Perhaps the best deal was a 1982 Porsche 911 SC Targa bought by a dealer sitting next to me. As he was bidding for this little gem, it felt as though the auctioneer was pointing to me

In less time than it took the greeter at the Americraft Expo Center to stamp my hand with 'Gala' Wednesday night, the realisation hit that buyers travelled to sunny Florida for the 2010 Barrett Jackson Palm Beach auction ready for battle. 

Amid the ice sculptures, free flowing food and drink, and Black Eye Peas look-alike band, it was evident that this auction house put on a party knowing its audience. More than 1000 people attended the preview evening, holding their plates of sushi and pasta in one hand and brochures with their cars for sale in the other, hoping to secure interest for their treasured rides.

'Patricia' was here to sell her 1947 Dodge Woody Station Wagon.  It was her late father’s prized possession, a two owner car he restored.  She was hoping to get the $ 75,000 experts told her it should fetch. This selling tactic may work if the alcohol is free-flowing on auction day, but grassroots selling…..?  I had my doubts given that it was an amateur restoration but was nonetheless impressed at the level of commitment she had. Would it be effective?  Stay tuned….

At the pre-auction press conference, Craig Jackson, chairman and CEO of Scottsdale, Arizona-based Barrett-Jackson, billed this as an 'automotive lifestyle event,' which caters to the many facets of the love of the car: Road rallies, cruise-ins, new-car ride-and-drives and such. But I was there to see how the economic climate felt to my skin during the live, no reserve auction. 

Was it as hot and sunny as the mid-day sun or cool and cloudy like the purported mood of the car industry as a whole? Actually, it was a little of both. I saw the usual spectrum of sales - like the apparent steal of a deal 1941 Cadillac Series 62 4-door Convertible selling for just over $ 30,000 to the way-overpaid 'just a used car' 2005 Jaguar XJR at $ 36,000. 

It’s all about what floats your boat and how much you are willing to pay to sail it on the big water.  You could see who the experienced bidders were, whether in the front row seats or high in the VIP sky boxes.  The auctioneers knew these folks by name and congratulated them on their purchases once the gavel hit the block.  This public display of ego stroking and encouragement goads the less experienced bidders to jump in the pool with them. 

And they jumped… but not blindly. Many of the cars went for fair market value, like the two honest 1981 Delorean DMC-12s that sold for about $ 20,000 each, an older restoration 1965 289 V8 Mustang Convertible for $ 30,000 and a 1971 Oldsmobile 442 2-Door Convertible at $ 26,000. Perhaps the best deal was a 1982 Porsche 911 SC Targa bought by a dealer sitting next to me. As he was bidding for this little gem, it felt as though the auctioneer was pointing to me. 

With every bid increase he made, my adrenaline was pumping and my heart palpitated. When the gavel went down and the auctioneer said, “SOLD!,” I felt as if I was the winning bidder.  Vicariously, I felt like one of those VIP’s, even though it wasn’t my buy. When the bidder assistant had him sign his name to the yellow slip and handed him the well-earned Barrett Jackson commemorative pen, which he in turn handed to me, I became one of them. 

As proof that this was a good buy, the dealer actually resold the car within an hour of his purchase. My eyes were opened to the enormity of the process as he had inspected the car ahead of time and knew its many positive attributes, including a stack of receipts and a new Targa top. He admitted he paid a little more than he originally planned but felt the quality and condition of the car merited such. The fact he was able to flip it so fast validated his assessment of the car and left him feeling happier than the actual profit he gained.

For Patricia, who so diligently passed out flyers on her car at the Gala, the story did not end as well.  The gavel went down at $ 27,000, considerably less than she had hoped for.  Condition is everything and these buyers were savvy enough to see that. The pendulum swings both ways as it always does.

All in all, a day at the auction is like good theatre. That is why SPEED-TV covers the event in such detail:  Drama, laughter, suspense, tears.  The anticipation is palpable, the outcome unknown until the end.  When it is finally over, you are exhausted, exhilarated and enlightened. 

After 22 hours and three days of listening to the roars of engines and smelling fumes of cars from the past and present, I am confident there is a still buyer for every car, buyers are still willing to spend good money to live our their fantasies, and that this area of the car industry is bouncing back with a healthy step.