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Timing is everything - the question is - is this the time?

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Randy Harris

Randy Harris

Jedi Warrior
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Greetings friends,

I know that this topic has been visited many times in this forum. But since I have not been closely following the BCF in quite a while, there may be lots of new opinions hereabouts. Simply put, after 15+ years of happy ownership, some intense restoration, many puddles of knuckle blood on the floor, sweat and tears, I have made the tough decision to move my beautiful '66 BJ8 onto another home. For the past 11 years it has been sharing the garage and competing for weekend time with my '68 E-type OTS. For many reasons, mostly related to my chronic back problems, the Jag has won out as the go-to toy. The Healey deserves road time and not just a warm garage.

As with most things in life, timing is everything. It seems as though over the past few years Big Healeys have gone up, gone down, inched up, inched down and stayed flat, etc. At this point I haven't a clue how to put a proper price on the beast. I don't need to sell the car, so I don't have to squeeze every last dime out of it. Conversely, having taken the car to a high level over the years with considerable investment along the way, I won't give it away either. So the question(s) I put to you my fellow Healey nuts is:

1. How does one determine the best time to market the car for maximum exposure? Is this time the wrong time?
2. I hate auctions as I think they're not a good predictor of values. Have others had good results at auction?
3. I'm not crazy about Craigs List or eBay. Yet it seems many people go that route. Am I being a stubborn old fart or ....?
4 In your collective opinion, is this a good time to sell a really nice BJ8? I mean, I don't have pressure to sell it if this isn't a good time.
5. Like most of you, I have a to-do punch list of those little things I've always wanted to get to on the car, but haven't gotten around to. I figure that if I did every one of them to make the car nearly perfect it would cost upwards of a grand in mechanics fees. I can't do them myself anymore. Would you spend the money to bring the car to that rarified level or let the next guy dive in for the final touches?
6 Finally, if you had a solid 2+ BJ8 to sell would you personally go auction, internet, club newsletter, combination of all, word of mouth, other?

Thanks for all of your collective wisdom guys. I look forward to hearing your opinions. Basil, I hope I have not violated any rules here with this post. This is not a solicitation to sell!

All the best,

Randy
 
Just one question on your #2 regarding "value". What is you definition of value? Aesthetic? Emotional? Some other? If you're discussing selling a car then the primary issue of value would be monetary, wouldn't it? So at an auction, which brings together people who buy and sell cars (albeit, not exactly a cross-section of the general population of people who own cars), why wouldn't the auction result be the value of a particular car? I can't think of a better venue, providing the proper auction company and site (not Mecum in Branson, MO for instance) is selected. Take a look at the recent auction results of Healeys like yours and evaluate the results objectively. One thing I never understood is how people say that (proper) auction results are not indicative of what a car is worth. That's just ignoring the facts. Is a $1M auction sale too much money for a particular car? Says who? Obviously, two people (at least) at an auction though it was worth about that much otherwise it wouldn't have sold!

Oh, and a good auction company will help you set an estimate on the car. They want you to get as much as the car is worth by setting the proper estimate for their catalog. Too high a one does scare away bidders and too low a one may be an indication of some flaws. For different reasons of course they basically have the same goal as you.
 
With a good higher value car I would suggest an auction as well. Craigslist and ebay are good for project and decent drivers. You'll do better at the Auction, better price and car will probably go to a good home as well.
 
I guess my auction bias is against the auction houses like BJ that set record AH prices because a couple of guys with too much money and booze bid on celebrity-restorer cars that want to get their faces on TV. Those are the auction results that everyone gets all excited about, but I don't think they are reflective of true values. Mecum is another one like that. I tend to follow the Hagerty values guide which i think shows, at the moment, values a bit depressed for BJ8s.
 
My definitions of value, in regards to this thread, is the car's worth on the resale market - relative to other '66 BJ8s in the same condition.
I cannot place a value on the time, emotion or aesthetics of the car - too difficult to quantify.

I understand when I hear people say auctions don't reflect true value always. Yes a car is worth what someone will pay. But the sheer variance in prices paid can be reflective of things as simple as time of day, the weather, who is in the bidder's box at that moment, how many other AH are being sold that day, the energy of the guy with the gavel, reserve vs no-reserve auction, etc. So many variables to consider with an auction.
 
I share your hesitation about auctions. I really wonder by the time you pay all the fees and shipping that go along with getting the car there whether it makes sense for a car that's not really high end or rare. CL seems to be home of the scammer, Last CL ad I posted I received a lot of interest from guys who were working on off-shore oil rigs that were willing to pay the asking price for the "item" I had listed. Ebay auctions would concern me a bit, too. I think if I were going to sell a nice Healey, I'd look for national exposure. People don't seem to mind traveling for the right car. Ebay has a program where you can list an asking price (much like a regular used car ad where you are not tied into an auction). I'm sure that you'd get a lot of exposure that way. Hemmings is a good option and has an online presence. The club magazines will be useful as well. I really don't know the secret to determining an asking price. Perhaps looking at the completed auctions of eBay might help or the Sports Car Market guides.
 
Randy Harris said:
Yes a car is worth what someone will pay. .
Click to expand...

Has there ever been a less helpful statement to someone who is trying to determine the buying or selling price of an item?? If I list my $60k Healey for $20k, I'm sure there would be lots of buyers willing to pay the $20k, but that doesn't mean my Healey isn't "worth" $60k.
 
Ads in the national magazines? Bring it to the Rendezvous in June at Tahoe and put a for sale sign on it. When people see 200 plus beautiful Healeys they salivate. It probably would be the only one for sale there. The show is at the Heavenly Village right along Interstate 50 so there will be a lot of exposure.
TH
 
Great idea! I forgot about the big event in Tahoe this year. Excellent. Thanks!
 
Randy-

How about this as a starter? Sports Car Market 2013 edition of their price guide gives a $40K to $75K range in sellin gprices with a 12% decrease for the year. This is for a #2 condition car. This sounds about right although I'm not a BJ8 expert. I have a BN2 with a Le Mans kit and they quote a value of $40-$75K also. I would have said that was correct as well although there have been several $100K+ sales lately but it wasn't clear to me whether there were factory M's or dealer converts like mine. Not too far off either way.

I've been reading SCM for about 10 years and I think the evaluations are mostly correct reflections of the auction activities.
 
Thanks Bill. Yes, this estimate sounds about right. I have mine pegged in the middle at $65k. It's insured for a bit more but that number seems about right.
Randy
 
Hey Randy,
Know you'll get a lot of good advice from the BCF gang. I think Tahoe Healey's idea of taking it to the AH event is great, particularly if within driving distance to you. If your car is a nice #2 car, would show well and might have some Healey ready buyers. Check the recent results at Scottsdale for RM and Gooding and see what any BJ8's sold for if some were going over the block at those two auction companies. I think they are the best and if they have a car up for auction it is usually a # 1 or #2 car. Both have auctions coming up at Amelia Island in less than a month, maybe see if any Healey's up for sale. I have had good success selling Healey's and other LBC's on ebay but they were usually nice driver quality cars. Did sell one extremely nice # 2 or maybe better BN6 and got top dollar for it using ebay. So nice cars can bring good money on ebay, but also usually a lot of BJ8's for sale. The club mags are great and free to advertise if you are a member but not much exposure outside of us Healey nuts. I agree about Craig's List, I wouldn't touch that with a ten foot pole. Bottom line, if you are not in a hurry, you can try several different ways to market your Healey.
Good luck,
Mike
 
Yeah, I'm in the Bay Area. Have taken it to Tahoe for the GGAHC-sponsored Conclave 8 or 10 years ago. Doesn't like the thin air in Tahoe, but it's a wonderful drive.

The car has always shown well, but I rarely do shows anymore. I'd say she's still a strong #2 car. Probably one of the top non-Concours BJ8s in Northern California, at least that's what I've been told. I think taking to it Tahoe is a grand idea!

Randy
 
The Barret-Jackson action is coming to Reno combining with Hot August Nights for the first time this summer.
Lean each carb 1/8 to 1/4 turn (counter clockwise) for the altitude (6250 ft) if you have a problem. Most don't need to.
TH
 
Hello Randy,
I can really relate to the back problems, I have severe spinal stenosis and my L4 L5 disk are degenerated and pressing on my spinal cord. I spent 3 years in a wheel chair, However refused to sell my 67 Bj8, It was the only thing keeping me going with the hope I would drive it again someday. In fact, one day I decided to slide down off my wheelchair and begin doing a complete brake job and rebuild all brakes on my Healey just dragging myself around the car, It took forever with my body being partly paralyzed but over time I was able to rebuild the whole brake system. If I where you, I would hang on to your Healey and just install a more comfortable supportive drivers seat in your Healey and enjoy the fruits of all your labor....I for one have regretted selling some of my past restorations and looking back now wishing I never had sold them! If you really don't need the money, why not just hang onto it! After all its not eating anything! Except a few bucks for insurance, But that's not much! Take Care, Michael IL.
 
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