Barrett Jackson is on fire

[70 Forest Green Zee]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SBR</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: whitetop</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: SBR</div><div class="ubbcode-body"> The Howard Hughes 53 Buick that he paid 1.5 million for just sold for 100K. Ouch! </div></div>

I doubt he cares..his high dollar accountants had it set up so if he sold at a loss he takes a tax break. Pratt did not become billionaire by being stoopid.

I would even venture to say he has it set up where he even makes money..he writes off the full price of the Futureliner, I bet it's storage, ad all associated cost that he had including employees he hired to take care of it. </div></div>
I agree that he probably does not care, in fact when you bundle the entire collection, I am sure that he did very well. </div></div>




Keep in mind that a lot of Mr. Pratte's cars were charity cars where 100% of the money went to charity and were a 100% tax write off. So let's just use the Hughes Buick as an example(even though I don't think this vehicle was a charity vehicle) buys it for 1.5 mil, takes a tax write off for 1.5 mil, then sells a couple years later for 100K...he made money. The few he loses money on will be made up by the many charity cars he bought and took the 100% write off on and re sells.

[Born30YrsLate]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: JamesinHBCA</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: bigsixman</div><div class="ubbcode-body">Who is the dark haired buyer in the balcony from Florida that has purchased several cars? I have seen him on BJ tv coverage before. He has purchased everything from muscle cars to heavy cars of the 50s. I believe they mentioned that he has an auto museum. </div></div>

Perhaps you are referring to John Staluppi, owner of Cars of Dreams Museum?

</div></div>

Interesting...he sold off his collection of ~100 cars back in 2012...must be ready to refill that empty space...

[bigsixman]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: JamesinHBCA</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: bigsixman</div><div class="ubbcode-body">Who is the dark haired buyer in the balcony from Florida that has purchased several cars? I have seen him on BJ tv coverage before. He has purchased everything from muscle cars to heavy cars of the 50s. I believe they mentioned that he has an auto museum. </div></div>

Perhaps you are referring to John Staluppi, owner of Cars of Dreams Museum?

</div></div>
Yes, I am referring to this buyer, thank you for your help and information.

[ds1]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: whitetop</div><div class="ubbcode-body">[quote=markinnaples]Been out all evening, how has the money on Ron Pratt's cars been? </div></div>

Many have not met reserve or have sold for less than what he paid for them.

Pratt bought the Super Snake for 5.5 mil and bidding only went up to 4.7-did not meet reserve.

He paid 4 million for the Futureliner and then had it restored ( I would say another 1 mil easily) and it only sold for 4 mil

[/quote

Velocity advertised them and the Barret Jackson infomercial as being ALL at no reserve.

[Postsedan]

The Super Snake sold after it left the stage for 5 mil.

Charley could only muster 3 Mil. Whimp [img]<<GRAEMLIN_URL>>/naughty.gif[/img]

Dan

[cdn454LS6]

anybody know why Ron Pratte is selling his collection?

[whitetop]

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">

Velocity advertised them and the Barret Jackson infomercial as being ALL at no reserve. </div></div>

All his cars had a reserve on them. the ringmaster went down and spoke with Pratt and many he took off the reserve or accepted less than reserve. Many were at reserve..the Super Snake for example did not sell/meet reserve. .the Futureliner was at no reserve.

[ds1]

The Futureliner was donated to charity.

[JamesinHBCA]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Schonyenko2</div><div class="ubbcode-body">You might say it's a little like the WWF of car auctions.</div></div>

Now that you mention it, they do have quite a cast of characters there.

Lets see, there is Craig Jackson the Patriarch, Steve Davis that has never been seen without sunglasses, even at night. Bumbling Mike Joy touching everything, Steve M. as the smart guy with the chunky black glasses, Amy A. the looker with the long flowing hair whispering into the ears of older men to up the bid, Spanky A. with those reading glasses always on his brow, The young bidders assistant that is rarely seen but often heard with his howling scream, Sexy ring girls in long formal gowns holding signs, Gary, the old hippie refusing to give up the long hair, Ron Pratte as the quiet elephant in the room, Richard Rawlins the flamboyant seller, The Big Spender that looks like he just walked off the set of The Sopranos, Various drunken spectators with no intention of bidding but trying to be seen on TV in the background of every interview, and numerous celebrities making a guest appearance on stage.

Who did I miss?

However, they must be doing something right. Attendance is up, prices are up, and I am still watching more than ever!

[ds1]

Prices are up, but why? I haven't seen a break in my economy yet. Where is the money coming from?