VCCA Home Forums GENERAL DISCUSSION General Discussions BARRETT JACKSON

BARRETT JACKSON STARTS TONIGHT: wonder if there will be any change in the price of vehicles with the "Economy" in peril? My guess is the people paying the big ticket aren't too worried about it, they've got theirs safely tucked away. So the bidding begins ..sometimes obscene, some seem to have way more money than brains. Quite a show, I went once a couple years ago when my dad wintered in Mesa, quite a show indeed.

The auction is in the third hour. Prices seem moderate so far. But it is still early in the 34 hours of entertainment.

I attended today and several dealers who are selling multiple cars told me they expected prices to be down 10-15% from last year. They told me it was a buyer's market this year. None felt that the 225+ GM Heritage cars would make any difference since most are being sold with "scrap" titles or "bill of sale only."

I also noticed that the consignment tent was about three times the size of last year. I suspect some do not want to commit their cars to no reserve.

A 1959 Nash Metro selling for $30,000.00 and a BMW Isetta selling for $40,000 does not indicate tight money to me.

Two cars do not make a market.

Dealers who told me they expected prices to be down 10-15% said that is what the recent Las Vegas Barrett-Jackson was down from last year's market prices (not Barrett-Jackson LV prices since this was first year for Vegas show).

I don't know about anyone else but I am already tired of the GM test track cars. They are not very interesting sales.

Worse yet, GM had a display of their new cars and they were not very exciting, except the new Camero which will start at $32,000.

Is this auction on the Speed Channel?
What time is it being aired?

Yes, on the Speed Channel, as I remember Tuesday 7-12 PM EST, Wed. 7-12 PM, Thurs. 7-12 PM, Friday 2-12 PM Saturday 2-12 PM and Sunday 1-5 PM for a total of 39 hours LIVE. If I am off on the times someone please correct. I have programed the DVR to record all of them so don't have to remember the times.

One thing I have noticed and I like to see is that under the hood most of the vehicles have a satin black finish. Unlike most of the vehicles on the judging field with a high gloss finish. The only thingg I have noticed with high gloss is the breather.

many of the vehicles on the auction block are over-restored. no way did the engine compartments and undercarrages look that good from the factory. but as the hosts have said, some people want them super shiny and some want them correct.

I have watched bits and pieces of the auctions on Tuesday and Wednesday. Most of the cars that I watched sell did not indicate to me that the conditions of the economy had any bearing on the prices of the vehicles all that much. Yes, some cars were good buys, but the others sold like the buyer just couldn't wait to part with all of his money.

Dog, do you think it might be possible the economy is not as bad as the media is reporting? After all, while they have been telling us for some time that we are in a recession or even a depression, but by economic definition we are not. That takes two quarters in a row of a drop in the GDP, and the last I heard that has yet to happen.

I have checked the selling price a couple of cars of interest to me with NADA figures and they sold somewhere between "AVG" and "HIGH". And this is plus the 10% buyers premium. Thus, a car sold for $25,000 actually costs the buyer $27,500.

There are at least three other classic car auctions in the Scottsdale area this week (Russo-Steele, Silver, Biltmore). It will also be interested to see what they bring.

Well.....around in my area the economy is really bad....houses are not selling and the price of real estate has really dropped, and our unemployment rate is up (I think that we are in the top 4 or 5 in the nation). But.....you know the true collectors still seem to have plenty of money for buying collectibles and the old car dudes are still spending money on their cars. So, the economy situation hasn't really put a dampener on the collectible hobby all that much. However, when the Scottsdale auction is over, the total sales can be compared with last year and then we can get a true picture. Interesting though, as of last night....in only two days of auction sales, they have already gone over eight million dollars worth of sales!

Bad economy? Not at Scottsdale!

I do have a problem with the "unrestored" 62 Impala with an "old repaint and an engine detail with some chrome work" I was surprised that it sold for 25K, which was about right but seems way off for the BJ event. But then again, a small block 62 SS can be found without paying a buyer fee and a shipping bill. I think the odd stuff will bring the money.
I also thought the 58 Chevy Pick-up with the Napco 4WD was real nice and done very well and correct sold for a very good price.
Enjoy
John

On the flip-side of the coin was that weird looking 1923 Oldsmobile touring street rod that sold for $200,000. Holy Cow!

I never understood the whole street rod thing anyway, for the most part they all look the same to me.
John

I can't believe Mike Joy had never seen a turboglide before

As of a couple hours ago, 420 cars brought in $10,600.00.

hoppy

For the most part they are calling the cars Restomods. They are basicly stock with some modern upgrages like one of our National Board Members has. Upgrade the brakes, automatic trans, AC, more modern engine.

Typo? Did you mean 10,000,600.00?

Dog, you hit the nail on the head about the economy. There is not a single economy in US, but 50 economies. States like OR, CA, MI, the rust belt, and the Northeast with high taxes and extensive anti-business government regulations are probably in a recession which could last until they change their governments; while states with lower taxes and business-friendly governments in the plains and rockies, south and southwest are doing a lot better. There seemed to be no shortage of money in Scottsdale this week. The Scottsdale airport is loaded with private jets; and Barrett-Jackson has an area where they sell private jets and boats, and it was busy.

One other thing that might have a positive impact on prices at B-J is condition. In previous years there were more cars with flaws than this year. The cars we saw there the last couple of days seemed to be in much better condition than previous years.

Also, don't forget the Barrett-Jackson is not the only classic car auction in the Scottsdale area this week. ICA, Russo-Steele, Silver, Kruse, Gooding & Gooding, and RM at the Biltmore Hotel all have auctions. While B-J has the largest number of cars, RM and Gooding are about big numbers of dollars with most in the 6 figures and several drawing well over $1 million.

All in all, if you are a classic car fan, it is a great time to live in the Scottsdale area. We go to one a day. Today we're going to Russo-Steel. The major problem with B-J is it is packed with people on Friday and Saturday so you are better off watching it on TV.

In my opinion the 1935 Ford Red Roadster(lot 735) and the 1937 Plymouth Blue Roadster (lot 717) were just great!

That is so VERY TRUE! The East Coast media would make you think that whatever happens in New York, Philly, D.C. Chicago and L.A. is what is happening everywhere, even in the interior wastelands where some of us do remain ( why we remain here is a puzzle to them) .

Well put!

Absolutely! And, to put the picture in more of a prospective for this area, here in Southern Oregon things have always been depressed when retail sales, the housing market and etc. are compared to average job wages. Back in the Great Depression days, Southern Oregon never really felt the Great Depression because things were already "depressed" here anyway!

glyl--Yup-I meant $10,600,00.00. My original figure would be an average of $25.24 each!! Now that would be my kind of auction.

hoppy

Just a little leg pulling going on! Some very nice older rolling stock was sold last night. Some real nice Packards.

There was a black and white '57 with Vin number 2 that sold for $150,000. It looked to have a 235 ci, with three on the tree. It was sold in October 1956 to a 68 year old lady that drove it they said until she was in her 90's. It had a tad over 46,000 miles on the odometer. She'd paid $2,374 plus a trade in of a 1952(?) Chevy. There was all kinds of original paperwork and a box of old parts that had been replaced over the years. A fella that appeared to be in his 70's and his wife bought it. She looked pretty excited about the purchase.

A little later another '57 less pristene; engine had been changed to a 327(?) sold for $97,000(?).