Prices were about where they should be ala 2004. :TU: No more outrageous BOSS 429's taking in 600K, its back to 190K for them. I saw a numbers matching 1970 Plum Crazy Hemi Cuda, a #2 quality car go for 140K. That would have brought stupid money just over a year ago. :bla: Most cars were down compared to where they have been in the last 2 years. Even the consistent 55-57 beautiful Chevys that always bring 100K + were in the 70K range, same for some of the early Corvettes. :ball: Other consistent money makers, early Caddys and Ford T-birds, were also off in value, and actually were bargains! Although I am not a T-Bird guy, there were some incredible cars going for cheap!! :eek2: Camaros and Chevelle values were about right, thats good to see. Ford Shelbys generally down a bit but not too bad, also encouraging. The cars that actually increased in value somewhat were the Pontiacs! There is no stealing a 73/74 Super Duty Trans AM any more for 30K, all were in the 60's - 80K range. The GTO;s all brought good money, it figures the Pontiacs increase in value when there is a weak market ou: There were very few Buicks to choose from, with the exception of some 50's vehicles. So I really can't say whether they went up or down in value. Bought a few things this time around again, those who know me, might have seen me in the front row wearing black, bidding on cars like a fool ray: Among the cars I purchased was a absolutely perfect frame-off 71 Yellow Cuda.:TU: One of the best prepared cars I have seen go across the block in years, and of course like an idiot I decided I had to have it.ou: Some of the cars that I have raced at the events in NY, will see the auction block probably in Scottsdale in January, if I can get them up to a top notch selling condition in time. If not then probably the Palm Beach Barrett Jackson in March. Barrett Jackson in Vegas will become an annual event, although this one definitely had its share of major hiccups, hopefully they can be fixed. I bought another one of Trans AM' Glen's posters for charity as well, and some cool automobilia. Trans Am Glen works his tail off, and has really kick-started the Charity idea for Barrett Jackson. They look good on TV promoting various Charitable organizations, and hopefully Glen will continue to be a part of that contribution. Was a good show overall, took a red-eye, so I am blitzed, pics to follow in the next few days. Thanks Guys.
Where all the cars actually changing hands, or were the owners buying them back because it is a no reserve auction and the bids did not get high enough for them? I suspect there were tons of owners buying them back. I don't believe all the hype.
That's probably because of the massive amount of fraud involved in the other makes, most notably the Oldsmobiles and Chevys. I think investors feel more comfortable with cars that are documented through PHS. While PHS documentation doesn't stop the selling of rebodied, or the pieced together Frankensteins, at least buyers can be assured they are buying a real GTO or Trans Am based on the factory invoice. I think since we've seen so many phony W-30 Oldsmobiles and questionable Chevelles/Camaros/Yenkos bring big $$$ in recent years, we're starting to see a thinning of the herd, in that only fully documented cars, with rock solid histories, are going to bring to sell at high levels. The cars that have been rebuilt from a pile of ashes are not going to bring as much anymore because there's more of a chance that the restorer could have...ummmm...."finessed" all the numbers on the chassis, core support, etc. to get them to match.
I didn't see any owners buying their cars back, most were actual sales to new owners. I talked to alot of the owners on the high-end cars, most were just selling. There certainly has been some questionable sales of BBC's in recent years claiming to be originals, I'll give you that. Most cars at the auction were represented accurately enough. Pontiacs traditionally have not brought as much money as Chevy's although thats apparently changed. I first noticed that in the Palm Beach Auction earlier in the year. It just appears to be their time to shine a bit. Every make has its so-called guy/organization who can verify the legality of a particular car. Pontiac certainly with PHS official documents is the best and most accurate source. Most cars claiming to be original had some sort of paperwork by the resident make guru. However when you buy a car at Barrett Jackson they are very clear that, you should regard the car you are buying as not a numbers matching original vehicle no matter what paperwork comes with it. It is in fact written on the bottom of every auction screen as the car rolls across the block. This is to cover BJ's A** of course, but theres no excuse for any of the buyers to complain they didn't know Then again there are many people who just like a certain car, and if they have money and they want it.............well then they are going to buy it no matter what. Now if you get 2 or 3 guys who want the same car no matter what.......then you see artificial high prices and the auction is off to the races. Its a funny thing, there are people who are there to flex their $$$ muscles, and they buy $500-800K worth of cars each auction. I know alot of these guys, and when they are bidding, you are wasting your time trying bid against them because all you are doing is driving the price up. Some people have recognized this, and the high rollers wind up getting good deals because of it, and other times the unknowing people have just made a 50K automobile ....worth 90K .....by bidding against them!! All this being said, there were certainly deals there this auction, no matter who you are. .
