COPO prices down at Mecum???

[Charley Lillard]

My opinion is the market is better right now. Before there was a frenzy with prices jumping 20% each time a car changed hands. Now it seems to have leveled off with the iffy edgy cars not bringing good money like they were . The top cars still seem to bring top money.

[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.......

[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???

[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?

[70 copo]

IMO...Pontiac muscle is good at auction primarily due to the factory documentation provided for the cars by GM. People know what they are buying. I agree for documented cars current market is still good and strong.

[bruno17]

Just got back from a three day Mecum extravaganza.Green 69 camaro copo auto ran too late in the day on saturday and stalled at 120000. Owner was fit to be tied! Had a 175000 reserve.
Hemi superbird with low miles sold for 400000.00!!!!!!!!!
69 ram iv judge was a no sale at 120000.69 trans am in driver cond. sold for 95000.I was there trying to buy a mid year vette for a friend and thought they were strong.Some of the documentation looked very suspicious! Too many cars available in one weekend....low 50% rate of sale on friday and saturday.Too many copo's,midyearBB a/c auto cars and too many 69 camaro's to choose from.Mustangs seemed very reasonable.....resto cost was more than the sale price on many.Good cars were not cheap.Actually,they were strong in a fall market with lots of availability.Nickey camaro was sooooo cool!!!!! sold at 150000? Did any hemi cudas get put together?

[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.

[SS427]

I sure hope not as it is tough to make it now. It always kills me when we (restorers) get beat up for our shop rates which in most cases are at least half what it costs to bring your car into a dealership to have a repair made. While that car is at the dealership it depreciated while at the same time a restored car actually appreciates while in the shop. Most dealer mechanics make (personally) as much or close to what restoration shops charge as a shop rate. I won't complain as I have been doing it for over 25 years and it hasn't changed but I does frustrate me on occassion.
Rick