Opinions of Barrett-Jackson for vintage cars

[Guest Skip Jordan]

It strikes me that vintage/classics at Barrett-Jackson get no love, and go for prices far lower than places like Coy's, RM, etc. Why would someone put up an Auburn in front of the muscle car audience?

I'm watching the auction now on SPEED TV and am surprised at seeing some of these cars go for less than a Super Bee.

[jvsb]

Couldn't agree more. Certainly some exceptions. There was a 33 or 34 packard closed sedan at Barrett that I felt went way too high. I was at Gooding and there were a few "muscle car" type cars that didn't do too well. Guess it works both ways.

[Guest Skip Jordan]

Couldn't agree more. Certainly some exceptions. There was a 33 or 34 packard closed sedan at Barrett that I felt went way too high. I was at Gooding and there were a few "muscle car" type cars that didn't do too well. Guess it works both ways.

Apparently, it does go both ways. This past weekend, a Mercedes Gullwing with some minor restoration inaccuracies went for $2 million. That's nearly twice what I've seen them sell for.

[Steve_Mack_CT]

Even with a slow economy outside of Kruse last year are any of the major auction houses having difficulty? I guess that is a good sign overall. There are more choices out there, and B-J I think, does not have the reputation for handling Classics like it did back in the day. Probably a business decision for them to focus on the other stuff, just as RM seems to have decided to place a high priority on Classics.

[Guest Crusty]

I've heard from a reputable insider that not all of the high-profile "auctions" at Barrett-Jackson are legitimate. He said occasionally owners of really high-end cars are quietly asked to lend their cars to the show, then in the weeks after the auction the purchase "falls apart" and the car never changes hands. It works out well for all involved: Barrett-Jackson has more high-dollar cars to show, the car owner gets to see his car on TV, and the car's value is artificially increased by the winning shill bid.

More "reality TV" at it's best.

[trimacar]

Oh my gosh! Some auctions aren't real? I'm crushed....

Just teasing. There are all sorts of games going on at auctions. Shills are legal in most auctions, and if the owner isn't bidding it up, he could have a friend doing so.

And, legally, the auction company itself can enter "phantom" bids. It's all to get the price up. As a seller? You won't argue. As a buyer? In some cases, start asking, during the bidding, who you're bidding against...it can get interesting.

Auctions can be a great way to buy a car, but there are so many things that have to fall into place. You must look over car, before auction, and hear it run, or drive it. You must be understanding of what is a so-so restoration, and a great restoration, or what constitutes an original car. You must know values, and you absolutely must SET A VALUE, above which you won't bid, and stick to it.

I had a friend (deceased) who built a great collection, doing just that...if the bidding reached anything over his figure, he said no......

There are deals to be had at auction, if you follow the rules mentioned, and are patient.

Now, the disclaimer. I've bought cars on the spur of the moment, just because it felt right. It's worked out for me, literally with bought/sold figures, 97% of the time. So, sometimes you just have to go with your gut feeling!

[NTX5467]

If you go into the websites of the various auctions, you can find what cars will be on the block (possibly even when) and also see what earlier sales have produced as to vehicle prices. Obviously, certain vehicles sell better in certain locations than others. The same car at a B-J Florida auction will probably not bring the same money it might at the Scottsdale auction, by observation. Just as with real estate, "location" can be KEY!

For some of the prices I've watched at the B-J Scottsdale activity, the sellers obviously lost money on the deal, but as these auctions are "No Reserve" (what they bid to, they sell for), they should fully know the peril they might be getting into. Not to mention the "price of admission" to list the car in the first place!

One of our customers went to Scottsdale and bought a good number of cars, last year. EVERY one of them needed some work to be fully operational, it seemed. A car might look neat on the topside, nice paint and such, but look at how the chassis was modified to get that larger engine in the car, how the suspension was upgraded, and it might scare you. In another case, a Mustang GT-500 went through with a known-noisey engine . . . some restoration people do well on the paint/body, but know little about getting engines rebuilt by competent entities.

Still, many higher-end USA luxury brand vehicles seem to be very bargain-priced compared to some of the more popular muscle or pony cars. Having a correctly-restored '66 Mustang GT Convertible (in deep crimson red, with almost every option) would be neat to have, but then so would a '63 Lincoln convertible for less money. Decisions . . . priorities . . . ego . . . whatever!

If it's a muscle car, or similar, documentation and pedigree are certainly significantly important to get top dollar. One reason the "1 of NONE" clones/recreations are generally less expensive . . . UNLESS it's just what somebody wants and is willing to pay for. The "tripped trigger syndrome."

Remember, too, that once the vehicle is purchased at the auction, there's still more paperwork and related expenses before the car can leave the auction compound!

Buyers must do their due dilligence research just as sellers must. Bargains can be had, but you'd best know what you're looking at when you see it! Remember, you're buying a "used car" . . . just not on a car lot on Main Street USA.

Just some thoughts,

NTX5467