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Author Topic: Michael Jackson's Bus up for auction  (Read 5135 times)
Sean
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« Reply #15 on: April 02, 2009, 10:27:34 AM »

OMG! These idiots are charging a 25% buyers premium on the auction!!


Craig,  I don't think that's all that unreasonable.  Barrett-Jackson, for example, tops out at %17 for the same sorts of items, and Julien's is charging only 20% on bids above $49,000.

If you had to deal with Jackson, you'd charge extra, too.  The guy's a jerk -- he's already threatened to sue Julien's over contract issues that he himself created.  Personally, I wouldn't touch his business on a bet, so I am not surprised at all that Julien's wouldn't do it for less than 20-25%.

Bidder's premiums are just one of those unavoidable annoyances of the auction world (speaking as a long-time permanent paddle holder at Nationwide's).  You just have to mentally subtract it from your "limit" for any given lot before raising your paddle.  In which case, I prefer percentages that are easy to figure on-the-fly, like 10% or even 25% (I know how to calculate "a quarter" pretty quickly), rather than obscure percentages that require more mental gymnastics, like 14%.

FWIW.

-Sean
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« Reply #16 on: April 02, 2009, 10:44:53 AM »

I think MJ's original plan was to haul Cub Scout's around in it. I heard he once had a "pack a day" habit!! I guess you could call me a hick however. I thought those bidets were drinking fountains!!  Wink
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« Reply #17 on: April 02, 2009, 12:08:37 PM »

OMG! These idiots are charging a 25% buyers premium on the auction!!


Craig,  I don't think that's all that unreasonable.  Barrett-Jackson, for example, tops out at %17 for the same sorts of items, and Julien's is charging only 20% on bids above $49,000.

If you had to deal with Jackson, you'd charge extra, too.  The guy's a jerk -- he's already threatened to sue Julien's over contract issues that he himself created.  Personally, I wouldn't touch his business on a bet, so I am not surprised at all that Julien's wouldn't do it for less than 20-25%.

Bidder's premiums are just one of those unavoidable annoyances of the auction world (speaking as a long-time permanent paddle holder at Nationwide's).  You just have to mentally subtract it from your "limit" for any given lot before raising your paddle.  In which case, I prefer percentages that are easy to figure on-the-fly, like 10% or even 25% (I know how to calculate "a quarter" pretty quickly), rather than obscure percentages that require more mental gymnastics, like 14%.

FWIW.

-Sean
http://http://OurOdyssey.BlogSpot.com



Hi Sean,

Barratt Jackson gets the cut on both ends... Buyers and Sellers premiums. If I remember correctly it's 17% on the seller and 15% on the buyer.

No Dummies in that company! Undecided
Nick-
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« Reply #18 on: April 02, 2009, 04:01:04 PM »

Barratt Jackson gets the cut on both ends... Buyers and Sellers premiums. If I remember correctly it's 17% on the seller and 15% on the buyer.

I looked up what B-J charges and it is 10% for the buyer and 8% for the seller.  I never even knew the seller as well as the buyer paid B-J.

20% premium for the buyer still seems awful steep for the Michael Jackson auction especially if Jackson is kicking in something too.
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« Reply #19 on: April 02, 2009, 04:19:33 PM »

It kind of makes sense.  Auction houses are essentially retailers as far as their role in the buy/sell relationship.  Even discount retailers generally demand 25% gross margin (50% markup) and higher with some departments well over 50% gross margin (100% markup).
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Gary '79 5C
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« Reply #20 on: April 02, 2009, 05:19:19 PM »

Two observations,

Sean, I cring looking at the front end extension beyond the front axle.  WOW, I can hear it and feel the pavement thru the floorboards on my feet.

Also this is a far cry and alot better looking coach than the first (200) the Arab's purchased back in 1979 from MCI.....
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« Reply #21 on: April 02, 2009, 05:25:36 PM »

I want my MCI to look that good. I think I can, I think I can.......
All the Best,M&C
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« Reply #22 on: April 02, 2009, 05:55:28 PM »

I think I would want to put some serious rollers under the front bumper.
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« Reply #23 on: April 02, 2009, 08:37:55 PM »

Of course we know what a bidet is for. It's where you dump your waste oil.
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« Reply #24 on: April 02, 2009, 10:04:42 PM »

Does anyone have a good idea or guess what this thing would weigh?  My sold Crown had some alarming estimated curb weights with some of the planned conversion formats.  Also, in my opinion, I don't think one could buy enough Clorex!  Right hand, left hand?  It must be nice to be that rich. HB of CJ Smiley Smiley Smiley

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Sean
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« Reply #25 on: April 02, 2009, 10:12:50 PM »

Does anyone have a good idea or guess what this thing would weigh?


46,000-50,000 lbs, give or take.

Mine weighs in at 47,000, and it's 5' shorter.

-Sean
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« Reply #26 on: April 02, 2009, 10:34:56 PM »

Yeah!  Me too!  I want a "bidet" I am one of the Americans that Sean is talking about.  Have not a clue.  I want and also own a lot of stuff i am not exactly clear on.

John
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Nick Badame Refrig/ACC
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« Reply #27 on: April 03, 2009, 05:13:21 PM »

Hi Guy's,

I saw an interview on NBC today that had a represenative from Julians Auctions talking about MJs' items.

The guy was talking about the estimated values being very low to draw attention to the items for auction.

This just might mean these items may sell far above their estimate... Do ya think? Wink

Nick-
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« Reply #28 on: April 04, 2009, 09:08:11 AM »

Of course we know what a bidet is for. It's where you dump your waste oil.

No, a bidet is the dog's drinking fountain.

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