Mecum Harrisburg Saturday Auction - Todd Werner Collection

[Shelby_r_b]

I don't know if anyone else is watching this auction online (or in person), but it's just plain painful. 

The Todd Werner Collection (which is primarily made up of extremely historic race cars - Dick Landy, Richard Petty, etc.) is crossing the block at no reserve (with the exception of the Richard Petty Superbird racer)...and it's not good.  Looking at the hammer price versus the estimates...let's just say there's no joy. 

I couldn't tell you for sure that the original estimates were realistic, and the cars are selling for 25% to 50% of their estimates.  I just watched a car estimated at $800K to $1M hammer for $200K.  The worst part?  The owner (Todd) is up on the block in a bright red shirt behind the auctioneers and you can see the disappointment on his face as each car crosses.

Brutal. 

[2112]

https://www.mecum.com/auctions/harrisburg-2019/collections/todd-werner-collection/


IDK, those look like market correct prices. Not record prices, but I am seeing about what I would see from a private listing.

Of course he still has to pay the house.   

I think it would possibly worked better if he didn't sell everything at one time.

?   

[Shelby_r_b]

https://www.mecum.com/auctions/harrisburg-2019/collections/todd-werner-collection/


IDK, those look like market correct prices. Not record prices, but I am seeing about what I would see from a private listing.

Of course he still has to pay the house.   

I think it would possibly worked better if he didn't sell everything at one time.

?   

Agreed, or if he hadn't sold almost all of them at no reserve.

[Shelby_r_b]

Intersting.  I just looked at the Mecum website, and they've taken down all the estimates for the Todd Werner Collection.  Usually, they leave the estimates up after an auction - at least from what I've seen in the past.  I'm guessing this is an attempt to ease the situation. 

The Steven Juliano Collection from Mecum Indy back in May still has the estimates up.   

[Bill]

Location, location, location.

[Greg]

Looked like reasonable market prices for the cars to me.

[2112]

Just too many auctions as well.

[Harris Speedster]

IMO,
The Sox and Martin Hemi cuda, and the Dyno Don car were the best shown for auction.
Yep, location location location as Bill said, and too many auctions at this time.
Maybe a Rivian would be a good future bet? Ford invested 1/2 Billion in the Company.

Respectfully submitted
John

[CSX 4133]

Race cars tend to be a more volatile sale item, and the buying public for them is very small compared to your typical classic car purchaser. I would think an auction during the Monterey Speed week would have been a better fit.