Barrett Jackson Palm Beach Auction

[Stuart F.]

Re: Barrett Jackson Palm Beach Auction

There comes a time when it comes down to availablity. There are more C-2's out there than C-1's. Likewise, there are far more C-3's than C-2's, and oodles of C-4's. Except for special optioned/rare cars, I think the laws of supply and demand apply here.

Stu Fox

[Roy S.]

Re: Barrett Jackson Palm Beach Auction

Long winded:





Street Rods, are never worth more than they are the day they are finished and they are obsolete the day after they are finished. Has not changed will not change with the rare exception you can take that statement to the bank, most of the Restomod Corvettes or 55 or 56 or 57 Chevys that sold at B-J sold for a small portion of what they cost to build, so yes many buy them feeling they are the best bang for the buck and you know what they are - if you intend to drive them. But they will never go up in value or in most cases hold their value, they are not investments.

The real Corvettes with real pieces and good paperwork brought good money at B-J and that money was a lot closer to the cost to build than any of the Restomod crowd.







I also do not believe you should throw a car away because the motor does not exist anymore, or that you should pay the same price for a car that does not have original pieces as you do for one that does.

Educate yourself, know the difference.

[Scott S.]

Re: Barrett Jackson Palm Beach Auction

Roy, Well stated!
Scott

[Jamie F.]

Re: Barrett Jackson Palm Beach Auction

Just a couple months ago I was reading here about how BJ Scottsdale was all about Corvettes. I even had a friend of mine who's a BJ fanatic text me during the auction that " it's just one Vette after another, Corvettes R Us" and they were bringing good values.
Now just a few months later people are worried that values are down.
Palm Beach is a fickle venue, and never does as well as the other venues. Different crowd, and if you sit through the auction when the camera's are off there are a lot of late model cars, SL Mercs, and such that go through, "Florida cars" to be seen in. That's the reason they broke down and offered Reserves, going against what they have stood for, for years. I saw a interview with Craig & Steve and he didn't seem too happy about it, no sale, no commission! Mentioned they would jack up the fee for reserve in the future.
I think the values are fine, Though I also did a double take on that Trophy blue C2, but there must be a "story" behind that one.
I sold a car at BJ OC and got exactly what I thought it should bring, and it was actually top sale of the show. You never know what will happen on any day.

[Steve B.]

Re: Barrett Jackson Palm Beach Auction

Roy, thank you for your post. I wish that more people would educate themselves but it seems as if most want instant gratification. Another huge problem is the amount of misinformation that is being spewed by Corvette Market publications and broadcasters on TV. If I had a dollar for everytime that I yelled at the TV when someone says matching #s means original engine, I would be able to buy another car

[Timothy B.]

Re: Barrett Jackson Palm Beach Auction

Ara,

Is that 67 convertible you bought the one that sold for 39500. I thought that was a nice looking car and if it's original motor all the better.

We could also be seeing people wanting to invest money in more risky assets and not in cars. Real estate, stock market etc. all the things they tell us are bargains..

[George J.]

Re: Barrett Jackson Palm Beach Auction

I don't even want to think about the five 12-cylinder Ferraris I bought and sold in the 70's...

John,
then everyone on this thread could retire with you. Me included.

George

[Tony S.]

Re: Barrett Jackson Palm Beach Auction

When I was driving my '65 convertible today with the top down and good music playing in 75 degree sunny weather, I wasn't thinking about Barrett Jackson or "what's my car worth?".

Everyone waived and I was feelin' fine.

Isn't that what pulled you into this hobby in the first place??

[Ara G.]

Re: Barrett Jackson Palm Beach Auction

Ara,

Is that 67 convertible you bought the one that sold for 39500. I thought that was a nice looking car and if it's original motor all the better.

We could also be seeing people wanting to invest money in more risky assets and not in cars. Real estate, stock market etc. all the things they tell us are bargains..

Tim,
Yes, that is the car I bought but it was 39K not 39.5K. Same difference....It was/is a nice car. I am very happy with it. Original motor to boot. I will gladly put my money that I work my tail off for into Classics as opposed to real estate, etc. I live in Florida and we have seen some of the worst housing market decline in the country. I try to be smart with my money....and an honest, not messed around with 67 Roadster was my choice for the weekend.....

[Pat M.]

Re: Barrett Jackson Palm Beach Auction

When I was driving my '65 convertible today with the top down and good music playing in 75 degree sunny weather, I wasn't thinking about Barrett Jackson or "what's my car worth?".

Everyone waived and I was feelin' fine.

Isn't that what pulled you into this hobby in the first place??

Ditto. Drove the 70 vert today in similar temperatures; all was right with the world, at least for a little while.

[John S.]

Re: Barrett Jackson Palm Beach Auction

They are only original once. I've been tempted, once I have something disassembled, to replace with a superior part. Why not? Because it is a bit of a fools game. Making a 50s or 60s vintage car run with a modern Vette, BMW M-series or 911 is a tall order. Additionally, many of the improved parts really don't improve the car as this forum and my local Vette restoration parts supplier's store are full of stories of composite springs that are too bouncy, squeeky poly suspension bushings and other parts that really don't improve on the GM design. That said I do have radial tires and Bilsteins on my '69. I guess everyone should build what they want and value is in the eye of the beholder.