New member with "barn find" question

[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?

[LMH]

Sounds like a true one to me. RM wouldn't be as interested in it if it wasn't and that's a great way to sell it. If you get a lot number for the car, let us know so we can follow it.
Larry

[eschaider]

Did I miss how RM found her and her contact information?

Normally the first contact between a car owner and an auction house is initiated by the car owner. If I understand you correctly, the auction house sought out your cousin?

Ed

[eschaider]

^ Very good advice ...

[Ralphy]

How does keeping a true barn find as secretive as possible increase it's value? Seems to me, it would limit potential buyers. Oh well.

Ralphy

[Ralphy]

Human nature being what it is. And also being a one time seller at any auction house? I would be looking for someone in my corner. What I mean is there are people at these auctions that spend big bucks over and over. Companies and people take better care of repeat customers I'm sure. If your story is true, be careful not to be one that gets, "run through the mill."

See Yah Later!

Ralphy

[PSB]

I found a picture of the car!

[Varmit]

Originally Posted by PSB

I found a picture of the car!

Is that an MG Midget??

[twobjshelbys]

Remember we're hearing the exector's reports through the ears of another. What if "she's been contacted by RM Auctions" were replaced wit "been in contact with RM Auctions" ???

I think you may be underestimating the knowledge of the executor. I guess we'll see what happens in August The catalog should start to appear soon.

[James Stern]

Sure looks like one.

[jhv48]

It says midget on the kick panel so I vote yes!

[Silversmith]

ROFLOL HE! HE! HE! Say it ain't so Well it made 4 pages! Who knows the truth may yet will out!

[Ralphy]

Is she the executor and only survivor to the will? Or was she assigned the car with other survivors? Being the executor does not make you the owner. On another note, if you are just a story teller, hoping to drum up some excitement here. Your wasting your time, right now your the game, not the car.

[computerworks]

With no reply from the OP, this is a dead end.

Tommy can PM me if he needs to add info, otherwise...