I watched alot of the coverage on speed channel too. Man, $400k for that Lincoln Zephyr custom hot rod? Still can't believe it, but to each his own.
And the prices those 55-57, and the 58 Chevys were fetching - I knew they would get big bucks, but > $100k was a surprise.
The only downside was those "ringmen" that foment the bidding competitions and all that ridiculous screaming and arm waving. Part of the game to max the sale price but really annoying in my opinion.
To cap it off, the buyers have to pay a 8% premium, in addition to the sellers paying a 8% fee. Seems like gouging to me (from the buyer's perspective). The buyer probably already paid a reg or admission fee, and the "ringmen" do everything they can to drive the sale price up, and thus the buyer's 8% on top.
Atleast when one buys a house, the seller pays the realtors, at 4-6%, and that can be negotiated. Buyers pay other settlement fees, of course.
Oh well - free enterprise/markets and capitalism in action.
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" ..... I ain't no bandleader!!"