Notices
928 Forum 1978-1995
Sponsored by:
Sponsored by: 928 Specialists

Mecum Auction: '89 5 speed w/ 16K Miles - SOLD: $50,000

Thread Tools
 
Search this Thread
 
Old 05-16-2014, 05:32 PM
  #46  
Chuck Z
Addict
Rennlist Member

 
Chuck Z's Avatar
 
Join Date: May 2002
Location: Venice, FL
Posts: 3,782
Received 53 Likes on 25 Posts
Default

Hello all, been a long time.... Hope everyone is well.

I am outing myself as a bidder on this car and thought I would pass along what I have learned doing my due diligence on this car. I spoke to the owner and had someone look at it for me using my paint meter.....

FWIW, anyone bidding with the intention of reselling it should know that it's had some paint work (paint meter readings on the right rear quarter panel starting at the top of the B pillar down to just below the body side moldings were ~22 mils +/-, the rest of the car appears to be original with readings between 4.0+ and ~8.x +/-), the rear bumper cover has been replaced bc according to the seller he was "tapped" by another car, the timing belt and water pump we're replace ~8-9 years ago so that will need to be done as well and the tires are an off brand he put on bc he knew it was going to be stored for an extended period of time. Still a nice car no doubt but, the paint work and the non-original bumper cover (the replacement will NOT have the VIN tag like the rest of the original body panels....) WILL affect resale $ IF disclosed.

FWIW, I talked to the seller.

Good luck.
Old 05-16-2014, 05:39 PM
  #47  
Randy V
Addict
Lifetime Rennlist
Member
 
Randy V's Avatar
 
Join Date: Jun 2000
Location: Insane Diego, California
Posts: 40,449
Received 98 Likes on 66 Posts
Default

Hey, Chuck - good to see ya!

Might you be adding a 928 to your sig profile soon? Any guesses what this one will go at?



How's that Aston Martin treating you?
Old 05-16-2014, 06:09 PM
  #48  
outsider
Banned
 
outsider's Avatar
 
Join Date: Aug 2010
Posts: 23
Likes: 0
Received 0 Likes on 0 Posts
Default

I live in Indy and will be bidding on this one tomorrow. I appreciate Chuck (or his associate) checking out the car in person. Nice to know about the paintwork, but I've been specifically looking for a very low mileage '89 only GT for the last 3-4 years now. Red was my second choice of color, so it will have to do. I'm throwing everything I've got at it (mid-$50K's range). I have doubts that will be enough to own it, but I'm crossing my fingers I get lucky on this one. I won't get much sleep tonight in anticipation

Scott
Old 05-16-2014, 06:32 PM
  #49  
Chuck Z
Addict
Rennlist Member

 
Chuck Z's Avatar
 
Join Date: May 2002
Location: Venice, FL
Posts: 3,782
Received 53 Likes on 25 Posts
Default

Originally Posted by Randy V
Hey, Chuck - good to see ya!

Might you be adding a 928 to your sig profile soon? Any guesses what this one will go at?



How's that Aston Martin treating you?
Hey Randy! Thx! Aston has been sold, now in Chicago.... Based on the post above I won't be adding a 928..... If it didn't have the negatives I might have been?
Old 05-16-2014, 06:39 PM
  #50  
Chuck Z
Addict
Rennlist Member

 
Chuck Z's Avatar
 
Join Date: May 2002
Location: Venice, FL
Posts: 3,782
Received 53 Likes on 25 Posts
Default

Originally Posted by outsider
I live in Indy and will be bidding on this one tomorrow. I appreciate Chuck (or his associate) checking out the car in person. Nice to know about the paintwork, but I've been specifically looking for a very low mileage '89 only GT for the last 3-4 years now. Red was my second choice of color, so it will have to do. I'm throwing everything I've got at it (mid-$50K's range). I have doubts that will be enough to own it, but I'm crossing my fingers I get lucky on this one. I won't get much sleep tonight in anticipation

Scott
....enjoy the car! If it goes for that much (mid $50k's) I'll be really surprised.... Even more surprised if it gets anywhere close to what the seller expects ($100k) It's a special car but, not that special.... With all that I found with this car there is no way I'd pay anywhere near that for it. Willhoit had a blk/blk 89GT last summer for less then your willing to pay for this one? You'll be getting awfully close to GTS money by the time you do the deferred maintenance..... Best of luck.
Old 05-16-2014, 06:41 PM
  #51  
James Bailey
Addict
Lifetime Rennlist
Member
 
James Bailey's Avatar
 
Join Date: Feb 2009
Posts: 18,061
Likes: 0
Received 8 Likes on 6 Posts
Default

I am guessing it will stall out at $35K ....... which is a long way from $100,000 !
Old 05-16-2014, 06:52 PM
  #52  
outsider
Banned
 
outsider's Avatar
 
Join Date: Aug 2010
Posts: 23
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by Chuck Z
....enjoy the car! If it goes for that much (mid $50k's) I'll be really surprised.... Even more surprised if it gets anywhere close to what the seller expects ($100k) It's a special car but, not that special.... With all that I found with this car there is no way I'd pay anywhere near that for it. Willhoit had a blk/blk 89GT last summer for less then your willing to pay for this one? You'll be getting awfully close to GTS money by the time you do the deferred maintenance..... Best of luck.
Thanks Chuck! I was out of the country when the Willhoit car became available or I would have owned it. Black was my # 1 choice. I can't remember the miles exactly on the Willhoit car, but I thought it was somewhere north of 20K. ???
Old 05-16-2014, 06:55 PM
  #53  
Chalkboss
Rennlist Member
 
Chalkboss's Avatar
 
Join Date: Oct 2012
Location: California
Posts: 2,400
Received 184 Likes on 115 Posts
Default

I would be very surprised to see it hit 50. This is Mecum... not a good venue for a 928 in my opinion.
Old 05-16-2014, 06:58 PM
  #54  
Chuck Z
Addict
Rennlist Member

 
Chuck Z's Avatar
 
Join Date: May 2002
Location: Venice, FL
Posts: 3,782
Received 53 Likes on 25 Posts
Default

Originally Posted by outsider
Thanks Chuck! I was out of the country when the Willhoit car became available or I would have owned it. Black was my # 1 choice. I can't remember the miles exactly on the Willhoit car, but I thought it was somewhere north of 20K. ???
Mileage was ~19k. I knew that car really well.....
Old 05-16-2014, 07:04 PM
  #55  
Chuck Z
Addict
Rennlist Member

 
Chuck Z's Avatar
 
Join Date: May 2002
Location: Venice, FL
Posts: 3,782
Received 53 Likes on 25 Posts
Default

Originally Posted by Chalkboss
I would be very surprised to see it hit 50. This is Mecum... not a good venue for a 928 in my opinion.
Well, you have an individual here who says he'll go to mid $50k's and I know of at least one and maybe two other bidders who are in until it hits high $40k's.... Not going to say when I'm out but, it will be b/f mid $50k's. Those that have known me know I'm all about higher values for the 928 but, there is a point when even a really nice example doesn't make sense. Anything north of $50k doesn't make sense on this one.... Just sayin

[edit] ....actually, anything north of mid $40k's doesn't make sense on this car.
Old 05-16-2014, 07:52 PM
  #56  
James Bailey
Addict
Lifetime Rennlist
Member
 
James Bailey's Avatar
 
Join Date: Feb 2009
Posts: 18,061
Likes: 0
Received 8 Likes on 6 Posts
Default

And when GTs are bringing $100,000 plus we can all say "I remember when "
Old 05-16-2014, 08:15 PM
  #57  
ptuomov
Nordschleife Master
 
ptuomov's Avatar
 
Join Date: Jan 2009
Location: MA
Posts: 5,610
Received 81 Likes on 64 Posts
Default

Originally Posted by Chuck Z
FWIW, anyone bidding with the intention of reselling it should know that it's had some paint work (paint meter readings on the right rear quarter panel starting at the top of the B pillar down to just below the body side moldings were ~22 mils +/-, the rest of the car appears to be original with readings between 4.0+ and ~8.x +/-), the rear bumper cover has been replaced bc according to the seller he was "tapped" by another car, the timing belt and water pump we're replace ~8-9 years ago so that will need to be done as well and the tires are an off brand he put on bc he knew it was going to be stored for an extended period of time. Still a nice car no doubt but, the paint work and the non-original bumper cover (the replacement will NOT have the VIN tag like the rest of the original body panels....) WILL affect resale $ IF disclosed.
Ok, so if it's not perfect then there's no reason for me to buy it for another twin turbo hot rod project! Where's my phone? ;-)
Old 05-17-2014, 03:38 PM
  #58  
Range Rover
Burning Brakes
 
Range Rover's Avatar
 
Join Date: Jul 2008
Location: Virginia Beach
Posts: 865
Received 229 Likes on 65 Posts
Default

Sold for $50K.
Old 05-17-2014, 03:39 PM
  #59  
linderpat
Rennlist Member
 
linderpat's Avatar
 
Join Date: Nov 2006
Location: Pittsburgh, PA
Posts: 14,475
Received 2,385 Likes on 1,294 Posts
Default

wow; Outsider - did you get it?
Old 05-17-2014, 03:40 PM
  #60  
JWise
Rennlist Member
 
JWise's Avatar
 
Join Date: Dec 2003
Location: Oklahoma
Posts: 2,712
Received 217 Likes on 74 Posts
Default

Originally Posted by Range Rover
Sold for $50K.
Wonder who got it? In addition to Chuck Z and Outsider, Todd Johnson (aka Low Miler) was going to bid.
Attached Images  


Quick Reply: Mecum Auction: '89 5 speed w/ 16K Miles - SOLD: $50,000



All times are GMT -3. The time now is 06:52 PM.