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The 2018 Summer Automation Collector Car Auction Challenge


#1

Previous Collector Car Auction Thread



One of the most fascinating events in any part of the real-world car hobby is the collector car auction, where a wide range of the finest and most significant cars in the world cross the block, bought and sold in a matter of minutes, sometimes for outrageous sums of money. That excitement has been missing so far in the Automation community…where there are plenty of fantastic cars, but nowhere for them to “sell”. Ever looked at a Bonham or an Erin and thought, “man, I would love to put one of those in my garage”? well, now is your chance!

Challenge Description

So, Who Can Enter?

Anyone can enter this challenge; due to the way it is designed, it will be open to both the Kee and UE4 versions of Automation!

What Kind Of Cars Can Enter?

Any car can enter, from any model year. Classic cars older than 25 years old are preferred, but if you have a significant car from any era, even if it’s brand new, it will be fine to enter. There are advantages to entering more valuable, prestigious or significant cars though…more on that in the rules.

How Will The Auction Work?

Each car submitted to me will be fed into my spreadsheet to be given an estimated value, based on it’s list price, prestige, age and other factors (described in the “How Do I Sell A Car?” section below). When that car’s lot number comes up, it will go on auction in this thread for 36 hours, or until no new bids have been posted for at least six hours, whichever comes first. The highest bid when the auction closes (called the “hammer price”) will “win” the car, and the auction will begin anew. If the auction ends early, the new car(s) will be posted at the same time as though the auction went the full 36 hours (just to keep my personal schedule under control mostly). Depending on the number of cars posted for auction, one to three cars will be auctioned in each 36-hour period.

Before the auction, a fancy catalogue will be published, with an overview of each car in the auction, including lot number, its special selling points, a quick description of the car’s condition and history, along with an estimated price.


How Do I Bid?

First, you need to send me a private message that you would like to register as a bidde" - I will then reply to you with your paddle number and the amount of money you can spend in the auction. The amount of money you will be assigned is random within a set of constraints, with a mode (most frequently occurring value) of $1,000,000. Tiered bidders have been removed, and the average money has been reduced considerably from the first auction.

If a bidder is also a seller, any proceeds from their car sales will be credited to their account, less a buyer’s fee subtracted from the hammer price. The buyer’s fee is 15% on the first $200,000 of the hammer price, then 10% for each dollar higher than $200,000.

To bid on a car, simply post your assigned paddle number, along with your bid in this thread, like this:

Lot Number 100, Paddle 000, $450,000

Once the auction closes, the bidding ends and the car sells for the highest bid at the end of the auction (the hammer price). All cars crossing the block will be sold with no reserve, meaning that they sell for whatever the hammer price is, regardless if it meets the estimate in the catalogue or not! Bidding increments will be situational, depending on the estimated value of the car, and will be posted with each new auction.

In this auction, the last five minutes of each auction block will feature a “sniper rule”. At the beginning of the auction process, each bidder will receive a limited number of non-refundable “snipe bids”, which can be used to bid in the last five minutes before the auction closes. All bids in the last five minutes, regardless of them being the winning bid or not, will count against your total of snipe bids, so use them carefully!

Also, note that the Credit Gasmea (the official bank of CM Auctions) will not allow bidders to spend in excess of their current funds under any circumstances.

Since there is no real money changing hands, I encourage all of our participants to bid often - more bids spawn more bidding wars, and more bidding wars spawn more excitement!


How Do I Sell A Car At Auction?

Send me a private message with your exported car files (either the .zip from the Kee version or the .car file from UE4), along with a couple of beauty shots and a completed version of this form:

Username: your forum username
Car Make: your company’s name
Model Name: your car’s model designation
Country of Origin: where was the car built
List Price New (including markups): from the “Markets” tab in-game
Car Status (Original, Restored, Modified): see below for description
Production Run (Limited, Low, Medium, High): see below for description
Race Car (Yes/No): Was this a race car, or a street car?
Rare Within Production Run (Yes/No): see below for description

Seller Description Of Car:
Write a few sentences describing why this car is special - you’re trying to maximise the sale price, after all!

Car Status

Cars going for auction will have one of three statuses assigned to it - Original, Restored or Modified.

Original cars must be “numbers matching”; in other words, the trim year and engine variant year must match, or be matches within reason. Original cars will have a boost in value in some circumstances compared to the other two categories, but they can also cross the block in very poor condition, which will diminish their value. New cars (from 2017, 2018 and 2019 model years) will be classed as Original, unless otherwise specified.

Restored cars must also be “numbers matching” as well, but they will have the benefit of a minimum condition value of 75 percent, which will help hold their value above a certain level.

Modified cars do not need to be “numbers matching”, which will give them a diminished value. However, it does mean that you can take an old trim and update it with a different or more modern engine and interior fittings, which can dramatically increase the prestige value of the car - and since bidders will be scored partially on the prestige of their purchases, a Modified car can give you a good score for very little money!

Production Run

Production Run affects the rarity of your car, and is representative of how many cars your company produced (or plans on producing) of that particular trim over its lifetime. This table is how it breaks down:

Production Run Value Total Cars Built
Limited Fewer than 2,000
Low 2,000-20,000
Medium 20,000-200,000
High More than 200,000

Rare Within Production Run

If your car is Medium or High Production Only (with one exception), you can specify if the car is rare within its production run. Perhaps it has an unusual engine option, or it’s a particularly desirable colour…all of these would be reasons to say “Yes” for this question.

Low and Limited Production cars are eligible for this under one circumstance - that they are either the first or the last example of that particular model going on sale, and are not eligible to have multiple copies of the same car be auctioned off with this tag.


How Many Cars Can I Enter?

As many as you like! If I see fit to cut cars from the challenge, I will cut them in the reverse order they were sent - fourth submissions will get cut before third submissions, and so on, so that I will not cut a car from someone who has only sent one.

How Much Will My Cars Be Worth?

I have no idea, honestly - condition, racing history and rarity will all be random values. We will almost certainly have cars that sell for $20,000, just the same as we could have cars that sell for $20,000,000 as well.

When Do I Need To Submit My Cars Or Enter As A Bidder?

The deadline for submissions for this auction is Monday, July 23rd at 2359 GMT (7:59 PM Eastern Time, 1:59 AM CEST on July 24th)!

Can I Just Watch From The Sidelines?

Yes, absolutely, and non-participants are welcome to post in the thread too, if they like, but I would rather see you on the auction floor than off to the sides watching!

I Like To Win. How Do I Win This Challenge?

Well, there will be a number of ways to win!

As a bidder, if you end the auction with the highest total prestige purchased, that’s a win. If you buy cars that sell for the combined lowest percentage of their estimated values, that’s also a win. If you buy a car with the single lowest percentage of its estimated value, that’s a win too.

As a seller, if your cars sell for the highest percentage over their estimated value, that’s a win. If your car sells for the most of any car in the auction, that’s a win. If your cars sell for the highest combined value, that’s a win. Note that sellers are allowed, and even encouraged, to post while their car is up for auction, to help pump up interest!


Auction Status

The auction is open for bidders and sellers to register!


#2

Can we use the money we got from the last auction ?


#3

Do you know yet if the catalog is still using 4 pictures per car, or should we send more/less?


#4

All the money from previous auctions is gone. Really, I had to; one of the reasons why things got so out of hand was that there was just too much money chasing around not enough merchandise.

The catalogue will be the same as last time. If you want to send four pics of each car go ahead, but at least two per car is appreciated!

Also, I will be publishing a quick guide for sellers about what makes a strong auction lot and what doesn’t. To tide you all over until then, I will say this much; this is a beauty contest first and foremost. Cars with obvious care and attention going into their design sold far better on average than rush jobs…quality is far more important than quantity!


#5

I understand why each bidder now gets a limited number of snipe bids - they were so common in the previous auction that it felt unfair at times. Hopefully this second auction won’t be as rife with them.


#6

#7

So You Want to Auction Your Car? A Quick Guide to How The Auction Works

Based on the previous auction, the cars that were successful could be divided into two different categories; cars that sold for considerably more than their estimated value, and cars that sold for large dollar values - there was no crossover whatsoever between the cars that beat their estimate by the largest amount, and the cars that sold for the highest dollar values. Both of these categories had some distinct characteristics:

Highest Percentage Over Estimated Value

  • Generally low list price
  • Usually low to very low prestige (but not always)
  • More of an everyday or working type of vehicle (family cars, work trucks, etc)
  • Typically very carefully designed, with good style and thoughtful use of fixtures

Highest Dollar Value

  • Fairly high list price (though not always the case)
  • Average to high prestige
  • Tended toward older designs (early 1970s and older especially)
  • Very carefully designed, with good styling and thoughtful use of fixtures

You will notice that in both categories that the cars that did well were very carefully designed and were well-styled. As I mentioned earlier, This is a design competition in essence, and it should come as no surprise that the best performing cars were the best to look at!

With that, here are some things to avoid for any prospective sellers:

  • Modern cars tended not to sell for much more than their estimated value (unless they were helped along or were very special in some way)
  • Race cars were a real wildcard; some sold very well, others sold very poorly
  • Cars with haphazard or careless design and fixture use tended not to generate much excitement in the bidding process

Hopefully this gives you all some insight into what makes for a good auction lot and what doesn’t!


#8

OK, with two weeks left before the auction lot submission deadline, here’s what we have so far:

Auction Stats
Total Bidders 10
Total Auction Lots 26
Total Estimated Value $6.515 million

Keep the cars coming in - and if you don’t want to submit a car, you’re always welcome to sign up as a bidder - we always need more bidders!


#9

Coming up for sale in this auction will be this restored 1938 ACA Corona.

Information on the car’s origin can be found here

The car has been painstakingly restored by 75 y/o Jeremiah Woodard, after he found it hidden away in a barn under a tarp in 2007.

After 10 years the car was fully restored using spare refurbished parts as well as brand new custom fabricated parts, made to specification to ensure authenticity.

Now as Jeremiah reaches 76, he fears that he will no longer be able to enjoy the car and feels that it should belong to a new owner, willing to look after such a rare car.

And with only 2100 of these cars ever being made during the period 1938-1942 and 1946-1948, this is indeed almost a one of a kind.


#10

It is a rare moment in history as, for the first time in 21 years, the Evanham Collection is about to lose a vehicle. After business Entrepreneur Michael Evanham started the collection, he has gathered over 400 cars into his huge museum, ranging from the bizarre SpaceDragon Minibus to the Beautifully crafted Sakura Dutchess 25x.

Here, however, we see the legacy that started Bramhalls rise into the history books as one of Britain’s Great Automotive manufacturers. The Firenza Super S.


This particular model is Production No. 2, and was the first Super S sold on the market. It has shown itself to be one of the most beloved cars ever produced by Bramhall. In fact Michael Evanham, the founder of the collection, had taken this exact model to goodwood on several occasions despite a lack of factory support from Bramhall (Who didn’t start officially attending Goodwood until 1992).

As it stands this car has laid out a legacy with its beauty and finesse, and now it will be up for sale at this years ACC Auction.


#11

There are four days remaining to submit auction lots; this is the rundown of where we stand:

Auction Stats
Total Bidders 18
Total Auction Lots 39
Total Estimated Value $12.200 million

Keep the cars coming in - and if you don’t want to submit a car, you’re always welcome to sign up as a bidder - we need more bidders!