TAC Central => Lobby => Topic started by: roadking77 on January 29, 2022, 10:59:29 AM
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Im surprised the big car auction has been brought up. Is it me being completely out of touch, or has the world of collector cars finally passed on to the country club crowd? It seems the minimum buy in at this current auction is $100k!!
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I think they save the better cars for the weekend...at least that's what it seemed to me.
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What makes for good TV. We all know these cars go for what they do is because of Deep pockets. My trans am is priceless, there is nothing better than cruising with my 8 year old grandson telling me how to drive. This is his car!
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I haven't been keeping up but again it's football season.
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I'm prideful in the fact that even before I owned my 1979, I was always resentful over how expensive these cars are getting; and I still am even now that I can reap the benefits of ownership. I'm with 79Goldntan, my '79 isn't ever getting sold as far as I'm concerned, so its value is ultimately irrelevant.
The only good that comes out of rising values for a mass-produced car is that the aftermarket starts reproducing more parts to support restoration. Although not quite "build new out of a catalog" level like first-gen Camaros, 2nd gen Firebirds have a ton of aftermarket support and a big part of that is because of how popular they are.
Still, I hate seeing these cars lined up next to a bunch of Bentleys and driven up on manicured lawns of multi-millionaires' homes. These used to be a sanctuary for normal middle class folks where conversations about them actually revolved around turning wrenches and working on them and not about speculating prices and values at auction, and it's sad to see them slipping out of reach. Not entirely gone, yet, though. Hopefully this is the ceiling for our cars.
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Mine will likely always be “within reach” for someone once I die lol. Not that I don’t take care of it, cause I do along with making improvements, but I also drive the crap out of it. So it gets dirty, dusty, bug guts, stone chips. It’ll never be a $100k car. Heck, not half that either. And I’m ok with it. I do get sick of seeing basket cases for sale for $15k though. (Exaggeration but you know what I mean)
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I have been watching Mecum and Barrett Jackson auctions for years. I usually record them and watch while I do my treadmill, its mindless entertainment and I don’t need to hear what they are saying. I always thought BJ was a little more upscale and had more expensive vehicles. Both usually start out with what I would call affordable cars and migrate to the outlandish category. Mecum usually has more affordable cars, in the $10,000 to $20,000 category. I watched some of BJ yesterday and was blown away by the prices. Almost nothing was under $100,000. Some of yesterday’s buyers might be speculators and others with more money than they know what to do with. Watching yesterday’s auction might turn off some perspective car collectors because of the prices. For years I have been watching online ads trying to gage prices. Where I used to see a majority for sale by owner, more and more are being sold by dealers and many by auction only. If a dealer or auctioneer is involved expect to pay more, everyone wants their cut.
For anyone considering purchase of a classic / muscle car, take your time and do your research. Never buy a car without looking at it in person. If you have knowledgeable friends, bring them with. Don’t get discouraged if you don’t find it right away. It took me over two years when looking for my last TA. During that time I found out what was out there and how much I would have to pay. Like most people I had to compromise between the car I wanted and what I could afford. In the end I was glad I took my time.
For those with a stagnant project sitting untouched for years. Watching these auctions should give you inspiration to get back to it. The crazy prices will hopefully keep you from selling your car and buying another at a later date. The prices will only go up.
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I spent the last week on and off watching on tv and the net the BJ auction at Scottsdale. In a nutshell it was like watching a train wreck. The prices were stupid, first part very little under 100k. On the big day Saturday it seemed like 200k was the minimum. There was a 69sh chevy truck that sold for something like 200K! Unless its plated with gold theres nothing anyone can do to a chevy truck to justify that kind of money. Most of the stuff shown yesterday was from the ridiculous to the absurd. Dual axle jeeps, custom caddies, anything shelby, custom vettes. I had very little interest in most and even if I did have the money didnt see anything I would bid on. They sold a couple of GNX's for over 200k! They would show the winning bidder smiling and high fiving all those around, usually with drinks in their hands. I would be embarrassed to have people know I spent twice what a car was worth. The cars going on the block was another story in itself. It became a who's who event. Every one was filled with passengers, once they got stopped security would open the doors, ala valet parking, the occupants would get out and a driver would get in. I have never seen such silliness at an auction. This event was a cross between a fashion show, circus, carnival, rock concert, car show and auction. Kudos to Barret Jackson for getting people to spend ridiculously. I always thought that BJ had set the auction standard, but this was just plain stupid! At least Mecum still resembles an auction.