Barrett-Jackson..back to reality?

[HEALEYJAG]

Been watching the auction..seems the market has subdued considerably...

1961 Austin Healey MK 1 $21,000 less 8% commision or did they bump it to 10%....

Also nice Morgan go through for $16,000


Pete

 

[MadRiver]

What condition was the car in?

 

[HEALEYJAG]

You can see the pictures and description on the Barrett-Jackson website..

 

[MadRiver]

Alas, I had some trouble getting htem to load. Probably the server at my office. Maybe the IT folks have discovered how much time I spend on the web. Grrr! /bcforum/images/%%GRAEMLIN_URL%%/smile.gif

 

[carlivar]

I've suspected the economy problems would extend to classic car prices. It may be finally starting.

 

[Randy Harris]

Yes, I agree. It seems inevitable that there will be a correction in the collector car world. The "phantom wealth affect" of never-ending increasing home values has created this fantasy that one's home is an always-full personal ATM machine.

I'm sure that tens of thousands of old cars have been purchased and restored using the private house piggy bank. By year's end I predict bargains to be had for those willing to jump in.

Now even the well to do are having problems freeing up cash. There is a new mentality that has settled in (especially among the monied folks) which dictates preservation of capital over consumption. Not a bad philosophy in my opinion. '08 is going to be one very tough year!

Randy
'66 BJ8, '68 E-Type

 

[nevets]

With the stock market slumping, real estate values in decline, and inflation threatening, it’s interesting to note that the art market (collectables) has picked up. Perhaps, stuff of value, like cool Austin Healeys, will be a better place to put your money...and if bargains can be had, so much the better.

 

[Editor_Reid]

With the stock market slumping, real estate values in decline, and inflation threatening, it’s interesting to note that the art market (collectables) has picked up. Perhaps, stuff of value, like cool Austin Healeys, will be a better place to put your money...and if bargains can be had, so much the better.

I'm not an economist, but like many others, I play one here... /bcforum/images/%%GRAEMLIN_URL%%/jester.gif

However, I think that most real economists agree that collectibles are usually one of the very first things to suffer in a recession, since they are frivolous, unnecessary expenditures.

And a long-coming correction in inflated collector car prices does not signal an overall turn down in the economy. Collector car prices fell off a cliff in 1989-90 because they, alone, were wildly inflated. The rest of the economy did not reflect any such free fall.

However, as my grad school econ prof said, "If you predict a recession long enough, sooner or later you'll be right and look like a genius!" /bcforum/images/%%GRAEMLIN_URL%%/laugh.gif

 

[bighly]

The following is from the Barret Jackson Web site. Lot 949 I believe was the Aston green Tanner car.

LotNumber Year CarMake CarModel CarStyle FinalPrice


337 1961 AUSTIN-HEALEY 3000 MARK I CONVERTIBLE 21000.00
699 1959 AUSTIN-HEALEY 100-6 CONVERTIBLE 39000.00
931.1 1966 AUSTIN-HEALEY 3000 BJ8 2 DOOR CONVERTIBLE 55000.00
949 1960 AUSTIN-HEALEY 3000 BT7 ROADSTER 65000.00
970 1960 AUSTIN-HEALEY 3000 BN7 ROADSTER 57000.00

 

[carlivar]

Yes "collectibles" have been viewed as inflation hedges for a long time. I think this is fairly consistent. I think the bad economy will take precedence over this temporarily, though the smart money will probably be watching for good values.

It's certainly preferable to pieces of paper (fiat currency).

What's worrisome is the weak dollar makes American items very cheap for foreigners, whether it's classic cars or real estate or what.

 

[stevebn2bj7]

Well I wish some of those foreigners would buy some of the real estate I have for sale.

The Healey Lane BJ8 just went for $105,000 nplus commission. Does not look like ther is any major correction for the exceptional, newly restored cars.

I have sold a lot of parts recently and most of the expensive parts are going to Europe. They can afford to spend more. /bcforum/images/%%GRAEMLIN_URL%%/cheers.gif

 

[AUSMHLY]

If you read the promotion tag on Barrett-Jacksons site about this car, #986, it says:

Complete, nut and bolt, rotisserie concours restoration with no expense spared.

If you click on the photo showing the interior, did you notice where the fuel gauge is?

https://www.barrett-jackson.com/application/search/carlist_Details.aspx?&In_LotNumber=986

 

[GregW]

OMG I see what you mean... It's on empty! How cheap is that. Took me a while to find the gauge though, since the knucklehead put it in the wrong hole. (I hate when that happens) /bcforum/images/%%GRAEMLIN_URL%%/jester.gif

 

[Cutlass]

Is that the way carpet is supposed to fit?

 

[AUSMHLY]

I noticed a lot of things that a concours judge may find fault with.

Exhaust system was not painted black.
Dash and top ledge on the doors should be black.
Fuel gauge is where the oil/water should be.
Stainless chrome wheels.
The engine has chrome nuts in assorted places.
The short breather hose is not painted green.
Missing a long hose to the break booster?

The carpet on the trans tunnel does get snapped in place. It just seems the fit needs some attention.

I think this car shows very well.

I have dressed my car with some of the same touches. Dash and top of doors are blue, not black. Polished valve cover, chrome nuts, chrome wheels, etc.
But I do not list my car as concours.

Concours seems to be used a lot at Barrett-Jackson. I would think that someone would monitor the use of that word more closely.

 

[healyfan53]

Probably Kurt was aiming for 80K .

Just a bad day.


This nice car should go for more, the money that he had is not very good for a complete Kurt nuts and bolts resto .A lot of work and money in it .

If it was not a gold the car will sell for 45K maybe... ....

the trend is for bargain these days it time to buy

Cheers

 

[RobertM]

On the latest result a Healey sold for in excess of $105,000.
Reid: Where is your blog on the B-J auctions? I have looked everywhere.
Bob M

 

[zblu]

Did it go out of USA?

 

[Dave Russell]

Reid: Where is your blog on the B-J auctions? I have looked everywhere.
Bob M

Not Reid, but it's here:
https://www.marquematters.blogs.com/
D

 

[HEALEYJAG]

No blog on this this years auction....SPORTS CAR MARKET will have a great story I'm sure. If you have never read this mag I recommend it highly.