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Barrett-Jackson 07
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<blockquote data-quote="mrmustang" data-source="post: 4335523" data-attributes="member: 13150"><p>Pardon me while I ramble a bit in my pre caffienated early morning state of mind.</p><p></p><p>As with last years sell off of a larger number of 50-60's Corvettes at both the Scottsdale and WPB BJ auctions, this years flavor is the vintage Fords. Mustangs, Shelbys, Boss 302/351/429's have reached their respective peak and both wholesale and retail buyers have seen the writing on the wall and figure it is time to liquidate while the market is still hot. Some dealers who have cars consigned are taking a big chance as they purchased cars during this potentially "artificially inflated" (some due to anonymously bid Ebay auctions) market and are hoping to ride the last of the waves before they come crashing down on the shore of reality. I've been watching this rise and fall over the past few years and had my hand in a private 69 GT500 fastback sale which did not bode well for one "dealer" who bought it, why, simple, he paid $108,000 for the car last November, (of course promising to keep it forever as part of his collection of fine Shelbys), a concourse driven beauty of stunning proportions, one which I had been judging for well over 20 years. The sellers having owned the car for well over 20 years knew it was time to let it go as it had sat unused and unshown for the three years prior......Lot #736.1 at last years WPB auction the car failed to reach further than $97,200 (that figure includes buyers premium too boot), a price that reflected at least in my mind that that segment of the market had peaked. Of course will we see people bidding with their hearts instead of their minds, of course as that is what the whole atmosphere is all about. Barret Jackson has spent a lifetime analyzing what works and what does not, they use the cameras and the auction assistants to their advantage. The same goes for the "no reserve" auctions as they get their buyer and seller premiums no matter what the price ends up to be. Now with that said, if anyone does decide to go, my advice is to do your homework long before you ever set foot on their property. Know what the maximum you are willing to pay is on a particular item and what you could buy a similar car (always do your comps before you go) for off-line and in a private sale. Stick to those prices and make sure that you do not panic if that camera swings up and over your head putting you on the big and little screens. I say this from experience as I frustrated two particular "buyers assistants" last year both on stage and sitting in the audience while acting as a buyers broker for several automobiles. One such heated bid war on a 1971 429 CJ (#626.1) where they kept sticking the camera in my face to try and get me worked up enough to bid higher only worked until the car reached what I was willing to spend for my client. Of course we lost the auction by $500....I did end up finding a car for my client (and good friend) in nicer condition for less money a month later.....There are countless other examples over the past few years where I have either bought, or been paid to buy vehicles for myself and others.......Again let the bidder beware this year, as I believe we have seen the top of the market approaching and cars that may see new highs this year may never see those prices ever again..........</p><p></p><p>Yours In Fords,</p><p></p><p>Bill S.</p></blockquote><p></p>
[QUOTE="mrmustang, post: 4335523, member: 13150"] Pardon me while I ramble a bit in my pre caffienated early morning state of mind. As with last years sell off of a larger number of 50-60's Corvettes at both the Scottsdale and WPB BJ auctions, this years flavor is the vintage Fords. Mustangs, Shelbys, Boss 302/351/429's have reached their respective peak and both wholesale and retail buyers have seen the writing on the wall and figure it is time to liquidate while the market is still hot. Some dealers who have cars consigned are taking a big chance as they purchased cars during this potentially "artificially inflated" (some due to anonymously bid Ebay auctions) market and are hoping to ride the last of the waves before they come crashing down on the shore of reality. I've been watching this rise and fall over the past few years and had my hand in a private 69 GT500 fastback sale which did not bode well for one "dealer" who bought it, why, simple, he paid $108,000 for the car last November, (of course promising to keep it forever as part of his collection of fine Shelbys), a concourse driven beauty of stunning proportions, one which I had been judging for well over 20 years. The sellers having owned the car for well over 20 years knew it was time to let it go as it had sat unused and unshown for the three years prior......Lot #736.1 at last years WPB auction the car failed to reach further than $97,200 (that figure includes buyers premium too boot), a price that reflected at least in my mind that that segment of the market had peaked. Of course will we see people bidding with their hearts instead of their minds, of course as that is what the whole atmosphere is all about. Barret Jackson has spent a lifetime analyzing what works and what does not, they use the cameras and the auction assistants to their advantage. The same goes for the "no reserve" auctions as they get their buyer and seller premiums no matter what the price ends up to be. Now with that said, if anyone does decide to go, my advice is to do your homework long before you ever set foot on their property. Know what the maximum you are willing to pay is on a particular item and what you could buy a similar car (always do your comps before you go) for off-line and in a private sale. Stick to those prices and make sure that you do not panic if that camera swings up and over your head putting you on the big and little screens. I say this from experience as I frustrated two particular "buyers assistants" last year both on stage and sitting in the audience while acting as a buyers broker for several automobiles. One such heated bid war on a 1971 429 CJ (#626.1) where they kept sticking the camera in my face to try and get me worked up enough to bid higher only worked until the car reached what I was willing to spend for my client. Of course we lost the auction by $500....I did end up finding a car for my client (and good friend) in nicer condition for less money a month later.....There are countless other examples over the past few years where I have either bought, or been paid to buy vehicles for myself and others.......Again let the bidder beware this year, as I believe we have seen the top of the market approaching and cars that may see new highs this year may never see those prices ever again.......... Yours In Fords, Bill S. [/QUOTE]
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