Barrett Jackson
- Thread starter lilbowtie
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with the way the market is the builders of the cars are losing their shirts.....
I would estimate over 90% of builders of cars loose their shirts at auctions... And It is the way it has always been.
The Fake reality of TV shows like Gas Monkey where they "build a car for auction" doesn't work in the real world. That is the Auction companies paying them make it look like this is a sound business model to a gullible audience so they can keep the "20% of the sale" gravy train rolling.
The cars that sell for a profit at an auction are the cars no one wanted 20-30 years ago except for 1 guy who made it his life's work to buy all of them and stored them in a climate controlled building for 20-30 years and now EVERYBODY wants one.
'71 Cudas converts were like that. One year only car, only 374 convertibles ever made. I had one. Everyone thought it was a '69 Firebird. Worst driving car I have ever owned, but only 373 other people out of 7 Billion knew this. One year nobody wants them and they are $7,000, 15 years later, Don Johnson drives one on TV and they are $80K. Same car, same condition.
My dad's friends are making a '67 Nova SS clone. It's only about 1/2 done and they are already way above what a real '67 Nova SS would sell for at Barrett Jackson... and '67 Nova SS's are desirable.
when they can't get the bids to go up there is usually a mystery phone call bid that wins....
Here in Ct there was a 69 camaro body shell with rotted quarters, floors no front sheet metal or glass for 3k. It could not even be used as a parts car. I agree that these auctions have really over inflated the prices on classic cars.
But it had a VIN and cowl tag.
So the stolen one the buyer had is now "Legal" and driving around overseas somewhere.
Ever see how many classics are recovered and the shipping ports.
Big auctions and big bucks have not ruined the hobby. They have made it possible for restoration parts to be reproduced. Do you think anyone would be reproducing quarter panels or dash panels or interiors for low volume, 30 year old cars if they were still only worth $12,500 max?
When people get jealous of a rich guy with a perfect 100 point restoration of a Boss 302 or Challenger T/A or whatever, I ask them "have you ever driven one of those?" because 85% of the cars you can go buy off Craigslist for $3,500 will drive better than a 100 point restored muscle car and 95% of the modern Muscle cars you can buy on CL for $12,500 or so drive better, stop better handle better and are WAY quicker and faster AND get twice the MPG.
"But they are so cool!!!!"
People are buying Garage art to look at, not cars to drive and enjoy.
When people get jealous of a rich guy with a perfect 100 point restoration of a Boss 302 or Challenger T/A or whatever, I ask them "have you ever driven one of those?" because 85% of the cars you can go buy off Craigslist for $3,500 will drive better than a 100 point restored muscle car and 95% of the modern Muscle cars you can buy on CL for $12,500 or so drive better, stop better handle better and are WAY quicker and faster AND get twice the MPG.
"But they are so cool!!!!"
People are buying Garage art to look at, not cars to drive and enjoy.
Absolutely they would they have been making them for Tri-5's and others when you could buy a nice one for 5k.
There prices are absolutely ridiculous Just a bunch of spoiled kids running up the prices.
There cars are FAR from perfect, That's why they rarely drive them up on stage anymore.
Half of them run like crap.
Look at yesterdays broadcast they couldn't even get one of the cars started and quickly got the camera off it.
Why do you think car prices have increase so much over the years.
Look at ebay who the hell is going to pay 11k for an nothing special 85 Grand Prix??
http://www.ebay.com/itm/1985-Pontia...ash=item3f788e052c:g:sOUAAOSwXYtY3R6u&vxp=mtr
You can blame these auctions and shows like Pawn Stars and American Pickers.
Everyone thinks they have rusty gold now.
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