on. All I learn is that the owner wanted more than the audience wanted to pay.

[Rob]

Originally Posted by Grey Ghost

Is it being internet streamed ?

you can sign up for free and watch it.

http://www.mecum.com/infonet/in_vide...live_video.cfm

[6spdC6]

Originally Posted by Jay13

The cars are certainly more mainstream and affordable, but I like the fact that BJ has almost no auctions that have a reserve. I hate watching Mecum for an hour and 80% of the cars are bid goes on. All I learn is that the owner wanted more than the audience wanted to pay.

Well that is normal get as much as you can when you sell. Sometimes common sense takes over and you take a lower offer, after figuring in your auction cost and transportation back to where you keep your car is figured in!

FWIW I like Mecum a hell of a lot better than BJ. More cars shown, less bullshit talked about, less commericals, more realistic prices and hardily none of those time wasting charity things, which normally is a who has the bigger dick contest. ( I want to see cars, not people) According to my limited knowledge of tax rules any amount over what’s a reasonable cost to purchase can be used as a tax write off, so these big spenders are doing as much or more for themselves as charity!

[Millenium Vette]

Originally Posted by Dixievet

you can sign up for free and watch it.

Mecum InfoNet - Live Video :: Mecum Auctions

Thanks for reminding me. It is different watching it with only the auctioneer on and not hearing the commentators like on TV.

[Hoog]

Originally Posted by Jay13

All I learn is that the owner wanted more than the audience wanted to pay.

Sign as you walk into a British Motorcycle Museum: "Everything you see is for sale. You simply must want it more than I."

No reserve auctions are good for everybody BUT the seller, IMO.

[Rob]

not a bad deal on that cushman

[Millenium Vette]

Originally Posted by Dixievet

not a bad deal on that cushman

I was just doing a screen capture and was going to say I could see Dixie with that set-up.

[Rob]

I am interested in (COE) T181.1 and T214 (Messerschmidt)

[Millenium Vette]

Originally Posted by Dixievet

I am interested in (COE) T181.1 and T214 (Messerschmidt)

Both of those are funky as all-get-out.

[jaxgator]

Originally Posted by Millenium Vette

funky as all-get-out.

I love that thing. Looks as hell in my book.

[Steve Austin]

Originally Posted by Millenium Vette

Both of those are funky as all-get-out.

Funky rocks.

[Jay13]

Originally Posted by 6spdC6

Well that is normal get as much as you can when you sell. Sometimes common sense takes over and you take a lower offer, after figuring in your auction cost and transportation back to where you keep your car is figured in!

FWIW I like Mecum a hell of a lot better than BJ. More cars shown, less bullshit talked about, less commericals, more realistic prices and hardily none of those time wasting charity things, which normally is a who has the bigger dick contest. ( I want to see cars, not people) According to my limited knowledge of tax rules any amount over what’s a reasonable cost to purchase can be used as a tax write off, so these big spenders are doing as much or more for themselves as charity!

As a viewer though, I like to watch an auction to see what a car will actually bring, not a circle jerk that ends without a conclusion.

As to the charitable issue, a person who purchase items at a charity auction may claim a charitable deduction for the excess of the purchase price over the item's fair market value. You have to be able to show that you knew that the value of the item was less than the amount paid. In recent years, the IRS has challenged a couple of these cases where the true FMV of the item is unclear. For example, tickets to a sporting event or airfare, etc. are relaitvely easy to prove. But the first C7 to roll off the assembly line? You have to be able to prove that the only reason the price got that high was due to the deduction and that the other bidders didn't consider the price to be the FMV of the car without regard to the deduction. In one case I am aware of, the taxpayer lost because the person he was bidding against wasn't a US citizen or resident and would not have gotten the benefit of the charitable deduction. In that case, his bid did, in fact, represent FMV. Best way to ensure a deduction is to turn around and sell the car immediately thus proving it's true value as well as establishing that you really didn't want it to begin with.