Buick GNX #475 at Barrett Jackson: How much will it sell for?

[theMonch]

So I guess we just deduct $2 per mile and arrive at a fair price. A 40000 mile car is obviously worthless. I was born at night...but not last night. JMO back at ya. No hard feelings.

Exactly! I'll be up to pick up your 40,000 miler for $20,000! See you Tuesday!

I think you were missing the point. All I was saying is that anyone selling their low miles GNX right now is going to have a hard time getting those ridiculous asking prices of 90-100k. It is no longer spring 2006, the sooner people realize it, the better everyone will be. If you can barely get those numbers at a place like BJ, where the pricing structure is way tilted, then good luck doing so in the real world.

If you watched any of the BJ on TV, you would have noticed that the only sector that suffered with the economy the way it is was the exorbitantly priced market. The Yenkos, and the COPOS's, and such. If only I had a dime everytime that greedy idiot Craig Jackson said "Come on guys, this is way below the money for a car like this."

I understand your position, you apparently own at least one GNX judging from your username. Of course you don't want to hear that it isn't worth as much as it was two years ago.

I will repeat what I said in my earlier post, I have never heard of anyone purchasing one for over the 60-70k price range, and all of those that are priced above that, are sitting and they will continue to sit IMO. The best thing that the seller of this car was to bring it to BJ, he would have never gotten the 75K-ish that he did without doing so with the re-paint. Especially, since the car is most likely bu******. Explain to me how a car that has never seen the road and only has 267 miles has an undercarraige like that, and needed a re-paint? It doesn't happen. Anyone that would have had the foresight to put the car away, would have done so properly. I think the car was probably rigged back from a few thousand miles.

 

[GNXcess]

I will repeat what I said in my earlier post, I have never heard of anyone purchasing one for over the 60-70k price range, and all of those that are priced above that, are sitting and they will continue to sit IMO.

The car, a very weak example by the way, sold for $86K.

The best thing that the seller of this car was to bring it to BJ, he would have never gotten the 75K-ish that he did without doing so with the re-paint.

Again, the car hammered at $86,000 (not 75K-ish). The buyer paid $94,600 and the seller walked away with over $79,000 net. That's "well sold" in my book.

Explain to me how a car that has never seen the road and only has 267 miles has an undercarraige like that, and needed a re-paint? It doesn't happen. Anyone that would have had the foresight to put the car away, would have done so properly. I think the car was probably rigged back from a few thousand miles.

Agree totally with you. I won't speculate on the mileage issue, but as I said in the other thread this was a very weak showing for an under 300 mile X. Antenna inoperative, undercarriage shows evidence of poor / moist storage manifested in surface rust-- and a good amount of it too. Engine bay unimpressive. Not a bubble car by any stretch of the imagination.

Combine these issues with the repaint and I again say "well-sold." Could easily be brought up to impeccable condition, but with under 300 miles, why should you possibly have to?

So again-- generally speaking-- strong prices for strong marques. No, certainly not 2006 levels, but this X brought "all the money" when you consider its condition.

Just my thoughts.

 

[theMonch]

The car, a very weak example by the way, sold for $86K. Yes it sold for hammered for 86k in La-La land of BJ auction.



Again, the car hammered at $86,000 (not 75K-ish). The buyer paid $94,600 and the seller walked away with over $79,000 net. That's "well sold" in my book.

8$6,000 - 10% consignment fee of $8,600 = $77,400 (AKA 75-ish) This is what seller walks away with. $77,400. That is not considering transporatation, flights, hotels, etc.

 

[GNXcess]

8$6,000 - 10% consignment fee of $8,600 = $77,400 (AKA 75-ish) This is what seller walks away with. $77,400. That is not considering transporatation, flights, hotels, etc.

Please check your facts. The buyer pays 10%, the seller pays 8%.

For an $86K hammer, the buyer pays $94,600 and the seller walks away with over $79,000 net ($79,120 to be exact). Now if we're going into the weeds of speculation (i.e. red herrings) of hotel and ancillary expenses, maybe the seller used airline miles to get there, had a friend in the transport business who owed him bigtime cause the seller introduced the driver to a hot girlfriend, and the seller stayed with his retired folks in Scottsdale for free and deducted the car rental as a business expense... :biggrin:

My original numbers stand and that's still "well sold" in my book. We agree it was a poor example, though...

 

[kna4977]

Please check your facts. The buyer pays 10%, the seller pays 8%.

My original numbers stand and that's still "well sold" in my book. We agree it was a poor example, though...

I thought it was 10% on both ends. Since the seller only paid 8% then this was well sold for what it was and the seller ended up getting basically what they wanted for the car in the end. Just took a couple of years.

 

[GNBRETT]

I'd walk as soon as I saw that it was repainted. they are only original paint once

I don't know about that. Thousands of cars sold at BJ have been repainted and a hell of a lot more desirable and rare ones then a GNX. Look at all the Hemi Cuda's and Challenger's that we restored that went for well over $100k and some over $200k.

Any of those professional restoration shops who do high dollar cars (Ferrari, Aston Martin, Shelby's, etc...) all strip the cars down and repaint them.

The original paint is sh!t. If it was done correctly I would much rather own a professionally repainted GNX then that crappy original paint that was the same on the GN back then.

Even a modern day crappy Macco paint job has better quality paint then the paint GM used back then.

 

[Nick Micale]

Let me just add a few comments since I was there and closely examined the GNX.

First, many collectable and special interest cars have been repainted. These are jobs that range from $10K and much higher, and are done for a good reason.

A 20+ year old collectable car with less than 300 miles should NOT need a complete paint job, especially if it sells for almost 6 figures. I have seen local GN's with both original paint and re-paints with better paint than GNX 475.

When I purchased my GN in late 1987, the paint was VERY good like most of the late builds. This GNX was a late build and should have been, at the every least, a good paint job.

When asked about the repaint and the owner becomes beligerent, this leaves a very sour taste to someone ready to spend mega-bucks on the car.

Add in other items like power antenna not working and stuck in an open position, moldings loose, rubber painted, the "3.8 S F I" emblems missing on the hood, and a few other small details not attended to, and you do not have a quality, top line example.

Throw in the excitement and competition of the auction atmosphere, some people find it hard to stop their bidding. I was not writing the check, but at $80K, it was not a good buy in my opinion.

Since then, we have been contacted by 2 other offers to purchase a GNX for less than no. 475.

Also, I am not sure, but local tax on the purchase price may apply? Private party sales in Arizona are NOT taxed, but dealer sales are not exempt.

Anyway, I sure enjoyed the "near miss" experience" on the stage, and fully enjoyed the multitude of really neat "vehicles" of all kinds!

 

[A2000RICH]

Let me just add a few comments since I was there and closely examined the GNX.

First, many collectable and special interest cars have been repainted. These are jobs that range from $10K and much higher, and are done for a good reason.

A 20+ year old collectable car with less than 300 miles should NOT need a complete paint job, especially if it sells for almost 6 figures. I have seen local GN's with both original paint and re-paints with better paint than GNX 475.

When I purchased my GN in late 1987, the paint was VERY good like most of the late builds. This GNX was a late build and should have been, at the every least, a good paint job.

When asked about the repaint and the owner becomes beligerent, this leaves a very sour taste to someone ready to spend mega-bucks on the car.

Add in other items like power antenna not working and stuck in an open position, moldings loose, rubber painted, the "3.8 S F I" emblems missing on the hood, and a few other small details not attended to, and you do not have a quality, top line example.

Throw in the excitement and competition of the auction atmosphere, some people find it hard to stop their bidding. I was not writing the check, but at $80K, it was not a good buy in my opinion.

Since then, we have been contacted by 2 other offers to purchase a GNX for less than no. 475.

Also, I am not sure, but local tax on the purchase price may apply? Private party sales in Arizona are NOT taxed, but dealer sales are not exempt.

Anyway, I sure enjoyed the "near miss" experience" on the stage, and fully enjoyed the multitude of really neat "vehicles" of all kinds!

nick------GNX's don't have 3.8 sfi on the hoods-------i agree that a new car should not be repainted but in some cases to some buyers it really doesn't devalue things-------i have several GNX's and the one I value the most (and has the highest appraised value) is a repaint--------i have one with only 5 miles on it that is "still in the wrapper" with original paint as good as new-------but another one i have was the personal car of Mr Heinz Prechter who was the owner of ASC-------when it was originally run through ASC and converted to a GNX he had it diverted to the custom paint dept at ASC for no other reason than that he could-------it has an incredible paint job that was valued at 20k in 1987 dollars--------i paid 91k at auction and am very happy with the price i paid-------to me it is a one of a kind GNX with a great pedigree-------the real value of anything is always what a valid buyer is willing to pay..............RC

 

[Grumpy]

I don't know about that. Thousands of cars sold at BJ have been repainted and a hell of a lot more desirable and rare ones then a GNX. Look at all the Hemi Cuda's and Challenger's that we restored that went for well over $100k and some over $200k.

Any of those professional restoration shops who do high dollar cars (Ferrari, Aston Martin, Shelby's, etc...) all strip the cars down and repaint them.

The original paint is sh!t. If it was done correctly I would much rather own a professionally repainted GNX then that crappy original paint that was the same on the GN back then.

Even a modern day crappy Macco paint job has better quality paint then the paint GM used back then.

well this is a 300 mile car. GNX paint sucks ?? hell ya !!!! BUT thats the way they came!! In a classic car market some would consider the paint "over restored". Like I said the car is original once. I wouldn't have bought it BUT there is an ass for every seat. A month ago an original 289 Cobra came up for sale. original car that hadn't been "restored" Brought in $600k+ and the guy is leaving the car the way it is.. a "survivor" ... bottom line ANY car is worth whatever someone wants to pay. it their $$$ to do whatever they want.

 

[hiballin]

well this is a 300 mile car. GNX paint sucks ?? hell ya !!!! BUT thats the way they came!! In a classic car market some would consider the paint "over restored".

Amen brother!

 

[TurboRegal84]

One must remember all 'old cars' develop some patina....our cars were built 20 years ago. Some collectors might want a car that looks 100% new...others prefer the 'original' cars with some flaws.

Buying a car like this from a dealer is tough. Often dealers do not have backround history or personal experience with the car. They look at the car as a money maker and lack the passion that the car represents.