cars auction lambrecht collection

[Tilar]

You are assuming there are trade-ins on every sale, which there is not. I doubt 30% of new car sales have a trade in. I'll also bet that the profit margin is a lot more than you think. Warranty work is also a really big generator of money for a car dealership. Plus not many car dealerships can afford to just buy the cars from the factory like he did. Most have them on a "consignment" type basis. Trust me, the man did not go hungry.

OK, I cleaned up the trash in this thread.  I won't let the argumentative actions of some (MaximRecoil) spoil an otherwise civil & interesting topic.

Carry on.

Geno

P.S.  MaximRecoil: Spare me the defensive PM or post.  Feel free to find another forum.

Great!    Thanks Gene!  Can you set it so his monitor will self destruct when he logs on? 

[69hemidaytona]

 Well that is for certain. He and his wife must have lived right to be 95 and 92 years old and still be alive. I would love to hear his thoughts on the prices this stuff brought. Did you see the photo of the wife in a new 1953 Corvette? Imagine what that car would bring with no miles.

OK, I cleaned up the trash in this thread.  I won't let the argumentative actions of some (MaximRecoil) spoil an otherwise civil & interesting topic

Carry on.

Geno

P.S.  MaximRecoil: Spare me the defensive PM or post.  Feel free to find another forum.

Great!    Thanks Gene!  Can you set it so his monitor will self destruct when he logs on?  
[/quote]

[GOTWING]

http://cgi.ebay.com/ebaymotors/Chevrolet-Bel-Air-150-210-2-Door-Sedan-1959-Chevrolet-Bel-Air-2-Door-Sedan-Lambrecht-Chevrolet-/251351266354?pt=US_Cars_Trucks&hash=item3a85b3f432

[GOTWING]

http://www.ebay.com/itm/1969-Chevrolet-Kingswood-Estate-wagon-350-300HP-turbo-350-Lambrecht-auction-/200972584025?hash=item2ecae64459&item=200972584025&pt=Salvage_Parts_Cars&vxp=mtr

[JB400]

That didn't take long

[6spd68]

 

I was going to restore it but the frame is too week from sitting on the ground.

[Aero426]

"I was going to restore it but the frame is too week from sitting on the ground".

No kidding.  

Sold originally for $900.   Be interesting to see if it exceeds that now that the beer goggles are off.
https://www.proxibid.com/asp/LotDetail.asp?ahid=1530&aid=68562&lid=17534772&title=1969-Chevrolet-Estate-4dr-Wagon#

[myk]

How does a frame get "week" from sitting on the ground?  

Looks like he just got swept up in the Lambrecht Mania and when that was over he was left with the reality of the situation...

[6spd68]

Looks like he just got swept up in the Lambrecht Mania and when that was over he was left with the reality of the situation...

Lambs to the slaughter, I effen love it... 

[69hemidaytona]

http://www.ebay.com/itm/1969-Chevrolet-Kingswood-Estate-wagon-350-300HP-turbo-350-Lambrecht-auction-/200972584025?hash=item2ecae64459&item=200972584025&pt=Salvage_Parts_Cars&vxp=mtr

Ok so he took in a two year old car on trade toward a new car. He couldn't have possibly made money on that transaction. That car still had a lot of value. It was a top of the line station wagon with pretty low miles. Then he parks it to rot away. I still don't get how that is a viable business plan.

[Tilar]

Ok so he took in a two year old car on trade toward a new car. He couldn't have possibly made money on that transaction. That car still had a lot of value. It was a top of the line station wagon with pretty low miles. Then he parks it to rot away. I still don't get how that is a viable business plan.

A 2 year old car on trade in probably brought 50% of it's original value. I'm betting he sold the trade-ins to himself or his wife at a seriously discounted rate and took the sale as a loss for tax reasons. He wouldn't have to transfer paper work for that to happen either. It happens every day. Plus the new cars that didn't sell would depreciate out over a 5 year period, another tax deduction plus taking it out of inventory after the 5 years means no inventory taxes paid. The man made money.

[69hemidaytona]

It doesn't matter if you get a deduction, you can't make a profit by losing money. There is no way that he had a 50% profit margin on the sale of the new car. So lets just say that the new car cost $5000.00 and the trade in was worth $2500.00. That means the customer gave the dealer his two year old car and $2500.00. The dealers cost for that car was at least $4000.00. If the dealer does nothing with the trade in he loses $1500.00 on the transaction. Now lets say he is in the 30% tax bracket. That means that he would save $450.00 on his income tax bill that year. He comes out losing $1050.00 on that transaction AFTER taxes. How many of those loses can a dealer withstand? I guess it depends on how much he makes on sales when there is no trade in, and on parts and service. Either way why would you put a car in the weeds only to make less money?

[Cooter]

First max and now hemidaytona....

[69hemidaytona]

I don't think that is a fair comparison. I am being civil and respectful and will continue to be even if we disagree. I tried to explain my reasoning as it still doesn't make sense to me.   

[stripedelete]

I don't think that is a fair comparison. I am being civil and respectful and will continue to be even if we disagree. I tried to explain my reasoning as it still doesn't make sense to me.   

Don't worry your right on both cases.   No comparison and it doesn't make sense.  Nobody tosses capital out in a field.   There is no sane business case.


Dealers buy all new cars, now and then.  They weren't free or consignment.

Dealers all pay the same for new cars.  Different pricing would violate the franchise agreement and that's a big deal.

If the dealer floor planned(financed) his vehicles he wasn't paying more than a point less than any other dealer.

The car was not a recent invention during his time.   He would have know in the 50's that a field full of rotting model t's was not a smart strategy.

Tax strategy.  Maybe he hid them at tax time to avoid personal property tax, if applicable.  But why not sell them later?

Was it personal?  Was it an "FU"?   To avoid alimony?   To steal from a partner?  But why not sell them later?

Hobbiest?
            ---- why save turds?
            ---- Dealers will save Mrs. Nuesboughm's cream- puff,  20k mile, 30 year old trade-in, regardless of model,                                     for showroom decoration.   But no more than few and usually not for long.

The $ 2 million gross from this auction was marketing genius that could only have happened with the aid of the Internet and cable T.V.   Otherwise, the cars would have ended up in a 2 x 2 cube.   I doubt he had a crystal ball.

Every near plausible scenario ends with "why didn't he sell them later?   In the end, the best I can say is he was an eccentric, because he had money.  If he was poor he would be nuts or another hoarder(nuts).

Sorry for the ramble. 

[Aero426]

 
The $ 2 million gross from this auction was marketing genius that could only have happened with the aid of the Internet and cable T.V.   Otherwise, the cars would have ended up in a 2 x 2 cube.   I doubt he had a crystal ball.

Every near plausible scenario ends with "why didn't he sell them later?   In the end, the best I can say is he was an eccentric, because he had money.  If he was poor he would be nuts or another hoarder(nuts).

This.   

[GOTWING]

i can't imagine a dealer today take in trade a 2011 R/T dodge charger with 40k miles and junk it out back... 

[ws23rt]

I'm surprised that the question about whether or not  he made money is still going on.

From the start this is an interesting story about a small town business man and how life played out for him.

I suppose we all have in our minds how we would have played the cards if they were dealt to us. But we are missing much information about this man and his life situation.

Those of us that have been around the sun a few more times than others can look back with more regrets than those with fewer trips.

I think one common denominator we have is life comes up with the unexpected or unanticipated and a decision is made at that time for the reasons at hand.  

Another part of our stories is that we procrastinate---I may try to get to the bottom of this in a later post. 

[Cooter]

What if he did sell all those turd cars back in the day for lets say op dollar for the day.
Ok, you all know how 'investing' works. You win some, you lose some.
I doubt seriously that ANY money he made back in the day would bring him $2million like it did 'hoarding' those cars like did....

He got all his 'investment' profit in one lump. He didn't lose/risk.anything. the cars made money.
Any money from sale years ago would have been spent just living life.

Arguing this is nothing more than my house is bigger than yours. Depends on how you look at it.

[GOTWING]

no matter how you look at it he has 2 million dollars in his pocket and we don't 

[Aero426]

no matter how you look at it he has 2 million dollars in his pocket and we don't 

A while ago, I got to thinking that the owner (at his advanced age) was never shown or interviewed.   So we really don't know what kind of shape he is in.    If he is in assisted living or nursing home, that can chew up the proceeds of an estate pretty quick.   The point is, that we don't know the whole back story. 

[6spd68]

Whether he made money or not, let's put that aside.  I think the real fun now is watching E-bay and craigslist for these heaps of rust, and the fools with shattered dreams of profits.  This way we can truly enjoy it.   

So let us all do our part, let's find and post'em for each others ammusement.  Who knows?  We may even find ones that have been restored to mint?  That could be it's own fun thing... 

I think I share the feelings of many in that I no longer give 2 sh!ts whether this guy made or lost money anymore...

[GOTWING]

http://cgi.ebay.com/ebaymotors/Chevrolet-Bel-Air-150-210-210-LAMBRECHT-CHEVROLET-ORIGINAL-1957-CHEVROLET-210-SEDAN-POWER-PACK-/151140303839?pt=US_Cars_Trucks&hash=item2330aa03df&vxp=mtr#v4-41



                                     

[Aero426]

http://www.ebay.com/itm/1969-Chevrolet-Kingswood-Estate-wagon-350-300HP-turbo-350-Lambrecht-auction-/200972584025?hash=item2ecae64459&item=200972584025&pt=Salvage_Parts_Cars&vxp=mtr

Auction on the 69 wagon ended by seller.

[6spd68]

http://cgi.ebay.com/ebaymotors/Chevrolet-Bel-Air-150-210-210-LAMBRECHT-CHEVROLET-ORIGINAL-1957-CHEVROLET-210-SEDAN-POWER-PACK-/151140303839?pt=US_Cars_Trucks&hash=item2330aa03df&vxp=mtr#v4-41



                                     

https://vanderbrinkauction.proxibid.com/asp/LotDetail.asp?ahid=1530&aid=68561&lid=17400710&title=1957-Chevrolet-210-4dr-Sedan

Sold for 7k, let's see where it ends up