Everything I did wrong when Selling my Car at the Barrett Jackson Auction
ฝัง
- เผยแพร่เมื่อ 3 พ.ค. 2023
- I lost money selling my Supercharged 2003 Ford Mustang Cobra Terminator How to buy and sell cars at Classic Car Auctions the right way
__________________________________________
Follow our socials: / flyingwheelsinc / flying_wheels_ / flyingwheels
-----------------------------------------------------------------------
Support our channel, buy wearing our Clothes! shop.spreadshirt.com/flyingwh...
-----------------------------------------------------------------------
Subscribe if you are interested in: #cardealer #MuscleCars #classiccars
-------------------------------------------------------------------------------------------------------
Kennebelle Supercharger Turbo kit Dyno stock factory horspower for supercharged cobra 2003 2004 specs MSRP values for sale buying and selling cars for profit car flipping 101 flip cars buy cars wholesale sell cars at auction mecum cars and bids bring a trailer Baret Barret Barett Barrett-Jackson Dealers license auction license - ยานยนต์และพาหนะ
![[Live] : ONE 167 วันนี้!! "ตะวันฉาย vs โจ"](http://i.ytimg.com/vi/D9_dvfIa6Ao/mqdefault.jpg)
in other words greg, dont sell your car at barret jackson!!
Did you just save me 14 min and 36 sec?
I have been a used car dealer for just over a year. The biggest lesson I have learned is in order to do business, everyone's hand is in your pocket sucking money from your bottom line. Everything from licensing, insurance, software, financing, after market warranties, auction fees both selling and buying, flooring plans, reconditioning costs etc, building/lot rent, tools, utilities, office supplies, infrastructure etc. The time it takes in the background to keep a small dealership operating is almost a full time job in of itself. Margins may seem attractive at first until you get deep into the business and with everyone's hands in your pocket you find out quick that your profit mostly goes into other pockets, not your own.
Seriously considering starting my own used dealership. I’m an ASE mechanic with 8 years exp and flipped 10+ cars so far all profitable. Would you recommend it or stay away?
Well said ..
I had a dealers license and went to dealer auction when you were buying the buddies of some of the other dealers bid you up stacked deck at best
In time you will learn how to mitigate most of those expenses.
@@jimschnars2866 That doesn't matter if you never go over what you are willing to buy the vehicle for.
Love the honesty Craig. You broke even but should have made money. So you and us learned a lot. It's a push so that's good too.
You easily would of gotten way more . If you showed mileage .
Craig knows about business, he's even got his online course. What a rookie mistake to make
@@acorndogs904 but was it a mistake or did they mess up. I remember we wrote mileage on the windshield dont know if allowed where he went
@alvis serrano in the last video the professional said he didn't put the mileage in the advert, this so-called professional writes adverts daily and spouts about what he has and how his online course will help. The professional went to auction and didn't even add the best selling point of his car.
Not way more. He got a decent number all things said. He got super lucky
@Cousin Eddie last video he said he paid for a decent number and he wasn't happy with the time the vehicle ran.
Just look at the employee reviews of BJ to get a glimpse of what type of business they are.
Never heard of a seller being happy with the results at any of their auctions. Just like any car buyer, most collectors want to deal face to face, not through auctions. Nobody wins except the auction house. Best advise is to always stay away from these collector car auctions. Personally, every time I have seen one of the guys from this outfit talk, I feel the need to take a shower.
Well said ..
I feel the same about Craig
@@williamking200 Epitomizes the stereotypical car auctioneer that you wouldn't dare turn your back on. Unfortunately, also the public perception of the typical used car salesman.
@@60frontenac Yep! Never know how much homework and repair the used car dealer has done so you go in expecting the worst while the dealer tries to maximize profit. Being honest and saying I just want to make x number of dollars on the vehicle would be refreshing. Also, here's the vehicle history as I know it. Heres what I did to get it ready to sell as well. That alone would make a buyer feel so much better about a purchase. Too many dishonest car dealers.
Mecum and Barrett J are for entertainment purposes only. I have seen many big youtubers lose their ass at these auctions. I would never personally sell a vehicle at either one.
Or "buy". Craigs smart. He knows what he doing!
Wow great video, sorry for the tough lesson you had to learn dealing with Barrett Jackson. Its so great your willing to put yourself out there like this to try and help the next guy. I really enjoy your channel. keep up the great work!
We live, we learn. Fortunately you are someone who is willing to reflect and analyze so that it's a one time small mistake.
I have attended more than a dozen Mecum Auctions over the years and this year Barrett Jackson Scottsdale. The biggest issue I have from a buyer's side is the in ability to test drive the vehicle you are about to bid.
A very good description of the Barrett Jackson process, I never knew all these details. Live and learn I guess.
Very Helpful and informative. While I have attended both Barrett-Jackson and Mecum auctions numerous times, I have never bought or sold anything there for some of the reasons you mentioned.
This was eye opening!!!
Great video. Haven’t seen one of your vids in a while but they’re always fun to watch. I’ll look out for those hummer videos soon. One of my dream vehicles for sure.
Thank you for sharing! Much appreciate it and even though editing for these videos can be tough and time consuming you still inform us. So THANK YOU and God bless🙏
The difference between a successful businessman and unsuccessful is sometimes the ability to recognize and learn from your mistakes.
The fact that you immediately understood your mistakes is not to be taken for granted.
Thank you for this great video.
Another great lesson from Craig. Thank you!
I very much appreciate your video on this topic. I’m sorry it didn’t work out as hoped, but appreciate your willingness to learn and pass it on. Thank you
Great video! Thanks for all your teachings.
What a bummer….. but lesson learned Craig! Thanks for sharing! Jackson might be a good place to buy but not sell!
One of your best videos . Great you shared your experience in detail to us 👍
Starting in 1975 I was an under the radar car flipper. I stuck with bread and butter cars because they were easy to sell and make a profit. I understand the temptation to play with toys but it's not worth it.
Thank you you for the comments on your love for the Continental. I have a ‘63 hardtop in my driveway. Now I have some motivation to start working on it again after this video! Much love. Enjoy your content.
That is a great perspective on the "Big Auction" side. My parent's old 35th Anniversary Brickyard 400 Pace car went through Mecum last yr I believe, seen it live crazy experience. That V is a great car! Almost 3 yrs ago I bought one for my 40th birthday present to myself. Mine is a no moonroof car, with Recaro's. Pretty basic, but was a GM promo car for the first yr. It also had 102,000 when I purchased it. Still worth way more today!
Great Video, thanks for showing the way the Auction Works
Nice input. Brings awareness to others before they hit the scenerio
Here's my two sense I know I'm a nobody but barret jackson is a totally different experience and I believe that life and things in life there's trial and error I think it was a great learning experience and you learn some stuff they're not mistakes the life lessons and experiences will make you better in the future stop beating yourself up and know that you're an awesome person and that you have great people that look up to u it was a first-time experience so you'll know next time what to do better
Great lesson. I'm surprised BJ didn't have a handler help you prep the car for the best price.
Craig, it's only a little surprising that you got burned by such a famous name like Barrett Jackson. What's most surprising is that with all your experience, you hadn't spoken to others that have gone through the BJ process and known how they can screw you (no pun intended there but kinda funny).
no it's not, they're all awful. I've bought 5 cars from Mecum, and not once have I not felt like I was screwed. MY 70 challenger almost killed me on the way home, my Porsche, went to register and they said it was a salvage title... it was a mistake, but they were definately doing some sketchy stuff
Craig, I'm really curious why they don't apply any 'tire product'. It always makes a car look more presentable, in my opinion. Is there a weird reason?
I noticed this too. Those tires looked horrible
Agree, the car presented poorly
Awesome info. Thanks for sharing.
Nice resolution! thank you for all and in detail. Now we know how the 'scams' works.
Thank you for sharing your experience!👍
Very informative. Thank you!
Helpful video, thank you for sharing your experience
BJ like most auction houses is an arbitrage operation. They make their profit targets on the fixed fees from cars going from a seller to a buyer through them, not the commissions. Since there’s no reserve and they don’t know six months out what will roll across the floor, they can’t forecast commissions. However, they do know how many cars they can run through per hour, and how many total hours the auction will run. Every number will be sold, some at a 50% premium, and participants will pay the fees. BJ is covered, and the commissions are just gravy. Works exactly the same way with watches, art, real estate, and so forth.
Great video man! Thank you
Great, informative video!
Thanks for the great information.
I live in WPB, I was there Saturday and I Saw your 2003 Cobra! When I saw the price it was sold for, I was like damn that was a really good price. Wish I was in the market to buy, I would have placed a bid if I was in on the day it was auctioned!
Mistakes are learning experiences. I always buy off the owner of a car and refuse to be sucked into the EGO game of BJ, BAT or Mecam auctions. One must drive any used car before buying it, which is not allowed at these auctions. The things one cannot see are generally the expensive issues that are nearly impossible to avoid at these auctions.
Thanks for your humble honesty.
Learned a lot,thank you.
Would never sell at Barrett Jackson.
Sorry about your experience. Thank you very much for the video. It was very informative. I also liked the editing of it.
Your biggest mistake was that you didn't go to Barrett Jackson's to sell your car you went there for the experience, to buy a car and for TH-cam content. You should notice the first day that you had things wrong and pull out the auction unless they corrected them
The biggest mistake you made, and you should have known better, is that you bought the car WAY wrong. You don’t buy a convertible to flip, at a collector car auction, at the top of a downhill market, and then try to unload it in April. That’s newbie behaviour. By all means it was an awesome car, but you bought it at a keeper price, not a flipper price. It was an L from the start.
My son used to have a mustang that was very much like that one, just not "Terminator". It had all the super charged upgrades, suspension, ect, ect. He bought it as a play toy when he really needed a family vehicle and ended up selling it at a loss because he had to sell it fast.
I'm fortunate that I have a friend who has a small dealership and over the years I've bought two vehicles through him. He runs a straight up honest business and knows that people like me don't have a lot of money to waste on buying mistakes. In return I send others to him when they need a decent vehicle at a fair price.
I like your videos because I get to see what it's like operating in another state.
Good video....helpful for folks who might do a BJ auction with their car. I attended my first Barrett-Jackson auction in Palm Beach about three years ago. My general impression was that many of the cars, when seen in person, are really not as nice as what they appear on TV under the lights. A lot of them just look like a common used car. Sure, there are creme puff beauties that go for big money. But best to remember that pictures (and TV cameras) can make things look a lot better than they are.
100 percent agree. We went to BJ in Scottsdale AZ a few years ago, and I was really struck by how mediocre almost all of the cars actually were. Cloudy chrome, faded crazed paint, worn, faded interiors. They make them look so good on TV, but the reality is quite different. I enjoyed walking around and looking at the cars, but I don't think I would ever buy a car from an auction house.
You're Never too old to learn! Im 56 and am Still Learning!!👍
As a BUYER I'm glad you have to give them the CLEAR title in advance. This way I know the car is not stolen or a scam from the seller.
Man I wish I could afford that CTS-V you got! I love that car! You know that car has the same motor as the corvette, ZL1 Camaro. Its fast AF!
Teaching the students the right way to make right business and of course profitable money
Love your videos! Looking for a Chevy S10 manual, what do you think?
Barrett Jackson is tough. I have a buddy that has been doing it for years. It took him a long time to get a spot on Saturday night’s Usually people like him get them after they consistently list high quality cars in almost every auction. If you noticed people put stickers on the top of the windshield with the mileage or rare options on them. It is very stressful as you know and hectic when auction time comes.
I would ask for some money back. The aution f**ked up.
Good luck with that! If there's one thing the auctions know how to do it's take money from your pocket while covering their asses.
Love your videos
Thanks for sharing
Hey man, I met you about a week ago at Barrett Jackson Palm Beach, from the outside It seems easy to sell a car there but I find out it is not. thanks for the info brother and it was very nice to meet you. David Rojas.
This has been a really interesting series of vids to watch. While I really enjoy watching the B-J auctions, I think playing as a buyer is high risk. It's pretty clear why BAT is becoming a venue of choice despite all the hassles.
Dealer here. The price you sold it for is about average. We sold a clean title mint black 2003 Ford Mustang SVT Cobra with around 28k miles for $28,250USD in March.
Well done ..
This video made me happy. 😊
I think 30k is about right for the car. These car with low mileage are worth quite a bit more bone stock.
I guess u haven't checked out how much these cars are going for...minimum 35k for that kind of mileage. Minimum. And I believe he stated they built much less in that color or it was some type of anniversary edition cant remember which he said so that adds value also and im not including that.. so yeah. I think 38k is a solid number for this car.
@@SC68170 Negative on that number being modded and not original owner with no history. Being a conv. also holds back the number a little. Sonic Blue is one of my favorite colors but also triggers a certain buyer and turns away others.
@@jpat99 Your out of your mind if u think that's a 30k dollar car. And the Convertibles were more money than the coupes. 37k 38k are solid numbers👍. Do your research.
Considering that I had a CO myself and also an admin on one of the biggest platforms and longest running sites for these cars, i think that I am aware of values. Had that been a stock blower car presented better, it could have pulled a higher number sold somewhere else. People are not running to BJ to buy these cars yet and also know the additional fees to do so. With buyer premium that person paid close to $32k for the car.
u took a chance to hit a Home run going Barrett Jackson and u strike out. it was a good learning experience at the end of the day u still made money
I know someone who bought a 1970 Elcomino at BJ. The seller cranked down the lifters so you could here the knock ! The engine was junk ! There must be thousands of buyer and seller nightmares out there but you just don't hear about them . Too many people as sellers use these auctions as a front to unload there junk ! They hide behind the auction house name and of course the auction house always comes away with clean hands !
Florida Man here. In Florida, any car more than 10 years old is mileage exempt, so mileage won't be mentioned, unless the title shows "actual mileage" on it.
It's also to cover BJs ass. They don't know if the odometer has gone around
I learned one thing... not taking no cars to Barrett auto auction... thank you for the great 👍
Damn, that was a nice car! Always wondered why BJ never mentions the miles on the TV broadcast
craig... it would also be nice if you explain the purchasing of a vehicle at barrett jackson...and all issues...just like selling
$35-$40k locally! I have same car but a coupe with 18k miles (in Mass) and people are paying big $$ for these cars! Love the content!
Thanks for highlighting the fine print in that auction and you could have sold that car in your area relatively easy....
Love that stang
This would be a completely different video if that car sold for $40-50k. You took the car to an auction knowing regular people are down on cash and that was your best bet of banking off it. Risk vs reward and hindsight is 20/20
I am surprised the VP of BJ didn’t build up your car more since he is such a Mustang expert on Mustangs. Come on over to Ontario and I will sell you my Low mileage 91 LX coupe cheap, mint condition no winters
Love your show
Dale M
I've always felt that auctions like Barret and Mecum are just for rich people to trade their toys amongst each other.
Education costs $. Well Done
Next time try Mecum, you can set the reserve, I would think you would have more control.
I live in the Phoenix area and this is a known thing. Obviously, you've provided great content through the whole 'series,' just sorry you had to pay for it.
Craig, would you consider taking th Hummer to Barrett-Jackson or another high-profile aucton?
GREAT info for the masses.... what you need is a "shill bidder" on the side like most high volume auction sellers from auto auctions to ebay.
Looking for the right viper right now. Gotta have AC though so old ones are out. Love the GTS, but 30k more and it’s not a convertible here in Florida is a double con. Not a huge fan of the body change either.
Well lesson learned stear clear of B/J so so one sided . Congrats on the real content . Hope many listened to your wisdom.
You are a gentleman dealer .
I can’t believe they didn’t list the mileage. That’s nuts.
Yeah… it’s so fn important. Wtf?
A lot of their cars are so old it doesn't matter. I can see their side though. If they say a car has 21,000 and it has 22,000 the buyer can claim it was fraud. They don't want to get involved in that.
You paid $5K for an education. Money well spent IMO. Love the Lude, I have a 95 JDM SIR spec that was imported by Japanese Classics LLC. Same color combo as yours.
I was thinking about sending Mexican Spec cars to one of these auctions in Arizona. I am re-thinking that now.
I own a sub 1000 mile 03 cobra “all original” Tbh with the non listing of the miles “not right by BJ” vert, modded etc. 30k is a good number. Could of been worse. Alot worse.
It's a good learning experience for sure. I think it would have done well on something like carsandbids, you end up with a wide enthusiast market. It's amazing that they don't have required listing lines that have to be filled out like mileage, title, color.. ya know the basic stuff most people want to know when buying a car.
Theres is a silver 04 cobra that was selling a while back in my country with 21k miles for 14k (terminators are cheap where in from and so far i only know the existance of 3) a year after i managed to get in contact with the owner and made friends with him, seeijg how much these go for only make me wish to buy it from him so much.
I always had better luck following Barrett Jackson and selling a few classics by following their auction and listing them locally
I’ve heard that cars over 10 years old don’t show the mileage….also maybe you could of experimented with a 10K car instead of the Cobra!
Not listing the mileage is on BJ!! They need to do something for you to make this tight. Perhaps a free listing in the future, like you'll ever go there again.
Maybe if the Meguires guys could have put some wheel shine on the rubber
I agree, I watch B.J., Mecum..etc
Love classic muscle.
But would never sell a car @ B.J., don't get a good trust worthy vibe from them. And some cars require a reserve because of market, crowd, time of year conditions.
B.J. is way too much hype.
Always loved Mecum, represents true market conditions better I think.
B.J. is more into "big shots" on a TV show, "charity show offs"..
Mecum is all about the cars.
Looking at some local listing, it looks like 33k to 38k is retail price for that car.
I never hear where the car's homes were. Rust belt or sunny Arizona. Makes a difference. As for not showing milage, buy a big windshield sticker
That mileage fiasco is BIG. I think exactly like you. If I don’t know the mileage I gotta assume it’s high as a bidder. Do the let yah write anything on the windows there? Maybe even a label on the dash. Whatever it takes to let people know. Kinda crazy that your mileage isn’t in the description. I’d be steamed. It’s literally as important as a clear title.
It’s not a loss though. Knowledge is power. The next auction you can run five cars because you learned a lot. I hate gambling though. Mecum seems like a much better option. My friend with the two Lincolns he said he won’t sell uses Mecum.
Do you still have the cheap escalade? The one with no roof?
For what they charge in fees, they should have known better with regards to the mileage disclosure and reached out to you. You have every right to be pissed. Even my local public auction show miles ON EVERY CAR or specifically announces TMU.
I will never sell anything at Barrett Jackson or any other auction. I’ve sold all my cars online and did well always. It’s not worth it !
Which platform?
How hard would it have been if You simply wrote the mileage on the windshield ?
Would that have been illegal or just frowned upon ?
Great detailed Video, but something missing?!?! You gave BJ the mileage, whom wrote vehicle description? Do you write it or BJ. I guess BJ edited your letter and excluded mileage. How did mileage get on other BJ cars and not yours? What if they edited the year or model would that be 'Fair', no of course not?