Event Coverage Anybody watching Barret Jackson?

I usually catch some of these auctions on television and I've noticed the prices are pretty low on many of these cars and attendance is pretty low. They do take online bids also so there might be more interest than it appears. Other auctions have been similar. Looks like you can buy a car cheaper than it costs to build. They're selling several vehicles from Tammy Allen's collection. She has been a big buyer in past years but is now selling a lot of cars. Her dad was involved in some oil business and was sentenced to some time in jail for tax violations. She had a museum but closed it last year and is selling everything.

I've noticed on Fast and Loud that Richard Rawlings auctioned several cars that he lost quite a bit of money on.

Is the market for these cars dying with the generation or is the market just being flooded?

 

That's been a hot topic of conversation at a lot of the events I have been at lately.

 

Engine man: I noticed the same thing about Richard Rollins taking a hit recently on his cars. And the prices on B-J in the early hours of the sale seem generally seem reasonable to a tight-wad like myself. It gives us die hards hope that we can finally get the car we have lusted over for the past decade(s).

 

Looks like the buyers of most of the cars are older too. They might be for sale again in a few years.

 

How about door #3. We are living in a manipulated economy that can no longer be artificially inflated. The days of funny money and fake sunshine are numbered.


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hell yes, that too.

 

Watch out ,the last time I posted about BarrettJackson prices a Moderator accused me of starting drama and deleted my post.

 

Hey lets face it, the younger crowd is not interested in what we are. Even if they are, they can't afford the inflated prices most sellers are asking. Hell I can't afford what they want for some of these cars. Doesn't seem like anybody is doing project cars either. Looks like you can buy a finished car cheaper then you can build it. Swap meets are becoming a waste of time and money to set up at, so who knows where this sport is headed.

 

In answer to your original question : No.

 

all speculation on value & cause & what tomorrow will bring - enjoy the ride while you can

 

I think it is just a market correction. Like was said, lots of new retirees with a big bank account wanted new toys there for several years, driving prices up. Now, some of them are cashing in, others passing away and heirs are selling, there might be a glut of some of the more popular cars on the market. I watched a few minutes of a Mecum auction the other day, nice mid 60's and early 70's cars were selling around 10 grand, some even lower. Of course the highly optioned and low production models were still bringing top dollar, but there were plenty of entry level cars a person could enjoy.

I've never taken the big auction prices to mean a lot in the real world anyway. The big players with money to spend will spend it to get what they want, regardless. What irks me is the guy with the rusted out pos that wants the big price for it because he saw one the same model sell at an auction for mega bucks.

 

Walked around there today, still saw many cars that seemed overpriced, yet sold.

 

Now maybe some of these folks using BJ or Mecum crazy auction prices to jack up the prices of their rust buckets to "diamond in the rough" status will get a dose of that "correction", too!

That being said, I'm probably in the younger end around here, being 37. I spent more on my jalopy A than I'd get, but I knew that going in to the project. It's become a family thing, and we've made lots of great memories with it!


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Saturday afternoon will not be like Thursday, never is. For us low buck guys I wish they would use the under camera on every car, boy would that be a surprise for the folks. Having a frame off car bought that way and I'm glad but a lot of those cars and Mecums are cosmetic with great paint but shaky underneath. God knows how much bondo is on them. I'm sure you've seen the same Richard Rollins show where they think the body is good and it turns out junk. I go to Mecum every November in Anahim to look and drink a few brews. I'm always glad I have what I have.

 

"Lucky is the man who goes places like these,
and is happy with the car he drove, and can jingle the keys "

 

like was said....it's an adjustment....before the big crash....

 

And crash it will

 

Streetrod prices have already hit the skids badly. Older guys no longer want them and kids can't afford them. The things that have the most market value right now is mid fifties to mid sixties cars. The last five cars I've sold were of that vintage. They were all nice cars and sold quickly.
I spoke to someone recently whose been in a large club for forty years. He said most of his fellow club members are trying to get out of streetrods and into fifties and sixties cars because those are the cars they grew up with.
There is no doubt you can buy cheaper then build. The car in my avatar a recently completed nut and bolt frame off restoration with all the bells and whistles has about double into it then I'd sell it for. Just a sign of the times.

Gary

 

Bombshell Betty sold for $33,000.....pretty much the bargain of the day.

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Not sure what you mean, I think the auction prices on the sold cars are pretty well real world, especially at Barrett since they are a no reserve auction.
I've been selling at both B-J and Mecum now for the last 5 years and study the trends very closely. Yes. I agree, there has been a market adjustment in the last couple years. The super big money it seemed everything was selling for a few years back was weird, it's like it got trendy for rich guys to go and buy cars and get seen on TV doing it but now that trend seemed to of passed. Rare and exceptional cars are still bringing big money (always have, always will) but the everyday cars have gotten more realistic for sure. I do know it's much tougher to build something, take it to auction and turn a profit today then it was 5 years ago, really had to step up my game and build higher end showy stuff, no way to make it on "driver" quality cars like I did when I started doing auctions. It's gotten to where I question my sanity and I might stop doing it. Overall, this market adjustment I feel is better for the hobby, I think it will bring it back to where even us poor folks can afford to play, buy a decent car for a reasonable price and the big players can still fight and pay for the big dollar stuff that we only dreamed about anyway like it's always been.
I did think this auction was a bit soft but there was a few surprises in Vegas, stuff selling for much more then I would expect (like Edsels, really?). Wish I could find that crystal ball that tells you what's going to be hot next year, seems there is always something, few years ago it was stock 50's pick ups, then VW buses followed by early Broncos and Toyota FJs. What will be next?

 

Really? I was surprised it brought that much, cool car, yes, and Jeff did wonders with it but not much market for Bonneville race cars. Very limited buyer pool.

 

I have a Bonneville Gas/Fuel roadster, it's held and still does hold records and I guarrentee you it is not worth $33K to anyone but me. I also own a 1940 Chevrolet that also held many records, it was a Gas Coupe and is destined for the street by my son. The 1975, 76, and 77 Bonneville inspection stickers will always stay on the passenger front window. I was shocked the Buick brought that kind of $$$. Competition Coupe is very limited class car and I doubt it could be returned to the street.

 

I think that the main interest now for folks under 55 or so is correct muscle cars so much so that they have become a commodity of sorts. Like all commodities their prices and interest will rise and fall. At age 48 i can tell you that I'm just about one of the youngest guys at most of the hot rod,street rod shows here on the east coast and honestly i don't get it,how many Novas and mustangs can someone look at before they say "been there ,done that".Or worse yet why spend a saturday morning looking at 20 new corvettes with air brushed engine covers.

 

That's what I'm saying, the guys with the big bucks set the prices on some cars that should have sold for much less, and the prices on the less desirable stuff tried to match it, knocking a lot of little guys out of the market. I agree on the rare and exceptional being worth whatever it sells for, there has always been one offs and limited production models that bring big bucks and rightly so. But just because a big block Chevelle lets say rolls through, it's not worth $100,000 when there are still many of them around, unless it happens to be an extremely low mileage original. The average guy might pay $15,000-$20,000, but when the prices get inflated, the average guy is shut out. The average guy is not looking to buy an original GT40 in as raced condition, he's looking for something like the big block Chevelle he had years ago or wanted but could never afford, and when the prices get super high like they were, the little guys walk, and everybody suffers. That's why I say auction prices aren't real world prices, they are driven by guys with money. How many times have you sold something on a classified ad and somebody paid you more than you were asking? To me, that's the real market, not the auctions.

 

It's all a cycle...What's hot now ,won't be soon.Just build what you love,and don't fall for the Trick of the Month club.It will come back....

 

Planning on Scottsdale's auction 2017, not buying anything, just for the car show deal, and then I can say, Been There, Done That ! IMO, deals can be had until Saturday when the bucks up guys show up, if you have a car for sale, then you hope like hell you get 2/3 of these guys bidding to see who can pee the highest and if you're lucky they will pay stupid money for it. The downfall of BJ IMO, is now everybody thinks their $hitbox is a BJ car and that rusty POS is worth gold, on one hand,. Good for the Hobby and on other Bad for our Hobby. I enjoy the show, cars, info, back stories, turn volume off (watch captions) during bidding as the noise, screeming annoy me greatly.

 

Just sold a car a month ago and everybody was saying why so cheap or that seems like a heck of a deal. Funny how it still took over a year to sell it and I came down a bit to make it sell. I'd say the market is 30-40% down from where it was 5 years ago. It's one thing to be optimistic and a whole other thing to be realistic. Glad I bought most of my stuff decades ago or 2008 when things bottomed out. At least that way I won't take a beating selling them.

 

I got home from work last night, did a little channel surfing and ended up on B/J auction. Watched just one auction. It was a blue 57 Chevy convertible. Two bidders and ended up going for $110,000.
I wouldn't use Richard Rawlins and Assmonkey Garage as a barometer of the old car market.

 

,........................... milwscruffy, Thinking, you hit on the reality of the market, now and as long as I can remember, asking prices and selling prices from mine/friends experience's have always been huge on what actually sells, aside from having my AM coffee, on the HAMB, I watch various sites for cars I'm not going to buy, and IMO the only ones selling are when the owner decides to be real w/ Price and the car sells, always a rare exception, Have bought, sold, traded through the years and have had satisfactory results IMO, having patience, there's car's for sale, for years and owner either is fishing or can't accept the reality of $$$ of his ride. I am not a builder from scratch guy, (admire those guys) but been playing w/ cars for a long time and never really lost any $$$, other hand,(not figuring for shop, my time, etc, it's my Hobby, Just $$$ involved for parts) never made any $$$ on my Hobby cars, I buy my current idea/vision, work on them, make improvements, get them done to my satisfaction, enjoy them and move on to next idea, always have 2 or more, so I never run out of things to do.

 

I always had an interest in Corvettes. I have had 7 of them. For awhile the Gen 2 stuff was priced out of sight and now it is coming back to reality. It appears that once everyone that wants one has one the stupid upward wave crests and the prices return to reality. Not unlike what happened to real estate 8 years ago. The "Flip it" mentality will take the hit. There will always be a strong market for one of kind or rare survivor cars.
Joe