Great low-mileage '41 Buick on Ebay -- Not mine

[B Jake Moran]

On ‎8‎/‎17‎/‎2019 at 8:19 AM, mercer09 said:

Please explain WHY you think the price is right?  Because "you can't restore one for that price?

 

 

so you think you can buy these cars for under 8900 and that is fair value?

 

good luck with that...........................

 

this isnt 1929.

mercer09

Recently you and I have gotten sideways on these issues, so I am assuming there is some dislike for my comments in general.  Here, I simply asked for a reason why you believe $25 large is a fair price for this car.  I can tell you that I monitor all markets for fun, not anything else, and $25,000 - especially from this dealer that purchased it wholesale from the seller-estate family - is all about profit taking by the dealer. 

 

Last week that very nice 1938 Cadillac Sixty Special sold for $8500 on the Cadillac LaSalle Club website, member to member.  I am a BCA and CLC member, and in the Bugle there are several cars that can be purchased for far less than $25,000 for this car.   I remember about 2 months ago, Matt Harwood did a search of Hemmings for cars $10,000 or less, pre war and came up with hundreds of hits. 

 

I think the right price for this car is $12,000 to $15,000, subject to inspection. But the difference has to come out of the dealer's profit, so it will remain unsold for awhile. If it was such a hot buy at $25,000, then someone would have used the Best Offer option, and placed perhaps a $20,000 bid.

I base pricing on market reality, trends which include how this car ended up with a dealer - and that is a general dumping of baby boomer or best generation collectors and their kids of these closed cars on the market.  There is a surplus, even though it may not seem so on a micro level where we pull one car out of a hat to review like this one, overall, many of these cars are being placed in the market because of owners who are still alive "down sizing" or estates selling dad's cars.   This recent analysis all started, kind of, with Earl's 1939 Buick convertible posts. 

 

I spoke with a 1924 Cadillac owner of a closed car, asking price is $19,500.  We had a great conversation, lots of honesty and it is a nice car.  I asked for the purposes of my needing to "hustle" up to buy the car "have you had much interest in your ad."  He said "Not one call, text or email until you"  It's a 3 week old ad.

 

Thankfully, as noted, we have reached the point where these closed cars are no longer matching the 401k market for upward pricing ensuring a profit for sellers who simply put them in a garage.  This attitude has left thousands of potential next generation owners out of the hobby.  It sure has limited what I can buy.  I recently got approved for a $40,000 loan to buy a couple of old cars, but there is no way I am over-spending just to scratch an itch.  I'll keep looking, not for bargains, but for the "right" car at the market correct price that would satisfy both buyer and seller.

 

I am simply asking for proof of why $25,000 is a "fair" price? If you have the proof, it educates me and others.  If not, then you are still entitled to your opinion on the forum.  Have a good day. 

Edited August 19, 2019 by B Jake Moran (see edit history)

[B Jake Moran]

11 hours ago, 30 Hupp said:

Well said, Matt!

Lots of active women in the Buick Club and Cadillac Club.  Sometimes only women come to monthly get togethers!  Big help at meets, equals.  My wife has lost interest in the hobby but will go to monthly get togethers.

[mercer09]

I am simply asking for proof of why $25,000 is a "fair" price? If you have the proof, it educates me and others.  If not, then you are still entitled to your opinion on the forum.  Have a good day. 

 

actually I agree with you on most comments- I search thousands of car ads every week, as a hobby. I feel this car is a solid buy at 20k. I pretty much have a pulse of the market. Maybe not so much on a 1913 Mercer, but on cars priced under 50k.

and yes I do look at the sold prices and pay no regard to asking prices. this car may only be a special, but in the grand scheme of things, I believe you will be hard pressed to find one as nice. Plenty of cars that are only 10k, but then need a whole new interior or a paint job.

most are well aware of what either of those can cost.