02/02/2019
Well said Joe Abbate.
Mecum motorcycle Auction in Las Vegas: Now that the smoke has cleared, here are a few thoughts.
1. If you own the same model bike that exceeded "fair market value" in Las Vegas, the value of your bike didn't magically go up, please don't think it did. One sale has never dictated the market.
2. If you own a nice clean race bike that you see selling on eBay or anyplace else for $2500.00, when you take it to Vegas, its still a $2500.00 bike, you might see a bit more, but don't expect to see $7000.00.
3. Contrary to what some may think, buyers aren't throwing back Martini's two at a time before bidding. They know what they are doing and probably inspected the bike for two days before it hit the block.
4. My theory stands true. "Show me a collector who's experienced buying a good platform bike, understands the diligence required to source parts and commissions someone to restore it at a fair price and I'll show you a buyer paying what some consider to be TOO much for a bike.
5. I've read gripes about how Mecum's fee of $400.00 to register a bike is ridiculous. That fee prevents a classy auction environment from becoming a flea market circus with dreamers selling junk. Think of it as a sign in front of a nice restaurant: "gentlemen require jackets."
6. Every year when I or someone else posts auction results, there is always a certain few who say "this is ruining our sport, it will become similar to the hot rod market exploding the cost of cars (bikes) and parts. They are all "doom and gloom" when in fact they should be grateful the hobby is getting deserved recognition.
7. I've read comments with guys claiming "next year I'm bring my bikes there to sell." If you're thinking of scoring maximum dollars, I'd advise you have a quality rebuild/restore or a very original and desirable bike with a sensible reserve. This years "$10,000 1974 Honda CR 125" can become next years "reserve not met at $7500.00."
8. Consider the cost to get there and have a bike in the sale. There is that fee again, $200.00 to $400.00 per bike and a 10% seller premium. Add in the cost of driving to Vegas or having your bike shipped, renting a room for several days, food, gas etc. The "buy in" isn't cheap.
9. It's Vegas and its a crap shoot. Many will scream about the Maico 490 commanding $15,00.00 being unconscionable. I saw a NEW BSA B-50 MX not reach reserve at $10.000 and a Malcom Smith owned Husky, confirmed race bike (late 60's I believe) not meet reserve at $47,000.00. Not everyone walks out clicking their heels.
10. Would I pay $18,000.00 for a "Honda 50 Monkey Bike?" No, the bike doesn't interest me at most any price. Neither do Pez dispensers or Hot Wheels cars. I mentioned Pez and Hot Wheels due to collectors of those items paying tens of thousands of dollars for them. When I see that, do I become infuriated about how people ruined the Pez and Hot Wheels market? No, of course not. That's where their passion is, that's the cost to be in that game....silly as it may seem to any motorcycle people reading this.
11. I'm not sure why some vintage motocross people show disdain at the high prices seen in Vegas, its a one week event. If I had to give an answer, I'd say they become bitter due to not knowing the value of a bike to begin with and the cost to build it .......or perhaps the sin of jealousy and envy rule them. I'm hoping its due to not knowing the value of the bike, at least there's a remedy for that.
