Barett Jackson Car Auction-lower Prices This Year?

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Dont know where this thread belongs but it is bubble mania/economy related.
IM pretty sure prices will drop quite a bit from last years prices on these collector cars.Given the state of the economy i cant see how prices there wont be affected.The last couple of years prices have gone ridiculous-another mania bubble.Such as 200k+ for 1957-67 vettes...500k for 69 gto's,250k+ for 68 shelbygt500,1 mil for ls6 chevelle conv....and all hemi cudas going for 300k-2mil...and the fake replica conversion cars that duplicate originals go for 100k +.....that is a real sign of mania,when the knockoffs start selling for nutty prices....you can watch the auction all thru sunday on speed channel.
 
do you think the people who are rich enough to buy these ridiculous cars for ridiculous prices are actually affected enough by an economic slowdown to the point where they'll stop collecting them? If anything, they're profiting from it and getting richer.
 
As an avid car collector who owns 3 pristine, all original, fully documented Muscle cars (69 Yenko/69 SS 396/440-6pac 70 Cuda) I'll chime in here.

Your right, but misleading as well. Not going to argue the state of the economy BUT the truth is this market broke at least a year ago. Look at the BJ prices from 05,06 and then 07 and you'll see what I mean.

Whats happened in this market is that every car started being valued like a great car. What happened last year at BJ was simply that regular old muscle cars (which is about 95% of the mkt) got crushed. The truely great cars actually increased in most cases.

However, the comparison between the collector car mkt and the stock mkt does yield some similarities and insights. Car prices went up because people started speculating on even higher prices. The problem was, most of those speculators didn't know shit about cars. Not about what seperated a true investment grade one from an ordinary run of the mill car anyway. Reminds me of real estate too for that matter. On the other hand, I have 2 guys who each call me about every other month trying to buy my Yenko for 200K+. It ain't for sale though.LOL!

Anyhow, don't mean to carry on but muscle cars are my passion so I thought I'd paint an accurate picture of that mkt since it came up.

Oh, btw, the truth is very, very, very few of the really super cars go through BJ. You dont need BJ if you got the goods. Like I said, people are calling me and the cars aren't even listed for sale anyplace---because there not for sale:)
 
I think it will be lower this year for the crap custom non original cars. Only the serious knowledgeable buyers will spend on the originals. Will be interesting to see what goes this year for big money, likely the mid 60's muscle cars again. I don't think the 50's and older cars will do as well since some of these are getting auctioned off in smaller auctions in the area. I don't expect they will set any records this year at BJ.
 
Nice read. Thank's for sharing!
Quote from Deadwood:

As an avid car collector who owns 3 pristine, all original, fully documented Muscle cars (69 Yenko/69 SS 396/440-6pac 70 Cuda) I'll chime in here.

Your right, but misleading as well. Not going to argue the state of the economy BUT the truth is this market broke at least a year ago. Look at the BJ prices from 05,06 and then 07 and you'll see what I mean.

Whats happened in this market is that every car started being valued like a great car. What happened last year at BJ was simply that regular old muscle cars (which is about 95% of the mkt) got crushed. The truely great cars actually increased in most cases.

However, the comparison between the collector car mkt and the stock mkt does yield some similarities and insights. Car prices went up because people started speculating on even higher prices. The problem was, most of those speculators didn't know shit about cars. Not about what seperated a true investment grade one from an ordinary run of the mill car anyway. Reminds me of real estate too for that matter. On the other hand, I have 2 guys who each call me about every other month trying to buy my Yenko for 200K+. It ain't for sale though.LOL!

Anyhow, don't mean to carry on but muscle cars are my passion so I thought I'd paint an accurate picture of that mkt since it came up.

Oh, btw, the truth is very, very, very few of the really super cars go through BJ. You dont need BJ if you got the goods. Like I said, people are calling me and the cars aren't even listed for sale anyplace---because there not for sale:)
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i know bj is considered by many collectors as a bit of a joke for showoffs who like to show off wasting money(like that allen whatshisname on 50s prototypes or the guy who paid 5 mil for that futurama bus)...however i look in hemmings motor news and people are selling clones for crazy prices also...I even saw a 69 gto conv for 400k in auto trader...the frenzy now looks and sounds a lot like the re mania...also 65-66 fastback mustangs with new paint/tires are 25-40k!
I love musclecars also but i seem to remember during the90s there was a big crash in prices...ie hemi cudas crashed from 100 back down to 50k....also in 1998 at bj a 67 gt350 went for 17k and now commands10-15x that on bj.
 
where i live in los angeles there are many nice muscle cars...ive seen a real vintage racer 65 gt350R driving around santa monica airport-it and the 65 cobra are baddest sounding cars ive ever heard...btw,deadwood you have some killer rides there!1 of my neighbors friends had a 70hemi cuda.I see a lot of lambo's and f360's around here but i think i rather 60s muscle.
 
Carroll Shelby's '69 GT 500 which he is the original and only owner will be offered for sale Jan 19th. Will be interesting to see what that goes for. From what I understand, it is not concours correct but Carroll himself made a few minor mods so we shall see.

I cringe to think what I almost sold my car for when times were tougher and now that its worth 10 times more I can't imagine parting with it. Funny how that works. :)
 
Car culture is fading.

People who buy this cars are too rich to be much affected by a slight economic slowdown, as some have said.
 
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