Watched quite a bit of the B-J Scottsdale auction this year (Dvr'd it, fast forwarded thru quite a bit). Like real estate prices, I have to say, I am surprised at the level of prices on cars and possibly even more so regarding automobilia prices. I bought a nearly flawless 60 in diameter round "Oldsmobile Service" porcelain sign about 10 yrs that included the mounting ring (the original mounting rings are fairly hard to come by) for about $1400 (which I thought was really high back then). Same sign sold today for over $11K with the mounting ring. Cars, especially resto mods that were bringing $100k-300k have at least doubled in the last few yrs. Many buyers find the money to purchase loads of items as if they were using monopoly money is something I have never seen before. Some resto mods no doubt had insane levels of work put into them, but still. Some cars that I thought might fetch $300k sold for $600K+. If this mkt ever cools again there will be some people way upside down on these purchases, not that they seem to care about ROI.

 

People will calm down when the world doesn't end.

 

I watched alot of it as well, makes me glad I have what I have and don't want or need to buy anything.

I'm tempted to sell our 69 Camaro 6 cylinder. That's a non-Olds so it can go.

 

Not a question of if. More like the fact of when.

Just seems to me judging by the prices being paid that so many collector cars are being bought by people that really aren't an expert on said cars. Just throwing money out there.

 

I've said it before, and I'll say it again, when prices get that high, you're not going to be driving the car. You're just going to sit it in a room and tell others "It's a 2023 'vette number 1. First one off the line. I got it for 3.5 million, just had to have it". By the way, that's the actual price it went for.

Where's the fun in having a car like that if you're never going to drive it. Or if you spent so much that you're scared to drive it.

Later on in the show I saw a 2007 Shelby Mustang, number 1 off the line. It sold for $75K. Only 35 miles on the odometer. I wanna smack these buyers sometimes.

 

One big thing to remember on cars like the $3.5 million vette listed above is that it is a sale for charity so anything over the MSRP can be written off as a charitable donation. Of course you need to make a lot of money each year to have that big of a write off on your taxes though. About half way through the coverage on Friday, Craig Jackson mentioned that the business office had just passed $2 BILLION in pre authorized bidder approvals.

 

And I'll bet you couldn't tell it apart from #2 off the line that DID NOT sell for 3.5 million.

 

That car was purchased by Rick Hendrick who is known to buy Serial #1 of the new Vette when they come out. He has a very substantial collection and gives huge amounts to charity.

 

I am so mixed on what I want to do next. I want to restore another car but with the restoration costs so high I simply can't afford and don't have the space to do one without selling at least one of my cars. When I see the auction prices so high I think maybe I could sell my 4 seed Jetfire and get enough to cover the cost of the next restoration but at the same time I don't want to sell it. I enjoy both restoring them and driving them and can't do both at the same time sadly.

 

Those Y-body cars aren't really fetching the big bucks yet. I'd sit tight.

 

You need to loan some to a museum and go drive them every so often. The Jensen Collection.

 

Couldn't agree more. What's the point? Seriously. What is the point?

 

I think you've gotta have a BIG collection and a lot of money, like obscene money. I met a guy last weekend with one of these cars; a supposed 1 of a kind Camaro Convertible blown Indy Pace car (modern 5th gen) kept in a bubble. Parked next to a Plymouth Superbird and out in the barn a dozen other classic Chevys including a tri-5 powered by a 427 ZL1 all Aluminum BBC, that engine alone is probably worth more than most our cars. When you have a big collection with several drivers keeping 1 in a Bubble to just stare at, is probably part of the fun.

We're seeing a lot of records being broken at these auctions because the dollar is really in the toilet at the moment (can't print trillions without devaluation) and many people are moving money/stocks/crypto into hard assets and collector/classic cars are a hot place at the moment.

 

I have had a really good offer on this one that I have turned down. It would cover the next restoration for sure. I am just curious what it would do at auction. I just can't bring myself to let it go. Also not sure what I would restore next. Just have to wait and decide later.

 

lol, I know a place that would take my 4 speed Jetfire for a year. Thought about doing it long enough to get some work done on my wifes Jetfire. I want to pull much of her car apart and freshen it up. Not a restoration, just a major refresh.

 

It will come to you in good-time..don’t rush it, enjoy what you have..one day you will see it, then you will know..