Barrett Jackson?

[hudsonkid]

anyone else think prices are pretty soft? Maybe a sign of the times?

call me dumb, I was hoping to see the General Lee go for over 1 million.

[rambos_ride]

I've only been spot watching the auctions.

Prices are more than soft, but I don't know it's a sign of the times so much as "the hype is gone or going" - there are still plenty of rich people out there who can afford to buy a top quality car!

Really 1 word really comes to mind - Oversaturation

Too many auctions too many times a year to bring the really special cars out (like our beloved Hudsons :))

I'm not a "Blastolene Bros" fan, but 6000 man hours plus materials and it sold for 485k? Yikes - that equals about 80.00 an hour and that would have to cover all materials as...they just lost their shorts.

That will scare some potential sellers out of the market.

I think they should run out the auctions this year - take a 2 year hiatus and come back in 2010 - haven't they made enough money to take some time off yet?

[Sarah Young]

I enjoy watching the auction just to see vehicles like the GM Futurliner and hear about its story. Or even see what the Monster Garage cars sell for. Otherwise, seeing the auction prices for some of these cars is just astronomical.

In regards to the General Lee, I was watching a show on CMT about the DukesFest annual gathering the other night. It was interesting to see how many General Lee clones were at the event.

[46HudsonPU]

Have been tuning-in occasionally during the week and this weekend.

I too have noticed that generally, the prices have been lower, in some cases to the point of being a 'good deal' to almost a 'steal', at least compared to what it would cost to build or restore some of these cars...

While I agree that the "Blastolene Bros" vehicle was a very good buy, given the number of hours put into it - WHERE would anyone drive it? Of course, the answer is nowhere, at least not on public roads - it will sit in some display, showroom or collection... Which really limits its desireability.
A person could spend a sinful amount of money in an attempt to make their vision a reality - but will others 'see their vision', and better yet - be willing to cough-up Big Bucks for that vision? If that 'end' is the person's goal (financial return, i.e., Big Bucks), then it will be a very elusive goal to achieve...

IMHO - One cannot have it both ways - either BJ auctions show no reality to 'real prices' (i.e., too high); or the bidding does not reflect what prices should be...

BJ's is the live equivalent of eBay - a very wide audience, which brings in the knowledgeable collectors, professionals as well as amateurs. The bigger the audience, the more chance of getting the attention of multiple people who might have an interest in what is being sold... Just because a person has a lot of $$, it does not mean they have to be intelligent in the way they spend it, or even know what they are really buying.

To me, it appears to all 'come out in the wash', sooner or later...

[dermott]

hello, a duesenberg went last night 4 1 million $$$$. and it was a classic w/pedigee. but, craig jackson shouting out " this is a 1.6 million $$ car, ???" if he thinks so, why didn't he pay1.6 for it. i remember 10 yrs or so the classics came out from the 20,s to fiftys , where did all those cars go ?? sitting in garages hiding, muscle,concepts,and over priced junk now. dermott.:eek:

[Browniepetersen]

My assessment of the auction is a bit different than those above. Let me brake it down this way:
First day: The cars are the type you and I own. Some are really nice, some are high end drivers. The muscle cars, and those normal Vetts, mustangs and Thunderbirds were about where I expected them to be. They were very consistant with the prices you would find in the respectable collector guides. The orphan cars were a great buy and the hot rods were unpredictable and about 9 percent above the going estimated prices.

The days leading up to "Super Saturday" were filled with high end muscle cars and name brand builders that have not yet made their name in the business. The price on most of the muscle cars were running 17 percent below normal rate. Seven cars that I identified were sold from Barrett-Jackson in previous years and returned to the block this year and that is were I factored my declining rate from.

Super Saturday was a freak Show. They dug up anyone with a name and ran a car through with their name on it. Several cars were charity actions and seemed only to be on the block to inflate the other cars being offered. There were a high number of specialty cars and clone cars. As printed above in a thread--How many General Lee's can you have (just as a side note, I would have bid much higher if Barbara Bach, the only real Daisy Duke, had been there at 25 years of age in those famous levi shorts) Not a single price obtained from Super Saturday could be considered responsible.

Sunday will happen today. I have not a clue how this will pan out. But, I would love to know how the Italia will perform. And as a side note. This has to be one of the finest car shows in the World! Great cars, fantastic weather, fun people, spectacular displays from vendors and a reality show that puts to shame all the other trash that saturates our television viewing evenings.:rolleyes:

Just some thoughts here "Somewhere west of Salt Lake."

[basskeeper]

The Italia hit the auction block on Friday at the RM auction in Phoenix. The bidding got up to $250,000 but the car did not sell. Who knows what the reserve was. Makes you wonder what a perfectly restored Italia would bring.

[Mike (WA)]

I think you've got some heartsick folks out there now- the ones who paid the crazy prices last year, have been paying 200 a month for climate-controlled storage, and now see their "investment" going south on them. And they're in a box- they can't ditch the fancy storage and start driving (and enjoying) the car, because then they will surely lose their investment, even if another "bubble" comes along. Believe I'll stick with real estate as far as investments go, and stick with drivers for my auto purchases.

One of my favorites was the '65 (or so) Mercury Comet Caliente- pretty car, but when it came on the block, I asked myself, "Why would anyone spend the bucks to restore one of those?" Ended up selling for $19,500, and they mentioned $50,000 in documented restoration receipts. I guess "irrationality" was the answer to my question.

[SamJ]

I enjoy watching the auction just to see vehicles like the GM Futurliner and hear about its story. Or even see what the Monster Garage cars sell for. Otherwise, seeing the auction prices for some of these cars is just astronomical.

In regards to the General Lee, I was watching a show on CMT about the DukesFest annual gathering the other night. It was interesting to see how many General Lee clones were at the event.

Thanks for posting this great photo, Sarah...it says it all! :eek:

[46HudsonPU]

For those watching & following this event, a question - Do you think this could mean the end of Barrett Jackson's "No Reserve" auction format?

[Ron P]

For those watching & following this event, a question - Do you think this could mean the end of Barrett Jackson's "No Reserve" auction format?

I thought I just heard the Hudson Pickup went for $34,000 ?? Did anyone else see this ?

[46HudsonPU]

I thought I just heard the Hudson Pickup went for $34,000 ?? Did anyone else see this ?
I watched it go (see my post on the other thread on the BJ auctions). It was also the first hour's "Heagerty Fantasy Bid" - No, I wasn't even close...

BTW: Looks like Sunday is not bringing those 'high pricess' either -

[stateline]

I was watching the mopar market mostly , it was falling a yr ago and no one wanted to believe it .I sold my mopar excess1 1/2 yrs ago and got laughed at . guess everyone thought cars would rise forever. Id say stuff is falling back toward reality . bet it will keep falling .

[Jimalberta]

yes Ron I was watching and the pickup did sell for $34,000.00.

[51hornetA]

I was watching and shouting a lot of bids at the TV but no one heard them....

[46HudsonPU]

I was watching and shouting a lot of bids at the TV but no one heard them....
I was doing the same thing at my computer, however BJ support told me it doesn't work that way... :(

[66patrick66]

Remember the muscle car boom in 1987-1989, then the crash the following year? You are seeing the 2008 version of that going on now. Maybe some of these cars will come back to realistic prices and stay there, like BEFORE they started televising the B-J nonsense.