Mecum Anaheim Auction this weekend

OK V-8 Buick People: I have tracked those 63-7 Corvettes and I thought the prices were not too shabby if they really were sold like represented. There was nothing in the 30K range and with all the Tom Foolery going on at an auction it's sometimes hard to really gauge things. That burgundy 65 Riv GS was a no sale at 62K......says the auction house. That lime gold Riv for 27K wow! I wish I had a crystal ball. Here's a few theories I have.......

People lie when they register their cars so they pay considerably less money in sales tax.

People sell their car privately after it's on the ebay so they don't have to pay the fee.

People sell their car after the auction so they don't have to pay the auction fee.

People that play the auction game have very big and delicate egos and getting truthful information out of them can be difficult.

So....it's fun to watch, more fun to guess and dream and probably wise not to rely on most of the information provided. Mitch

 

hey sam the damage on your ride was it the hood from what i can remember it was dented....bummer also sorry about the spelling on the other post from earlier on my pops was driving and i was entering info on my phone but i think most of you can figure it out....

 

We are, so please don't continue or this thread will get locked.

 

Thanks for that. I just don't understand why people who have been board members for years and know the rules keep trying to slip in this stuff. I for one joined to discuss Buicks, not politics!

 

I apologize for fanning the flames rather than just asking for it to be stopped.

You are right, this is for car nuts to help each other and I used my complaint to do the exact thing I was complaining about.

Once again, I'm sorry.

 

You've been here 10 years, you should know better.

That was for a RAIV, 4 speed Judge convertible, 1 of 11 built. I restored one of the 6 automatic cars 15 years ago, the Orbit Orange car, and recently a guy has been feverishly trying to buy it from the owner, the guy I restored it for. He has offered him $800,000 for it..............twice. He was turned down both times.

 

OK V-8 Buick People: Getting back to the Mecum Auction......I personally like them better because Dana is a good old school used car guy. He's heck-a straight, likes to deal and although an excellent promoter, he's, again, a used car man first and foremost. He has to deal with all sorts of people and he's done it well.

The 800K for the GTO will always dwarf the cars that we like on the forum because it's so much money and so much drama. Personally, I dislike hearing about all that. I would much rather hear an honest depiction of something like someone selling their 65 Skylark on Craig's List. Actually, there could be a few similar stories regarding these auction Buicks listed in the first thread of this topic. That's really the meat and potatoes.

One other thing. The old car market is similar to the real estate market as far as trends go. In real estate, the market, while not nearly at peak levels of a few years ago, has perked up considerably. The collector car market seems to be following a similar pattern. Can anybody give an example of a car that recently traded on the market they are familiar with? Mitch

 

Well we know the perk in the real estate market is the foreclosed and short sales. I think around the first of the year Fed kick back money comes to an end for the banks unless they extend it. The real estate market will take a big hit on sales if the Fed does not renew.


So if the car market is following the real estate market we should be seeing discounted collect cars which I think is happing. You will always have some cars that stand above the rest but they few and far in between.




One other thing. The old car market is similar to the real estate market as far as trends go. In real estate, the market, while not nearly at peak levels of a few years ago, has perked up considerably. The collector car market seems to be following a similar pattern. Can anybody give an example of a car that recently traded on the market they are familiar with? Mitch[/QUOTE]

 

Sorry Bill i get fired up about the topic. Car is all there and pretty cool to see its survived all these years.

I think GS will be for sale in more quantities in the next few years as quite a few diehard and original GS guys i know are getting older and want to thin their heard or just simply due to health or no time or losing interest or burned out. Buicks just never do well at auctions and I think Dana could have done better promotion on certain Buicks for example J.K.s GS should have been all over the net and tv etc.

Public has been and always will be ocd about the SS and GTOs, 442s and GS to me are the banker hot rod and nobody knows about them. Thats probably why i like them so much.:TU:

Market is tight now and with money not accruing in banks more people are looking into other ways to invest their money. Collector cars are typically stable but prices are down now. With Anaheim the old iron and exotics which usually take a huge hit on value were doing strong. Be interested to see how economy will dictate the auctions. Guys with money will always spend as they see fit but the average guy for a fun car is now looking at upwards at 25k for a nice car. 10k or less now is a driver or needs work. the 70s iron is picking up too. Time will tell.

Now with Sandy used car prices will blow up an already small market. China will be taking a huge load of scrap incoming that is for sure.

 

I've seen the old car market fluctuate up and down for the past 35 years or so that I have watched it. Everytime, so far anyway, when it comes back it comes back stronger. Given the state of the economy, this time might be different, only time will tell. As always, the more fortunate take advantage of the downturns by buying cars from the less fortunate who have to sell to survive. While I feel bad for those less fortunate, I do not fault the more fortunate for buying when they can get the best deals. I think we would all do the same thing in their shoes. Some seem to think it's a bad thing that the prices of some of these rare, low production cars have gone out of reach to most of us. For me, I'm not so sure. It's true that they have disappeared from the streets but the guys who can now afford them at least keep them from harm and for the most part preserve them and show them at national shows so we can all enjoy them. Shows like the recent MCACN show in Chicago and the Supercar Reunion shows. I admire them for that. These guys spent the big money to save them rather than have them end up sitting behind someone's garage who is "going to fix it up someday".

Anyway, here are a few shots of the car that I did years ago. It sits in it's own little showroom until it comes out for shows, but for the record, I did take the opportunity to smoke the tires across the guy's parking lot once :grin:

 

was it just me or did it seem that very few cars were sold?

 

Nice looking Judge :TU:

 

OK V-8 Buick People: I must remind everybody involved as an end user in the old car hobby.......

I often go to Wendy's restaurant. I order a chicken sandwich, drink and fries. I pay the cashier about $3. sit down, eat, enjoy my little meal and walk out with a full tummy and a smile on my face. The money is gone. Maybe even like a cruise on a ship. It's no different owning a collector car. You buy it, spend some dough on it and enjoy it (however you enjoy it). If you sell it anything left over is gravy. People think collector cars are investments. That's crazy.

You buy it, spend some dough on it and enjoy it (however you enjoy it). If you sell it anything leftover is gravy. Wait a minute. Didn't I just say that? Mitch

 

OK Second Generation: In response to your post and in keeping on topic, there are 4 basic American economies

1. "Legit" where an individual is employed or, is self employed, follows the required protocol and pays taxes to government.

2. "Government subsidized" where people receive an income from the government.

3. "Illegal drug" where people are involved in the illegal buy sell trade and use of illegal drugs

4. "Subterranean" where people hustle and don't pay taxes.

The Subterranean economy affects the old cars quite a bit. Many people are hustling old cars under the radar and are basically are unprofessional. This translates into several factors which are very misleading. When they market their goods they more than not often really have no idea of the market price. "Lo ballers" is a term created from unprofessional sellers not really knowing market value. There are countless ads implying that the item for sale is a good price. There are also as many adds (from legit sellers too) with the price so incredibly inflated that readers of these adds think their similar item is worth a similar amount. Many times it's the case of the blind leading the blind.

The economy is very fragile now and there isn't a lot of money out there to be dumped into old cars. I believe that if the people who check out old car adds REALLY KNEW what cars were selling for they would be much more realistic in respect to their expectations of the value of their vehicles. Still, there are many sellers who can afford to hold on and keep their asking price up in the clouds. I remember having a conversation with a swap meet vendor who didn't seem to sell very much. I asked him what was up and he said that he had a retirement income so he didn't have to rely on making sales so he could afford to ask $50 for a $5 item. Many car sellers are also in a position to where they really don't have to sell and this adds to the price confusion. Mitch