Barrett Jackson Again

[glenncal1]

Would somebody please tell me what was so special about the white 1958 356 that just went for $125,000? Was not a carrera or a speedster, looked like a nice but not spectacular resto. I came in toward the end of the bidding and even the commentators were somewhat stunned by the price.

[das908kind]

What was the mileage? Was it FOR SURE restored? Often, un-restored original cars, even if they are a bit "faded" can fetch a fair bit of dough, simply for the time-capsule aspect.

[JeremyD]

60k car - just happened that two people wanted it. it was an "a"

[efhughes3]

Ground up restore in the 90's is what I saw, IIRC.

[lagrassa]

I think all those cars on the auction have gone for prices above what they are really worth. It's really a matter of "collectors" wanting the particular car at any price and that drives up the bidding and the selling prices. I thinK B-J is the real winner while collecting their fees from both buyer and seller.

[Charlie V]

I agree with JeremyD.......2 people were bidding their wallets empty because they wanted it. That is one of the fundamental challenges an auction brings - too much passion and ego before $.

[Porsche Doc]

Yep, I been watchen!
It LooKs like I gota tell a few of my 356 customers that there gona have to up there insurance polices.

I can't wait till the 917K That there gona sell.
Its not real! But its damn nice!
You could have a real blast with it.

He ya go.
http://www.barrett-jackson.com/events/scottsdale/vehicles/cardetail_list.asp?id=183277

[efhughes3]

No, ironically, the auction establishes what they're worth. It is a free market, and nobody holds a gun to their head. Whether we agree with it or not, this is the contrivutes to how values are established. It could all tank tomorrow or next year, but in today's market, these prices are what people will pay.

Originally posted by lagrassa
I think all those cars on the auction have gone for prices above what they are really worth. It's really a matter of "collectors" wanting the particular car at any price and that drives up the bidding and the selling prices. I thinK B-J is the real winner while collecting their fees from both buyer and seller.

[glenncal1]

I wonder if there is a B-J premium due to the coverage on Speed etc. I know that auctions fever gets people going I just wonder if they are paying extra to be part of the scene. You could buy a 356 and resore it for less that $125k.

[imcarthur]

Originally posted by glenncal1
I wonder if there is a B-J premium due to the coverage on Speed

No doubt. B-J engineer it & encourage it with their 'assistants'. And bidders get their 15 seconds of TV fame.

The innane commentators blathered about B-J buyers look for instant gratification rather than originality & the high pricing on the custom cars reflects that. B-J buyers want to drive it NOW.

Ian

[JeremyD]

Yeah like how they said on the 930 cabriolet that owners sometime modify with a chip to get more hp and make less driveable- on a CIS car!

[Pele911]

It is obvious that the B-J announcers miss having Alan Decadenet (sp?) as in years past on the show because these guys know almost nothing about Porsches. There was a 930 slant nose whcih had a Ruf intercooler, white gauges and some aditional body work and those guys couldnt tell if it was modified or factory. There is les and less Ferraris and Porsches being sold there to make way for the gross Boyd Coddington cars.

[Venetian]

"the B-J announcers miss having Alan Decadenet (sp?) as in years past "

Does anyone know why he is not there??

[efhughes3]

I was wondering if Alain and Brock Yates might not be there tonight and Saturday, their "Prime" nights. Maybe not...

[lagrassa]

No, ironically, the auction establishes what they're worth. It is a free market, and nobody holds a gun to their head. Whether we agree with it or not, this is the contrivutes to how values are established. It could all tank tomorrow or next year, but in today's market, these prices are what people will pay.

I disagree and stand by my statement. There is no way in hell that that 356A trading privately would go for that kind of money. I'll admit that it was really nice car, and I'd like to have it, but even if I had the money, I wouldn't pay that much for it. It's all about the frenzy of the auction, the live TV coverage, and the like. I still maintain that B-J is the only real winner.

[efhughes3]

Well again, you or I may not think that is what we'd pay for a 356. I don't think I'd pop $200K for a new Bentley either, but others would. That is the point I'm trying to make. A guy put the Porsche up for auction, and someone paid $120K. By my calcs, that is the value of that car, at least in one person's eyes, and that is all it takes.

[JeremyD]

That doesn;t mean it's the market rate though. unsophisticated buyers will be seperated from their money quicker and more effeciently than sophisticated ones...

[efhughes3]

Agreed, but as ol' PT Barnum said...a fool's born every minute.

[KNS]

Decadenet doesn't have much of an interest in most of the American cars (he has said so during past BJ auctions). BJ has become so heavy with the muscle car/hot rods in recent years that I wouldn't be surprised if he didn't show up.

[glenncal1]

They also mentioned that Brock Yates had taken some kind of a fall and couldn't be there.