I was there on Tuesday and had a lengthy conversation with the owner of an Ultima Can Am. He's from Michigan and likes to do some flipping of cars. This past summer he sold a Corvette, can't remember what year, plus added cash to buy an Ultima for $70,000. Shipping from the UK is included to closest port (NY), then, had paid $1100.00 for shipping to Michigan. $20,000 later, and with help from some friends, the car was completed. While breaking in the motor, a rod broke and he had to remove the back end of body and extract the motor to replace the rod, I think he said that set him back a few grand. He finally shipped the car to Barrett-Jackson via Fed Ex, at $1300.00 and was encouraged , by BJ, to put the car on the blocks for Friday evening to get the best price. So now, to have the privelege of selling his car there and during prime time, that set him back another $1600.00. He was in Arizona for 5 or 6 days, so add lodging and meals, let's say, $100 per day. He told me he was expecting to fetch about $140,000 for his car, sadly it only sold for $47.000. He had $90,000 into it just in the build, and once he paid the 8% seller's commission, well,... that poor guy will probably never set foot back in Scottsdale.
