Technical hot rod prices (inflated?)

Not sure if people are getting what they ask for, but I keep seeing this 34 5 window body, or whats left of it, on facebook he still wants $4000 for it.

 

I think rods are getting top dollar and customs have been steeply discounted. I think there is more of a universal appeal to a hot rod, and the prices of Model As, and obviously 32-34 Fords, are steadily in demand, and have collector status among even affluent clientele and high-caliber collector cars. A 32 Ford hot rod or 36 Ford, or even a really nice Model A hot rod, would not be out of place in a collection with Ferrari and Porsche. Customs, although beautiful, and more of a bespoke vehicle, and are more a representation of the builder or owner's wishes. There are virtually no custom cars I can think of that I wouldn't change a thing if it were mine.

 

Cars that are built right bring good money.
Cars that are a little "off" don't.
Gman's '63 Chevy as an example was built right, inside and out, top to bottom. It took a while to sell, but brought close to asking price because it was that nice of a car.
I see cars where "themes" are confused, such as narrowed rears and extra wide rear wheels on a custom. It is almost like people are perusing the internet or looking at catalogs, and then randomly picking parts because they like the way it looks without a thought to how it will affect the looks of the car.
Attention to detail matters, too.

 

To me here in SoCal that any 50's-60's and even 70's cars that look stock on the outside, all the factory trim left on, LS or Coyote engines, OD transmissions, minimum 2 wheel disc brakes, late rear end, AC, blaster radio with blue tooth, slightly lower with nice tire/wheel combo have the best chance of selling. With wheels I mean 15-17". Yes there are a lot with 22's but not that many in the street stuff if your wanting to sell.

Interiors are all over the place with consols and leather everywhere, Lots have digital a dash and some don't. Vintage cross the bottom AC units are good but hidden dash ones are better.

I believe it's the old look that's wanted with as new as can be had "nicities" guys have in their new cars. May not but seem that way to me.

 

The higher the build cost, the higher the asking price. If a cashed up Johnny Come Lately decides he wants a “Hot Rod” he will often order a brand new repro body and chassis/suspension package, crate motor and wheels. Once he has it all, he rings his local rod shop and says build this for me, without realising how expensive things will get at $80 to $100 an hour. Twenty grand in parts and another Forty to Fifty grand in Labor, paint and upholstery means he has an expensive toy he is too scared to drive for fear of scratches. The new toy gets driven around the block a few times, entered into a few local indoor shows and spends the rest of the time taking up space in a two car garage. After six months to a year the novelty has worn off and owner sees something else he wants, a new Harley, Corvette or Mustang and before you know it, it’s up online with a 80 or 90 grand price tag.

 

It would be even more interesting if it was spelled correctly.

There is a distinct difference in meaning between pray and prey.

And that’s not a play on words.

 

Regardless of market conditions, there is, and always will be unrealistic pricing by some sellers.
As a buyer all the more reason to know current market prices and popular trends.
Knowledge is the best tool to possess when in the market for a collector type vehicle.

 

Even thought the market for earlier cars may be shrinking, a well built and sorted early Ford will still command good money. An average one will not. I see well done cars sell regularly for serious money. There are buyers out there that know what they want and will step up for the right car. Even in this market I get calls from folks wanting a well done 40 Ford. They are older and have the funds and are willing to pay for what they want.

 

Corrected, I should know better. I just told one of the office people it is which not witch. I really got after the way to young for the job bank manager went she told me "People know what me mean." When I told them they wanted though not thew on the sign in the lobby.
Only 37 and I am grumpy old man.

I will agree prices are coming down, but they are still high.
People bought cars when the boom was on and now are stuck with a car they paid way too much for.
Remember 1.5 Million dollar hemi cars?

The other issue is over restored cars
Stockers that have been taken to a point they never where new, Paint that is too shiney hours of sanding, checking body gaps with calipers. This adds to the price of restoration but not the value of the car.
Many people think restoring a car adds to it's value which may not be the case.
Last summer my father an I ran into a man with a mid sixties one ton long wheel base panel truck.
His father bought it if not new as a two year old trade in. It was used of the family wood working business, it became his first car ect...
He asked how much we thought to restore it and how much more it would it be worth. We told him he would have more in it then it would be would be worth, and it wouldn't add to it's value.
That the family history is what made it valuable.

He said "There were not many of these built."
I said "Yes, that makes it cool, but low numbers don't always mean big money. There were way more Corvettes built then these, but they are way more valuable."

 

I'm with you on this one. I used to work at one of those shops where a driver paint job started at $20k and show paint started at $80k. It was just a place for all of the rich guys to bring their cars to so they'd have something to talk about at their Ferrari club meeting. I mean these are the kind of guys that compete to see who can spend the most on something. My boss once told me he was going to charge one guy $200k to fix the dent in the fender of his 250 GTO just to teach him to be careful, but it didn't matter anyway. These guys hire guys to manage their cars, and have all of the bills sent to their accounts so they have no idea what they're paying. The shop owner was no better. He paid me nothing and had me doing jobs he was billing out at $300k.

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Kind of a rough comparison. About 1980 I bought two nice 57 BelAir hts out of Oregon but not running $6k for the pair. Wages were about $3200 a month. Sold them both about 10 yrs ago-$13K each-same job was $11K a month.
About 4X for the cars,3.5X for wages. In 80 the cost of each was a bit over 1 month of wages. In 2009 each was a bit over the $11k wages-minimal actual difference, That job/wage today is $16K per month so the car should be ??? $18K?

 

if you think a car is over-priced, try duplicating it on your own. you might be able to build it cheaper. then again, you might end up spending more money on it.

 

I love people like that! That is how the economy works, it's how capitalism works. The rich guys spend their money of things they want, and by doing that they are spreading their wealth around and guys like us get jobs, jobs doing things we like to do. I once was in a business providing decorative windows, lamp shades and art glass, and it was mostly all wealthy and well to do people who bought our products. Never sold an expensive art glass window to a poor person. One guy we did a lot of work for bought a home on Lido Isle in Newport Beach CA, he gutted the house and knocked down all but 1 wall, and then rebuilt it, employing a contractor and crew for a couple of years. This was during one of the recession times, so while many construction workers were struggling to find work, the guys on this crew had steady work the whole time, doing incredible work. They would buy oak by the train car load, and the home owner bought a wood shop just for the contractor to have a place to work on his projects. We did a lot of work for that house, and the customer was a great guy, he'd come down to our shop just to hang out and shoot the shit. He was an old hot rodder that hadn't had a hot rod in many years, but he and I would talk hot rods all the time. He was a luxury car guy at the time. And he wanted a Jaguar, but he hated the engines. The guy bought a brand new XJ and took it to a shop and had the engine pulled out and a SBC installed in placed of it. The Jaguar guys hated it, he didn't care, it's what he wanted.

Another customer we worked for lived in an exclusive gated community in north Newport Beach area, he had a stable of about half a dozen Ferrari's. He employed a guy full time to maintain his stable of cars.

I don't know, you may hate guys like that, I love them and wish them nothing but more success, so they can spend even more on toys and luxuries, and employ even more people in the process.

 

I have had my all steel, never any rust, '34 Ford Roadster for sale on here, Hemmings, Racing Junk, Goodguys Gazette & several cities on Craig's List for well over a year. Starting price was well below build cost, reduced it a couple of times, solicited offers (got one low), a few trades for projects I don't need, etc. This was not a thrown together build. Body was built in the '90s by Don Babb in So California before he moved North & sold the dies to Steve Frisbee of SAR.. An exact replica of a Model 40, 1934 Ford Roadster, built using an original cowl & dash. When I bought the car it was being restored as an original roadster & included mostly original Henry Ford parts (chassis, transmission, suspension, rear end, mechanical brakes, windshield, top irons, etc,etc) collected by the PO. I contracted with a small shop in Concord, NC, to do the build. Labor costs were very reasonable & builders were extremely talented & professional. I couldn't have been happier. Thanks to my late wife's frugality & our 3 children she taught to be independent & self reliant, I was able to pay the monthly invoices on time (lots of projects go into the dusty corner or outside the shop because of lack of funds). Nine months later the car was completed. Unfortunately, my old tired & beat up body can no longer drive & enjoy the car (27 years as a soldier, 25 jumping out of airplanes, 9 surgeries & arthritis - not complaining - glad to be here). I need a trouble free coupe with an automatic. If any has a good suggestion of how I can sell my car without giving it away, I'll be happy to listen. Already tried an auction but the high bid & cost to sell would have been less than the previous low offer I received.

If anybody has any money, I'll be at the 50th Anniversary, NSRA Nationals this coming week-end. See yall there.

 

I sold this flathead powered coupe for near the asking price of 43K in two months....I had offers from 29K up. I didn't have to sell it which played in my favor.....

 

That 36 that Irish mike posted would easily sell around here all day for his price. Have seen a couple of well done 40's sell recently well over $70. If I had one done, I could sell it with a phone call.

 

The new owner is in Dublin, near you....

 

^^^^ I have to agree with this ^^^

I was looking through the classifieds just the other day and I saw examples of cars that were priced like the owner was smoking crack and others that were really reasonable and good buys.

There was a '63 Galaxy with a dual quad 521 (stroked 460), red with a red gut that looked awesome and the owner was asking $16,500. If the car is as good in person as it looks in the pictures that is a smokin' deal. If I had the cash I would probably jump on it. You need to be patient and you need to be able to jump on a deal when they come up. A lot of guys are doing the same and it usually comes down to who can get there first with the cash.

 

I have no issue with rich car guys. My issue is rich guys with cars.
A rich car does is someone who does his own work who. They live, eats, and breathe cars like the rest of us. I know a handful of these types.
A rich guy with cars however, it is just a passing fancy, if they see an old car on a whim they buy it, throw money at it and once the novelty wears off they are on to the next thing. Which in the process drives the prices of cars and parts up.

I agree with you often you couldn't duplicate a car for the asking price.
But I view things a little differently than most, to me the cost to buy/restore/modify/or build a car is off set by the enjoyment and memories made.

The valve of 1953 Chevy is of no concern to me. The memories and friends I have made because of it are what make it valuable to me. It will never be for sale.

 

Amen. That’s the truth.


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Well, when they're spending money on their cars they are employing people in the business, making it better for everybody. Sorry, but we aren't going to agree on this, I remain a believer in basic economics and in the power of a free market. Natural forces at work will cause prices to set where they naturally belong. There may be temporary shifts in response to certain inputs, but eventually they all find their natural place. 32's are priced as they are because there is a demand for them that exceeds the supply. Rich guys buying them does not effect this. In fact, if/when they move on after the novelty wears off, as you say, that puts downward pressure on the price. In the meantime, the guy that supplies parts, the guy that does the body work & paint, the machine shop building the engine, etc, they all earned money that helped them pay the light bill and keep the doors open, so you can access them for your purposes.

 

Not to get political here but I fully agree with you on the free market and small government, however by buying at an inflated price then putting more money in it, they trying to recover more money when they sell. Which throws the whole market off.
Making it harder for everyone else.

No hard feelings. I enjoy debates with intelligent people, it is a nice change of pace from work!

 

One thing most people don’t think about is the buying power of the dollar, and the location where you’re buying or selling. A $50,000 car now was $25,000 40 years ago. Wages have went up, but the buying power has went down. The old saying a dollar ain’t what it used to be is true....

Location, location, location. Where that car is has a lot to do with the price. I’d expect a California car to be higher than a Michigan or even an Alabama one. What seems like a good price in one area is outrageous in another, or is a dirt cheap steal. In a mostly rural state like Alabama, buyers will be spread far and wide, where in California you may have three buyers in one city block. Our cost of living is lower here in Alabama than in California, but our wages are lower, too, so it’s a wash for most people. That’s why you don’t see as many cars go from a high wage state to a low wage state, but you see more in the reverse of that.

I can’t afford a real or glass 32, but I can afford my out of the main stream Lincoln.

 

Any way you slice it, that is a beautiful roadster!

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As I watch the classifieds here and elsewhere it's become clear that cars in CA are notably higher priced than elsewhere. I see a lot of cars located on the east coast that are priced really nice, but the distance is a major hurdle.

 

One thing to be careful about is that those dry state "rust free" cars may lived in the rust belt for many years before being relocated in someones retirement etc.