Quote:
Originally Posted by Vette73
What year ZR1 sold for 22,000 at Barrett Jackson? Did they say how many miles? Stick or modded? Color?
I tuned in a little over the weekend and if I saw one more Porshe pass the block I was going to switch to the smithsonian channel...I'm like ee nuff already....
Listen 22K is a lot better than that white 91 selling for 12.5k at Mecum weeks ago ...
Another thing, if the car wasn't originally priced at 60-70 K we would not be having these discussions about value ....
From what I hear some used C7s I think can be had for the high 40s now....
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It was a 1990 Bright Red, 24,300 miles.
Quote:
Originally Posted by Fully Vetted
You need to add in the bidders fee at the auction. Having bought at Mecums before I promise you the bidder was. Also, you're assuming PP sales would be less than the auction because of th auction hype. You can't do that. Especially at BJ because it's a no reserve auction. If that car happens to go thru at a bad time it's going to sell no matter what. You can't then say well that must be what the market is. You've got to figure in known PP sales. I have a buddy who has a classic car dealership and he has sold 2 Z's in the last couple of months. One went for $34k and the other almost $40k. And he has another one on his showroom floor that will probably sell for over $40k based on his other sales. You're putting too much focus on what happens at BJ. While it is a contributing factor the auction can create a deflated price the same as it can an inflated one.
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Buyers premium at Barrett Jackson is 10%. Buyers premium at Mecum is only 6%. (for bidders that are present) So that really doesn't account for much at the amounts we're talking about. 750.00 in the case of the white car at Mecum. There are plenty of reserve cars at Barrett Jackson (although admittedly not all cars can be reserve cars). And as far as the ZR1 I was talking about, it was prime time bidding. The place was packed, floor to ceiling. Highest attendance they have ever seen.
However the cars sold at auction are just a small portion of what I'm looking at. Look at the low mileage cars on eBay right now. How is your buddy selling them for 30-40k when a car on eBay with 11,400 miles just had the buy it now lowered from 26k to 25k? When it was up as an auction it got to a whopping 10,900 dollars. What about the 14,400 mile car that only made it to 18,800 and didn't sell the other day? What about the 3200 mile car that is on there now for a buy it now of 32k? Your buddy deserves salesman of the year.