Sharks at Barrett Jackson!!!

[MRANT212]

With the C1 and C2 prices out of control the Sharks are coming on strong. If you check their website of sold cars you will see some pretty steep Shark prices!!! A 71 LS5 4 speed with some engine work and nice paint...54k!! A 69 tri-power...116k! A 78 Pace car went for some BIG bucks...charity car though. Looks like many of the Sharks are outperforming the S&P ,the Dow and the NASDAQ!!! After seeing a Dodge Super Bee sell for 200k I had to throw up!!! Who has this money???? Are they crazy??? A Big Block C2 for under 100k is now considered a bargain!!!:eyerole Im just happy and enjoy my own toys...If they go up in value its just another added bonus!!!

Anthony

 

[bluecoupe]

With the C1 and C2 prices out of control the Sharks are coming on strong. If you check their website of sold cars you will see some pretty steep Shark prices!!! A 71 LS5 4 speed with some engine work and nice paint...54k!! A 69 tri-power...116k! A 78 Pace car went for some BIG bucks...charity car though. Looks like many of the Sharks are outperforming the S&P ,the Dow and the NASDAQ!!! After seeing a Dodge Super Bee sell for 200k I had to throw up!!! Who has this money???? Are they crazy??? A Big Block C2 for under 100k is now considered a bargain!!!:eyerole Im just happy and enjoy my own toys...If they go up in value its just another added bonus!!!

Anthony

Speed Channel and Barrett Jackson are killing the classic, muscle and custom car market out of their geed for quick profits. The over-priced market caused by all the hype will blow-up just like the dot com and Harley Davidson bubbles of the 90s did. Just sit tight for a few years and there will be lots of real bargins out there. The retro-mods and clones are the most outragous and over valued cars of the bunch. The Corvettes should not feel as much pain but the market overall will normalize once the dorks with more money than brains get tired of the hobby. Eventually most of them will figure out that you can't buy cool. The rest of them will die off soon and their kids who have no idea what these cars are all about will sell them off cheap and spend the proceeds on new SUV Hybrids.

Frank

 

[bill81vette]

When I was at carlislie last year, the prices were starting to climb for some of the C-3's

 

[Andy]

Morning Guys.

While the BJ auction is neat to watch....some of the prices are as we all know quite unrealistic. One car that passed the block yesterday , the original #2 Greenwood GTO with only a few thousand miles on a frame off only sold for $50,000.00. Granted, thats good cash...BUT folks who know this car and it's history were expecting much more....How can a VW sell for $40,000.00 and this car go for only $10,000.00 more. This shows me that some of the high bidders at BJ, while obviously are car guys for sure, are not looking 'Deep enough" into a cars history or "upside". Just my 2 cents....

Andy

When I was at carlislie last year, the prices were starting to climb for some of the C-3's

 

[gmjunkie]

How can a VW sell for $40,000.00 and this car go for only $10,000.00 more. This shows me that some of the high bidders at BJ, while obviously are car guys for sure, are not looking 'Deep enough" into a cars history or "upside". Just my 2 cents....

Andy

Andy, You weren't paying attn. That "Kraut Can" brought $43,000 junk!!

 

[JJS]

I feel very fortunate that my wife gave me the green light to buy my car when I did. There's no way I could afford the same car today.
I have all the work done by a guy that restores corvettes for a living, and he told me last year the car's value is about double what I paid for it, and he told me to hold off on another appraisal (I had it appraised the year before) 'till this coming year.
He told me "I stole it," regarding what I paid for the car....I told him I just got lucky and bought before these over inflated prices tickled their way to the C3's. It's auctions like Barrett-Jackson that have created this monster, and now most people who have dreamed of owning one of these since they were kids (like me) well, the prices are beyond their means.
Another effect these ridiculous prices have had, at least on me is, I bought the car to drive it, and now I'm afraid to! One of the guys selling a Shelby at the auction last night sold it for his daughters education, and because he was afraid to drive it and leave it in a parking lot. He couldn't enjoy it because he was afraid to drive it. -John

 

[Andy]

Hey John..I hear ya!!!

Will be interesting to see what happens in April at Carlisle. They have a new thing this year at the new Civic Center....Car Auctions...lets see if the prices their as well skyrocket...

Lance...Is their a rundown yet on the cars that will be available for auction?

Andy

I feel very fortunate that my wife gave me the green light to buy my car when I did. There's no way I'd be could afford the same car today.
I have all the work done by a guy that restores corvettes for a living, and he told me last year the car's value is about double what I paid for it, and he told me to hold off on another appraisal (I had it appraised the year before) 'till this coming year.
He told me "I stole it," regarding what I paid for the car....I told him I just got lucky and bought before these over inflated prices tickled their way to the C3's. It's auctions like Barrett-Jackson that have created this monster, and now most people who have dreamed of owning one of these since they were kids (like me) well, the prices are beyond their means.
Another effect these ridiculous prices have had, at least on me is, I bought the car to drive it, and now I'm afraid to! One of the guys selling a Shelby at the auction last night sold it for his daughters education, and because he was afraid to drive it and leave it in a parking lot. He couldn't enjoy it because he was afraid to drive it. -John

 

[MRANT212]

So true what many of you are saying...I just cant seem to grasp the inflated prices of clones. Vettes will always hold their own in price. When you look at today it makes me wonder should everyone be out buying ricers and storing them!!!The musclecar thing may be somewhat overinflated but basically individuals are buying American history of the automobile. I find it funny that musclecars are blowing away vintage Rolls Jags and Lamborghinis! Its supply and demand. As Detroit reinvents the musclcar with the future Challenger and Camaro the originals should still command a decent price. I guess one can compare it to rare forms of art. You can get a copy bit the original will always be priced out of whack. The Corvette is history and will always be. Most on this board buy the car for its merits not its upside appreciation. Barrett Jackson and some of the specialized classic Vette dealers have created this market with inflated prices. If it keeps going it doesnt matter to me. If it doesnt who cares. I got mine already!!!

Anthony

 

[Superman]

I saw a 69 go for $310,000 the other day.

Told the wife the $10,500 I am spending on the 76 wasnt so bad now, was it?

 

[MRANT212]

10,500 is a steal...So its not an L-88 (thats what the 69 was) Tell your wife you will only need another 300k for some improvements!!! For 300k worth of engine and suspension you can pretty much develop the fastest Vette ever!

 

[Koop]

L88 1969? That'd be one of 2.

 

[srs244]

Speed Channel and Barrett Jackson are killing the classic, muscle and custom car market out of their geed for quick profits. The over-priced market caused by all the hype will blow-up just like the dot com and Harley Davidson bubbles of the 90s did. Just sit tight for a few years and there will be lots of real bargins out there. The retro-mods and clones are the most outragous and over valued cars of the bunch. The Corvettes should not feel as much pain but the market overall will normalize once the dorks with more money than brains get tired of the hobby. Eventually most of them will figure out that you can't buy cool. The rest of them will die off soon and their kids who have no idea what these cars are all about will sell them off cheap and spend the proceeds on new SUV Hybrids.

Frank

i have been saying the same thing for the past couple of years. the problem as i see it is that they continue to foster these ridiculous prices by re-inflating the value of cars that were overpriced when they sold them several years ago by reselling them this year, lol!! it really points out how much dumb money (throw away type expendable $$) exists out there!!

 

[JohnZ]

L88 1969? That'd be one of 2.

Nope, one of 116. The "2" was ZL-1's.

 

[bossvette]

Nope, one of 116. The "2" was ZL-1's.

I wonder if that number will start to climb as the Sharks gain popularity

 

[RodsnRides]

HOW much...?!

I, too, am amazed at the prices the cars are getting. I well remember the mid-70's when SS Chevelles, 442's, GTO's and the like were on the way cheap due to the "gas crisis". Sidebar-don't we wish our gas prices now were what they were THEN?

That '70 GTO 'vert for $200K? Amazing! And these "Recreation" (clone) cars-now that is just downright crazy, ridiculous money. You mean to tell me if I take a plain old '69 Camaro, buy a bunch of BB engine parts, bolt in a posi and 4-speed, suddenly it's worth a house? OMG...:eyerole

I am just glad I have scored the cars I have, now. I agree with the earlier postings, it's just a matter a time, auction frenzy, etc.-this too, shall pass.

Hmm-I DO have 2 '70 El Caminos-and 2 '72's. Can you say "Recreation" LS-6 454 SS...? I already have 2 sets of the SS wheels...and a cowl hood... Somebody STOP me! :crazy

Rick

 

[BruceBed]

Remember when Ferrari's were the "investment car" to have in the 90's. The last man standing with the bag is "it"...

 

[goertz]

Speed Channel and Barrett Jackson are killing the classic, muscle and custom car market out of their geed for quick profits. The over-priced market caused by all the hype will blow-up just like the dot com and Harley Davidson bubbles of the 90s did. Just sit tight for a few years and there will be lots of real bargins out there. The retro-mods and clones are the most outragous and over valued cars of the bunch. The Corvettes should not feel as much pain but the market overall will normalize once the dorks with more money than brains get tired of the hobby. Eventually most of them will figure out that you can't buy cool. The rest of them will die off soon and their kids who have no idea what these cars are all about will sell them off cheap and spend the proceeds on new SUV Hybrids.

Frank

I used to think so too, but I don't now. I remember in the late 80's, the muscle car market took off. But at that time, it was falsely inflated due to investor interest. The cars abounded, but were priced out of the market by people that just wanted them for their portfolio. I think today we are seeing true inflation, supply and demand. The guys buying these cars are not investors, as much as they are normal enthusiasts who plan on driving and keeping the car. Last year, I sold a survivor 1971 LT-1. I bought it from a guy that bought it because he loved driving it, and I sold it to a guy that planned on keeping it and driving it. Neither of them were investors. I couldn't keep it because it made me crazy when I took it out. It was too original, and too perfect for me to feel comfortable. The supplies of these cars are not what they were in the 80's and 90's. Now, it's difficult to find a nice, original C-3. Plenty have been raced to death, hacked apart, and destroyed over the years. I think what we are seeing now is an accurate market due to supply. Personally, I don't think we are going to see a "bubble" burst, like we have in the past. Go try to buy a 1940 Ford coupe, they are expensive because there just aren't that many around anymore. I think we are seeing the same thing. It's great for us that have the cars, but bad for those looking to get into one, and bad for us when we drive them, for fear of damage. I know I'll keep mine for quite a while. A guy could really clean up by buying a nice example from ebay, and going to BJ and selling it for top dollar.

 

[73383]

I have been around collecter cars and vettes since 1976. There are many things that effect values, style, trends, etc. However the one thing that effects them most are intrest rates. When interest rates are low these cars do very well, when interest rates go high they do not do as well. I do not expect the bottom to fall out unless interest rates go above 12-15%.
15-20 years down the road the road the availability of gasoline may become a factor.

 

[John Ulrich]

Remember the ads in the newspapers paying $20,000 for a buffalo nickel?
Yep only a few were worth that but the untrained public was thinking the shoe box in the closet with worn out coins was worth a fortune.

Same story now. Public thinks anything with 4 wheels in fiberglass is a fool proof investment. Common Vettes will always be available for good prices. I purchased my first Vette in 1978 for $4,000 it was nice but no show piece.
Look in the C3 forums on the web. You can still find em for $4,000-8,000 for nice drivers.....What happened to inflation???? a new $6,000 Chevy in 1978 dollars is around $25,000 today.

Later,
JU

 

[paintdaddy]

This has been good for business though.I have gotten three cars in this past month due to that auction.I hope all this hype keeps up with no bubble bursting.One is a lady that plans on buying 3-4 a year and taking them to BJ.Dont worry she knows what shes doing,I explained the ins and outs and how its a fine line sometimes going too far and spending too much $ on an auction car.