Car Auction $$$$ Way Off?

[terry lee]

WELL GUYS AND GALS TOO, I JUST WANTED TO SHARE THIS INFO WIYH YOU.

Yesterday I spent the day at the RM Classic Car Auction in Boca Raton Florida. After watching the Barrett Jackson auction last month I was anxious to see first hand what the cars are bringing today. The bottom line in my opinion is that the resale market is off by 20 - 25% of what it was.

Cases in point:
1. A '98 alum. Kirkham painted red w/hite stripes w/ the Kirkhams own 427 side oiler and 4 speed top loader had a reserve of $90K, it brought a top bid of $55K - not a whole lot of interest - did not sell.

2. A Contemporary Cobra ('98 I believe) was auctioned as having a 428 Cobra Jet engine and sold at $33K.

On the other hand:
I was told that on Saturday an original 427 race setup Cobra with impressive racing history (incl. Bob Bondurant and Dan Gurney) went for $525K. (I took pix of car and will try to post later. I haven't done that yet, so bear with me.) All the Shelby Mustangs went thru on Saturday and sold. I don't know the amounts. I saw a real nice '65 GT350R (totally restored), a'66 GT350 street car, '2 - '67 GT350's - one red w/white stripes, and one lime green and white stripes. All really nice restorations.

Several other Fords of interest:
'69 Boss 302 Race car (Orange and black) did not sell
'69 Mustang rag top red white interior, auto, with a 429 NASCAR motor (biggest valve covers I have ever seen) sold at $33K(?)
'66 GT350 rag top (original Shelby) painted some shade of light lime green (odd color) sold: price ??? real nice car though.

There were many other cars that ran thru, but I would say that on the whole, for the entire 3 day auction; if they sold 50-60% of the cars that were run thru, it would be alot. I am only guessing by what I saw run thru on Sunday, and the cars that were run thru earlier and still available as of late Sunday.
My take: it's a buyers market now. If you don't need to sell, sit tight and fasten your seat belt for awhile.

I hope this is of some interest.
TL

[B. SMITH]

TERRY,

CAN'T WAIT TO SEE HOW BARRETT-JACKSON DOES WHEN THEY COME HERE TO S. FLA. THIS SPRING.

B. SMITH

[HIQ]

I think "traditional" classic car auctions are the wrong place to sell a Cobra replica. The market is too thin, and most classic car collectors look down on them. To get market value, you need to find an educated buyer who is looking for your exact car.

[Blue66]

"'66 GT350 rag top (original Shelby) painted some shade of light lime green (odd color) sold: price ??? real nice car though."

that was "yellow" ...sold for $275K + fee's




Dan
"blue" 66 GT-350 conv