Over the past five years at Monterey, Gooding has averaged $118 million worth of vehicles sold. Mecum had a 56 percent sales rate. And on average, $353 million worth of cars have sold in auctions leading up to The Pebble Beach Concourse. This year is different. A lot different, as …
Deferred Maintenance: The Hidden Costs of Exotic Car Ownership
As I basked in the sun with my family on a beach near Charleston, SC recently, I caught up on some of my favorite industry reading. Beach vacations are uniquely suited for this type of relaxation. This time, however, I shocked my wife and family when suddenly I began yelling …
Pebble Beach And Current Investing In The Classic Car Market
Pebble Beach is upon us and many of you have had your hotel rooms booked for nine months now. But how long have you been doing your due-diligence on that vehicle you have your eye on? The week-long event is always an incredible opportunity to see extraordinary vehicles, reunite with …
What Is Fee-Only Automotive Advising?
The Difference Between a Fiduciary and a Broker It’s a common question: “Dave, what do you mean by fee-only consulting?” “How are you different from a broker, dealer salesperson, my buddy who owns a restoration company, or my nephew who’s a certified Gold Meister?” At Precision Automotive Group, we’re committed …
Loosen Your Grip Part I: Scarcity vs. Abundance In the Automotive Industry
I’m writing to you, my fellow automotive industry professionals. I want you to think of a two-year-old playing with a ball. He is surrounded by his friends at a party. And they’re all watching him play, but he won’t share his ball. He has a garage full of balls, but …
Dealership Repair Gone Wrong (Client Story)
“We’ve got a problem.” A client took his BMW to the dealership for a transmission issue. The diagnosis was a transmission leak (transmission pan gasket seal) as the car was two quarts low on fluid. They said they needed to fix the leak before determining if the transmission was OK. …