Disturbing 1969 435HP Sale on Barrett Jackson

[Gary C.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

There are only about a dozen Corvettes with NCRS Award Confirmation letters. These are the ones listed and that can use NCRS Top Flight, Duntov, etc in the catalogs. Expect those cars to bring top dollars. Gary....

[Michael S.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

In 2006 the quality and presentation of cars for sale at BJ was exceptional! In 2007 the overall quality of cars for sale was significantly less. In 2008 the overall quality of cars dropped significantly again. This year edition of BJ (2009) with the exception of may 75 or less significant cars and some of the GM cars can at best be described as what you will find at your local yocal collector car auction. Old cars, nothing else! All an enthusiast at home had to do was watch the Tuesday and Wednesday night sale to see that!

Television, lighting and filters really makes the cars look good and most of the BS from the announcers is fluff at best and just plain WRONG at other times. Until you go to this event IN PERSON and experience the quality of cars presented for sale IN PERSON, I would put little faith in the sale prices of the cars based upon TV appearance and TV announcer BS.

The overall quality of cars presented for sale at BJ in 2009 is poor. What would you expect at a No Reserve sale in this economy? I know very few people today who will consign a NICE & Correct car at a No Reserve auction.

As was the case in 2008, look to the Russo & Steele sale for a better OVERALL quality group of cars for sale. The overall stuff for sale at BJ this year (2009) looks like what I would expect at the Silver Auction at Ft McDowell and that's known as the skid row auction during auction week in Phoenix. Good thing that BJ has the 200 GM cars for sale. Without those cars they would have absolutely NO HOOK to draw bidders to their sale. Look for R&M and Bonhams to continue their high quality car auctions as usual with a nice presentation of quality cars.

Pitiful! Just plain Pitiful!

[Jake D.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

That white "89 ZR1 was known as "The Snake Skinner". It had "many" lightened parts on it. It was driven hard and put away wet!

[Warren F.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

I just started a complete restoration on a 1969 427/400. I was sick when I saw that the 427/435 went for 50K. I didnt see the one for 33K. Im going to have more than 50K in mine when Im done, not counting the hours. I dont have paperwork but It is "numbers matching", and the numbers are good. Im hoping that was a lucky bidder and not the value for right now. i guess most of the Corvettes are going through on Friday and Saturday according to the Barrett Jackson people.

Ned,

A good friend of mine, bought a '69 LeMans blue L68 coupe, and re-furbished it last year. He has around 41K into it, and it does not have any paperwork whatsoever. It is however an original pad stamping. He has corrected everything that was wrong or missing. Apparently ordered with very few options. A very early car, something like vin 2554.

[Terry M.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

I can't recall what board it was, but I lurked on a discussion of how many of those cars from the Heritage Collection could be licensed for street use. This is one (the Snake Skinner) I would think might be good only for lawn art, or a garage monument.

[Steven B.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

I can't recall what board it was, but I lurked on a discussion of how many of those cars from the Heritage Collection could be licensed for street use. This is one (the Snake Skinner) I would think might be good only for lawn art, or a garage monument.

---or, a few very early morning bursts on the Interstate with tail lights discinnected. There were a number of Engineering cars on display at Mid Ohio about 25 years ago, including "Thumper", a blue early C4 with mods. I loved the car but it, like all the others, were really beat and actually in worse condition than the Corvette Challenge cars---but they were Engineering cars used for development so it was understandable.

Terry is correct, you can look at them, or maybe use as a track day car, but less chance of hanging a plate on it. But what fun!

[Stuart F.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

I believe it was John Henricy (correct me on the name if I'm wrong) the GM engineer head that gave a testimonial about the white 89 ZR-1, noting how he first dated his wife to be with it. That in itself had to add some to it's value, WoW!

Stu Fox

[Jack C.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

The value of a car is what someone is willing to pay for it.

[Ridge K.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

First off Barrett/Jackson is not a good source for car values. You have people that go there with more money than brains, add a little alcohol, a few minutes on TV and good sense and good judgement go right out the window. Check out past auction prices compared to local sales and you will see what I mean. It's like comparing apples to oranges.
Second, if you are restoring a Corvette to make money, good luck. Most of us realize we will never live long enough to get the money out of our cars that we put in to them, hence the reason it is still called a hobby.
Terry

I think Terry has hit the nail on the head. Barrett-Jackson has become about hype, glitter, and television lights. If you ever get a chance to talk to one of the junior level employees, they will tell the stories about how the fever pace of bidding dramatically changes when the TV lights are turned on.
In John McNeely's initial post, he gave us the clue by kindly adding the link to that day's sales. Flashy street rods bring more money than big block Corvettes. When '59 Chevy station wagons bring more than restored L71 Corvettes (even if they have restamped engines), something is wrong. Of all the classic car auctions, I feel B-J is the least accurate in reflecting true values.
And the truth really is, if you're buying a classic Corvette, and restoring it, to make money, I'm afraid that time has come, and gone. Having said that, I'll still take my '67 over the mutual fund I cashed out in 2005, any day. Ridge

[Dick W.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

As I do personal property appraisals, including Corvettes, I normally use prior auction sales as a part of the equation to determine value. I have found that the Barrett Jackson prices are way out of line with the actual value of vehicles.

[John M.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

I can live without making money, but would also hate to think I'm throwing it out the window by the barrell full.

As I type this my hands are covered in grease, and if my Finance caught me sitting on the couch with these filthy Jeans, she'd kill me.

There's a pride of accomplishment and a sense of being at one with your machine once you've turned every bolt on a car. It's an intimate union of man and Machine that words can not describe unless you've restored one.

A feeling I know too well and relish.

But pouring your Heart and Soul into a car with the final outcome being $20,000 upside down in it's value is unsettling.

[Jim D.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

But pouring your Heart and Soul into a car with the final outcome being $20,000 upside down in it's value is unsettling.

Restoring a car, any car, is one of the worst investments you could possibly make. The only way to keep from losing your azz is to buy one already finished and hope the market stays steady.

[John M.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

I sold a Chevelle LS6 Clone for $55K last fall.

Instead of holding out for the Deal of a lifetime, I bought an L46 Coupe and am restoring it to the hilt. Down to the paint dabs, Smog system and all.

I'll likely have $40K into it as the budget is always understated.

Seeing Tri-powers selling for $50K makes it obvious I made the wrong descision as I could have had a significant car in the $50K range.

Even a pretty nice Mid year can be had for $55K these days.

I hope I enjoy my 69 L46.

The problem is unless I'm wrenching on them, I get bored.

It's fun to take a cosmetically challenged car and make it dynamic, but I think I missed out on a very strong Buyers market.

I guess you can't look back though, full Steam Ahead.

[Kenneth B.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

I can live without making money, but would also hate to think I'm throwing it out the window by the barrell full

A feeling I know too well and relish.

But pouring your Heart and Soul into a car with the final outcome being $20,000 upside down in it's value is unsettling.

The person that buyes a done car get's the best deal. Add the price of a nice car needing restored & the restoration cost,DOUBLE WHAT YOU GUESS, + time & your upside down by 20,000. BEEN THERE DONE IT TOO MANY TIMES. It cost the same to restore low option/low HP Corvette as a HP or high optioned one.
KEN

[Michael S.]

Re: Disturbing 1969 435HP Sale on Barrett Jackson

That white "89 ZR1 was known as "The Snake Skinner". It had "many" lightened parts on it. It was driven hard and put away wet!

That's part of the patina, history and uniqueness of this particular car. I think that added LOT'S of value to that car in the minds of the bidders!