Is the Backdraft market soft?

[hauss]

50-65k for a newish backdraft is what you should be looking at I spent two years searching for the right one. not all are equal. you will find you get what you pay for that is what I found.

[KDubU]

I agree about a buyer’s market. There is some uncertainty about what will happen with the economy over the next 2-3yrs and indicators are not good. Some people will be liquidating luxuries they don’t really need and yes will take a “loss” but having liquidity is sometimes more important. At $43k and some change it appears to be a good purchase for the buyer. As for the OP wanting $55k, shine her up, take good pics and ask $59,900. If your BDR is the right color, right drivetrain and in very good condition, you will get a buyer.

[66AC]

If you consider the typical Cobra or performance car purchaser, he or she needs a garage to house the car(s), then this leads to a specific economic strata of home owners and/or renters who have excess storage space and income.

If you take a look at the 20-35 year old generation, you might find that home ownership with automobile storage space is not common. These folks tend to be apartment renters from what I have seen.

It would be interesting to do a survey of pre-requisites prior to purchasing a performance car that is not used for daily transportation duties.

[66gtk]

So the OP wants $55K for a car he self-admits does not present as well as the one recently sold on BaT for about 10K less. I don't think asking more than his target range will get the result he wants. I think a realistic appraisal and adjustment of expectations may be a better approach.

[patrickt]

Originally Posted by KDubU

I agree about a buyer’s market. There is some uncertainty about what will happen with the economy over the next 2-3yrs and indicators are not good. Some people will be liquidating luxuries they don’t really need and yes will take a “loss” but having liquidity is sometimes more important.

I think that's kind of right, but I also think that there is a huge difference between the "buy it new" crowd and the "buy it used" crowd. There is a two year wait to get your turnkey from ERA, and you will be dropping six figures to do it. KMS is expanding their shop and has no problem finding buyers for an "investment" that is well past the six figure mark. For right now, it's harder to find someone who will spend $60k on one of these cars than it is to find someone who will spend $100k+ on a brand spanking new, made to order car, that is exactly what they want and they will actually wait in a queue to do it. I see that changing though in the next twenty years. But I don't look at my car strictly as an investment, and I wouldn't sell her at twice, or maybe even three times, the fair market value. Anymore than I would sell Ellie, and what's a used dog worth anyway? But that's just me.

[66gtk]

I agree with you Patrick and have noticed that as well. Perhaps for some it has something to do with being able to pay over time... Sort of like putting your ERA Cobra on layaway? Probably a weak theory. Lots of people obviously prefer new to used cars. I've purchased several pre-owned Cobras and will admit that in my experience it can be very risky and expensive and time consuming to fix issues that aren't really noticable at first blush. The same can be said of a new Cobra build though.

[ront49]

Originally Posted by twobjshelbys

In some ways I disagree. I agree about the replica cars not being collectible, even Shelby CSX and Kirkham. There are simply too many of them and as long as they are continuing to be built the supply will exceed demand. And the new versions put a cap on the price you can get for an old one. But I believe the market is getting soft because the target market is drying up. 5 or 10 years ago the sixty year old retirees that were still able to enjoy a toy were buying them up. Now they are getting to be 70 and not so able. So the used market is getting saturated with cars coming off "retirement". And this applies not just to Cobras. Other "muscle" cars are suffering from the same effect.

well put ... my wife and I noticed that "most" of the Corvettes we see passing thru are driven by "older" guys who can now afford them ... same with Cobra's, they're an American dream still and most folks who are still working can't afford them or they have priorities ahead of a dream.

[patrickt]

Originally Posted by ront49

well put ... my wife and I noticed that "most" of the Corvettes we see passing thru are driven by "older" guys who can now afford them ...

Yep, got passed the other day by a beautiful XKE with an old guy behind the wheel. License plate: VIAGUAR

[KDubU]

Originally Posted by patrickt

Yep, got passed the other day by a beautiful XKE with an old guy behind the wheel. License plate: VIAGUAR

Nice!

[EM65Cobra]

I've been watching the resell market for the past year or so because I've been looking to get another Cobra. I agree with Fastd except for the numbers on BDR. This is the first used BDR I've ever seen below $50k (unless it was a damaged one). In my opinion there were some issues with this one which is why it didn't sell in the mid $50's, and the one of the reasons I didn't bid on it.

BDR's seem to sell (for similar power train and build quality) between $10k to $15k higher than an FFR, at least that's been my experience of watching for the last year.

I only feel I know this because I'd narrowed my search down to only considering BDR's and FFR's so I've been comparing them for a while.

[jimbo01]

Not sure if anyone watched Mecum Auction in Kissimmee. The Backdraft cars there sold for a lot more than I expected. Seems that the prices are up and not down to me. Maybe that is the place to sell one.

[jimbo01]

Just took a look at the Cobra Country site. Four Backdraft cars listed and all sold. Lots of Superformance cars to be purchased.

[jimbo01]

Took a look at the results today. The lowest price for a Backdraft car at Mecum was 50,000.00 Plus 10% buyers feef and the most expensive one was $80,300.00 plus buyers fee. My list shows 5 Cars went through and 4 sold. A lot depends on condition and options

[Cashburn]

Originally Posted by jimbo01

Took a look at the results today. The lowest price for a Backdraft car at Mecum was 50,000.00 Plus 10% buyers feef and the most expensive one was $80,300.00 plus buyers fee. My list shows 5 Cars went through and 4 sold. A lot depends on condition and options

Mecum lists with the fees from what I recall. The $50k was a "bid goes on". But I think the prices were solid. That $80k looks like a rushed build

[jimbo01]

The sale price does not include the buyers or sellers fees. Been there done that.

[Cashburn]

Originally Posted by jimbo01

The sale price does not include the buyers or sellers fees. Been there done that.

I think you have a different auction house.

[twobjshelbys]

Mecum and Barrett Jackson's post-bid listings show the price including buyer's premiums. The live auction only shows the hammer price.

[Cashburn]

Originally Posted by twobjshelbys

Mecum and Barrett Jackson's post-bid listings show the price including buyer's premiums. The live auction only shows the hammer price.

Yes that is correct.

[jimbo01]

Sorry guys. I took the figures from the listings. At any rate the prices were better than I expected.

[hauss]

I purchased my backdraft about 4 months ago and I almost bought the one you are referring to. Their was a lot more to the whole story but I promised not to get into it.Lets just say I was kicked off the site for awhile . All that being said I would say your color is the problem not the price. Blue or red is the most popular . That is why I went with blue with white stripes.You may just have to wait a little longer to sell your cobra, that is all I am saying, But the price should not matter, unless you want to sell it quick.