Low Mileage thirdgens at Barrett Jackson
01-20-2011, 09:20 AM
#51
Supreme Member
Re: Low Mileage thirdgens at Barrett Jackson
The real question is: is ANY 305 worth $60k?
No. Not it is not. Not even close. I don't care how rare it is. It's a 305 FFS.
That car isn't worth $40k today, and everyone here knows I'm an optimist about the value of these cars if there ever was one.
I'm comfortable with the idea of these cars being in the $30k-$35k bracket. $60k is just outrageous though.
Meanwhile, back at the ranch, my 1990 with a 305 is worth maybe $6k on a good, good day.
No. Not it is not. Not even close. I don't care how rare it is. It's a 305 FFS.
That car isn't worth $40k today, and everyone here knows I'm an optimist about the value of these cars if there ever was one.
I'm comfortable with the idea of these cars being in the $30k-$35k bracket. $60k is just outrageous though.
Meanwhile, back at the ranch, my 1990 with a 305 is worth maybe $6k on a good, good day.
01-20-2011, 09:20 AM
#52
Moderator
Re: Low Mileage thirdgens at Barrett Jackson
Let's keep it civil guys. If you want to have personal discussions, use the PM feature.
Drew isn't putting down the cars as much as he's speaking reality. He even mentioned it in his final post about trying to sell parts and such. If you go to the body, interior or appearance board, you'll see that his comments here are reflective of what others are doing with these cars. In reality, the 1LE are put on a pedestal sometimes equal to that of the old COPO cars. The difference is that there are no performance improvements with the 1LE as there are with the COPO, so it's not really the same. The only similarity is that the 1LE was designed as a track car and so was the COPO. Compare the 1LE to a standard Camaro with all of the performance goodies, then compare the GNX to a regular Grand National. The GNX had other improvements over the Grand National making it a "special" car, thus making it more valuable.
Also, as Drew states about the mileage, look at the 83 Trans Am on BJ. It's got low miles and was repainted 3x by high school students and had a lot of damage done to it over the years. It looks good now, but is it's history really as clean as someone would want when spending a ton of cash for a low mile car? The mileage needs to consistant with care and a multitude of other variables. Mileage alone should not be the only reason to pay a premium.
Now, with all that said, I wouldn't mind owning a 1990 1LE only because of it's rarity in numbers and the single RPO code that people cherish. The difference is that I want the car with the custom cloth interior and a few other amenities since I won't be racing it!
Drew isn't putting down the cars as much as he's speaking reality. He even mentioned it in his final post about trying to sell parts and such. If you go to the body, interior or appearance board, you'll see that his comments here are reflective of what others are doing with these cars. In reality, the 1LE are put on a pedestal sometimes equal to that of the old COPO cars. The difference is that there are no performance improvements with the 1LE as there are with the COPO, so it's not really the same. The only similarity is that the 1LE was designed as a track car and so was the COPO. Compare the 1LE to a standard Camaro with all of the performance goodies, then compare the GNX to a regular Grand National. The GNX had other improvements over the Grand National making it a "special" car, thus making it more valuable.
Also, as Drew states about the mileage, look at the 83 Trans Am on BJ. It's got low miles and was repainted 3x by high school students and had a lot of damage done to it over the years. It looks good now, but is it's history really as clean as someone would want when spending a ton of cash for a low mile car? The mileage needs to consistant with care and a multitude of other variables. Mileage alone should not be the only reason to pay a premium.
Now, with all that said, I wouldn't mind owning a 1990 1LE only because of it's rarity in numbers and the single RPO code that people cherish. The difference is that I want the car with the custom cloth interior and a few other amenities since I won't be racing it!
01-20-2011, 09:47 AM
#53
Re: Low Mileage thirdgens at Barrett Jackson
A TBI 305/Automatic in an RS or coupe, no. An LB9/T5 in a Z28/1LE/B4C, sure. Regardless, I don't think many 3rd gens will ever bring 54k again unless we wait a few more decades. This car was an anomaly. Realistically I would say mid 30s is what it deserved regardless of whether it was an L98 350/AT or an LB9 305/T5.
But like you said, it was an anomaly. That makes me really curious to see what the red one goes for now. I'd rather have the 10k red one because I could drive it to the cruise night once in a while and not feel horrendous.
And, like Scott, any $30k Camaro has to have Custom Cloth interior for me. The base interior just doesn't do it for me.
01-20-2011, 11:22 AM
#54
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Re: Low Mileage thirdgens at Barrett Jackson
The SPEED Channel has a live feed so when they do go to commercial, you can still see the auction.
01-20-2011, 11:40 AM
#55
Re: Low Mileage thirdgens at Barrett Jackson
The $60k 1LE really has a lot going for it to make it stand out from the pack, assuming you take the description seriously. Think about it. It's a 1990 Irocz 1LE, last year Iroc. It presents well, it's bright metallic blue, black interior, it's a beautiful car. The mileage is extremely low and in line with the cars condition (mint). It's fully documented, been well preserved, properly stored, and it has a history as magazine test car. When you roll all of that up with a Barret-Jackson "perfect storm" of well lubricated, middle aged money bags, the car was worth a premium on that day in history.
What this all reflects to me is that yes the value of these cars is going up. The fact that every car in this auction is closing higher then anyone expects is demonstrating that we need to change our expectations. I think it also shows that BJ is getting a higher caliber of cars, and the thirdgens are gaining appreciation. While that doesn't trickle down much, it's an indication.
What this all reflects to me is that yes the value of these cars is going up. The fact that every car in this auction is closing higher then anyone expects is demonstrating that we need to change our expectations. I think it also shows that BJ is getting a higher caliber of cars, and the thirdgens are gaining appreciation. While that doesn't trickle down much, it's an indication.
01-20-2011, 12:33 PM
#56
Supreme Member
Re: Low Mileage thirdgens at Barrett Jackson
What I'm curious about is if the 3rd gen will ever reach a point similar to some older Camaros...
For example, I can take a rusted out mess of a '69 Camaro SS (not just a COPO or Z or something) with 100k plus on the odometer, do an original restoration, and sell it for big bucks. Now those guys don't necessarily profit because restorations are expensive, but the point is I could still recoup significant money and the car, even though it has high mileage and at one point was a rust-bucket, is still desired.
So far, the big money 3rd gens are cars with rare and desirable options, very low mileage, interesting documented history, and mint condition. Will we reach a point where a mint restoration of, say, a regular IROC-Z with 140k on the ODO, will bring big money?
For example, I can take a rusted out mess of a '69 Camaro SS (not just a COPO or Z or something) with 100k plus on the odometer, do an original restoration, and sell it for big bucks. Now those guys don't necessarily profit because restorations are expensive, but the point is I could still recoup significant money and the car, even though it has high mileage and at one point was a rust-bucket, is still desired.
So far, the big money 3rd gens are cars with rare and desirable options, very low mileage, interesting documented history, and mint condition. Will we reach a point where a mint restoration of, say, a regular IROC-Z with 140k on the ODO, will bring big money?
01-20-2011, 01:30 PM
#57
Re: Low Mileage thirdgens at Barrett Jackson
The way things are now, it doesn't take much more then $10k to obtain sub-100k mile cars that don't need complete restorations. Those cars have to go away before the cars that need more work start to become attractive. Given the cheap nature of the majority of thirdgen enthusiasts, we have a very limited restoration aftermarket. Right now to restore a thirdgen, a person has to luck into nice used parts, or pull an Indiana Jones to find NOS parts and break the bank to purchase them. It's easier AND cheaper to just buy a nice one to begin with.
Thirdgens will NEVER have the kind of demand that the classic muscle cars had/have. First you've got to consider that after 1970 cars got slower, they got heavier, made less power, and had to conform to emissions standards, all of which made pre-1971 cars more desirable. Then you have to consider the baby boom. With a huge increase in the population born after 1945 you have a large number of potential buyers that were in their 20's when those cars were produced, you've got a ton of nostalgia and a large demand for a car that few people preserved.
By the time our cars came around, people were starting to see the future value of collectibles. Many of our cars were preserved in hopes of cashing in later. Cars that came after our cars, generally are faster, killing the demand for greater performance. Then you have to consider we (thirdgen enthusiasts) are smaller in numbers. There's no supply & demand booster for our cars.
01-20-2011, 01:59 PM
#58
Supreme Member
Re: Low Mileage thirdgens at Barrett Jackson
I disagee... Many 70s TAs are in 40K's and why? it is bacause the people who wanted them in HS get them when they retire. That will happen with ours too. we just have to age a bit... I had one in HS and bought one again.. I know I am not alone. I didnt pay top$$ due to I am in my early 40s. wait till I am in late 50s early 60s.. my peers will buy them. I just thought better now.. eventhough i have kids, I can afford..
01-20-2011, 02:16 PM
#59
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Re: Low Mileage thirdgens at Barrett Jackson
I disagee... Many 70s TAs are in 40K's and why? it is bacause the people who wanted them in HS get them when they retire. That will happen with ours too. we just have to age a bit... I had one in HS and bought one again.. I know I am not alone. I didnt pay top$$ due to I am in my early 40s. wait till I am in late 50s early 60s.. my peers will buy them. I just thought better now.. eventhough i have kids, I can afford..
01-20-2011, 06:07 PM
#60
Re: Low Mileage thirdgens at Barrett Jackson
The $60k 1LE really has a lot going for it to make it stand out from the pack, assuming you take the description seriously. Think about it. It's a 1990 Irocz 1LE, last year Iroc. It presents well, it's bright metallic blue, black interior, it's a beautiful car. The mileage is extremely low and in line with the cars condition (mint). It's fully documented, been well preserved, properly stored, and it has a history as magazine test car. When you roll all of that up with a Barret-Jackson "perfect storm" of well lubricated, middle aged money bags, the car was worth a premium on that day in history.
What this all reflects to me is that yes the value of these cars is going up. The fact that every car in this auction is closing higher then anyone expects is demonstrating that we need to change our expectations. I think it also shows that BJ is getting a higher caliber of cars, and the thirdgens are gaining appreciation. While that doesn't trickle down much, it's an indication.
What this all reflects to me is that yes the value of these cars is going up. The fact that every car in this auction is closing higher then anyone expects is demonstrating that we need to change our expectations. I think it also shows that BJ is getting a higher caliber of cars, and the thirdgens are gaining appreciation. While that doesn't trickle down much, it's an indication.
Sure it presents well, but being blue is no big deal in terms of value. The base interior is a turn off.Would you pay that money for the smaller brakes? Strip the 1LE package off and what's that car worth?
I don't know, I feel like whoever paid $60k got hosed (though they surely don't care). That's simply outrageous for that car IMO. Sure it's worth a bit more because it's a 1990, which had the lowest production numbers of Camaros in history, and maybe a little more for the magazine history (not really though) but at the end of the day it's a 305 IROC with 95 miles and an SCCA road-racing package.
I agree it's great to see these cars climbing in value, but I think at Barrett you've got cars going for excess of what their value is. But like you said, old moneybags, probably liquored up so they don't care.
Really curious to see what that red one brings now--that is the king daddy of all IROCs, and IMO can only be beat by a Firehawk or *maybe* a TTA but you really gotta love the TTA.
01-20-2011, 07:35 PM
#61
Re: Low Mileage thirdgens at Barrett Jackson
Is it worth $60k now? Tomorrow? Next week? Probably not, but it was yesterday to the two guys that bid it up that high. Is it really anything special? Well that depends on your view point. The high output 305 almost equals the 350 auto. You have to remember that HO 305 was the best engine available with a 5spd. For that reason the car is as good as it gets for someone who values the manual transmission. Is it worth that to me, hell no. I'm not even all that impressed by the car, but to the typical BJ market it probably seems a lot neater then it is in reality. We probably won't see another thirdgen sell for more anytime soon.
01-20-2011, 07:51 PM
#62
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Re: Low Mileage thirdgens at Barrett Jackson
This sums up the reason it sold for so much. At least 2 people think its worth that much. 1 person doesn't get the price up that high. As a 1990 1LE owner i couldn't be happier with the results!
01-20-2011, 08:47 PM
#63
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Re: Low Mileage thirdgens at Barrett Jackson
It's conceivably possible, but in order for that to happen, all the cars that are nicer then your example Camaro have to be more difficult to obtain. If BJ is an indicator, we can expect to see nice original cars go up in value. They have to go up in value to a point where the average person has no option but to start with a rusted out hulk.
The way things are now, it doesn't take much more then $10k to obtain sub-100k mile cars that don't need complete restorations. Those cars have to go away before the cars that need more work start to become attractive. Given the cheap nature of the majority of thirdgen enthusiasts, we have a very limited restoration aftermarket. Right now to restore a thirdgen, a person has to luck into nice used parts, or pull an Indiana Jones to find NOS parts and break the bank to purchase them. It's easier AND cheaper to just buy a nice one to begin with.
Thirdgens will NEVER have the kind of demand that the classic muscle cars had/have. First you've got to consider that after 1970 cars got slower, they got heavier, made less power, and had to conform to emissions standards, all of which made pre-1971 cars more desirable. Then you have to consider the baby boom. With a huge increase in the population born after 1945 you have a large number of potential buyers that were in their 20's when those cars were produced, you've got a ton of nostalgia and a large demand for a car that few people preserved.
By the time our cars came around, people were starting to see the future value of collectibles. Many of our cars were preserved in hopes of cashing in later. Cars that came after our cars, generally are faster, killing the demand for greater performance. Then you have to consider we (thirdgen enthusiasts) are smaller in numbers. There's no supply & demand booster for our cars.
The way things are now, it doesn't take much more then $10k to obtain sub-100k mile cars that don't need complete restorations. Those cars have to go away before the cars that need more work start to become attractive. Given the cheap nature of the majority of thirdgen enthusiasts, we have a very limited restoration aftermarket. Right now to restore a thirdgen, a person has to luck into nice used parts, or pull an Indiana Jones to find NOS parts and break the bank to purchase them. It's easier AND cheaper to just buy a nice one to begin with.
Thirdgens will NEVER have the kind of demand that the classic muscle cars had/have. First you've got to consider that after 1970 cars got slower, they got heavier, made less power, and had to conform to emissions standards, all of which made pre-1971 cars more desirable. Then you have to consider the baby boom. With a huge increase in the population born after 1945 you have a large number of potential buyers that were in their 20's when those cars were produced, you've got a ton of nostalgia and a large demand for a car that few people preserved.
By the time our cars came around, people were starting to see the future value of collectibles. Many of our cars were preserved in hopes of cashing in later. Cars that came after our cars, generally are faster, killing the demand for greater performance. Then you have to consider we (thirdgen enthusiasts) are smaller in numbers. There's no supply & demand booster for our cars.
In contrast, a 25 year old third gen is still low buck because tons of them were not only produced, but also preserved. Because of this, it will be quite a while before the supply diminishes to scarce levels.
01-20-2011, 09:00 PM
#64
Moderator
Re: Low Mileage thirdgens at Barrett Jackson
You also have to look at the time it sold. It sold during prime time so the big shots were there to buy the prime time cars. The red one sold today for considerably less. Granted it had more miles, but 50% less for the same year car in similar condition? The engine in the red car was also the 350 auto, so maybe this is good news for the HO 305/ manual cars. I think part of the ticket is to get the car sold during prime time, not early in the day like they usually do for these cars.
01-20-2011, 10:00 PM
#65
Re: Low Mileage thirdgens at Barrett Jackson
What is the difference between selling the cars during prime time or during the day?
I'm not too familiar with how Barrett works, do they put the most desirable cars up at certain times, attracting certain old money to drive the prices higher?
Whoever got that red one absolutely stole it @ $27,500 in my opinion. That seems a good $7k-$8k less than I expected. Hard to believe it even went for less than that '86; whoever bought the '86 probably kicked themselves when the hangover kicked in.
I'm just astonished at what each of those three cars brought. The one I thought would be king (despite the "high" mileage) went for way less than either of the other two, which IMO were lesser cars. While there is something to be said about a 5 speed in a 1LE and the importance of a five speed in a car designed for SCCA events, I still can't get over the fact that the red one didn't at the very least sell for a similar price as the blue one...or at least beat out the lowly '86.
One positive about this is that it gives our cars exposure; when other old money sees that these cars are bringing deep five figures, the value of our cars may start to be understood as the next generation of collectibles, and values may begin to be driven up for low mileage originals. Really wish I was back at home with a garage so I could add a low mileage '90 IROC to it.
Pretty fascinating. Would love to see what a Firehawk would bring there. Half the people there probably wouldn't even be cogent to their existence.
I'm not too familiar with how Barrett works, do they put the most desirable cars up at certain times, attracting certain old money to drive the prices higher?
Whoever got that red one absolutely stole it @ $27,500 in my opinion. That seems a good $7k-$8k less than I expected. Hard to believe it even went for less than that '86; whoever bought the '86 probably kicked themselves when the hangover kicked in.
I'm just astonished at what each of those three cars brought. The one I thought would be king (despite the "high" mileage) went for way less than either of the other two, which IMO were lesser cars. While there is something to be said about a 5 speed in a 1LE and the importance of a five speed in a car designed for SCCA events, I still can't get over the fact that the red one didn't at the very least sell for a similar price as the blue one...or at least beat out the lowly '86.
One positive about this is that it gives our cars exposure; when other old money sees that these cars are bringing deep five figures, the value of our cars may start to be understood as the next generation of collectibles, and values may begin to be driven up for low mileage originals. Really wish I was back at home with a garage so I could add a low mileage '90 IROC to it.
Pretty fascinating. Would love to see what a Firehawk would bring there. Half the people there probably wouldn't even be cogent to their existence.
01-20-2011, 11:28 PM
#66
Re: Low Mileage thirdgens at Barrett Jackson
On second thought... I can't sleep, so I'll go ahead and waste some time supporting my argument.
Anyone with questions about the legality of changing an odometer should research the law behind odometer fraud. Specifically you'll want to check your local DMV's website, and research the Federal Truth in Mileage Act. The TiMA can be reviewed online at http://codes.lp.findlaw.com/uscode/49/VI/C/327/32701
To paraphrase, here are the important parts and what they mean...
Then on the next page you'll see the really important part, which is relevant to what I did...
If you actually read the law, instead of spouting off like an idiot and calling out a seasoned member in public, you'll see by the wording that it mostly applies to dealers, auction companies, distributors, etc. And also that setting the odometer on a replacement part to match the original odometer is completely permissible.
In addition Kansas and South Dakota Odometer law both state that no crime is committed if the odometer shows the same mileage after repair as it did before repair. Further, Kansas feels that any vehicle more then 10 years doesn't apply. I believe the same to apply in the state of South Dakota, but I'm not going to waste my time finding the code.
Moving on...
I understand the effect mileage has on car values. That's not the point. The point is that mileage is only important under certain conditions. True condition means much more then a silly number on a dash. A car with 10,000 miles on the odometer can be totaled, rebuilt, have the title washed and be resold as "Actual miles!", but it's still a once wrecked car. The mileage as reflected by the odometer can be easily changed. Regardless of legal issues, people will still swap an 85mph cluster for a 140mph cluster without a second thought about the law. The trick is to see past the odometer and look at the cars true condition before paying a premium.
I don't put thirdgens down. I share my honest opinion, and while I'm not always a glass half full kinda guy, my opinion still has as much right to be here as anyone else's. I think 1LE's have a halo around here (and in car magazines, and other forums), and in reality they're just a G92 car with big brakes and no air conditioning. Sorry, I'm not impressed. I'll turn off my A/C and run the same times or better down the dragstrip in my $4,500 Formula as the $60k 90 1LE in this thread. Except I can actually drive my Formula in November and if I get caught in a winter storm I'm not destroying my investment.
Many things affect the value of thirdgens, my comments here on this forum are the least of which. I could say that every one of these cars is worth a million dollars, and that super clean examples are as rare as hen's teeth, but the truth is undeniable. I'm really sorry you don't share my opinion, and can't respect my opinion, but I'm not going to change my opinion or how I conduct myself on this forum so you can feel good about yourself. If it pains you so much to read what I have to say, don't read it. You can't change my opinion, but you can put me on your ignore list, or just close the window.
For the record, I enjoy Thirdgens. I just don't enjoy them so much that I get the rose colored glasses effect. If you want a crash course in reality, go ahead and try to sell a decent thirdgen, or strip a parts car on it's way to the crusher, list the parts for sale, and just see for yourself how other people value your stuff.
Anyone with questions about the legality of changing an odometer should research the law behind odometer fraud. Specifically you'll want to check your local DMV's website, and research the Federal Truth in Mileage Act. The TiMA can be reviewed online at http://codes.lp.findlaw.com/uscode/49/VI/C/327/32701
To paraphrase, here are the important parts and what they mean...
Then on the next page you'll see the really important part, which is relevant to what I did...
If you actually read the law, instead of spouting off like an idiot and calling out a seasoned member in public, you'll see by the wording that it mostly applies to dealers, auction companies, distributors, etc. And also that setting the odometer on a replacement part to match the original odometer is completely permissible.
In addition Kansas and South Dakota Odometer law both state that no crime is committed if the odometer shows the same mileage after repair as it did before repair. Further, Kansas feels that any vehicle more then 10 years doesn't apply. I believe the same to apply in the state of South Dakota, but I'm not going to waste my time finding the code.
Moving on...
I understand the effect mileage has on car values. That's not the point. The point is that mileage is only important under certain conditions. True condition means much more then a silly number on a dash. A car with 10,000 miles on the odometer can be totaled, rebuilt, have the title washed and be resold as "Actual miles!", but it's still a once wrecked car. The mileage as reflected by the odometer can be easily changed. Regardless of legal issues, people will still swap an 85mph cluster for a 140mph cluster without a second thought about the law. The trick is to see past the odometer and look at the cars true condition before paying a premium.
I don't put thirdgens down. I share my honest opinion, and while I'm not always a glass half full kinda guy, my opinion still has as much right to be here as anyone else's. I think 1LE's have a halo around here (and in car magazines, and other forums), and in reality they're just a G92 car with big brakes and no air conditioning. Sorry, I'm not impressed. I'll turn off my A/C and run the same times or better down the dragstrip in my $4,500 Formula as the $60k 90 1LE in this thread. Except I can actually drive my Formula in November and if I get caught in a winter storm I'm not destroying my investment.
Many things affect the value of thirdgens, my comments here on this forum are the least of which. I could say that every one of these cars is worth a million dollars, and that super clean examples are as rare as hen's teeth, but the truth is undeniable. I'm really sorry you don't share my opinion, and can't respect my opinion, but I'm not going to change my opinion or how I conduct myself on this forum so you can feel good about yourself. If it pains you so much to read what I have to say, don't read it. You can't change my opinion, but you can put me on your ignore list, or just close the window.
For the record, I enjoy Thirdgens. I just don't enjoy them so much that I get the rose colored glasses effect. If you want a crash course in reality, go ahead and try to sell a decent thirdgen, or strip a parts car on it's way to the crusher, list the parts for sale, and just see for yourself how other people value your stuff.
I agree but everyone has their opinion. No harm, no foul!!
Down here in Central Texas it is more Classic and newer mustangs but with the newer camaro they are everywhere.
I do own a 67 charger with a 440 and this is not MOPAR country. I think that is more midwest.
Not many people still do not respect 3rd gen f bodies here but I do get a compliment every once in awhile.
Shoot, I almost break my neck when I see one on the road.
No changing your opinion but just giving my thoughts. Been around these cars since they were new and was around most of the Texas DPS B4C's since I lived a block away in the early 90's from DPS.
No hard feelings.
Just hoping are cars get more respect. Tired of seeing the 1st gens at every car show getting every award. Nothing wrong with that and I love 1st gen f bodies but this has been going alot here in central for the last 10+ years.
Most people here have no idea about cars or even know what a 3rd gen camaro or firebird is. Very non informative group imo.
As for that, the 3rd gen I would want is a 92 B4C. Ultimate 3rd gen IMO.
Cheap for now and fun cars.
Crap why did I sell my 92 Heritage 92 Z28!!!
01-21-2011, 12:12 AM
#67
Re: Low Mileage thirdgens at Barrett Jackson
I think things are looking up a bit. But only time will tell. I've noticed my cars get more attention now then they have in the past.
My personal opinion is that the red 1LE was really overshadowed by the blue 1LE. Aside from being red (an instant turn off for some people) it had 10 times the mileage, and wasn't quite as nice. But more then that, maybe the other guy that might have bid it up higher got his 1LE Iroc yesterday. If there was a third one in the auction and it was the best of the bunch, it'd probably go for even less because two bidders are already out of the action.
My personal opinion is that the red 1LE was really overshadowed by the blue 1LE. Aside from being red (an instant turn off for some people) it had 10 times the mileage, and wasn't quite as nice. But more then that, maybe the other guy that might have bid it up higher got his 1LE Iroc yesterday. If there was a third one in the auction and it was the best of the bunch, it'd probably go for even less because two bidders are already out of the action.
01-21-2011, 10:17 AM
#68
Moderator
Re: Low Mileage thirdgens at Barrett Jackson
There is a big difference in the timing the cars hit the block. The big spenders are looking for special cars and BJ usually has them in the evening. If you look at their daily schedule of cars, you'll see that this weekend is loaded with 1st gen Camaros and other older Muscle cars. The big money comes out late in the day, not early. Send a car through early and it will sell for peanuts. BJ set up the auction this way. Look at what they sell during the day!
On a different note, I bought a 69 Z28 in 1999. I paid $11k for it. It needed some work, but I drove it and it looked good from 10 feet. (bought it from "Sergei" on HBO's "The Wire" before he was Sergei, Chris Ashworth) I found it in CA on vacation. While there, I also found a frame off restored 69Z28 RS. The car looked brand new and had a temp tag on it. I asked the lady that was driving the car what it costs and she said she paid $21k for it. Complete frame off resto!!! I also found a 69 Z28 down the road from me with the original 302. The guy said he wouldn't take less than $14k. It was a mint original car and needed only a few cosmetic touchups to be perfect. Sorry, but that was out of my budget at the time.
What I'm saying is that when the 69Z was 30 years old, they were still priced fairly. Granted, they cost $4k-$5k loaded when new and tripled their value in 30 years, but the cost in relation to other cars was not out of line in '99. If my car comes in at $60k in 2017, I'd be elated!!! But it ain't for sale anyways.
On a different note, I bought a 69 Z28 in 1999. I paid $11k for it. It needed some work, but I drove it and it looked good from 10 feet. (bought it from "Sergei" on HBO's "The Wire" before he was Sergei, Chris Ashworth) I found it in CA on vacation. While there, I also found a frame off restored 69Z28 RS. The car looked brand new and had a temp tag on it. I asked the lady that was driving the car what it costs and she said she paid $21k for it. Complete frame off resto!!! I also found a 69 Z28 down the road from me with the original 302. The guy said he wouldn't take less than $14k. It was a mint original car and needed only a few cosmetic touchups to be perfect. Sorry, but that was out of my budget at the time.
What I'm saying is that when the 69Z was 30 years old, they were still priced fairly. Granted, they cost $4k-$5k loaded when new and tripled their value in 30 years, but the cost in relation to other cars was not out of line in '99. If my car comes in at $60k in 2017, I'd be elated!!! But it ain't for sale anyways.
Last edited by scottmoyer; 01-21-2011 at 10:25 AM.
01-21-2011, 12:25 PM
#70
Supreme Member
Re: Low Mileage thirdgens at Barrett Jackson
So by the time my car is actually worth $30k+, it won't be because I'll have put too many miles on it... 
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