69 Z28 RS JL8 Crossram car listed at BJ auction

[70 copo]

[ QUOTE ]
Guys I personally did not see ANY car that brought what I thought was big money. The Lamar COPO at $185K and the Hemi Cuda at $250K are prices that people like RichP here have said they were going for in the first place. To be honest.......I am quite shocked at SEVERAL of the cars being sold so cheap. Could you imagine some of the car owners pissing down their legs as the car that they brought thinking they were going to get $100K for is stuck in the $50's?

"Either the bubble is truly bursting or most of these rare cars don't need to be sold at an auction".





I agree. I think we are on the front end of a market correction period on the value of these cars. The first indication of the correction in progress was on display last year with the Ed Coneen cars. Neither sold for anywhere close to what folks would have guessed them to go for. At any rate the Z/28 decline was also predictible, as these cars are way too numerous right now to sustain these values. Expect these cars to drop a little more and then stablize in value. JMO, but the economy is coming back, and when other investiment options come up the speculators will dump these cars and the prices will drop accordingly. all you have to do is look at what happened to prices in the early to mid 90's to see this cycle at work, and it will repeat. It always does. Remember, no reserve allows the true market value of a car to be set-without the owner's reserve (to prop up prices) in the event that the market tells the owner what the car is really worth. The richest car collectors and speculators are at the auction and the prices being paid right now tell you where they think the "money" is for the future.

But I could be all wet here... There is still two more days to go...

Phil

[70 copo]

In this market - I think right now you could take a wrong drivetrain Z-28, put in a drivetrain out of a late model Corvette, (make sure it has working AC) put 22" wheels on it and I bet the market would nearly bring as much as a restored example. Modified rods are hot. The older enthusist/collector seem to want the looks of the old car but the comfort of a modern car too. With a newer drivetrain you can get both, and the big wheels bring the car up to today's trend.

Phil

[MotownMadman]

As usual, you guys got me confused again, many posts were made indicating the JL8 advertising stated "Unrestored". Okay, maybe I'm getting old, blind, better quality with certain vice's, it is too late at night, or morning, however you see it, but after reading the ad three times all I can find is the word "restored". Someone want to un-confuse me please?
Motown

[MosportGreen66]

[ QUOTE ]
As usual, you guys got me confused again, many posts were made indicating the JL8 advertising stated "Unrestored". Okay, maybe I'm getting old, blind, better quality with certain vice's, it is too late at night, or morning, however you see it, but after reading the ad three times all I can find is the word "restored". Someone want to un-confuse me please?
Motown

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Motown this should clarify.
Last year the car was advertised by Jim Stubbings as an unrestored JL8 Z-28. The car had been painted black from its original LeMans Blue but the interior and engine compartment remained untouched. After a few guys passed on the car, my father included, it sold to the man who brought it to BJ. The owner swears up and down that the documentation backing up the January JL-8 build is correct and authentic. (not taking anything away from this car!) We have out doubts though. The owner painted the car is original LeMans Blue and strapped on a Cross Ram unit as well. I personally do not think this car is unrestored at all. It also seems as if the engine compartment has been detailed to an extent too. I hope you guys were talking about this car!

-Dan