Fargo man buys 2 million Mopar for a driver

Fargo man buys $2 million Mopar for a driver

Here is the article in our ND paper of a guy that paid over 2 million for a Hemi convertible and will drive it. I cant wait to see this guy next summer.

Real estate developer buys $2 million vehicle

By Dave Kolpack

The Forum - 09/24/2004


Bill Wiemann recently paid millions of dollars for a rare muscle car, but that doesn't prevent him -- or some of his friends -- from driving it.

The West Fargo real estate developer and construction company owner bought the 1971 Plymouth Barracuda convertible from an English car collector, reportedly for more than $2 million. Although the price raised some eyebrows, Wiemann isn't mothballing it in the garage.

"He'll drive it to work," said Roger Gibson, the Scott City, Mo., mechanic who restored the car. "I take my hat off to him; he's kind of a cowboy.

"He's having fun with his stuff," he said.

The car is known for its beefy "Hemi" engine that recently made a comeback in pickup trucks and sport utility vehicles. Of the nine "Hemi Cuda" convertibles manufactured in 1971, the last year of production , Wiemann has the last one made.

It's also the best one made, Gibson said.

"With the production numbers so low, you have guys who have them and don't want to sell them," Gibson said. "That's the key to cars being worth that kind of money."

Wiemann, 43, calls the car a "passion, not an investment" and said he has no plans to sell it, although he jokes about changing his cell phone number because of numerous calls from interested buyers.

"If I sell it," he said, shaking his head, "then I'm just a broker."

Some classic car owners fear that the market is being inflated by investors who are acting as brokers, said Lynn Mickelson, of Colfax.

"In talking with some investment bankers and financial people, the poor performance of the stock market over the last couple of years has had something to do with the prices," said Mickelson, who owns 15 classic cars. "People have pulled their money out of stock funds and started investing in muscle cars and motorcycles."

Wiemann's car is white with black billboards on the rear quarter panels that advertise Hemi. Gibson spent about 18 months restoring it, using parts that were never sold. "New old stock is what we call it," he said.

Gibson said the car was in outstanding shape when he received it, with no rust. It had been repainted once, but all the panels were original.

"It's almost a piece of Mopar history," Gibson said.

Muscle cars were driven out of production in the early 1970s by an energy crisis and skyrocketing insurance premiums. "The price of gas went up to a quarter a gallon," Wiemann said.

A native of Verona, Wiemann bought his first muscle car, a 1970 Dodge Charger, when he was 15. He owns several other classic cars, including the first Hemi Cuda convertible ever made, in 1970.

Wiemann said he wouldn't be surprised to put 4,000 miles on his newest purchase this year.

"I don't think you'll find many owners who have driven t heir cars even 100 miles," Gibson said.

"He's a car guy. Everybody says he's crazy, but let's face it, this stuff is about making you feel good."

Said Mickelson, "I'm glad he's got it and not me. I would be worried sick about it."

 

now that(to me) is what the hobbie is all about. No matter what its worth, i'd drive it. :3gears: :grin:

 

Good for him! Glad he'll be driving and enjoying it! If I had $2 milliond to crap away I know I'd have some cool toys and I'd play with them too.

 

I was at the Chrysler Classic`s last weekend and there was a guy driving one of the few 70 HemiCuda verts there. He was offered 1 million in cash for the car,he declined the offer saying that the car was made to be driven/enjoyed,not in someones collection sitting there.

 

True. They are meant to be driven. But there are cases where history should be preserved for future generations.
Regardless, offer me a million for a Hemi and I'll tak :laugh: e it in a heartbeat. Do you know how many of my dream cars I could buy with that much green?

 

Ed, I read that today too, and was trying to post a scan of the article, but couldn't reduce the PDF file at work with anything I had there. Yes, it will be cool to have a look at it sometime next summer, hopefully it will be in a couple shows.

 

This situation reminds me of people who fly old war birds in air shows. Every so often another Corsair or Mustang bites the dust.

Yeah, they were meant to fly, but.......................... o No:

 

Value is a funny thing

This is a what, one of fourteen car? They made 14 total, and maybe 7 survive or something like that? (I do very much beleive that the article is in error concerning the production numbers)

Well, take a look at the top of the page, next to the V8Buick Logo.

That's Brad Conley's GSX prototype. Not only is it a one of one (unique, irreplaceable) car, it's the prototype to boot- almost every prototype was destroyed back then, but not the GSX.

Brad's GSX prototype is incredibly rare. Cars don't get rarer, if you think of it. One of one built, ever.

But the GSX prototype isn't worth more money than the '71 HemiCuda convertible is. Because of demand.

Taken in that context, the 2 million dollar Mopar is artificially valuable. Convertibles were not popular choices for musclecars, hence the low numbers. They are desireable now, so the price goes up. Higher the price, the more collectible, the more 'valuable'.

In 1969, Pontiac made, I think, eight Trans Am convertibles. Are they worth 2 million today? I don't think so. But they are rarer than a '71 HemiCuda convertible...

 

If it were an untouched, original paint, etc., example, then I'd say yes, put it in a bubble.
But, in this situation, my hat is off to this guy, big time!!!!

 

I hope the prices keep going up, up , up! Up so high that it becomes feasible for the aftermarket companies to offer complete replica vehicles (much like the 1969 Camaro that is now available in a crate.) Then the market could get saturated again to the point where some of the used crate cars are quite affordable and can be driven on the street like a muscle car should be driven. :3gears:

Then the we can all race to the museums to check out the originals.

 

What? A crate Camaro? Where do I find one of these? I've heard of Shelby Cobras that are "continued production" but no other cars. Fine by me if someone wants to continue a good thing! You'll see a lot more of them on the street.

 

$2 million dollar driver

This car and owner are featured on the cover of this current "Mopar Action" Magazine. If I'm not mistaken I think it also said that he was the guy that paid 1 million last year for one of the other '71 Hemi Cuda convertibles.

Also, the 2 million was before the car was restored, but I guess another $150k for a restoration is nothing compared to the purchase price!

 

And I'm sh****g bricks about the nominal cost of having my rusty 71GS455 4spd Convert (1 of 18) restored that I originally bought for $3000? Versus a million dollars for a Cuda I can beat once it's done. Where's the justice?

Is his a manual, or automatic?

The owner of the muscle car place in Wauconda IL (I forget the name of the place right now) owns a convertible plum crazy hemi cuda in the front window of his showroom not for sale. #1 condition. I didn't realize it's a million dollar car. He does my appraisals and is a super guy.

Our last conversation was great during an appraisal on my 72GS. He's looking for the Buicks to go up big time, especially the matching numbers GSX Stage1s and Stage1 convertibles. Into the $70s range is where he thinks they should be at.

 

I too would drive it. All my cars I have ever or will own will be driven. I don't car what they are. cars are made to be driven.

Tim

 

I don't think the "CRATE CARS" ARE GOING TO HAVE ANY AFFECT on the price on orginals. For example look at the repro cobra's 427 compaired to the price of an orginal 427 cobra, not even close...I'm not talking about the continued production cobras built br shelby... they just keep going up...

 

Bravo!

It's nice to see someone driving a car like that, instead of making it some showroom car.

I bet some guy who was involved in the building, design, etc. of that car is smiling. And, thinking to himself, "atleast someone remembered why we built these cars."

Showroom cars are nice to look at, but that's it. I get a lot more fun out of driving them.

 

There's a large indoor car show this weekend, wonder if he'll have it there... I'll take pics if it is, and of anything else interesting. Thought about cleaning up the GS and entering, but doesn't look like it will happen this year.

 

Does anyone else here doubt the price supposedly paid for this car ? I have seen so much crap lately . There was a Hemi convert on ebay for 770,000.00 and then a 1,330,000.00 bid ( not meeting reserve) this car was NOM and needing resto . The owner and seller were in the same city until the big bid came in , then it was retracted the next day and back to 770,000.00 . Anyone that pays this much for a driver is crazy but anyone that believes that this guy actually paid that much may not understand how Mopar guys work the market. I personally believe that owner inflated prices on cars and parts are a driving force behind this craze . Mopars are no better or valuable than our Buicks but yet a comperable car is thousands more , even now millions more ? Take a breath and shake it off , and do not get caught up in the hype they are spewing . I guess if we wanted to we could inflate the prices we paid also . I think of all the cars that could be worth 2 million and the Hemi Cuda is not there . And if the story is true imagine how he will feel when my gramma in her 78 Impala slams into him at a stop light on his way to work ? I say save your millions and put it into Florida real estate it will be sold at a discount now , thats what I am going to do ( if I had millions that is ) Gotta keep playing the lottery !
Just my .02
JK

 

I agree with the last post, put your head in an ice bucket and then think about it. Something is only worth what someone is willing to pay for it. No more, no less... People just have too much money to burn, so they are willing to put down crazy money for anything that's hyped enough.