Hot Rods TRADITIONAL Hot Rods on BRING A TRAILER

Ex–Brock Yates Ford “Eliminator” Race Car
Sold for $266,184 on 5/1/23
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Nailhead-Powered 1931 Ford Model A Hot Rod
Sold for $40,000 on 4/16/23
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Ford 5-Window Coupe Hot Rod
Sold for $45,500 on 1/16/23
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Flathead-Powered 1927 Ford Roadster Hot Rod
Sold for $26,800 on 12/18/22​

 

Flathead-Powered Ford Roadster Hot Rod
Bid to $29,000 on 11/23/22 (Reserve Not Met) ​

 

Hemi-Powered 1940 Mercury Convertible 5-Speed
Bid to $65,000 on 4/4/23 (Reserve Not Met)​

 

Can someone answer a question for me, how are people affording these prices?

I have a good job with pretty good pay but at $22,000 to almost $40,000 I and most people I know would have to get a loan.

Are people financing these cars or are people in other parts of the country making way more money than those of us in Upstate NY?

 

A lot of cars on bring a trailer are selling to millionaires or folks with businesses they can purchase the car through. Also they have their own financing system they offer: https://bringatrailer.com/verified-checkout/

Should also point out that the average car guy isn't dropping 30k cash lately, cost of living and inflation has folks re-evaluating priorities, that's why I see a lot of the wealthy collectors buying multiple vehicles on BaT a month.

 

Note that only the primer black coupe you posted actually sold … the other two you posted didn’t sell (i.e., they failed to make reserve)

There have been some famous hot rods & street rods that sold for a lot less than one would suspect … e.g., “Tom’s Tub II” that was featured in the 1984 Van Halen “Hot For Teacher” video was sold on BaT (by the Petersen Museum) for just $27,000

 

That's my point "Just $27,000" $27,000 is a lot of money.

Who has and can just lay out $27,000 with no worries about paying for food, bills, or unforeseen expenses.

I was looking to order a brand new 3/4 ton truck Chevrolet and had save a good size down payment but due to an unforeseen expense half of that money is gone and like before it's all said and done all of it will be wiped out!

I am reminded last year at the Malta oval track swapmeet my dad talking to a guy about how people afford racing today and that the GM 602 create which has become a requirement in many classes has driven many people who would piece a good engine together with smart buying at swapmeet, trading labor/part with the machine shop.

Dad said to the guy "You can't barter with GM, they want $5,000 cash!"

The guys reply "You can't be completive with a stock 602, we just bought a couple of Killer Create 602s they're $15,000 (each)"

When my dad asked them how he paid form them, the guy hemmed and hawed and finally admitted he put it on the company credit card. (It was his business)

 

I would suspect some buyers are cashing in a nest egg &/or selling off a project or two, paying half/financing half, relocating from a hot real estate area to rural cheaper property, all possibilities if capital gains can be overcome.

 

'I would gladly pay the bid amount for either '32 FORD. Ron

 

I started an IRA mutual fund when I was 24, when I turned 59 1/2 I cashed it in and converted it into a 57 Tbird.
When I retired in 2021, I took a lump of my retirement and purchased the 29 roadster

I could never have afforded those purchases when I was working, (single income) raising 3 boys

 

"Are people financing these cars or are people in other parts of the country making way more money than those of us in Upstate NY?"

sometimes it isn't they are making more but after your living expenses people in other areas might have more leftover.

my cousin moved to N.Y. for a few years because of the pay but he moved back to wi. and even though he was making less a year here he had more leftover out of his checks because his living expenses are less. rent was a killer in N.Y. for him. he brought a house here, couldn't afford to in N.Y.

My step daughter moved back from N. J. with her boyfriend that grew up out there and he was reluctant at first because our wages were so much cheaper but after he got here he found out you didn't need to make as much. he couldn't believe how cheap car insurance was here and other things. couldn't afford a house in N.J. but he can here.

same with the neighbor mile down the road. Lived in Ca. for a long time and he couldn.t afford to build the house he wanted to. Moved back by the family here and was able to build his dream house here. Amazing how much cheaper things are in different areas and it adds up.

So it might not be we are making more, we just spend less on other things and we can afford toys.

 

Don't get me wrong on my last post above, some of these people could very well be living in credit card or some other debt but there are others out there that can afford to pay cash by their living style.

 

Spending money you don't have, based on possible future income is the American way.
Its the very reason most of the country is living on one weekly paycheck to the next without any kind of a savings account or safety net. Most are one mishap away from living on the street, but they have nice things as long as they can make that next monthly payment. We have been taught from an early age that what something costs is not important, as long as we can make the monthly payment, we can afford to buy it.

Few Americans can even grasp the concept of being debt free, let alone ever living it.

 

Being debt free, or anything for that matter, is a state of mind - if you believe in it you will do it …

 

According to the listing, and assuming the listing is correct, Toms Tub II is a fiberglass bodied car. Given that, I think the price paid is about right.

 

probably being bought by all the people who sold their house in California and moved to Idaho or somewhere else and bought a bigger house on a huge lot for half what they sold it for.

 

Success is achieved by doing the right thing, over a long period of time.
Failure is achieved by doing the wrong thing, over a long period of time.
Old guys used to say save your pennies, and the dollars will take care of themselves.
Out of menial jobs working any and all days/hours of the week, I was able to amass a nice
pile of net worth.
Then married a nurse ( not that they are ever over paid ) she made a lot weekly.
Anything comes down the pike in 30 years she's wanting it.
Gotta have a new car. Christmas everyday with Amazon at the door.
I'm a candidate for 'Potter's Field'
Either way I've had a great life in this here United States.
Seen and experienced more than most, just by not staying home.
Many decades, NO TV..... This computer used to be books books books.
Sorry to rant but the Pie in the sky can be had with a daily journey toward it.
I do apologize. Delete if neccessary

 

What other people do with their money has no effect on me, but it does amaze me what some people can piss away on over priced things.

 

Everyones situation is different, as is everyones appetite for debt and so is everyones appetite for wanting to own stuff. My old grandfather told me as a kid that debt was bad, and should only be "for a time".

I trained as an accountant, and we used to say that you cant measure a mans wealth by looking at his letterbox - some folk actually own their letterbox, and others, well the bank owns the letterbox and they pay interest to the bank and pretend its all theirs.

My recommendation is, where possible, get out of debt. Some can do that quite easily, and others cant. Having said that, I have missed out on some nice cars because I dont go into debt for cars.........Given my ability to build a car, I should have saved up and bought a finished one a long time ago

 

You are not wrong, but take that same $27,000 into a new car dealership these days and see how far it gets you. Not very.

I’m 57 years old, and been debt free much of my life, including the past 10 years. Putting myself through flight school was the only large debt I have ever taken on. I never had kids, never bought a new car. My house was a complete dump when I bought it. I spent a couple years fixing it up while I lived in it. I currently have two very fun and drivable Hot Rods. I put a ton of work into each of them, while spending almost nothing on paint and interior. I have always had a race car or hot rod since I was 14 (except the two years I was in collage, and my parents paid for none of this stuff.) Life choices are very important, and really add up over time.

 

Enjoying your thread! It's interesting to see what these rods are selling for and how they are equipped. Keep it up.

 

Funny timing on this thread. I'm not looking to buy right now so I don't shop BaT but rarely. A friend who I've known since grade school owns a small restaurant and really wants a 39/40 Ford coupe. His kids are through college and are all self-supported, and he is frugal. He can afford a hot rod in that price range but he's not actively shopping. I saw him yesterday and he knows of my 5 window affliction and said his buddy watched a 34 go on BaT earlier this week. Right then on my phone went to BaT and saw virtually every car you posted. Then I saw this today. Love it.

 

Thanks Todd, very interesting.

 

327-Powered 1930 Ford Model A Coupe Hot Rod
Sold for $41,000 on 7/5/24​

NOTE: Here's my snapshot of the car under construction in 2013:

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Picture of TOM'S TUB ll ?


I didn't leave old Fords,
Old Fords left me .........$$$$$

 

Definitely an Off Topic car for the HAMB . . . but here’s the link to the BaT auction:

Ford Phaeton Street Rod “Tom’s Tub II”
Sold for $27,000 on 8/31/23​

 

That car has to be worth the total sum of all the parts. If the buyer decided to take it apart and rebuild it to his liking would the "hobby" morn the loss of the car as it was built by Tom?