Mecum rule: if you raise your own bid to meet the reserve, the car is yours! Magers, a former insurance executive, For years, I thought it was his way of avoiding having to make a decision. In todays marketplace, the restorer comes into it as well. Alternatively, you can have a $30,000 car with a $20,000 bid and if every seat is full, the guy will sell. We try to adhere to that in both our professional careers and our personal lives. Is she Pregnant? The standard bidders premium is 10%, 12% for those bidding online or on the phone. Weve got nine grandkids, and we like to go places. Like. In turn, Dana and his wife raised Frank and his three brothers, all of whom are now in the car auction business. At present, it doesnt look like Mecum Kissimmee will do anything but get bigger, and theres no auction out there in a position to challenge it for the lead. When provided, we also incorporate private tips and feedback received from the celebrities or their representatives. Whats the rarest car youve auctioned? How about a 2008 Pontiac Solstice GXP for $6600? Franks reported annual income is about $100 149,999; with a net worth that tops $100,000 Its owned by American You dont have to own them to enjoy them, Mecum answers. Maybe in three years or so Id buy one, but that wouldnt be for business. Dana and Patti currently live in the Geneva Lakes area of Southeastern Wisconsin. Send us a note: [email protected]. Most public auctions will put these sellers at the beginning of the sale because, on average, they offer the best inventory and the most reasonable selling prices. 4 How much did the Bullitt Mustang sell for at Mecum auction? Dana was born in 1954 in Monmouth, Illinois, the son of renowned fleet dealer Edward Mecum. In January of each year, Mecum holds both the largest collector car auction in the world in Kissimmee, Florida, and the largest collector motorcycle auction in the world in Las Vegas, Nevada. Mecum gets so many numbers-matching vehicles that the company employs a team of researchers to verify them. What are your favorite cars in your personal collection? Finally, my wife, I bought it. How has the plane enhanced your bottom line? Over the last five years, weve been selling more collectionspeople with 15, 20, 30 carsand those are the people we are getting to with the plane. So my two-and-a-half-hour flight winds up taking nine hours when you count the drive to the airport. How Our Fees Work. They are nimble and creative. All rights reserved. The fact that it is broadcast on TV means its even more important that theyre showing the world they have a good program and theyre enforcing it, Mecum Director of Company Relations and TV Commentator John Kramer told me on the phone. (B) Should Buyer default upon his purchase in any manner, for any reason, Buyer agrees to pay Barrett-Jackson the full sum of both the buyers premium 15% of sale price live (17% absentee/internet) and sellers commission (15% of sale price). Shirley Jean Mecum, 87, of Fontana, WI, passed away on Monday, August 24, 2020, at home due to natural causes. Courtesy of Mecum Auctions, Inc. Other annual events include a massive $100 million extravaganza each January in Kissimmee, Florida, which lasts for 10 days and boasts 3,000 cars on show. Audi RS2. by Spencer Johnson many years ago during my career in the financial services sector. We'll be in your inbox every morning Monday-Saturday with all the days top business news, inspiring stories, best advice and exclusive reporting from Entrepreneur. In June 2018, the 1964 Ferrari 250 GTO became the most expensive car in history, setting an all-time record selling price of $70 million. The 2015 Mustang had a total of seven recalls placed on it. "There are worse places to put money than in a collector car," Kramer told me. You cannot own everything, but you can keep track of the cars you love.". So we are going to have a lot of inventory, but are we going to have enough of the kind of inventory the crowd supports as it ages? Mecum Auto Transports service isnt overnight, but the prices are reasonable. Mecum and his wife, Patti, are the parents of four kids. Dana Mecum, founder/president, Mecum Auctions (Photo: Jason Brant), The era I come from, everyone had gas and oil in their veins. "Some of them I have owned multiple times. All Rights Reserved. Immensely. This address is also associated with the name of Ashley L Jones, David E Lorentzen, and four other individuals. Manage Settings I know what I can do well, and I have to let other people do what they can do well. Auction, With an annual inventory of around 15 thousand automobiles, the business now runs more than one auction every month. 6 Who bought the Bullitt Mustang at the Mecum auction? Mecum Kissimmee 2021. And two, for the same reason, the older generation wants power steering so they dont have to wrestle with it any more. Dana Mecum Net Worth: Dana Mecum is an American businessman who has a net worth of $45 million. His achievement stems from the ascension of diligent labor. I live by several. Lot F88. Dana Mecum (PHOTO: Jason Brant), Ive seen it a thousand times: a guy turns down the best offer hell ever get because there arent enough people in the room.. Those 30 or 35 percent that dont reach the reserve are tagged with The Bid Goes On as they roll off the block, and are dispatched to a tent where, quite often, the owner and a buyer negotiate in private and sometimes reach a deal. It hadnt been seen in 40 years, Frank said. The Highland Green Ford Mustang GT390 is famously unrestored, bearing the scars from the filming of the legendary car chase in the 1968 film, plus over 40 years of day-to-day use. He is passionate about collector cars. Porsche Carrera GT. And evidently, Mecum's fondness for GTOs hasn't faded much over the years. We began to shop our plans around to state and local health officials, governors, mayors and venue managers. Just do what's right, and in the long run, it will be the right decision. He and the car later featured in Series 18, Episode 7 of the motoring show before his ill-fated tenure at the helm of the show. Mecum Auto Auction, which is currently televised on Discovery HD Theater, was founded by his passion for vehicle collectibles and muscle cars. Thanks to television, the auctions reach a wider audience, providing 600 hours of annual programming on NBCs Sports Network, where the events draw more viewers than anything except Europes Premier League football. I loved the romance and the history about them, and I really liked the fact that customers werent always wanting my car. I always handle the search for capital partners just like a job interview. Lot F121. Dana Mecum Bio, Height, Weight, Profile, Net Worth, Sara Metts Bio, Age, Wiki, Height, Husband and Net Worth. vZUY8nqSWWO69ZeDWWlVMxZNgYdw6DC7CLJ6f0IxCGYrWj32oaG9T0fZ6vjlUktT, Highland Green 1967 Ford Mustang GT driven by Steve McQueen in the film Bullitt,. Ferrari F40. The legend suggests that in 610 A.D.give or take a decadethe Prophet Muhammad, in order to impress upon his audience that his teachings were appropriately incandescent, commanded the nearby Mount Safa to come to him. Lot F120. We get most of the single-car consignments from television and internet exposure but the plane helps us get to the collections and that helps increase our bottom line. What was your thinking? he also gained the title of Assistant to Dana Mecum. The company is run by the entire family. Who is the new host of Dancing with the Stars? Its important to have a crowd [at an auction], whether theyre bidders or just attendees. 5 How much do Barrett-Jackson Auctioneers make? Required fields are marked *. Im a car guy, but I dont own anything like this.. Sean Kiernan, who sold the iconic Bullitt Mustang last week for 2.6 million has confirmed that the cars new owner will not restore it. Now theyre down to a delay of only 1.5 seconds. They are driven by their passion. And finally, theres the TV package, which helped launch Mecum toward worlds-largest status. Dana Mecum started his company, Mecum Auctions, while sitting at his dining room table. Before the pandemic, absentee bidding was less than 10%, and its currently averaging 20-30%. Dana's focus, interest and expertise in the car business comes naturally from his family heritage. The TV presenter said, All credit to my wife, who agreed to move when our daughter was five weeks old and our son was 3, and that is a massive undertaking, to Ross King during an appearance on ITVs Lorraine. I bought 40 semi tractors. Residential Links: www.mecum.com By: Champion3 Advertisement Around the World Mailing List Advertisement Gregg Kunes' house Yerkes Observatory James Athan's The recession put a lot of those people out of business. 2023 WikiBiography.in | All Rights Reserved, Click to share on Twitter (Opens in new window), Click to share on Facebook (Opens in new window), Click to share on WhatsApp (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Tumblr (Opens in new window), Click to share on Pinterest (Opens in new window), Click to share on Telegram (Opens in new window), Click to share on Skype (Opens in new window). The auction house competes with Barrett Jackson, but Mecum says it is ranked number one in the world with number of collector cars offered at auction and number of collector cars sold at auction. The series takes a behind-the-scenes look at Mecum Auctions, America's biggest collectable car auction facility. When looking for financing, make sure you are clear in your description of your vision, what you intend to accomplish, how you intend to get there, and what the result of your efforts will be. Mecums sell-through is typically 65 to 70 percent; it was 72 percent at the 2019 Mecum Kissimmee, with a total of $107.5 million changing hands. Look for partners that understand your vision, share in your enthusiasm for it, and are willing to customize capital programs to fit both your needs currently and in the future. Courtesy of Mecum Auctions, Inc. Dana Mecum, the founder and president of Mecum Auctions, is auctioning off several Some cities were unwilling to host a car auction no matter what precautions were taken, but Mecum has done its best to mitigate spread as much possible by cutting seating way back, allowing no more than two people per table, running temp checks at the door, providing hand washing stations, and of course, requiring masks. We started our own transport and financing businesses. Even if the guy you take with you knows nothing about cars, it helps to have someone who is on your side and you can talk to. Twenty years ago, all Duesenbergs were worth a million bucks. Finally, my wife, Karen, and I have always lived by the motto, "Leave it better than you found it." Auctions like that are marvelous and compelling and educational, but the odds of an average automotive enthusiast raising a bidders paddle when a 1939 Lagonda V12 Rapide Drophead Coupe crosses the block are scant. The tenants started calling me in the middle of the night to fix this and that. Accurately described by one commenter as the greatest Porsche ever made. Today Mecum Auctions is one of the largest antique, vintage, and collector car and motorcycle auction businesses in the world. Otherwise, the crowd quits bidding on that collection because they think the seller isnt serious. He said he had one for me. Yes, everybody in business likes to make a profit, but for an entrepreneur, I don't think that is top of mind. The program features Mecum Auctions founder Dana Mecum and son Frank. Eleanor (Mustang) Fiat Multipla. The full TV crew wont be there for the whole auction, but it will be there to host the broadcast live on NBC Sports Networkto ratings significantly higher than when coverage aired on the now-defunct Velocity network before 2014. Luckily, the buyer balked, because the business has thrived to the point where Mecum can now afford to get around in his own Cessna Citation Excel. Pin. They welcome adversity and challenge. Dana Mecum net worth is $45 Million. Long-term we think it will be OK, but the era I come from, everyone had gas and oil in their veins. A good example is Duesenbergs. Got a tip? Cars dont cross the block at Mecum until theyve been fully vetted. Dana is the president and founder of Mecum Auctions, launching the company from his kitchen table with the help of his wife Patti and a few close friends back in 1988. Mecum is offering up eight of his Pontiac GTOs ranging from the 1964 through 1970 model years, including some rare and highly coveted examples. Andrey knows everything from warm-up to hard workout. By clicking Sign Up, you also agree to marketing emails from both Insider and Morning Brew; and you accept Insiders, Visit Business Insider's homepage for more stories. The 2020 Mecum Kissimmee auction will sell cars for 11 straight days. If you dont want a vehicle, there are literally thousands of pieces of road art available, though the hammer price of a nice, original, porcelain neon sign can rival that of a car. For the first 24 years of Mecum Auctions, the organization achieved considerable success and was one of the leaders in the industry. Theres another desk that researches titles. Since 2003, Business Jet Traveler has been providing subscribers in more than 150 countries with aviation and lifestyle news, reviews, and features. We get to a lot of business we wouldnt otherwise get because of the time factor. At one point, someone offered to buy him out. Born in Monmouth, Illinois, in 1954, Dana Mecum was the son of famed fleet salesman Edward Mecum. [Almost all appeared to be over 50.] Dana and Patti reside in the Geneva Lakes area of Southeastern Wisconsin. See the age? The point being is that you will never get it exactly perfect the first time. These things have helped him get to where he is now one of the richest people on Earth. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. (PHOTO: Jason Brant), We get to a lot of business [with our own jet] we wouldnt otherwise get. Generally, the seller pays this fee, which is used to cover the preparation of the HOA paperwork and the registration of the new buyer as the owner of the property. How much does Barrett-Jackson Auction pay per year? Mecum asked for $500,000 because thats how much debt he had. In 2017 alone, Mecum handled 20,000 consignments, generating upwards of $400 million. The number currently linked to Frank is (319) 524-6331 (Qwest Corp). In 2008, before the banking debacle, 80 or 90 percent of our business was car dealers who would buy from us and then resell from little retail lots and in trader magazines. Maybe the buyer, for instance, offers a vehicle as a partial trade and the seller takes it-a detail that really cant be addressed during the actual auction. Thats a challenge if you do business in just one state, but since Mecum cars and buyers come from all over the countryand, we learned, some states are a whole lot easier to work with than othersexperience pays off. WebGus grew up in Chicago and today resides in Huntley, Illinois, with his wife, Dana, and their two sons, Dylan and Ryan. Because if you ever try to sell something you dont like or dont know anything about, youre going to have a hard time. We returned home to our corporate offices in Wisconsin not knowing what the future held in general, but specifically, what it held for Mecum as a live event organization. It also claims a number-one rank in the U.S. with number of auction venues and total dollar volume of sales. Mary E Mecum, Frank Mecum were identified as possible owners of the phone number (319) 524-6331. Which would be, as it already is, just enormous. When the initial shutdown came down six months ago, it all paid off, Frank Mecum told me. Muhammad unfortunately did not have access to bulldozers, but Larsondoes. Alfa Romeo Tipo 33 Stradale. And I dont have to fly the chicken and pig express [the airlines]. A friend, just to see if he could, applied for an unsecured loan right there on the premises, and to his shock, 2 hours after he turned in his application, he had $30,000 to spend. We engaged every employee in the process of planning for our future and the changes we were going to need to undertake. 1932 Ford Hi-Boy Roadster Spencer II. WebMecum Auctions is an American auction company specializing in collector cars. Other fees vary. Dana Mecum's GTOs. Mecum Auctions Bidding reached a sobering $10 million, but that didnt match the reserve. Dana Net Worth: Mecum is a wealthy American businessman with a fortune of $45 million. My wife and I are looking at getting her a 2023 Charger R/T with its standard 5.7L HEMI V8 engine, as this will be the last of the line for this awesome platform, noted John. Sellers pay a $99 listing fee, with the option to add our Plus photo service for an additional $250. An example of data being processed may be a unique identifier stored in a cookie. Which, incidentally, he did. The entire family is strongly invested in the Company. The journey to get here was anything from straightforward. Over the last 60 years our prices have gone up for four or five years, then theyve stabilized, then theyve gone down for a few years, then theyve gone back up [to a new high]. Just look back at the 2019 event for a taste. Lot S99. Patti Mecum is his wifes name. Even put the N number registration I wanted on itN50LD [for SOLD]. Mecumwho runs the Wisconsin-based, 300-plus-employee business with his wife, Patti, four sons, and CEO Dave Magersgrew up in the car business. We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2023. Ive told the other consignment guys, if they have a quick deal and other things to do, use the plane. Entrepreneurs do what they do because they have a passion for it. WebDana Mecum is known for Mecum Dealmakers (2014), Mecum Auto Auctions: Muscle Cars & More (2008) and Chasing Classic Cars (2008). In one far corner is perhaps the most interesting office here: Its essentially the detective bureau. The company is still owned by founder and president Dana Mecum, who ran the business with his wife and four sons for decades. Whats the most expensive car youve sold? In addition, theres Mickey Thompsons 1968 Bonneville Streamliner that Thompsons son, Danny, drove 448.757 mph; one of the 11 original Eleanor 1967 Ford Mustangs; and a 2019 McLaren Senna with 203 miles, the second of 500 built. Mecums first auction, in 1988, ended in disaster when 90 mph winds hit, followed by a storm of litigation from unhappy customers. If theres no one in the audience, you can have a $30,000 bid and the guy wont sell. Mecum was in the middle of an auction at State Farm Stadium in Glendale, Arizona, in March of 2020 when the world came to an abrupt stop. He had a pretty good reason. The confusion began when an obituary was run of his deceased close friend, Bill Grams, and media outlets began mistakenly reporting Mecum as deceased. We have 130 in the home office now. Today, people have computers and cell phones in their veins. Sellers can be emotional about their cars. Compare it to other Mecum Auctions: Chicago, 1000 cars. It runs through July 18. So far, the updates and adaptations seem to be working; the company is gearing up for its next set of events and theyre enthusiastic about selling and sharing their zeal for anything with an engine. We use cookies. The 5.7-liter Chevy crate motor was worth that. In the last 10-15 years, he started using a tablet on the auction block that keeps him up to the second on the auction price. Mecum and his wife, Patti, have four sons together and nine grandchildren. Money isnt as important as quality of life. Dana "Dealmaker" Mecum and his beautiful wife Patti celebrating 25 years in Indianapolis, Indiana! Were really a family business that grew up and got big, understates Dana Mecum, company president. Entrepreneur Staff Car shows, product launches, and automotive auctions nearly came to a halt this year for the sake of public health. Later in life, I realized how profound that simple statement was. Everything You Need to Know, Samuel Bower Age, Family, Girlfriend, Brother, Laney Beville Hayes Age, Wikipedia, Kids, Daughter, Net worth, Family, Height, Birthday, Bio, Bachelor in Paradise: Who is Alexa Caves? But every time they go higher, the lane gets thinner. The Mecum Auction Company is the worlds largest auction house for antique, vintage, and collectible cars and motorcycles. Through perseverance and with a deep passion for the industry, he has since grown the company into a thriving enterprise. Al Gordon was the first person to drive the car back in 1934. But I couldnt get my head around the expense. Dana Mecum Death | Obituary | Dead | Died | Funeral Plans - It is with great sadness to announce the passing of Dana Mecum. Its an unlikely place for an auction, and it started out small. The premier entry is the Highland Green 1967 Ford Mustang GT driven by Steve McQueen in the film Bullitt, one of two cars used in the filming. 1970 Plymouth Cuda Convertible Pilot Car. 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At Mecum Kissimmee, it costs between $350 and $1500 to auction a car, depending on the placement of the car in the auction lineup and how its presented in the catalog. If were selling a small collection with reserves, we try and arrange it so that the first few cars sell for sure. It was founded by Dana Mecum in 1988, and was originally based in Marengo, Illinois. The Mecum Auction Company is now the largest antique, vintage, and collector car and motorcycle business in the world. Indeed, his wife, Patti, works the auctions, as do their four sons. 3 How much is the buyers premium at Mecum? Seeing as his father owned a Pontiac dealership, GTOs have been a part of Mecum's life since he was a kid. Muhammad, thinking on his feet, then noted that it was a good thing God left the mountain where it was, because had it moved, it could have crushed themall. The NBC Sports deal, which was recently re-upped through 2024, includes airings on the Sky network in the United Kingdom and Europe, as well as on NBC here. When the Bullitt came out of hiding, still banged up and rusty, it broke Mustang sale records with a final sale price of $3.74 million, which includes the buyers and sellers fees. Lot F140. His wifes name is Patti Mecum. Of course, with tremendous growth comes growing pains. AMC Gremlin. Kraman hired on with Mecum in 2006 to help Dana take the company to the next level, he said. In 2014, we sold a 1964 Ford GT40 [prototype] for $7 million. Usually these fees are $1000 or less. Did that Chrysler really come with a Hemi engine? Dana Mecum, the founder and president of Mecum Auctions, is auctioning off several muscle cars from his personal collection. Technology, performance and design delivered to your inbox. Webdana mecum lake geneva house dana mecum lake geneva house Regardless of whether it be equity or debt, look for a partner that brings something to the table besides just dollars. He is mainly involved in weightlifting. WebDana Mecum's house. It went for $7700. According to the man who restored the car and brought it to the 2017 Milwaukee Concours dElegance, it is Dana Mecums favorite racing car. If your car does sell, great, but know that youll pay a sellers commission5 percent of hammer price without reserve, 10 percent with a $1,000 minimum on eight of the auctions 11 days. As a result, the Mecum Auction Kissimmee will continue to grow. We built a new stage and TV set. He has subsequently built the firm into a flourishing corporation through tenacity and a genuine enthusiasm for the sector. There have been speculations that he has been battling Cancer, but neither Mecum nor his Company has confirmed this. If they are, its easier to get them to a decision. There are no other seller fees on BaT. Through perseverance and with a deep passion for the industry, he has since grown the company into a thriving enterprise. However, the businessman has yet to reveal any information regarding his actual birthdate. Year: Net Worth: 2020: $19 Million : 2021: $19.5 Million: 2022: 20 Million: although hes married. In 2009, we sold a 1965 Shelby Daytona Cobra coupe for $7.25 million. Dana Mecum has always been a car guy and comes from a long car-focused lineage. How did you get into this business? Personal: Lives in Lake Geneva, Wisconsin, with wife Patti. In 2020, they lost four events and postponed three of them, and their 200+ workforce scrabbled to adapt. Articles may contain affiliate links which enable us to share in the revenue of any purchases made. Theyre here for the entertainment. His money was gained as a result of his enthusiasm for automobiles. Trending. | From the Jan. 2020 issue Mecums net worth is primarily generated from his Mecum Auction vehicle auction business. And how about that ultra-stretched, black 2006 Hummer H2 limousine? The Ultra couldnt make trips to the West Coast without stopping for fuel. How important has television been to the business? In the top 10 was a 1930 Duesenbergyes, Mecum does have some true vintage classicsand a 1954 Chrisman Bonneville Hemi Coupewhich, in 1954, ran 196 mph at Bonneville, and was featured on the cover ofHot Rodmagazine. Then I had a flight from OHare. Currently, Dana Executive coach and Merging Path CEO Brooks E. Scott reveals what employers should do to stop burnout before it starts. Subaru. You don't need to know and be an expert in everything. About 19 or 20 years ago, Mecum purchased the 1934 Gilmore Special, a racing car built by Myron Stevens for Art Sparks and Paul Weirick. I used to have Corvettes and muscle cars, because those are the cars I was driving when I was a kid. They have four Honda usually falls at the top of the list of most reliable cars. Inside and in adjacent circus tents sit 795 carseverything from a much-coveted 1937 Cord to a much-maligned 1976 Ford Pinto. Buy what you like, not just because you think its a bargain. But when I started this business, customers would always want those cars. Who bought the Bullitt Mustang at the Mecum auction? As Chris Harris from Top Gear once said, there are far too many tasteless rich people for it not to exist. It has changed quite a bit since pencil and paper, but the auctioneers cadence remains the same. So I refuse and tell the gate agent to call security because either Im getting on the plane in first class or Im going to jail. | Never miss an article, [Editor's Note: This article originally ran in the January 2020 issue of Classic Motorsports and references events that have alreadyhappened.]. Honda. The other thing is energy. Mazda. Most Reliable Cars that Wont Break the Bank Toyota. If you buy quality and pay too much, the price will catch up and you will either make money long term or at least get your money back.
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