Mecum will also quote you for vehicle transportation to the auction site if you desire. If your car does sell, great, but know that you’ll pay a seller’s commission—5 percent of hammer price without reserve, 10 percent with a $1,000 minimum on eight of the auction’s 11 days.
What are Mecum rules?
All Lots offered are sold “AS IS, WHERE IS”. Mecum makes no representation and extends no warranty, express or implied, respecting any Lot’s condition, genuineness, value, and/or quality. MECUM HAS NOT INDEPENDENTLY INSPECTED OR TESTED THE LOT AND HAS NO KNOWLEDGE OF THE LOT’S HISTORY OR CONDITION.
What is the Mecum auction rule?
Mecum Auctions
Mecum rule: if you raise your own bid to meet the reserve, the car is yours!
Why do they push cars at Mecum?
Multiple reasons. At the owners request as many are very finicky about who drives the car and when. Some are very loud. Some are manual transmissions and the owners don’t want someone clutching the car.
Who pays Mecum commission?
Mecum Auctions pays the seller when payment is received and confirmed from the buyer. In the event of a Wire Transfer, payment may not arrive until the first business day after the auction. Seller checks are then mailed within 5-7 business days.
What’s the difference between Mecum and Barrett Jackson?
Mecum is a reserve type auction and as a result some cars do not meet the consignor’s reserve and go unsold. Barrett-Jackson differs from Mecum’s in that it places reserves on only very few high value cars and as a result Barrett-Jackson’s sell through is in the 98% range.
What is Dana Mecum worth?
Dana Mecum is an American businessman who has a net worth of $50 million. Dana earned his fortune as the founder of the car auction company, Mecum Auctions. Today Mecum Auctions is one of the largest antique, vintage, and collector car and motorcycle auction businesses in the world.
Are Mecum auction cars good?
An absolute scam! They fancy it up with all sorts of glitter and glam on TV but most of these cars have something wrong with them. Otherwise they wouldn’t be at an auction where everything is sold as is. Also people get into a bidding war and pay more than what the car is worth.
What is the buyers premium at Mecum?
While the buyer’s premium can depend on the event, the premium for the Mecum Las Vegas motorcycle auction is: 10% standard premium at the event. 12% buyer’s premium for phone and internet bids. 3% credit card surcharge.
How much do Mecum auctioneers make?
They also earned higher incomes in the District of Columbia, California and Connecticut at $53,000, $51,000 and $50,000 per year, respectively. Auctioneers in Florida earned incomes closer to the industry average at $44,000 annually. Those in Oklahoma and Nebraska made $43,000 and $37,000, respectively.
How much money does Mecum Auctions make?
Mecum Auctions is pleased to report resounding live auction success for calendar year 2021, resulting in $578 million in total sales with a 90% overall sell-through rate—the highest annual total ever achieved by a U.S. domestic-based live collector car auction company, and the highest total achieved in the entire
Where is the next Mecum auction in 2021?
The event will now take place April 28-May 1, 2021, and due to scheduling conflicts at South Point, the auction will now take place at the Las Vegas Convention Center. All current consignment positions and bidder registrations will remain active and in place.
Can anyone go to Mecum?
Auctions are general admission (festival seating) and seats are available to Daily Ticket holders strictly on a first-come, first-served basis.
Does Mecum have financing?
Mecum Financial Services
And whether you’ve got a need for speed or you live for the chase, a little extra horsepower is always a good thing. With a loan from one of Mecum Financial Services’ lending institution partners, you can bore out your bankroll and bid with an extra boost.
Can you inspect cars at Mecum?
Expert Auto Appraisals will be at the Mecum Orlando Summer Classic performing our inspection and and appraisal services. We can statically inspect all aspects of the vehicle. Always provided is a full suite of photos of the entire vehicle.
Can you finance at Mecum auction?
As a one-stop-shop, Mecum offers amenities that range from financing options, to auto transport services and even ownership transfer of purchases including title transfer, completion of state-mandated forms and more.
How much does Barrett Jackson charge for car sales?
Once lot number is decided upon, you will sign for the payment of the 8-percent seller’s commission fee (this is for cars sold at No Reserve) and the payment of the entry fee. After this, you will submit the vehicle’s official title.
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