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1937hd45

ALMOST New Mustang sells for $500,000.00

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Just flipped on Barrett Jackson(8:30 East Coast Time)  and a near new white Mustang sold for $500,000.00 HALF a MILLION, I didn't hear any of the selling points. White with blackwall tires. What was the reason it was valued so high? Bob 

Edited by 1937hd45 (see edit history)

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Last one of the generation, will be delivered New later this year.

 

proceeds from auction went to a charity, so buyer can claim charitable donation of anything over sticker price of car.

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I forgot about the charity auctions. If you like them in orange the first on the "New" series just sold for $1,100,000.00. Now back to the RestoMod Camaros……….

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The TV auctions don't really interest me, and every

high-priced result makes the public think antique cars

are unaffordable to them.  So many times, when I

explain to casually interested friends that most antique cars

are reasonably priced, they exclaim, "I had no idea!"

 

I'd rather see a 1935 Hupmobile selling for $15,000,

or a 1951 Nash selling for the same.  They come closer to

what our hobby is all about.

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John, I completely agree with you!!!   The general public only sees and hears the price , so anyone who has an "old" car must be wealthy beyond description  while everyone else is poor and has to work for a living,

just to make ends meet ( and then spend what they earn on what may please them - new cars, extended vacations at world class resorts etc) Most of the public, unless they possibly have the opportunity to talk to someone ( and really listen to the answer) who has an older car could possibly appreciate what it takes us to get the car or cars we own to the level they are. People believe the hype promoted by the press. The thousands of hours that it took to get the vehicle to the level it is is never really commented on .

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I know of someone who bought some cars through BJ. In that forum, you buy high & sell low. I know of 2 he sold at far less than he paid for them at BJ. I believe the people buying cars there are more about who has a bigger pair than really wanting or needing the car they're bidding on.

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For all practical purposes, the car sold for about $100k and about $400k was a donation.

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I record the auctions. Put it on fast forward, skip anything newer than 65 especially vets, mustangs and muscle cars. You can watch 5 hours of goofy money spending in about 10 minutes, only stopping at the interesting ones. I still wonder why someone would pay the fees involved with these auctions. The only one really making the bucks is The auction company. 10-12% on purchase price from buyer and another 8-12% from seller means an average of 20% on every car!  It’s a racket!!!!!

Dave S 

Edited by SC38DLS (see edit history)

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15 hours ago, 1937hd45 said:

Just flipped on Barrett Jackson(8:30 East Coast Time)  and a near new white Mustang sold for $500,000.00 HALF a MILLION, I didn't hear any of the selling points. White with blackwall tires. What was the reason it was valued so high? Bob 

 

It appears that yet another person has more Dollars than (common) Sense. Car auctions tend to attract at least a few bidders like that.

 

I often wonder what percentage  of TV Car auctions are actually finalized versus cancelled after the TV cameras are shut off. 

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The auction does indeed make some huge bucks.

My personal experience was that when a bidder got close on one of my cars one of the staff came to me and offered to cancel the sellers fee if I were to come down a bit.

It kind of turned into a wash for me, just a couple hundred lower cash to me than if it were to hit the reserve and I paid the sellers fees.

The buyer still pays up his share so the auction still makes some $.

That was about two years ago and I still see it offered up on EPay by a dealer for about double of what I got.

One of those that I should have kept.

IM003056.JPG

IM003057.JPG

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I don't know, you got what you wanted and the dealer is stuck with it, that's a lot of gained floor space IMO. Bob 

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If only I had enough income to need a $400,000 charitable contribution. 

I watched the Mecum Auction for a couple hours last week in Florida and saw only two Pre WWII

cars.  One was a 39 Cadillac Resto Mod and the other a nice 40 Ford Coupe that got very little time on the block and I never knew what it was bid to.  It's time on the block was so short I din;t know if it sold cheap or was just ushered out.   All the rest were to new or to modified for me.

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These B-J Auctions are just "reality TV". A way for deep pocketed people to get on TV. I don't see any cars that cross the block when the camera is rolling as normal priced.

Maybe it's just sour grapes coming from me as I'm in Canada, in the middle of a deep freeze (-27c wind chill) and spending low value Canadian dollars$$.

 

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21 hours ago, 1937hd45 said:

I don't know, you got what you wanted and the dealer is stuck with it, that's a lot of gained floor space IMO. Bob 

 

This is true, I just kinda liked that one.

I went into a sell mode a couple of years ago as I am now building a new house.

2018-12-22 new house 001.JPG

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Most auto auction houses post results at no charge online. I look there after the auction. Most auto auction houses also keep their auction catalogues up online indefinitely for research purposes.

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