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#505324 - 04/26/08 08:01 PM
1950 Super 56-S at Pate Swap meet
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Pete Phillips
Member
Registered: 09/01/03
Posts: 701
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I just got home from the annual Pate Swap Meet in Ft. Worth, Texas. As usual, the car prices were incredibly high and I saw very few changing hands. One that did sell was a reasonably priced, solid, 1962 Skylark 2-door hardtop with perfect body, so-so paint, 215 V-8, needing a paint job, carpet, and light restoration, looked like you could drive it home, $1500 and sold by the time I got there.
The car that really intrigued me, however, was a rare 1950 sedanet, Super series, model 56-S. Car had very little paint left on it, had Dynaflow, had incorrect older upholstery and wrong interior door panel upholstery (warped by moisture and attached with screws--ugh!), large rust holes in driver's floor pan, small dents and dings in the body (but none too serious), non-existent weatherstrip and windshield rubber seals (car looked like it had sat outside for many years), dented grille teeth, a crack in the upper grille bar, extremely faded taillights, good back-up light and parking light housings, a totally rusted out trunk floor (looked like water sat in the trunk for many years), and so many bare wires under the hood that I was afraid to ask the guy to start the engine. Sign said the engine ran and it looked like it would, provided nothing shorted out in the meantime. Whole car needed paint inside and out, needed chrome replating, needed upholstery, needed a wiring harness long ago, all rubber needed, trunk emblem plastics busted out, needed new tires. Odometer read 37,000 and from the wear on the pedals it was probably 137,000. Still, a rare and mostly unmolested car, and it was complete. BUT the price was $4000! I gave the guy my card and he had never heard of the BCA. Then I walked off.
Are these people crazy, or am I really out of touch? Wish I had brought my camera, but I forgot it--where have I heard that excuse before? I would have given $1500 or possibly a little more, but I figured the seller and I were so far apart, that there was no point in even starting a conversation. I see this same thing at Hershey, at the Southwest Swap Meet in Arlington in September, at swap meet after swap meet, etc. Lots of dreamers out there, and it is a shame, because a car like that will probably just be allowed to continue to deteriorate, or will be street-rodded.
Pete Phillips, BCA #7338
Sherman, Texas
Edited by Pete Phillips (04/26/08 08:06 PM)
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#505357 - 04/26/08 11:08 PM
Re: 1950 Super 56-S at Pate Swap meet
[Re: Pete Phillips]
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Thriller
Member
Registered: 09/06/03
Posts: 2204
Loc: Winnipeg, Manitoba, Canada
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Pete,
I think either they are crazy, or we are. There's a guy near here that has a '76 Century Free Spirit...rare package, but needs a complete restoration - I've seen him advertise 3 prices, starting at 5900, then 3900, now 4500. The car starts and moves, but needs everything else. He also recently picked up an '89 Reatta coupe...silver...also for $4500. I'm not sure what's going on. The '54 Special I looked at recently is at least $2k too high according to our resident '54 experts...paint is wrong and needs a windshield.
I guess I've said it about some stuff that shows up on eBay as well...I don't get it.
Well, I hope that 56S finds a good home.
_________________________
Derek Thille BCA #39416, CBC, MBCC #1984 66 Wildcat Custom Coupe - "Ellie" / 62 Special Convertible / 61 Invicta Convertible / 56 Special 4-door Sedan / 52 Roadmaster 4-door / 41 Special 41SE Sedan / 29 McLaughlin Buick Model 51 2006 Buick Rainier - "Ruby" / 2005 GMC Sierra K2500 - "Max" (the hauler) Thriller's Buick Page
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#505427 - 04/27/08 10:22 AM
Re: 1950 Super 56-S at Pate Swap meet
[Re: Thriller]
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JohnD1956
Member
Registered: 03/29/03
Posts: 2221
Loc: New York
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I think what's happening is: people are looking to sell projects due to the economic downturn. Get rid of it before you dump a ton of money in and no one has the resources to buy you out at a profit. People are used to thinking there is a profit in old cars thanks to Jackson Barrett and the crazy prices that group of attendees are willing to pay for anything that moves across the stage.
But in a down turning market, people are unsure at what price their project would sell. If it sells fast you tend to think; I should have asked more, and have regrets. But if you asked too much and it doesn't sell, you may always lower the price.
The real problem comes in when people are trying to sell something that no one wants. Anything can happen. The seller is just trolling with several types of lures hopeing anyone of them will get a strike.
A few more weeks ought to be the break in the ice. I don't know about your area but I've been out everyday this week working on our chapters next show and I can tell you the stores are busy. Phones are ringing and cash registers are buzzing. Unfortunately most retailers still claim the economy is dead when you ask for a few bucks to support a good cause.
_________________________
John C. De Fiore BCA # 3757 56 Super 56R 69 GS 400 Convertible 69 Electra Limited 2 dr.( well, no longer limited although still unique) 95 Riviera Supercharged (sold) 06 Lacrosse CXL Doing my part to stimulate the economy! Member of the UPSTATE NY CHAPTER check it out at http://unybca.skyphix.com/
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#505435 - 04/27/08 11:02 AM
Re: 1950 Super 56-S at Pate Swap meet
[Re: JohnD1956]
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Gary_N
Member
Registered: 10/19/04
Posts: 407
Loc: Maryland
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OK, not to point out the obvious, but it's the selling price that matters. And, from my perspective, I see a lot of stuff not selling of which I have lots of personal experience. Instead of watching B-J events (which I love to attend), try the MECUM action on one of the HD channels. I'm amazed at how low some of the prices are at the bang of the gavel.
Gary
_________________________
BCA #40969 '50 Special - "Yoda" '54 Roadmaster - "Frankie" '64 Electra Coupe - "Arthur" '48 De Soto S11 Coupe - "Bobo" '01 Z06 SCCA - T1 Racecar "Dragonfire" - For Sale ------------------- http://www.wrenchhappy.com
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#505488 - 04/27/08 02:11 PM
Re: 1950 Super 56-S at Pate Swap meet
[Re: Gary_N]
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JohnD1956
Member
Registered: 03/29/03
Posts: 2221
Loc: New York
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I never watch the BJ type auction events. They are crazy. The buyers represent a small portion of the hobbiest and probably investment grade hobbiest wannbes at best. I mean, if you pay a reported 125K for a 69 GS 400 convertible 4 speed, can you really expect to turn that car around for a profit anytime soon? I say no way.
And I dare say that most people on this forum understand that Barrett Jackson Auctions are not the mainstream of this hobby. However, the weekend hobbiest, sitting in the armchair, watching TV probably never heard of the MECUM auctions, and instead are valueing the car they inherited based on what is happening at the BJ's auctions. I suspect they think those BJ Prices are the mainstream and that they ought to be able to get that price for their car too, regardless of it's condition.
Yet I will agree with you about the bottom line being the price that sells. Like Pete said, his value was so far away from the asking price on this car there was no point to opening a discussion with the gentleman.
_________________________
John C. De Fiore BCA # 3757 56 Super 56R 69 GS 400 Convertible 69 Electra Limited 2 dr.( well, no longer limited although still unique) 95 Riviera Supercharged (sold) 06 Lacrosse CXL Doing my part to stimulate the economy! Member of the UPSTATE NY CHAPTER check it out at http://unybca.skyphix.com/
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#505696 - 04/28/08 09:00 AM
Re: 1950 Super 56-S at Pate Swap meet
[Re: JohnD1956]
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TexRiv_63
Member
Registered: 02/15/07
Posts: 129
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Pete,
I was there on Saturday and I think I saw the car you refer to. There were a lot of interesting cars but the few that I saw with "reasonable" prices were already sold. I went looking for prewar stuff but my overall impression was that this has become a 60s/70s/Musclecar meet. There was a 29 Packard sedan on a trailer, painted yellow with "Jaycees" on the doors. Looked complete but very rough, roof gone, interior trashed, the old owner wanted $30,000 OBO! I came away with nothing and felt I wasted my time. In contrast the Chickasha, OK Prewar meet was the best time I've spent and I will definitely go back to that one.
_________________________
Don Rundgren
1963 Buick Riviera, 1928 Pierce Arrow Model 81
AACA, PAS, BCA, ROA
McKinney, Texas
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