So I've seen a few threads recently about the soft market for hotrods and prices not being what "we" think they should be. Can you tell us about some of your experiences lately on cars that have SOLD? If it's not too private, let us know what some cars you're familiar with have actually sold for. Either yours or ones you personally know about. Thanks.
I don't have much experience on what has sold but what I am noticing on what is for sale. The local ads I'm seeing around here are many project cars appearing where guys have completely tore a car down or have taken the drive train out and found they don't have the skills or the cash to complete it. Next thing you know they are selling the car which is in boxes all around their garage and trying recoupe the entire value they believe or have in it. Also I'm seeing is guys putting a ton of money in less then desirable models of cars and trying to get their entire amount they put into it. I always tell guys who are in the market for a car to start looking in the fall as prices around here seem to be better when the show seasons over and many owners face the prospect of winter storage.
Just go to eBay and look at the completed sales. Maybe one in 30 sell. Maybe they sell off eBay but it is still an indication. What sells is cheap.
Some cars will always bring top dollar, whatever that dollar happens to be at the time. Any 32 or 40 Ford will always be higher than a 32 Nash or 40 Hudson, it's just the way it is. And almost every 2 door will bring more money than a 4 door of the same model. The ones that have such high prices that aren't selling are usually the ones that aren't those mainstream cars, they are overpriced but the owners think they are worth as much as the desirable models. And the old adage, location, location, location, is a huge factor, too. In one area, a $25,000 to $50,000 car would be a hard sell, the people with that much disposable cash is very limited, where in other areas there would be multiple buyers waiting in line. You can't just look at sold prices to determine value, you have to look at the area it was sold in and figure that into consideration. Selling old cars is a lot like trucking, you don't go into it looking to get rich even though a lot of people have gotten lucky and did. You just try to get the best you can get.
How many potential buyers? (Demand) How many existing cars and explosion of recent builds? (Supply) The cream of the crop will always bring top buck no matter what. So to speak the investment grade vehicles. The regular milk will be what they are according to supply and demand and the whims of the buyers in the market. Some folks want an “old car” and were convinced 4dr parts cars are desirable.
My friend traded his Harley for a rough 67 camaro he wanted around 10 to 12000.00 for the Harley and it was in really nice shape. The camaro was a decent - running 327 powered -4 speed car and it had factory disc brakes. The interior was rippy the carpets were crappy and worst of all it had a lousy - boring white paint job. My friend redid the interior himself cause you can get everything for those cars - he did a really nice job going over the body and painted all the door jambs a nice metallic blue. He brought the prepped car to me and I painted it and it looked great. My friend Dave has away of fixing stuff up - when it’s done they really look and drive nice. Now he wants 25000.00 for it and I wished I had the money cause it looks great. Then 1 guy after another steps forward and all offers won’t cross over the 20000.00 mark. Dave holds firm and won’t even go 19800.00 - heck it’s worth 20000.00 or he will keep it! Finally someone pays 20000.00 so isn’t that really what it’s worth?
I couldn't sell my '59 Tbird which is a running driving car, so I traded it for a '58 Impala project on a rotisserie. Sounds dumb, right? Except when you factor in that the parts for the Impala are actually cheaper, and I would have needed to buy those same parts for the Tbird anyway... And wjen I'm done the Impala will be worth 2-3 times as much as the Tbird would be doing the same amount of work! Whether I sell it or not is another story...
From time to time I look at some hot rods for sale and consider what the salvage value might be if you part it out. Been tempted a time or two, but yet to follow through.
Prices are all over the place but quality cars still bring good money. Have inquiries regularly about 40 coupes or will I build one for them. There is still interest, just a smaller market. Have a standing offer on mine-not quite ready yet.
I am seeing basket-case Model A "project" cars, with no paperwork, ranging from $3500-$5500 out my way. With no paper, that's $350-$550 in parts.
FWIW, I sold my 36 Tudor earlier this year ( thru the HAMB classifieds). Started out at 25g and slowly dropped down to my rock bottom of 21,500, the price it sold at. This was a well built, completely finished, driving HOT ROD. Both the buyer and myself feel we got a good deal. Realisticly, there was no money MADE on this sale, probably didnt even come close to breaking even. In my heart, it was worth 10 times what I got paid but that's not how it works !! Mitch.
I'll never understand the guy who wants like 5K for a car with no paperwork. Like you said....in my neck of the woods, unless you want a real headache....that's a parts car.
What people don't seem to realize is that when they bought, built, or had built, the car of their dreams, it was THEIR dream. They figure that some stranger should fawn all over their car, then start whining when the offers are less than their 'dream' asking price. If you want full market price, build a full market car. Build your car the way EVERYBODY wants YOU to build YOUR car and YOU'LL have a better chance at selling it to EVERYBODY. The auto industry has been doing this for years, with some success. I myself, would never even consider building my car the way somebody else tells me to build it. When I look at a car, I don't give a damn about it's history, memories, or builders vision. I have respect for the hotrod/racecar/custom caretakers, but they aren't your average buyer. When I'm buying my only thought is whether I like it, and will it fit MY dream when I'm done with it. When it comes time to sell, I try to price it as if I'm looking at it for the first time.
I know that I have a buddy that has a buddy that just sold a '32 full fendered Roadster at one of those big name auctions. It was a fairly nice car...all Henry steel. 350/350 dressed old school. The car really didn't turn me on at all (which pisses my buddy off) Dropped his reserve to $50,000 during the sale to match the highest bid he originally had a $60,000 reserve. By the time fees are paid both ways....
This thread is similar to a question is see frequently here and on FB. “What did you pay for it” when someone posts a new driver,project or parts car. What the heck does it matter? some folks have awfully large noses.
Yes, that is what it "is worth" to that buyer at that time and place and that buyer alone. The next person might only give $17,500 and, if it sells, that it what it "is worth". Any item is worth what some one will pay for it so the buyer sets the price/value/worth and not the seller.
There’s different markets though, There’s a trade in market, a wholesale market, a retail market and the rarified market. The rarified buyers don’t shop in the other markets, the retail market wants wholesale prices, the trade in buyers don’t care. That trade in buyer isn’t going to pay much - is that what it’s worth? Fuck no it’s worth retail but he’s going to sell it wholesale again not what it’s worth but it’s sold there in that market for that price.
Thank you! My point exactly. Different buyers will have differences of opinion for their purposes. A car wholesaler will look at a car in a way different light than a 17 year old with grandma's Christmas money.
Lets face it the grey beards that find our traditional hotrod and custom cars desirable are dying off at a considerable rate.......everyday, everyday just like WWII, Korean War, and Vietnam War Veterans. Most kids under 50 couldn't give 2 shits about these cars, they want 80's and on up, not to mention really young ones 30 and under want 4 door sedan turboed ricer or the USA spawn of the same or a truck. Its hard to find a high dollar buyer for your trad car when your trad buyer is mouldering........
Yeah, it’s like an article I read a week or so ago about how old most of the rock and roll artists are now if they aren’t already dead, their 70’s. It talked about how as they die off, nobody much was replacing them, and rock would die with them. Much the same on these old cars, those of us left will die off sooner and later, and there won’t be as much interest in them as there is now, just like has already happened to the brass era cars. Most of those left are in museums or collections and are seldom seen. Only a few people care enough about them to keep them up. Enjoy them while we can, we’ll all be gone too soon anyway.
I got my 28 sedan project and my 37 pickup on the HAMB. The sedan was chopped 6 1/2" and it looked cool but the fit was not good (literally). Sold it for break even without really doing anything to it. The pickup was a stocker and too rough...not really what I wanted anyway. Sold it for break even. Both of these were under 9000. No engine in the sedan, pickup ran but I wouldn't go too far from home. Bought my current A on Ebay and it's a keeper.
Right now on cars-on-line.com, there are 497 posts for 1930-1934 Fords. Prices seem to be staying steady. Not saying they're selling, but the prices haven't appeared to have been dropping.
It’s only worth what it sold for , bottom line ! You and everyone else can take an educated guess ,but it’s like a buddy of mine , spent 9500.00 in chrome trim at the Harley store before he picked up his new ride , I just chuckled . Thinking it is never worth a penny more to the bottom line buyer , what you add to satisfy yours wants . No one wants or will pay for your likes.
They still bring big dollars if they are exceptionally done cars or cars with history that have provenance. I know of 32 roadster that was a period build, but a new build and would look right at home in the Hot Rod class at Pebble beach that brought $375k earlier this year. There was no excuses with this car. An outlier maybe, but it was a exceptional car. On the other side of the coin there are guys near me that buy Model T's and A's and part them out and make more than what they could get for them whole. You figure....
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