Barrett-Jackson Auction

Watched some of the auction last night.

Saw these go through:

'55 Chev Convert, Calif. car, frame off go $60,500.

'61 Chrysler 300G convert, 413 375hp, go for$128,000

'57 Chev Bel-Air hardtop go for $45,500.

'64 T-Bird brought $35,000

"70 Mustang Mach 1, 351 4-speed got $37,000

'28 Model A Roadster, restored sold at $24,000.

Started to fall asleep so I quit watching.

BUT........in the past, wouldn't a '55 Chevy convert brought more than that??? Seemed like the best buy of what I watched.

Seems like Mustangs bring big money there.

Wonder if prices are going to stabilize? Of course, the week is early, maybe the $money$ guys aren't there yet!!!!

Hell, what do I know . I'm not there, never will be and I'm not on a phone link bidding.

Is it true ya' have to have real $money$ to bid on stuff there?

I wonder how many folks bid and then back outa' the deal later. Bet that would piss some folks off .

 

I saw a little Model A track roadster looking Hot Rod just bring 30 grand or less ... the parts were worth more than that ... not counting the labor. Hot Rods do not seem to do as well ... unless they have history ...

A friends 32 5W Ford is there. He sold it and the new owner took it to B-J ... My friend was asking 65 grand at the Nationals in Louisville and it did not sell there ... I do not know what it finally sold for ... but it will be interesting to WATCH ...

Decent 5W ... Halibrands, ZZ4 motor, OD automatic , 9 inch Ford, A/C and Tea's interior ... with about 20 or 30 thousand miles on it.

 

Some of the publications I've read say that if you have a hemi muscle car, sell it now, as they don't expect prices to stay as high as they've been. The argument is that a "market correction" is already taking place in the collector car market, as speculators are losing interest. I don't know if that's true, but it will be interesting to watch the market.

 

As far as having money to bid, I think that individual bidders have to have proof of what they can spend. You have to have a letter from your bank or lending institution and they limit your bidding to what you are good for. This is the first time I have seen the first day, I think they called it their "family value day" and a lot of the cars did go for what Joe sixpack could afford.
CHAZ

 

I have a good friend who has been in the collector car business specifically for about 40+ years (collects a lot of vintage race cars, etc.) and has collected it all over that time.

He swears the collector car market is a pendulum, like the stock market. You have to know when to buy and when to sell. With the baby boomers retiring now, prices should be good for 50's and 60's cars for the next 5 - 10 years max. Then they will get that out of thier system and sell to buy a place in FL, or kids will inherit the car and not really know/appreciate the former value (which these prices are either based on sentimentality or 'I got more money than you', both of which is never a good reason to consider something an 'investment'.

I am saving for 10 - 15 years from now, when I can afford 5 instead of 1

 

The collector market seems to follow interest rates, which is an overall economic indicator. As rates fall, collector car prices go up. Right now, rates have stabalized and are expected to go down in the next couple of quarters. Just "rich" guys looking for good value for their dollar.

But I think with baby boomers getting more overall wealth, prices won't drop too far. These are the guys that always wanted muscle cars, but now have the means to get them. And there are so many baby boomers in the same situation, prices will be faily stable or continue to rise long term. Supply and demand.

 

Remember that what you are seeing is Wednesday prices. The high dollar cars will come out on the weekend. Even though they look nice on TV you can hear the announcers refering to a car a "a good grade 3" and such. A lot of cars went across the auction block when the cameras were not on.

 

I watched about 15 minutes of it last night. That's all I can tolerate for the year. Between the clueless announcers and a few clones that went across for $60,000+ I quickly remembered why didn't like Barret-Jackson. I thought it was kind of cool until a couple of years ago. The people who bid there are idiots. I remember a couple of years ago, an early Ford hot rod with Ardun heads If I recall went across for around $30,000. Then later on some plastic bodied kit car with a Viper engine went for $250,000. There is noway to convince me that's these people are knowledgable. The funniest part is these idiots have destroyed the market for these cars and the bottom is about to fall out. Some of these idiots, like the ones who are paying well over $100,000 for a Z/28, or better yet the guys who paid $70,000 or more for a Hemi Cuda clone are about to lose their asses on these cars. I just hope that traditional hot rods and customs don't become popular at Barret-Jackson. This shit is expensive enough already.

 

I watched a couple rods go thru last night actually they were pickups one went high one went low as far a how i figured em.
Dave

 

Yeah, I was surprised at that 55' Convertible too...that price seemed really low to me.

 

BJ has little effect on the value of what most any of us would pay for any given car or body or part. I'm not saying there are not people out there that think "I saw this for such and such a price on BJ, so that's what I'm selling it for", but those folks are quickly weeded out. Usually as soon as they figure no one is buying there whatzit for the "auction" price.

Yeah, when clones of a muscle car or a glass bodied hot rod gets more than the real deal, you tell me how much education some of these guys have. Craig B. said his auction is about passion, I don't think it's so much PASSION, but LUST. Lust for a shiny red car to be seen in or stuffed away in a "collection".

Just enjoy the auction for the spectacle it is. Better yet, buy the coffee table book they offer, that way, you can see the pretty cars and not deal with the egos and all that hollerin'.

 

Anyone that buys at BJ is foolish. That said, I wouldn't put too much stock in any prices you see, high or low, without having personally inspected the car. Also, as said in a previous reply, I'm amazed anyone is even there yet. Everybody I know doesn't fly in until Wednesday and doesn't show up at the tent until Thursday. All the best stuff goes on Saturday.

My personal feeling is that collector car prices are too high, but I felt that way in 2001 so I'm pretty clueless about the market I guess.

 

So I guess you preferred that annoying foreign asshat who refered to everything as a "bonnet" or boot"..... and Brock Yates who doesn't know a Deuce roadster from a Deuce cabriolet? Dumbasses. Both of them.

They didn't have an announcer who knew jack shit UNTIL last year.

As for the buyers, I don't think anyone is trying to present them as "knowledgable". The announcers mention over & over again that these folks can, & do, buy what they like.

I'm glad to live in a country where that's possible..... & where the haters are free to get bent over it for some reason.

JH

 

I like watching it and shit what is there to watch this time of year anyway. No sense getting all jacked up about what everything is selling for cause unless your there or online trying to buy big deal.They are gonna sell at what someone wants to pay and thats it. Im sure a bidding war gets things out of hand and so be it. I know a guy that was there one year and he told me you could go out after a car ran thru and find it in the car corral still for sale? Tv time? Bump up our ratings .. maybe
Dave

 

Did it go to Texas while it waited for the Jackson and is it green or black?

 

I gotta tell ya that even thou there is some high priced crap going on.....this is one of the KOOLEST car shows you can go to.....with about 1500 cars plus all the side show crap& yeah a lotta hot t&a...this is a happening I think what happens with the big dollar guys is they are trying to inpress their buddys or not look like a fool on tv,either way Im going friday just to watch the circus......

 

I have been to BJ auctions. The first night is always the best price for a buyer. I guess the crowd isn't as big, the headline cars are not on the block and the big money boys are still in Dallas or LA.

The same seems to go for the last day, say about noon. The high rollers are gone, the feeding frenzy is over, and the prices seem to get realistic. Especially in Florida. Florida always seems cheaper than Scottsdale. Bigger crowd, bigger bux?

I thought a few rods went way too cheap last night, including the last truck, a 54 dodge rod very nice for $15,750. WOW, you could not have built it for $25K.

Kermit

 

I agree with you MeatBall. I had an AWESOME time when I went out there. Just to be able to walk around and check out all the cars that will be going thru or that had gone through was exciting. Az, blue skies, sunshine, warm temps and a bunch of great cars......whats not to love??!!

 

i was watching yesterday too and noticed cars werent going for the usual barrett jackson pricing, which is good to see if you are a buyer. I cant remember how much it went for but there was a 56 t-bird that went pretty cheap

 

I don't know which announers are which. I haven't paid that much attention to it over the last couple of years. I do like looking at and hearing the cars though. Maybe I'll give it another shot tonight and try to ignore the all the non sense. I just feel weird watching it, after I've bad mouthed it so much over these last few years. I feel like a straight edge kid secretly drinking a six pack.

 

Boy, I would have like to have been foolish on a couple of those last night. In amongst all the egos, some guys walk away with some really great deals.
The hotrod roadster, the Dodge "Lil Red" pickup, 55 Chevy pickup. No way you could have build for that price. With cash, you can save time and money.

With all the whining here, and all the bullshit there, I will watch every minute.

Thanks to Mike Joy for remembering Benny Parsons.

 

I’m not a big B-J fan. I watched the auction a couple weeks ago, what the heck do you do with a vehicle you just dumped a million on? Having said that……I as well can’t find my ass with both hands when it comes to value……

1976 – Had a chance at a primo 1968 4spd Road Runner, $700.00. Bought a 1967 small block Vette for $3,000, and passed on a 1966 merino blue/white interior 427/4spd, ps/ac, factory side pipes Vette, the guy wanted $5,000.00, I thought he was too high.

1979 – Passed on a yellow 1967 327 Vette - $4,500.00, a 1962 327 Vette that need work - $4,500.00, and finally an all original drop dead gorgeous 1965 396/4spd coupe, $8,500.

 

I guess that makes me "Joe can't-afford-a-sixpack-lemme-bum-one-o'-those-beers"

Oh well, I can watch it fo' free

Oh yeah, and you never pay too much for a car---you just buy it too soon.

 

I think it was last year that a guy dropped a shitload of money on a Hemi Cuda and pissed off some folks by doing a big burnout and then I think he even drove it home. I saw a magazine article on him and they were driving some rare car around the city like it was nothing. If I was a gazillionaire I would probably buy some rare car and ruin it by driving the wheels off of it.

Wasn't it Leno who said he likes to take a 100 point car drive it until it is a 30 point car and then bring it back to a 100 point car? Now that is cool.

 

Did anyone else see the linclon that had the awning curtain and rods fall on the car hood after the sale? They were trying to drive out of the tent and the dud driveing was going too fast

I bet there were some tight buttholes after that one!!

 

Haha, I remember that.

 

Isn't that the same guy Hot Rod did a story on when they rode along with him as he drove a mega million $$ Hemi Cuda convert from LA to Phoenix?

I like his style.

JH

 

A buddy's of mines '53 Custom Chevy should be up tonight. Lot#437.1 Built the car himself and sold it about 2 years ago. I think it's been through a few owners since but it looks the same. Real nice car. Check it out if you get a chance.

 

Hell.last year the guy that spent...what was it? 4 million for that GM show bus drove it home thru phoenix out towards Chandler.........Now that was something to see coming down the road........ya gotta drive em! like Ive said before..its like livin with Pam Anderson and makin her sleep in the other room

 

My personal option is that BJ has ruined the "average" guy in this hobby. I had a customer call me about a 1968 Plymouth Road Runner he was going to buy. Since I've been around Mopar muscle cars for 25 years, he wanted to get my option on the value. Without seeing the car's conditon it would be hard to give him a value. I told him how to check the build tag and VIN number to determine if it was in fact a Road Runner. My customer said the seller was asking $2,500 for the car. The price seemed reasonable to me without seeing the car so my customer went to see the car the next day. When he got to the sellers house he called me on his cell phone and described the condition of the car. It needed a complete restoration, but everything was there. The engine was a 383 4 barrel, but may have been replaced at some point. When my customer said he would take it for $2500.00, the seller said he had watched BJ the night before and felt the asking price was to low, he now wanted $25,000.00!!!! My customer turned around and walked away without saying a word and drove off. As far as I know, the car is still for sell. FU BJ!