Producers' Pick | Dave Magers: Record Setting Year for Collectible Cars Thanks to COVID

The more you listen more, you'll know it's Brian Gill made very welcome back. This is a special segment want to break from the news and imaging invasion of Ukraine. What I do with Dave.

Badgers is the CEO of Mecca margins been doing that since 2013 day welcome. Thank you Brandon for having the word were still reeling a bit of what was a spectacular event in December, Florida lasted for 11 days and ended last Sunday with a world record which is what kind of record we set the record for the highest sales total of any collector car auction in history at $217 million total.

So these are cars they people brought down of their own to sell the network consignment auction company show all of the cars. It could come to her options are consigned by individuals in big collectors and for this particular auction in Florida which has long been the largest collector car auction in the world that we had 3500 cars that go across the block.

Over 11 days.

What is happened during the pandemic that's affected your business if you see people diving into their cars try to get that. What was the muscle car they wanted or reconditioning the one they have since we were backed auction and in July 2020.

What we noticed is there's been a huge influx of new participants in the collector car hobby and because of that demand has increased substantially and supply is very slow in catching up to that demand as collectors see prices starting the rise of bringing the cars auction. Consequently, we seen prices for old vintage cars up anywhere from at the bottom, 20 to 30% of what they might've been before to at the top, sometimes three and four times what what cars will work previously and when you talk about cars that are wanted. Will cars we target old models well wheat we typically deal in 60s and 70s American muscle cars recruited Corvettes Mustang Boss 429 but that an option as big as this. We also had a great number of late-model exotics Lamborghinis for Aris for GTs that did exceptionally well and we had a considerable number of prewar cars and even several movie and TV cars again brought the top dog. I imagine couple reasons why this matters so much now number one people have more time to actually do it.

Some people have to work from home. Some people lost their job.

Some people work you know it did their job was faded out over there not work as many hours they don't have to commute and number two is the people diving into themselves little bit try to do something they enjoy.

Yeah, I think a couple of things have fueled the fire in the collector car hobby number one. I people set at home for a long time in 2020 2021 watch television and all of our auctions are televised and so we saw an influx of new customers that never knew about the collector car hobby before never knew about become auction or come to the market and then as we sat home and couldn't travel couldn't like to dinner couldn't go to movies discretionary income built so we now had money to buy that that collector car treasure. We wanted for quite some time and then finally I think it's just a recognition of our own mortality that you and I was going to do that someday and can for a great number of things someday has become today. I guess so. And when you talk about your last show will you said an auction record of hundred $76 million. Give us an idea of the models. It showed up to impress you.

Well, I think there there were a lot of surprising cars across the block we had a world record Mustang that sold for $3.75 million that was the 10 miles driven Mustang 10 miles letting became very familiar from the four verses for our Navy. I think the most surprising to me. I was a 1936 glacier national Park tour bus was a beautiful vehicle.

We had no idea what that kind of a vehicle might bring at the auction. We were thinking maybe a couple hundred thousand dollars. The brother million $430,000. So it's of those kinds of surprises that we've been seeing really across the collector car market from prewar to exotics and everything in between. What I knowing these names it would buy it number one. I know a lot of monies going to Florida where you held it so that explains one thing number two is due to of where these people get this money from Mike who are the a lot of them are significant collectors. It's not unusual to to run across the collector that might have 100 or 200 cars in their collections and are always looking to add to the collections you I would say the vast majority of buyers at our our auctions are just a guy that has always wanted 1970 Mustang and Dana finally came to the auction has one car you saved up little money and he bought the car that you know maybe had in high school. Or maybe it's the car he wanted in high school will have some kind of emotional attachment that draws us to certain car so you you run the gambit from I just want to have the car in my garage because it have some history with that kind of a car all the way up to you know those that are there collecting us investments so take any testing using now when you buy a car you score this a check to Carfax people really care about the history of the car. How many owners how much body plastic is on it. How much is reconditioning and which is original provenance is very important to the collector car.

The ability to track the history. Most of these cars have been restored at some time in their lives. Maybe more than once. There are quality of restorers and there were stores that don't do such a good job so restored the car. How good a job they did.

What's the history of the car whose own the car along the day on the car. All of that is relatively important probably love the one thing that's most important when you're buying a used car that's not important. Collector car coming miles does it have these are 5060 7080-year-old cars and miles doesn't really matter because as I said they've all been restored to begin what alright so people want to catch up to two next show how they do it well you know Tamiko.com MEC UM.com. Our next show actually starts next week is the world's largest collector motorcycle auction at Southpoint Casino in Las Vegas in the next car show will be in mid-March in Glendale, Arizona at State Farm stated people find you online to double check this and see how to get there. Tamiko.com will have a complete list of all of our auctions. Not only is a list of all the auctions but for each auction. It'll show beautiful pictures and descriptions of each vehicle that's going to be offered at that auctions well they match to stay so my CEO of Beckham auctions appreciated that. I think you got a go to bring to me.com, by the way, and if you have a comment about segments like this. Also, if you want to order any of my books present a freedom fighter still doing well. Sam use the avengers. Of course Andrew Jackson miracle of New Orleans. Thomas Jefferson, the Tripoli Pirates are George Watson secret six I did actually personalize them and send them out to you. That's how sophisticated my system is going from Fox news contrasts network subscribe and listen to the tradeshow refund just for federal prosecutor and four term US Congressman from South Carolina brings you a one-of-a-kind podcast. Subscribe and listen now by going on just.com