Extreme depreciation?

[Marauderfh]

Is the current Backdraft market extremely soft?
I'm about to buy a new build for around 85k amd I was doing some research on prices. Outside of the kissimmee mecum prices which were outrageous, I'm seeing used backdraft going for 60k with less than a thousand miles on them. And anything more is about 30k. Several around 12k.
These cars are listed on trovit when you search Backdraft.

Going from 95k at some places to 30k seems like the highest depreciation in five years I've ever heard of.

Is this just how it is for Backdrafts?

What am I missing on these trovit cars?

[Tom Wells]

Maraud,

What am I missing on these trovit cars?

Possibly what you may not be aware of is that trovit is a site that contains highly questionable information.

Tom

[Marauderfh]

Originally Posted by Tom Wells

Maraud,



Possibly what you may not be aware of is that trovit is a site that contains highly questionable information.

Tom

So something akin to how C8's are being listed at MSRP everywhere on some sites despite them not existing when you call? So I should be confirming whatever is on there against an actual listing somewhere.

Fair enough.

What do you think a 2-3 year old backdraft with say 4000 miles on it would be worth if it had a ford racing 427. Total ballpark. I mean like 60ish or more like 30ish?

Part of buying involves me trying to determine the market within some reasonable level. I know it's not possible to get it perfect.

[ront49]

Originally Posted by Tom Wells

Maraud,

Correct, don't believe what you read on Trovit....

Possibly what you may not be aware of is that trovit is a site that contains highly questionable information.

Tom

Correct, don't believe what you read on Trovit...

[EM-0785]

You can go to Bring A Trailer, look up Auctions, then Results, then scroll down a bit to the Completed Auctions 'Search Archive' text entry box, type Backdraft, then enter, and see actual sales prices of recent Backdrafts of different configurations. The prices that reflect 'Sold for' are actual sales, the prices that reflect 'Bid to' reflect the highest bid that did not meet reserve so not an actual sale price, so assume the actual value is something higher than the 'Bid to' amount on those. Best of luck. Brent

[cycleguy55]

Originally Posted by EM-0785

You can go to Bring A Trailer, look up Auctions, then Results, then scroll down a bit to the Completed Auctions 'Search Archive' text entry box, type Backdraft, then enter, and see actual sales prices of recent Backdrafts of different configurations. The prices that reflect 'Sold for' are actual sales, the prices that reflect 'Bid to' reflect the highest bid that did not meet reserve so not an actual sale price, so assume the actual value is something higher than the 'Bid to' amount on those. Best of luck. Brent

Like this: https://bringatrailer.com/auctions/r...arch=backdraft

As of when I posted this there were 21 completed auctions. Scroll down the page about half way and you'll see them.

[Johnnyd]

Originally Posted by cycleguy55

Like this: https://bringatrailer.com/auctions/r...arch=backdraft

As of when I posted this there were 21 completed auctions. Scroll down the page about half way and you'll see them.

I’m the guy that paid 88k on BaT. My budget was 80 but here is the reality. My wife was only just warming to the idea of a Cobra, when I had bring-a-trailer open on my iPad on our bed. Yes ala Christmas Story when Ralphie placed the Red Rider ad into Life magazine. Smooth, right? Well it worked! My wife fell in love with that green. It also had a SB100 which allows me to register in California with no smog check for the life of the car. So worth 88k? Just ask anyone who crawls out of it after a ride!

[Soundkillr]

Originally Posted by Johnnyd

I’m the guy that paid 88k on BaT. My budget was 80 but here is the reality. My wife was only just warming to the idea of a Cobra, when I had bring-a-trailer open on my iPad on our bed. Yes ala Christmas Story when Ralphie placed the Red Rider ad into Life magazine. Smooth, right? Well it worked! My wife fell in love with that green. It also had a SB100 which allows me to register in California with no smog check for the life of the car. So worth 88k? Just ask anyone who crawls out of it after a ride!

I completely understand and agree. Ive been watching values on the backdrafts rise...(along with other vehicles) A 80-90k used bdr isnt unheard of.

[patrickt]

Originally Posted by Johnnyd

I’m the guy that paid 88k on BaT. ... So worth 88k? Just ask anyone who crawls out of it after a ride!

Anybody that gives you crap about buying the car is really just bugged that you had $88k sitting around that you could drop on a toy.

[cycleguy55]

Originally Posted by patrickt

Anybody that gives you crap about buying the car is really just bugged that you had $88k sitting around that you could drop on a toy.

100% correct. Often, the most critical are the ones who can't stroke a cheque for a car like these. They can't afford one, so they to try and ruin the experience for those who can.

[mrmustang]

Originally Posted by Marauderfh

Is the current Backdraft market extremely soft?
I'm about to buy a new build for around 85k amd I was doing some research on prices. Outside of the kissimmee mecum prices which were outrageous, I'm seeing used backdraft going for 60k with less than a thousand miles on them. And anything more is about 30k. Several around 12k.
These cars are listed on trovit when you search Backdraft.

Going from 95k at some places to 30k seems like the highest depreciation in five years I've ever heard of.

Is this just how it is for Backdrafts?

What am I missing on these trovit cars?

As with anything else, buying a Cobra replica, new or used, should be treated not as an investment, but as a toy you want to have. Depreciation, absolutely. to the extent that you show above, not likely. Just figure as soon as your sign the paperwork and take possession, you have lost 20%, as they continue to build new ones, your older build will depreciate further. How much further depends on your specific cars specifications. Interior color, exterior color, rims, tires, drivetrain will all affect your cars specific depreciation and ultimate value upon resale.

Bill S.

[Mongoose930]

A few recent Backdraft sales here:
https://www.cobracountry.com/cars-fo...-bdr1325-yale/
https://www.cobracountry.com/cars-fo...-auto-estates/
https://www.cobracountry.com/cars-fo...g-427sc-cobra/

[Lucky275]

#1325 in that link had multiple buyers within a few hrs, I was not 1st or 2nd in line so I missed out.

[twobjshelbys]

An 85K Backdraft? Rather than thinking the 40 or 50K cars are depreciated I'm of the opinion that the 85K car is over inflated and will have a major depreciation reset when reality finally returns.

For 85K you'd just as well jump up to a Superformance or ERA and get something that will at least hold its value.

Cars are not an investment.

[Marauderfh]

Originally Posted by twobjshelbys

An 85K Backdraft? Rather than thinking the 40 or 50K cars are depreciated I'm of the opinion that the 85K car is over inflated and will have a major depreciation reset when reality finally returns.

For 85K you'd just as well jump up to a Superformance or ERA and get something that will at least hold its value.

Cars are not an investment.

Yeah I assume though with an installed drivetrain it would be hard to find a new one for less than this.

And yes it makes the most sense to be the second owner.

Being a trailer does seem to give the full story. And bdr has definitely gone up in value the last two years.

[patrickt]

Originally Posted by Marauderfh

Going from 95k at some places to 30k seems like the highest depreciation in five years I've ever heard of.

I look at it this way: I bought my ERA over 15 years ago and, at that time, Peter told me I could never sell it. Even if he hadn't said that, I still would never sell it. So how much is something worth that you can't, and would never, sell? Arguably, nothing. So that's a 100% depreciation and my car is essentially worthless. The Cobra hobby basically sucks as an investment. You should avoid it.

[Alfa02]

A lot of first time Cobra owners buy with their Heart, and not their heads. Now with our kind of cars, that's sometimes hard to do (each is basically a one-off) and they all are "Cool Looking". You have come here, excellent first step. We were all first-time (Buyers) owners, at one time, and can help you with some of the pitfalls. Buy what makes you happy, with the idea you would never sell it (Smiles Per Miles). Patrickt said it best, our cars are worth nothing till it comes time to buy or sell it (If ever). As many here said 'These are Toys not investments'. Your homework will pay off.

[IMLost]

Once again Alfa hit it. Set what you want to pay and be patient, it’s easy to get lost in the weeds. They are not a savings account or an IRA as some think. They are a hobby, and hobbies cost money.

[HealeyRick]

Originally Posted by IMLost

Once again Alfa hit it. Set what you want to pay and be patient, it’s easy to get lost in the weeds. They are not a savings account or an IRA as some think. They are a hobby, and hobbies cost money.

To paraphrase:


They are a savings account or an IRA. (What you tell your spouse/significant other)

They are a hobby, and hobbies cost money(what you tell yourself)

[twobjshelbys]

Cobras are the epitome of a "toy car". You can probably count on the fingers of one hand those who drive it as a daily driver. It's a weekend tourer and car show car.

As a toy, I cringe every time I see here someone going into debt to purchase a Cobra or any other weekend toy. There's a difference between getting a loan and leveraging investments because (due to our current money system you can borrow for less than the return on a well managed investment) but actually going into debt is crazy.