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Superformance Resell Value
What seems to be the magic price point for Superformance replicas? The range seems to be between $40 and $70K depending on how the car is built. I would like to build a unit soon, and it looks like $50k buys a very nice car. It seems like if the car is more than $50K it may be "sell proof" - at least without loosing your shorts. I would hope that if $50k buys you a nice new or used Superformance it could be enjoyed for a period of time and sold for $40K or more.
Any suggetions? |
For what it's worth a friend of mine just bought a four year old Superformance with a 460 crate motor in what I would call OK condition. Some clean up needed but also some good quality mechanical parts were included and he paid $25K.
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I can second this deal, as I have spoken with the buyer, but have yet to see the car in person.......
Bill S. Quote:
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i have looked for the past 1 1/2 years for a so called buy on a new/like new superformance. i compared kit cars vs replicars and found out that i am the type of person that wants one complete and as close to the real thing in appearance and performance as possible, but also at the same time i tend to watch my pennies. i purchased a like new superformance with 1452 miles on it with a 460 crate engine attached to a tremec 5 speed. i paid 40k and thought i did well. i shopped e-bay, cobra country, and various other web sites plus superformace themselves. i feel if you can buy one between 38 to 42k like new or 46 to 48k new you're doing good. There is always that deal out there that you hear about, like the one discribed in this thread, but don't be afraid to spend your money on a superformance...i feel they're worth the difference from a kit car.
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Thanks
I guess things don't look so hopeless after all. Looking at House of Cobras and on eBay it seemed like $50K would be my starting point. I know I am picky, so I hope $40K to $45K will do the job.
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Check these out!
HIQ,
I just returned from Dynamic in Ross, Ohio and saw a few "used" Superformances that may be of interest to you. The two that I saw had very low mileage and were in excellent condition. The one that I examined closely was a Royal Blue with White Stripes, had a Big Block producing 535 hp, full bumpers, chrome fire extinguisher and ONLY 2600 miles. I'm very particular with vehicles and this cobra was obviously owned by an anal retentive, meticulous cobraphile. The car is better than new. When I inquired why it was for sale, Dean Rosen told me that the owner had just purchased a new SPF. This car is a beauty and for the discerning buyer that demands perfection, it would be a good buy and save a chunk of money over a new SPF. If you have ANY interest call Dean at 513-738-4000. (this is one that won't last long) The second vehicle was an older Black with Silver stripes with 3400 miles. It was also very clean and well cared for. I didn't have the opportunity to check it out thoroughly, so I can't tell you much about it. Best of Luck in finding your dream cobra. |
Dan, any idea what they were asking for either of those cars and how old they are?? Also, do you have any idea what the used BB car would cost new? Thanks!
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I can only guess!
bnewell,
I can only guess that they'd be in the mid $40k range but to be sure, contact Dean Rosen personally and tell him that you're interested. Both cobras were exceptionally nice and very well maintained. My brother and I both have SPF's and are very particular when checking out vehicles. You're more than welcome to visit either of us to see our cobras. Dave lives in Wayne Ohio which is near Bowling Green and I live in Richmond, Indiana, just over the Ohio, Indiana border. Mike Noman who can be reached at 1-606-384-7004 lives over the Ohio/Kentucky line and has a beautiful B&B/LA Exotics that he's completely rebuilt. When we last saw Mike at The DV Spring Fling, he had just installed a new 427 and completed some cosmetic upgrades that really made his cobra look nice. It was for sale at that time, but it may be gone by now. Give him a ring and he'll tell you more about B&B than you ever could imagine!;) |
At the Mecum auction in Elkhart Lake the past two years there have been a number of SPF cars on the block--as memory serves, it has been around 3-5 cars each year. These were very nuicely appointed cars with either the 351W or 428 motor. High bids on all these cars never topped $40K with the majority receiving bids around $38K. These were nice low mile cars with excellent paint. This was well before the economic slowdown and WTC.
If I were a potential buyer today, I would shop very hard in the used market, regardless of make. There are some great deals out there and you only need one distressed seller to make your day. With the proliferation of people building cars, the used market, in my opinion, is only going to get softer. Patience is truly on you side. |
An expert advise!
Cal Metal is a well noted financial expert , car enthusiast and cobra officionado. His advise is some of the best researched and experienced information available. Other than residing in "tundra" country, he's always provided good insight on the market.....listen to him, he owns an original and deals with the market daily. Besides, he's a really nice guy!:D
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The key to the resale, is the condition of the car and what unique items it may or may not have.
Superformance is clearly one of those manufacurers being sought today. It appears the older used ones, in good condition, are in the low $ 40s. New used ones with real low miles seemed to be in the high $ 40s to low $ 50s. Put some unique items on them like a big small block stroker, Supercharger etc. and they pop up even higher. I noticed House Of Cobras have 4 Superformance Cobras for sale with 418 strokers and Kinsler Fuel injection price at $ 60. Be interesting to see what they get for those cars I sold my SPF a couple months ago for just under $ 50. Was early model car, low miles with Custom color and a ton of extras including a 60s Shelby Paxton Supercharger. I sold it in 3 weeks and had about 10 calls and e-mails. I keep wondering when this will start going the other way but even with the events of world today these cars seem to continue to be hot. By the way I'm considering another new SPF. |
At the Mecum auction I also noted that the Shelby CSX 4000 cars were commanding some pretty good prices, upward of $90-$100K for cars that were very nice. I really have to wonder, though, if that market can continue to support those kinds of prices. That is pretty thin air when you get to that level for a reproduction. Dana Mecum was telling me that, as of last August, prices were starting to soften on many marques, and that $50K was beginning to be the threshold for most cars. I was surprised at the bids on many cars, one of which was a very nice '63 SW Corvette with F.I. and low miles. Normally, I would have thought it would have commanded mid to high $50s. It sold at $43K with NO reserve. That probably says something, too. Remember this was before WTC and the massive layouts were are seeing in many industries.
Lets face it guys, there are a number of Cobra manufacturers producing a lot of cars. I think the secondary market has only so much elasticity to absorb this secondary market. Just my two cents. As Asharapa correctly stated, quality of manufacturer, condition, and uniqueness will be a contributing factor in maximizing return or minimizing loss. Dan: You are too generous with your comments. You obviously haven't been one of my clients over the past year. |
House of Cobras in city of Orange
You should really check their website and call Dean. Last time I was their, they had probably 15 cars and that was two weeks ago. I'm getting my Superformance #1196 soon, and Dean's building the engine for me. Talk to him about what you want and
I'm sure he'll find you something. The cars they had on consigment this last 3 months were, superformace big block, small blocks, couple of which were stroked, had an alum. csx, NAF, johnex, west coast, contemporary, and an era. They were asking 38k for the era earlier model and need little love and care. Tell Dean Joe Magtesian sent you. Good luck brother. |
I'm glad our investments are in land!
Cal,
Our accountant had us invest in Putnam via Raymond James over the last few years. When we invested the minimal required, we received "the talk", this was before the WTC and cuurent conditions. Fortunately we decided on purchasing adjacent properties and land, which have appreciated significantly over the past few years. I don't know that ANYTHING is a safe investment now, especially cobras, but the fun return factor is immediate and readily accessible. Bob Evans told me about your new acquisition and the promise to your wife, so watch out for those clandestine hand shake deals. The women are always watching!!;) |
Dan:
I lived up to my end of the bargain--sort of. Sold two cars and bought one. Am in the process of selling the third. I got a little leeway on my agreement with the third car. Still a work-in-process but I will get it done. No kidding about the fun factor with Cobras or other marques. You can only look at your stock certificates so long and they aren't nearly as much fun on a hazy, 60 degree day with a cool breeze blowing...... |
Pictures?
Cal,
When will you be posting some pictures of your newest acquistion? I'm not familiar with an Echidna, how about some info? Have you sold your infamous Corvette? |
Dan:
No.....the infamous "Pizza Man" stays, but the Unique 289 and the MB Gullwing just moved down the road. Sold both of them last week. Will post some pics of the Anteater when it arrives. Trying to pare down the cars to a manageable level. Snakeeyes probably holds the record for largest collection west of the Mississippi. I am just a small fry compared to him and those Ferraris. |
Jeez, will you listen to this guy. Anybody can collect yellow diamonds, but they don't stack up to the crown jewels. Our pal Cal is quietly assembling an outstanding collection of significant racing cars--Bob Johnson's 289 Cobra, the World's Fastest Six-Cylinder Corvette, and one of three of the most successful home-built, Devin-bodied specials to come out of the Buddy Holly era--
Any one of these cars would be enough for us mere mortals. If anybody out there has their eye on a significant, historic racer, better snatch it up now, before "Rob Walton jr." puts it in his garage--:D Bob |
I agree with Cal's comments and gsharapas. I myself bought a used SPF with a 427 and 1200 miles for the upper mid 40s back in July. Closeness to originality was important to me (ultimately the engine detailing is what I reference). It was a fair deal (by no means do I consider it a "bargain"), and the service backing behind it was of great value to me so I paid what I paid and do not regret it one minute. I also had to have it.
I do think the secondary market is going to suffer a bit with the economy. Let's face it, these toys are usually purchased last in the hierarchy of "needs", and often the first to go when times get tough for some people, just like boats, campers, etc. I agree with Cal, all it takes is tripping over a distressed one, and you are home free. I also think it will be interesting to see if this affects the primary new kit/car Cobra manufacturers and puts some price pressure on them if this blip holds. Ultimately, short of financial distress, it will depend on how ingrained into one's lifestyle it is and many will ride out this economic hiccup or storm (I'm seeing signs of a storm). The nice part of the market is that a fair number of these cars are probably cash purchases, so people aren't choking on monthly payments. |
I am heading to SPF in Ross, Ohio next week to check things out,
can anyone tell me if their base price of approx. $36K is negotiable or is that a firm price. If it is negotiable, how much have recent buyers paid. I understand there are many options, but I am just trying to get an idea of what if any deals may be out there. This questions also applies to the engines purchased from Competition Motorsports also in Ross, Ohio. I'm not trying to be a "cheap skate" (well maybe a little) but just looking for the best deal if there is such a thing with SPF. I have read the above remarks, and understand that a vast majority of these cars/toys are purchased with expendable cash, although I would have to believe that with the current economic conditions and the 11 Sept. tragedy that alot of potential buyers are waiting to see how everything washes out. On the other hand, with the current interest rates, I could be totally wrong!! Thanks for any help. Brian N. |
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