TR's on Barrett Jackson
- Thread starter 2QUIK6
- Start date
strikeeagle
New Member
- Joined
- Jun 6, 2001
One thing I found very interesting last night:
Of course, to a man, the announcers relish picking apart cars that are incorrectly restored, let alone have even the slightest mods. Well, last night an unrestored but apparently nice Chevelle SS came up for auction, and they were singing its praises.
That got to me thinking about how best to make money at this game. Because restoring cars costs big money, and the quality of the restoration always comes into question. So, better to have the original weatherstripping falling off your Chevelle than dig up NOS weatherstripping, pay an arm and a leg for it, then have it installed by a restorer for an arm and a leg, and meanwhile he creates a hidden defect by breaking one of the little plastic retainers that hold it in place, OMG!
Which further got me to wondering how guys decide whether a restoration can possibly pay for itself. For some cars it may be obvious, but for many others I suppose it isn't. There's no doubt that in many cases the guy who shells out for the restoration takes a bath. Anyway, the original paint on my 87 GN is pretty badly checked, and I'm loving it.
Of course, to a man, the announcers relish picking apart cars that are incorrectly restored, let alone have even the slightest mods. Well, last night an unrestored but apparently nice Chevelle SS came up for auction, and they were singing its praises.
That got to me thinking about how best to make money at this game. Because restoring cars costs big money, and the quality of the restoration always comes into question. So, better to have the original weatherstripping falling off your Chevelle than dig up NOS weatherstripping, pay an arm and a leg for it, then have it installed by a restorer for an arm and a leg, and meanwhile he creates a hidden defect by breaking one of the little plastic retainers that hold it in place, OMG!
Which further got me to wondering how guys decide whether a restoration can possibly pay for itself. For some cars it may be obvious, but for many others I suppose it isn't. There's no doubt that in many cases the guy who shells out for the restoration takes a bath. Anyway, the original paint on my 87 GN is pretty badly checked, and I'm loving it.
When did it sell? I would like to catch that auction if its on again tonight.
Yes it would be nice to own a GN that is worth 50K, the key word here is own. But what about the guy that doesn't already own one and wants to buy one and has to pay 50K for one instead of 15-20K. BJ does screw it up for the regular guy.
I was watching it last night and cars were coming across the block and selling for 30K to 60K and I told my wife look honey how cheap these cars are selling for and I caught myself man what the hell am I thinking that is a lot of money for a car. I guess when you see them go for 6-7 figures 30K looks cheap.
I say leave the TR's alone we don't need the big prices! I know I don't.
I was watching it last night and cars were coming across the block and selling for 30K to 60K and I told my wife look honey how cheap these cars are selling for and I caught myself man what the hell am I thinking that is a lot of money for a car. I guess when you see them go for 6-7 figures 30K looks cheap.
I say leave the TR's alone we don't need the big prices! I know I don't.
strikeeagle
New Member
- Joined
- Jun 6, 2001
I don't know. That's analogous to hoping your home doesn't appreciate because, hell, if it did, some "regular guy" might not be able to afford it. It makes no sense?
In fact, even at $30K to $60K, given the cost of restoration, some owners lost money on those cars.
I guess I should just go out and buy that 06 GTO for $25K? Hell, it's cheap in the grand scheme of things.
I love my house and don't want to move either.
Guess what, that's why our home prices and our TR prices are going up.
We just have to do something about the property taxes, so we don't have to sell all of our cars to pay them.
Looks like another WE4 sold for 34k.
TexasT
Texas, Where are you from
- Joined
- Sep 10, 2002
I don't think it was single handedly ruined by barret-jackson. As with all the generations, as the income and wealth level rises, the collectibles from their era rise in value(or at least price). It is simple supply and demand. As the supply drops and the ability to pay ridiculous amounts rises, some thing's values are skewed.
As a "car" 95% of Muscle cars are worth about $10K, Max.
Meaning you could buy a used, modern car off E-bay that will outperform a classic Muscle cars in ALL areas of performance for about $10K (and have power windows and A/C).
Pay anything over $10K for a Muscle car (unless it was SUPER rare, 1 of 50, etc, or a Supercar) and you are paying for "sentimental value" and not for a car.
People who are buying muscle cars are doing so for the "look" or the "style" and not for the "performance", which aint all that great by today's standards.
We sold most of our classic Muscle cars, because I like to drive cars fast, and Muscle cars (especially stock muscle cars) pretty much suck to drive fast.
The price going up on classic muscle cars is a good thing. It makes more restoration parts available and it means you will get back some of the effort you put into restoring one when you sell it, because 10 years ago, you'd get 1/2 what you had in a car.
If T/R prices go up, people will be able to justify fixing their rusted cars or will feel better about building a new motor for their car. If you buy a T/R, even at a high price, you'll get your money back out of it when you sell it.
Sure everyone wishes they had a garage full of classic Muscle cars they paid $6K eack for. We had that 5 years ago. When people start throwing money at you, you say to yourself, is this car really worth X, when a Viper/Z06 Corvette, etc costs <X? and you take their money. Cha Ching.
Meaning you could buy a used, modern car off E-bay that will outperform a classic Muscle cars in ALL areas of performance for about $10K (and have power windows and A/C).
Pay anything over $10K for a Muscle car (unless it was SUPER rare, 1 of 50, etc, or a Supercar) and you are paying for "sentimental value" and not for a car.
People who are buying muscle cars are doing so for the "look" or the "style" and not for the "performance", which aint all that great by today's standards.
We sold most of our classic Muscle cars, because I like to drive cars fast, and Muscle cars (especially stock muscle cars) pretty much suck to drive fast.
The price going up on classic muscle cars is a good thing. It makes more restoration parts available and it means you will get back some of the effort you put into restoring one when you sell it, because 10 years ago, you'd get 1/2 what you had in a car.
If T/R prices go up, people will be able to justify fixing their rusted cars or will feel better about building a new motor for their car. If you buy a T/R, even at a high price, you'll get your money back out of it when you sell it.
Sure everyone wishes they had a garage full of classic Muscle cars they paid $6K eack for. We had that 5 years ago. When people start throwing money at you, you say to yourself, is this car really worth X, when a Viper/Z06 Corvette, etc costs <X? and you take their money. Cha Ching.
Talk about taking a beating. They paid $34K for it at last years Palm Beach auction. Transport it from Florida to Arizona. Tried selling on on Ebay 4 times, enter it into this years Scottsdale auction, paying $1000 for placement and another 8% of the selling price.
And they did all that and didn't bother spending an hour and $500 to replace the bumper fillers...they deserved to take a beating...not to mention they paid too much in the first placeTalk about taking a beating. They paid $34K for it at last years Palm Beach auction. Transport it from Florida to Arizona. Tried selling on on Ebay 4 times, enter it into this years Scottsdale auction, paying $1000 for placement and another 8% of the selling price.