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How much does a buyer pay at Mecum?

How much does a buyer pay at Mecum?

While the buyer’s premium can depend on the event, the premium for the Mecum Las Vegas motorcycle auction is: 10% standard premium at the event. 12% buyer’s premium for phone and internet bids. 3% credit card surcharge.

How much does the seller pay at Mecum?

Mecum will also quote you for vehicle transportation to the auction site if you desire. If your car does sell, great, but know that you’ll pay a seller’s commission—5 percent of hammer price without reserve, 10 percent with a $1,000 minimum on eight of the auction’s 11 days.

What percentage does Mecum charge?

At our auctions, these entries really do stand out and garner additional attention from bidders. They also benefit by receiving a reduced commission rate, as the standard 10% seller’s commission with a reserve is reduced to 6% for no-reserve entries.

Do you have to pay to bid at Mecum?

Daily tickets are $20 each when purchased online prior to the auction start. After the auction has started, Daily tickets purchased online are $30 each. Daily tickets sold at the gate are $30 each. At all auctions, children 12 and younger are admitted free of charge.

Is Barrett Jackson or Mecum better?

Winner: Mecum. You could buy a lot of cheap beer with that extra $19,000. The bottom line is that both Mecum and Barrett-Jackson’s January events are gargantuan enough to feature bargains and eyebrow-raising high-dollar sales.

Can anyone bid at Mecum Auctions?

Mecum auctions are family-friendly events open to buyers, sellers and spectators making them easily accessible for everyone to enjoy, and there are many different options for getting in on the auction action.

How much is Dana Mecum worth?

Dana Mecum is an American businessman who has a net worth of $50 million. Dana earned his fortune as the founder of the car auction company, Mecum Auctions. Today Mecum Auctions is one of the largest antique, vintage, and collector car and motorcycle auction businesses in the world.

What is the Mecum rule?

Mecum rule: if you raise your own bid to meet the reserve, the car is yours!

Does Dana Mecum have a car collection?

But Mecum isn’t just any car guy. His company auctions more collectible autos than any other in the world at 14 annual events across the U.S., including a monster 3,000-car, 10-day, $100 million extravaganza each January in Kissimmee, Florida.

Do bidders see the reserve price?

A reserve price is the lowest price you’re willing to sell an item for. Bidders can’t see the reserve price, but they’ll see whether it has been met.