Saturday, January 17, 2009
Friday, January 16, 2009
But Rat Rods are ratty looking! If you have $50k under the skin, why not top it off with a 100 coat hand rubbed paint job and really wow the world?
Give me a break! If you drive a Rat Rod, what kind of statement are you making? "Hi world, here I am, a ratty person with an ugly, fast car?" The same thing goes for Art Car owners, are you debasing yourself or just cleaning out the garage? Your girlfriend HAS to be ashamed to ride in it?
Don't misunderstand me, if you are driving a ratty looking classic just for the fun of it before you start restoration on it, I am not talking about your car!
Yeah, I know, I am going to get a lot of nasty emails because of this article! But I stand by what I wrote!
Copyright 2009 BS Brash
Thursday, January 15, 2009
WHERE IS THE MARKET HEADING?
- Mark C Bach
Even after the dust settles from the auctions currently being held in Arizona, I’m not sure many folks will know the answer to that question. That being said though here are a few thoughts to ponder.
Most cars are being bought at a car auction with a buyer’s premium. That means above the stated purchase price, the buyer must pay an extra amount. And most sellers get a commission deducted from the selling price. So auction houses make money from both the buyer and the seller. What that also means is there is always a gap (sometimes huge) between what a buyer pays for a car and what a seller receives for that same car.
So buying at an auction and then quickly selling it can be an expensive and harsh lesson.
Hagerty Insurance sponsored a Smart Collecting Seminar at the Russo and Steele Car Auction this morning, Thursday January 15, 2009 in Scottsdale. The six panelists voiced their opinions on several items that collectors can take to heart.
Has the Collector Car Market Tanked?
No. Some speculators who rushed blindly into the market may get spanked, but prices- while soft- have certainly not dropped as much as the US stock market.
“Knowledge is Power” said McKeel Hagerty and with the growth in the Internet and the sources available to knowledgeable appraisers, a prudent buyer will know more about the cars available today. They’ll know common repair issues, past history on specific cars and what prices have been going for on that marque around the world.
Collect with a Passion
For the past five years many felt that the collectors are buying cars that they had a personal connection to. So even if the market does drop, the collector can still keep the car without regrets. The car was bought to bring pleasure and that won’t change.
Many of us can remember when silly money was being spent for questionable 57 Bel Air Convertible Fuel Injected cars in the late 1990’s. If you were buying as an investment that was probably dumb. If you bought one because you always wanted a Bel Air convertible and have kept it, what’s the harm? Just as in stocks you don’t suffer a “loss” until you sell.
Photos and copy all copyrighted 2009 by Mark C Bach
Wednesday, January 14, 2009
Barrett-Jackson Day Two
- Mark C Bach
The second day of the Barrett-Jackson auction is being held today and Speed is showing five hours live (5-10 PM, locally from Arizona.). Speed cable coverage continues through Sunday with live telecasts and tape re-broadcasts. The weather was great and as the television lights came on, so did the prices.
The folks from GM are selling off some cars from their Heritage Museum. It is interesting to note that the auctioneers are repeating frequently that these cars are not warranted, nor necessarily carry the required safety or emission equipment. Instead of a bill of sale, which is common when cars don’t have a Vehicle Identification Number (VIN) like NASCAR race cars – these cars are being sold with a scrap title. Some collectors might be paying top dollar for cars that will never be able to get on the road. Speaking of NASCAR, Rick Hendrix was buying some of these GM pieces.
When GM first started to list the cars they were releasing for this auction, some bloggers criticized them for selling plain Jane pieces that could be easily be replaced in the museum at a later time. But in reality many are concept cars or one offs that don’t have a twin in existence. These cars were rightful fought over and the prices show the collectors’ interest.
Copy & Pictures Copyrighted Mark C Bach 2008
Friday, January 09, 2009
Each January the car auction companies flock to various Phoenix area sites to hold their classic car sales/auctions.
The grand daddy of them all is Barrett-Jackson’s auction held in Scottsdale and featured live and on tape on Speed with nearly 40 hours of coverage next weekend. This will be the 38th annual auction for them which they call – The World’s Greatest Collector Car Events” TM. And they probably are right! This year the auction offers a stunning black T-Bird, the first one off the factory floor. Plus Craig Jackson will assist GM in auctioning off for charity the first 2010 Camaro, outfitted as the winning bidder desires. Readers might remember that last year at Barrett Jackson, the first production Corvette ZR-1 sold for $1,000,000. GM is even feeling the pinch and will be selling some cars there from their extensive collection.
Russo Steele will be holding four days of car auctions further north in Scottsdale and ESPN cameras will tape the auction action for later broadcast. The contrast here is that only actual bidders are allowed into the auction tent and cars can be sold with a reserve. This means if the current owner wants to sell the car for at least “$x” amount, they can keep an unannounced reserve on the car and hope it fetches at least that amount.
Silver Car Auctions will be on the east edge of the metropolitan area at Fort McDowell for four days as well. Mitch Silver and his auctions helped establish Hot August Nights in Reno and is boastful that their slate of cars is more for the average buyer – meaning more reasonably priced.
Boutique auctions also occur next week with RM and Gooding in town as well for separate one day sales.
In two weeks Kruse Auctions comes into town and sweeps up the remnants, boasting of nearly 1,000 cars to auction. Sometimes I think they must be counting the car’s wheels to come up with their car counts but they still have a great selection.
The bottom line is there will be plenty of cars in Arizona for the next two weeks and lots of money passing hands. Will there be million dollar cars crossing the auction block? You can count on it.
Stay tuned for more coverage as the auctions proceed.
Copyright Mark C Bach 2009