[RI] 87 Formula 350, 6,000 mi. Original Owner "SOLD"
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OK, here's the deal. I used to restore Oldsmobile 442's back in the 80's to concours show quality. Everything had to be exactly correct and original. I wanted to buy a new performance car that I could preserve so I wouldn't have to restore it in the future. I ruled out the most popular models of the time, IROCs, Trans Ams, Mustangs, Grand Nationals, etc. and decided on an underdog, so to speak, for it's rarity in the future.
When I ordered this car, I was told by the dealer that it was still months before production started on the 350 models. I specifically told the dealer that I wanted every piece of documentation that came with the car and I got it.
Recently, I have been thinking of selling the car and I have been following the classic car auctions to feel out the market price. It has been difficult to determine. I recently recieved notification of a classic car auction being held in my state on June 27th by ICA Auctions. I have decided to put my car on the auction list to see what it will generate. I am listing it with a reserve of $16,500 which will net me about $15,000 after the auctioneers fee of 10% is taken. Of course I'm hoping it will be bid higher but I doubt anyone without an express desire for this type of car will go much higher. Thats why I am placing it here on the Third Gen Forum for members who truly appreciate it for what it is. I do plan on going through with the auction but will be accepting offers and feedback before and maybe after. I don't plan on having an on-line auction for this car and hope it's not against the forum rules, but it is what it is. I am just trying to get the most that I can for it. This is the info that I gave the auction people.
"ORIGINAL OWNER ONLY 6,000 MILES COMPLETELY UN-MOLESTED, UN-RESTORED, FACTORY ORIGINAL, NEVER DAMAGED, ALWAYS GARAGED. ALL ORIGINAL PAPERWORK, INCLUDING DEALERS ORDER FORM, BUILD SHEET, BILL OF SALE, WARRANTY INFO, TAGS, STICKERS, ETC. ORIGINAL FRONT LICENSE PLATE BRACKET STILL IN GM PART BAG, NEVER MOUNTED ON CAR. VERY UNIQUELY OPTIONED, SPECIFICALLY FOR PERFORMANCE ENHANCEMENT. EVERY PERFORMANCE OPTION AVAILABLE AT TIME IS INCLUDED IN THIS CAR ALONG WITH AIR CONDITIONING AND STEREO. TO REDUCE WEIGHT, OPTIONS SPECIFICALLY ELIMINATED WERE POWER WINDOWS, DOOR LOCKS, POWER SEATS, TILT WHEEL, CRUISE CONTROL, T TOPS, REAR WINDOW DEFROSTER, ETC. THIS CAR WAS CUSTOM ORDERED AND PURCHASED BY THE CURRENT OWNER WITH A SPECIFIC INTENTION OF LONG TERM STORAGE AND PRESERVATION. THE FINEST ORIGINAL AND COMPLETE EXAMPLE YOU WILL FIND. FIRST TIME OFFERED FOR SALE!" I will tell all that the only part of the car damaged is the rubber rear spoiler is cracked from the steel inside rusting? I don't know how this happened as there is absolutely no rust anywhere else on the car. I have heard this is a common problem.
I am attaching some copies of the documentation I have and an old picture. I will be taking more pictures and hope to have them online tomorrow. I hope I can answer questions on the forum so I don't get a bunch of individual e-mails. Thanks for reading my ad.
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Last edited by asx455; 07-08-2009 at 11:08 AM.
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Over 260 views and only one comment? I thought I would generate at least some feedback with this car.
Nice car, but in this economy I don't think that a lot of people are investing in cars, let alone third gens as they are to new. A lot of car for the money though. If possible you should hang on to it as the future of the collector market is now hitting their late 20's so they are the ones that will remember these cars as someone in school had one, older sibling, etc. Too rich for my blood though good luck
I think your price is about right. I have never seen a formula in that color combo yet alone one with low mileage. It looks great. I really like the options you picked too. But here is something you can use to compare with...
ASX,
She is a beautiful bird. I think your pricing is in line for the miles & all the documentation you have. I agree that you may have better luck by going through a auction. Good luck with the sale.
Over 260 views and only one comment? I thought I would generate at least some feedback with this car.
It's hard for us Canadians to judge vehicle prices. We use "Metric" money!
Given the current state of the economy I'd be leaning towards keeping the bird tucked away just a lil' while longer. Once the Pontiac dealerships disappear this brand will be come even more rare as they'll never be any more "New Pontiacs". Maybe the money supply will loosen up a bit in the next year or so.
I would venture a guess that in Cdn funds that car should get around $20K. What's that in US? $17.5K maybe? Which might have been close to it's original sticker price, not sure. (my '87 IROC was $22.4K Cdn in '87)
The other side of my brain is saying, so you've had it for 22 years, took loving care of it and now want to sell it for the original sticker price (or less). Begs the question, why?
It's hard for us Canadians to judge vehicle prices. We use "Metric" money!
Given the current state of the economy I'd be leaning towards keeping the bird tucked away just a lil' while longer. Once the Pontiac dealerships disappear this brand will be come even more rare as they'll never be any more "New Pontiacs". Maybe the money supply will loosen up a bit in the next year or so.
I would venture a guess that in Cdn funds that car should get around $20K. What's that in US? $17.5K maybe? Which might have been close to it's original sticker price, not sure. (my '87 IROC was $22.4K Cdn in '87)
The other side of my brain is saying, so you've had it for 22 years, took loving care of it and now want to sell it for the original sticker price (or less). Begs the question, why?
FWIW
You answered your question in your statement, " Given the current state of the economy".
Keep us posted if it goes at auction or not... Right now I'm in the process of liquidating some of my collection and projects... once I free up space I might be interested in something like this, probably not for another month or two though...
I still have it. What a complete waste of time that auction was for me. They promised 200 cars so I reserved spot #102 figuring I would be right in the middle. They only had 111 cars so I ended up near dead last. They had a packed house with seating for 250 and people standing wall to wall through the first half of the auction. Look at the picture of what was left when I drove my car through. One guy bid $10.000. Without any other bidders, of course I turned it down. The only bright side of the ordeal was that I did get to take the car for a little ride again and it was awesome. So, I still have it and it is officially for sale.
You should try one of the big name auctions like Barret Jackson in AZ or FL. I know here in AZ at the Scottsdale auction you probably would have gotten your asking price. However, the risk is its a no reserve auction.
I though about the bigger auctions, but from where I am located, just the thought of transporting, travel expenses, time etc., makes me reluctant to do so. I've kept it for 22 years already so I could hang on to it longer. I just wish I had more garage space, (who doesn't?).
Decided to take the car out for a ride on a bright, sunny day last Sunday. Stopped in my local watering hole biker bar, had a couple of cold ones, than moved on to the next biker bar (a routine I usually do on my bike). At the second bar, some guys I know were admiring the car when one of them says he wants it. He asked what I wanted, I told him I'm looking at $16,500. He offered me $15,000 on the spot so I sold it to him. Here's the best part. I know this guy. He is a couple of years older than me and has been a car guy all his life. He told me he does not plan on using the car for daily transportation but instead will continue to store and preserve it as I had, and only take it out a few times a year on special occasions. He said he plans on sitting on it for another 10 years or so. Go figure? Without even advertising the car for sale locally, it sold within 2 hours.
Thanks to everyone who supplied me with some feedback on the car.
88 Firebird Formula 350- 85,XXX miles *G92* *Ws6*
