Barett-Jackson

hawaiicobra · #1 (**permalink**) 04-02-2007, 12:22 PM

Did anyone watch the PalmBeach auction on Speed this weekend.The market on muscle has really softened from the Scottsdate Auction in January where people were paying way to much for almost everything that rolled in.Many of the cars sold for half of what they were just two months ago.Was it the people in attendance this weekend or a correction.I bet alot of guys were ****ting bricks when they saw the same car they just bought in Jan. go for way less money.It had to stop climbing at some point and I think we may be seeing it.

csx700? · #2 (**permalink**) 04-02-2007, 12:41 PM

or could this be backlash from the events that have taken place at scottsdale?? i especially liked when craig jackson came on during the tv coverage and denounced the alligations that have been made about scottsdale..................craig jackson stated "the person that wrote the article has never even been to a BJ auction". i believe that person was escorted out of the BJ auction?..............please correct me if i'm wrong?

DAVID GAGNARD · #3 (**permalink**) 04-02-2007, 01:19 PM

I watched bits and pieces, here and there, saw quite a few cars go for a lot less than the sellers had invested in them............One particular car went on the blocks and it was said the owner had approx. $75,000.00 in the car, it sold for a whopping $38,000.00, bet that seller was NOT real happy.... How about the big red caddy with the blower thru the hood, sold for $50,000.00, owner thouth he'd get at least triple that, probably had 50 thou in the chrome alone!!!!!!!!!!!!!!!!!!!

David

aldersonjames20 · #4 (**permalink**) 04-02-2007, 01:28 PM

There was a gorgeous GT40 replica of some sort sold for 70K... I think the Palm Beach auction is always less ego and more brains when it comes to prices... not as much hype. Even the new Foose supercar (1st one sold to public) went for 330K and thats pretty close to its sticker...

James

RedBarchetta · #5 (**permalink**) 04-02-2007, 01:40 PM

Quote:

Originally Posted by DAVID GAGNARD

One particular car went on the blocks and it was said the owner had approx. $75,000.00 in the car, it sold for a whopping $38,000.00, bet that seller was NOT real happy....

If he was smart he ended up being the winning bidder. Far cheaper to pay the total buyer/seller fees (something like 18% in total?) than to take a bath under selling.

The only entity that is guaranteed to make money at BJ is BJ.

-Dean

hawaiicobra · #6 (**permalink**) 04-02-2007, 02:22 PM

Foose and Unique Performance may be nervous about the 50 unit production run on that custom Foose rod. It was stuck at 175-200,000 for along time until Craig Jackson got on the mic and begged for more bids.It went for $300 even and the msrp is $295 on them.There was a cherry 442 with the w30 option that went for around $32,000. They were well over that in January. Mopar E body's were also way off.Many challengers with 440 6 packs went between 35-45.

mrmustang · #7 (**permalink**) 04-02-2007, 02:33 PM

"Harley Orange" Backdraft with a reported 550hp (at rear wheels) and custom 6spd transmission sold for $45,000 (not including buyers premium).

Wayne Presley's stunning freshly built FFR with Stack Injection(tm), Halibrands, smith style gauges, and far too many minor items to list here hits $50,000 (not including buyers premium)

An unknown owner and his FFR went over the block on Friday at 40K

ESC goes over the block at 56K and is purported to have a 500hp+ small block 302 (with polished edlebrock carb) under the hood

. New owner is exporting it to Italy along with a yellow Ferrari he purchased on Friday. Seller was heard to remark that he was both surprised and disappointed that it did not hit 80K.

Nice Grandsport roadster replica also sold for 40K just before the unknown FFR.

Saturday saw
(lot # 621) a Classic Roadster "recreation" brought $35K

(lot 705) GT40 MK1 Coupe "replica" went for $70K

Sunday saw
Last FFR (and last cobra for the auction) went over the block at 70K

Lot 388 (SPF Coupe) $72,000

Cashburn · #8 (**permalink**) 04-02-2007, 03:27 PM

Palm Beach is always cheaper than Scottsdale... always has been.

trs900 · #9 (**permalink**) 04-02-2007, 04:35 PM

Shoot I had 4 tickets for Sunday and cound not make it so I gave them to a friend, besides I am flat broke at the moment...The reason Palm Beach is cheaper is do to the fact that we are a bunch of cheap
bas--ers, we are saving our money to invest in the new chad program coming up in 2008, for the Pres election

remember when Gore could have been the chief.

DAVID GAGNARD · #10 (**permalink**) 04-02-2007, 07:21 PM

Quote:

If he was smart he ended up being the winning bidder. Far cheaper to pay the total buyer/seller fees (something like 18% in total?) than to take a bath under selling.

The only entity that is guaranteed to make money at BJ is BJ.

-Dean

That is why I would not put a car in a no-reserve auction............

A buddy considered putting his 65 GT-350 in the 06 auction in Scottsdale, but ended up selling it privately, he got probably 10% more than a similar car went for at BJ that year and did not have to pay the commission nor the entry fee and did not have to transport the car to Arizona and babysit it for a week and take a chance on a sale...........

It's a crap shoot and I think the whole collector car thing is past due for a "re-alingment", maybe we are starting to see that now, next years BJ will tell the tale.........

David