Everything I did wrong when Selling my Car at the Barrett Jackson Auction
HTML-код
- Опубликовано: 2 окт 2024
- 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.spreadshi...
-----------------------------------------------------------------------
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
in other words greg, dont sell your car at barret jackson!!
Did you just save me 14 min and 36 sec?
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.
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.
A very good description of the Barrett Jackson process, I never knew all these details. Live and learn I guess.
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.
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.
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!
Just look at the employee reviews of BJ to get a glimpse of what type of business they are.
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
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.
One of your best videos . Great you shared your experience in detail to us 👍
What a bummer….. but lesson learned Craig! Thanks for sharing! Jackson might be a good place to buy but not sell!
Great lesson. I'm surprised BJ didn't have a handler help you prep the car for the best price.
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.
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.
So what you're really saying is you failed to look online for any videos like the one you just posted. Very disappointing. From your previous videos you appear to know what you are doing. I challenge you to find a better way. You got hosed.
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.
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.
It's always somebody elses fault. I think Shrinks have a name for people like that.
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
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
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?
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.
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.
on the previous video you said it had 600+ HP ,you dynoed it at low 500. Then you stated 1 of 55 Sonic Blue Verts..... See why we can't trust you...
Get over it bro. I know you messed up when you decided to sell it there. But you made money on your videos. And now you're making another video. So you probably came out alright. But yeah, it was stupid to sell it there. Needed to put it up and find the right buyer that wanted that. Should have got at least 50 for it.
Would never sell at Barrett Jackson.
Nope, I won’t be doing that.
Noone asked, but OK.
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.
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.
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.
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.
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 RUclips content. You should notice the first day that you had things wrong and pull out the auction unless they corrected them
Damn, that was a nice car! Always wondered why BJ never mentions the miles on the TV broadcast
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!
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 ..
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!
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.
It’s just not that desirable of a car. The price was right.
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.
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.
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
This was eye opening!!!
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.
I hope you get all your money after making this video 😂😂 Adios
Sounds like its not worth the hassle all the way around for that Barret Jackson auction. Even if you have a rare high dollar vehiclethe Buyers can default - Joy Ride in your car & the ONLY recourse you have is to take the vehicle back shipped at your expense ! Oh my GOD what a
ripoff !
Next time try Mecum, you can set the reserve, I would think you would have more control.
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!
Pretty unimpressed that BJ would sell any cars without quickly mentioning important things like the mileage. You’d think Year, Make, Model, and Mileage would be standard to announce for every car
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
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!
From you description of Barrett Jackson. They sound like a legal loan shark outfit. They are making money off the $25k you have not received yet.. I personally will never sell a car at Rip Jackson Auctions no matter how much money I might have.
Thanks for the great information.
craig... it would also be nice if you explain the purchasing of a vehicle at barrett jackson...and all issues...just like selling
Very informative. Thank you!
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!
Barrett Jackson is overrated honestly. It's good for big ticket sales but for a small dealer like you, stick to what you know.
Yes sir yu made a mistake wasn’t there faught u saw yur car a couple times before it wen thru wen u was sayn people not lookn at at them one person did but jus a lesson learned didn’t cost tht much to learn wat u learned Heyy u go killem next time homie 💯💯🫡🫡
A video based on what we already knew when it went to auction in the last video.
This is a repeat of the last video
Please stick to buying fixing detailing selling it’s what we wanna see.
And continue the Ferrari flip please.
Another great lesson from Craig. Thank you!
Good video. Such a shame about the mileage. That's not cool. They, of all people, know that and I think they should've gone out of their way to include that info.
With all the negative comments about Barrett Jackson...why even deal with them?
Their contract is too one sided. And their make interest on your money as well Craig . 30 days times how many cars?
Did you not state about 2 years you will never sell a hummer again.
H2
Love your videos! Looking for a Chevy S10 manual, what do you think?
Whine more than a hellcat had to cut it short.
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🙏
Add this to your online course
Always include the mileage
Rookie mistake
Looking at some local listing, it looks like 33k to 38k is retail price for that car.
Idk but Barrett Jackson takes a percentage and plus you never get what you really want
CRAIG, guess you won,t be attending B.J. anymore.
I've always felt that auctions like Barret and Mecum are just for rich people to trade their toys amongst each other.
Who's buying a car like that workout asking the mileage??
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.
You should fight with Jackson auction especially it comes to hard earn money.
Mail the car across the country and not wash it before auction $150
I would never sell it! It was in perfect condition 😢😢 and low miles on it.
If you have opportunity to sell again your cobra, witch one avenue you choice BaT , MECUM or Barrett Jackson, and why? I was follow this particular series since beginning,, thanks you
@John Herrera How about " Cars and Bids" ?
Boy, you really screwed up.
Was the barret Jackson clout worth it? Hope it was 5K worth
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.
Well if you don't get your money could always fly down there and drive it back and enjoy it on the drive back but I do hope you get your money
sounds like an expensive lesson. Only Barrett Jackson makes money with no risk.
All cars are sold at B-J at no reserve? When did they start that?
I sell about a half dozen classics per year at classic car auctions and 98% of the time I make decent money but the one time I tried Barrett Jackson I got burned VERY BADLY!!! Barrett Jackson is BAD NEWS!!!
Your biggest mistake is your valuation of the car. The buyer of this car paid all the money for it at $30k + fees. The convertible terminators are not as desirable as the coupes. What did you feel like the value of this car was?
it’s definitely insane a company that charges a percentage on selling price didn’t put all the info out
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.
Great video! Thanks for all your teachings.
You are the man who is usually detail oriented.Then why didnt you have a spare key in your pocket at the auction so you could have unlocked the car and lowered the top like you wanted to do and maybe even marked the mileage on the paper on the windshield with a big MAJIC MARKER....Maybe next time....
Oh stop complaining greg
You are a car dealer and you trusted an auctioneer to sell your car? LOL!
Bro, stop it. You messed up. You should have never sold that car there. You even knew that? I don't wanna hear about this car anymore. Get over it. You messed up. Big time.
Maybe if the Meguires guys could have put some wheel shine on the rubber
@flyingWheels you might consider blurring the phone numbers on your whiteboard
Not to be THAT guy but I had my reservations about BJ decades ago when I saw their practices. Charging you to list it, show it and then sell it and buy it? Bit of a rip if you ask me.
I was thinking about sending Mexican Spec cars to one of these auctions in Arizona. I am re-thinking that now.
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.
If a seller or house will not tell me the mileage-I walk.
Why didn't you write it on the windshield
wouldve been a good idea. I didnt realize it wouldnt be announced