TouringGodet
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Continuing the recent discussion about auction strategies, but now in its own topic...
The recent Barrett-Jackson auction had 3 very identical 2006 Ford GTs, and they hit the auction block in descending mileage. The first car with 3000 miles on the odometer, sold for $533K. Later, a second one with 288 miles sold for $495K. Third one, with 77 miles, sold for $462K. Go figure. One theory is, the bidders, thinking the later, lower mileage cars would go for even more, were more aggressive in bidding for the earlier cars, the ones with the higher mileage.
The recent Barrett-Jackson auction had 3 very identical 2006 Ford GTs, and they hit the auction block in descending mileage. The first car with 3000 miles on the odometer, sold for $533K. Later, a second one with 288 miles sold for $495K. Third one, with 77 miles, sold for $462K. Go figure. One theory is, the bidders, thinking the later, lower mileage cars would go for even more, were more aggressive in bidding for the earlier cars, the ones with the higher mileage.