Russo and Steele auction - Page 5

**rich p** · #41 02-20-2008, 04:09 PM

How much time do you guys think they would need to auction off 500+ cars if they started bids at 0 ?? I have talked about this reserve auctions before and you guys think im talking out my A%^. I cant believe how many are confused about how they work on reserve auctions and E-BAY !!!

Their's Hero's and their is Zero's !!

Its funny both cases sounds like they got more money then expected and they are CRYING !!!! GREED !!!

gtomike1966 · #42 02-20-2008, 05:56 PM

The auction house is an agent for the seller of the car. You would expect the auction house to do everything possible to sell your car at the price you want, isnt that what your paying them for?
Im pretty sure that people put thier cars up for auction because they believe they will get a premium price for it, why else would you pay the high fees?
With that being said I can sorta agree with what RS is saying but it still just doesnt "feel" right

Udon\'tgetit · #43 02-20-2008, 05:56 PM

What does it matter if this is the car. He bought the car legally and now this seller is crying over his mistake. Obviously this guy was only doing what everybody else does at auctions and that is buying what he wanted.

GRB · #44 02-20-2008, 06:03 PM

If the auction houses do not disclose to 'the buyers' that they may pay more for a car because they were bidding against the house that is wrong. If the auction house does indeed buy the car that's different. Otherwise it's fraud and cast a shadow of doubt on the whole business.

burnsy26 · #45 02-20-2008, 06:53 PM

[ QUOTE ]
Nothing is worse than “working to get the reserve for a seller” only to have him “pull your shorts down” as he lifts his reserve on the block at $245,000 – for $65K less! This occurred in this instance when the above contract clause was being utilized on BEHALF of the seller in an attempt to get the seller what he said he wanted. If indeed he was wiling to take a substantial amount less, than there is only two reasons why he “shot high” on the reserve; 1) to “make us work harder” to sell the car. Anyone who has been to my auction knows this is impossible to do, since my gang works the hardest of any on the planet. 2) to have a high reserve to allow the seller to “grind” a negotiation on the block for less than the stated 10% reserve. In all my years of doing this, these are the ONLY two reasons, all others are delusions.

[/ QUOTE ]

I am owner of the Boss 429. It is very interesting to me that Mr. Alcazar knew my mind set before I reached the auction block that night. It is also interesting to see that his comments and opinions about my state of mind before and on the block have made it to a public forum.

I find it interesting only because my partner and I were told by Mr. Alcazar that if we said anything in a public forum regarding this situation that "a ton of bricks would come down" on us. To this end I have posted nothing but facts. I posted a video of what happened to my car and let people who watched it from their own opinions.

[ QUOTE ]
Similar to when a Cop pulls you over for doing 105 mph on the freeway, the excuse of “I did not know” will not get you out of the ticket.

[/ QUOTE ]

This quote also got my attention. I guess Mr. Alcazar is reffering to me not thoroughly reading and understading my contract. But, it is acceptable for him when he doesn't know who is working for him when it comes to bids. Maybe he forgot that is what he told me when he let me know the car did not sell.

[ QUOTE ]
As I have run out of cheese and crackers, this will be my last post, I just do not have any left or the “whine”.

[/ QUOTE ]

I leave with one question. When the gentleman that bid $250,000 the first time the white 1969 Boss 429 went across the block and then decided not to pay, did that cause Mr. Alcazar to "whine"?

Just like anything in life, it depends on whose shoes you are standing in.

Chris Burns
Santa Barbara Muscle Cars
www.santabarbaramusclecars.com

Udon\'tgetit · #46 02-20-2008, 07:22 PM

You know, this guy states that he never knew his contract has $100,000 as the reserve, but please notice, he signed this in November. How long does it take a person to realize a mistake?

69LM1 · #47 02-20-2008, 07:30 PM

[ QUOTE ]
You know, this guy states that he never knew his contract has $100,000 as the reserve, but please notice, he signed this in November. How long does it take a person to realize a mistake?

[/ QUOTE ]

Two different cars. I think everyone reasonable can agree that if you sign a contract for 100k, you should live with that.

HOWEVER, from what I read here, this guy is the BOSS429 guy, who agreed to allow RS to lower his reserve, and the car sold. BUT,it turns out that RS did not communicate with their "shill" bidders that the reserve was lower. Thus, resulting in RS "winning" the BOSS429.

Seems to me like it's Mr. Drew whos the one "whining" now.....

IMO, RS should have "manned up" and made their mistake right.

Also seems like the practice of changing the contract arraingements on the block is one big mess.........

ChevyThunder · #48 02-20-2008, 08:09 PM

Can R & S really have it both ways? Do I understand this situation correctly ?
If you allow for a reserve to be lowered and you accept the lowered reserve yet fail to communicate to your employee ( the hardest working gang in the business)that the reserve is lowered and then your employee is bidding in the capacity to create action up to the reserve yet bids passed the reserve and becomes the high bidder , then you own the car! You can't split hairs here. Of course if it does say on the contract " If we accidently bid your car passed the reserve and become the final bid we reserve the right to tell you sorry we made a mistake" Well then I guess it is OK

BUIZILLA · #49 02-20-2008, 08:25 PM

help me out here, i'm not the sharpest stick in the pile...

if I travel across country, prove my credibility and value worthiness to be able to bid, and then unknowingly may be bidding against a $10 hour day laborer who can't buy a Geo Metro on credit, and this is acceptable behavior of certain auction houses??

please, tell me i'm wrong..

please..

**TDW** · #50 02-20-2008, 08:32 PM

[ QUOTE ]
help me out here, i'm not the sharpest stick in the pile...

if I travel across country, prove my credibility and value worthiness to be able to bid, and then unknowingly may be bidding against a $10 hour day laborer who can't buy a Geo Metro on credit, and this is acceptable behavior of certain auction houses??

please, tell me i'm wrong..

please..

[/ QUOTE ]

You aint wrong from what I have read here so far.