Barrett-Jackson Auction Prices

[Lee74C3]

This has nothing to do with a previous post about us old fat guys!

Does anyone think the prices are out of line? I guess if I were a seller... I'd be happy. But, I'd like to add a muscle car to keep my Corvette warm at night. I really thought some of the prices were way out of line.

One example was a C3 that was a "Streetable" NHRA 700 HP dragster. I think this car sold for over $30,000. Maybe the car is worth more in pieces? I just can't see this as a $30,000 car. These auctions are pricing the enthusiast out of the market.

First generation Camaro... don't even think about anything nice for under $30,000. Z28 ? You better have $50,000.
Buick Gran Sport - $32,000
Malibu SS Conv (LS6) - $118,000
Malibu SS Coupe (LS6) - $60,000

I saw some bargains also. I guess what really bothers me is these cars are being purchased as a "commodity" by "investors", not by enthusiasts who love them for what they are. Where is the sweat equity in the ownership of one of these cars?

OK, I'm done with my rant.

 

[Erik S. Klein]

I guess I can see how it might be sad, but the fact is that Corvettes have the two things that investors love: value and appreciation.

The fact that they are portable and fun to own makes them even more attractive to some.

The end result is that we're probably going to see more of this type of "speculative" investing in our hobby, not less.

The good news is that owners benefit because all Corvette values will appreciate with the inflation of the investment cars.

The bad news is, of course, that buying a classic Vette will get more expensive.

 

[vettenick]

I wouldn't put too much emphasis on the auction. Some of those vettes probably will never be driven. Like that '66 blue 427 for 80K. I think the "real world" cars never make the telecast. I would like to see them, but that's me.

 

[CQRT]

Vette-less- You just can't leave us old guys alone! In all honesty, I think it's probably middle aged, successful guys that can now afford to buy the toys their hard work has brought and these types of auctions are a great place to do it - - one of those "if you've got it- flaunt it" sort of deals !

I agree that prices frequently are a disconnect with reality-- the burgandy tubbed C-3 dragster for $32k ? Gimme a break. The Scottsdale version was just as bad-- but it's like a feeding frenzy and people get caught up in it.

A fella's just gotta know where reality stops and fantasy starts . . .

CQRT in AZ

 

[citruspilot]

Vette-less- You just can't leave us old guys alone! In all honesty, I think it's probably middle aged, successful guys that can now afford to buy the toys their hard work has brought

And its proably those same guys that dont do the wave! (Oh no not again!)

Jeff

 

[Robin7TFour]

GREETINGS ALL, this thread is an interesting lesson on how our spending has changed. we have become more financially stable than our fathers and grandfathers. we now have disposable income,that are ancestors dreamed about.
in the early 80's the baby-boomers got into street rods. and wow did the prices go up. then they saw harleys as something of a status symbol,and a bit cheaper too. now look at the prices of a harley.
so next we spent our extra money on cheap old muscle cars.i,myself bought a 68 camaro 327/manual for $800 ,now look at what it would cost.
anyway, as more and more old cars were bought up ,the market rose with it. bingo, the muscle car is now a hi dollar trinket for many to own. i can't fault someone for spending 600k on a corvette ,that only two were ever made. i only wish i had the money to buy the other.

my 02

 

[Glensgages]

I agree that prices frequently are a disconnect with reality-- the burgandy tubbed C-3 dragster for $32k ? Gimme a break.

I refuse to watch those type auctions...
YES, the buyers and sellers know their cars inside & out, but it seems to me, most of 'those-guys' treat these vehicles like a pimp treats a whore;
they only wanna get involved if it can make money for them, and that thinking does make it harder for young people to become involved...
I got into hot-rods long ago 'cause I like to DRIVE them, not as 'investments'.

As for the tubbed-out C3 (which I didn't see), that price might not be out-of-line, especially if it was a 'real'-race car;
I once envisioned building a Pro-Stock style '60 Impala, and the chassis shop bill would've been $25k just to 'build' around my existing bare body, and that didn't include motor, transmission, paint, etc.!!!

 

[mvftw]

I was at the Florida B-J auction last week and most sellers were crying, it was for the most part a 'buyers auction'. The Arizona auction was a 'sellers auction'. Some cars were out-of-control, but a lot were afordable (atleast while is was there, Sat. morning-afternoon).

 

[714Speed]

Check back in with those guys who paid over $150,000.00 for a plymouth or dodge in about 5 or 6 years after the hemi hype has died down. They'll be lucky to get back half their investment if you ask me. Corvettes seem to be much more "real world" and "down to earth" in their appreciation. Neil

 

[rgtrough]

Hey guys, a lesson I learned a long time ago about any type of collectable. They are only worth what someone is willing to pay. Peace Bud