| 11 months ago :: Jan 23, 2009 - 1:55PM #1 | |
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Well, I have waited for someone else to broach the subject, but what do we all think of the Barrett-Jackson auction? I know many old car fans are watching and in my area Barrett-Jackson is far more famous to the casual viewer than the Hershey Swap Meet, which I guess says something about the state of the hobby today and the marketing of the auction. But I digress......... Can anyone who saw tell us why a 1916 GMC truck and trailer were worth over $100,000? Or a 1951 military Jeep? Or a green 1956 Thunderbird with (apparently) no special engine or heritage? All were very nice vehicles, of course, but $100,000K for a truck that cannot exceed 20mph or an olive drab Jeep? Or double the money for a green TBird? Any thoughts?
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| 10 months ago :: Feb 07, 2009 - 9:26AM #2 | |
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Todd, The Barrett-Jackson is a real circus, food plates, drinks and a buy attitude. I used to confer with Barrett's one son before he passed away, he was a true car guy with passion. Russo and Steele also makes for a good show, I have known Drew for quite a few years, back to the day when he had Concourse Restoration's in California, he is a good quality car guy that runs a good auction. The one Bird that broke the bank was the first Bird ever built, many of the cars are of good quality and others are just so-so in their quality. We were supposed to have a concourse restored car there this year belonging to John Cooper in Mi,, had one there in 08's auction, glad we did not make it for the 09 auction. One of my other buddies that restored Carroll Shelby's 69 Shelby was there in 08 but not in 09 either. The market is settling down again, many of the cars have suffered in price drop. Some of the big boy collector's "want what they want" and Money is no object, as you witnessed at the 09 sale and in past years. Another one of my friends in Scottsdale that is a licensed appraiser and writer, jokingly calls it the ABC syndrome; Aging Billionaire Collectors>>>>> Do remember though, some of the restoration costs of some of the cars and trucks can cost 30K to 150K, so with this said, there is an ass for every seat and a seat for every ass. There is no rhyme or rhythm to what these guys want or what they will pay. Let the parade and show go on and lets just watch with amazement!!!!!!!!!!!!!!!!! The ABC guys can have Rembrandt Paintings, gold Bullion, major cash and so on, can't really show that off: BUT, ohhhhh the feeling to drive, display in their museums and receive Invitations to major prominent events is priceless!!!! John
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| 10 months ago :: Feb 10, 2009 - 2:25PM #3 | |
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Hello John, thanks for the response, I still can't believe no one else had anything to say on this. I smiled at your Aging Billionaire Collector reference, that certainly seems accurate. I always wonder why I never meet these free spending types when I am trying to sell something....... To their credit, I will be the first to admit the Barrett-Jackson people are marketing geniuses. They took their auction and in the public mind have taken old cars from muddy swap meets and junkyards to bright lights, bling and trophy wives. Of course there have always been moneyed collectors; if you have been involved for 35 years you know this better than I; but would you agree the image and mindset are different now, more about money than cars? Or is it really not that much different and I am just overly sensitive?
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| 10 months ago :: Feb 10, 2009 - 8:26PM #4 | |
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Todd, Good to hear back buddy, yeah, I was thinking a few more of the guys would respond too. You posted good questions and points about the auctions. I do agree that, in part, it has turned to big money rather than the cars. You must realize that many are collecting our past to display how far we have come>> kind of funny writting this right now as the US is near collapse>> Our past Automobile History will never be relived again., just as famous paintings. Each collector has their own taste in what they consider their prize, somedays, at auctions, several live bidders and several phone line bidders will go at it for what they want. Soooooo, away we go for the ABC guys. One Valid point on behalf of the whole game, most of these collectors have Museums and/or are building ones for future generations to enjoy.. A gentleman in Texas has over 900 collector cars, some worth Hundreds of thousands each" plus much more !!!! Yes, he is erecting a Museum. It is sad though that many car guys, myseld inc, have lost the chance to buy what they might want but yet had opportunities along the years. With this said, hell, I am going out to buy one of the mega gazzillion dollar Lottery tickets, SEE YOU ALL AT THE AUCTION , I will be the one grinning from ear to ear if I win !!!!! John
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| 10 months ago :: Feb 11, 2009 - 12:59PM #5 | |
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Well, I certainly do support the idea of the museums and cars on display. Actually, that is a welcome throwback to the early days when pioneer collectors like Bill Harrah and Henry Austin Clark and many regional collectors were around and put their collections on display, big and small. More power to them on that, especially if they can continue making their cars available for viewing knowing that their admission fees will not make this extremely lucrative or anything. I would love to have more such museums available in my travels. |
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| 10 months ago :: Feb 20, 2009 - 12:32PM #6 | |
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I too am a big fan of the notion of the ABC crowd using their wealth and influence to preserve these rolling works of art. However, as the guys with the '57 Heaven museum out in Branson discovered, finding the money to purchase the cars is only half the battle. Keeping the museum doors open to a public that is often apathetic or simply too tight in the wallet to fork out a few bucks to see the cars can rapidly become the major challenge. I totally agree that the folks at Barett-Jackson should be highly commended for the promotion and marketing that they do out in AZ. While I have yet to make it out to their auction extravaganza, it is in itself a amazing work of performance art. Now if we can only figure out a way to get the younger folks as excited about preserving and collecting classic cars... |
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| 10 months ago :: Feb 20, 2009 - 4:18PM #7 | |
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That's right Otis, and maybe that can become a follow up question for me. Barrett-Jackson surprised me by proclaiming themselves the "World's Greatest Collector Car Event", which I think is open to opinion. I have already observed that in the midwest Barrett-Jackson is now far more famous than Hershey, which has always been the ground zero of the old car hobby in my (outdated?) mind. Now when I became a driving age teenager the idea of buying a restored car was out of the question for me. But the idea of buying a $1000 car to restore was possible, and I was motivated by the idea of learning to do the work and see the gleaming car emerge from the rust. Even then veteran collectors said it was probably cheaper to just buy one, but I had to work with what I had. Plus, going to Hershey and other meets looking for parts, studying restored cars at the show, and buying books, manuals, and catalogs to read and study were all part of the experience and education. So here is the question. If a teenager today likes old cars and watches Barrett-Jackson, with the ABC types and their money, is he motivated to take the next step into the hobby? Does he consider learning to work on cars? Or does he see the lights and suits, the old guys with egos and money and think "why do I want to get involved with them? I am not old, nor rich, I cannot outbid them so I must not be able to participate. I will watch the money for a while then go back to another channel." As a kid, before I got into old cars, I built plastic model car kits. As an adult I notice that they have become uncommon compared to just buying a finished die cast car with no assembly required. Nothing is gained in learning the parts of a car, or skills of painting or assembly, no craftsmanship or (especially) patience. Just find the one you like and if you have enough money you can take it home and look at it and dust it until you are bored with it. I wonder if there is a parallel here? Readers? |
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