Crazy Price

[Jimmy G.]

GAA Auction 67 350 HP AC Black / White Coupe $ 170,000 WOW!!!!!

Am I missing something ??

[Michael J.]

Re: Crazy Price

Wow! Is it a Duntov? Triple Crown? Maybe black/white C2s are in, that's good, I have one........

[Jimmy G.]

Re: Crazy Price

No listing of any awards at all

[Don H.]

Re: Crazy Price

Along that same line, at a Midwest classic car auction that ends Monday (Sullivan Auctioneers), they have a 1959 Chevy Impala convertible (https://sullivanauctioneers.proxibid...ation/59739143) that has a current bid of $103,000! I don't get it. Don H.

[Frank D.]

Re: Crazy Price

What and where is the GAA auction ?
Apparently a split window went on there for very strong money.

[Jimmy G.]

Re: Crazy Price

SWC went NO SALE at 130K repo KOs

[Ronald L.]

Re: Crazy Price

Don,
The undisputable facts are that there are more of them out there now than ever left the factory.

Maybe it was the side exhaust on an AOS car.
https://www.gaaclassiccars.com/vehic...t-corvette-l79

[Jimmy G.]

Re: Crazy Price

GAA Auction is held a couple (4) of times a year in Greensboro, NC and specializes in older and collector cars. Well run auction, lots of cars, and lots of buyers and apparently lots of alcohol to the bidders.

[Paul D.]

Re: Crazy Price

We usually blame it on the alcohol, and many times rightfully so, but more often than not it is the readily available cash that is the culprit. Auctions open to the public depend more on buyers with deep pockets that are buying based on emotion rather than investment value. Buyers go in looking for that car they always wanted and could never afford... until now. All it takes is two or more looking for the same car and it's off to the races. As a seller, if you happened to bring that car to auction you are golden. If you are the guy that brought a green/green, equally equipped and sorted version of the black/red or silver/blue car that just set the crowd on fire, you may feel disappointed. In my mind, these televised auctions do not determine values for our cars. They do, however, embolden the owner of a car you have watched deteriorate over years to quote a price multiples more than you would consider paying and tell you one "just like it...just fixed up a little" sold for X dollars and that justifies his or her price. You just have to walk away and watch it rot away for a few more years.

[William F.]

Re: Crazy Price

If prices that cars go for at auctions, and I mean those that are really sold not 'bid goes on"ones, don't give some idea of market, what do you think gives a good snapshot? Ads in Hemmings, Driveline, etc.?I'm just asking.

[Paul D.]

Re: Crazy Price

We just have to realize particular cars do not indicate overall market value. Barrett-Jackson/Mecum/R-M are not average auctions. Say a base engine, 71 convertible crosses the block at Mecum. Very nice, restored car. Probably a labor of love with much more in it than it would normally be worth as most enthusiast tend to do. Enthusiast wants to start another project and decides to auction it off. Buyer at auction had one just like it in college but sold it when he got married and always regretted it. Buyer out bids everyone else because he has different motives than everyone else. He pays 50k for the car and is happy. Though he has the resources (cash), he doesn't have the time or skills or facilities to restore a lesser example. He wants to start enjoying it tomorrow, not three years from now. Besides, 50k is a bargain compared to what he would spend rebuilding a car in a certain time frame. Plus, that's much less than the wife's new Tahoe! Now, would I think my base 71 convertible is worth that on it's best day? No. The value of anything is exactly what someone else is willing to pay.

[William F.]

Re: Crazy Price

I agree with your examples Paul, but where do you think we can gauge what the collector car market, in general, and the Corvette market specifically, is doing, up or down, in a certain time period?

[Steve B.]

Re: Crazy Price

Funny, when prices are low people constantly whine that the no one wants these cars anymore. When prices are high, it's from alcohol. Just an observation on the human condition.

[Dave S.]

Re: Crazy Price

Funny, when prices are low people constantly whine that the no one wants these cars anymore. When prices are high, it's from alcohol. Just an observation on the human condition.

[Jaime G.]

Re: Crazy Price

any car on any given day is worth what someone is willing to pay for it.