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  • Mecum Dealmakers

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    Mecum Dealmakers is an American reality program airing on NBCSN. The series takes a behind-the-scenes look at Mecum Auctions, America's biggest collectable car auction facility. Each episode features a specific auction, focusing on the unique and collectable automobiles in each auction. The program features Mecum Auctions founder Dana Mecum and son Frank.

  • List of most expensive cars sold at auction

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    This is a list of the most expensive cars sold in auto auctions through the traditional bidding process, that of those that attracted headline grabbing publicity, mainly for the high price their new owners have paid. August 2018 Ferrari 250 GTO (number 23) auctioned for $48.4 million. June 2018: A 1963 Ferrari 250 GTO, known as the Holy Grail model, won the Tour de France in 1963, changed hands for a world record US $70 million (not auction). It is a 174 mph road-legal racing car and one of only 36 built between 1962 and 1964. It was purchased by an American businessman. A 1962 Ferrari 250 GTO, serial number 3413GT, sold at RM Sotheby's Auction on August 25, 2018 for US $48,405,000 (including buyer's premium). This broke the record previously held by another 1962 Ferrari 250 GTO, serial number 3851GT, which sold for a then-record $38,115,000 (including buyer's premium) at Bonham's Quail Auction on August 14, 2014. While collectible cars have been sold privately for more, this is the highest price ever paid for a car at a public auction.

  • Buyer's premium

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    In auctions, the buyer's premium is a percentage additional charge on the hammer price (winning bid at auction) of the lot that must be paid by the winner. It is charged by the auctioneer as a remuneration, normally in addition to the seller's commission, which had always been charged by auction houses to sellers. The buyer's premium typically goes directly to the auction house and not to the seller. Major auction houses have made this charge for some time, particularly in the fine arts sector, with premiums in the region of 10%-30%. In the real estate sector in many European countries, the premium, if charged at all, is much less (2%-2.5%). However, more recently, in the UK foreclosure properties have been offered without fee to the seller, but with a substantial buyer's premium of 10%. The buyer's premium is considered to be either a necessary contribution to the costs of the administrative process or an unreasonable extra charge by the auction community. Auction houses may now market themselves as "not charging a premium" to gain favor with customers. Regardless, such premiums are now commonplace and continue to grow. The amount of the buyer's premium will normally be stated in the auction house terms and conditions or, in the case of UK properties, it would be listed in the RICS (Royal Institute of Chartered Surveyors) Common Auction Conditions or in the special conditions for the lot. In Europe, the buyer's premium may also be subject to VAT (value added tax), while in the United States, some states require the premium to be included in the sales tax base.

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