The cost to be a bidder at Mecum Auto Auctions can vary depending on the auction location, as well as which vehicles you would like to bid on. Generally, the general admission for each auction is free, however, there is a bidder registration fee of $100 for the first vehicle auction that you attend.
If you are an experienced bidder, Mecum also offers you an Elite Bidder program, which requires a yearly fee of $500 to get unlimited registrations for the year and access to exclusive Elite Bidder events, premium seating and discounted admission for family members.
Additionally, when bidding, you’ll be required to put down a $100 deposit per item, or if you’d like to bid online, you’ll need to provide a credit card authorization form in order to have access to online bidding.
If you’d like to buy multiple vehicles, it’s best to consult with a Mecum representative, as they have different terms and conditions regarding payment that could save you time and money.
Does it cost anything to bid at Mecum auction?
Yes, it does cost money to bid at Mecum auction. Bidding fees start at $100 for the first vehicle you purchase, and increase in increments of $100 for each additional vehicle. These fees are nonrefundable regardless of whether or not your bid is successful.
An additional buyer’s fee will also be added to the final purchase price of any vehicles won. This fee is 5% of the final purchase price on vehicles with a sale price of up to $50,000, and it increases to 10% for vehicles with higher sale prices.
Additionally, a $30 Title and Transfer Fee will be added to each purchase.
Finally, all vehicles must be paid for within three business days of when the vehicle was won. Payment must be made using cash, cashier’s check, or direct bank wire transfer.
Does Mecum charge a buyers fee?
Yes, Mecum does charge a buyers fee. The fee is based on the final bid price, with the amount ranging from 8% to 5%. For vehicles that sell at or above $25,000, the fee is 8% up to $100,000 and 5% greater than $100,000.
For vehicles that sell at or below $25,000, the fee is 10% up to $100,000 and 5% greater than $100,000. For example, if a vehicle sold for $40,000, the buyers fee would be 8%. If a vehicle sold for $150,000, the buyers fee would be 5%.
There may also be additional fees depending on where the vehicle was purchased from, such as a consignor fee. It is important to review the terms and conditions of any sale as fees can vary depending on the situation.
Can anyone attend a Mecum auto auction?
Yes, anyone can attend a Mecum auto auction. Mecum Auctions provides the opportunity for all spectators, car collectors, and buyers to view and purchase from a selection of many makes and models available at their scheduled auctions.
Upon arrival to an auction location, anyone can purchase a bidder badge to become a registered bidder to participate in the bidding process. Spectators may also attend for free and enjoy the excitement of the auction without bidding on any vehicles.
Guests have the opportunity to view some of the most sought-after classic, antique, vintage, muscle, and other types of vehicles. Mecum Auctions also offers private previews and vehicle inspections that allow viewers to inspect cars up close and become more familiar with their condition prior to bidding.
In addition to the traditional live auction, Mecum Auctions also offers an online auction option. With this option, anyone can purchase vehicles online with no registration fee and no additional buyer’s fee.
How much is a bidders pass at Mecum?
The cost of a bidders pass at Mecum depends on a few different factors. The first factor is the location and duration of the event. Single day, multi-day and entire event passes vary in cost accordingly.
Additionally, depending on the type of pass you want, fees can range from $50 to $200. For example, a multi-day bidder’s pass for Mecum’s Kissimmee event is $200, whereas a single day bidder’s pass for the same event is $50.
Lastly, some events may offer a discounted rate if you purchase a bidder’s pass online in advance. It’s important to keep in mind that all fees are non-refundable, so make sure you’re sure of your attendance before purchasing a pass.
What percentage does mecum charge?
Mecum Auctions charges the Seller a Fee based on the sale price of the vehicle or item being sold. Generally, the fee is 10% but can range between $500 and 18% depending on the sale price of the item sold.
Any items sold over $50,000 will typically include a 10% Fee. Buyers also pay a 10% Buyers Premium in addition to the sales price of the item. Sales taxes are also applicable where applicable.
Is Mecum auction free?
No, Mecum auction is not free. The admission fee for Mecum auction varies depending on the event – it can range from $10 to $20 per person. Children aged 12 and under, however, get in free. To register to participate in the auction, you’ll have to register as a bidder and pay a bidder’s fee which is usually $300.
Additionally, you’ll have to pay a buyer’s fee of 8% of the purchase price. Other fees and registration requirements may also apply.
Is Barrett Jackson or Mecum better?
It really depends on what kind of cars you’re interested in and what your budget is. Barrett-Jackson is known for having higher-end, collectible cars, and Mecum is known for more mid-range and project cars.
Barrett-Jackson also has higher buyer’s premiums (fees for purchasing at auction), so if you’re on a budget, Mecum might be the better choice. As far as the actual auctions, both offer fun auctions, great entertainment, and the chance to bid on a wide variety of vehicles.
Ultimately, it’s up to you to decide which one is better for you.
What is the Mecum rule?
The Mecum rule is a set of principles established by Mecum Auctions for the process of buying or selling classic and collector cars. The main goal of the Mecum rule is to create a fair and efficient marketplace for collectors and consignors.
The Mecum rule consists of five main principles, including no buyer’s premium, no seller’s fee, a 7-day initial warranty, a quality assurance program and online registration.
No Buyer’s Premium: This principle states that Mecum will not charge buyers any extra fees on top of the purchase price of the vehicle.
No Seller’s Fee: This principle states that Mecum will not charge sellers any fees or commissions once the vehicle is sold.
7-Day Initial Warranty: This principle states that, upon payment by the buyer, Mecum will provide all registered buyers a 7-day initial warranty on the vehicle they purchased.
Quality Assurance Program: This principle states that all vehicles sold through Mecum auctions must pass through a professional and extensive quality assurance program before they can be put up for sale.
Online Registration: This principle states that all buyers interested in participating in the auctions must register online. This process allows for Mecum to ensure that buyers have the necessary qualifications and financial resources to participate in the auctions.
What’s the most expensive car to ever be sold Mecum Auctions?
The most expensive car ever sold by Mecum Auctions is a 1967 Ferrari 275 GTB/4*S N. A. R. T. Spider that sold for $27. 5 million in 2013. This was one of only 10 Ferrari 275 GTB/4*S ever built and was the last example sold to the public.
The car was originally owned by businessman and philanthropist Eddie Smith, who sold it to Mecum Auctions. The car was in immaculate condition with a freshly rebuilt engine and the original transmission.
This Ferrari achieved the highest price ever paid for a the automobile at auction, and it was presented with its original owner’s manual, factory tools, and period racing photos of the car during its time on the track.
What is the most prestigious auto auction?
The most prestigious auto auction is the Gooding & Company auction. This is one of the most high-end auto auctions in the world, held annually in Pebble Beach, California. It is known for its outstanding selection of some of the most coveted and rare classic cars, as well as an impressive selection of exotic, luxury vehicles.
It also offers some of the latest models of cars, and potential buyers have the opportunity to bid on a variety of cars from different brands. Gooding & Company puts a focus on providing an exceptional experience to both buyers and sellers, with abundant amenities and services including transportation, shipping, appraisal, and more.
It is also hosted in one of the most beautiful places in the world. As such, Gooding & Company has become one of the most sought-after auto auctions today.
Which auction is bigger Mecum or Barrett-Jackson?
The answer to this question really depends on the event you’re looking at, as both Mecum and Barrett-Jackson put on many different auctions throughout the year. Generally speaking, it looks like Barrett-Jackson has larger scale events that can bring together a larger number of vehicles and bidders, while Mecum is more focused on its individual auctions.
For example, their Barrett-Jackson Scottsdale event in Arizona is the largest collector car auction in the world, drawing in more than 250,000 people to bid on over 1,500 cars. Comparatively, Mecum’s Kissimmee event in Florida is usually the largest Mecum auction of the year, with more than 3,000 cars being sold over the course of three weeks.
In terms of overall numbers, Mecum produces more vehicles for sale – but their individual auctions can typically be discussed in terms of the scale of the event, whereas Barrett-Jackson often produces some of the largest collector car auctions in the world.
What is the buyer’s fee at Barrett-Jackson?
The buyer’s fee at Barrett-Jackson is 10% of the winning bid price. This fee is subject to change based on location. For example, at the Scottsdale, Arizona event, the buyer’s fee is 10% of the sale price, up to a maximum charge of $5000.
For the Palm Beach, Florida event, the buyer’s fee is 12% up to a maximum charge of $5,000. The buyer’s fee must be paid when the winning bidder pays for their purchase. All applicable taxes, registration and licensing fees must also be paid at the time of purchase.
All applicable sale fees and any additional expenses are the responsibility of the buyer.
What are the two biggest car auctions?
The two biggest car auctions in the world are the Barrett Jackson Collector Car Auction and the Mecum Auctions.
Based in Scottsdale, Arizona, Barrett Jackson Collector Car Auction is the largest and most prestigious classic car auction in the world. Founded in 1971, the auction has grown from a one-day event to a multi-week extravaganza, with car enthusiasts descending on Scottsdale to view and bid on the some of the world’s most desirable and valuable collector cars.
From classic muscle cars and luxury cars to exotics and late-model collectibles, Barrett Jackson Collector Car Auction has something for everyone.
Mecum Auctions was established in 1988 and is a leading collector car auction house in North America, with auctions taking place in 17 cities around the country. From vintage and concours-quality collector cars to classic muscle cars, late-model cars, trucks, SUVs and more, Mecum Auctions offers something for every car enthusiast.
The auction house is perhaps best known for its Kissimmee, Florida annual event – the world’s largest collector car auction. This event features more than 3,500 vehicles and attracts more than 100,000 bidders and spectators from all across the world.
Where is the biggest car auction in the world?
The biggest car auction in the world is held atRM Sotheby’s at their global headquarters in Toronto, Canada. RM Sotheby’s has become a leader in the collector car auction world, hosting some of the world’s most iconic and valuable vintage cars.
Their auctions see cars sold to buyers all over the world, and the proceeds benefit charities around the world. In addition to their live Toronto auctions, they also hold 12-13 major auctions throughout the year in locations including London, Paris, and Amelia Island.
RM Sotheby’s auctions feature a variety of unique and special cars, taking a truly global approach to the specialty and classic car auction market. They offer buyers and sellers a range of services, from consignment and storage, to appraisals and vehicle transportation.
In addition to their classic car auctions, RM Sotheby’s also offers specialty car auctions for new and modern cars, such as their annual Pebble Beach and Monterey Auctions.
Overall, RM Sotheby’s is the largest car auction house in the world, offering buyers and sellers an incredible selection of classic, modern, and specialty cars from all over the world. Their various annual auctions draw thousands of bidders and participants, and their generous donations to charity have helped make them one of the most beloved automotive auction houses in the world.