SOHC "Cammer" CSX 4786 No Reserve in Monterey

bmalone · #1 (**permalink**) 08-20-2012, 01:00 PM

Actually, I was pretty happy with the results. We all have a different mindset when we go into these things and there are things that people don't know about a given car.

I was hoping for 135 and I did think I had a realistic chance to get it. In my case, the no reserve auction was the correct method. I was not bringing the car back, I had a great run time (by virtue of NR), and I had lots of interested bidders.

What I noticed was that values were off about 20% across the board and that was kind of my expectation initially, borne out by what I saw. So, the 110 was consistent with a 20% haircut.

I think the one thing you all do not know about the car is that it cost exactly 81K to put on the road. So, you can see why I was happy and why I also chose a NR auction.

I will say I was happy with the promotion R&S did on the car. Like every car across the block, I felt not enough time was given - and I definately felt there were more dollars left before I had to leave. I was told they would shoot for 135 and was a little disappointed they didn't do more to close in on that number. But, as I said, I was treated the same way as everyone else and I understand they have an auction to run.

Not to mention, the process from the staging line onward was tremendously exciting and I had a fantastic weekend with good buds.

PatBuckley · #2 (**permalink**) 08-20-2012, 02:12 PM

Kind of like the feeling you get in your stomach the days before a big race, eh, Bill?

I watched the auction and have to say I was nervous for you!

bmalone · #3 (**permalink**) 08-20-2012, 02:24 PM

Exactly like that.

mhacars · #4 (**permalink**) 08-20-2012, 03:00 PM

Bill,

I am glad to see that your expectations were met and that your build cost was at a significant discount to what a lot of these cars cost to construct. It makes me think about my cars as my CSX cost significantly more to create back in 2006. As well, I am now deep into a Shelby GT40 Cammer project and although I did not buy these cars for investment purposes it makes me wonder if I ever want to sell these items what the market value will be in relation to my costs. This is especially true when I hear of a Superformance GT40 costing in excess of $200K to build sells for $60K. No one has a crystal ball about future market value, but it makes you think perhaps you buy a pre-owned car and make it your own as opposed to starting from the ground up.

RodKnock · #5 (**permalink**) 08-20-2012, 03:12 PM

Quote:

Originally Posted by mhacars

This is especially true when I hear of a Superformance GT40 costing in excess of $200K to build sells for $60K.

The SPF GT40 sold for $64,000 plus the commission or about $70,000. Also, it was a MKII, which tend to be less desirable than a MKI IMHO.

One theory being postulated is that continuation series cars and replicas of any kind tend to do poorly at auction especially when the Monterey auctions where they don't get top billing because of all the expensive original period cars.

mhacars · #6 (**permalink**) 08-20-2012, 03:20 PM

RodKnock,

That is a good point and I agree to some degee. Unfortunately, prospective buyers use previous sales as a yardstick for their perception of market value. Sometimes that works to the benefit of the seller and sometimes it does not. In any event, I feel for the guy who sold that GT 40 especially since mine is a MKII......

RodKnock · #7 (**permalink**) 08-20-2012, 03:34 PM

Quote:

Originally Posted by mhacars

RodKnock,

That is a good point and I agree to some degee. Unfortunately, prospective buyers use previous sales as a yardstick for their perception of market value. Sometimes that works to the benefit of the seller and sometimes it does not. In any event, I feel for the guy who sold that GT 40 especially since mine is a MKII......

You have a good point too, but the counter point to some future buyer of your car or any MKII is "Then you can always buy a new roller ordered to your specs for an MSRP of $86,000 or you can buy this one here now on sale for $74,000, but you have to like yellow with meatballs....."

1966 New Superformance GT40 Mark II at Dynamic Auto West Serving Redwood City, CA, IID 7725357

BTW, the MKII that sold in Monterey had an unknown SBF in it, when it should have had an FE, and it was an early car and with only 50 miles on it, and will likely have a few sorting issues to keep the new owner busy. Still a good deal nonetheless.