New member with "barn find" question

[tommcb99]

Hi all,

Just wanted to close the loop on my post here, as I'm sure everyone thinks it's total B.S.

Well, I talked to my cousin (the executor of the estate that the Cobra now belongs to) and she's been contacted by RM Auctions, which as I understand it is a high-end collector's car auction house. She gave them the details, including serial number and it seems they went nuts. They traced it and found there was a 17 year period of time where there was no recording of it, which is about the amount of time it sat in the garage.

Anyway, it's going to go up at their August auction in Monterey, California. She was told that Carroll Shelby might be there, health permitting.

Based on previous people's post here (by the way, thank you), I told her she needs to insure it for at least $500K. Not sure what she'll do but she said she'd check with the auction house.

In the meantime, she said that RM auctions told her to not release any information about the car, to keep it as a true barn find. I'm not sure this is good advice, but she's doing what they tell her now. They said this will increase the value, which is what a couple of posters here have said, but I have my doubts...but what do I know!

I know, I know...no serial number means just another poster with a fabricated story. All I can tell you is to check out the auction in August. I'm sure this will be the only barn find 289 Cobra in the auction.

Thanks for all the comments and advice. I guess it's now up to the auction house.

Tom

[mrmustang]

Originally Posted by tommcb99

Hi all,

Just wanted to close the loop on my post here, as I'm sure everyone thinks it's total B.S.

Well, I talked to my cousin (the executor of the estate that the Cobra now belongs to) and she's been contacted by RM Auctions, which as I understand it is a high-end collector's car auction house. She gave them the details, including serial number and it seems they went nuts. They traced it and found there was a 17 year period of time where there was no recording of it, which is about the amount of time it sat in the garage.

Anyway, it's going to go up at their August auction in Monterey, California. She was told that Carroll Shelby might be there, health permitting.

Based on previous people's post here (by the way, thank you), I told her she needs to insure it for at least $500K. Not sure what she'll do but she said she'd check with the auction house.

In the meantime, she said that RM auctions told her to not release any information about the car, to keep it as a true barn find. I'm not sure this is good advice, but she's doing what they tell her now. They said this will increase the value, which is what a couple of posters here have said, but I have my doubts...but what do I know!

I know, I know...no serial number means just another poster with a fabricated story. All I can tell you is to check out the auction in August. I'm sure this will be the only barn find 289 Cobra in the auction.

Thanks for all the comments and advice. I guess it's now up to the auction house.

Tom

Tom,

Something sounds foul here, I highly suggest you PM Ron or myself with the CSX number as RM would never, and I do mean NEVER give out such advice. Your relative might be in the middle of a potential scam to defraud.


Bill S.

[lovehamr]

Originally Posted by tommcb99

In the meantime, she said that RM auctions told her to not release any information about the car, to keep it as a true barn find. I'm not sure this is good advice, but she's doing what they tell her now. They said this will increase the value, which is what a couple of posters here have said, but I have my doubts...but what do I know!

Tom, though I'd draw well short of calling your family's car BS, that statement about RM makes absolutely no sense. Just think about it a sec because advertising the CSX # is the FIRST thing that RM would do to get the hype going for their auction. The more widely that information is disseminated the more their auction is hyped. Look at any auctioneer’s advertisement when it comes to Shelbys. The CSX # is THE way to start proving the voracity of the car and that voracity is what will drive the price. Anything else is perceived as a smoke screen hiding something. The car would still sell nicely but would not have the feeding frenzy going for it had its provenance been more widely known.

Just my 3 cents man, Steve

[D111]

Hey Tom

I just go off the phone with Carroll Shelby he's not interested in Your imaginary Inheritance but he would like to know if you would Consider selling your heart. A better story might be that there is pigeon poop on all of the CSX locations and that The fear of removing it may lower its value

[*13*]

Still calling the bluff!!! Show us the facts...

[ROBERT GWALTNEY]

Once they wash all the pigeon poop off of it they will discover its a MG

[eschaider]

Originally Posted by lovehamr

Tom, though I'd draw well short of calling your family's car BS, that statement about RM makes absolutely no sense. Just think about it a sec because advertising the CSX # is the FIRST thing that RM would do to get the hype going for their auction. The more widely that information is disseminated the more their auction is hyped. Look at any auctioneer’s advertisement when it comes to Shelbys. The CSX # is THE way to start proving the voracity of the car and that voracity is what will drive the price. Anything else is perceived as a smoke screen hiding something. The car would still sell nicely but would not have the feeding frenzy going for it had its provenance been more widely known.

Just my 3 cents man, Steve

Tom,

Adding to the point Steve is making, RM actually publishes an auction book that has marvelous full color pictures and stories of all the auction cars well in advance of the auction. The distribution is to past, present, and potential future buyers not to mention just plain interested guys like most of us.

This whole secrecy stuff. The idea of the auction house ferreting out your cousin and her contact info. The representation that they contacted her to ask her to put it up for bid at their auction house along with the keep it dirty for more money story is simply not the way thing are done.

There are a few logical possibilities to explain this:

1. Your cousin is being scammed - not good
2. Your cousin is scamming you - not good but not as bad
3. You are scamming us - not as bad as 1 or 2 but the wrong way to start out here.

If it is #1 or #2 above there are many very good and knowledgeable guys on this site for many years that can steer you and your cousin in the right direction. You should give considerable thought to engaging them before it's too late. Should you wait long enough, it becomes a woulda, shoulda, coulda type of deal that you will feel real bad about.

A real good starting point is the CSX # - and a lot sooner rather than later.

Ed

[computerworks]

Originally Posted by tommcb99

Hi All,
My aunt recently died and we're trying to put a value on the assets in her estate. And guess what: one of them the 1965 Shelby AC Cobra that she purchased new back in 1965. It's got the 289 engine and everything is original, with 35,000 original miles on it.

It's been sitting in her garage covered up for about the past 15 years or so, so it's pretty dusty. But it's a genuine Shelby, looks like no body damage, and we're now wondering what it's worth and the best way to sell it.

My cousin is the executor of the estate and contacted someone (not sure who or what organization) and they got pretty excited. They specifically said don't do anything to it, not even wash it, as it's a "barn find" and collectors want it as is. They want to put it up for auction in August.
.

Originally Posted by tommcb99

Hi all,

Just wanted to close the loop on my post here, as I'm sure everyone thinks it's total B.S.

Well, I talked to my cousin (the executor of the estate that the Cobra now belongs to) and she's been contacted by RM Auctions, which as I understand it is a high-end collector's car auction house. She gave them the details, including serial number and it seems they went nuts. They traced it and found there was a 17 year period of time where there was no recording of it, which is about the amount of time it sat in the garage.

Anyway, it's going to go up at their August auction in Monterey, California. She was told that Carroll Shelby might be there, health permitting.

Based on previous people's post here (by the way, thank you), I told her she needs to insure it for at least $500K. Not sure what she'll do but she said she'd check with the auction house.

In the meantime, she said that RM auctions told her to not release any information about the car, to keep it as a true barn find. I'm not sure this is good advice, but she's doing what they tell her now. They said this will increase the value, which is what a couple of posters here have said, but I have my doubts...but what do I know!

I know, I know...no serial number means just another poster with a fabricated story. All I can tell you is to check out the auction in August. I'm sure this will be the only barn find 289 Cobra in the auction.

Thanks for all the comments and advice. I guess it's now up to the auction house.

Tom

Tom...I will call BS or else you are misinformed or, perhaps too informed.

She was original purchaser, eh? Yet RM found a span in time when "there was no recording of it"...what's to record? Original owner took car off road?

They contacted her...she contacted them...?

Auction houses like to self promote their offerings... I'm smelling some self-promoting barn-dust here.

No need to defend... just PM me when you are ready to discuss facts in order to get the expertise of this community.

[kayakjack]

Why do I get a mental image of that McDonald's worker in Maryland who claimed she won the lottery when I read this stuff?

Jack

[elmariachi]

Originally Posted by tommcb99

I know, I know...no serial number means just another poster with a fabricated story. All I can tell you is to check out the auction in August. I'm sure this will be the only barn find 289 Cobra in the auction.

Thanks for all the comments and advice. I guess it's now up to the auction house.

Tom

Yep, its all up to the auction house. :roll eyes: So she is going to have RM sell the car (which benefits them above all) and miss out on all the private would-be buyers who WON'T buy a car at RM auctions for various reasons (many of which are widely known) but WOULD want a chance at buying that car, possibly for MORE than it would bring at auction. Private transactions on collectible cars always favor the seller.

You came here looking for advice, and now you are going to throw your hands up and not give her the most sound advice, which is to NOT rush that car to auction without first publicizing it broadly in the global Cobra community?