I just spent 40 hours watching the Barrett-Jackson auction, yes, the entire thing (yes, I know I'm a loser!) and even took time off of work to watch it live as I work afternoons. Now, about the auction:

- How in the hell did the "Last Stingray" sell for only $600K.

- Serial number #001 07' Shelby GT Mustang sells for $600K and you get a chance to buy serial number #002 at regular price, please, don't they remember last years farce with the first Cobra going for the same amount? Charity or no charity, that's just stupid.

- I have nothing against charities, but enough is enough already.

- Mid year Corvettes w/ 427 tri-powers going for a little over $100K, please!

- Last year the Hemi cars were going through the roof and now you've got them selling in the $100's and maybe $200's (the one sold for $600k, but still)

- Guitars, pianos and sheet music on Saturday.

- Pro Touring cars are gaining steam, thank God someone appreciates cars that aren't trailer queens.

I've heard it rumored that alot of this is staged and I'm beginning to believe it because Shelby has such a stake in this for the past 2 years and I wonder what's going to happen when he sells Cobra serial number #001. I'm thinking 7 million dollars, I wonder who's in the works to "bid" on that one.


IMO the show went down hill after Alain DeCadnet left and now its a 'NECKCAR" blowfest with all the cross promotions. Speaking of promotions, I think Ford needs to concentrate on getting some V8 power into their cars instead of just Mustangs and trucks. Start spending money on that instead of sponsoring the B-J auction with all your banners everywhere, Mark Fields being there promoting things and rerunning that Cobra commercial where its passing a Carrera GT.

 

There's a lot of people in this world that are at that show that don't really care how much they spend. The money they spend is just a number. Their $600K is like our $600 or $6K, it's pretty much fun money they'll end up gaining back later on that month or year. They want the car and will spend whatever for it.

I guess it's just that phase in what's "hot" right now, but I'm gonna laugh when that POS breaks down and you know it will.

 

I'm not too sure the cars will ever break down, seeing they'll be pushed right into someone garage and/or showplace.

 

Ah the Barrett-Jackson auctions. I have watched them for years. It is a great show and I love seeing the wide array of vehicles. The past three years though have caused me to worry.

Are Barrett-Jackson auctions (and the like) ruining the collector car hobby for the everyman?

I hate to think so, but I do wonder. Also, I hate that most of the vehicles will not be driven or have not been driven and enjoyed, at least a little.

 

The people spending big money have "museums" so they can write off part of the price as a capital investment, some might be 501K foundations where they can claim the car as a donation on their personal taxes and the foundation doesn't have to pay any tax on it.

These guys are operating at a level where retaining a sharp tax lawyer is part of the deal (and probably deductible).

The next level down are dealers who count on the constant price inflation for their profit.

Guys who want to buy their high school dream car are settling for the rebuilds.

In a few years their market is going to start dying off. That's why you see pre-war Packards, Auburns and Duesenbergs going for $100K now that went for $200K 20 years ago.