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Auction prices
I understand that an auction is just an auction and can't be taken too seriously but I was watching the auction in Scottsdale last night and A polished Kirkam FIA sold for about 95,000 and a fiberglass 6000 shelby sold for something like 55,000, although I'm probably completely wrong on that last number. I certainly would've thought the Kirkam would've sold for more money? Does anybody have any info on these cars? Were they beat up or is the hobby seeing a downward trend, the same way we've seen a downward trend for bigger older cars like my galaxie R code?
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I haven't looked at the auction results yet. |
Prices are down on some cars and seem to be holding or even up a little on others. I watched Mecums last week and they had a lot of cars that never sold. Two of thge more notable were a Ferrari that had a high bid of $9 million and one of the three remaining GT-40 prototypes that raced at LeMans and it had a high bid of $10 million and never sold.
I have been watching the Scottsdale auction and they don't seem to even be getting the bids that Mecums did. Ron |
The prices seemed to vary a lot. Some custom cars commanded high prices ($300K for a rest-o-mod 65 corvette) and others much less. The Kirkham looked great to me and you certainly could not replace it for 95K. There were some nice r-code Gal’s that went pretty cheap (57.2K for a 63 xl r-code). I do think the Cobra replicas are going to face a headwind going forward. Not many young people know what a Cobra is anymore.
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I saw the Kirkham or was it a polished Shelby? They had it listed as a 65 Shelby, so who knows what that means.
A lot of the pre-muscle cars were going pretty cheap. 55-57 Chevy's, which have always been a pretty good money makers were selling for average street prices. Not the massively inflated prices they normally get. About the only cars getting big money were Corvettes, Camaros, Cuda's, and the typical GTO/Chevelle/442 cars. |
I watched a cobra replica sell for (I think) about 65K last night.
Seems like prices overall are sliding down a bit. Special cars with very significant history seem unaffected for the most part. |
This one never did to bad.
The first 2020 Ford Mustang Shelby GT500 sells for 1.1 million dollars at Barrett-Jackson Auctions Scottsdale Arizona! Take a close look at what makes the ULTIMATE Ford Performance Mustang! Featuring a supercharged 5.2L cross-plane crank v8, with over 700 horsepower, and more! This is the first ever Mustang to be equipped with a 7-speed dual clutch automatic transmission. The all-new Ford Shelby GT500 will be feature a carbon fiber track package, bringing exposed 20" carbon fiber wheels, as well as a GT4 style rear wing, and more. Ron |
As a note, there were three F5R cars that sold. A type 65 coupe sold for $ 77k, and two GTM's sold, one for $ 85k, and the other for $ 88k.
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Think the 6000 I saw was 98k with 10% premium So roughly 108k which is market.
I think it’s truly a Resto mod cycle now however cars are still a passion for many and solid places for money when compared to other things..... Also feel for replicas the "replication" is key. When weirdly done they can be a huge risk to the seller or buyer. When a Testarosa sells at $130k and one of six GT500 struggles for $118k amongst what appears to be more 60’s corvette resto mods sold than there was produced for $250k + it’s a timing thing. Either way I personally love these cars and will buy more. At least what I can get momma on board with �� the expense. |
Went to the Russo Steele auction last Thursday (first day, for them). The highest price paid, that I saw in the 6 hours I was there was for...some sort of special edition Jeep Rubicon! $80,000 plus the 10% fee, plus the 7% sales tax! Couldn't believe it, still can't. I'm obviously missing something. They did run through some very nice cars and had the really cool stuff going Friday, and especially Saturday. A good looking Unique with a 427 SO and top loader brought $34K, plus the fee and tax. I thought that was plenty, but then, I don't really know anything about Unique Cobras. May well have been a good deal, considering the drive train. Looking forward to seeing their results on the '05 or '06 Ford GTs they had and especially the original Cheetah. (one of what 8 or 10?)
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I saw one of the Eleanor “Gone in 60 Seconds” movie cars sell for $350,000, plus premium, which is outrageous to me. I’m a big fan of the car and the movie, but gee whiz.
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Be interesting to see if market prices tip upwards after the theatrical
release of "Ford vs Ferrari", June 28th this year. Matt Damon as Shelby and Christian Bale as Ken Miles. |
I just returned from Barrett-Jackson, the early Corvette customs were the stars of the show. I think people want a car they can drive and enjoy, and not have to worry about it.
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That is cool with me. I've never been able to figure out the value of having every period or comma correct on the date perfect replacement part. I do value unrestored cars though.
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I sold a 1940 Custom Mercury at BJ last year.... It didn't take me too long to realize that Barrett Jackson was not the best venue for a custom. The Resto Mods were going for what I thought was crazy money and having a Saturday night timeslot assumed I was going to kill it. Unfortunately, the opposite happened, got 75K but hoped for much, much more. Oh well, it was fun. There seemed to be an endless supply of Corvettes and Camaros, same as this year.
I know the owner of the 289 was less than thrilled with his take, 95K less the sellers commission and he pockets 85K.... not to mention the costs associated with getting the car to the auction, detailing, tickets, etc.... probably cost him another 5K for the weekend. 289's have a smaller audience than the 427's, obviously. No question the car is a stunner... Not sure if he had it for sale somewhere else previously or not. I would have guessed it to go for $110 or so, all in all not that bad. |
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