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THE LOBBY A gathering place. Introductions, sports, showin' off your ride, birthday-anniversary-milestone, achievements, family oriented humor. |
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#1
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I just don't understand the market...
What is driving the prices of some models in the open market these days?
Is it all sentimentality of the Gen X and Millennial generations that now have money?? I kinda understand the VW bus and Bronco trending, but the auctions below are a bit surprising to me, having grown up during this era. Thoughts? I understand the low miles and like new condition for both of these, but still... 16k-Mile 1997 Chevrolet Tahoe LT 4×4 - $41,069 38k-Mile 1991 Cadillac Brougham d’Elegance - $70,000 I guess I am clueless about the import market, even if this is an ultra-rare 1981 924 variant with @ 280hp... 1981 Porsche 924 Carrera GTS Clubsport - $261,000 And yet, a pristine, low mile (6K) / original owner 2005 GTO stored in a plastic bubble (see last pic of auction) taps out at $25K+ <sigh>... Original-Owner 2005 Pontiac GTO 6-Speed - $25,500
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1970 GTO (Granada Gold) - 400 / TH400 |
#2
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The market trends you feature above are hard to fathom in many ways but there is no single factor that makes these auction results sensible, IMO. I think these are the contributing factors: 1. Cars and trucks like the ones pictured are no longer being made period 2. These cars stand out among a world of jelly bean, or white and gray SUV's. 3. Even at these crazy prices, they still cost less than an equivalent new one. (Such as the 41 K Tahoe that new would be touching the 75K mark new). 4. General distaste for everything needing a TV screen to operate, all having nanny controls, start/stop features and other annoying features. 5. Nostalgia is always a factor 6. Lack of manual transmission new cars in the case of the sports cars 7. Fear of being forced into electric vehicles I am sure there are many more I missed.
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#3
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Porsches are hot, and that particular one is an extremely rare and desirable model.
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#4
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The 88-98 Tahoe and Suburban are very hot right now. Pristine examples are fetching crazy money. When I sold my 93 2500 suburban with 454 and 4wd a few years back, I thought I was above market. Now its worth double that, and has been sold twice more. I replaced it with a 2005 Dodge crew cab Cummins 2wd dually, and its now worth 8k more than I paid. Strange times indeed.
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Clutch Guys Matter _______________________________________ 53 Studebaker, 400P/th400/9" 64 F-85 72 4-4-2 Mondello's VO Twister II 84 Hurst/Olds #2449 87 Cutlass Salon 54 Olds 88 sedan |
#5
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Cars from the 80s and 90s are going crazy right now, and show no signs of slowing down.
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"Those poor souls have made the fatal mistake of surrounding us. Now we can fire in any direction" 1970 Trans Am RAIII 4 speed 1971 Trans Am 5.3 LM7 1977 Trans Am W72 Y82 1987 Grand National |
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#6
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My good friend just sold this 1962 23-window Deluxe Samba, private party sale.
It looks just as nice in person as it does in the pictures, immaculate and one of the best of the breed. Sold for $160K
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1964 Tempest Coupe LS3/4L70E/3.42 1964 Le Mans Convertible 421 HO/TH350/2.56 2002 WS6 Convertible LS1/4L60E/3.23 |
#7
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Quote:
Those VW are way cool. You never ever see them, even back in the day. Usually at the beach with surfer dudes back then. Thanks for that rush.
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1) 65 GTO Survivor. 43,440 Original Miles. “Factory” Mayfair Maize Paint with Black Pinstripe, Black Cordova Top, Black Interior, OEM Numbers Matching Powertrain. Purchased from the Lady that bought it new. Baltimore Built (11A). 2) 66 GTO Survivor. “Factory” Cameo Ivory Paint with Red Pinstripe, Red Interior. OEM Numbers Matching Powertrain. Tri-Power (OEM Vacuum Linkage), Automatic "YR" code (1759 Produced). Fremont Built (01B), with the Rare 614 Option. |
#8
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Coworker of mine has that exact color model in decent original condition. Think his is a 1968.
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#9
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They’re bringing huge money, some very nice 23-window examples have gone for over $200K. The older the bus the more valuable, and of course the body style plays a big part as well. Commercial vehicles bring considerably less in the same condition, my ‘66 single cab pickup pictured next to the Samba might bring $35K. Both were restored by my friend.
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1964 Tempest Coupe LS3/4L70E/3.42 1964 Le Mans Convertible 421 HO/TH350/2.56 2002 WS6 Convertible LS1/4L60E/3.23 |
#10
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Any old full size pickup right now fetches much more than it did 5 years ago. I used be able to buy fairly nice Ford IDI diesels for $3,000, now they’re asking $4,000 for rusty junk.
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Two 1975 455 Grandvilles & '79 455 Trans Am ‘69 Camaro SS 396/375 (owned since ‘88) ‘22 Toyota Sequoia V8 ‘23 Lexus LS500 awd ‘95 Ford F-super duty 4wd 7.3 p-stroke & countless Jeeps & off road vehicles. |
#11
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That Porsche may be a special limited edition model of the 944. The rest of those sellers need to stop smoking that crack.
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1965 Pontiac LeMans. M21, 3.73 in a 12 bolt, Kauffman 461. |
#12
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It's a 924, the predecessor to the 944. According to the BAT information, it's one of only 15 built for road use, and only has 500 miles on it.
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#13
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Many times rarity trumps desirability.
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Triple Black 1971 GTO |
#14
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The country is awash in easy money. Federal Reserve printers going like mad. Housing prices also through the roof due to low interest rates. Not sure this is going to end well.
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1969 Judge, 4-speed, CR/Parchment, Quasi-Survivor, #'s match - under restoration |
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#15
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Mortgage interest rates have been extremely low for 20 years now, not sure if that would be the cause of recent increases in housing prices. 30 year fixed rates have only gone down about 1 - 1.25% in the last 18 years.
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#16
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Not necessarily. Desirability is more important than rarity. Square body chevys are through the roof right now, as well as the first gen ford broncos. They made those by the tens of thousands, if not more. I dont think I have seen a 69 trans am sell for more than $200k and thats being generous. If it were a dodge with a one of one unobtanium air in the tires it would be a million dollar car.
I have several motorcycles that are one of only a handfull in the world. They are still valued 100 times less than a comparible Harley or Indian, again of which thousands were made. |
#17
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Quote:
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#18
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The guy who owns Extreme Bonnets, (Turbocharger Parts) in the Detroit area, purchased a basically RUST FREE 1964 American Motors, 220 Sedan (if I remember correctly), and dropped a 505 cid Twin Turbo Engine in the car after doing a bunch of chassis/cage work to the car. I saw the engine run on the Dyno at Steve Morris shop several times.
So you really don't need to have a Rust Free Pontiac or Chevrolet if you want to go street racing. The money you save on Body Work can go into the chassis/cage and to a nice #2 or #3 paint job. Many are going down this path but most will not be at the power level he is at. Have to believe there are still very nice, Tempest and Lemans vehicles still out there in very good body and chassis condition that older people own. A plumber who came to the house told me about a very nice early Mopar (1965) that he bought for $2800 from a family in the last week. I think he said it was a 2 door Belvedere hardtop. Tom V.
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"Engineers do stuff for reasons" Tom Vaught Despite small distractions, there are those who will go Forward, Learning, Sharing Knowledge, Doing what they can to help others move forward. |
#19
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Anything Honda is getting crazy dollars. A low (or no) miles S2000 can easily bring $40k. A similar Solstice GXP with more h.p. more torque and comparable handling won't even get half of that. The sales prices when new were within 2k.
And, everyone says how much fun they are to drive...if that is the case why are there so many low mileage ones on the market. Every week Bring a Trailer has two or three listed. Last one with close to 100k sold for $30,000. A similar Solstice would be hard pressed to reach 10k. I,m giving some serious thought to selling my 25 yr old Honda snowblower. It is very low miles and all original except for belts and tires. I'm thinking $2,500-3,000.
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1969 Firebird 350 convertible, t-5, Carousel Red 2008 Solstice GXP 5speed manual, Sly 2008 Grand Prix, Ink Slate, Winter daily driver 2009 G8, Switchblade Silver, summer daily driver |
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#20
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An observation on older parts:
Last year, folks stayed home, and worked on their cars. We sold a LOT of carburetor rebuilding kits. This year, folks want rebuilt carburetors. LOTS of money out there, and seemingly lots of folks that either do not wish to, or do not have the ability to rebuild their carburetor. We turned down 10 carburetor rebuilds on Monday alone! Is this the stimulus money getting new people into the car hobby? Anyway, right now there is a terrific market for someone that wanting to go into carburetor rebuilding. Jon.
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"Good carburetion is fuelish hot air". "The most expensive carburetor is the wrong one given to you by your neighbor". If you truly believe that "one size fits all" try walking a mile in your spouse's shoes! Owner of The Carburetor Shop, LLC (of Missouri). Current caretaker of the remains of Stromberg Caburetor, and custodian of the existing Carter and Kingston carburetor drawings. |
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