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cardinal905

CAR VALUES

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I thought I would start a new discussion on values, as that seems to be a very opinionated subject. I am dying for a 3rd classic, prefer a driver I can tinker with and fix up (while driving) In another post I saw a guy say use the "GOLD BOOK" I have looked at many cars on there vs what is selling on E-bay and in Hemmings and the Website always comes up way short of what people are asking or paying. AM I MISSING SOMETHING ???

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I thought I would start a new discussion on values, as that seems to be a very opinionated subject. I am dying for a 3rd classic, prefer a driver I can tinker with and fix up (while driving) In another post I saw a guy say use the "GOLD BOOK" I have looked at many cars on there vs what is selling on E-bay and in Hemmings and the Website always comes up way short of what people are asking or paying. AM I MISSING SOMETHING ???

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Ebay is about as true a reflection of car values as "Star Trek" is to space travel.

People's asking prices on Ebay are usually way over value. The bought a car for $8k, put $50k into it and now want $75 so they get their money back and a little something for their troubles. Problem is the car is worth $40k.

Add to that the fact that Ebay is a lowballers paradise in general, and that skews the perception even more.

If you want a 3rd car, post what your looking for on forums like this and find a similar person to you selling one. There are a lot of deluded people out there.

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Ebay is about as true a reflection of car values as "Star Trek" is to space travel.

People's asking prices on Ebay are usually way over value. The bought a car for $8k, put $50k into it and now want $75 so they get their money back and a little something for their troubles. Problem is the car is worth $40k.

Add to that the fact that Ebay is a lowballers paradise in general, and that skews the perception even more.

If you want a 3rd car, post what your looking for on forums like this and find a similar person to you selling one. There are a lot of deluded people out there.

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Hi as I see it when you buy a fixer most likely a little later you will find a parts car that is better ?? Any thing special you are looking for as this board is a good pair of eyes and ears.Ebay is a good thing to see value if they sell other wise it is just not close as most of the bids are fake .?? Mike

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Hi as I see it when you buy a fixer most likely a little later you will find a parts car that is better ?? Any thing special you are looking for as this board is a good pair of eyes and ears.Ebay is a good thing to see value if they sell other wise it is just not close as most of the bids are fake .?? Mike

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<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Johnpaul Ragusa</div><div class="ubbcode-body">Ebay is about as true a reflection of car values as "Star Trek" is to space travel.

People's asking prices on Ebay are usually way over value. The bought a car for $8k, put $50k into it and now want $75 so they get their money back and a little something for their troubles. Problem is the car is worth $40k. </div></div>

hahahaha I have to start quoteing you on your Ebay/Star Trek analogy.

I have SO MANY examples of my EBay experiences that prove what you said I could write a book.

Everything from knowingly mis-representing cars and part to sellers that use shill bidders to bump up the price on their items.

"Buyer Beware" applies to Ebay just like any other purchase one makes.

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<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Johnpaul Ragusa</div><div class="ubbcode-body">Ebay is about as true a reflection of car values as "Star Trek" is to space travel.

People's asking prices on Ebay are usually way over value. The bought a car for $8k, put $50k into it and now want $75 so they get their money back and a little something for their troubles. Problem is the car is worth $40k. </div></div>

hahahaha I have to start quoteing you on your Ebay/Star Trek analogy.

I have SO MANY examples of my EBay experiences that prove what you said I could write a book.

Everything from knowingly mis-representing cars and part to sellers that use shill bidders to bump up the price on their items.

"Buyer Beware" applies to Ebay just like any other purchase one makes.

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Love your cars johnpaul, I only hope I am so lucky some day. I understand the fake part of E-bay--I lost a modern convertible that was bought out from under me by the seller, but right now I am watching 2 cars--a 54 Patrician and a 55 Packard 400. Both have over 17 bids and the Patrician is 2k or so over the value on Gold Book. This seems to be the rule rather than the exception---so where is our hobby as far as values go?

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Love your cars johnpaul, I only hope I am so lucky some day. I understand the fake part of E-bay--I lost a modern convertible that was bought out from under me by the seller, but right now I am watching 2 cars--a 54 Patrician and a 55 Packard 400. Both have over 17 bids and the Patrician is 2k or so over the value on Gold Book. This seems to be the rule rather than the exception---so where is our hobby as far as values go?

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Yeah thats them, the Branson one is probally 30k reserve--can only justify from what I see 15k. The other is 2k high already. Thats what I am trying to get at---how does a rookie arrive at a fair value there seems to be so much disparity.

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Yeah thats them, the Branson one is probally 30k reserve--can only justify from what I see 15k. The other is 2k high already. Thats what I am trying to get at---how does a rookie arrive at a fair value there seems to be so much disparity.

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The first item that I ever sold on ebay was a 1941 packard 4 door straight 8 cylinder. It ran and drove but the body did have issues. The inside trunk was like a screen window but the floors were fairly solid. The car brought around $4,000 with no reseve which I was happy with. The winning bidder did not pay but the under bidder called me and said he really wanted the car. After the non paying bidder's time was up, I offered a second chance to the under bidder and he took it. Needless to say, the non paying winning bidder did leave a bad taste in my mouth for a first time ever eBay sale item. The real kicker was that bidder #2 was beat out by (.01), yes, that was one lousy cent. frown.gif Bidder number 2 turned out to be a very nice couple and I am glad they got the car. smile.gif Dave!

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The first item that I ever sold on ebay was a 1941 packard 4 door straight 8 cylinder. It ran and drove but the body did have issues. The inside trunk was like a screen window but the floors were fairly solid. The car brought around $4,000 with no reseve which I was happy with. The winning bidder did not pay but the under bidder called me and said he really wanted the car. After the non paying bidder's time was up, I offered a second chance to the under bidder and he took it. Needless to say, the non paying winning bidder did leave a bad taste in my mouth for a first time ever eBay sale item. The real kicker was that bidder #2 was beat out by (.01), yes, that was one lousy cent. frown.gif Bidder number 2 turned out to be a very nice couple and I am glad they got the car. smile.gif Dave!

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I have bought two trucks off eBay sight on seen.

One was about $1000 over the price I would have offered if I had seen it before I got it home and saw the real condition. I later sold some extra parts that came with it for $600 so I figure I didn't do to bad.

The other had 6 bad tires even thought it was advertised as NYS inspected. I figure he didn't say they were new, so I probably over paid about $500 on that one.

I would buy another off eBay if I find the right deal. I figure that the first one was still less than airfare to go look and the second one I didn't notice the cords showing on the tires till my NYS inspection, so even if I had looked at it I would have missed the tires (it did have a valid NYS inspection, guess he has a more lenient inspector than me). I have over paid by more than that on cars I have seen.

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I have bought two trucks off eBay sight on seen.

One was about $1000 over the price I would have offered if I had seen it before I got it home and saw the real condition. I later sold some extra parts that came with it for $600 so I figure I didn't do to bad.

The other had 6 bad tires even thought it was advertised as NYS inspected. I figure he didn't say they were new, so I probably over paid about $500 on that one.

I would buy another off eBay if I find the right deal. I figure that the first one was still less than airfare to go look and the second one I didn't notice the cords showing on the tires till my NYS inspection, so even if I had looked at it I would have missed the tires (it did have a valid NYS inspection, guess he has a more lenient inspector than me). I have over paid by more than that on cars I have seen.

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Cardinal, no one has actually answered your question regarding how to determine value being a novice. My suggestion is to look at past auctions on eBay, auction results from the bigger auction companies, Old Cars Price Guide, past Packard publications (since you seem to be focused on Packards), joining one or two of the Packard clubs and calling members who own the cars you're interested in. Ask them what they paid for their cars or what they think a particular car you're interested in is worth based on it's condition. I think you'll get the most honest answers by asking other people who own the cars you want to buy. They won't have any vested interest in lying to you because they're won't be trying to sell you something. You have to make the effort to do the research into the not-too-distant past sales prices. Be patient and collect data.

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Cardinal, no one has actually answered your question regarding how to determine value being a novice. My suggestion is to look at past auctions on eBay, auction results from the bigger auction companies, Old Cars Price Guide, past Packard publications (since you seem to be focused on Packards), joining one or two of the Packard clubs and calling members who own the cars you're interested in. Ask them what they paid for their cars or what they think a particular car you're interested in is worth based on it's condition. I think you'll get the most honest answers by asking other people who own the cars you want to buy. They won't have any vested interest in lying to you because they're won't be trying to sell you something. You have to make the effort to do the research into the not-too-distant past sales prices. Be patient and collect data.

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Cardinal,

Going back to your starting post I have had the same questions. I agree that Mannheim Gold Book prices seem low across the board but they are quoted a lot on these forums. Does anyone know exactly how they determine their values and whether or not they do reflect reality in the matketplace?

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Cardinal,

Going back to your starting post I have had the same questions. I agree that Mannheim Gold Book prices seem low across the board but they are quoted a lot on these forums. Does anyone know exactly how they determine their values and whether or not they do reflect reality in the matketplace?

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Did not know of Old car price guide, will search the web. Not really set on Packards but seem to gravitate to the makes and models that you dont see at every car show (no offense intended) I figure the odd cars will hold value better---maybe I am wrong. Thanks for the tips.

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Did not know of Old car price guide, will search the web. Not really set on Packards but seem to gravitate to the makes and models that you dont see at every car show (no offense intended) I figure the odd cars will hold value better---maybe I am wrong. Thanks for the tips.

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One way to determine the value of a specialty car is to have it appraised. To merely get the range of possible prices wheter buying or selling, the various online sites and personal recomendations can get you "in the ballpark". If you are considering a specific vehicle or want to insure your present collector car for actual replacement value an appraisal will certianly help.

I am currently building a practice providing professional valuations for all types of collector in the Central CA. Coast area.

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