Market Indicators-Weak showing of Mid Years at BJ

[Chris L.]

Re: Market Indicators-Weak showing of Mid Years at

BJ has many disclaimers regarding the accuracy of the descriptions and claims on the auction cars. They are well protected. If the buyer has a problem, they have to take it up with the seller, not BJ. I remember a few years back when the auctioneer at BJ was representing a 65 BB Corvette and a numbers matching original car, but the serial number was an October build date !!! Car sold for $150+ !!!! The following year was when they(BJ) made verbal disclaimers prior to the auction as there was a big legal hassle over that particular car. I go every year and it is fun to watch these idiots pay 5-10 times what the car is worth for so called numbers matching cars and the truth be known, the only numbers that match are the front and rear license plates.!!

[James C.]

Re: Market Indicators-Weak showing of Mid Years at

My experience over the years tells me to never buy an automobile as an investment. Buy it cause you like or it fills a teenage fantasy or whatever. The only people making big $$ are the dealers running up the market price and taking their profits.I have owned over a 150 cars in my lifetime and everyone I bought fulfilled a personal need, be it as basic as day to day transportation or a desire to own a particular car. Even those of us fortunate to own an incredible vehicle like a Corvette, should realize we are merely caretakers of these cars and they will pass to others leaving us with the most valuable part of ownership which are the memories..Just my thought..Jim

[Duke W.]

Re: Market Indicators-Weak showing of Mid Years at

I think I remember that car. It was 2002 - a '65 396/425 with a sequence number of around 5000 that looked like an OE 396 to casual observation - all the obvious components were there. At the time I didn't know the exact number of the first 396, but I knew L-78 production didn't start until about mid production in the March time frame and the first L-78 had to be around 11,000, certainly not in the 5000s.

I was surprised that this car was bid to were it was as it was an obvious fake, but then I've never seen a correlation between money and knowledge at car auctions.

Do you know the outcome of the legal proceedings? Did the buyer sue B-J?

Duke

[John H.]

Re: Market Indicators-Weak showing of Mid Years at

Same thing happened in 2003 with the yellow '69 Z/28 that turned into a war of egos between two guys, and was bid to $118K by the guy in the yellow blazer who wanted it since it matched his blazer . That car was a fake (even had a six-cylinder VIN), and we (CRG) have watched it sell several times over the last eight years, configured as three different cars, always with the same VIN, but with three different (fake) trim tags.

When the yellow-jacketed buyer found out three days later the car was a fake (which he could have noted immediately by the VIN if he bothered to know anything about what he was bidding on), he sued the seller for fraud; by the time it was over, he got his money back, AND got to keep the car.

Big egos + no knowledge + fat wallets + free drinks = stupid money paid.

[Ronnie Rains]

Re: Market Indicators-Weak showing of Mid Years at

BJ has learned over the years that the buyer/seller ratio is the secret, 4-5 buyers for each car. I don't think prices will be that soft for mid years.
RDR

[Chris L.]

Re: Market Indicators-Weak showing of Mid Years at

Duke...I never heard the actual outcome, but there was a bit of publicity over it. Similar thing happened in 03 or 04 when a black 435 bb went through the auction as a numbers car and totally restored and as it turned out the car was advertised in the Driveline (serial numbers matched) a year earlier as a yellow car with a small block, numbers matching, that had been crushed by a roof cave in of the guys garage. Shows up a year later as a BB435 black/red stinger numbers car with documentation and brought big money!! If you go to BJ, you better have at least 3 sets of eyes! I have to admit it is a blast to go there and watch the people throwing away money. They are there for their 15 minutes of fame on TV. Watch the drunks up on the stage looking at the car like they have never seen one before and half of them don't even have a bidders paddle and couldn't buy the car if they wanted too!