I watched a bit of the Mecum Auction tonight on the TV. I saw a really nice '39 Ford coupe sell for 18,000 and a really well done AC Cobra replica sell for 25,000. That AC cobra was an expensive build. I can't believe how much some of the cars are dropping. It looks like the pickup truck, bronco, corvette market is hotter than ever. Demographics are dictating values more now than ever.
It's who's there to bid and if the auction was live today and not a rerun it's Wednesday and the cars that get sold on Wednesday don't always bring what you think they would. I'd think a good number of the bidders today were dealers looking for fresh rolling stock to put on their lots. The Cobra kit car could have been an old build and most old Cobra kit cars used MII suspension pieces and that might knock the price down several thousand bucks compared to a newer one with a custom setup with tube A arms.
If your going to sell a car at Mecum pay the $1000.00 premium to bring your car across the blocks on Friday night or Saturday. Thats when the higher prices are paid and when the big money people show up to start bidding. Also start with a fairly high reserve as when the initial bidding peaks out they'll try and get you to drop it anyway. Mecum gets 10% with a reserve and 5% without. Mecum is coming to Kentucky early in September. I was going to list my avatar 63 Impala but just sold it yesterday. I've got nothing else I want to sell right now and probably just go as a spectator. Gary
From what I've seen, Mecum sales seem more realistic on prices than Barrett-Jackson. Maybe it's a different crowd, but even the high dollar cars at Mecum are usually less than BJ. BJ seems to cater to the restored wine and cheese crowd, Mecum to the beer and pretzels hoodlums.
I think somebody got a real deal on that 39 coupe. I have watched several Mecum auctions this year and the Harrisburg PA prices this month seemed to be much lower across the board. There were a few exceptions but a lot stuff , including Friday and Saturday, appeared to be way under prices from the auctions earlier this year. Some of the stuff appeared to be inventory from local car dealers and at times it looked almost like a dealer's wholesale auction.
Daily drivers are a depreciating asset. You can make money on collector cars if your smart. I buy, build and sell cars all the time. I don't try to get rich but try to supplement my retirement income by $5,000.00 to $10,000.00 a year. The key is to deal in cars that are currently in demand. I mostly deal in Tri 5 and X frame Chevy's. Right now Chevy Nova's are about the hotest thing going. Might go there next. Gary
After watching the recent auctions, my wife and kids can give away my 6 finished deuces and Corvette when I die. I'll enjoy them even after I have to quit driving! It took a long time and a lot of hard work to get them and I'll be damed if I give them away while I'm alive.
I told my kids my 32 is not going to any of them, instead all my stuff is going to be sold off to help put me in a home, now if any of you want to take me in and wipe my butt when the time comes,here’s the keys.....no takers (smart kids)
Unless you invested in a bunch of brand new Thunderbolts, Boss 302's, Boss 429's etc maybe a few 426 Challenger hemis, and rat holed them for a few decades.
Like what I have....maybe they will be surprised - at the on-site auction - what my junk might bring....they have the option - IN BIRTH ORDER - what they would like to have....kinda have about 5 in line with 8 of their/my greats behind them....
Saw some decent deals at the Hot August Nights MAG auction in Reno as well. Best deals seemed to be on nice driver quality cars..
Don't Judge/Assume/Reference, unless you've seen a vehicle in person. Everything looks good on TV. I ran my '50 Pickup through Barrett Jackson Palm Beach a few years ago, and being there for the duration of the Show, I will say only about 10% of the inventory was quality. For every genuine person I met, I met 3 dirt-bags selling vehicles with bad paint jobs with tons of clear coat, interior that stunk of mold, and misrepresented models. A Smokey-and-the-Bandit Trans Am was pushed in place beside my truck, looking like it was driven hard and put away wet, with a bad lifter noise. The car sat there for days, and a few hours before it went across the block it was whisked-away and detailed. It sold for way over retail value! I'm not saying Auctions are bad, you just have to appreciate that everything isn't as it appears. I was in the Retail Car Business for several years, and we called it "Selling the Sizzle". When you go to a Ball Game, you know there are a dozen reasons why buying a sausage from a Street Vendor isn't a smart idea, but the smell, and the sound of those several-day-old dogs sizzling on the grille are calling your name... There are always exceptions, but if a vehicle doesn't draw decent money, there is almost always a reason. I'll be running my '49 Styleline through Mecum in Kissimee next year!
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