[beamonk]

For those of you who don't know, Copart, a major auction house for wrecked or damaged cars is doing most of the insurance salvage on the gulf coast for Katrina flood vehicles. Today, Howard and I bid on a 72 T Euro coupe which was wrongly listed as a Turbo. It was one of his customer's cars which was totally inundated with Katrina salt water. This car ran before the storm, was stock basically, had an aftermarket tail and wheels and was swamped by the hurricane. We figured it would be safe to bid up to $2500, based on what we are seeing 72's going for these days. We had knowledge of this car, it was not too terribly rusty, although we had no idea of what happened after four months of sitting after the flood. The paint was poor with primer spots. It need a total going through to make it worth something, good shell to begin with, but after the storm, who knows. The car sold for $7800 or possibly more as I didn't see the final bid. Am I crazy here, or are the people who bought it crazy? Howard thinks that someone may have thought this was actually a Turbo and bought it thinking such. I am wondering if a totally swamped marginal vehicle goes for that much, how is the market for the early cars going to be a few years from now. The owner received less than what the car sold for! I'd be pissed!