05-20-2018, 05:44 AM | #1 |
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M2 at Mecum
https://www.mecum.com/lots/SC0518-339778/2017-bmw-m2/
Got to $60,000 and went to the Bid Goes On desk. Thought $60k was strong money.
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05-20-2018, 07:13 AM | #2 |
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You’re right - that is strong money for what a lot of people would view as a year-old, used M2 with limited desireability because of its equipment. Just being a parts bin “special edition” doesn’t raise its value.
It’s a desireable car, but only for a special type of buyer. Plus, the seller only would have netted around $53-54K at that price, which likely is not what he was expecting. |
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05-20-2018, 07:48 AM | #3 |
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@ Mecum, the buyer pays the commission, which is 10% live or 12% over the phone\internet. That makes this a $66,000 M2. That's pretty steep.
https://www.mecum.com/auctions/indianapolis-2018/ The seller pays a placement charge of $350 to $1500 (for this event) with plenty of add ons available. https://www.mecum.com/consignments/?auctionID=SC0518 I used to hit the auction in Kissimmee every year (and even bid a few times when registration was free), but decided I like the Rolex24 better. They're typically on the same weekend. I was thinking this was a PE, but hard to tell from the pics. I don't think it is as the climate control looks standard and it looks like it has the exec pkg from the view showing the backup cam display. Still fun to see it roll across the stage, I'm sure.
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05-20-2018, 08:10 AM | #4 |
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I don’t believe it’s a PE, either - just an M2 with Executive Package and a bunch of add-ons.
BTW, the Position Request Form for sellers at his other auctions like Denver and Portland (the Indy form is no longer available) includes this language: “Vehicle Seller’s Commission: 10% of hammer price when sold with reserve price. 5% of hammer price when sold without reserve price. Minimum commission of $500. Commission only applies if the seller accepts the last bid.” Does the Mecum Indy event operate under different rules? |
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05-20-2018, 11:39 AM | #7 |
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Didn't take $60 K? That's nuts, even after considering the auction fees.
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05-22-2018, 08:42 AM | #8 | |
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Quote:
$66k is a ridiculous price. |
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