GLH

The fees are 10% over the price for the buyer and 10% for the seller out of the selling price.

You also have to pay for placement but that is less "defined". I have this information from a VT friend that sold the "Jebb Klanpett" truck for $125k on Friday. And is very familiar with these auctions.

So if we look at this for the MTI... $485k
-Means Seller paid $48.5k cut from $485k selling price.
-Buyer paid $48.5k over the $485k forking out $533.5

If it said the buyer bought it back for $500k something is fishy, why would the buyer instantly want to loose $33.5k guys who have those means do not make decisions like that (not for long anyway).

Maybe they had an arragement with Barret Jackson on the fees if it did not make a certain amount. I am positive BJ wanted the publicity around the boat... it got a lot of us to watch that would otherwise not have tuned in.

FunHome

Yea, I saw the first guy in the Sky box was a little mad about something when the hammer dropped the first time. Who ended up with it?? The guy that was bidding against the sky box bidder that was standing on the floor in the brown jacket??

RunninHotRacing163.1

[QUOTE=GLH;2413741]The fees are 10% over the price for the buyer and 10% for the seller out of the selling price.

The fees are 10% over the price for the buyer and 8% for the seller out of the selling price and 12% internet buyer fee .. Thats what i was told bt BJ and was bidding on a few cars thru the internet this week and missed the 1 owner gold gto this afternoon that was a steal at 35K
Guys buy there chit back at auctions all the time if they dont want to take the hit and dont need the $$$$$$$$$$$$$

BattleCry

With fully televised auctions and even local auctions, you have to watch very carefully who you are bidding against. Its one of the most important things about bidding at auctions. If you watch very carefully, the auctioneer sometimes pulls bids on you. Meaning that, the auctioneer will look somewhere else and get a fictitious bid out of thin air to pump the bid up on you. It happened a lot at B-J and it happens everywhere. Spanky Lasiter is famous for it. That's is why you have to pay attention at auctions. Now IF I had just bought a boat at a significant discount, at an ABSOLUTE NO-RESERVE AUCTION and the hammer had dropped, I signed the ticket, and they tell me that I didn't get it. The Fury would have been brought to Barrett-Jackson. The word SCANDAL comes to mind. Something sounds fishy, as it always does, when someone doesn't get as much money as they think they should.

Good Luck to all those involved and be careful to watch who you're bidding against at auctions. It may be no one at all.

buck183

[QUOTE=RunninHotRacing158;2414128]This is correct. Buyer pays 10% and seller pays 8%. My local guy had three cars there this past week and that's what he paid.

Buck

Velocity Vector

iTrader: (4)

The same is on ebay, you win a no reserve auction, contact the seller and they tell you it sold locally so your bid doesn't count. Then the next day you see the same item back on ebay seller saying the winner never contacted them or sent a deposit.