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Author Topic: Barrett-Jackson lawsuit  (Read 30022 times)
MMMM_ERT
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« on: January 29, 2007, 01:35:38 PM »

Thought some of you may find this of interest...I jacked it from another board.   It's somewhat long, but interesting. 


http://fourwheeldrift.wordpress.com/

 

Barrett-Jackson’s Westworld Tent Turns Out to be a House of Cards
January 27th, 2007 by fourwheeldrift


As a collector car journalist, I have been watching the Barrett-Jackson auction for years. For the last five or so years, it has been very apparent that the Scottsdale auction is at best a bastion of gross consumption…but now some hobbyists are claiming a worst: fraud.

I’ve discussed B-J with collectors, dealers and enthusiasts, many of whom would be considered “insiders,” meaning they’ve bought and sold cars at B-J and other auctions, or are well-known in the collector car hobby. For some reason, it is this year that people are all finally grumbling and passing rumors in unison.

The bottom line is that Craig Jackson and the B-J company seem to have really screwed themselves this year. Apparently, a well-known judge (legal, rather than concours) selling a vehicle at B-J this year has filed papers with the court, because B-J contracts specifically promise every car three minutes on the stand. Evidently, he was one of the sellers who had his car short-timed. He communicated the story, which got broadcasted via the Classic Thunderbirds List. According to the grapevine, this is already being discussed as translating into class-action status for the benefit of other sellers.

According to this judge and other sources, it appears Barrett-Jackson was operating a bit on the same level as an evangelical healing show. Allegedly they had assistants milling around asking what specific sellers thought their cars would bring. Armed with this information at the control desk, if a lot passed the value at which a seller indicated he’d be happy, the car would be rushed off and the gavel would fall – even if bidding was still very much alive.

Because the event was televised on live television via the Speed TV network, the plaintiff(s) now have video/audio proof that buyers were signaling increased bids before the three-minute marks, but were denied by a too-fast last call and hammer.

While this all might cause Barrett-Jackson to have to pay money to sellers in the form of a judgment or settlement, it is something else that might land Craig Jackson in jail.

It is no secret that Barrett-Jackson owns many cars that are run through the auction – it was something I suspected many, many years ago. This was proven when they started maintaining a showroom of cars in Arizona. This is not illegal, but stay with me.

Along with many collectors, I’ve always suspected that the cars owned by Craig Jackson and the B-J company were often driven up by shill bidders working for the company. Essentially, the strategy works in the sense that ever since the auction focus moved from classics like Packards and Duesenbergs to muscle cars, B-J has been able to shill, say a Hemi Cuda or mid-year Corvette 427 they own, which causes the value of the 10 other identical cars to increase. They wind up “buying” their own car back, but the others go on to regular buyers, who now are paying higher because of the perception the market has moved up.

This suspicion has been supported by at least one auction attendee this year that says he witnessed cars sold at auction headed in trailers back to B-J’s warehouse. The lawsuit allegedly points out that these cars also spent significantly more time on the block than others.

If this isn’t all interesting enough, during this year’s auction, fellow collector car journalist, Keith Martin of Sports Car Market, was booted from the Westworld premises and his media credentials revoked for voicing loud, specific concern regarding the event while sitting in the media room. Barrett-Jackson accused Keith Martin of “holding court” and attempting to send VIPs and journalists to the competing RM and Russo and Steele auction events. Among the alleged opinions included that the cars at B-J were of inferior quality (and had quality misrepresented,) as well as that the bidders were significantly over-bidding cars, which shouldn’t come as a surprise to anyone who has witnessed people paying six figures for cars they could have bought for under $50,000 any other day of the year!!!

This is somewhat of an interesting twist. Keith Martin’s publication has marketed the B-J events and has helped fuel its popularity. Keith is definitely one of the great “insiders” of the hobby, and has been a friend to Craig Jackson. In past years, Keith nor his publication have been critical of the goings-on and rumors, while other collector car journalists screamed that something stunk.

It makes sense, since Sports Car Market really only tracks the value of vehicles and other items sold at auction, rather than via private sales (which really has skewed SCM’s values for years!) So without kissing-ass to B-J, Keith would have missed insider info on the largest events covered by his mag. So we can only guess that Keith and Craig had a falling out of some type.

I applaud Keith for turning the corner on his view of B-J, but I’m with others I’ve talked to about this: I hate to say this about a colleague, but I believe his behavior was a bit unprofessional. As journalists, it is our responsibility to write what we think, but going to the show for years, then promoting RM and Russo+Steele while at Westworld is somewhat unkosher. I agree that Keith, a true hobbyist who started out by writing an Alfa Romeo newsletter, was for a long time too much a part of the “circus” about which he finally rejected, and that SCM has to a significant degree helped to fuel misinformation and a house of cards regarding specific auction prices and bidding behavior. Keith, by all accounts, is a really good guy — an enthusiast, who maybe just needed to take a step back and a big breath and reacquaint himself with those outside of the very insulated collector car “in crowd” — and spend time with some car people who are not trying to exploit the collectors. There are plenty of guys who have dug themselves too deep into this little crowd, and are no longer fun to deal with, because they’ve put personal greed well ahead of the cars and the collectors. Keith will rebound — he has a great internal staff of really fantastic people, who hopefully will help him return to his roots.

And Keith got his chance at revenge today, when his piece in the New York times said: “the red-hot market was cooling a bit.” He likened the high auction prices to the Dot.com craze, then went on to say: “While the prices of some types of cars remain strong, primarily low-production muscle cars with their original engines (“numbers matching” is the trade term) or sports racing cars like Ferraris, other more common cars produced in larger numbers, or cars whose engines have been replaced, are holding their values, at best.”

If you want to get back at someone who owns an auction house, the best way, I suppose, is to tell everyone that prices are too high. Ouch!

While I’ve never met him, the buzz among those in the hobby — both collectors and journalists, is that Craig Jackson is quite arrogant, so don’t expect many to come to his rescue. He inherited his father’s company, and has fueled B-J’s admirable growth with a combination of intelligence, drive, ego, and greed. While there is nothing wrong with that combination, if it results in unethical and possibly illegal activities, that’s inexcusable.

Like many surrounding the hobby, I will be watching the events unfold. Will the Westworld tents come down like a house of cards, or will everything just go away with an exchange of a little money? It’s happened before, like the 2006 event’s Futurliner debacle when investor Ron Pratt allegedly negotiated a $3.0M price (after B-J staff admitted to mistaking the high bid), but the reported sale was for $4.0M.

It’s hard to predict the outcome. None of us have all the facts. Craig Jackson has become a very powerful man, and his company has pumps an estimated $96M dollars into the Arizona economy annually. He’s allowed his say, and the appropriate judge/jury might very well decide he personally has done nothing wrong.

This all being said, there’s no doubt that Barrett-Jackson “jumped the shark” this year. Unlike when Fonzi did it, this story has Craig Jackson driving his allegedly shill-bid Hemicudas over the tank and down a ramp that could lead to six years in a minimum security prison-issued orange jumpsuit. If that’s the case, maybe he can get Sports Car Market in the slammer to keep-up on Russo and Steele, RM and Kruse auction results.
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Jerry@CHP
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« Reply #1 on: January 29, 2007, 11:06:18 PM »

All should read this.  It's important.  I was there.

Jerry
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dab67
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« Reply #2 on: January 30, 2007, 06:09:36 AM »

So what are we saying here??  :-\That when money and  particularly large amounts of money are involved, that no manner who you are or what your reputation is, you still have to know your stuff when comes time to buying?  Was wondering why in particular, some of the Hemi Cuda's that were selling on Sunday didn't even come close to getting the bids and dollars that was spent on Saturday.
What a shame Sad

Dave
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camaronut
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« Reply #3 on: January 30, 2007, 09:36:53 AM »

It's about time.......

Im amazed at the prices some of these cars get, and always wonder how they got that way....

Now I think we know.....

I was always suspicious about that auction, and it's popularity....but it's just my opinion that the combination of popularity and money always turns to unselfish greed.


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Adz28
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« Reply #4 on: January 30, 2007, 11:32:52 AM »

Is anyone able to validate this story? I did some searching and I don't see any other articles about this. The story posted is from a Blog (opinions/editorials) by Apex Marketing Strategy / Four Wheel Drift.

With all the lucrative endorsements, television contracts, sponsorships, etc... Why on earth would BJ risk their entire enterprise on something that is clearly fraudulent and even criminal, and so easily exposed. I hope the story is not true, because if it happening there, it is probably happening at all the other auctions.

I would not put it passed Craig Jackson to come up with a scheme like this, but the story seems a bit fishy to me. So, if you come across a "news" article, please post it.



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dab67
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« Reply #5 on: January 30, 2007, 12:36:35 PM »

Ad:

What do any of these endorsements, contracts or what not have to do with anything? If it is true and I am not saying it is, people and corporation (Enron comes to mind) will sacrifice their own familes to make a buck if the buck is big enough. So don't kid yourself that this could not happen.

Dave
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Adz28
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« Reply #6 on: January 30, 2007, 12:52:54 PM »

Don't get me wrong... I agree, it can totally happen here (and does happen all the time in the corporate world). All I am saying is that it would be such blatant fraudulent activity, it raises questions if it is true since there is little being reported. It would be nice to get some more info outside of a blog.
« Last Edit: January 30, 2007, 12:59:11 PM by Adz28 » Logged
MMMM_ERT
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« Reply #7 on: January 30, 2007, 01:14:56 PM »

Before I posted this thread, I tried to find more on the lawsuit to verify it...but could not find anything.    I will certainly post more info if it comes available.
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« Reply #8 on: January 30, 2007, 01:29:43 PM »

Just for giggles, I sent the text of the article as an e-mail both to the Speed Channel's main address as well as to the e-mail address for Wind Tunnel , which is a viewer call in / participation show also on the Speed Channel.  Wanted to see if they would in any way respond to the article since the BJ auction is on the Speed Channel.  Haven't received anything and really don't expect to.  In the spirit of fairness, though, wanted to give them a chance to comment if they wanted to.
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Richard Thomas
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« Reply #9 on: January 30, 2007, 02:42:37 PM »

Lot of funny stuff going on, from what I hear.
I had also heard that the 2 Boss 429's were part of the Craig Jackson collection.
They hit record prices, and went back to his collection???

Also that the "Last Corvette" is still owned by it's seller Proteam.
It will be on display at the Corvette museum, but it is stll available for sale.
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« Reply #10 on: January 30, 2007, 04:25:51 PM »

I've never been to a BJ auction in person.  I have been to a few RM auctions.  Sometimes, all those events look a little suspicious  --not just the prices, but also how cars move.  When you are talking that kind of money, it seems like "mystery" often surrounds it.
For what it's worth, I searched the recent articles of the Scottsdale Examiner and found nothing.  Surely, they would have an article on it, if there was anything known.
I'd love to know what Jerry and others who were there felt about how the auction was conducted.  It's hard to tell from TV.
The really sad thing is this cannot help but hurt the hobby for car lovers "big and small"...  Cry  Cry  Cry
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« Reply #11 on: January 30, 2007, 04:38:07 PM »

Quite a few of my friends go to AZ each year.
I keep hearing these types of terms used describe what goes on...

Dog and pony show
Smoke and mirrors
A fool and his money
big top circus
Silicone city Smiley

I just can't go to those big auctions anymore.
The fraud and misrepresentation made me very mad.
This had nothing to do with the auction houses.
Just a lot of dishonest sellers, and uneducated buyers.

My buddies just kept telling me to not take it seriously, and just enjoy the show.
I just hate it when sellers lie right to your face.
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paceme
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« Reply #12 on: January 30, 2007, 05:02:07 PM »

Just for giggles, I sent the text of the article as an e-mail both to the Speed Channel's main address as well as to the e-mail address for Wind Tunnel , which is a viewer call in / participation show also on the Speed Channel.  Wanted to see if they would in any way respond to the article since the BJ auction is on the Speed Channel.  Haven't received anything and really don't expect to.  In the spirit of fairness, though, wanted to give them a chance to comment if they wanted to.


Its amazing there were a bunch of people complaining how BJ was ruining the hobby because of the astronomical prices last year, and now another group is complaining how low prices, and how some bidders weren't given and opportunity to bid...hence the low prices..

My take is that the fourwheel drift fella has zero credibility. Most if not all his statments are unfounded or have been proven to be false. With such a big event you can't please everyone. And my take is that it is great entertainment, but you won't see me purchasing a car at an auction anytime soon.
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« Reply #13 on: January 30, 2007, 07:25:47 PM »



Dog and pony show
Smoke and mirrors
A fool and his money
big top circus
Silicone city Smiley


That pretty much sums up my experience two weeks ago at my first Barrett-Jackson event.   I personally can't stand an auction and the "be bwah biddle dee bee" speak, that gets on my  nerves within 5 minutes.   I'm just glad I went to see some of the most beautiful cars I've ever seen in person and likely  never will again.  I think people are idiots buying a car at auction when you could buy that car for less private party.   The seller may make more money by doing an auction...or some may not with the no reserve.  I can't believe some of the beautiful cars I saw go for dirt cheap.

Honestly, the vendors we spoke with were making fun of most of the bidders calling them dot commers with too much money and they're not true collectors.
The vendors are getting tired of being ripped off to have a display tent/booth there too.    Some don't even need the exposure BJ gives them, so they're likely not going to return.
BJ won't even let vendors bring in their own food and water, they make them buy from the food vendors putting more money in BJ's greedy little fists.

A local guy that we walked into the show from the parking lot told us a few years ago people were putting "for sale" signs on their car in the parking lot and BJ had them ALL towed.  Hows that for greed?  Does Jackson really think cars for sale in a public parking lot is going to hurt his precious auction?

If you ever go to the BJ event...just go to see the beautiful cars and ignore the crazed frenzy around you.   Do it once if you can.    I won't ever go back...which is too bad because it's nice to see those cars.  Just not worth the crazy price of admission anymore.
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« Reply #14 on: January 30, 2007, 08:06:26 PM »

Actually - that is what everyone says. You have to see it just once.
It is a chance to see more beautiful cars in one place, then you will ever in your life.

$500 to get into the bidders area.
Includes free drinks - I will be trying to get my moneys worth.

Better hope I just fall down, before I get silly enough to actually buy something.
The wife is coming with next time - she is "all original" equipment.  Wink
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Jerry@CHP
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« Reply #15 on: January 30, 2007, 09:29:37 PM »

Very, very few nice Camaros there.  Saw lots of fake paperwork this year.

Jerry
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VI009DZ
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« Reply #16 on: January 30, 2007, 09:57:39 PM »

Forging paperwork, trim tags, restamped parts and lying sellers will NEVER make it less enjoyable for me to drive my car.  I'd enjoy the car as much if it were worth $500 or $200,000.

That's funny that you say that Jerry.  I saw a lot of nice looking "oh, this baby's original original, barn fresh, survivor, 1-owner, documented, matching, verified, blah blah) camaros bring less than I'd expected.
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« Reply #17 on: January 30, 2007, 10:09:30 PM »

That is because the people were buying the over-restored, made up, recreation cars
with the beautiful base/clear paint, and all the phony paperwork.

The true survivor cars with the dull laquer, or faded paint, and original interiors don't appeal to that type crowd.

What is sad is, that the phony paperwork is starting to get very good.

I laughed a few times when you see that they added the "seat spring" stain.
The Phony POP's are getting extreemly close.
The trim tags are getting better everyday.

Soon the paperwork won't mean anything anymore.
I really don't know what this will do to our hobby, but it cant be good.
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Mr12771
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« Reply #18 on: January 31, 2007, 12:27:14 AM »

Is it's true the blue 69 Z28 JL8 car was fake? I heard restamped drive train, fake POP, fake papers? Did anyone look at the car and or paper work?

http://www.barrett-jackson.com/carlist/cardetails.asp?In_AuctionID=221&In_LotNumber=1233
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« Reply #19 on: January 31, 2007, 11:05:59 AM »

It is amazing to me how this whole hobby has gone full circle. Used to be fixing up your muscle car was just plain fun. Now it's too damn serious! What do you do with 69 Z with 4 wheel discs and a crossram anyway? Store it in Fort Knox?

Jimmy V.
 
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« Reply #20 on: January 31, 2007, 03:14:11 PM »

That is because the people were buying the over-restored, made up, recreation cars
with the beautiful base/clear paint, and all the phony paperwork.

The true survivor cars with the dull laquer, or faded paint, and original interiors don't appeal to that type crowd.

What is sad is, that the phony paperwork is starting to get very good.

I laughed a few times when you see that they added the "seat spring" stain.
The Phony POP's are getting extreemly close.
The trim tags are getting better everyday.

Soon the paperwork won't mean anything anymore.
I really don't know what this will do to our hobby, but it cant be good.

your right Jeff,its sad that the hobby has gone to the criminals who crawl out from under the rocks when big money gets involved.B.J. auctions should be fully libal for all cars that they sell as original matching number cars.The phoney trim tags and P.O.Ps is one reason I was adament on trying to get my old 67Z back.I knew that the trim tag on that car wasnt a fake when I bought it back in 1983.It is buyer beware and if your looking at a car look very closely at all the details.
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« Reply #21 on: January 31, 2007, 03:36:30 PM »

That is because the people were buying the over-restored, made up, recreation cars
with the beautiful base/clear paint, and all the phony paperwork.

The true survivor cars with the dull laquer, or faded paint, and original interiors don't appeal to that type crowd.

What is sad is, that the phony paperwork is starting to get very good.

I laughed a few times when you see that they added the "seat spring" stain.
The Phony POP's are getting extreemly close.
The trim tags are getting better everyday.

Soon the paperwork won't mean anything anymore.
I really don't know what this will do to our hobby, but it cant be good.



I can't agree with the statment regarding survivor cars. Based on my experience survivor cars are as , if not more valuable than concours restored cars in the market. The market interms of buyers may be smaller, but the # of true survivors is even smaller (very rare). This puts them at a premium. A good example was last years survivor Z at BJ that sold for 211K, for a base Z28 with few options. Since survivors are my focus of interest I hear of survivor car selling for tremendous amount of money. To me they will alway bring a premium, and as clones and fake paperwork improve so will the demand for pure pedigreed cars.

I believe the quote above hold true for speculators, trophy buyers and novices however. Benchmark cars are invaluable to the hobby and help preserve our cars true heritage, not some restorers interpretation.
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« Reply #22 on: January 31, 2007, 09:43:36 PM »

I agree 100%.
I would prefer a survivor car everytime., and pay a premium for it.

Just noticed this year, the auction crowd prefered the customs, or so  it seemed.
Many looked right past the original non-restored - used car.
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« Reply #23 on: February 01, 2007, 06:43:33 PM »

Finally chiming in. The blue JL8 Z28 was very real with very real paperwork. I owned it a few years ago. It was bought new by Dave Emmanuel the automotive writer. He even used it in a couple magazine articles in the 70's. It had the orig window sticker and other paperwork.  I think the block wasdecked but it was the orig block and I confirmed the car with Emmanuel.This same car sold at RM in Monterey last year and both times the auction card said it had paperwork but I never saw any of it on display. It was on the cover of Sports Car Market Magazine last month but that also was not mentioned on the Barrett-Jackson auction card. I passed by it at Monterey and didn't realize it was my old car. Someone since me has added the crossram.
 As for Barrett-Jackson not being the venue to sell survivor cars, in addition to the Z28 last year there was the L78 convert the year before. Or the killer 12K mile 68 L78 Camaro the year before that. Each time those cars brought record  type money.

  As for the article written by the 4 wheel drift guy I have posted on other forums that I put his article on the same level as a grocery store check out line mag like National Inquirer etc. I consider most of what he said as crap.
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« Reply #24 on: February 01, 2007, 06:49:30 PM »



Just noticed this year, the auction crowd prefered the customs, or so  it seemed.
Many looked right past the original non-restored - used car.


I noticed that too....   

I read in this weeks  Autoweek the owner of Russo/Steele (Alcazar?) claims that the custom resto-mod cars are dropping in price...yet they were the ones that seemed to take in big money at BJ.   
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« Reply #25 on: February 01, 2007, 07:16:11 PM »

Here was another interesting article from a magazine called "Sports Car Market".
No mention of any names, but it seems clear which Auction house he is referring to.
Actually I think I recognize the guy in the picture Smiley

« Last Edit: February 01, 2007, 07:20:04 PM by Pacecarjeff » Logged
Hylton
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« Reply #26 on: February 01, 2007, 11:08:14 PM »

Thanks for the post Jeff but the article basically says that:

A) Phantom bids are almost impossible to prove in court; and
B) Owners (or their agents) can legally bid up their cars at B-J.

Here's a thought:

If someone wants to buy a car with no proven history and without going through some kind of research, don't they deserve that car? The Cortez Silver Cross-Ram car that went for $132K at B-J comes to mind.
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« Reply #27 on: February 01, 2007, 11:29:06 PM »

Thanks for the post Jeff but the article basically says that:

A) Phantom bids are almost impossible to prove in court; and
B) Owners (or their agents) can legally bid up their cars at B-J.

Here's a thought:

If someone wants to buy a car with no proven history and without going through some kind of research, don't they deserve that car? The Cortez Silver Cross-Ram car that went for $132K at B-J comes to mind.


No problem with any of that. But if that is wht is happening.
Then don't call it a "no reserve" auction.

If the auction house knows what the seller wants, and helps phantom bid to that amount, THEN THAT IS A RESERVE.

Reminds me of the oriental rug auctions.
No reserve is supposed to be just that. Not the auction house phantom bidding.

I really don't think there is anything wrong with buying back your own car.
I certainly would not have the nerve to send my car (a real car, and not a clone) through at no reserve, without having a plan to
make sure I sell the car for what I want, or take it home and keep it. (and pay the fee)

But on the other hand, it is not so much fun to watch a auction with a bunch of cars - not meeting their reserve. That is BORING...

A lot of people don't care about the pedigee or numbers, and just want a cool car.
so be it.
But it needs to be regulated to make sure the whole thing is on the level - what ever level that is.

Most people don't know how a slot machine works, but the state regulates it, to be sure it is fair.
Like the Casinos - just make sure it is not a huge scam - cheating people.
Lots of mioney involved - not everyone there is buying multiple $100K cars, some are spending their life savings.

It should be fair.  IMO
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« Reply #28 on: February 02, 2007, 10:36:15 AM »

You guys are assuming that because the pic in the above post is at Barrett-Jackson that the writer meant his bidder agreement allowing the auction house to bid for the seller was at Barrett-Jackson also. He never said it was. I might still have my bidder agreement here. I will look for it later today. Or maybe someone else has one.
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« Reply #29 on: February 02, 2007, 07:23:03 PM »

Here is a Press Release from Barrett Jackson, outlining their position on this matter:

FOR IMMEDIATE RELEASE
SCOTTSDALE, Ariz. – February 1, 2007
Earlier this week, officials at the Barrett-Jackson Auction Company were made aware of a “blog” making
false allegations regarding the Company’s business practices. While the author of the blog decided to
remove the posting after receiving a written statement from Barrett-Jackson, the original blog content has
been copied to numerous other Web sites and other locations on the Internet. The reply from Barrett-
Jackson has not been copied to these additional locations.
The statements published in the original posting, and repeated in numerous other forums since that time,
are untrue and are potentially harmful to Barrett-Jackson’s business interests. Barrett-Jackson issues the
following statement for the purposes of clarifying the situation and providing its position regarding the
accusations made against the Company.

There is no lawsuit against Barrett-Jackson alleging improper or unlawful auction practices.

Barrett-Jackson has historically offered a combination of reserve and no reserve vehicles across
the auction block. In a sale with a reserve, a vehicle is not sold if the reserve price is not met. In a
no reserve sale, every vehicle that crosses the block is sold to the highest bidder, regardless of the
amount of the last bid that is made before the fall of the auctioneer’s hammer. In a no reserve sale,
the owner of a car may not bid (by himself or through an agent) on his own car.

In recent years, Barrett-Jackson has run auctions that are completely no reserve. This is a
business decision made by Barrett-Jackson; there is no legal or other requirement that all vehicles
be sold at no reserve. In the future, Barrett-Jackson may opt to offer vehicles with a reserve.

Owner buy-backs and so-called “chandelier” or “shill” bidding are forbidden on all no reserve
vehicles sold at Barrett-Jackson. The practice is specifically prohibited in the consignment contract
signed by each seller.

Barrett-Jackson’s auction staff monitors all bid activity to the best of its ability while a vehicle is on
the block. If Barrett-Jackson sees that an owner (or someone known to be the owner’s agent) is
bidding on his own vehicle, the Company stops the bidding and reverts to the last bid.

With the size of Barrett-Jackson’s auction venue and the presence of thousands of registered
bidders, it is physically impossible to guarantee that no owner (or an unidentified owner’s agent)
attempts to bid on his own vehicle. For this reason, it is Barrett-Jackson’s policy to penalize any
owner who successfully bids on his own vehicle by charging that person both the seller’s
commission and the buyer’s premium on that vehicle. This penalty serves as a meaningful
deterrent for those who may otherwise choose to ignore the rules. Individuals who fail to abide by
auction regulations may also be barred from participating in future Barrett-Jackson events.
Page 2

Barrett-Jackson continually updates its practices and procedures to implement additional measures
to prohibit owner buy-backs and to prevent the practice of “chandelier” bidding in any no reserve
situation. These procedures include a continually evolving use of technology and visual aids to
assist the auction staff in identifying owners who may attempt to bid on their own vehicles.

State and federal auction laws provide that the auctioneer has discretion in calling the final bid and
declaring the goods sold with the fall of the hammer. There is no regulation governing the amount
of time a vehicle must remain on the auction block, nor does Barrett-Jackson’s consignment
contract guarantee the amount of time a vehicle will spend on the auction block.

Barrett-Jackson does not run its own cars through the auction and provide “shill bidders” to inflate
prices of vehicles.

Barrett-Jackson is diligent in its efforts to run a clean auction on every level. The Company has
been audited numerous times and has never been found to be in violation of any state or federal
auction regulation.
A live auction is a complex, challenging scenario with a limitless number of variables in any given situation.
There is no way to guarantee a flawless sale of every vehicle that will please every seller and every buyer.
No auction company can guarantee that every individual will be happy with every sale. Nevertheless,
Barrett-Jackson takes the interests of its customers—on both sides of the equation—very seriously and will
continue to do so as the Company works to refine and improve its policies and procedures today and into
the future.
In a related matter also mentioned on the recent Internet postings, there have been numerous rumors
circulating regarding Barrett-Jackson’s decision to revoke journalist Keith Martin’s media credentials during
the Barrett-Jackson 2007 Scottsdale auction. Barrett-Jackson responded directly to legitimate inquiries
about this situation and has identified the individual who overheard Mr. Martin’s comments in the Barrett-
Jackson media center (the circumstance which led to the decision to revoke his media credentials).
Statements indicating that the situation was fabricated, or that Barrett-Jackson has been unable to produce
any corroboration of the events, are untrue. This matter has already received more attention than it
warranted, and Barrett-Jackson has made the business decision to not engage in discussions that may
encourage further speculation.
About The Barrett-Jackson Auction Company
Established in 1971 and headquartered in Scottsdale, Ariz., Barrett-Jackson specializes in providing
products and services to classic and collector car owners, astute collectors and automotive enthusiasts
around the world. The company produces the “World’s Greatest Collector Car Events™” in Scottsdale and
Palm Beach, Fla. For more information, visit www.barrett-jackson.com or call (480) 421-6694.
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« Reply #30 on: February 02, 2007, 08:02:14 PM »

.....and now this from the original fourwheeldrift article writer Sam Barer

I smell some big time arm twisting (read: legal action/threats) in this version...


http://fourwheeldrift.wordpress.com/2007/02/01/the-reason-its-no-longer-here/


The Reason It’s No Longer Here
After some real soul searching I decided to take down the posting regarding Barrett-Jackson. I was not going to offer an explanation to readers, but after widespread rumors, many emails and telephone calls, I wish to set the record straight.

Steve Davis, President of Barrett-Jackson took the time and effort to read the article, and then posted a comment that argued that the content was “reckless.” I firmly believe that in writing it I far exceeded the standard of conduct applicable to opinion pieces published on the internet. Each of the allegations made in the piece was already published in print, on message boards, around the blogosphere, through email lists, or had been circulating via car club events. I have additional sources who provided other information regarding most of the points.

That being said, as I reread the piece and gave it a lot of thought, I came to the belief in retrospect that while a valid piece of journalistic workmanship, it could be arguably seen from Barrett-Jackson’s standpoint as unfair. I had aggregated claims and allegations from sellers and participants over the years, yet had not leavened the piece with B-J’s side of the story. In taking it down, it offers B-J time to respond, educate, investigate…I even provided B-J the name and contact information of the now-famous judge (with his consent,) who sold his high-profile car on Saturday of the event. Hopefully, they can communicate and come to an understanding, and both report back.

Since I have no personal animosity against B-J (I believe it to be one of the most entertaining auto events of the season,) and I realize there are two sides to this and every story, I felt the better course of action was to pull it down and integrate anything they chose to communicate within a new article.

Furthermore, the article brought out many additional people (including some names car enthusiasts would recognize) who have taken time to tell me their personal stories of interaction with B-J and other auction companies. So like an artist who looks at his painting after the fact, this story, if and when it is updated, can look so much better, in my opinion, with all of the information provided by these sellers, attendees, as well as auction company representatives. (I also thank Drew Alcazar from Russo and Steele for taking time out of his busy schedule to communicate with me. I look forward to hearing more from him, as well as representatives from other auction companies, who have contacted offering to share information regarding their experiences.)

My final reason for pulling the article was that it was getting too personal on many levels. From threats of lawsuits against me to attacks against those posting on the blog with differing views, it simply was not what The Four Wheel Drift was intended to be about.

I personally thank all those who have sent their stories and support, as well as those many great, trustworthy sources who were the basis of the original story.

Sincerely,

Sam Barer
The Four Wheel Drift
« Last Edit: February 02, 2007, 08:03:56 PM by MMMM_ERT » Logged

1968 Camaro RS/SS 350 Coupe
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« Reply #31 on: February 02, 2007, 08:25:41 PM »

Almost sounds like he is afraid for his life.
He was up against some VERY big guns.
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« Reply #32 on: February 03, 2007, 02:29:35 AM »

I think a friend off Matt Murphy bought the blue JL8.  I know Larry Christensen was suppose to inspect the car on the Sunday after the auction.  Last I heard is the buyer was going to try and get out of the purchase from BJ but I don't know the whole story.  I saw a lot of issues with this car but didn't inspect it.  The ad sign for the car said it was the "best Z28 Camaro in the world."

Jerry
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« Reply #33 on: February 03, 2007, 09:51:02 AM »

LOL...Not the best Z28 in the world but a great car with great history and paperwork. It was restored by a non Camaro guy that owned it for years so it had the usual resto errors. Why he would not want it is beyond me. I have seen Larry get carried away critiquing little things on cars and ignore the big picture. I hope that is not the case.
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« Reply #34 on: February 03, 2007, 03:14:45 PM »

I know that if a car is misrepresented in any way, shape or form, that you have a 99.9% chance of getting your money back.  Wish I had looked at that car closer, I do remember that the master cylinder, water pump, timing cover and many component things were not right......and it had some extra wiring on the firewall?  Also, a radio shack radio?  I guess we'll see how this plays out.  I just don't understand how someone with a conscience can call a car like this the best one in the world.

Jerry
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« Reply #35 on: February 03, 2007, 04:57:17 PM »

Out of 1200 cars there I'm guessing most had the descriptions embellished. We all have different opinions of what restored it, show quality paint etc. The misleading thing on this car would be dealer installed crossram. But they don't tell you what dealer or when. A dealer that had it a year ago would probably qualify.
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« Reply #36 on: February 03, 2007, 05:14:36 PM »

I just found my copies of some of the paperwork on the blue JL8 Z. Orig.window sticker, Car shipper, purchase contract, Letter dated August 69 from Chevrolet offering to swap out the chambered exhaust for quieter exhaust, article in July 1972 Car Craft on the car pitting it against a Boss 302 and even talking about the 4 wheel disc brakes. Another article in Cars magazine where they add Blackjack headers, Lakewood traction bars, Mallory Super CD,Hays clutch. Options per the window sticker were ...fold down seat,console,spoilers, 410 posi, 4-wheel disc, M21 trans, Rosewood wheel, guages,am radio,Special front bumper,ducted hood,Z28, Black houndstooth deluxe interior.

   I don't remember the build date on the car but as I recall it was built within a week of when Emanuel took delivery. Built in LA and sold new in LA. If I could afford it I would love to have that car back. In 72 it ran a 13.85@105. Great car. I think the guy is nuts if he sends it back.
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« Reply #37 on: February 03, 2007, 07:01:20 PM »

I am curious why the buyer  didn't have Larry C look at the car prior to it being auctioned on the block. It seems at some point the buyer has to take responsibility. Isn't it just the sellers opinion, as he has been quoted as the best, he is not necessarily an expert (nor is he claiming to be one), possibly it's the best in his little world. Did he claim it won any show or that it competed at a high level judged venue?? At some point the buyer needs to take some responsibility, seems like sour grapes afterwards...buyers remorse possibly. Look at the sellers perspective, he paid to sell his car at a great auction and now that opportunity is possibly lost, because some buyer for what ever reason changes his mind. There are risks at auctions, and they are certainly "buyers beware". If you want to buy a car at a auction, you better educate yourself or hire and expert prior to the purchase NOT afterwards. Option wise it is probably up there with the most optioned JL8's.  I know Mike R's lemans blue RS may have a few more, but the list is short.
« Last Edit: February 03, 2007, 07:10:01 PM by paceme » Logged

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« Reply #38 on: February 04, 2007, 12:40:13 PM »

Can anyone tell me the correct exhaust manifolds for a '69 camaro, z10, 350, 4speed? Is there a different  exhaust manifold for an automatic and manual trans. need left hand side only.
Some I find on internet say they are for automatic.
Thanks
Tom
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« Reply #39 on: February 04, 2007, 10:12:38 PM »

That blue JL8 car sold at auction a few months ago for $140K. This time $162.5K.
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« Reply #40 on: February 05, 2007, 01:14:25 PM »

THE AUTOMATICS, EXCEPT CALIFORNIA CARS DID NOT HAVE A.I.R. HOLES.
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67 rs/ss 350 butternut yellow 4 speed 2nd owner
70 Z28 forrest green, green int, M40, bk vinyl roof PROJECT
99 SS hugger orange 6spd NO TTOPS bought new 1 of 54
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« Reply #41 on: February 06, 2007, 03:21:57 PM »

The dealer that was selling the JL8 car at BJ appears to still have it. I noticed it was still available on their website so I E-mailed for more info on the car Saturday and was just E-mailed more pics this morning. Considering they thought it was worth 325K to 400K, for whatever reason, they must have figured out a way to buy it back?
Don
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« Reply #42 on: February 06, 2007, 04:19:31 PM »


 they must have figured out a way to buy it back?
Don

But Barrett Jackson says they don't allow that to happen....    Wink
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« Reply #43 on: February 06, 2007, 04:53:13 PM »


 they must have figured out a way to buy it back?
Don

But Barrett Jackson says they don't allow that to happen....    Wink

Obviously if someone wants to buy their car back they can easily have a buddy bid. BJ will cancel the bid if they believe a  friend or business associate is bidding on the sellers behalf. Policing it is next to impossible, however the seller is now required to pay both the buyer and sellers fee of 18%.
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« Reply #44 on: February 06, 2007, 05:15:48 PM »

In reality there is nothing more in play here than what any ethical business deals with daily - taking excellent care of its customers. There are a lot of very well known, high end auction houses in the US and Europe that deal with other forms of classic or antique collectibles.  They have figured out how to run auctions that are above reproach.  The increased cost(s) that might be required to ensure 100% legitimacy could be significant.  However, the auction house is simply going to pass those increased costs along to the buyers and sellers in the form of increased buying and selling fees, increased registration, etc. 

If there is a problem (and I'm not saying that there is - that is for those who actually know to decide), it is not the cost of enforcement - it is the cost of personal ethics.
« Last Edit: February 06, 2007, 05:29:34 PM by rich69rs » Logged

Richard Thomas
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« Reply #45 on: February 06, 2007, 05:48:58 PM »

18% on 200 million dollars.
Should be able to afford some ethics, I would imagine.
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« Reply #46 on: February 06, 2007, 07:13:45 PM »

THE AUTOMATICS, EXCEPT CALIFORNIA CARS DID NOT HAVE A.I.R. HOLES.

That's what I have always understood as well.
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« Reply #47 on: February 07, 2007, 12:32:10 AM »

I just found this post.
I had a recent experience with a Palm Beach FL 66 vette that a customer bought to me for a "check out".
He was not a car guy and wanted a 66 vette bb 4 spd badly,had the cash and bought one,but knew the car was not running right
when he picked it up at the erminal in Orlando.
He bid on a car which was photo catalogued and in printed material as a numbers matching recreation 66 427 Vette..
It was far from numbers matching.Cross drilled rotors,demon carb,msd,lakewood bellhsg,china wire wheels,oil dripping from side pipes ect-you get the picture.
Long story short Gary Bennet contacted me,I sent photos to him and car was "returned". Fed x transport picked up and was now
sent to Scottsdale AZ for resale ? Maybe one of those personal B-J cars.Don't know.
The owner paid $140 k for this modified car !!!
Sounded like shill bidding to me too.
Its a shame this auction venue has gone bad as it will effect all of us as the owners and collectors of all cars from the past. Cry
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« Reply #48 on: February 09, 2007, 02:08:35 AM »

Interesting blog from someone who is in the know.

About Me

Name: Rick Carey

Auctions Editor of Car Collector and Victory Lane magazines. Reporting on the collector car auction market since 1991. Editor of Car Collector's Online Market Journal www.ccomj.com. For more see www.rickcarey.com.


His blog this subject:

Friday, February 02, 2007

The Barrett-Jackson Rumor Mill, Again

It’s no wonder Craig Jackson sometimes acts paranoid. How many times does Barrett-Jackson have to deal with uninformed rumors?

We’re still putting down the “the Futurliner didn’t sell for $4 million” stories, a year after the $3,680,000 (that’s the $4 million hammer bid less the 8% seller’s commission) wire transfer landed in Montreal.

This week it was “did you hear about the class action against B-J? It’s all over the Internet.”

Well, no I hadn’t, so I went looking.

I found someone named Sam Barer’s posting on his blog. A wide-ranging rant, it started off by accusing B-J of fraud (“some hobbyists are claiming a worst [sic]: fraud”), which must have gotten Mr. Jackson’s attention. Then there it was, Barer says someone “has filed papers with the court” and “this is already being discussed as translating into class-action status.”

Sam claims to be “a collector car journalist” who has “been watching the Barrett-Jackson auction for years.”

From reading his rambling posting it didn’t even appear that he was at B-J, much less on the block where he might have become aware of what goes on there so to find out I called the phone number for his company’s “Business Office.”

I reached Sam at home.

Not only wasn’t Sam at Barrett-Jackson this year, he’s never been to Barrett-Jackson at all. He has been “watching the Barrett-Jackson auction” though. On SPEED Channel. He watched the whole thing, he said – except for the parts he missed. And he “knows people” who’ve bought and sold cars at Barrett-Jackson.

When pressed, Sam admitted that he didn’t know if a suit had been filed. He further allowed that the “class action” was complete conjecture.

This is pathetic. Barrett-Jackson (and Craig Jackson and even Keith Martin who came in for his share of Barer-bashing) has been taking flack from someone who hasn’t any firsthand knowledge of what went on at Barrett-Jackson in 2007 (or any other year). He’s just dishing out recirculated rumors, then piling surmise and conjecture on top of them.

Barrett-Jackson has now issued a statement dealing with Mr. Barer’s rumors and surmise. The statement is clear, concise and factual, unlike the rambling rant that prompted it.

In the case of the lawsuit/class action rumor, there is no “there” there.

Craig Jackson isn’t the one who is paranoid.
Rick Carey
February 2, 2007

Labels: barrett-jackson, collector car auction

posted by Rick Carey at 3:12 PM 0 comments
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« Reply #49 on: February 09, 2007, 05:34:59 PM »

Nice find...but I don't buy it for a second that Barrett-Jackson is squeeky clean...I doubt most of would.
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« Reply #50 on: February 09, 2007, 05:51:32 PM »

Just another guy's oppinion.
This is old news. I would rather hear more about Anna Nicole Smith.
The sides have been drawn - it is ALL just conjecture.

Either you believe it happens or you don't.
Doesn't change what happened, or what is going to happen.
The auction is likely under official investigation, let the authorities sort it out.

BJ's response was to just deny everything. (as would be expected)
Their letter was well written, because a TEAM of high paid lawyers,
worked on it for 2 days. This stuff is just boring.  Roll Eyes

Most of the stuff that was written - happens at EVERY auction.
Can't believe BJ's is the only one it doen't?
Only time will tell.
I still believe there is some truth in there somewhere, trying to get out.

Some of the writers original sources had to be protected,
which made him have to back down and forget it. (And all the threats by the lawyers.)

One guy wrote about it.... but there was not really anything that I had not heard over and over again
from many people year after year, after year..

I have seen it myself, I will see it again. Nothing new to me.
I certainly don't know for sure, and as said before - even harder to prove.
but you kind get a feel when you are standing there. - OR NOT. Huh

Maybe it is true, maybe not.
But, if this all WAS happening...
You will definitely see changes with all the publicity now.
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« Reply #51 on: February 11, 2007, 10:30:32 AM »

Well, somewhere between "Buyer beware" and "Presumption of Innocence" is the truth...
Again, bad publicity and over-pricing of misrepresented cars is not good for the hobby, whether at a famous auction or in somebody's backyard.
In the end, makes me glad we have CRG --a good place to discuss and learn!
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« Reply #52 on: February 14, 2007, 05:02:03 PM »

For all of you who cannot afford the real thing at the B-J auction... not to worry. They have graciously offered up toy versions of "6 awesome rides that recently sold on the auction block". Only 24.95!

Better hurry, since they are a limited production of only 3,500 units.

I wonder if it is in their business plan to place these soon-to-be collectibles up for auction in 2008 Scottsdale  Wink

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« Reply #53 on: February 14, 2007, 05:10:36 PM »

Pretty cool idea actually -- buy your car there - then get a replica of the sale.

Only problem... It's a $2.49 Johnny Lightnig car.
But just like the auction, with the Barrett Jackson packaging it now sells for $24.99  Shocked
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« Reply #54 on: February 14, 2007, 07:56:21 PM »

They were selling a 1:64 Greenlight 2006 Concept Camaro/70 Camaro set at BJ this year for $20.00....   or it was free if you spent $200.00 on other merchandise.  Roll Eyes

I passed.
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« Reply #55 on: March 17, 2007, 08:38:58 AM »


Happy Saint Patrick's day to all!

Here's the latest update on this saga........it makes for interesting reading.

http://www.azcentral.com/news/articles/0317barrett0317.html

It will be interesting to see how this unfolds now that the person B/J is taking action against actually is a Judge...
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« Reply #56 on: March 18, 2007, 05:24:32 PM »

It certainly WILL be interesting what happens here. I would think many of the claims of fraudulance will be brought out in court.  Jerry, or anyone else that was there, can you explain why there were several cars on Sat. PM that the price was lowered AFTER being knocked off and the car driven away? It happened at least 4 times with no explaination. My theory is the owner got stuck as high bidder and they went to the backbidder.  Any ideas?
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« Reply #57 on: March 18, 2007, 10:34:16 PM »

My prediction:
This lawsuit will never reach a courtroom.
It will be settled with a gag order.
The unhappy party will be paid off.

But really BJ acomplishes it's goal of quashing any talk like this in the future.
It is a legal scare tactic, it will work.

In the end everyone loses.
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