How much does it cost to get into Mecum auction?
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.
Can anyone buy 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.
What percentage does Mecum take?
Vehicles/Motorcycles:
| In Person | 10% |
|---|---|
| Telephone | 12% |
| Internet | 12% |
Who pays fees at Mecum auction?
the seller
Mecum Auctions pays the seller when payment is received and confirmed from the buyer. In the event of a Wire Transfer, payment may not arrive until the first business day after the auction. Seller checks are then mailed within 5-7 business days.
What is the Mecum rule?
Mecum rule: if you raise your own bid to meet the reserve, the car is yours!
How does Mecum Auction make money?
In addition to the entry fee, Mecum Auction charges a commission for sellers. There is a minimum commission of $125 to $650 depending on your motorcycle’s position. The commission is 10% of the hammer price if you have a reserve price which applies if you accept the last bid.
Where is the next Mecum auction in 2021?
the Las Vegas Convention Center
The event will now take place April 28-May 1, 2021, and due to scheduling conflicts at South Point, the auction will now take place at the Las Vegas Convention Center. All current consignment positions and bidder registrations will remain active and in place.
What is the buyer’s premium in an auction?
No one was able to resist the lure of these “extra” dollars. For those unfamiliar with the auction buyer’s premium, it is a fixed fee charged to a successful bidder at an auction, on top of the amount bid. The most common rate is 10 percent. For example, when you bid $100, you actually pay $110.
What percent does Barrett-Jackson charge?
(B) Should Buyer default upon his purchase in any manner, for any reason, Buyer agrees to pay Barrett-Jackson the full sum of both the buyer’s premium 15% of sale price live (17% absentee/internet) and seller’s commission (15% of sale price).
What 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’s the difference between Mecum and Barrett-Jackson?
Barrett-Jackson differs from Mecum’s in that it places reserves on only very few high value cars and as a result Barrett-Jackson’s sell through is in the 98% range. So looking at the number of cars sold the nod goes to Mecum’s with 1,811 cars sold, 35% more than their Scottsdale rival Barrett-Jackson who sold 1,343.
Who is Frank Mecum?
Today, Frank is Mecum’s Vice President of Consignments and Dana’s right-hand-man on the auction floor as a seller’s representative. He is instrumental in closing the big deals and getting both the buyers and sellers where they want to be.
