Register to sell or buy at the world's premiere Corvette auction. More rare and expensive Corvettes, not to mention regular "drivers," have been bought and sold through this auction than anywhere else. Yet the fees are lower than other nationally recognized auctions and the service more personalized. The auctions run Friday through Sunday. However, viewing of the Feature Corvettes will take place Friday evening with sales on Saturday.
Fees charged to enter your Corvette vary according to the day, time, and display location you prefer. Sellers have the right to protect their price by setting a minimum price or reserve. Buyers and sellers pay a commission to the auction company only if a transaction occurs.
The Mecum Auction ProcessThe Mecum Auction process is simple, easy to understand, and everyone can play!
The SellerA seller (or consignor) must first contact a Mecum representative by phone or e-mail.
The consignor pays a fee to enter his car, which represents a combination marketing/entry fee, and reserves a position in the auction. At that point, he is making a commitment to enter the car in the sale.
Mecum Auction then positions the car appropriately in the sale. Positioning depends on several factors, including:
* The seller's personal needs and time schedule.* How early the car is entered prior to the auction.* The quality and value of the car.* Levels of car quality and value can usually be thought of in four groups:* Drivers: everyday collectibles* Entry level* Mid-range* Feature cars: high-profile cars such as the 1967 L88, which sold for a record price at the 2003 GoldRush Auction. These high-profile "feature cars" bring crowds, excitement, and buyers to the auction, which benefits owners of the "mid-range," "entry level" and "driver" cars as well. For this reason, feature cars receive added advertising and promotion.
When selling a car, it's beneficial to make the commitment early. As soon as you send your vehicle description and photos to Mecum Auction advertising and promotion begin. Although the traditional promotion is still part of the mix, electronic promotion instantly reaches thousands of potential buyers.
At event time, vehicle check-in times are designated. This is the time you bring your car to the sale for check-in and positioning. With Mecum Auction's "Express Check-in" service, vehicle check-in is a simple and quick process. "Express Check-in" is available to those who have paid the entry fees and have completed all paperwork in advance.
Auction previews give potential buyers continuous opportunities to inspect the vehicles. These preview times continue during the auction even as other cars are crossing the auction block.
Once on the lot, your car remains there until auction time. At that time, drivers will handle moving your car from the lot to the staging area to the auction block. It's best if you or a designated representative can be present at the block when your car is being offered. An auction representative will work with you at the block to make sure you understand the process and the bid.
Sellers have the right to set a minimum price or "reserve" on the car. The auctioneer will work to receive the highest price possible for the car. However, if the reserve is not met, the seller can choose to accept or reject the last bid. Cars can also be offered at no reserve, which means the car will automatically be sold to the highest bidder. When you sell your car, you receive payment the same day.
The BuyerBidding on and buying a car at a Mecum auction is also an easy process. There is no charge to register to bid, and you can pre-register by mail or fax prior to the event, or you can register on site. Simply call the Mecum office for a bidder's packet if you want to pre-register.
During the auction, you'll find the auctioneer on the block calling the bids and the ring men down on the auction floor. A ring man's job is to help you bid and make sure you understand where the bid stands. The ring men are always in the auction area 30 minutes prior to the auction. Feel free to meet and get to know these auction personnel.
If you're an inexperienced bidder, you may want to practice bidding. The best way is to pick out a car you aren't interested in buying and follow the auctioneer while making bids "in your mind" to get a feel for the flow. Try this practice several times and you'll be ready for actual bidding once the car or cars you want make their way to the auction block.
When you have the winning bid on the car of your choice, you will immediately be given a block ticket verifying the sale. You must pay for the car within an hour of purchase. Purchasing is simple. Payment can be made with cash, certified funds, or a personal or company check. If you want the title immediately, your check must be accompanied by a bank letter of guarantee. Call Mecum Auction if you want a sample letter for review. Without a letter of guarantee, the title will be held until your check clears. MBNA financing is also available on site at all Mecum Auctions. Financing can usually be arranged within minutes. See the bidder registration area prior to the auction to qualify for MBNA financing. If you have an MBNA credit card, you can choose to use your available credit limit as payment.
Mecum Auction has all the services you need on site at the auction. You can drive your car home the day of purchase. If you're from out of the area, Mecum Auction can help you arrange storage for your car until you're ready to ship. Mecum transportation specialists can even arrange shipping for you. Insurance services are on site so you have the option of covering your new collector car with a 30-day binder or permanent insurance if your existing policy does not cover purchase.
Have fun and enjoy your collector-car auction experience. And, if you have questions about buying or selling, call the Mecum Auction Customer Service representatives at 815-568-8888; they'll be happy to help.
Inquiries: Mecum Auction, (815) 568-8888 or register at info@mecumauction.com.
Registration: Check the Registration Form to request a complete sellers package or bidders package, or visit www.mecumauction.com.
Gold Rush Auction ScheduleVehicle Check-in: Thursday 9 a.m.-6 p.m., Friday 9 a.m.-1 p.m.Previews: Friday and Saturday, gates open at 9 a.m.Auctions: Friday 1 p.m., Saturday 10 a.m., Sunday 10 a.m.Memorabilia items will be auctioned beginning 30 minutes prior to the vehicle auction times listed above.
Feature Car Preview PartyOn Friday, June 25 from 6 to 8 p.m., you can see the outstanding array of Gold Rush Feature Cars in all their glory. The Feature Cars will be on display throughout the show, but during the Feature Car Preview Party you'll see these vehicles in special displays up close and personal. The Feature Cars will be sold during the Saturday Gold Rush Auction.