How do you sell 26 GTOs?
 

With much regret and sadness I have come to accept the fact that the dream of restoring 26 1965-1967 GTOs (almost all are convertibles)is never going to happen. Plus paying for storage for the last 29 years has been costly. Its time to end the maddness. All of these cars were purchased in a 2 year span from 1980 to 1982 with hopes of restoring 3 a year. As of today only 1 65 was restored and a 65 and 66 have been on the rotisserie, media blasted, primed and put back on the frame and that was 20 years ago for the 65 and 5 years ago for the 66. I am going to keep a few but the rest need to go. When I purchased my 1965 black/white tripower 4 spd last year my friends and family looked at me like I was nuts, but knowing I would not be able to restore my cars, the best option was to buy one done. My hope is to sell them as one package. Many parts were purchased from a GM guy in Hemmings back in the early eighties. If my memory is correct the parts were about $15,000.00 alone which was a boat load of money considering you could purchase a very nice complete running car for about $3,000.00. Understanding the difficulty of this happening I thought I would start here and see if anyone had any interest or any suggestions on how to approach this. I thought maybe a broker might be the way to go or Mecum as 1 lot? Piecing out the collection and parts could take years to sell and I just do not want to spend the time doing it. As far as the price for everything that is the next thing that is difficult to figure out, but with the cars and all the parts which there are about 10 or more qt panels,and about 20 doors and fenders,hoods and trunks and other misc. parts I'm thinking about $185,000. Any suggestions would be great. Thanks

My first thought would be to make a list of the 26 cars. Number each car 1-26, list condition, what goes with it, engines, PHS, title status, etc. and a price for that car and parts combo alone. Once you compile the list of 26 you should be close to your $185,000. You probably already did this in your head to come up with the starting number.

I'd also get some pics of the cars so potential buyers can see what they are getting. I think you will have your best luck with some good pics, PHS, and honest descriptions.

When I bought 5 Judges from a guy in Texas he had them listed as car 1, car 2, etc. I started out looking at 8 cars. He sent pictures, even 5 rolls of 35mm film I got developed here. He listed everything that came with each car and had titles and PHS for all. He seemed pretty organized with his info.

The problem with selling them all together is mutli-fold. First you need a guy with that much cash. Second he needs to be able to restore them himself, or have more cash to get them restored. Third the shipping on 26 cars has got to be substantial.

Selling them one at a time, or even in groups- maybe 3-4 cars to one guy will be easier to get the ball rolling. Once you sell one, the next one will go easier for you.

Thats my $.02

I agree with John. I understand that you'd like to be rid of them in one shot, but very few guys have the desire to purchase that many cars at once, let alone having enough money or space for all of them.

It's going to take some effort to sell 26 cars.

I would start right now and advertise each car individually, place ads for about 5 cars and start getting some exposure.

If you price them to sell you'll likely move them out fairly quickly.

Finding someone who will buy the entire lot of 26 cars is not going to be easy, and if you did they would expect to get a pretty good package deal to take that many cars off your hands.

I think that the above posts are right on. Sell 5 or 6 at a time and after one lot is sold start to sell the next lot. The word WILL get around and generate more interest. Sell the best lot toward the end. I would space the lot sales about 3-4 months apart. Who knows, maybe after 1 or 2 lot sales someone may step up and buy the rest as a lot.

Supply and demand. That is the key to sales.

That being said, you have a huge supply of unrestored cars, and in my opinion (just my opinion), the demand for project cars is low.

The first question I would ask you, is What are you trying to accomplish?
I beleive that you want to buy more restored cars or convert hard to store sheet metal and cars into "easy to store cash".

Regarding the parts, some of that stuff is easier, some is very very tough. IE if you had 20 tripowers or 10 67 NOS GTO convertible quarters, those aren't hard to sell. 20 doors or fenders is a different story. Convertible back seats are easy, used door panels, not so easy. Used suspension parts- dead weight, likewise a lot of other parts of that variety. They aren't even worth trying to sell.
I've done this for 30 years, and enjoyed the process of turning junk cars and parts into a few nice cars that I enjoy. If you were somewhere near to me, and they were priced reasonably, I know I could sell all that you want in 2 years. 10 years ago, I could have done it in 1 year.
If you wish to discuss further, email me at [email protected]. I can make it happen, or help you make it happen.

I agree that the "lot" sale might be tough. BUT, if thats what you'd really prefer to do, then inventory and list everything as some have suggested, and advertise it as a lot. Have a bottom-line number (in your head) that you won't go below. Maybe you'll get lucky and find the right person that wants the whole deal. JMHO

One at a time, and be aggressive on price.

185,000 for 26 cars is over 7k/car and if they are all projects that's too much. Figure half price on everything and you will be closer to market.

I might be interested in 2 or 3 the depending on price and location.thanks Jim

I agree with the comments about a "one price takes all". In this economy, even the guys (gals) with money didn't get there by being naive or stupid. Let's face it, there has been a
sharp decline in prices, has the bottom been reached? That is a point monied folks would consider about all 26 at one time.
Any dealer will tell you 4 speed cars are the most coveted.And convertibles is a big plus. I would, as the guys above say, list them in a group,but maybe 3 at a time. Just to get some momentum to the project.
It seems our dad put out the money, so, theoretically, any money, less storage and maintenance, is for you, pure profit. I would do as stated above, then sell the rest below market, to attract a potentially quicker sale. The condition and PHS is extremely important. Quality photos is a must. Visuals stimulate the buyer, always have, always will. The copy is important,also. I would take Andre up on his kind offer. He has 30 years experience, and knows his stuff.
I would post the first " batch" here. Serious Pontiac guys (gals) who know other serious Pontiac folks. No telling, a group of three could get the money up, and split up the cars amongst themselves.
Sorry, I didn't read the whole thread, it's early (lol) but, what is the condition of
these? Are they all streetable ,as is? A list of acquired parts, especially NOS, would be a plus.
I feel an auction is out of the question. You would need to transport them to one location, or hope to get pre-auction publicity ,to attract buyers before, to view them where they are. That also, would be very problematical.
The economic forecast isn't bright for a fast recovery of this economy, you may have to wait quite a while to sell them all. Years as far as the economy goes, acoording to forecasts( 2016) for unemployment below 5.5%!! e.g. Good luck, I'd like to know more about the cars myself.....but, all 26 is a little out of range for me!! lol Larry B.

One other thing. Where are you located? That will be a factor too.

Not sure but check on this site and see if you can advertise them there too..... http://ultimategto.com/

Thanks for all the suggestions. As far as the condition, these cars were purchased in 1980-82 and most were put in storage at that time. So they have been sitting all that time and some were sitting before we bought them, so that are not able to be driven as is. That being said, most of these are original and should contain most of there original parts and paint but I would need to confirm this. When these were bought originality was not a concern at all. I had planned on getting the PHS on all of them this summer but was not able to find the time. I will do that before I start to advertise them. My purpose of this thread is to get the ball rolling and get some good advice from you guys. The time frame to really be ready for this will probably be 2 months. Between getting all the #s off the blocks,rears, trannys and getting all the PHS and cleaning them so they look presentable will take alot of effort. Most convert tops are white and at least 4 of them have parchment interior which will need some heavy scrubbing. I will post when anything new has happened. PS.... I know the suggestions of selling them in smaller lots or individually is probably what will happen, but I will be optimistic until reality come knocking on my door.

Where are you located?

Your approx. location was not given and as mentioned before where you are and where these car came from are very important as to the ability to sell and price.

Pick out the car that you think needs the most work and list it on Ebay. You will get an idea what it's all worth. You will never be able to sell all the cars in one pop unless you give them away. Once someone knows where the cars are at they will be coming out of the woodwork trying to scam them.

PM sent.

Tim john---

Pretty sure he is in New York state somewhere.

What leads you to that conclusion?

It would be nice to post the state the cars are in so we wouldn't have to speculate. I understood that they were in South Dakota.

Our question about where the cars are located may be answered.

I looked through his old posts. It looks like you found the same info I did.

I think the point Arbys and a few others mentioned is critical here. Sell off the worst of them first, saving your best for last.
Reason for this is two fold.
The damand and disposable income to buy them with may both increase with the span of time this is certain to take, (guess no less than 5 years for that many) and you will get a better price when you need it most for the cars in the best condition.
Second, if you save the worst for last, then the temptation to scrap them may win over and that would be a criminal waste and shame.

And also as stated above, just my :2cents: worth...
Good Luck and godbless for keeping that many for so long from the crusher !!!

Sell 24 of them...then use the money to HAVE the last 2 PROFESSIONALLY restored!:D

That's probably the best advise yet. The last two could remind you of the others and how their sale led to the last two showpieces.

near Pleasant Valley perhaps?

I like Eric's idea too. It's realistic and totally doable. A coworker and good friend of mine had 13 '64-'67 GTO's when I met him in '96, and only one ran. About ten years ago, he sold 11 of them. These were "Wrecking Yard Pull- Outs" (his terms), all gotten from the central valley of California between 1978-1981. They were all complete, worn out cars. When I saw them in '96, they had degraded from sitting outside for 15 plus years. The guy he sold them to for a modest price (he just wanted to see them saved) ended up having most of them restored and the rest were sold as-is and were restored. All of them ended up "back on the road" within about 3 years. Win-win for everybody. Some of the money was used to perform a frame off on his '67 hardtop (his first car, and the one he wanted to keep) that was completed about 2 years ago. The fact that the 26 GTO's have been INSIDE for the past 20 plus years is a HUGE help. Good luck, whatever you decide.

I apologize for not giving more details on the location of these cars just yet,but for years it has been an on going problem/concern of theft. We are lucky enough to have minimal amount of things stolen over the years. Now that this collection is going to be known outside of my local area theft will become more of a concern than ever. I think what I need to do before this blows up is put Grundy Insurance on all the cars. After that I will feel more comfortable discussing all the details. When I am better situated with my direction I will answer all the pms that have been sent. Thanks for your understanding.

few years back similar situation but with antique farm equipment, mostly steam traction engines in Minnesota. It was all sold in a day at public auction and attracted bidders across the nation. 26 cars could easily be sold in a day and if advertised appropriately the bidders will be there. Don't know if Mecum will "come to you" but Nixon Bros will.

No need to apologize. The people trying to figure out (and post) your location need a smack.
Best of luck with your situation!

I'd love to but a Left and a Right 67 GTO quarter panel...gotta be sweet though! Take your time, figure out what you need to do. Remember, the season ends in a couple months, people WILL be seeking parts for their winter projects. Good Luck, Eric:usa2:

NEVER EVER do an auction....never..unless youre dead and your relatives have no options...the only person that makes money at an auction is the auction company..trust me i know, Ive seen it so many times it makes me sick....the theivery at an auction will make you dumbfounded...

If you dont have the skill or time to sell them yourself, hire somone, make them work on a comission, but control everything..all the money and all the parts, you should be involved in all aspects...greed does weird things...

Western N.Y. state, as Thornton's is in Quakerstown,PA.which is far eastern PA. Do not give out the town you live in,m this is just for the curious guys here. Don't worry, you are in the Federal Witness Protection Program, I just called my friend in the FBI, he made an exception for ya. !! lol Larry B.

If you go with an auctioneer you'd better trust him with all that you have. I had a friend that was an auctioneer and he said that at most auctions they mix their own goods with the consignee's. They write the items on a small slip with the sold prices. At the end of the auction some of the slips strangly come up missing in the frenzy of activity. Not everyone does this but it does happen.
If I had to do it I would videotape it.

FInd a big time restorer that will take all the cars and do a couple of your cars in trade. Could be a win-win.

Injuntom that is a really good idea and would be a win-win situation but the truth of the matter is I'm trying to help my father get his money back. A few cars will be kept just in case we decide to do something someday.

I'd like to add that selling in one big group could attract foreign investors, never see them again once they hit the shipping containers. irgoatmike

You hit the nail on the head. I recieved a pm from somebody in Sweden.

The GTO tomb has been open this weekend. More pics and info once I recieve all the paper work from PHS.

WOW!! Sad to hear you have to get rid of them. Best of luck!!

That looks like fairly dry storage so the sheet metal should have held up well. 20 years is a long time to sit.

Wow looking at that tomb pic makes you feel like a fat kid in a candy store "drool"

Actually most have been sitting for 29 years. I did a count of the cars this weekend and it is 30 total GTOs and 1970 Cougar convert.

Wish you the best of luck with the sales.......lots of good advice from many that have been there and done that. Start with the one closest to the door...........one or two at a time should keep you very busy. Selling 3-4 cars a month will be hard work!! Lots of returning calls, all kinds of questions and sending pics ect takes a toll. PS I would love a 66' rag top trips & stick, any color. <;~).....Dave K.

Ya - better start pulling all the numbers off the blocks, heads, trans, etc, - 'cause Pontiac guys are gonna ask!

;)

Best wishes for the sales -

K

Man...30 Goats in one building? I hope the mice only munched on the Cougar for the last couple decades! I've heard that mice hate the smell of Irish Spring soap which is easier to take than the odor of moth balls!:gag: Were most of these running when bought? I'd love to see one outdoor group shot before the herd gets thinned! Good Luck!

That is incredible! Thanks for sharing that picture, you know we all love pictures here.

My god, talk about barn finds. Good luck selling them!

You may do better to sell NONE of them. Try this.....

>Go get some large plywood boards....5 or 10

>Find the closest heavily trafficked highway

>Go home.

>Get out your paint gun or find a good friend with experience in sign painting

>Start making your signs....

First one - AMAZING!!!!!

Second one - YOU ARE GETTING CLOSER!!!!

Third sign - YOU AREN'T GOING TO WANT TO MISS THIS!!!

Fourth sign - AMAZING COLLECTION - KEEP DRIVING FOR MORE INFO!!!!

Fifth sign - WORLD'S LARGEST UNRESTORED......

Sixth sign - ....Geeeee Teeee OHHHHHHHH COLLECTION!!!!

Seventh sign - TIGERS CAVE 2 MILES AHEAD!!! - STOP AND BE AMAZED!!!

....and on and on until they get to your turnoff.

THEN----SELL TICKETS TO SEE THIS COOL COLLECTION. You won't need to do a thing...no washing.... no inventorying. Just sit there and set up a table and sell tickets. You could even have a pile of red rags at the door and all the visitors will want to wipe off the windows, etc to get a closer look. Before you know it, you'll still have 30 cars + 1 and they'll be pretty clean.

Enough visitors and you can keep your cars and pay someone to restore them as you rake in the $$.

Each time a car leaves for resto you can change the signs.....maybe add one that says "ONLY 29 (etc) LEFT!!!!!" (change periodically as you work down the collection).

If you need help PM me and I'll come up and help you scout out good sign locations and I'll bring the folding ticket table.:D

Good luck with the massive collection....cool to see things like this still pop up.

Greetings all, newby to the forum here, not to goats. been lurking for a few months since I got my goat out of storage and started working on it.
I have to comment on the "30" goats that have been stored , WOW !! You and your dad should receive a medal or something for keeping these cars safe all these years. Mine has been in storage since late 1985, and I know what it needs just to make it roadworthy. Judging by the pic they all look dry and safe, little dusty,some bird poop, but ... to be expected.
I think you will prolly reach your goal, moneywise, and still have enough to restore a couple..trouble is..which ones? tough choice.
Not to be a smarta-s .. 30 into 185000 comes to roughly 6000 and some change,, ummm check is in the mail just send me one of em... they all look good from here, and cannot need any more work than the one I own now.
Good luck with this project . I know just from reading here , these are a great bunch of guys and will help you in any way . nuf said Jim

P GLADE, Thats funny you say to sell tickets to see the cars because my wife said the same thing last week. I was in Myrtle Beach last week and we went to a car museum called Wheels of Yesteryear and he did just that. He put all 50 of his unrestored beat up cars on display and we paid $10 each to get in. Cars have been there for 15 years.