Completed My Science Project

[unclebilly]

Ya know... That looks nice enough and is rare enough that you might get big money for it at one of the big classic car auctions... Even after the auction houses's take.

[VINMAN]

Beautiful! Sad to see you selling it

[M.D. Holloway]

well if no one else is gonna ask I best do it....how much you asking?

[stealthn]

Take it to Barrett Jackson and sell it for 120k

[asphaltgambler]

To answer a few of the above questions. The current sold market for this car (with the supporting documentation) is $47K to $55K possibly more with the right buyer. This car is very unusual where it was ordered without Cowl Induction (hood flapper) and column shift. It also did not come with stripes installed. They were part of the Cowl Induction package or the customer could order that and the hood pins seperately or together at addtional cost.

Most people, including me really want the cowl indcution hood flapper and a 4-speed. If it had either or both of those originally it would sell at the top of the price range. I listed the car for $45K - no haggle. My take on this is when I purchase a vehicle, I already know the current price point of the sold market. I try to make the veh in every way as nice as my projected budget allows and then sell for just under market. That is a guaranteed quick sale and a very satisfied buyer every time.

I believe this is the same basic principle when successfully trading stocks.

The big 3 manufacturers made the most profit on the add-on options. Some were bundled, some could be deleted and some could be ala-carte. My speculation is the person who ordered this car specifically wanted an all black, non-flashy gentleman's hot rod with A/C. Possibly for the wife. The LS6 engine was only another $300 or so past the LS5 454 but you could not get A/C with that engine. It was a very high compression, solid lifter high revving combination. GM felt the compressor would'nt stand the quick & high RPM's that engine was capable of.

After speaking with several 'qualified' buyers it looks like it is going to a guy in Tennessee who is an average working stiff, this particular car has been his life's dream to own and he recently came into a large sum of money. Married - 2.5 kids, mortgage....you get the picture. The deal is scheduled to complete next Saturday.

[Hard-Deck]

Absolutely stunning! Makes me think of being 17 again....which WAS good.

[asphaltgambler]

Melba Toast Man - Melba Toast!!!

[asphaltgambler]

Also to address the auctions. The cost at the end of the day to list a car with one of the major auction companies is huge! You also have to figure good transportation which is also not cheap! I live in Northern Va and there are no large auction houses that do speciality cars close enough to make it worthwhile.

If you're a seller or a buyer at a place like Mecum's or Barrett's it's no different than going to a strip club. From the moment you walk in you start bleeding cash. I swear if they could figure out how to charge you for the air you breath - they's already be doing it. Plus it's hit or miss with buyers unless it is really something special

[Tobra]

Friend in High School had a car like that.

Well, not like that, it said "Cowl Induction" on the side of the hood.


Oh, and it had ratty blue paint, crappy upholstery, mismatched wheels and much more rust. It was mighty fast though, would pass anything but a gas station.

[strath44]

Originally Posted by Laneco

Seriously?

angela

No they are not serious! How can you have over 4000 posts on a car forum and comment "seriously" to a remark about someone who is posting about completing a car project.

sorry bad day, but really!?

by the way amazing car, the electric conversion is so subtle.......

[Steve Carlton]

I think she just misunderstood the person she was quoting.

[Laneco]

Yeah, I don't think he realizes that two separate parties were addressed in my post containing his quote (of which he only quoted half). One half to someone who was remarking about it being a new car (and he was apparently joking) and then the rest to Asphaltgambler. Easy to mis-read internet stuff. I just let it slide off like water from a duck's back.

Now - for AsphaltGambler - have some question for you...

Originally Posted by asphaltgambler

....If you're a seller or a buyer at a place like Mecum's or Barrett's it's no different than going to a strip club. From the moment you walk in you start bleeding cash. I swear if they could figure out how to charge you for the air you breath - they's already be doing it. Plus it's hit or miss with buyers unless it is really something special

We have a car we're considering sending to Barrett's but I've got some concerns which seem to come up in your comments. I see buyer's premiums, seller's premiums, listing fees, etc. What other fees, etc., are charged? I'm really waffling on sending this car to an auction and trying to determine what else might come up $$ wise.

angela

[onewhippedpuppy]

I've heard nothing but bad about the classic car auctions. If you're selling they rake you over the coals with fees and the auction company take, if you're buying the limited ability to check out the car ups the risk of buying an overpriced POS. I think asphaltgambler has the right idea.

[asphaltgambler]

For more specifics concerning %'s and fees at the 2 large (TV time) auctions houses. For any given vehicle for sale: 10% buyers premium, 8% sellers premium right off the bat. So take a veh that sold for $50K. In this case the successful bidder pays an additional $5K on top of the sell price. The seller gets $4K less than the sale price. In this example the car really sold for $55K. The buyer really only gets $46K. The auction house just received a total of $9K of front-end percentages on $50K deal.

But wait!!! - There's more!! There is transportation costs, storage fees once there and of course for the VIP treatment there $$ upgrades to 'enhance' the location IE: outside common parking (staging area) better outside parking (closer to the many people who walk by) inside the tents, or better yet inside the actual auction house. All this is "available" to the seller. Then of course there is registration fees, etc, etc for both buyer and seller. Just like Vegas gambling establishments the adult beverages are strong and are frequently comped to the 'Big fish' buyers. Food is plentiful and pretty hostesses everywhere.

If you are the seller and want to further enhance your chances of a higher end buyer you could opt for "prime time TV spot" = additional fees and or % of the sale as well. Further the auction will really pressure you to do a "no reserve sale" which means exactly that. They sometimes will discount the seller % or fees to encourage that. This guarantees a sale and ensure the house get's its take every time. The auction gives @3 minutes per car to complete the process once "on the block' - sometimes less or sometimes more if the vehicle is very high dollar or the bidding on a particular car goes way past normal

[herr_oberst]

^^^

But, if your car catches the eye of the right people, you might get lucky and have a couple of well-heeled bidders get caught up with the auction fever!

Frankly, I've never understood how Carini is as successful as he seems to be on teevee, and my suspicion is, (really going out on a limb here) is that he is heavily enough sponsored by RM to the point where he never leaves personal money on the table. Showbiz, bay-bee.