Barrett-Jackson Auction

[Scott F]

Anybody watch the Barrett-Jackson auction? I'm not much of a car guy but I saw quite a bit of the auction. I am fascinated by all the car shows on TV and am amazed at how much money people will pour into rebuilding/refurbishing old cars. Watching the auction, I could see that many of the cars sold for much less than had been spent restoring them.   Toward the end, a 1952 Buick called "Bombshell Betty" went on the block. This bizarre car was built to run on the Bonneville Salt Flats and set several land speed records. I googled the car and saw it for sale online. The owners were asking $195,000 for it. At the auction, the hammer fell at only $33,000!  I wish I had the money, I'd go to the next auction to buy a cool car for thousands less than it would cost to have one fixed up.

[jr231]

 I see that and mecum on tv all the time. For our country being in such turmoil.. there sure seems to be a good number of folks with a surplus of spending limits. Must be nice. 

[FordsnFishin]

I enjoy watching it time to time. 

I like to see what cars go for. My family and I are classic car fans.

[Al Wolbach]

Many of these people are investing in autos. It's a little safer than the stock market, IMO, but still a gamble. There are additional cost as well,  such as a 10% fee to Barrett-Jackson and shipping cost, and storage, etc.

[Redlinerobert]

True that many buy for investment.  Crazy how some of these cars appreciate.  I could kick myself for a couple opps I had to buy some cars. 

[Gundog]

As the former owner of a pristine '70 Mustang Coupe with a 351 windsor motor I can tell you I would kill to have that car back. I am amazed to see the prices of some of the cars I use to drool over as a teenager. I can remember in the late 70's you could buy a used hemi powered dodge for about 2 grand. If a person had the money at the time they could have had quite a collection of big money muscle cars. 

[Yakalong]

I love older cars and enjoy watching mecum. 

[timsford]

I just hope some of the high rollers actually drive the cars once in a while. I remember several years ago seeing a Plymouth superbird with 2 (!) Original miles on the odemeter. It had been garaged with the window sticker on since they bought it. It ended up going for well over a million. They got a nice return on the investment all those years ago, but there's no way I could own a car like that and not drive it. 

That to me is like buying an expensive reel for the shelf. I have nothing against guys that do it, but i just have to fish them. That's why I try to buy used reels with a mark or two so I don't feel so bad when I scratch it

[Al Wolbach]

On 10/16/2016 at 2:50 PM, Redlinerobert said:

True that many buy for investment.  Crazy how some of these cars appreciate.  I could kick myself for a couple opps I had to buy some cars. 

The Ford GT's are going up around $100K a year, so don't pass on that opportunity, should it arise, lol

[Gundog]

3 hours ago, Al Wolbach said:

The Ford GT's are going up around $100K a year, so don't pass on that opportunity, should it arise, lol

*Looks at his wallet*  I'm only $999,999,975 dollars away from that GT. 

[Redlinerobert]

4 hours ago, Al Wolbach said:

The Ford GT's are going up around $100K a year, so don't pass on that opportunity, should it arise, lol

Funny you mention the GT.  I had an opportunity to buy a new grey one when it was released for sticker.  My garage was full at the time, so no go. 

[Al Wolbach]

1 hour ago, Redlinerobert said:

Funny you mention the GT.  I had an opportunity to buy a new grey one when it was released for sticker.  My garage was full at the time, so no go. 

What a shame. That opportunity only occurs once in a lifetime. FWIW-They say visibility is bad to the rear, lol. Who cares what is behind you in that car. Everything will be behind you in just a second. They have only escalated a few hundred per cent in value, about 500% I believe.

Seriously the Ford GT is one of the better investments auto wise and is predicted to continue to be a wise choice. Only time will tell and out of my tax bracket anyway...

 

[slonezp]

17 hours ago, timsford said:

I just hope some of the high rollers actually drive the cars once in a while. I remember several years ago seeing a Plymouth superbird with 2 (!) Original miles on the odemeter. It had been garaged with the window sticker on since they bought it. It ended up going for well over a million. They got a nice return on the investment all those years ago, but there's no way I could own a car like that and not drive it. 

That to me is like buying an expensive reel for the shelf. I have nothing against guys that do it, but i just have to fish them. That's why I try to buy used reels with a mark or two so I don't feel so bad when I scratch it

I tend to agree with you. Drive it like you stole it.

There is an auto museum here in northern IL where 99% of the cars are for sale. http://www.volocars.com/ Hadn't been there since the kids were little. I visited recently because my demented MIL kept saying she wanted to see a '59 Cadillac Well, no '59 Caddy but she was in heaven, all the old cars bringing back memories. I could have spent a week there myself, were it not for the wife and MIL What I was surprised by is the bulk of the cars were affordable or, lets say the price of a mid level bass boat. The 2 most expensive cars were original numbers matching late 60's Barracuda and Camaro which were low 6 figures.

In the mid 80's I almost bought a 67 Camaro. Opted for an 81 Firebird. A buddy of mine had a 69 GTO Judge that I recall "drifting" in before drifting was invented  Funny thing was he had a Honda Civic for a daily driver. Both cars parked in front of his house on the north side of Chicago. Thieves stole the Honda because it was worth more for parts.    

[flyfisher]

On 10/16/2016 at 10:27 AM, Yeajray231 said:

 I see that and mecum on tv all the time. For our country being in such turmoil.. there sure seems to be a good number of folks with a surplus of spending limits. Must be nice. 

You should have been watching them 10 years ago...

[Redlinerobert]

I put over 10k miles on my new '05 Murcielago before selling it.

[Al Wolbach]

9 hours ago, Redlinerobert said:

I put over 10k miles on my new '05 Murcielago before selling it.

I don't care to drive anything that I can't spell the name off. But I *** you!

[Ratherbfishing]

On 10/16/2016 at 9:27 AM, Yeajray231 said:

 I see that and mecum on tv all the time. For our country being in such turmoil.. there sure seems to be a good number of folks with a surplus of spending limits. Must be nice. 

The press would have you believe we are in huge turmoil but, compared to much of the world (at least), we are the very model of a modern major...republic.

[jr231]

34 minutes ago, Ratherbfishing said:

The press would have you believe we are in huge turmoil but, compared to much of the world (at least), we are the very model of a modern major...republic.

I don't really follow the press. The value of an American dollar is practically garbage. When someone can go to work full time (regardless of what it is) and not be able to afford everything they NEED . It's a sign our country is not in its greatest shape.  When I have to wake up and worry about how I'm going to pay for this and that.. even though I bust my back every day. It's not really convincing for you to tell me that our country isn't so bad.  

Now I understand I'm not living in a mud hut and that I had something to eat today. There are alot of things I'm grateful for.. 

[slonezp]

On ‎10‎/‎28‎/‎2016 at 2:31 PM, Yeajray231 said:

I don't really follow the press. The value of an American dollar is practically garbage. When someone can go to work full time (regardless of what it is) and not be able to afford everything they NEED . It's a sign our country is not in its greatest shape.  When I have to wake up and worry about how I'm going to pay for this and that.. even though I bust my back every day. It's not really convincing for you to tell me that our country isn't so bad.  

Now I understand I'm not living in a mud hut and that I had something to eat today. There are alot of things I'm grateful for.. 

If you woke up everyday, to bust your but,t and only had to support yourself and your family, and didn't have to contribute 50% your hard earned cash to taxes, you'd be able to afford everything you need.

[jr231]

2 hours ago, slonezp said:

If you woke up everyday, to bust your but,t and only had to support yourself and your family, and didn't have to contribute 50% your hard earned cash to taxes, you'd be able to afford everything you need.

I'm not exactly sure of your point ? Care to elaborate? You want to have less taxes? I get by... I don't think our country is bad.. its just even the "middle class " (which I'm barely considered) struggles for things that are necessities even though they put their time in.. while there are people spending 250k on cars and Im eating off the dollar menu every day so my child has diapers. must be nice. Is all I had to say about it.. 

[slonezp]

Just now, Yeajray231 said:

I'm not exactly sure of your point ? Care to elaborate? You want to have less taxes? I get by... I don't think our country is bad.. its just even the "middle class " (which I'm barely considered) struggles for things that are necessities even though they put their time in.. while there are people spending 250k on cars and Im eating off the dollar menu every day so my child had diapers. must be nice. Is all I had to say about it.. 

I was brief on purpose to prevent the thread from being locked. Taxes are mismanaged and there are too many people in this country who can get housing, food, clothing, cable. and smartphones and never work a day in their lives. There are other countries receiving aid from our tax dollars and politicians skimming and mismanaging our money.   I'll say it before the mods....Goodnight Irene

[jr231]

I couldn't agree more sir. 

And I don't think you're out of line. It's facts ? Ha-ha. 

I like the show. I wish I could have an old mustang. Like a 69. Or any of those old cars really. A cuda or challenger. 

I go down to pigeon forge once a year for the "rod run" and get to see a bunch of those classics. Just walk the strip and see em all. It's a good time. My girlfriend likes the old trucks. Like the 50's.