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Booreatta

Lambracht Auction

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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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Benefits of AACA Membership.

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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Here's recent news link!

http://autos.yahoo.com/news/thousands-travel-neb-vintage-chevy-auction-151655435.html

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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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Thanks Ron, that's interesting, and good that it's in a collection of "like" vehicles.....

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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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I think that there were many bargains in the cars that sold for under $1000.

After all, where can you buy a complete car for under $1000?

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I think that there were many bargains in the cars that sold for under $1000.

After all, where can you buy a complete car for under $1000?

Where would you like them delivered? :-)

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I wonder what happened with some of those dealers back in the 60's? My hometown had two such individuals owning dealerships and putting brand new cars into storage they didn't sell. One had a Chevy dealership, the other a Pontiac. The one with the Chevy dealership put numerous cars away with less than 10 miles on them and they were stored carefully of which his sons now have ownership....can't image what they would bring seeing the sales results of similar cars which didn't have careful storage.

I thought about putting one away in the 80's but I was dreaming as I didn't have money to even buy an old clunker to drive, let alone a new one to sit. (Fantasy Land) I'm sure in the future more cars will come out of their time capsules as I believe the idea certainly must have caught on with others.

The dealers of the late 50's early 60's though...they must have simply put them away because of a lack of sales I would think..for the most part.

Any expansion of this would be appreciated. Thanks JO BO

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I doubt these cars would have brought more even if they had been carefully stored. Bidders were buying history, not condition. After all, how many people can own a Cameo pickup with that few miles, regardless of condition? And what a shame it would be to buy a vehicle with 10 miles on the odometer and then drive it. Wouldn't that be like buying a rare and precious Persian carpet and using it as a door mat? I thought the antique car hobby was in part about preserving history?

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What's amazing to me, in retrospect, is that there were dealers who were making so much money that they could pay the manufacturer for so many cars, and tie up that money when the car wasn't sold....and pay all the other bills and make a good living.

I'm sure there's money in owning a dealership now, but some of those older dealerships must have been pots of gold....

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What's amazing to me, in retrospect, is that there were dealers who were making so much money that they could pay the manufacturer for so many cars, and tie up that money when the car wasn't sold....and pay all the other bills and make a good living.

I'm sure there's money in owning a dealership now, but some of those older dealerships must have been pots of gold....

You have to think many dealer owners have money in all sorts of businesses, not just the dealership. The local dealers here that do the worst seem to have the wealthiest owners who just have the dealership as one of their many business ventures. The volume of business a dealer does is not always indicative of how successful the owner(s) is/are.

I do think its harder now more than ever with the worldwide marketplace.

Edited by 39BuickEight (see edit history)

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^^^^^^^^^^ I agree with all of the above but the main business difference today IMO are goverment controls and taxes plus unions, todays insurance rates, lawyers, the EPA, etc.

Oh for the good old days.

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Stastics show that the spread between the highest and lowest incomes are widening in America, even in this economy. If you learn to read the Dealer Invoice Sheets you will see the invoice (price paid) is about 2,500 - 3,000 below the MSRP on a new truck of a $35,000 MSRP. So they discount 10% and show you that they are going broke. Poor dealership! Now ask them to show you what is called "hold back (amount paid to dealer when they sell said vehicle). Then ask about the incentive plan the manufacture has on the vehicle (not the advertised cash back or interest) for the dealer. So the bottom line is if you pay the invoice price they will still make several thousand dollars on the vehicle.

Naturally some dealerships have gone broke because they did not sell vehicles.

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The greatest value of many of these vehicles would be historic. It would be interesting to study them closely and find out what has been declared today "as it left the factory". I'm sure there would be some surprises as well as possible amendments to current judging standards.

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The greatest value of many of these vehicles would be historic. It would be interesting to study them closely and find out what has been declared today "as it left the factory". I'm sure there would be some surprises as well as possible amendments to current judging standards.

While there were a significant number of extremely low mile "as it left the factory" vehicles in the auction, there were obnoxiously high prices paid for MANY vehicles that were at best 75,000 mile, "condition 5" vehicles that could be found rotting in the back alleys of any community in America. Most of the cars in that auction that I saw were unremarkable in every respect except that they were in that auction.

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I have no problem with people paying whatever they like for these cars. It's their money and it's a free market.

All I am saying is these cars will prove to be more desirable to own in theory than in reality. In their current, untouched form, they can't be driven and they are impractical to trailer around for shows, and they aren't even stabilized for long-term storage. What can you do with them? Look at them, essentially. They're garage art, 1:1 diecast.

And so these high prices are not going to hold. In the long term, Lambrecht cars are not going to sell at a premium to fully restored examples but at a discount, and at that point many of them will be restored if practical.

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...they'll always be the "Lambrecht cars" and that's that. People are paying a premium for that unique provenance.

Regardless of if one thinks the prices paid were high, low, or otherwise, and regardless of the condition of the cars themselves, that's exactly what it boils down to: buying a car with really unique provenance. And remember, the opportunity to buy those exact cars from the Lambrecht auction won't ever happen again. They might pop up for sale from now until the end of time, but you won't be able to ever buy them from THE event again. I would say that that matters, others wouldn't care one bit.

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