Barrett-Jackson Car Auction 2007 – A Disappointment

I know it’s a bit late for this post, but I was disappointed with the auction this year. In the past, I have made sure that the Speed channel is on at all times when the auction is on, to catch something on the classic cars gone by. My first car was a 1971 Buick Skylark…boy, I wish I had it now. In previous years, the auction was good, however, it is becoming more and more of a game between a bunch of old men with more money than brains, who think that if they “top up” a bid for a “good cause”, that the “make you feel good” component of the event justifies the outrageousness of money being thrown around, and pocketed by Mr. Jackson and friends.
There are a few things I disagree with, as far as the auction costs are concerned. There was a fee for both the buyer (8% of hammer price) and seller (10% of hammer price), which is ridiculous. Based on receipts of $100 million, this gives B-J (funny acronym, considering the fleecing…maybe the winning bidders got kissed first, but who is going to complain about a BJ?) $18+ million. Keep in mind, that this is just the cars…don’t forget the outrageous entry fee to be a bidder, to even stand on the floor!!! ($500 USD, by the way…). Shelby’s Cobra was nice though…not worth $5 million, but still nice to look at;


I am not against free enterprise, or someone trying to make a buck, but if eBay tried to screw you for costs coming and going on an item, I would think that there would be a revolt. Since we don’t have a revolt amongst the rich guys at the auction, I can only assume that they do, in fact, have more money than brains.
If fees are not an issue with these guys, then do you really get the value of the car through their auctions? I doubt it. I know that when I was fantasy bidding, I kept thinking like a buyer, and undercutting myself on the hammer price, just thinking about the 8%/10% fees. Needless to say, I didn’t win the LCD TV.
What I didn’t like, was that everyone was jumping on the band wagon, trying to squeeze just a few more bucks out of these old guys, by pumping up guest appearances and trying to sell other vehicles, that don’t even belong. Concept soapbox vehicles (“gravity racers”), and trying to get a rise out of the bidding audience by selling the original written lyrics for “While My Guitar Gently Weeps”, with Alice Cooper in the background trying to sell his Zephyr mod, the Playboy Nomad (so they claim…), hinders on the original concept of the auction to sell prized and collectible cars. Commercialization at it’s best. Too much.
I think from now on, I will have to be selective on how much of the auction I do watch in 2008, and to realize that the auction is no more the place where true classic car lovers can go to get something of their dreams, without contributing to the lack of testosterone that the “ol’ boys” try to covet. Keep the $5 million Shelby…I hope it’s worth every penny. I’ll take a classic split window Corvette any day, and save myself a bundle.