| collegeboy - 1/16/2008 23:14
Unless something changed, they collect 8% from the seller as well. You'd think it's a nice scam, until you start adding up all their costs at Scottsdale. Tent and site rental, free food and booze, etc.
On a 100,000 car, they'll collect 10,000 from the buyer (12,000 if it was a phone bidder) and 8,000 from the seller. So 18,000-20,000 on that. Their costs at Scottsdale aren't as much as you'd think because they own the land and the tent has surely been paid for for a while. And the boost in prices and sales #'s from all the TV stuff has surely helped (as well as the broadcast rights they get paid too). Their profit margins are huge. |
Barrett Jackson auto auction on TV
