rananim
Well-known member
We returned from our second (and last) shot at the Reno auction. The rumors of lower prices seem to be true, with seasoned observers saying they were down about 20%. Our car was down $8,000 from last year, with the best bid coming in at $24,000. There seemed to be a lot of interest, with a number of people taking photos and calling someone else about the car as we approached the ramp, but the bidding fell flat. We were willing to take 30k to avoid having to trailer it back to San Diego. Too bad the effusive compliments didn't translate into cash.
The high end cars seemed to be absent, as were the bidders. In the past, people would take out equity in their homes before coming to auction, creating some competition for those who actually had money. Those who were bidding last week were bargain hunters.
Incidently, a red GT500KR had a high bid of $99,000 (no sale) where last year a green GT500 (not KR) had a bid that was almost twice that.
We will start advertising, where we hadn't before, but are prepared to wait it out.
Rananim
The high end cars seemed to be absent, as were the bidders. In the past, people would take out equity in their homes before coming to auction, creating some competition for those who actually had money. Those who were bidding last week were bargain hunters.
Incidently, a red GT500KR had a high bid of $99,000 (no sale) where last year a green GT500 (not KR) had a bid that was almost twice that.
We will start advertising, where we hadn't before, but are prepared to wait it out.
Rananim
