Goodbye, 2020!

This year has been exhausting.  Many started the year thinking we’d get everything we wanted in 2020;  instead, it’s turned out that 2020 is the year we deeply appreciate what we have.  Collectively we’re having our perspectives recalibrated. 

Happy New Year, all - may 2021 bring you happiness, joy and success!

#newyear #cars #autos 

The Great Pause

The treadmill we’ve been on has suddenly stopped. The feeling most of us have right now is the same as if we’d been thrown off of our bicycle and onto the ground: What in the hell just happened?

What happened is inexplicably incredible - it’s the greatest gift ever in some regards.  I’m not referring to the virus, the loss of precious life, or the skyrocketing unemployment.  I'm referring to “The Great Pause.”

It is profound.  At least in my opinion.

This crisis has given us is a once-in-a-lifetime chance to see ourselves and our country in the plainest of views.  At no other time have we had the opportunity to see what would happen if the world simply STOPPED.

Well, here it is.

Stores are closed, restaurants are empty, and highways barren. And because the occurrence is rarer than rare, it has brought to light all of the beautiful (and painful) truths of how we live. And it feels weird - really weird. Twilight Zone-ish.

If we want to create a better country and a better world for our kids, and ensure we are even sustainable as a nation, I believe we have to pay attention to how we feel right now.  I suspect you feel similarly to myself:  devastated and heartbroken.  Living in a surreal, altered reality. I’m also somewhat terrified that my survival is linked to the common sense of others, but I digress...

I anxiously await the day our world returns to some semblance of normalcy, whatever that new norm may be.  In the interim, hang on - this is going to be a really bumpy ride, but I’m trying to remain optimistic that we’ll all come out stronger as a result.

Care for one another, and take care of yourselves.

Forecasting a Collector Car's Value at Auction

    Forecasting emotion-based transactions in an auction setting can be extremely challenging.  For example, based upon comps, my team and I analyzed and estimated a vehicles’ base value at $140,000 (auction setting).  The vehicle was concours-restored and in excellent condition, and was to be auctioned off without a reserve.  However, given it was serial #1 of 484 built, it is near impossible to place an additional value on this aspect of its pedigree; as such, we remained steadfast with the base value estimate.  Two bidders entered a bidding war, and the car hammered at $325,000, setting a world record for the marque.

   Obviously it doesn't always go this well. As a seasoned veteran of flipping cars, I have made and lost money at auction: at times within a matter of hours. The collector car market is ever-changing, tastes can vary, and - at times - the market can be fickle.

   In addition, significant time is spent carefully managing expectations of a seller; irrespective of whether the car is being offered with a reserve, or selling "no reserve” at auction.  Just because an owner witnessed a vehicle sell for $XXX,XXX doesn’t necessarily mean that their vehicle will come close to this range and that history will repeat itself in the same – or similar setting.  Condition, originality, color, and especially pedigree can make a significant impact on value, just as it did in the aforementioned example. 

   If you’re considering consignment to auction and would like advice in regards to its value, feel free to reach out;  I’m happy to provide some industry insight at no cost.  Please ensure you provide photos of the interior, exterior, and engine bay, as well as a description, and email to me at:  muffy@muffybennett.com