Barrett-Jackson good or bad ?

[86 2dr.ltd]

Just kinda curious what you guys think about the current inflation frenzy going on in the auction business. I know it depends on which side of the fence your standing on, but if you sell you may want to buy another. Just kinda worried its going to put parts prices through the roof as well as fixable cars. We all know as it is people with cars that need extreme dedication to bring back already think their car is worth thousands. Its going to be interesting.

Shelby GT 500 went to $175,000 this weekend

Chevelle SS with the special motor went over $100,000

65 or 66? 442 went like $27,000

makes 27,000 sound like a bargin for the 442 doesnt it.

I dont know if anyone has seen the new Barrett-Jackson program on SPEED channel but sorry, it appears to me that classic auto is making a move toward professional wrestling mentalility. The car hobby has met Hollywood.

[Matt Harwood]

I actually think those are the exceptions rather than the norm. The auctions are over-hyped, everyone is watching, and only guys with "stupid money" can afford to show up. Some have genuine interest, but that's no fun for the public to watch. The guys you're seeing are guys wanting to impress their buddies who are there with them, or get some time on TV, or both. Looking through the auction guide in this month's Hemmings, you can see that there were some real bargains that were never seen on TV at this year's Barrett-Jackson auction.

Don't get discouraged. The market isn't moving as radically as these shows make it appear.

[palbuick]

I tuned in just to catch the 2002 Park Ave Ultra, Beautiful looking car, from buick concept car collection, Auto Show special. Only 2300 miles, If I remember right it went for 18K.

The other was supe nice Riviera, a 1998 all Black, with special Wildcat emblems,on quarter panels and on dash. A one off car, that some lucky buyer purchased for 23K.

JIm Schilf

palbuick@aol.com

[BUICKX]

I guess no one saw the 72 STAGE 1 that sold for $31,000

[NTX5467]

I saw the B-J Phoenix auction on Speed Channel and was somewhat amazed at how high some vehicles went and how quickly. All of the customs and street rods had a storied history, it seems, that resulted in the higher prices for them. Then figure in the rarity of some of the vehicles too, either particular options or just plain low production too. Not to mention the outstanding "over restorations" of many of them that made many of them better than new.

I saw a part of the FL auction and it seemed the quality of many of those cars were what they called "Phoenix Quality". They also mentioned how much the sales volume ($$$$$$$$$) had increased in that auction since they started it a few years ago.

KEY POINT -- every time the financial situation of the banks not paying very much interest on CDs or whatever and the stock market is a mixed bag, those with money will put it somewhere that it'll work better for them. Cars are an easily done place to put it--easier than real estate and as long as the condition doesn't deteriorate, they typically don't depreciate that much (unless the market was going crazy and they paid a little too much, which is why careful buying is important) and if things get bad, you can always drive them a little (which they probably need anyway). I highly suspect the feeding frenzy for collector cars is starting to peak now, so it's time to sell also.

Bad thing is that many with similar, but not nearly so desireable models get the idea that their car is worth "gold" too, which usually isn't the case. There was a feeding frenzy in the early-middle 1990s too. Many of those spending the bucks are not really car people per se, but really investors of sorts.

The fun part of these auctions was when two people were bidding on a particular vehicle. The guy that bought the restored Power Wagon pickup looked like he was really glad to get it, but the other guy that was bidding against him was not nearly so excited about bidding, it seemed.

Those auctions have become more "events" or "destinations" rather than just a place to sell and buy vehicles. There were some decent buys in the "no reserve" vehicles, from what I could see.

Just remember, when interest rates are down, car auction prices will be up.

Enjoy!

NTX5467

[Buicksplus]

I went to my first B-J auction in Scottsdale in January. I thought the entire event was completely outrageous, not in any way related to the collector car hobby that I have enjoyed for over 30 years.

This is a venue where the more you spend, the more the crowd cheers and the frenzy builds. Remember when car collectors delighted in telling you how LITTLE they paid for this car or that? Not at B-J.

Most of the cars were grossly over-restored, over-accessoried and over-finished -- and not just the cars, but also the gas pumps, fancy tool boxes, and even those silly '57 Chevy rear end couches. The whole affair was like one giant automotive velvet painting -- just plain tacky as far as I'm concerned.

Personally, I think that many of the sales are phony. Your brother buys your Corvette for 100K from you, pays B-J their outrageous fees, and now you have a car that "sold" for 100K, completely documented on the Internet and even TV.

If these sales aren't phoney, I must say that fat cat tax cut must be working, because there sure is an enormous amount of cash out there!

I don't plan on attending another. I prefer to find my cars the dirty old fashioned way -- in junkyards, on the street, or from other collector friends.

[Guest imported_arbys]

Good for you , Buicksplus. The more that people stay away from these auctions and purchase "the old fashoned way", the better for the sport.We don't need the "investers", we need the hobbyist, and the prices will be more realistic.