Surprised this hasn't been discussed.

$302,000 plus buyers fee.... wow.. just wow!

 

Seriously, the car world has gone nuts. There are a lot of folks out there with more money than they know what to do with. It is a nice looking car but isn't 100k enough?
Steve

 

When you're playing the one-upmanship game, no.

Now is not a time to be playing fast and loose with money. The bubble busts like indications are it will, new owner will have that car a long time before he can recoup what he paid, much less make any money off it. But just because I was around when Hemi owners had their moments of doubt and pain after the 90s bubble burst...

My guess is new owner is a 30-something newly minted tech billionaire or hedge fund manager who has no real idea what he's just bought and had no intention other than paying a record price, just so he could say he did. Mecum will use it to their advantage too. They're only one step under B-J for hype and circus IMHO.

I liked it better when cars were cars and not part of some *******'s investment portfolio.

 

MECUM now advertises HAMMER price ($275,000) plus its estimated 10% buyer's fees ($27,500) for the $302,500 total - yes WOW, crazy clown world!!

 

Someone from Indiana maybe can enlighten me--if your not a legitimate dealer don't you also pay a sales tax in that state? Even if you're a non resident and taking it out of state to register elsewhere?

 

There are some really wealthy people out there. 195m for a Marilyn painting, 550m for a Bezos yacht, 175m for a 1 off Mercedes, 10 minute flights in space, and on and on. While college grads are paying off their loan till their 35. And on and on.

 

It'll probably go for half that next time around

 

In all honesty it would be very easy to say 'Who cares?', we perhaps can in a few situations, The true value (subjective) of a vehicle is how many good memories and times one has had with a particular choice. No dollar amount can replace the type of car you met your first love in, prom night, family vacations and so on. No bid can put a price on these. Will these bidders ever be able to actually drive and enjoy these cars. All this seems to do to our hobby, and keeps many out of it, are the skyrocketing prices people are asking for some very questionable builds, or even a heap which has been collecting rust sitting in a field for many years. Rocketraider said it all pretty much straight to the point.

 

Nailed it

 

So riddle me this... This car sells for 275k. Another W-30 coupe restored to the same quality (but gold and black) sells for 140k. Is it the fact that this is an award winner? Color combo? Is it the time and day this one went across the block? That's just too crazy.

 

The green with envy thing really isn't a good look folks. Geeze, every time a car goes for stupid money at auction, people whine about it. Yeah, some people have more money than others, and yeah, it's unfortunate that these cars become art and can never be driven or enjoyed. It's their money. I'm not going to lose a lot of sleep over it. Ironically, the people whining about an overpriced market are the same ones complaining that they can't get the money they want for something they are trying to sell.

 

I mentioned the crazy money I have invested in my 70-442 Vert. It’s taken 15+ yrs and tons of mostly NOS parts. Not ONE time did anyone sell me a needed part for anything close to “a good deal price point”. And I never expected them too. The reason I can afford to make my car show piece worthy stems from building a business from scratch and working my tail off. Not that anyone might give a rip, but I have never taken my car to a show (nothing at all wrong with that, just don’t have the time for that yet), I don’t attend Saturday cars/coffee get togethers, I simply have done the work on my car or paid someone to get my car to this point because I love my car and Oldsmobiles in general. I bought my first Olds 442 in 1977 and owned others until college. Then spent the next 25 yrs gearing up to purchase a 70-442 vert w/4 speed. When I retire I will darn sure drive it more often vs today. Btw, it’s never been on a trailer either. And when I can, I drive it fairly hard. Many years from now it will likely fetch nice $ and I will be fortunate to break even on it. No worries because I enjoy it so much. Why people bitch about these cars growing in value is a mystery to me. Olds 442’s have been undervalued vs other makes for decades and they are now rec their just due. For me, any Olds 442 between 65-72 are simply gorgeous cars with amazing lines, detailed engineering and refinement all in one.

 

Indeed Joe, and Cap. Well said.

 

Hey, I’m offended, what about our 65 442’s, maybe we should start redistributing the wealth so no one will have nothing.

 

I didn’t see one person whining about how much it sold for.

 

Seriously? Scroll up.

And that's just in this thread. There's another thread on the site about this same car and a boatload of comments in other online forums and FB groups.
And the whining happens every time another car hits a price that someone considers "too high".

 

Guess I didn’t pay that much attention. Who cares anyways? People are gonna complain, so what.

 

I have to day that is one beautiful car..love the color combo..stunning to the 10th power…

 

I’m not speaking for him, but the buyer is a well seasoned collector. He’s a self made man and he has been involved with Muscle cars since they were new.

 

You pay in Indiana upon titling a car in your name at the BMV. My Dad, same name, had my truck before I did. No issues transferring it from him to me when I moved it from FL to IN. When he gave me his old van, they took the old FL title (which they voided and gave back) from 1975 and asked me how I had a title in my name that predated me by four years. They liked the answer of "PFM....pure *ahem* magic" so much that they let it slide. But, never title it, never pay tax. This is why my H/O had a Las Vegas title when I bought it out of an Indiana dealer.

Ok, Mick.

 

Woo-woo...😈

Stefano, that puts a different spin on things. I've gotten so jaded to nouveaux-riche going after these cars for the reasons I mentioned I guess I don't stop to think that real car guys are still buying good cars for the sheer love of them.

 

Have you seen this?

https://www.cnbc.com/2022/05/19/merc...3-million.html

 

This.

A 1970 W30 is a 52 year old car. 52 years to buy it before it sold last week. I could've bought 93 Cobras real cheap in the late 90s. Now nice low mileage ones sell for over 100,000.

Guys that want these cars will pay, because its only money and thats why they work. And last I checked no one is taking anything with them. So if a guy wants to pay 300 grand for a car, who is anyone to judge him. Plus, there are other ways besides driving a car that brings enjoyment.

 

I will never be green with envy. Ever.

I will always sit by my thoughts and feelings. Why in the hell do you buy a high dollar muscle car to let it become a nothing? You take the soul right out. Go spend your money fools. 150 and up for a possible no paperwork "W" car that will never be tested to see if it really runs like one. Ever. I don't get it. Hey you got throw away money that you want to blow because you just want another garage floor plaque. Who can contest that. Go get it.

Imagine if people threw that money into their community.

PS: I know people get offended by my term Fools...
I stand by it 🍻

 

if you have the means to afford this car, you probably have others you can drive. So he’s not missing out on anything other than driving a car that’s not that fast compared to his daily driver Escalade.

“Throw your money away…”. If the seller bought this car a few years ago at 100,000 I’m sure the same people were saying he threw his money away. In reality he made 200,000 grand by buying it. Because it just sold for 300,000.

Anything that’s built in small quantities is going to be collectible. ANYTHING. It’s why we have collections and museums. It only becomes a problem when people get priced out.

 

One thing I always look for when I watch the BJ or Mecum Auctions, and believe you me, I see this alot:

If there is an auction wherein a Bidder is there with his wife, check out the look/expression on the wife's face when hubby just got caught up in a bidding war and just blasted away stupid money when winning the auction. It's usually one of:

* Shock
* Total red-eye anger
*utter sadness and disbelief
*I'm going to kill you when we get home
*All of the above.

Sadistically, I swear this is one of the main reasons I watch these auctions.

 

This appeals to my inner sociopath, i can't stand the rest of the crap, though. I haven't watched one of those auctions for probably 10 years, now.

 

We have two issues, new car shortages, they have drove used car prices to the point of ridiculous. Even cars like G bodies go for big money. About the only cheap cars are the mid 70's car, still that terrible stink on them, being from that time plus most were awful big boats and poorly made junk for the most part. The second is, the Pandemic made everyone potentially face death. They now want to buy every car, they ever wanted to own, no matter the cost.

 

The auction company is the winner here. Buyer's premiums; registration, bidding and whatever other fees they can tack on; publicity from a record price... it's nothing but a big circus. It's like trying to beat the house in Vegas.

Auctioneers count on winner-take-all and second-place-is-the-first-loser mentality. Good ones know how to exploit that.

 

Yes, some of the car auctions and auctioneers are very good at their jobs.

 

Exactly why you will never see me at an auction and being that fool. 300 grand for car that isn't even it's original color. Good buy 👍

Three Hundred Grand people. Three Hundred Grand