Barrett-Jackson 2010 WOW!!

[quick-bowtie]

Been checking out the cars going to Barrett Scottsdale this year. I cant believe the line up, they have some nice high end cars going through and the list isnt even near complete.

Either some guys have some very very big dingle berries or theyre in the position that they have to sell.

It should be interesting to say the least IM sure some deals will be had I cant see there being enough money to support all those expensive cars. I cant wait http://www.yenko.net/ubbthreads/images/graemlins/naughty.gif

[vdavie]

I would not bet against it. I was pretty impressed by the last big one. Good money for some of those cars.

[al8apex]

We thought the same last year when they had all the GM cars with salvage or no titles at all

only a very few were "good buys" everything else went for stupid money as always ...

[BJCHEV396]

There will be a lot of good cars because a lot of people need to liquidate.Great time to buy.

[vdavie]

See, i just don't think that is the overall case. I think it may even be better than last year.

[1969z280]

I don't think anybody is liquidating. I've been looking for solid lifter, documented Chevrolets for the last year. Most of the cars for sale are questionable at best. Did you see the junk that Barrett sold in Las Vegas for huge money? Barney Fife clone squad car brought $120K. http://www.yenko.net/ubbthreads/images/graemlins/confused.gif

I think great cars bring great money and this January will be no different. JMO, Ed

[vdavie]

Hay, I have one of those for sale! L78 69 Camaro

[MultiMopars]

[ QUOTE ]
I don't think anybody is liquidating. I've been looking for solid lifter, documented Chevrolets for the last year. Most of the cars for sale are questionable at best. Did you see the junk that Barrett sold in Las Vegas for huge money? Barney Fife clone squad car brought $120K. http://www.yenko.net/ubbthreads/images/graemlins/confused.gif

I think great cars bring great money and this January will be no different. JMO, Ed

[/ QUOTE ]


I think for the most part this is true. While certainly there are SOME people out there in trouble that need to liquidate they make up a small part of the hobby. However, it doesn't stop buyers from TRYING to steal good cars. I think most of them are finding that most people with these good cars may WANT to sell, but they don't HAVE to sell.

OTOH, some big money collectors are not really effected by what most of us (me anyway) would consider a major financial hit. Most of the people that are active on these old car enthusiest sites think that what WE believe and post is the general thoughts of the entire hobby, but I don't believe it. When you look at the HUGH number of cars that are sold at these auctions anually it can't be ignored. However, time and time again I see people commenting on these sites that "that is not the real market" and things like "those people are crazy to pay that." My feeling has always been that in most cases those buyers did not make all the money they are spending making bad business decisions.

[CC Rider]

I'm hoping my buddy Steve lets me drive #976 up on the stage. http://www.yenko.net/ubbthreads/images/graemlins/grin.gif

[quick-bowtie]

I just think the quality of cars has tanked at Barrett since 06' and now you see all these good cars when the market is still down and all selling at no reserve.

I just cant see that many buyer for all those cars.. I counted numerous cars over that should be over 200k and to think thats only a partial list of what there going to have?? I agree I think the market is way better than last year and good cars are still bringing money but when you put alot of them in one spot at one time I just cant see the money lasting. There will be some SMOKIN' deals forsure! IMO

[RamAirDave]

As far as people needing to liquidate, I tend to think there are at least some for whatever reason(s).

What about the dusk blue 70 LS6 vert that sold for $1.2M a couple years ago, then recently sold for ~1/4 of that? I know nothing about the situation there involved, but that sure is a head-scratcher to me.

[Xplantdad]

I think that there will be some good deals as well!

[superstock427]

I just wonder if this will have any effect on car values?

http://board.moparts.org/ubbthreads/show...part=1&vc=1 (http://board.moparts.org/ubbthreads/showflat.php?Cat=0&Number=5615829&page=0&fpart=1&v c=1)

[old5.0]

[ QUOTE ]
OTOH, some big money collectors are not really effected by what most of us (me anyway) would consider a major financial hit. Most of the people that are active on these old car enthusiest sites think that what WE believe and post is the general thoughts of the entire hobby, but I don't believe it. When you look at the HUGH number of cars that are sold at these auctions anually it can't be ignored. However, time and time again I see people commenting on these sites that "that is not the real market" and things like "those people are crazy to pay that." My feeling has always been that in most cases those buyers did not make all the money they are spending making bad business decisions.

[/ QUOTE ]

Possibly, but I think there's been a bit of... naivete in the collector car world in the last few years. Look at the drop in prices in 70 HemiCuda's, or 69 1/2 A12 cars for example. I think that there were a bunch of guys with money jumping into a world they didn't understand clearly, and paid anywhere from a quarter to a half mil for cars that struggle at $150,000 now.

Being wealthy didn't stop them from making a bad decision, it just meant they could recover from that bad decision much more easily than the rest of us. That's my story, anyway. http://www.yenko.net/ubbthreads/images/graemlins/dunno.gif

[Smokey]

Nice. The Mopar guys are all wound up.

[old5.0]

[ QUOTE ]
I just wonder if this will have any effect on car values?

http://board.moparts.org/ubbthreads/show...part=1&vc=1 (http://board.moparts.org/ubbthreads/showflat.php?Cat=0&Number=5615829&page=0&fpart=1&v c=1)

[/ QUOTE ]

I'm going to be very interested to see how this plays out. I've been of the opinion for awhile that huge injection of new blood and new money into the hobby over the last decade has propped it up on a house of cards, so to speak. This could be the first sign of it starting to come down.

I stopped playing with Mopars a long time ago, but I still know a few people in that world, and there's alot of talk floating around that alot of people are going to get burned in this deal, but that may just be gossip. http://www.yenko.net/ubbthreads/images/graemlins/dunno.gif

[gb70]

IMO there are a number of self made, small to medium size business owners that are struggling at best with their businesses and need capital to ride through this rough economy. Selling some investments such as collectors cars are much easier to do than say real estate portfolios, and or stocks.

[MultiMopars]

The highest prices paid for any kinds of muscle cars that I recall at B-J were the Super Snake Cobra and some of the GM Motorama cars. The highest priced Mopar there that I recall was a Hemi Cuda hardtop that sold for $600K and BTW was announced on national TV during the auction as a rebodied car.

I don't think that the F.E. thing is go effect Barrett-Jackson or much else in the market. The HUGE prices paid for a select few Mopars like the $2M Hemi Cuda vert. were supposed "private" sales. I think what has come to light through the F.E. thing is that those were really "paper" sales that were designed for barrowing purposes. Yes, it sounds like there will be a few other people involved in some of these schemes that may end up in some kind of trouble as well.

Regarding the prices of the cars in a post above, It is not just Hemi Cuda's but Hemi cars and E bodies in general. The 1969 six pack car are really down FAR less in relation to the others and if you compare recent prices of a 1969 Coronet R/T vs. a 1969 six pack car, they are VERY close. This make no sence to me at all.

The highest price ever paid for a 1969 six pack car was Colin's Super Bee which with buyers fee was $216K and that car was a previously burned totlaled car with updated disc brakes and NOM.

My point of some of these example cars and prices paid just goes to show you that there is no rhyme or reason as to what some people in the market place will buy and pay for.

[BJCHEV396]

In such a bad economy,and a buyer's market,how does B-J convince the seller's to sell at no reserve?Has to be some desperate people who need whatever cash they can get their hands on.

[RichSchmidt]

I would NEVER bring any car worth serious money to a no reserve auction in this economy.Guys must be cutting throats to getthe first spots over the block because I can see the big money drying up very fast.

[MultiMopars]

I don't know how many of you guys have ever attended B-J or really know how it works so I will tell you what I know.

I have attended the B-J auction for 27 out of the last 28 years. Beginning about 2002 I started taking a motorhome staying for the entire week and purchasing a bidders paddle. I have never bought or sold a car through there auction or any other for that matter. Over these years I got to know a lot of the big players there.

First of all B-J gained a reputation as "THE AUCTION" for a large number of quality cars for sale in one place in the middle of the winter with perfect weather. As their attendance grew for both buyers and sellers, they took the gamble that they could run a no reserve auction and still maintain their standing. To some degree they have. They have set record numbers each year since they began the no reserve. However they have had to get creative to do it, such as all the GM "special collection" cars sold last year. Many of those cars held absolutely NO desirability to me as anything special. B-J has lost a lot of their old customers that were big dealers that brought multiple transport loads of quality cars in the past. These same dealers also BOUGHT a lot of cars. These people are not willing to chance on a reserve auction. Many of them have moved on to other auctions held at the same time in AZ. such as the Russo & Steele.

The big money is NOT at the start of the auction but rather on Sat. and Sun. with prime times of those days bringing premium prices for the seller to get one of those spots. You can't just BUY those spots, B-J hand picks the cars THEY want for those days and times. They have more sellers every year than they can handle and turn many away. They try to have a good mix of cars and prices throughout the auction to draw and satisfy all. However the lower priced less desireable cars run early in the first days and late at night in the early days and late the last day.

In my opinion the overall quality of the cars there has dropped considerably in the last few years simply because of the no reserve policy. However they still turn cars away every year.

The sellers fee is 8% plus and extra fee for special run time, 8% buyers fee, close to 10% sales tax. If you buy your own car back (which has to be done by a straw buyer) you have to pay ALL of the above fees unless you are a dealer in which case there is no sales tax.

As you can see from other auction reports around the country there are STILL alot of cars selling for big money. You can BET that a lot of people wait each year for the big Scottsdale auctions as they have traditionally drawn the best cars in the hobby.

Many of these buyers and sellers are sucessful, busy, business people that don't have the time to dedicate to selling or buying a car personally and also want to have a large number of cars to choose from in one place that they KNOW are going to sell. Time is valuable to these people and worth the extra money they may pay to buy or sell quickly. Have you ever considered the time & money you have spent on the phone, computer, traveling to look at cars you never bought? Multiply those hours (plus expenses) by $500-$1000. which is what some of these people's time is worth per hour.

In closing, my GUESS is that B-J will have another very suscessful auction and there will again be records set.

[dreemz]

Am I missing something here? Is the list of cars at the BJ web site complete or partial? With Fri and Sat being the most desirable to sell your car there seems to be few upper crust cars. The BJ line-up can't hold a candle to what Dana Mecum put together last spring.

[ohhawk]

I would guess there are many reasons why you're seeing a number of high end cars (and others) being brought to this auction regardless of the current market.

I sold our Chevelle recently not because we had to or that we needed to. I was ready for a change but equally important was the fact that I'm getting a little tired of the misrepresentation and outright forgery that continues to grow in the hobby be it the cars themselves or the documentation that accompanies the vehicles, the popular '70 Chevelle is a good example but there are many others as well. I would also say that I am of the belief that the markets for a good share of these cars will continue to stay soft for quite awhile. You can't rule out that prices could soften further for many. So perhaps some bringing cars to these auctions might have some of these same feelings as well as those already mentioned.

I would add that we had a noted private collector that had been expressing interest in our car for awhile so we had a qualified / motivated buyer which made it convenient.

I will still follow and enjoy the musclecar (and old cars in general) hobby and may well return to another vehicle from this era in due time but for now just stepping back a bit is the right fit for me.

[MultiMopars]

[ QUOTE ]
Am I missing something here? Is the list of cars at the BJ web site complete or partial? With Fri and Sat being the most desirable to sell your car there seems to be few upper crust cars. The BJ line-up can't hold a candle to what Dana Mecum put together last spring.

[/ QUOTE ]


Many of the cars will not be listed in sales position until shortly before the auction and even then they are subject to change. B-J controls the run days and times pretty closely to what they believe will be for the most effective sales positions.

I used to live in the mid-west and have followed the Mecum auctions for years. They have come a long ways over the years and especially the last 5 years.

[Keith Tedford]

REmember the old stock market saying: "Don't buy the stock if you can't afford to lose it." The guy watching "his" six pack Challenger heading off down the road to its righful owner, would know the saying well. I would imagine that there are quite a few others who are also a little nervous and might just send their cars down the road before something bad happens.

[P.J.]

I would be scared to death bringing my car down there for auction. I think that unless you really know the ins and outs of this auction be prepared to have your undies pulled down past your knees.