The real value of "old" cars?
isellhondas
Member Posts: 20,342
Maybe I'm just out of touch with the market?
Attended a local car show yesterday and walked around for an hour or so.
The Northwest Cougar Club was the sponser so, as you would imagine, Cougars dominated the show. I didn't realize there were so many in the area and the following they have.
Spotted a 1968 for sale. Base model, red/black vinyl top. Nothing special, 289 engine, AT no A/C or anything else that I could see.
Mediocre repaint job at some point in it's life. Not a "bad" paint job but not a good one either.
Reported to have only 50,000 miles.
So, I'm guessing he probably wants 5-6000.00 for it.
Nope! Asking price was 13,500!
Is he looking for a sucker? Is he nuts or am I totally out of grips with the reality of the market?
Anyone a Cougar expert?
Attended a local car show yesterday and walked around for an hour or so.
The Northwest Cougar Club was the sponser so, as you would imagine, Cougars dominated the show. I didn't realize there were so many in the area and the following they have.
Spotted a 1968 for sale. Base model, red/black vinyl top. Nothing special, 289 engine, AT no A/C or anything else that I could see.
Mediocre repaint job at some point in it's life. Not a "bad" paint job but not a good one either.
Reported to have only 50,000 miles.
So, I'm guessing he probably wants 5-6000.00 for it.
Nope! Asking price was 13,500!
Is he looking for a sucker? Is he nuts or am I totally out of grips with the reality of the market?
Anyone a Cougar expert?
0
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Comments
To paraphrase Shifty: asking prices are the ultimate expression of freedom of speech :shades:
IMO, the reality of the Mustang/Cougar market is anything but standard. My experience is that the Class 2's usually have a too high asking price as do the Class 3/4's.
13,500 should get you an XR7 with Leather, working headlights & sequentials, and a very decent exterior & interior in excellent detailed condition.
There was a near perfect burgandy XR-7 there. Not for sale but it couldn't have been any nicer. Air cond, factory sunroof and most of the other available options.
It had a 390 engine and when I took a look, I was reminded about what a B***H it was to change spark plugs in those!
I forgot about those sequentials that they shared with the T-Birds. I saw one being worked on once and what a primitive setup those were!
More like 6000.00 I'm thinking it's worth.
Asking prices are rather meaningless. It is not the owners, not the sellers, not the club members, not the concours judges, not the appraisers---who determine Market Value.
The buyer determines Market Value.
When an owner prices a car at exactly double the going rate, then my opinion is that the car is not seriously for sale. It's a trolling game of some sort, or some attempt to justify the outlay for the car or its restoration.
Yeah, it was probably the same car.
Just last night I watched a couple go through the Barrett-Jackson Auction on television. One went for 250,000! Add the 10% buyers fee to that!
And, yeah, I'll bet they were a nightmare to work on!
427 auto only Several sticks were made but had a 428 instead
Around 375 of these were made.
BIG money car IF you can find one!
Another is a 68 Fairlane GTA 390 auto Another rare Ford!
GTA 390 would be worth about the same, maybe just a little less.
The problem is neither one is a Mustang, so a smaller buyer pool. A '68 Stang GT 428CJ would sell faster IMO.
Very nose heavy as you would expect.
Attended a car show today and someone had a 1964 GTO for sale. It was nice but nothing special at all. The "post" model. I didn't look but it was a stick so I'll assume a four and not a three speed. Mediocre repaint and, again, just a driver.
For Sale! 34,500!! That's worse than that Cougar!
It was primer black, and pretty crappy overall from what little I remember. He paid $400 for it around 1973 or so, and when he finally sold it he got $400, plus the seller threw in a bag of...umm...paprika? :shades: Hey man, it WAS the 70's!
People can "ask" anything they want. It's the man with the checkbook that sets the real value of any car.
don't tell me---nobody bought it.
I suspect the owner just threw a For Sale sign on it to see if he could find a sucker.
It really wasn't very nice. The dash had been repainted poorly for one thing.
I didn't spend much time looking at it. I was afraid the owner would show up and that my shock at his asking price would show.
Some Microsoft guy's dad may have had it's twin when he was little and it's a car he just HAS to have.
That's probably what that guy was trolling for.
We also had a '64 Ford Galaxie 4-door around that timeframe. Dad always had some piece of junk with a stick shift that Mom couldn't drive, but if he wanted to go out partying with his friends on the weekend, he'd take Mom's car instead. First, the '66 Catalina convertible she had, and later the '68 Impala 4-door hardtop that replaced it. My granddad got tired of that, so he got us this '64 Ford. I think he paid less than $100 for it, and it only needed a starter, or an alternator, I forget now.
Take a look at this one on Ebay. 8700.00 with a day to go!
http://cgi.ebay.com/ebaymotors/1960-PONTIAC-BONNEVILLE-389-CA-HARDTOP-ALL-ORIGIN- AL-NR-/290461681269?pt=US_Cars_Trucks
A nothing special 1960 Pontiac that is definatly a "20 footer".
To the seller's credit, he did a good job of posting photos that are pretty revealing.
The rockers are rusted out on one side and from my experience there is always a lot more rust than meets the eye, Even though it's a So. Calif car they can rust when the drains aren't kept clear and it looks like that is the case here.
It probably needs a mechanical rebuild after all of those miles and who knows what else? Those were known for weak front ends and those Hydra-Matics weren't the best.
8700.00? I was thinking 2500-3500 dollars tops.
But, what do I know?
Here again, the bidders know what they are doing---this car has everything buyers want---originality, California known history, good year, good model, and hasn't been messed with by monkeys.
Take the same year, lower trim line, lived in the Midwest, been slammed and has funny wheels on it---and the value would be 1/4 of that.
Yes, it's a CA black plate car and I know that is very desirable to some. Maybe because I'm from that neck of the woods, I take that for granted.
It still has rust and needs a total restoration which would exceed it's value.
It is a survivor but it just seems like it's going to need everything unless the buyer just leaves it as it is.
I don't see 12,000 but it'sll be interesting to see where the bidding stops.
I'm an old Poncho fanatic and find it hard to see that kind of money for it (bidding currently at 26K) even given that wagon values have jumped over the last few years.
That Safari Wagon is beyond fantastic!
The 1960 Bonneville just looks like a ho-hum money pit but that wagon is something else!
Those were few and far between to begin with and that one has some ultra rare options and super low miles!
Awesome wagon...GM sure knew how to do it once.
Thre trouble is, the finned aluminum part that you see is actually the brake drum!
Back when I managed a shop in the mid-seventies they were near impossible to get from the dealers and they cost over 100.00 each then!
Better than awesome! Incredible and irreplaceable.
http://seattle.craigslist.org/est/cto/1889771023.html
I know nothing about these but it sounds like it would be a tough project.
Shifty? anyone?
The Jensen-Healey...another reason why the British automotive industry in effect does not exist today. The pain required to get that thing up to 50K miles must have been huge.
I'd vote "parts car".
....the add-on for Tri-Power on a *convertible* is only 25%, so I can't see the add-on being any more for a station wagon of all things.
My estimate for "show car" is $20,000 tops tops tops. Interesting history, but not 'celebrity' really. If it was Bill France's car, that might give it a bump. But seller's story makes no sense---if it was "built for a GM exec", why was it delivered to a dealer?
He's absolutely batty not to take the $26K bid, or at least to drop his reserve immediately. This is 2010, and this is a station wagon. C'mon.
done in black and white, but has a www. address on the sign for the movie theater.
The one line I remember was "Tri-Power's okay, but it's not enough. When racing a Z, you got to be tough."
So, was Tri-Power not as big of a deal as Pontiac would have liked you to believe?
These were never very popular so I'll bet parts are near impossible.
I know nothing about Webers or Lotus engines but I just smell nothing but big trouble and headaches. Not worth a resoration but I was thinking maybe a Sunday driver?
If you can't help me do you know where to send me for this information?
Thanks
Don't pay much, it's a Tempest with a trim pack.
If you google search 1967GTO dot com you'll find a site devoted to stats, codes, and all other things related to that GTO.
According to that source there were almost 3,000 GTOs built in '67 with the 2 bbl, low compression engine. Not rare or desired by collectors. But, hey, maybe a nice old cruiser without the fuel appetite (or auction price) of a high option Goat. And I agree with the price advice already posted: Don't pay too much for what you're getting. :shades:
And the station wagon faithful rise again! I really like that Safari, too. Maybe we can't help it because we grew up with those pre-minivan kid haulers. It's funny how this always happens!
Maybe in the future the next gen will text each other excitedly about finding one of those rare, turbo/5-speed Caravans for sale. And then comes the appraisal, "It's 2030 and that is a minivan. nfm."
I never understood why they even bothered making these? The purpose of a mighty GTO was brute power. These are a gelding in effect.
Yes, it's defianatly worth less. A lot less and the GTO community scoffs at these.
Still, I guess it might make a nice cruiser.
Why can something that might be ugly, or incompetent, or poorly engineered, or shoddily made, be worth much more than a beautiful used Mercedes 500SL?
Because more people want one of the "collectible" cars than there are for sale.
PONTIAC SAFARI --- my main complaint with this auction poofery is the claim that "only 5 were made". This is nonsense. Many MANY more were made, but just a few with tri-power.
Note that distinction.
I could go buy a cheap Safari wagon and put tri-power on it easily. Then I go to the car show and park next to the guy with the "only 5 made" claim. He looks at mine, and says "IT's NOT REAL".
I say "so what"? Our cars look identical, the people like both cars equally---so whaddya ya gonna do---spend all day waving your documentation in people's faces?
If you *really* had a car that there were only 5 of, I couldn't possibly duplicate it for chump change, could I?
Epic FAIL on "only 5 made" IMO.
I thought it was odd that as well equipped as it is that it didn't have power windows?
Crazy, CRAZY money for it!