On a much less grander scale regarding the eye-popping prices Mecum is getting for some of these auctions: a red 1996 Cutlass Supreme $8,125. This same car was just sold by a dealer out west for $3,000 a couple of months ago. Whoever bought it better love it, that's more than double what they'd get if they turned around and tried to re-sell it. And this one's not even a high optioned car, it's probably a Series I or Series II. That means, no rear seat Pass Thru to the trunk, no Variable Effort Steering, no leather interior, I don't think it even had a power seat. The one thing it had going for it was the combo CD/Cassette radio, that was an available option on the Series I or II levels, with that you got the leather steering wheel and the leather shift ****.

Beautiful low mileage (38,xxx) example of a CS of this era, nice color, but over $8000?!?. Only the convertibles are getting (maybe) that money.

 

I saw that auction and was totally taken by surprise at the winning bid... I have had a lot of very nice W-Bodies in the past, just as nice as the one auctioned, and never purchased or sold one even close to $8K...

 

Plus they're paying the 10% - 12% buyer fees Mecum charges on each sale....

Makes me crazy to wonder what exponentially greater price my nice but essentially non-pedigree ragtop might bring across their block that I'd have practically no hope of selling it for by any more typical efforts.

 

This is true when watching cars cross the block, but when looking at the results posted on Mecum's website, the buyers premium is included (has been added onto the hammer price) in the final sale price listed.

 

Good to know, thx for that. Of interest today, Lot U248, one of those 2004 Earnhart Monte Carlos with the Supercharged 3800 V6, then Lot U276, a 1984 Hurst Olds with after market wheels.

 

Clearly, you bunch of greedy bastids are a different type of "enthusiast" than myself.

 

😂 lol

 

Good point, I buy my cars to use and ride, I can and would have no problem getting in any one of mine and drive cross country. Tomorrow. The only driving these investor cars are going to see is into the trailer. And out of it. Maybe. Fine for them if they like that stuff, but I swear they are creating a bubble that WILL burst someday. How the heck can this sustain itself.

 

Generally speaking, with only a few exceptions, cars are not investments. It's riskier than the stock market and the return is not that great. In my mind, old cars are meant to enjoy and work on and that's it.

 

I agree that old cars are meant to be enjoyed. However, if you watch Mecum enough times you will notice that some of these guys are buying a car at one auction and then selling it again later that year at another. They treat them more as a commodity than a classic car.

 

I just don't get it. Why would you buy a muscle car that just sits. Completely defeats why those cars were built.

Like you said though. Just an investment period. Commodity period.