Barrett-Jackson Lot #5005 - 1987 BUICK GNX #482

[87turbottype]

Not sure if any of you have seen, but #482 is going up for auction tomorrow (1/18/14) with no reserve at Barrett-Jackson Scottsdale 2014.

One of the lowest mileage GNXs with less than 11 original miles. 100% original condition, same as it left the factory 26 years ago. Only 547 units were built and they came with a special dash plaque with its number. This GNX is #482. The original Window Sticker has never been off. This GNX has never been washed. It has the original temporary tags, original invoice and purchase order. Bought new by the Miller Beer Brewing Company. Possibly the lowest mileage GNX in the world, 11 original miles. From the Michael Jenkins Collection.

http://www.barrett-jackson.com/application/onlinesubmission/lotdetails.aspx?ln=5005&aid=525

 

[BBcallaway]

I'll be watching. Hopefully it doesnt' sell during a commercial!

 

[Chuck Leeper]

I'll be watching. Hopefully it doesnt' sell during a commercial!

Or, they'll do like they did w/ the LS Chevelle resto. Didn't look as tho it got enuf stage time.
And this yr, the audience has to put up with the moron, Ralph Shaheen.........

 

[X Ray]

Watch the live streaming ...

 

[Topjimmy]

Lot #5005 Hammer price: $95,000

 

[Brian Harper]

With the consignment fees probably a fair price for 11 miles.

 

[dartguy340]

I just saw the sale live....I think they said it had 18.2 miles on it.
Somebody musta been driving it around the parking lot!
Who wouldn't want to own this car!! NICE.............
(The '69 COPO Camaro sold for $125,000)

 

[Ktbregal]

So what is the total with buyer fees etc. That's what Dennis said we had to be closest to.

Posted from the TurboBuick.Com mobile app

 

[carl defazio]

104,500.00 with buyers commission.

 

[gnxparts]

Nice !
Good to see Gnx still strong

 

[stage1gn]

The car had 10.2 miles on it when it crossed the block,as said hammered at $95k.For arguments sake,lets say the car was bought new for $45,$50 whatever the dealer markup was,it was held for 27 years without driving,I think it was expected to have a higher outcome for keeping it locked up for that long.To me,27 years of staring at it and not enjoying is/was not worth $50k investment it proved to be.
Also as one said with commission,$104,500 is what the buyer paid for it,but on the flip side take out the seller fee(8% = $7,600),so one can also have a take on it is that the seller actually got $87,400,then his/her travel fee(if they were there)the cost to transport the car there,etc.Could be final number they took in for the car is around $85k.Which means the car was kept as investment for 27 years for $35k ish.Would rather have driven it and enjoyed life,that is more to me than the $35k,ntm,if the car had actually accumulated 7,10,15k miles but was in real nice orig shape,still would pull,I don't know,$50,60k ?So at that,you still made some of yourinvestment,and got to use/enjoy it?
Is this a bad way to think ?

 

[stage1gn]

But also want to add,with it being Barett-Jackson,the limelight,more money in the the place,etc,I thought it was def going to break into the low six figures anyway.

 

[pmoore4321]

The car had 10.2 miles on it when it crossed the block,as said hammered at $95k.For arguments sake,lets say the car was bought new for $45,$50 whatever the dealer markup was,it was held for 27 years without driving,I think it was expected to have a higher outcome for keeping it locked up for that long.To me,27 years of staring at it and not enjoying is/was not worth $50k investment it proved to be.
Also as one said with commission,$104,500 is what the buyer paid for it,but on the flip side take out the seller fee(8% = $7,600),so one can also have a take on it is that the seller actually got $87,400,then his/her travel fee(if they were there)the cost to transport the car there,etc.Could be final number they took in for the car is around $85k.Which means the car was kept as investment for 27 years for $35k ish.Would rather have driven it and enjoyed life,that is more to me than the $35k,ntm,if the car had actually accumulated 7,10,15k miles but was in real nice orig shape,still would pull,I don't know,$50,60k ?So at that,you still made some of yourinvestment,and got to use/enjoy it?
Is this a bad way to think ?

It's not a bad way to think at all. It's reality. You can look at it anyway you want, but your numbers are right.

 

[Jan Larsson]

The car had 10.2 miles on it when it crossed the block,as said hammered at $95k.For arguments sake,lets say the car was bought new for $45,$50 whatever the dealer markup was,it was held for 27 years without driving,I think it was expected to have a higher outcome for keeping it locked up for that long.To me,27 years of staring at it and not enjoying is/was not worth $50k investment it proved to be.
Also as one said with commission,$104,500 is what the buyer paid for it,but on the flip side take out the seller fee(8% = $7,600),so one can also have a take on it is that the seller actually got $87,400,then his/her travel fee(if they were there)the cost to transport the car there,etc.Could be final number they took in for the car is around $85k.Which means the car was kept as investment for 27 years for $35k ish.Would rather have driven it and enjoyed life,that is more to me than the $35k,ntm,if the car had actually accumulated 7,10,15k miles but was in real nice orig shape,still would pull,I don't know,$50,60k ?So at that,you still made some of yourinvestment,and got to use/enjoy it?
Is this a bad way to think ?

It's not a bad way to think at all. It's reality. You can look at it anyway you want, but your numbers are right.

We had the same discussions about the TTAs put away as investment, and I'm glad there's so many of our cars (TTA,s GN's, GNX's) still around with very low miles on them for some to enjoy (looking at) and others to learn from and use as reference when restoring.

Anyway what we did then was to look at the buying price back in the day and the inflation over the years, there's a number of online tools to help calculate this ..

and just for fun I put the $45k in (back in 1987) and here's the result:

$45,000.00 in 1987 had the same buying power as $93,502.67 in 2013.
Annual inflation over this period was 2.85%.

And $50k ...

$50,000.00 in 1987 had the same buying power as $103,891.86 in 2013.
Annual inflation over this period was 2.85%.

So with cost of storage etc. over all these years makes it an interesting financial investment but all depends on how each person looks at it and what you like to get out of it.
Other cars of course would have a terrible loss over the same time period.

 

[alb84]

I looked at that GNX up close on the preview days. It was very nice. There were 3 GNs ant a light weight turbo t also. They all went for around18,500 and 23,000 from what I remember. Kinda sad. I remember 20 years ago they were valued around 20,000.

 

[stage1gn]

Given the numbers of the TTA (1,550),I think the expectations of the value of them was higher than what they are actually currently valued at per their rarity.Very surprised at the 677 mile TTA sold for less than the first one sold this week with 10k miles ?????

 

[pmoore4321]

We had the same discussions about the TTAs put away as investment, and I'm glad there's so many of our cars (TTA,s GN's, GNX's) still around with very low miles on them for some to enjoy (looking at) and others to learn from and use as reference when restoring.

Anyway what we did then was to look at the buying price back in the day and the inflation over the years, there's a number of online tools to help calculate this ..

and just for fun I put the $45k in (back in 1987) and here's the result:

$45,000.00 in 1987 had the same buying power as $93,502.67 in 2013.
Annual inflation over this period was 2.85%.

And $50k ...

$50,000.00 in 1987 had the same buying power as $103,891.86 in 2013.
Annual inflation over this period was 2.85%.

So with cost of storage etc. over all these years makes it an interesting financial investment but all depends on how each person looks at it and what you like to get out of it.
Other cars of course would have a terrible loss over the same time period.

Oh yeah...you start dialing in inflated dollars and interest rates back in the mid 80s and it's certainly a bad "investment".

 

[JamestownGNX]

That GNX was sold at Barrett jackson Palm beach auction in 2010 for a crazy 135,000 with auction fee's. You can look up all previous auction prices. That seller lost 45,000 in 3 years.

 

[kidsixpack]

Greet stuff guys! I remember all the dealer gouging that came with the GNX. The record paid for one back in the day was $92,500 IIRC
Looks like he better hold on a bit longer to recoop his money.
KID

 

[gnxparts]

Barret Jackson is the wrong way to judge a market , many cooperate people there overspend and over inflate the market
But from the collector Barrett prices are fine with me
The higher the better