BaT Bugeye Sells for $27.5k

[HealeyRick]

A very nice Bugeye with all the right pieces featured on Bring a Trailer sold for $27,500: https://bringatrailer.com/2014/01/10/seller-submission-1960-austin-healey-bugeye-sprite/ OTOH, the seller said he had $32,000 in it and I believe it. I found the BaT comments somewhat distressing with a lot indicating it just isn't worth the price. When I see some of the other junk (Porsche project cars and poop brown 911s, I'm looking at you) that show up on BaT for astronomical prices, I don't get why the little Bugeye doesn't get more respect. Glad the seller got his asking price.

 

[Boink]

Wow! It topped out (not meeting reserve) on eBay at $16,300. I also saw it on Craigslist (given it was sort of local to me); on CL it was listed at $27.5K!

 

[bgbassplyr]

Asking price $27,500.00

$16,300.00 last price bid when car withdrawn.

 

[HealeyRick]

In the BaT listing, the seller says he got his asking price.

 

[59diamond]

I only see The asking price of $27,500 on BAt not that it was sold.
If you want to see a nice reasonably priced BE look in the spridget classifieds at my Cherry RED Bugeye

 

[HealeyRick]

I only see The asking price of $27,500 on BAt not that it was sold.

See the seller's comment below:


Chris
January 11, 2014 at 6:46 pm

2 or Flag as not constructive

Happy to report that it sold tonight for the ask to a gentleman in Texas who has wanted once since he was in junior high in the 50′s. Thanks to those who posted positive comments. Still trying to understand the motivation of those who didn’t.

 

[drooartz]

It's interesting how the comments on car price (not just on this particular car) are generally pretty consistent. Either: "wow, that's really expensive. I remember when you could buy X car for $500" or "for $X I'd rather buy this other car."

I'm glad the seller got what he was asking, bodes well if I ever try and sell my current Bugeye once the work is all done. Lordy knows I'll have a serious amount invested in it when its done. :grin:

50s and 60s cars are getting more expensive for a bunch of reasons, the days when these were just cheap used cars are long gone. I don't think this sale sets any sort of precedence for Bugeye prices, but it does indicate that at least one person thought the car was worth the asking price. Certainly, it would be hard to recreate that car (assuming you were paying someone else to do the work) for the selling price.

 

[Gerard]

See the seller's comment below:


Chris
January 11, 2014 at 6:46 pm

2 or Flag as not constructive

Happy to report that it sold tonight for the ask to a gentleman in Texas who has wanted once since he was in junior high in the 50′s. Thanks to those who posted positive comments. Still trying to understand the motivation of those who didn’t.

Chris is one of my customers and I was involved to a great extent with the development of this build. Chris had some really bad experience with the first guy that was supposed to build this car but did nothing for over a year but hold onto his money. I referred him to Eric Jones in Eugene (I believe someone here suggested him to me), and things went well after that. Eric works on a lot of exotic cars and has a good reputation. I had a couple communications with the shop, and I know things were well executed. Chris bought a lot of the components from me and also APT. This was largely a checkbook build over the last year and a half, so the figure he quotes doesn't surprise me, but I was surprised when he told me last week that he was selling it. Everything I know about it indicates all the work was well executed and that it's beauty is not just skin deep. He wasn't trying to keep it original, but how many of us really do?. Some of the BaT comments are just stupid, but that's to be expected.

I agree with Rick. Some cars you see that bring stupid money, even in a trashed condition, always befuddle me.

 

[nomad]

For some time I have gotten a kick out of "Barn Find" cars. Seems as if the phrase seems to make the buyers a little crazy. The more dirt left on them the better!

Kurt.

 

[smaceng]

Thought I would pass along my experience in selling my BE....Bought this 1960 car 5 years ago as a painted tub which had been stripped to bare metal...Built it up as they say with no expense spared....did all the work myself (mechanical engineer) except the short block.....added bling that I wanted.....nice steering wheel, red tonneau cover, fuses and relays, electronic ignition and regulator, 5-speed, 1275, nice wheels, etc. Many awards at local shows. My build blog was 90 pages long. As I told my buyer, I like to build and restore, rather than drive, especially a show car (how can I leave it anywhere?). I am on to my next projects....a 24 hour Lemons car (84 Rabbit), and a junker TR6....thanks to all on the site for the help and much fun to you all...... I did not return my investment, but that was NEVER the idea....more than happy with the result.
Cheers,

Scott in CA

 

[59diamond]

I am happy with the result also. It is interesting how people arrive at "WHAT THEY HAVE IN IT"
I have all of the original receipts for the original restore of my Cherry Red Bugeye which total about $21K. Not included in those receipts is the original car purchase which looking at the photos of the car before restoration must have been say $4K. So that is about $25K. The interesting thing is I have no receipts from the person who restored the car for his labor cost. So if I assume just $10K for labor then there was $35K IN IT when I bought it.

So if the seller of the $27.5 car says he has $32K in it it is easy to see how you could arrive at that number if labor is included.

If I add what I have put into my Cherry Red BE since I purchased it I can add another $5K making what is IN IT is about $40K

 

[Rut]

Scott,
Thanks for letting us know your experiences, very helpful! Your Bugeye was one of the cars that I looked to for quality work and tasteful mods and your advice regarding wiring and relays was most helpful. I'm glad you got your asking price and I hope its a trend that continues for quality Bugeyes.
Rut

 

[drooartz]

That's why I never add up what I spend on these little cars. :grin: When my Bugeye is done I figure it'll be worth about 50 cents on the dollar in resale value if I'm lucky. Not an issue for me, really, as I've no intention of selling this one any time soon.

Scott, good to hear you're happy with your sale. That's a great Bugeye you put together, someone out there is a happy new owner. 59diamond, good luck with your sale, looks like a good car.

 

[nomad]

Course for us guys that do all of our own work, the labor cost is chalked up to " recreation ". As a good friend tells me, my spridgets are the most environmentally friendly cars I could own because I'm always working on them and never driving them!:highly_amused: Don't hope to get 30K out of any and I'm sure I won't be disappointed!

Kurt.