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Mecum Auctions was founded in 1988 by Dana Mecum, [1] a car enthusiast whose father operated a dealership in Marengo, Illinois. [2] [3] Dana Mecum initially bought 40 semi-trailer trucks in the 1980s, and traded 10 of them for four houses which he rented out. According to him, "The tenants started calling me in the middle of the night to fix ...
Mecum Dealmakers is an American reality program airing on NBCSN. The series takes a behind-the-scenes look at Mecum Auctions , America's biggest collectable car auction facility. Each episode features a specific auction, focusing on the unique and collectable automobiles in each auction. [ 1 ]
This is a list of the most expensive cars sold in public auto auctions through the traditional bidding process.. On May 5, 2022, in a secret auction at the brand's museum in Germany, Mercedes-Benz sold one of just two 1955 300 SLR Uhlenhaut coupes from its extensive collection of historical automobiles—which dates back to the earliest days of the car in the late 19th century.
Major auction houses have levied the buyer's premium for several decades, particularly in fine art auctions, with percentages in the region of 10–30%. [2] In real estate auctions in many European countries, the buyer's premium, if charged at all, is much less (2–2.5%). More recently in the UK, however, repossessed properties have been ...
Mecum Auctions operates two private jets: N33BW, a 2001 Cessna 525A CitationJet 2+ and N50LD, a 2001 Bombardier LearJet 60. The registration N50LD represents the word "SOLD," a nod to the company's purpose of selling items at auctions.
The Scottsdale auction is held each January and is considered the flagship event. The auctions are open to the public with an admission fee. Barrett-Jackson auctions typically feature celebrity owned vehicles or those featured in films, and some vehicles are auctioned to benefit various charities. Automotive memorabilia is also auctioned as well.
A dealer auto auction is a specialized form of auction. Millions of vehicles are sold at such dealer auto auctions every year. These auctions are restricted to the general public and only licensed dealers can participate. Prices of vehicles sold at dealer auctions tend to be lower than those advertised on any dealer's lot.
A no-reserve auction (NR), also known as an absolute auction, is an auction in which the item for sale will be sold regardless of price. [1] [2]From the seller's perspective, advertising an auction as having no reserve price can be desirable (but risky) because it potentially attracts a greater number of bidders due to the possibility of a bargain. [1]