The 2009 Barrett-jackson auction in Scottsdale AZ starts tonight. Speed TV will cover most of it.
I'm wondering how the sad state of the economy will affect prices.
I think there will be a few good buys to be had.
Overall, I don't expect prices to be much lower than usual.
People that have that sort of $$, sitll have/want to buy.
My boss will be their bidding ona few cars.
It will be interesting to see if the bubble has burst on some of the inflated values we have seen recently, ala early 90s crash in the collector car market.
Prices are definitely going to be weaker this year. It'll be interesting to see how prices for the super-desirable cars (Hemis, Shelbys, etc.) hold up in the current market. [popcorn]
I'm heading down to Scottsdale on Thursday night. Going to hang out at the auction on Friday and Saturday with a couple of my friends. Anybody else going to be there? [beer]
Remember, all of those cars GM is trying to sell off from their museum are going to be there...
Quote from: NAKID on January 13, 2009, 09:59:18 AM
Remember, all of those cars GM is trying to sell off from their museum are going to be there...
Yep. Judging from the list of cars, GM is unloading a lot of late-model concept and project cars from the past 15 years of SEMA shows. [laugh] Should be pretty cool. [thumbsup] [popcorn]
http://jalopnik.com/5113113/gm-to-auction-near+classics-from-corporate-museum (http://jalopnik.com/5113113/gm-to-auction-near+classics-from-corporate-museum)
Holy Cow!!! :o
That's quite a list.
Should definitely add some excitement to the auction.
[popcorn]
Quote from: bluemoco v2.0 on January 13, 2009, 09:00:01 AM
Prices are definitely going to be weaker this year. It'll be interesting to see how prices for the super-desirable cars (Hemis, Shelbys, etc.) hold up in the current market. [popcorn]
+1
I've been watching sale prices for a few years, and things seem to be down quite a bit right now. But, these auctions bring out the 'money is no object' crowd which skews reality a tad.
Anyone there want to bid on the GM Peugeot 205 for me?
mitt
Quote from: mitt on January 13, 2009, 05:02:48 PM
Anyone there want to bid on the GM Peugeot 205 for me?
Get in on the telephone bidding. That's what some celebrities do. [thumbsup]
[you're a celeb, aren't ya?]
Otherwise, I can be a proxy bidder for you. For a small fee. ;)
Quote from: bluemoco v2.0 on January 13, 2009, 05:39:13 PM
Get in on the telephone bidding. That's what some celebrities do. [thumbsup]
[you're a celeb, aren't ya?]
Otherwise, I can be a proxy bidder for you. For a small fee. ;)
(checking to see how much is in the DMF account...)
mitt
There's no question that prices are going to drop. There was an article in the Wall Street Journal about how the classic car market had collapsed. They researched sale prices for popular brands (Ferraris, Porsche, etc.), and most had seen double digit declines (though the blue-chip models held their value relative to the market very well). There were stories about car brokers being flooded with calls from clients who were desperate to sell. The most precipitous drop belonged to muscle cars, a staple of the B-J auction. I think those "1 of 1 option combo" cars aren't going to draw the numbers they use to.
I had an offer to buy my '67 Cougar for $25K a couple of summers back. I thought about it long and hard (have owned it since 1986) but refused.
I'd be lucky to get half that right now.
From what I saw last night, prices are down, but nowhere near as far down as I expected. That Cougar may be worth more than you think, even in this market.
Quote from: Speedbag on January 14, 2009, 03:49:50 PM
I had an offer to buy my '67 Cougar for $25K a couple of summers back. I thought about it long and hard (have owned it since 1986) but refused.
I'd be lucky to get half that right now.
Yeah, but had you sold it then, you'd be regretting it now...
Quote from: Speedbag on January 14, 2009, 03:49:50 PM
I had an offer to buy my '67 Cougar for $25K a couple of summers back. I thought about it long and hard (have owned it since 1986) but refused.
I'd be lucky to get half that right now.
I think the market for Cougars will improve. They are rarer than most 'stangs save for the limited production models, and IMHO better looking. Once the public catches on, they'll appreciate like 'stangs have.
Quote from: CowboyBeebop on January 14, 2009, 06:59:43 PM
I think the market for Cougars will improve. They are rarer than most 'stangs save for the limited production models, and IMHO better looking. Once the public catches on, they'll appreciate like 'stangs have.
+1. The Cougars, Cyclones and Comets have yet to come into their own.
Quote from: alfisti on January 14, 2009, 07:14:31 PM
+1. The Cougars, Cyclones and Comets have yet to come into their own.
Cougars look the business. 'Stangs always need extra drama - added bits and pieces - to be taken seriously. Cougars are cleaner, but they still look meaner.
Quote from: CowboyBeebop on January 14, 2009, 07:21:28 PM
Cougars look the business. 'Stangs always need extra drama - added bits and pieces - to be taken seriously. Cougars are cleaner, but they still look meaner.
Which is why I've always preferred the Cats. I've also owned a '68 and a '70.
Quote from: NAKID on January 14, 2009, 05:28:26 PM
Yeah, but had you sold it then, you'd be regretting it now...
Very likely. I doubt I'd find another in the same condition. Other than one repaint and a minor engine refreshening, mine is original and unrestored.
I saw the pic you posted. Very nice...
I have a nice '71 Cougar ;D
I watched a bit of the auction on Speed Channel tonight. I think there are going to be a lot of cars that will fall into the category of "Well Bought". [laugh]
Quote from: bluemoco v2.0 on January 14, 2009, 08:52:03 PM
I watched a bit of the auction on Speed Channel tonight. I think there are going to be a lot of cars that will fall into the category of "Well Bought". [laugh]
Some of those customs and rest-o-mods were going for 1/3 of their value. A pro-touring rest-o-mod will cost somewhere in the neighborhood of $100k+ - more depending on the level of mods and paint. The rarer, original cars were holding their value, though.
that 1939 whatever-it-was went for $200,000 :o
sounds like prices are still really high for the rare items, and the rest of the ho-hum things are down. Like the commentators said, some of the cars were getting used car prices - not future collectible prices.
Quote from: lauramonster on January 15, 2009, 10:48:55 AM
that 1939 whatever-it-was went for $200,000 :o
sounds like prices are still really high for the rare items, and the rest of the ho-hum things are down. Like the commentators said, some of the cars were getting used car prices - not future collectible prices.
And that thing was a turd. I have no idea why he paid that much for it.
They are currently auctioning an '09 Harley built to commerate Nascar. Rusty Wallace, who described it before the bidding, said it was state of the art. [laugh] The art is in sad shape.
A really nice '57 T-bird convertible resto-mod just sold. Fatman coil overs up front, tri-bar rear, custom interior, Vintage Air/Heat, custom sound - the works. Only test miles on the odo. It probably cost +$150K to build. It sold for $66k. So far, that's the best buy I've seen.
They have sold $20.2 million in vehicles already. :o
Resession be damned.
Some makes, like the Healeys, are doing as well as ever, but most of what I've seen so far has been well down from last year.
Quote from: NAKID on January 17, 2009, 07:30:40 PM
Oops, looks like I missed the joke...
It was a good one too! [laugh]