2015 Barrett-jackson Auction

[goofyone]

G1, while that makes sense and that is the way I interpreted it also I still don't understand how that will work for the line? So you saying that every time a person jumps out of line the are going to go through the hassle of sending every reservation following a new line position? So if the 60 people in front of me back sell out I have number 1 all of a sudden? Just seems like a simple line sitter scenario. Fella sells his position for a value + or minus and the line keeps moving. As long as others are not moved Back (line cutting) I don't see why this would matter to Elio or the buyers? I to am prepared to buy out a few antsy folks and possibly hedge my bet but not if EM can't formalize this change.

The truth is that our reservation numbers may mean something to us however they really do not mean much to EM. EM calla this process "your place in line" and that is essentially what is happening. EM has a list of people who are all-in 1K, and as there is no line cutting at all, if someone drops out EM scratches a line through the name and life continues on.

Once production begins EM will simply go down the list of people and offer you a vehicle. When that happens each person with have to decide whether to purchase the vehicle, defer the decision, or walk away. Due to this system your actual build number will very likely slide forward, possibly by a good bit.

What EM wants to try and prevent is speculative investors from buying reservations with no intention of actualy buying the vehicles themselves. EM is doing this not necessarily because they care if reservation holders sell their vehicles but instead because a reservation system full of actual interested buyers, and not being artificially inflated by investors willing to walk away, is a very valuable selling point when seeking investors.

 

[goofyone]

All understood but how exactly is this system going to protect against that? (Disclaimer: I am NOT trying to create any bad ideas or promote a New conspiracy concept with this!) What if we (the 38000 buyers) all decide we are willing to loose an extra 100 or say 200 dollars to get our Elio? Each one of us puts in another 1 or 2 orders at $100 non-refundable to stack the deck and move this ball forward. That would sky rocket the product orders to 114,000. In the end it cost me the "deck stacker" a total of 7,000 for my initial investment order and I "walk away" from my previous order. A gamble like this Could collapse this house of cards, but it Could also motivate investors or the loan process...... Again, this is NOT a recommendation I am promoting. Just curious since it seems to simple. In Craps, I think they call that a side bet.

There is nothing to stop this from happening at all however this would be exposed pretty quickly if an investor were to review EM's order information, which they should be doing anyhow, to ensure that EM is not trying to pull any shenanigans with the claimed number of orders. As analyzing a database and correlating this type of information takes no time at all this would be discovered in mere minutes. There are currently a small minority with multiple orders however that is to be expected but if even half the reservation holders had multiple orders people would become very suspicious very quickly as this is a vehicle after all which is not something most people buy at one time in quantities larger than one.

 

[RUCRAYZE]

There is nothing to stop this from happening at all however this would be exposed pretty quickly if an investor were to review EM's order information, which they should be doing anyhow, to ensure that EM is not trying to pull any shenanigans with the claimed number of orders. As analyzing a database and correlating this type of information takes no time at all this would be discovered in mere minutes. There are currently a small minority with multiple orders however that is to be expected but if even half the reservation holders had multiple orders people would become very suspicious very quickly as this is a vehicle after all which is not something most people buy at one time in quantities larger than one.

well, that's exactly my plan (which I've shared early on).
I'm all in 1k and want in $100.00
IF I can sell my first for a reasonable profit( counting on folks who, after they see it on the road will pay a premium), and wait a couple months to option my second, or not, and get my $100 back

 

[goofyone]

well, that's exactly my plan (which I've shared early on).
I'm all in 1k and want in $100.00
IF I can sell my first for a reasonable profit( counting on folks who, after they see it on the road will pay a premium), and wait a couple months to option my second, or not, and get my $100 back

I can't blame you and that is actually a good plan with minimal extra risk.

I myself have considered a second one. I am trying to find a 'motivated seller' to sell me their reservation. I am offering $0.50 on the dollar for an all-In $1K reservation. As I don't actually care about the number I would want to complete the transfer via EM ASAP and simply go to the back of the $1K line on the number itself.

 

[AriLea]

That is quite a boon for those who want to transfer. It could also make an 'exchange' market possible.
What does it take, once you have a seller and buyer, just an email to EM to get started?
My contact wants his full 1k back. And his position is lower than mine. If EM will condone this transfer, I'll start saving my money now, even more seriously than I am.
If the two parties trust each other, and perform as promised, all is well.

But what if trust is a problem? And here is a case for a title company, say I put 1k in an account. For him to get that money all I have to say is yes, transfer complete. But if I refused to say so, what would his recourse be? How can I guarantee his risk is low?

And too, not sure if I want to just go to end of the pack for this.

 

[goofyone]

That is quite a boon for those who want to transfer. It could also make an 'exchange' market possible.
What does it take, once you have a seller and buyer, just an email to EM to get started?
My contact wants his full 1k back. And his position is lower than mine. If EM will condone this transfer, I'll start saving my money now, even more seriously than I am. If the two parties trust each other, and perform as promised, all is well.

But what if trust is a problem? And here is a case for a title company, say I put 1k in an account. For him to get that money all I have to say is yes, transfer complete. But if I refused to say so, what would his recourse be? How can I guarantee his risk is low?

Just to clarify, the place in line and the bonus does not transfer. All EM's transfer program allows is for a current reservation holder to recoup their money. The person that provides the money is then treated as a new reservation at the back of the line. So if you were to buy out the person you know officially via EM it is the same to you as if you were making a new reservation directly with EM. As a new reservation right now receives a 50% bonus you would be entitled to the bonus as well however my guess is that the 'place in line' number would be about 13K.

Doing it this way you would likely want to get everything in writing and a contract signed ahead of time. Money would likely be exchanged after EM confirms that the transfer has been completed with the contract and EM's involvement being the evidence in case the money fails to materialize. It is a bit of a hassle which is why I would not want to do it for full value unless it was my intention to do that anyhow. The only reason I would consider a $0.50 on the dollar buyout right now is, with the current bonus, this would save me $1K on the vehicle.

I very likely will end up with at least a second reservation anyhow but it will likely be for $100 refundable just before the reservation program closes as I would prefer a delay between the vehicles.

 

[AriLea]

K, what I could do in my case, is save up cash.
Each time I have more money, I could go on this forum under Reservations and say, I have XX and am willing to buy your 'All In 1K'.
If I get no takers, I just save up a little more and try again.
Then when I get a seller for my buyout, work it out using the way you have shown.

 

[AriLea]

It occurs to me something like a bond guarantee could work.
Basically, the seller signs a contract with an surety bond or title agency that he will comply with the terms to deliver the Elio into the buyer's hands. And gets his 1k (or agreed amount) in cash minus the bond fee.
The seller also sings up, and pay the agreed amount to the agency. If the car doesn't come though as agreed, the agency goes after the seller for the cash legally. Somewhere in there I either get my Elio, or some money back.

I'm going to look into to this, I'd like to buy an early position someday.

 

[RUCRAYZE]

Read where They plan on showing at the Barrwtt-j Auction(s)- Palm Beach (in April). Great for me, I live about 20 minutes away, downside, I did 600 mile round trip to see it in Jacksonville!! Take it for a spin?? I can only hope- what will be cool is taking some friends to see it "live"