69 Z28 Sold for $112,000

While the word "provence" is a word some hate, it really should be one of the "cores" of determining value as far as I'm concerned. I don't think color and whether equiped with a 4spd or auto should be as important as paperwork and being able to unequivocally prove a car is what it is spposed to be. What is worth more..a reported Hugger Orange COPO with no paperwork, but a trim tag that falls into a certain build range....or...a 1969 L78 with real docs (not just a new looking POP) that is Mist green and an auto..I'll take the L78 all day, every day. I firmily believe we are entering into a time of declining prices on most of the cars. I don't see how prices can continue to go up, when there is so much apparent fraud and disception going on..restamped parts, faked trim tags, added POP's, etc. Therefore the cars that have "history" or "provence" will continue to appreciate (not as fast as we have seen since 2001 though), while the cars that don't have that sort of paper will loose value. Also there is a certain point when the people holding the disposable income to buy a collectible car will determine what is the "envogue look," and consequently the prices will be set accordingly.

I think we are seeing the prices reflect that the musclecar hobby is by far a group of older, white guys that were babyboomers. While as of right now they control the disposable income to buy 50k dollar "original" cars, the tides are shifting. More and more 20-30 somethings are wanting the look of a 1969 Camaro but without all the associated BS of building a "trailer queen" original car. I would bet that the guys that were building "original" Model T's in the 1950's and 1960's never thought people wouldn't want their cars as collectibles..how many get sold today? Have the prices appreciated in respect to inflation or income levels from 1950 to 2004? Doubt it..

[redline]

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Heck, if I won the Powerball I'd be down there next year with the Big Dogs and I'd probably drop more than $170,000 for that orange Hemi Superbird! I'd be like that guy who bought all four of the Callaway Corvettes for over $600,000! That'd be really fun to do, especially if money was no object. I'd be buyin' cars and high-rollin' and all those good looking women with the plastic surgery would be checkin' me out and...and...


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As much as it would be fun to get in on the action, I think that has to be one of the last places I'd actually buy a car, I don't care if I'm on TV for 15 seconds. I'd sooner search out the nice cars and by them right from the seller.

Jackson himself is nothing but a low life, trying to pump up the prices and his commission, makes me sick watching that guy smile and laugh the whole time. The announcers are so interested in the top selling cars $$$$$, big deal, I'd be more interested in the 'Best Deals'...but there probably isn't any there anyway.

$400,000 for a street rod?? what kind of resale is there in that 10 years down the road? Idiots.

[Eddie M.]

to me the deals to be had are from the local papers and maybe the swaps meets or just out driving around and looking

[SuperCars]

Jeff, I've heard the same flat fee auction commission also. As an example, I can understand how the "69 Z28 thread for $112,000" subject of this thread is possible. Two bidders that are partners in any car can bid each other up to sky's the limit, knowing with the flat fee arrangement, they won't be having to pay the seller&buyer commission. Their hope of course is that some sucker will jump in and bid at those high numbers. But if no one does, after the auction they still own the car and can advertise it later as a car that sold for $112,000 at auction.

I wonder if this has happened to a number of these unrealistic car sales price. It seems we may not know what were true sale prices here. Is $400K for a street rod a real sale? Why pay that as isn't it possible to get one built for less than $100K? Things don't seem right here, in my opinion.

[Belair62]

I think Charley was selling some of his old stash out in the lot !!!! Got those folks all juiced up for bidding !

[T Billigen]

Hey redline, love your hood! I had two NOS inserts a few years ago, man are they hard to find!!

[gemleeus]

the selling of the zepher at 400k is extreme, BUT "IF" the yellow z was a real jl8 car, with a crossram installed, and in the condition the car was in it WAS worth 112k.

[mc25t190]

kevin, i agree, an arrangement between the buyer and seller on that one.

[Charley Lillard]

There was no agreement on the Zeppher. It was a real sale to a guy that is gonna put it in his collection. All those big sales were real. Barrett is by far the big dog in town and is really pushing the No reserve . I know dealers that have been selling there and if they buy one of their cars back they are paying full amount. Take it or leave it because they are the big dog. I'm sure there was well over 100K in that Zeppher. If it was built at a Pro Builders shop there was probably over 200K. There are People spending over 1 Mil getting street rods built. The 55 Numad is one example. You would have to be there to see how crazy the market there was. We are so focused on our #'s matching stock opinions. Others have opinions that they will pay more for a really neat looking car. We have our opinions but it doesn't necessarily mean we are right. I don't think the guy that paid 112K for that Z cares what the market is or if it was real,. It matched his Yellow Jacket is the reason he gave. I spoke to the seller of the 260K Shelby with the Aluminum 427. He was like the Cat that Ate the Canary. He was on cloud nine and in shock. There were several real bidders on that car at over 200K. These People don't care if they lose money down the road on them. They have enough money that the cars could all burn tomorrow and they would move on. Craig Jackson is up there excited right there along with everybody else in the room. There are also cars that for whatever reason sold for dirt cheap. That is what brings People to auctions.

[gemleeus]

there are plenty of yellow z's out there that he could have bought for a lot less money. he bought the car because of several factors. yellow was one, jl8, had a great looking crossram setup on it (not aftermarket stuff) era dated, as he said so proudly that the car was gonna set next to his vettes, why? because of the items i just mentioned, not just because the car was yellow, so numbers or rare options did play on his reason to purchase "no matter what the price" as he stated. the zepher was glorious looking no doubt, but many good resto shops could have made it (look) that way, what was the big deal about? i'll tell you, the massive bad boy v12, i don't think they are to many of those left today. usually options or rarity will influence a large amount than over the way something looks.