COPO prices down at Mecum???

[Pacecarjeff]

The stock market is moving higher.
Speculator/Investors are off working other things.
This muscle car hobby is going to turn back to real "car guys".

The very rare, and desirable cars will stay high $$, but average stuff is going to fall dramatically.
1990 all over again, just watch.......

[John]

recently there was a 1968 "corvette bronze" Yenko camaro on the Legendary Motorcars website for sale....
.....SOLD
and also a Yellow 1969 Yenko Chevelle for sale
.....SOLD
......I think there are serveral cars that sell "under the radar" that not everyone hears about....especially if they are "low mile originals"
......or the more sought after colors.
.....I think the documented cars will keep climbing.
...the "clones" on the other hand...are just nice "drivers"
..

[427king]

I agree. Just because the housing market is off, that doesnt mean waterfront in Malibu is down ,just because the price of a
condo in Detroit is.

[427king]

Does this mean resto prices are coming down too???

[SMGCO]

[ QUOTE ]
Does this mean resto prices are coming down too???

[/ QUOTE ]

Absolutely not. They will continue to increase ( labor and parts ) unless there is a very unlikely major downturn in the economy and disposible income really dries up.

[Xplantdad]

[ QUOTE ]
I agree. Just because the housing market is off, that doesnt mean waterfront in Malibu is down ,just because the price of a
condo in Detroit is.

[/ QUOTE ]

Dammit...time to sell the condo in Detroit

[Paul D]

Just a thought....the stock market was very strong in the 3rd quarter and usually collectables go the opposite direction or plateau in a strong equities market.

I think it's major different from 1990 when most transaction were between brokers, and when "the music stopped" the bottom fell out. That's a lot different from today where prices may be taking a breather after two or three years of strong appreciation.

I was also at Mecum, and felt that prices were pretty strong for great cars.... especially race cars as witnessed by the Super Duty Pontiacs that were exceptionally strong. Corvettes were definitely weak, and I just wish that I would have been a bidder on a few of the COPO's.... especially the Yellow Turbo 400 Chevelle. That is one impressive car, and $150k plus commission is awfully light! Is it still for sale?

[ohhawk]

The auction results have now been posted on their website. Everyone has their favorites to follow. Some that I followed.........

* the 25 mile red 70 Chevelle LS6 - no sale at $330,000
* 70 Olds W30 Convt. - $175,000
* 69 Blue/White Z28 - sold at $204,750
* 70 Chevelle LS5 Convt.(no docs) - sold at $89,250
* 70 Chevelle L34 Convt.(with docs) - $136,500
* 66 Biscayne Black L72 - sold at $53,550
* 70 LS6 El Camino Silver (docs?) - no sale at $50,000
* 68 L89 Chevelle - sold for $76,125
* 70 GSX White - no sale at $90,000 couple others sold for less
* 70 Z28 1 owner 23,000 miles (docs) - sold at $57,750
* 70 LS6 Chevelle Blk. Cherry (docs) - no sale at $75,000
* 70 LS6 Chevelle (Gold, I believe, with docs) no sale at $85,000. Item S180....looked nicely done.

A mixed bag of results I thought. COPOs looked to struggle to reach seller's expectations.

[Jeff H]

Did anyone see the Blue/White 69 Z28 in person?

[mrrec]

[ QUOTE ]
Did anyone see the Blue/White 69 Z28 in person?

[/ QUOTE ]

Yes. It is an old 10' repaint, but otherwise largely original, unmolested car with tons of real docs. One of a very few cars that might be considered a real xram as there is a dealer receipt showing installation in '69.

Dave