Kirkham Flood Car up for auction

[mrmustang]

CLICK HERE

Same site has a wrecked Ford GT as well: CLICK HERE


I have no affiliation to either of these cars.



Bill S.

[ACademic]

Thanks for posting this. Surprised no one has commented yet (holiday week?).

Watching both and the Kirkham is at $40K (reserve met) with under 24 hours to go. I wonder if this was that Texas car that ended up in a canal and was posted here a while back hanging from a crane? Runs and looks complete? If it stays at $40K it could be well bought.

The GT has crept up to $108K (reserve also met). Two pristine examples recently went in the $220K range at Mecum-Anaheim. I'm guessing perhaps $20K in parts to get this one close to right (lower valance, rear diffuser, rear wheel, oil pan and Lord knows what else)?

Of course, each has a salvaged title so resale-ability is, hmmmmm, lower. Buy to keep and enjoy! Or where's Richard Rawlings to flip both?!?

[mrmustang]

Originally Posted by ACademic

Thanks for posting this. Surprised no one has commented yet (holiday week?).

Watching both and the Kirkham is at $40K (reserve met) with under 24 hours to go. I wonder if this was that Texas car that ended up in a canal and was posted here a while back hanging from a crane? Runs and looks complete? If it stays at $40K it could be well bought.

The GT has crept up to $108K (reserve also met). Two pristine examples recently went in the $220K range at Mecum-Anaheim. I'm guessing perhaps $20K in parts to get this one close to right (lower valance, rear diffuser, rear wheel, oil pan and Lord knows what else)?

Of course, each has a salvaged title so resale-ability is, hmmmmm, lower. Buy to keep and enjoy! Or where's Richard Rawlings to flip both?!?

Colorado, fresh water flood when a small creek decided it wanted to become a raging river. Water up to the bottom of the dash I believe, in the owners garage along with his Caterham "7" which is also being auctioned off on the same site by the insurance company who paid off on both cars.

That is all I know, so no PM's will be responded to asking for more information.......I do not have any other information...........


Bill S.

[madmaxx]

I need a bigger garage!! Looks like a great deal. Budget worse case 20k for mechanicals, 5k for interior and cosmetics and your at 65k for a kirkham. Thanks for posting!!

[sea2jet]

61K and still climbing. Not including the buyers fee ($2000)and State Tax at 2.5%. Not bad considering it probably could have been bought for between 70-75K before the flood damage/salvage title. Asking price was 75K and that included a 2 four barrel carb setup and a top. They weren't included in this sale. If someone from this board bought the car, I believe the original owner has those items and would let them go.

[ACademic]

If the posted end times of both auctions hold true (after the last bid sticks for at least 10 minutes thereafter), the Kirkham went for $61,105 and the Ford GT for $139,880. Not so sure either was 'well bought' at those levels (salvaged titles and all).

[sea2jet]

Close, the Cobra sold for $61,155.00 plus fees. Almost 65K in all, plus state sales tax if the buyer wasn't a dealer.

[Steve Cassani]

If the cars are restored to an 'as new' condition, can the titles be revised to take the change into account? If so, is the seller still obliged to disclose the cars' histories?

[Bernica]

A great buy for someone! I also wonder with a "specialty built car", if you would be able to petition the DMV for non-salvage title. I doubt it without the insurance company being involve. But, if you can prove it has been completely once-again gone through as a Specialty-Built car and no physical / structural damage with pics and docs, would you have a chance?

[RodKnock]

Originally Posted by sea2jet

61K and still climbing. Not including the buyers fee ($2000)and State Tax at 2.5%. Not bad considering it probably could have been bought for between 70-75K before the flood damage/salvage title. Asking price was 75K and that included a 2 four barrel carb setup and a top. They weren't included in this sale. If someone from this board bought the car, I believe the original owner has those items and would let them go.

To sell a nice Kirkham today, I'd expect to see a sales price of around $90-100K or more depending on the build. One would have to be truly desperate or in dire straits to sell a Kirkham at $70-75K. A basic roller is $70K with no options last I checked.

In my mind, any salvage car would have to be bought at roughly 50% of market value, thus well bought for me for this Kirkham at or under $50K assuming no fatal flaws.

[Bernica]

Yup, I agree. "well bought for me"....does that mean you have it Rodnock?

[sea2jet]

Here is the original ad, with no takers at 75K.

Kirkham 427 S/C (# KMP336)

I agree, under 50K would have been a good buy.

[MRGEORGE077]

Does anyone know how you get a good title (something other than salvage) out of the State of Texas once it has been rebuilt?

[patrickt]

Originally Posted by MRGEORGE077

Does anyone know how you get a good title (something other than salvage) out of the State of Texas once it has been rebuilt?

Restrictions

May Not Retitle
A motor vehicle titled with one of the following nonrepairable ownership documents may not be rebuilt, reconstr ucted, retitled, or registered under any circumstances:

• a nonrepairable motor vehicle for which a Texas Nonrepairable Vehicle Title was issued on or after September 1, 2003;
• a comparable out-of-state title or other ownership document that indicates that the vehicle is nonrepairable, junked, for parts or dismantling only; or
• a vehicle for which a Certificate of Authority to Dispose of a Motor Vehicle to a Demolisher for Demolition, Wrecking or Dismantling Only (COA) has been issued.

May Retitle
A motor vehicle titled with one of the following salvage ownership documents may be rebuilt, reconstructed, retitled, and registered:
• Texas Salvage Certificate issued prior to September 1, 2003;
• Texas Salvage Certificate of Title issued prior to September 1, 2003;
• Texas Nonrepairable Certificate of Title issued prior to
• September 1, 2003;
• Texas Salvage Vehicle Title issued on or after September 1, 2003; or
• Comparable out-of-state ownership document

But, I'm a firm believer that if you throw enough money at something you can do anything, regardless of what the regs might say. That said, the full Salvage Dealer and Motor Vehicle Information doc can be downloaded here: ftp://ftp.dot.state.tx.us/pub/txdot-...tr/salnrmv.pdf If you're even thinking about playing this type of game, it's a must-read.

[Bernica]

You're a deep well PatrickT. How deep and what's at the bottom almost scares me.

[patrickt]

Originally Posted by Bernica

... and what's at the bottom

... a deep, thick layer of sludge.

[MRGEORGE077]

WOW!! thanks Patrick, I had no ideal.

[madmaxx]

Easier ways to make money than deal with the clerks at the courthouse and the runaround. Texas isn't the joke it used to be with titling.




QUOTE=patrickt;1277897]Restrictions

May Not Retitle
A motor vehicle titled with one of the following nonrepairable ownership documents may not be rebuilt, reconstr ucted, retitled, or registered under any circumstances:

• a nonrepairable motor vehicle for which a Texas Nonrepairable Vehicle Title was issued on or after September 1, 2003;
• a comparable out-of-state title or other ownership document that indicates that the vehicle is nonrepairable, junked, for parts or dismantling only; or
• a vehicle for which a Certificate of Authority to Dispose of a Motor Vehicle to a Demolisher for Demolition, Wrecking or Dismantling Only (COA) has been issued.

May Retitle
A motor vehicle titled with one of the following salvage ownership documents may be rebuilt, reconstructed, retitled, and registered:
• Texas Salvage Certificate issued prior to September 1, 2003;
• Texas Salvage Certificate of Title issued prior to September 1, 2003;
• Texas Nonrepairable Certificate of Title issued prior to
• September 1, 2003;
• Texas Salvage Vehicle Title issued on or after September 1, 2003; or
• Comparable out-of-state ownership document

But, I'm a firm believer that if you throw enough money at something you can do anything, regardless of what the regs might say. That said, the full Salvage Dealer and Motor Vehicle Information doc can be downloaded here: ftp://ftp.dot.state.tx.us/pub/txdot-...tr/salnrmv.pdf If you're even thinking about playing this type of game, it's a must-read.[/quote]