How serious should we take the prices on Barret-Jackson

[69_500]

I'll put it to you like this. Last year at Carlisle there was a 1970 V code Road Runner, 4 speed car, R4 red exterior, black interior. Needed a complete restoration. Asking price was $27K to begin with, wound up selling on Saturday for $23K. If that gives you any kind of a ball park figure to go for. I have some video of the car if your wondering what kind of shape it was in. It did start up and run, but ran rough. Not numbers matching, but did have 2 buildsheets.

[Dodge-Charger]

Actually the guys like Leno and Allen are pretty savvy and won't usually waste money to prove they have a bigger collection.  They know there are a lot of good cars to be had.  The fools tend to be folks who have recently become cash flush for whatever reason and are letting their egos make the decision.

I just used thier names as an Exp. Have you ever seen the cars those guys have ? They are more on the limited number cars than anything else. You know the guy that dropped 2,000,000 on the Cuda was one of those types.

[DodgeChargerNeeded]

If you are worried about getting beat out of all the profit just jack the price up where you are comfortable and if the next guy makes a big hit with the same car more power to him as long as you got the price you wanted. You can't predict the market.

[253862656971]

Here's my take.

When the hemi clones rolling across the block start to bring more money than a true hemi car I find it incredibly difficult to take the auction prices seriously.

I think that these auction do affect price somewhat but I don't think these huge bounds in mopar values is due entirley because of the auctions.  I think the mopar prices are a bubble.  The prices are escalating rapidly but I think this bubble is on the verge of popping.  Now I'm not saying that the mopar prices are going to crash but I think we'll see them level off for a while and maybe go down a little. 

[Big Lebowski]

The yellow 1970 Six-pack Charger went for 66.9k Wow.

[hotrod98]

That auction affects people and prices more than you would think.  This week alone, I've had three guys call me wanting to buy one of my cars and one guy wanting me to build him a hemi clone from one of my unrestored cars.  As for selling my cars, I said no. As for building the hemi car, he's sending me a check now.  

[chargervert]

I have to say that the Hemi GTX clone,that sold for more than the real Hemi Belvedere,kinda baffled me! Judging by the prices there,that Belvedere was the best buy of the whole auction! All of the other original Hemi cars pulled in the big bucks though! Even the clones!

[hemihead]

I think the way you take BJ depends on whether you are buying or selling.I personally think that the market is topping out soon.Baby boomers are getting old remember.

[chargervert]

I had a guy call me the other day,out of the blue,and ask me if I still wanted to sell my 71 Challenger convertible! I think he was watching the auction,and saw the prices! This guy flips a lot of cars,so I figure he wanted to cash in on the hype! I told him I had changed my mind about selling any of the convertibles!

[Ghoste]

I agree Hemihead.  Some of these guys will be dying off soon or won't be able to drive and then we'll see how rare some of these cars are.  Hemi Cuda convertibles might be as common as supercharged Duesenburgs but how many people will pay some boomer's heir 100k for a clone?

[253862656971]

I watched last night and I saw something that really pissed me off and baffled me.

Up comes this nice black 70 hemi cuda that was a REBODY!  The damn thing sells for 400K+!  That was outrageous in my opinion.  Then shortly thereafter was Bobby Allison's 69 Daytona that he used in Nascar.  It was the real thing authenticated by Bobby himself.  The damn thing sells for 300K!!!  WTF?!  If I had the money I would have owned that car and I probably would have went to at least 500K if need be.  I just don't understand these idiots. 

[hotrod98]

The thing about auctions is it takes at least two people to want the same car. If only one of the guys has unlimited funds, then the car can only go as high as the available fund of the other bidder. If you have two guys with unlimited funds and enlarged egos, then you get 4.2 million dollars for a totally useless bus. Funny how that works. Either of those guys could have bought the other bus being restored in Michigan for 1/4 of that price or less, but then their faces wouldn't have been plastered all over the world on Speed TV.

[Ghoste]

If they're new, all it takes is one.  You'd be amazed at how many of those guys bid against the house because they don't pay attention to the ringmen and their hand signals.
Sometimes it takes zero.  If the house wants a record price set for the publicity, no one need buy it all.  Rarely do the auction houses publish who actually purchase these cars.

[253862656971]

Oh yeah what was the deal with that bus?  Steve Jackson got up there after the Bobby Allison daytona and said something about how they sold the bus when another bidder thought he was in but it's all resolved now.  I didn't understand that.  I also saw a lot of backing up because the auctioneer took someone's bid who wasn't bidding.  Now I know this happens on occasion but I saw it happen far too much in the little bit of BJ I watched.  The last time I saw something like that was when I was at a Kruse auction.  I could see those guys pulling bids from thin air! 

[Ghoste]

Sometimes the auctioneer will drop the hammer without realizing that a bidder is still on a car.  The bidding from thin air doesn't just happen on occasion, it happens a LOT!  On nearly every car unless the crowd is really crazy for it.  If the ringmen are experienced, you have to watch for a while before you find out what their hand signals are for real money and soft bids.