SOHC "Cammer" CSX 4786 No Reserve in Monterey

[Got the Bug]

Originally Posted by RodKnock

Over on the GT40's Forum, there's a large thread on an RCR SL-C (Superlite Coupe) which was being auctioned off Saturday night too. I believe the old asking price was $250K, but on Saturday night it sold for $96,000. Tough crowd. Sounds like great deals were available.

If you're buyer, go to a no reserve auction. If you're a seller, find a reserve auction.

[Jamo]

Originally Posted by twin turbo

How much did the Kirkhams sell for to compare?

A polished/satin stripe S/C (not sure of the motor other than it was a "427" per the auctioneer) went for $107k...on Friday night at Russo.

[Rick Parker]

I was at Mecham's Auction Saturday until the last car ran. When we first arrived the High point car was nearing auction, 917-30 Can Am car, what a beast. It sold for over 5 million. A real nice Blue 289 sold at $600K. It was exciting to see and feel the electric atmosphere. Bumped into an had a short chat with Barry Wyse from the Tv series Storage Wars, What a charachter he is. A lot of cars didn't reach reserve and rolled off unsold. in the last hour or so there were 3 gorgeous Can Am cars, an Orange McLaren, Black Shadow and a Red Lola (I think?) in addition to the 917 Porsche. One or more of them didn't make reserve either.

[RodKnock]

Originally Posted by Jamo

A polished/satin stripe S/C (not sure of the motor other than it was a "427" per the auctioneer) went for $107k...on Friday night at Russo.

Maybe the drunks liked the "shiny looking object" on stage better than Bill's black CSX with the Cammer.

[rpatton3]

Did the SOHC CSX sell? I thought it was a no reserve.

I don 't know if a Boss 429 would fit but the chronology would be wrong.
Maybe not for a continuation car but you know what I mean. The Boss 429 did not appear until until 1969 and the pushrod 427 engines were used as late as 1968 in W code Cougar GT-E models.

The CSX with a real SOHC would be cool and possibly a ***** to maintain.

Russell

[rpatton3]

Originally Posted by Jamo

A polished/satin stripe S/C (not sure of the motor other than it was a "427" per the auctioneer) went for $107k...on Friday night at Russo.

The auction site said it was a "date correct" 428 PI.

[bmalone]

Actually, I was pretty happy with the results. We all have a different mindset when we go into these things and there are things that people don't know about a given car.

I was hoping for 135 and I did think I had a realistic chance to get it. In my case, the no reserve auction was the correct method. I was not bringing the car back, I had a great run time (by virtue of NR), and I had lots of interested bidders.

What I noticed was that values were off about 20% across the board and that was kind of my expectation initially, borne out by what I saw. So, the 110 was consistent with a 20% haircut.

I think the one thing you all do not know about the car is that it cost exactly 81K to put on the road. So, you can see why I was happy and why I also chose a NR auction.

I will say I was happy with the promotion R&S did on the car. Like every car across the block, I felt not enough time was given - and I definately felt there were more dollars left before I had to leave. I was told they would shoot for 135 and was a little disappointed they didn't do more to close in on that number. But, as I said, I was treated the same way as everyone else and I understand they have an auction to run.

Not to mention, the process from the staging line onward was tremendously exciting and I had a fantastic weekend with good buds.

[PatBuckley]

Kind of like the feeling you get in your stomach the days before a big race, eh, Bill?

I watched the auction and have to say I was nervous for you!

[bmalone]

Exactly like that.

[mhacars]

Bill,

I am glad to see that your expectations were met and that your build cost was at a significant discount to what a lot of these cars cost to construct. It makes me think about my cars as my CSX cost significantly more to create back in 2006. As well, I am now deep into a Shelby GT40 Cammer project and although I did not buy these cars for investment purposes it makes me wonder if I ever want to sell these items what the market value will be in relation to my costs. This is especially true when I hear of a Superformance GT40 costing in excess of $200K to build sells for $60K. No one has a crystal ball about future market value, but it makes you think perhaps you buy a pre-owned car and make it your own as opposed to starting from the ground up.

[RodKnock]

Originally Posted by mhacars

This is especially true when I hear of a Superformance GT40 costing in excess of $200K to build sells for $60K.

The SPF GT40 sold for $64,000 plus the commission or about $70,000. Also, it was a MKII, which tend to be less desirable than a MKI IMHO.

One theory being postulated is that continuation series cars and replicas of any kind tend to do poorly at auction especially when the Monterey auctions where they don't get top billing because of all the expensive original period cars.

[mhacars]

RodKnock,

That is a good point and I agree to some degee. Unfortunately, prospective buyers use previous sales as a yardstick for their perception of market value. Sometimes that works to the benefit of the seller and sometimes it does not. In any event, I feel for the guy who sold that GT 40 especially since mine is a MKII......

[RodKnock]

Originally Posted by mhacars

RodKnock,

That is a good point and I agree to some degee. Unfortunately, prospective buyers use previous sales as a yardstick for their perception of market value. Sometimes that works to the benefit of the seller and sometimes it does not. In any event, I feel for the guy who sold that GT 40 especially since mine is a MKII......

You have a good point too, but the counter point to some future buyer of your car or any MKII is "Then you can always buy a new roller ordered to your specs for an MSRP of $86,000 or you can buy this one here now on sale for $74,000, but you have to like yellow with meatballs....."

1966 New Superformance GT40 Mark II at Dynamic Auto West Serving Redwood City, CA, IID 7725357

BTW, the MKII that sold in Monterey had an unknown SBF in it, when it should have had an FE, and it was an early car and with only 50 miles on it, and will likely have a few sorting issues to keep the new owner busy. Still a good deal nonetheless.

[mhacars]

Who knows what the future will bring. Perhaps given the rate that they produce GT40's they may stop making them as they may not be economically feasible and now that Shelby has moved on the CSX production may not continue forever. The laws of supply and demand. Hopefully, demand will prevail.

[decooney]

I was down the road at another location and my cousin from Maryland was there at the R&S auction texting me about Bill's car as it was sitting at 110. My cousin texted me a few times back and forth asking "whats it worth" as if he was sort of interested. He was commenting on the car and how nice it was. I relayed to him that "what it will go for" all depends on who's there bidding at that moment and if more than one person really wants it or not. Wished I could have seen it and been there at that moment with him while the bidding was going on. I noticed a different sort of vibe about the auctions and scene downtown as compared to prior years - not that it was bad, it was just different or not as lively. Seeing the Cobra Transporter in front of RM Friday night was fun. Saw some cars at RM go sort of high and yet there complaints that RM was not as good this year. It was okay when I was there Friday night. Afterwards we kept hearing from a few other friends that that Mecum was better this year yet it was held during the day time while the major events were going on - strange. Almost appeared as if the auction scene as a whole in Monterey was kind of sprinkled all around at different places versus going to "the place" to see the best cars. I would have been nervous with a no-reserve car this past weekend for sure.

[Jamo]

Tell ya what, Duane, I was on the floor with him and I think I was more nervous than he was. Assolutely one of the most tense venues I've ever been involved with (and I'm constantly in tense situations).

Tough to watch it go...we followed Bill's build from the beginning and watched him sweat the small stuff over every detail. The buyer will never know what an excellent car he bought, inside and out.

[stimpy]

Did anybody see where the no reserve 428 Kirkham sold for on Saturday morning?

[RodKnock]

Originally Posted by stimpy

Did anybody see where the no reserve 428 Kirkham sold for on Saturday morning?

Page 6, previous page, Jamo mentioned that a Kirkham (a couple posts later found to be a 428) was sold for $107,000 Friday night. No one has mentioned a Kirkham auctioned Saturday morning.