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#1
02-11-2006, 11:20 PM
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$400K = 70 RA IV Judge convert at RM
just got back from the RM auction in Boca RATON, FLA. I Think the reserve was a lot higher but seller (and/or tony from custom classics?) dropped the reserve and it indeed did sell at $400K even (not incl the buyers premium at either 8 or 10%)
Thought many in here would be interested in this bit of auction info... |
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#2
02-11-2006, 11:29 PM
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great money but I thought for sure it would have been higher
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#3
02-12-2006, 12:03 AM
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some people thought that would be the first $1.0mm GTO. I can't believe he let that go at that number.
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#4
02-12-2006, 12:10 AM
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extremely rare and very desirable? no question...
concours and near perfect? not in my opinion. for a muscle pontiac to command a cool mil it better be near perfect....super rare isnt enough. also its an automatic - that cant be a plus... |
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#5
02-12-2006, 12:42 AM
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According to RM's website, buyer's premium was 7% of the auction price, $400,000 + 7% = $428,000 cost to the buyer. The seller's commission was 10% with reserve, 8% with no reserve. So the seller probably got $368,000 since the reserve was lifted.
The biggest winner here would be the auction house with a profit of $60,000 (28K from the buyer, plus 32K from the seller. I would guess the seller expected to walk away with more than $368,000 from the sale of this car. |
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#6
02-12-2006, 12:44 AM
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GTO's just don't bring the money some other cars do. Can't figure it out myself. Maybe we're just a redheaded stepchild of the muscle car industry. BTW, the $1.1 mil Chevelle was an auto on the COLUMN convertible with 56 miles I think. Automatic trans didn't seem to hurt it's value. I would think Pontiacs top performance option in a convertible would bring top dollar for a muscle car regardless of transmission. I was wrong. It did need a new radiator shroud. Maybe that hurt the value?
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#7
02-12-2006, 02:24 AM
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$400,000 actually isn't that much if you consider Tony had the car on his website last year for $800,000 and later it was marked sold. If it did sell for $800,000 last year than the buyer who sold it at RM lost big time. Unless Tony just held onto it and said it was sold and unloaded it himself finally. Otherwise still big money for a GTO.
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#8
02-12-2006, 10:25 AM
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Tony has a bad habbit of listing cars as sold when they haven't. It's very possible that he sold the car, and then took it back on consignment. I know that he's done that before.
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#9
02-12-2006, 01:17 PM
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whatever Tony lists on website, assume the opposite is the truth.
Quote:
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#10
02-12-2006, 01:37 PM
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Quote:
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#11
02-12-2006, 07:25 PM
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The car was restored by John Kane to a supposedly very high standard. It was in a feature arcticle about restoration in Pontiac Enthusiast Magazine before Christmas. The article dealt with John Kane and his shop. Curious, what were the flaws and who said it was restored by Scott? You are right, it's good that it finally sold and over with. Kinda funny after all that hype by Tony about the car on his site.
Last edited by Mark Simiele; 02-12-2006 at 08:14 PM. |
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#12
02-12-2006, 08:20 PM
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I didnt say it was restored by Tiemann,I said it was no Scott Tieman job. Had quite a few people call me and say it was nice but not as nice as a rare car such as this should have been done. Im familiar with John Cane and My friend has a judge convertible restored by him and its nice but was not very correct. I dont blame him for anything as Im sure Anthony probably handcuffed a bit not wanting to spend the kind of money that should have been spent. Im sure John is quite reasonable with his restoration prices. Has anyone ever brought up the drivetrain in that car?? I know Anthony always said it was numbers matching but when it was for sale around here years ago nothing was correct. Was it still Tony's still?? Seems like nobody knows mark. Lets see what kind of hype he can stir up now with whatever he's selling. He's definetly got the stories.
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#13
02-12-2006, 10:53 PM
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Interesting thread. Any word on who the new owner is?
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#14
02-13-2006, 12:19 AM
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Pete from legendary bought the car. Funny thing.....I was with the second owner of that car in scottsdale this year and now another friend buys it.
Small circle that ram iv circle is huh? |
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#15
02-13-2006, 07:29 AM
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What color was the 70 RAIV convert? Was it the black one with white top?
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#16
02-13-2006, 10:18 PM
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I know the interior was sandlewood, black exterior and I think the top was white but cannot confirm.
Last edited by Mark Simiele; 02-13-2006 at 10:25 PM. |
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#17
02-14-2006, 12:17 AM
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I think the top color is sandalwood too!
great combo! I don't know much of the history but I can tell by some of the posts that it must be a dandy! Most fully restored cars will come with ?marks I guess! |
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