Vegas Auctions

[sirhrmechanic]

^^^^

And you end up 'paying yourself.' But you ALSO pay the buyers and sellers fees that can end up at 30 percent or more of the bike's price. It's another way that you need to be careful with auctions.

The Barrett Jackson auctions have a LOT of this going on. Along with about a 20 percent 'no sale' rate. Hammer falls, but bidder decides to default and walk out on his deposit, rather than pay the hyper-inflated price the item made in the heat of the camera lights. They get their moment in the sun for the price of a deposit and don't end up with a $300K former Rental car Mustang or some silliness.

Cheers,

Sirhr

[c.o.]

More Vegas thoughts...

http://thevintagent.blogspot.com/201...12-trends.html


http://thevintagent.blogspot.com/201...merica-rm.html The original paint Cleveland is awesome!!!!

[sirhrmechanic]

Very nicely done report and I think he hit virtually every nail on the head. I was not aware of the takeover rumors. Interesting, but not surprising.

Of note, in the antique car world, we have seen a massive influx of $ into the 'investment grade' vehicles. These are the beautiful, the rare, the one-off, the original... the stuff that never goes down in price, but also rarely goes 'bubble.' Simply put, these days the return on tangible assets is greater and safer than the return on paper assets or liquid cash. A vintage Bentley might as well be gold... and Bernie Madoff (sp?) can't drive off in it.

Vintage bikes are no exception to this... the same with high end firearms (have you looked at Colt, Purdy or Winchester prices lately), or watches, etc. Certain bikes have a cachet to them that lets them maintain their value through thick and thin. And if the dollar loses value, the price of the asset just goes up... It's intrinsic value doesn't seem to go away and there is almost always a market for it.

This state of affairs always sparks passion in the collector community as 'average Joe's' can get priced out of the market and bikes disappear into collections. I know I won't be buying a Brough Superior now or ever... And it is a shame when bikes, cars, etc. get squirreled away in 'investment' collections that don't get ridden, shown, shared, etc. I am a huge believer in "Ride 'em don't Hide 'em". It is also unfortunate that sometimes young or less-financially-endowed enthusiasts struggle to enter the hobby. There is no real answer to this... as market forces will continue to be market forces.

That said, I am also a big believer in the 'where there's a will, there's a way' philosophy and my small collection of bikes is a tribute to sweat equity and turning non-runners and neglected machines into 'riders' for short money. I never thought I would have a Knucklehead... but thanks to a bike that noone else seemed to want, a bit of vision, elbow grease and a lot of weekends and time invested, I have one that I am very proud of. So it's possible, even in a market that appears to be un-enterable to get the bike you want. You just may have to work harder at it.

I'd also point out that these things are still turning up in barns. Dozens a year. And not just bikes. Not a month goes by when we don't get a call about a 'barn find' or 'garage find' or 'warehouse find' Rolls-Royce or Bentley. Just miles from us, a friend bought a 1920's Cadillac... with a SKI conversion kit for winter use. This car was as-new, complete preservation car. Covered and in a barn since 1931.

One would think that every crevice in America has been scoured clean by now. But I don't think we've even scratched the surface.

For those who haven't read it, the old "Easyriders Publications" book "Half-Priced Harley" was one of the best guides I ever read when it came to acquiring interesting old vehicles. And to putting them together. Yes, the technical information is a bit dated and when I first read it in 1989 or so, a lot more original parts were readily available (I used to order vintage stuff right off the shelf from Tilly HD in, I think, Statesville, NC. And Wilkins HD in Vermont had parts dating back to the '40s.). But the advice and concepts are something that every aspiring vintage bike restorer/owner/rider should at least read.

Just some caffeine-fueled thoughts for a Saturday morning. I really need to cut down.

Cheers,

Sirhr

[BPK!!]

Cory--Thanks for the Vintagent blog link! Found it very interesting-appreciate you digging it out and sharing the fruits of your labor--BPK!!

[c.o.]

Cory--Thanks for the Vintagent blog link! Found it very interesting-appreciate you digging it out and sharing the fruits of your labor--BPK!!

No problem BPK!!! I thought it was relevant to the thread and it really doesn't take much effort....