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Lincoln Continental Convertibles of the 1960's

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Comments

  • parmparm Posts: 723
    edited March 2010
    1962 Lincoln

    Today, this car hammered sold for $50,000 (not including buyer's premium) at RM's Amelia Island auction. Way more than I thought it would go for. I would've thought $35K was all the money. I know auctions tend to result in inflated sale prices, but this one has me stumped. Must've been nicer than I thought.
  • MrShift@EdmundsMrShift@Edmunds Posts: 43,637
    edited March 2010
    When you have access to a large faucet where money pours out whenever you want, what does a $20,000 mistake matter? The point is "the law of large numbers". THAT Lincoln was worth $50,000 on that day, but if you monitored all the Lincoln converts of that type sold within the past year----well, the law of large numbers tells us that we are probably correct in our value assessment.

    The $50K selling price is no more indicative of the "market" than this selling price:

    http://americandreamcars.com/1961lincoln0428.htm

    and why is the $50K car any better than this beauty at $35K asking?

    http://www.hemmings.com/classifieds/dealer/lincoln/continental/1036769.html

    Obviously somebody back East may have more dollars than sense.

    So there's really nothing to puzzle over. If you flip a coin only ten times, you might get 7 heads and 3 tails, but that doesn't mean that those are the real probabilities. The real probabilities come out when you flip the coin 500 times perhaps, or 1000 is even better. (Somebody actually did that and heads came out 50.1% of the time).
  • isellhondasisellhondas Issaquah WashingtonPosts: 17,348
    Auctions are so unpredictable.

    Ego has a lot to do with the sales results. If you get a couple of boozed up condenders on the same car, a lot of it is just stubborness and the desire to emerge the winner.

    A great thing for the person selling the car!

    Of course, now everyone with a 1962 Lincoln Convertable " knows" what they are "going for".
  • MrShift@EdmundsMrShift@Edmunds Posts: 43,637
    Yeah sure...put that same car up for sale on the Internet tomorrow, or on eBay, and see what you get for it.

    Wha' happened? :confuse:
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