Knew that would get your attention! Referring to Barrett-Jackson and the current 2007 auction. Just curious, how many of us poor folk have the ability to throw around $$$50K-70K-100K. Do you thing the classics are over priced? What impact do you think this has on the local market. Example, I took a look at a '68 Camaro recently out of S&G's. . . absolute POS!,hidden behind anice paint job, asking $16K. You guys are classic car fans, what do you think? Is this car market realistic?

 

Well, it all depends on the bidders and asimple understanding of economics. It's only worth what you can get. Just watch the auction and you'll hear the commentators say stuff like, "wow this should go for like xxxxxxx dollars." and it only goes for say xxxx dollars. It seems now though looks are playing a big part. IMHO 65-68 fastbacks are way overpriced. Buying from ebay, overpriced, buying from want ads and you usually do great, buying from a network of old farts and you'll usually get a great deal!
You just have to know what you want, know what you want to spend, and be willing to wait.

 

The B-J auction is becoming more of a circus than a car auction anymore.
Sure brings a LOT of $$$ to town though. Its quite amazing...

 

They annoy me. Recently a super rare 63 Pontiac Catalina 421 SD, that was a factory drag car with aluminum fenders, holes drilled in the frame (aka Swiss Cheese), and a drag racing history in addition to the super race factory parts and originiality of the car, sold for $650,000. It was fully restored and absolutely perfect in every way. So people see that car that probably had $400,000 lavished on its restoration, and they see the 63 Catalina 2 door in the driveway with a basic 389 2V and they think I have a $50,000-$100,000 car sitting here.

Same thing with GTOs, a 70 455 HO 4 speed Judge sold for $200,000 recently, now every slackjawed idiot with a LeMans or Tempest thinks they have a $50,000 car.

Just last week there was a 69 Cougar 351W 2v that had a paintjob two years ago and the guy was asking $50,000 for it. I think it was Craigslist or something like that. How in the name of my mothers cat does he think its a $50k vehicle?

If people want to pay that much for a CAR, then let them. Its idiocy unless it has special value like JFK died in it or something. Even then why pay that much for it? What is driving it is the baby boomers who now have money and want the car they lusted after when they were teens, but couldnt afford then.

The same thing has happend in the street rod market. People with money have driven up the prices on parts, even fiberglass stuff, to the point that you have to have money to have a street rod. Unless you find the parts layin around and build something yourself, ie rat rods, you will have to cough up a huge sum of cash just to get a frame. Its stupid and completely speculation driven.

It comes down to people with more money than brains, and then they influence the people with neither money nor brains into thinking they have a super valuable car.

 

I can remember several cars I used to own....'68 Firebird, factory 400, muncie 22, 4:11 posi, sold it for $600. '69 Charger, factory 440, sold for $450, '71 Chevelle, factory 350, 350 trans traded for a stereo, the list goes on. So I agree, its nuts nowadays, but my '67 mustang will be worth a fortune here soon, so do I sell?.....maybe, depends on how much so dummy will pay me LOL

 

My brother-in-law is there right now entertaining some clients. I told him to bring me back a '65 GTO convertible.

I used to go to the vintage races and auction at Carmel every year. Even though I wasn't going to take out a second on the house to buy something, it was sure fun to watch the likes of Jay Leno and a bunch of oil barons from overseas bid on the cars.

 

It looks to me like they aren't pulling the numbers they did last year. I see A LOT of cars going for less than what they have invested in them.If someone can get an outrageous amount for a car, I'm not mad at him.

 

They just sold a 68 GT500 Convertible for 285,000. I believe a lot of these high prices is because the people are on TV and are just trying to impress everyone. If they are bidding against someone and the cameras are on them, they are going to to keep going just to show they have the money to do it, even though the car may not really be worth that kind of money.

 

The majority of cars sold at BJ never see the tent stage(TV version). I read where the average selling price is around $11,000.00. The bulk of the classics are bought at auctions held outside. These cars aren't the rarest or the prettiest, however, they are solid examples of the classics. Many a deal can be had at these auctions.

 

did you ever trade a caddy for a microphone? (cheap blues brothers reference)