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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 ...
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.
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 ]
The car was auctioned off by Mecum Auctions in St. Charles, Illinois on 17 September 2012, for $35,000. [31] Proceeds went to the Japanese Red Cross to aid victims of the 2011 TÅhoku earthquake and tsunami .
In auctions, the buyer's premium is a charge in addition to the hammer price (i.e. the winning bid announced) of an auction item, or lot. The winning bidder is required to pay both the hammer price and the percentage of that price called for by the buyer's premium.
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.
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.
In the basic model of optimal auction design developed by Roger Myerson (1981), the optimal reservation price (i.e., the smallest admissible bid) is independent of the number of bidders. [8] This basic model of optimal auction design assumes that the bidder's type is known; that is, the seller has asked the potential buyers what their value ...