auction caution
#1
Racer
Thread Starter
auction caution
Last night I was partially watching Barrett Jackson which is becoming a little too much fluff circus for me (could Carroll Shelby sign or produce 1 more thing? ) Up on the block comes an 87 /930 with only 46K miles. Looked to be in good shape and very stock..and it fluttered to the ground in the low $30s with very little interest. It was the second night of the auction which means there were about 6 people in the audience.. but still. The next car was a 1968 Camaro RS,SS with a non spectacular small block, 4 speed and it was in the high $70K.. I had one of those(well, a 69) when it was new and it was mediocre at best..RS,SS were trim and option designations..really meaningless and the car was getting big money. It was not fast and not fun
What I am getting at is the 930 as far as I am concerned is starting to get discovered.. Excellence just did a piece about a 79 possible being the next Carrera RS hence valuable. Classic Motorsports has it as one of their top picks for appreciation and they are thinking the worth now is $50K (I have been offered that and more by a guy that followed me into a store from the parking lot) The point is if you are going to auction the car be judicious and set a reserve and be really smart and go to RM or Gooding something in that league, (not Russo and Steele) I would pick Amelia Island as the venue or Monterey . Although, believe it or not , Mecum moved one for about $50K in Dallas. They are getting much more money in Europe and they are becoming less available over there (at least the good ones). Of course, the best option as far as I am concerned is just keep it and enjoy the Hell out of it.
What I am getting at is the 930 as far as I am concerned is starting to get discovered.. Excellence just did a piece about a 79 possible being the next Carrera RS hence valuable. Classic Motorsports has it as one of their top picks for appreciation and they are thinking the worth now is $50K (I have been offered that and more by a guy that followed me into a store from the parking lot) The point is if you are going to auction the car be judicious and set a reserve and be really smart and go to RM or Gooding something in that league, (not Russo and Steele) I would pick Amelia Island as the venue or Monterey . Although, believe it or not , Mecum moved one for about $50K in Dallas. They are getting much more money in Europe and they are becoming less available over there (at least the good ones). Of course, the best option as far as I am concerned is just keep it and enjoy the Hell out of it.
#2
The BJ crowd is primarily muscle and vintage car people. I've never seen a Porsche do well there. Even the Ferraris seem to go lower than they should. I don't get excited at the prices at their actions. I definitely agree with your last statement, I'll never sell mine.
#3
Rennlist Member
You are correct that Porsche's generally do not get much attention at BJ. It is hit or miss as to whether or not the seller gets a decent price for the car. I tried to buy a 1989 Turbo Cab at BJ back in 2008 but it sold for $50K which was a little above my "walk away" #. The car from last night was hammered at $35K which means the buyer ended up paying $38,500 to drive it away when you add the 10% “Buyers Premium”. Seems like a very good deal to me and if I was there last night I probably would have been bidding at that level. I am sure the seller is disappointed since after Sellers commission & entry fee he probably netted about $31,700. Add to that his cost of transporting it to the auction, detailing, etc. and it is pretty ugly.
BTW There were a LOT more than 6 people in the bidder area at the time it crossed the block. Attendance (both bidders and spectators) has been very strong for the first few days.
BTW There were a LOT more than 6 people in the bidder area at the time it crossed the block. Attendance (both bidders and spectators) has been very strong for the first few days.
#5
I think Barrett Jackson looks their cars over pretty well, so that 930 was probably a fairly decent car. IMHO the buyer got a good deal even with the 10% buyers premium if there are no hidden flaws. I agree that it always seems to be a muscle car auction - a yellow '67 RS Camaro went for over $70K !! Not a z28 or SS, but an RS - thats not even a muscle car !!
#6
Addict
Rennlist Member
Rennlist Member
My first car,69 RS/SS and I could fit in the back seat with a girl,now prbably not fit alone !
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#8
Thinking outside da' bun...
Lifetime Rennlist
Member
Lifetime Rennlist
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BJ Called it one of the Top 5 Buys of the Day.
#10
Thinking outside da' bun...
Lifetime Rennlist
Member
Lifetime Rennlist
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BJ car was an 87 I believe.
#12
Late Porkchops
Rennlist Member
Rennlist Member
Anytime I get into a bid it always, and I mean always, goes up another 1,000. Then I go another 1,000 and then ............. it happens everytime. Then I will lose out for $500 at only $75,000 or something. I can almost guarantee that if that had been the 930 I wanted it would only be me and the one other guy there that was absolutley determined to buy that car, and only that car, for any price. The sellers and BJ should invite me to the auctions LOL !
#13
uninformed gas bag
(contemplating on whether gas bag is one or two words)
Rennlist Member
(contemplating on whether gas bag is one or two words)
Rennlist Member
Anytime I get into a bid it always, and I mean always, goes up another 1,000. Then I go another 1,000 and then ............. it happens everytime. Then I will lose out for $500 at only $75,000 or something. I can almost guarantee that if that had been the 930 I wanted it would only be me and the one other guy there that was absolutley determined to buy that car, and only that car, for any price. The sellers and BJ should invite me to the auctions LOL !
#14
Racer
Thread Starter
Talk about auction news: The Drendel collection is going on the block at Amelia..check out the RM site for details (but try not to drool on the screen) absolutely, wonderful. I am thinking of going up there just to see it all together. All things Porsche Turbo...a collection all about the boost.