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Lambracht Auction


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Did anyone go to the Lambracht in Nebraska today? From what I saw on the History Channel today the prices were quite high. Till pretty neat stuff

Chuck Kerls

It's being rerun right now as I type this. I've only seen some relatively unremarkable cars auctioned so far (none of the 1-3 mile cars or really rare steel has been on since I started watching). The prices being paid for cars that need total restorations seem to be about what the cars will be worth when they're done. A lot of $25K-$40K four door sedans. I don't get it.:confused:

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I watched the auction (or at least part of it) on the History Channel last night. At first, I thought it might be a parody with fake bids dubbed into the auction. After a while I figured out it was real.

My explanation for the high prices is the current popularity of "original" cars, and the desire for some owners to be "Best of Show." If you are willing to spend enough money, you can purchase a car or truck with 4-20 miles on the odometer, and be a guarrenteed winner in every car show you go to with an "original" class. Unless, that is, someone else is there who was also was at the Lambracht auction with as DJ pointed out "money to burn."

Don't get me wrong. I don't think this is a bad thing. I think it is just another facet of the car hobby.

I'm sure the Lambracht kids thought Daddy was a nut. His grandkids think he was a genius!

Edited by Dwight Romberger (see edit history)
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OK, I followed it on the Internet, and here's my question.....the 1958 Cameo truck was damaged, a beam had fallen on the roof and dented it, busted the windshield...now, someone paid $140,000 for the thing, with 1.3 miles on it.

What does the buyer do now?

If he fixes the damage, the truck is no longer "original".

If he doesn't fix the damage, people will constantly be looking at it as just that, a wrecked truck.

So, aside from the fact that was silly money for the thing, what comes next?

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We were within 25 miles of auction yesterday visiting the grandkids. I thought about going but didn't. After watching some on proxy bid and the History Channel, it's just as well we didn't fight the crowd of thousands of spectators and buyers with deep pockets. Local rumor here is that Jay Leno asked a local motel if he could rent most of it, was denied, got ***** and went back home without staying for the auction. Had he been there, I think the History Channel would have had him on. Maybe it was true, don't know.

link to results:

https://www.proxibid.com/asp/Catalog.asp?aid=68561&p=1&sort=0#cnTb

Rod

Rod

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This is one of my issues with the hobby. Now every T,D and H will think their old junker out in the fence row is worth what these cars brought. So people are over pricing their car, young people wanting to get started can't afford the price, and the car sits and rots! I suppose it's tha American way.

I turned 16 in 1973 when I bought a beautiful maroon 1962 Chevrolet Impala SS for $400. But I was working for $1.50/hr working on a farm when I wasn't in school. How the times are changing.

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This is one of my issues with the hobby. Now every T,D and H will think their old junker out in the fence row is worth what these cars brought. So people are over pricing their car, young people wanting to get started can't afford the price, and the car sits and rots! I suppose it's tha American way.

X2. This has been about THE most over-hyped automotive auction ever. The early edition of the Sunday Washington Post had a full color photo and story above the fold on page one. :rolleyes:

As noted, once again auction fever infects people with more money than brains, ruining it for serious car people. When the general public watches BJ and the like on cable, they all think their POS is worth $10M. Too bad, as these cars then simply rot away waiting to be sold.

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The red & white 1963 Chevy 2dr HT for over $97,000 blew me away. It was not an SS, not a 409. What was I missing that made it bring so much?? Same to be said for the $10k Vega. Must have been auction fever that made the prices so crazy.

I also thought the History Channel coverage team left a lot to be desired.

Terry in PA

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OK, I followed it on the Internet, and here's my question.....the 1958 Cameo truck was damaged, a beam had fallen on the roof and dented it, busted the windshield...now, someone paid $140,000 for the thing, with 1.3 miles on it.

What does the buyer do now?

If he fixes the damage, the truck is no longer "original".

If he doesn't fix the damage, people will constantly be looking at it as just that, a wrecked truck.

So, aside from the fact that was silly money for the thing, what comes next?

I saw an interview with the buyer who said he intends to leave the Cameo exactly as it is, totally untouched.

So in other words, the Cameo will be just as useless and non-functional as the most fabulous trailer queen ever built, only not nearly as attractive.

I saw several more interviews in which buyers said (paraphasing) that the Lambrecht cars are more "real" than restored cars, that these were "just the way the factory built them." I thought; Really? These cars came off the assembly line covered in bird poop, with all their hydraulic systems frozen solid, and weeds visible through the floor of the trunk?

It really is a form of delusion.

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When they auction off my estate (Ha, ha, ha,) I want VanDerBrink to do the job. I assume they created the enormous media hype surrounding this auction and they did a great job for the family. They tapped into the current barn find fever streak and ran it for all it was worth. Looking at the auction results the obvious draw was all the ultra low mileage vehicles but with a few exceptions they were in horrible condition - the whole collection was another example of car hoarding taken to the extreme. I'm sure we will see a number of these cars repackaged for resale quickly to capitalize on the Lambrecht name but some may become the basis for sympathetic restoration. I am definitely the wrong audience for this - if I bought a big block Impala with 2 miles on it I would get it running and start driving it!

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Well, yes, a great find, but the problem to me is that anything you do to these cars makes them go down in dollars from the inflated value at the sale. In other words, you'd need to store them, dust and warts and all, exactly as found, and either enjoy pride of ownership, or hope someone wanted a piece of the action and would pay you more for it.

My original contention was that the cars inside should never have been moved, they should have been sold in place, inside. Then, at least the new buyer has the joy of taking the vehicle out into the light for the first time. Otherwise, every time an auction worker slammed the door, the originality decreased.

Understand, I'm not in any way a sore loser, I wouldn't have, nor did I, bid on any of this mess. The interesting thing, though, is the publicity. I had my brother in law calling me to see if I was going to the auction. I had a friend who I'm in partial contact for the last 30 years contact me and ask me if I was going to this auction.

I don't think another auction has recently been so hyped.

Congrats to those who bought these low mileage cars, have fun with them......

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I can tell you one thing. I deal in NOS parts and after looking at the prices paid for alot of the NOS parts, people were going crazy. You could buy most if not all of these NOS parts in the boxes off ebay and have them shipped to your door almost any day of the week for 1/3 or 1/2 as much. The malibu script would be 50.00 on a good day. 450.00 wow. I have some nos parts for sale as well any takers?

The tape measure for 165? the yard stick I think was 600.00? I think PT Barnum was running this show.

I've had a few survivors. I'll take them over these. I could drive everyone of them and they looked good as well. Shiny paint and chrome, even though it was a bit thin in spots from years of careful care, polishing and proper storage.

Everyone of these that is bought is technically not a new car as they now have an owner other than the dealer, Correct? Unless another dealer bought them they will have to be titled to then be transferred to the next buyer wont they? Atleast to be legitimately transferred.

Edited by auburnseeker (see edit history)
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VanDerBrink does a great job. I have attended other auctions she has run and they are first class. She really does a great job for the seller and treats her buyers great as well. Quite honestly, her sales are conducted better than a lot of the "established" collector car auction companies.

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VanDerBrink does a great job. I have attended other auctions she has run and they are first class. She really does a great job for the seller and treats her buyers great as well. Quite honestly, her sales are conducted better than a lot of the "established" collector car auction companies.

Great, great, great group.

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I agree with the comment above that the History Channels coverage left a lot to be desired. The only one that knew much was the bearded one.

Agree on both counts. The 'main guy' made it almost impossible to watch. Rutledge Wood (the bearded guy) is a true car guy so having his insight (and humor) helped.

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IMHO people looking for bargains waste their time going to auctions because there are always to many idiots there with too much money to spend. Tex Riv__63l VanDerBrink was not interested in helping the family; their concern was to drive the prices as high as possible to increase the fees going into their own pockets.

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Watched the auction on History.Not impressed with the hosts blabbing over the actual auction. Lets face it these guys are mostly into the new crap. Rutledge has trashed the Corvair before on Top Gear and he did it again. Got very few facts right but was glad their daughter stood up for her Corvair.Crazy,crazy money for fairly commom Corvairs. I could relate some humerous stories from Corvair guys that were there in talking to "newbie" Corvair owners. People really didn't know what they bought.Ed in Florida,proud owner of an original un-restored 1960 Corvair

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OK, I followed it on the Internet, and here's my question.....the 1958 Cameo truck was damaged, a beam had fallen on the roof and dented it, busted the windshield...now, someone paid $140,000 for the thing, with 1.3 miles on it.

What does the buyer do now?

If he fixes the damage, the truck is no longer "original".

If he doesn't fix the damage, people will constantly be looking at it as just that, a wrecked truck.

So, aside from the fact that was silly money for the thing, what comes next?

Steve Ames (owner of Ames Performance Engineering who sells and reproduces Pontiac parts) bought the Cameo. It couldn’t be going to a better home. Steve has an amazing collection of original low mileage vehicles from Hemi’s to judges, Thunderbolts, Ferraris, Lamborghinis, etc. Three buildings of jaw dropping cars that I saw years ago. When they interviewed Steve he said the Cameo would stay as is.

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I think we have to look at these cars at this auction as entities unto themselves. They'll never be restored, they'll always be the "Lambrecht cars" and that's that. People are paying a premium for that unique provenance. It makes no sense, it's stupid, it's ridiculous, but nobody said cars were a rational hobby.

If we look at it realistically, there's a real conundrum: You've bought a low-mile original car that needs a total restoration; do you keep it as-is and preserve the originality, despite the deteriorated condition and likely the inability to use it as anything but a static display? Or do you use it as the foundation of a fresh restoration so it can be just like all the restored cars? There's just no reasonable upside to ANY of these cars no matter what you do to them. Keep it or restore it, it's still just a garden-variety car that's either completely unusable or just like 10,000 others.

So what you're left with is people paying a premium due to the marketing power of perception. We will be seeing Lambrecht cars circulating the auction houses until everyone is over the hype. And the first round of suckers who paid too much at this auction will be like the Ferrari guys in 1989 or the Hemi guys in 2008--they'll be holding the bag when the music stops and think, "I paid how much for WHAT?!?"

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I think we have to look at these cars at this auction as entities unto themselves. They'll never be restored, they'll always be the "Lambrecht cars" and that's that. People are paying a premium for that unique provenance. It makes no sense, it's stupid, it's ridiculous, but nobody said cars were a rational hobby.

If we look at it realistically, there's a real conundrum: You've bought a low-mile original car that needs a total restoration; do you keep it as-is and preserve the originality, despite the deteriorated condition and likely the inability to use it as anything but a static display? Or do you use it as the foundation of a fresh restoration so it can be just like all the restored cars? There's just no reasonable upside to ANY of these cars no matter what you do to them. Keep it or restore it, it's still just a garden-variety car that's either completely unusable or just like 10,000 others.

So what you're left with is people paying a premium due to the marketing power of perception. We will be seeing Lambrecht cars circulating the auction houses until everyone is over the hype. And the first round of suckers who paid too much at this auction will be like the Ferrari guys in 1989 or the Hemi guys in 2008--they'll be holding the bag when the music stops and think, "I paid how much for WHAT?!?"

+1

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