Oldsmobile @ Barrett-Jackson

[68Tom]

Have done well today! One blue '70 442 Vert w/ W-25 hood went for somewhere over $80K. A black '71 442 vert went for 86K.

And the big sale, was a world record for a red '70 442 W-30 vert. $157,500!!!!

Olds' are movin' up!

[IDAS 69]

watched also tom.... wow 157,500 I love my holiday hardtop even more!!!

[jensenracing77]

makes me want to cry for some of the cars that i have sold over the years. i am sure that you all have one of those stories.

[PetChemMan]

I was pleased to see a restored 1955 Olds convertible sell for about $82,000 at Barrett-Jackson , Palm Beach. True to form, however, the Speed Channel commentators were clueless about the car, and had almost no information to pass on . They know some things about 442 models, but that's all when it comes to Oldsmobiles.

[wmachine]

Originally Posted by 68Tom

Have done well today! One blue '70 442 Vert w/ W-25 hood went for somewhere over $80K. A black '71 442 vert went for 86K.

And the big sale, was a world record for a red '70 442 W-30 vert. $157,500!!!!

Olds' are movin' up!

Not trying to be negative, but as I've said before, the high values bring us nothing but trouble.
Think about it. What does that do besides feed our egos?
More expensive to buy
More expensive to keep; parts, insurance, security, etc.
Higher values attract an element that is only in it it for the money.
Fakes, fraud, and all that ugliness. Altered histories of cars polluting the the true gene pool of our cars. Not in theory, it is for real and happening on a very large scale.
I have yet to have anybody explain to me how the high values are a good thing.

[oldsonharmont]

Okay, so there's two type of owners here... one who enjoys Olds the way they are and doesn't want to see that change. And the other who thinks his car is an investment that should appreciate. I can see both points of view here and probably fall somewhere between the two.

When I was planning to purchase my SX last summer a trusted mechanic suggested I treat the car like a business. Do only the work that will increase it's value. The problem is I'm too fussy (or anal) of an owner who wants it perfect down to the last nut and bolt. Probably not a good investment strategy to follow, but them I'm not completely in it for the money. Whatever preserves another vintage Olds works for me.

[wmachine]

Mike, there are all kinds of owners. Though you're somewhat "investment" minded, you're one of the good guys. Your car is far more than a commodity to you, and you wouldn't bastardize your car to increase your return on your investment.
Your trusted mechanic is on the right track in what he suggests. If you just throw money at your car, you can spend more and end up with less than you really want to. So a financial game plan and attention to the financial details are more than just a good idea.
I'm not suggesting that Oldsmobile should be worthless. They need to have a substantial enough value to merit reproduction parts, to say the least. They can still be worth a more modest amount, still be worthwhile "investments", and still require financial diligence to maintain the investments we have without shooting way up in value.
What I am suggesting is that that we get the stars out of our eyes when we see a $100k Olds at BJ and understand what that really does to the Oldsmobile hobby as a whole.
Mike, I know you wouldn't be happy to find your SX was a plain Cutlass that someone stuck badges on. Body tags and paperwork? Already being forged for Oldsmobiles. I've seen it.

[oldsonharmont]

I couldn't have said that better myself... and I think that's exactly what my mechanic friend was driving at too. Luckily for me, my wife is always there to keep my restoration under budget. And although it's nice to see the brand get some respect, there's definetely a downside to out of control prices. Having owned an '70 SS 454 Chevelle in my youth, I can't tell you how much crap I've seen passed off as original over the years.
On the other hand, it was nice to have a title history with my '71 SX 'survivor' and to find matching numbers on the engine block.

[68Tom]

When it comes to my vehicles, I am about getting things how they were done originally. However, I have no intention of letting them sit around collecting dust. When I finish the '68 in June, I'm DRIVING it back from Phoenix to NYC, redline Firestone Wide Ovals and all. These cars are meant to be driven.

While I understand collectors and appreciate the rarity of cars, if having a "perfect number's matching" vehicle means that I'm never going to be able to drive it, I'd rather just make a clone, call it such, and enjoy it. Despite this understanding, part of me finds it utterly ridiculous to spend over $100K (or 500K for that matter) on a car, only to NEVER get to experience the car the way it was meant to be experienced. Part of a vehicle is it's outward beauty. The other part is to get it on the road and drive like hell with it! (depending on the vehicle, obviously)

I guess the reason I posted this initially, was it was nice to see Olds' get some recognition. I hope it doesn't drive other prices up. We were dealing with 1 of under 100 made of each of them that sold, so I kind of don't think it will. Plus, the level of cars at this B-J was pretty poor (at least in comparison to the upcoming Mecum auction in Indy) so the rich people needed to spend their money on something.

And my car will never be valuable. That went out the window when I decided it wasn't worth spending $20K in metal work on it. So, it's now not number's matching. And I don't care. I'm spending the money on it to enjoy it...on the road and in the garage.

[oldsonharmont]

Another downside to having a high-dollar restoration, is that you don't even want to take the car out for fear of losing value. What's the point then? Having a restored driver or a museum piece is what I'm talking about. I think part of the fun of owning these cars is taking them out for shows and meets. I want my car done right, but not to the point where I can't enjoy it.

[agtw31]

i bet that car never sees the road.

[PetChemMan]

I got a bit irritated by the Barrett-Jackson Speed channel crew calling some cars "collector" cars, while stating that other cars are definitely not collector cars. In doing so, they seem to be critical of cars not on their personal favorite list. I think that nearly any vehicle that is sold at that auction qualifies as a collector car, but not all are clearly " investment" cars ; that is, cars that have a good chance of appreciating substantially in the next five to ten years. Most people willing to pay top dollar for a restored or pristine original are not planning on making the car their one and only daily driver, and so I think the car qualifies as part of a collection even if the collection is only two or three vehicles. Ironically, one car they stated as definitely not being a collector car was a 1963 Olds Starfire, which sold for $15,000. That car has probably held it's value for several years, and will continue to do so, if not rise in value. Many of the high dollar cars they call collector cars have depreciated dramatically in the past three years. For instance, the Hemi powered Mopars that sold three years ago for $300,000 are now bringing less than half of that, mostly because the market has been flooded with them. So which car was really a " collectable" car ?

[wmachine]

Originally Posted by PetChemMan

I got a bit irritated by the Barrett-Jackson Speed channel crew calling some cars "collector" cars, while stating that other cars are definitely not collector cars. In doing so, they seem to be critical of cars not on their personal favorite list. I think that nearly any vehicle that is sold at that auction qualifies as a collector car, but not all are clearly " investment" cars ; that is, cars that have a good chance of appreciating substantially in the next five to ten years. Most people willing to pay top dollar for a restored or pristine original are not planning on making the car their one and only daily driver, and so I think the car qualifies as part of a collection even if the collection is only two or three vehicles. Ironically, one car they stated as definitely not being a collector car was a 1963 Olds Starfire, which sold for $15,000. That car has probably held it's value for several years, and will continue to do so, if not rise in value. Many of the high dollar cars they call collector cars have depreciated dramatically in the past three years. For instance, the Hemi powered Mopars that sold three years ago for $300,000 are now bringing less than half of that, mostly because the market has been flooded with them. So which car was really a " collectable" car ?

As you've noticed, the guys there really don't know nearly as much as they think they do about just about everything. Not so bad that they don't know, but especially bad that they *think* they do know.
I usually watch with the sound turned down to try to avoid the aggravation, but then you still have to watch that idiot Mike Joy touching and running his hands all over the cars.

[oldsonharmont]

It was fun to watch this a few years back when Brock Yates (of Car & Driver fame) was one of the B-J commentators. He simply could not fathom how a domestic model such as a Chevy Bel-Air could command the same dough as a Dusenberg. Needless to say poor Brock didn't last long in the broadcast booth. (nor was he well versed on his domestic brands)

Being a tv event, the auction is all about selling the cars and the event itself. The broadcast team is well advised to not let their commentary get in the way of the business at hand. Even if they are somewhat ignorant about certain models crossing the block, it is better than being negative.

[agtw31]

the guy that does commentary that wears the Clark Kent glasses(i believe he works for Car Craft)came to the Dick Miller Olds nationals at Norwalk back in '05,and he was a pretty clueless dude.

when a Camaro comes across the block,he falls all over himself.

[oldsonharmont]

Speaking of Camaros, I'd be willing to bet there's a correlation between which cars cross the block and the tv ratings. If the ratings spike when a 'Vette or Camaro are up then they'll try to run as many through as they can. Incresed ratings equals higher tv revenue to B-J and subsequently higher priced spots on the Speed Channel.

[Cecil Anderson]

Why waste a lot of money on food, when you can purchase rare car parts. Andy