Has the market fallen out of the pre war Buicks?

[deac]

A day or 2 ago I saw a 38 Buick Century sell on eBay for just under 13 grand!!  It was restored a few years ago and looked nice in pictures  Either the market fell out of pre war Buicks or a bottom feeder on eBay got very lucky.  I would think the Buick would've gone for at least $20,000.  I mean it was a Century!!

 

1938 Buick Century Century Restored - No Reserve!!

Winning bid:

US $12,877.00

[Aaron65]

That's a bargain for sure.  If this keeps up, I'll probably have to get a '30s or '40s Buick to go with my '50s and '60s Buicks.  

[MCHinson]

If you looked closely at the interior photos, the steering wheel, and a few other photos, you will see why that car sold that cheaply. It was a decent deal, but my estimate is that the buyer will have about $20,000 total in the car if they want to make the interior look any where as good as that exterior photo makes the car appear. 

 

For further discussion of that car's condition check out: 

 

Edited November 18, 2023 by MCHinson (see edit history)

[kingrudy]

I did not see what the interior looked like, but just the upholstery material can be expensive if that needs to be re done. Very attractive car IMO.

[CarNucopia]

An article in Hemmings claims the collector car market is experiencing a correction. Combine that with the demographic shift happening and it's not surprising that Prewar cars are declining even more.

 

https://www.hemmings.com/stories/auction-market-reset-2023/s 

 

 

[Jolly_John]

Thanks for posting the link to the current Hemmings article, CarNucopia. It seems spot in the rationale given for the decline in pricing for several areas of current collector car sales. Again, interesting, helpful reading.

 

The BUICK CENTURY referred to in this tread was discussed here on the forum when the eBay auction for it was going on. There are a number of problems with the car (forget the "restored" comment). These are evident, if you know 1938 BUICK's like Matt Hinson does.  So, this particular BUICK isn't the best barometer for pre-war vehicle price trends. That said, it certainly does feel like the market has softened for 2-door and 4-door sedans of most vintages. I.E. very few buyers seem to be interested in tying money up in these body styles...UNLESS they are able to buy a really good one "cheaply".  Just my thoughts, of course. John

Edited November 18, 2023 by Jolly_John (see edit history)

[MCHinson]

With the economy being what it is at the moment, I think that 10-20% reduction on just about any non-mandatory purchase is probably to be expected. The prices on Prewar cars is certainly down a bit, but that 1938 Buick sale price was influenced by the poor condition of the interior and the clearly visible modifications and repairs that are obvious that have been neglected over a significant period of time. The exterior photos look nice, but as soon as you look closely at the other photos, you will see many problems with that particular car. 

[suchan]

Nice cars bring good money.

A really nice '38 Century sedan (my dream car) is always going to cost you. Maybe $30K and up.

Judging values on a car with a lot of issues like this one is difficult. It all depends on what you want to do with it, just keep it running, fix the interior, or do a full restoration.

I'm with those who think it went for a fair price.

[deac]

Unfortunately I didn't look close enough at the car and was too quick to post my original question. 

 

 

[B Jake Moran]

38 minutes ago, deac said:

Unfortunately I didn't look close enough at the car and was too quick to post my original question. 

 

 

No not necessarily.  It's an interesting discussion topic.  As I recall, there was a beautiful 38 Century - Blue I believe - from the last 18 months or so on this forum sold by a collector in Minnesota that languished unsold for months with price drops, I think the last ask was $18,000 or so. 

I ask from a different perspective. Why do we (potential pre war buyers) need to pay ever increasing prices for pre war Buicks?  

 

"Market correction" is a good way to look at it.  For those with pre war Buicks, or Buicks from any era for that matter, own them, enjoy them, drive them but why do you always believe the price needs to go up?  

If I own a car for 10 years, maintain it, enjoy it and purchased it for $18,000, I don't expect to get $25,000 even though it looks and drives the same.  

[B Jake Moran]

On 11/18/2023 at 10:37 PM, suchan said:

Nice cars bring good money.

A really nice '38 Century sedan (my dream car) is always going to cost you. Maybe $30K and up.

Judging values on a car with a lot of issues like this one is difficult. It all depends on what you want to do with it, just keep it running, fix the interior, or do a full restoration.

I'm with those who think it went for a fair price.

A person should never have to pay $30,000 for any closed Buick now, from the teens (very few made I suppose) to the 80's.  Never.  

 

In the last say 5 years, I have seen at least 200 Buicks from 1920's through 1950's for $30,000 or less that would be bronze to gold winners in 400 point judging (not that that's the end all be all for value determination) 

Of course you may have just picked $30,000 out of the air as a benchmark. But even $20,000 for a closed car, excepting a few 2 door hardtops in really nice shape, should buy an awful nice car.  A 2 + or so.   I guess if you want to spend $30,000 plus for a multi car show winner, a Doug Seybold restoration, OK, but those are the exceptions. 

[suchan]

I think the blue Century sedan you recall was a 1937. A nice car, and I remember thinking it was in about the same condition as my LaSalle, maybe 2-minus/3-plus. A really good driver. I figured it'd sell in the very low $20K's, and was surprised he struggled to get $18K for it. Like you say, that's the market.

To my eye, the '38 is a better-looking sedan. The Century had the bump in HP, up to 141 from 130 in 1937, and it was the last year of the floor shift. When I had my two '38 Special sedans, that was the car to get. Ratty ones were offered in the upper teens, and the best ones were close to $35K.

The market may be soft, but if a 38-61 in #2 condition turns up at a $20K asking price on the West Coast, my LaSalle, which is a great car, is down the road.

[deac]

On 11/27/2023 at 7:24 AM, B Jake Moran said:

No not necessarily.  It's an interesting discussion topic.  As I recall, there was a beautiful 38 Century - Blue I believe - from the last 18 months or so on this forum sold by a collector in Minnesota that languished unsold for months with price drops, I think the last ask was $18,000 or so. 

Funny you should bring up that car. Initially the seller wanted close to 30 grand for that car. I had the car inspected and it had a few issues : the paint had cracked in a few places and there was a trans issue that the inspector wasn't able to verify. For 30 grand I just couldn't justify the paint cracks. But overall  I figured it was an above average clean driver. After the inspection I spoke the seller and offered something like 22 grand. I said that was a generous offer. He was taken back and probably a little insulted. Hence he didn't have a counter offer close to my offer. A month later I watched that car wither on the 'not mine' section. I would seriously consider buying it if it was still for sale at a price range of 18 to 20 grand 

Edited November 28, 2023 by deac (see edit history)

[Centurion]

Interestingly, there was a '38 Century model 61 that was recently sold on Bring-A-Trailer.  This one sold for $20,050 on Nov. 5.  You might find the description and all the comments to be interesting:

 

https://bringatrailer.com/listing/1938-buick-century-2/

 

[suchan]

Wow.

I check BAT on occasion. I don’t know how I could’ve missed that one.

[deac]

1 hour ago, suchan said:

Wow.

I check BAT on occasion. I don’t know how I could’ve missed that one.

I, like you, do check BAT a few times a week and I didn't see either. However I mainly look at the no reserve auctions.

[B Jake Moran]

And there you go.  A pretty darn nice Century sells for $20,000.  It seems there was interest.  One sale does not make a statistical difference, it just seems that $20,000 to "maybe" $25,000 ought to buy a well sorted 37-38 Century.  4 door.