Gary,
I don't know for a fact, but I doubt Earl's theory. The seller of this car
was a dealer with five or so cars there along with an employee or two to
clean and handle them, etc. He was not a regular Healey enthusiast/private
party. This was a car that I sold to Rick many years ago as a restoration
project (although it was (barely) drivable).
The top bid for the car was $51,000 (the $52,000 bid was cast by the seller
himself). If he had accepted the $51,000 bid, he would have pocketed $46920
after paying his 8 percent seller's commission, but still had to pay all of
his other fees and expenses (entry fee, parking, transport, etc., etc.) from
that figure, and so would have actually pocketed maybe $43-44,000? That
would have been a pretty low net price for such a nice car.
As it was he paid all of those expenses PLUS 16 percent in commissions (both
the buyer's 8 percent and the seller's 8 percent), meaning that he forked
over $8,320. In the end it must have cost him something like $10,000 for
the privilege of continuing to own his own car! I talked with him
afterwards and he was not, understandably, a happy guy. I don't know how he
did on his other cars (one was a lovely white XKE), but surely the expense
of the Healey set him back a lot.
Complete report and insights in the March issue of Austin-Healey Magazine
(www.healey.org).
Reid
Reid Trummel
Portland, Oregon
100, 100M, Ski-Master
---------------------------------------
Date: Thu, 3 Feb 2005 14:29:42 EST
From: Editorgary@aol.com
Subject: Healey Den Car
Earl Kagna told me that as far as he knows, the car put up for sale at B-J
and bought back by the owner is owned and was offered by the person who some
years ago had Rick Regan help with his restoration. Reportedly it had a bad
outcome, with litigation. So, doesn't sound like a fresh restoration , but
may
have
been offered by an owner who'd heard Healeys were getting big money at B-J
and hoped to recoup his own losses by selling his car for top dollar.
Anything
less than a fresh restoration being sold at a good time in the schedule that
was offered $60,000 should have taken it.
Cheers
Gary
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