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Bunch of rich people bidding too much on Chebbies

1971 plymouth roadrunner

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[h=1]Thousands travel to Nebraska for Lambrecht Chevy auction[/h]Wow I'm surprised that nobody has commented about the really whacked out "barn find" auction on History Channel last night. People were bidding on a bunch, of non running cars in a field. I know being a car guy, that a car may be interesting with low miles, but if the engine is frozen "like with most", than it negates the low odometer. When I saw, those guys bidding $140K for a cameo pick up, I was captivated by the TV announcers had nothing, but nice things to say about it. The more I saw "which wasn't that much, because the announcers were cutting away from the auction most of the time", the more I wondered why someone would bid for a car, simply because it was never driven, and especially a common Chevy. Maybe it's just me, but it was over hyped and some of the cars didn't look structurally sound. Some of the guys bidding were locals, who were buying back their first cars, but I kept hearing "Ya, I'm gonna keep it for a while, then sell it". Some of the highlights that struck me the most was the Vega, or the SS with a crushed roof, the corvair with 75,000 miles, and finally the S10s that were selling for anywhere from 2,000-50,000??? Lastly I'm not bashing what they were doing, I'm just a little curious about why they would bid that much, all I can say is that I'm glad for the family cause they just made like $4,000,000 in one day. What are your thoughts on this whole thing, cause I'm kinda confused
 
I watched a little of the auction and I agree that the prices seemed out of whack to me. I guess their thinking "it's a brand new car that's never been driven/licensed". To me if a car has been sitting in a field out in Nebraska for the past 50 years it's not new anymore and probably needs a complete resto. You can find lots of Chevys running around that are in much better condition that are unrestored survivors that have been kept inside and well cared for. I really didn't get some of the $ they were bidding for the 4 door cars.
 
I also watched and had the same reaction. The only thing I can come up with is that Die hard Chevy lovers are just plain wacko :sign5:.
 
I don't get it either,almost seemed fake. Who in there right mind would bid that kind of coin. One that comes to mind is that 48ish military suburban for 14 K,i would of had a tough time paying 1k for it.Some of those 60s chevy pickups went for unbelievable prices.
 
I will sleep good tonight knowing I didn't pay $80,000 for a truck maybe worth half to a quarter of what they paid. I wonder how many will show up at Barrett Jackson?

The very next lot was the 1958 Chevrolet Apache 31 Series truck, and the bidding quickly rose past $50,000. This truck had a mere 5 miles on it, and the crowds surrounding the truck the day before had actually given it a nice cleaning with their shirts and sleeves. In fact, all the MSO cars tended to look cleaner on the second day. Whether this affected their hammer price is a matter of debate. This truck actually had no body damage, aside from the floorboards in the bed needing replacement, and many felt that the $80,000 final bid was well deserved.

Read more: http://www.autoweek.com/article/20130929/carnews01/130929806#ixzz2gKmeOfPS
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Well, we're coming to an end to over 20 years of top-flight, rotissierie restos, dominating the collector car market. Worse, as the market for these cars dwindles, many of the owners of these cars bought at the top of the mark and are still demanding pre-2008 prices for them, which is why we're seeing a big increase in no-sell cars at most auctions these days. This is driving collectors to look for The New Big Thing in the marketplace, and right now that is resto-mods and barn finds. Both are unique collectables and are more affordable, and are a much better investment, than paying top dollar for a restored car that's value is on the way down.
 
I'm sure the state is celebrating over the sales tax revenue (assuming they collect it) and if they don't I bet someone is trying to figure out how.

I also bet that Mr. car dealer guy is telling his wife "...And all those years you told me to get rid of that junk." "Now do you believe me?"
 
LOL you guys are funny... pickups are huge right now on the resto market and Chevys and Fords are what the people want.
As far as the rest of the Chevy stuff..... you guy's like Mopar... Chevy guys like Chevy and the Chevys are fetching high dollars.. Baseball, Apple Pie and Chevrolet.... Mopar has always been less popular. Heck they couldn't even sell the Superbirds off the lots when they were new. Might not be popular for me to say but there are more Chevy guys out their than mopar guys and that's why they sell for what they sell for. I didn't see the show but I watch a lot of auctions and that's what I see happening. No disrespect to Mopar guys at all... they are just a minority compared to Chevy guys
 
99SS like most of the guys on this board I have owned Chevys and still have a few Chevys and I know this thing isn't worth $80,000.
1958-Chevrolet-Apache-31.jpg
 
Your theory is kinda correct 99ss but not really grounded in reality. Yes, Chevy is indeed more popular than Mopar and always has been. But as a result, the sheer numbers of cars produced has had a negative impact on pricing for Chevies over the years. For example, more Camaros were made in 1969 than E bodies were made from 1970-1974, which is why Mopars have been selling for much higher than their Chevy counterparts. Yes, very specialized Yenko or COPO cars are selling for a premium, but a base Mopar has been selling for more than a base Chevy across all models, primarily due to the glut of Chevy product on the market. So Mopars were less popular when new, but more popular when old due to their rarity compared to equivalent Ford and Chevy models.

Second, while Mopar guys are still a minority to Chevy guys, it isn't Mopar guys who have been setting prices since the late 1980s. It's been investors who don't care about any marque, just the current market value of a make/model. There's nothing Mopar guys would love more than to be able to compete with just each other for cars, and set prices accordingly. I'm hoping as the market continues to collapse, and the investors continue to bail out, that might someday be the case.

As for trucks, they were pretty much invisible for decades, but are now coming into the spotlight because the supply of affordable cars is drying up.

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99SS like most of the guys on this board I have owned Chevys and still have a few Chevys and I know this thing isn't worth $80,000.
View attachment 143560

LOL! I remember looking at a red/black 1971 Hemi Cuda convertible that was parked outside of one of the entrances to Carlisle in 1990 with a $25,000 price tag on the window and having my buddy say "that guy is crazy! nobody is ever going to pay $25,000 for that car!"

If someone can buy that truck for $80,000, put $0 into it, and sell it for $100,000 as a barn find, it's worth every penny of $80,000.
 
LOL you guys are funny... pickups are huge right now on the resto market and Chevys and Fords are what the people want.
As far as the rest of the Chevy stuff..... you guy's like Mopar... Chevy guys like Chevy and the Chevys are fetching high dollars.. Baseball, Apple Pie and Chevrolet.... Mopar has always been less popular. Heck they couldn't even sell the Superbirds off the lots when they were new. Might not be popular for me to say but there are more Chevy guys out their than mopar guys and that's why they sell for what they sell for. I didn't see the show but I watch a lot of auctions and that's what I see happening. No disrespect to Mopar guys at all... they are just a minority compared to Chevy guys


That's pretty much how I see it.
 
99SS like most of the guys on this board I have owned Chevys and still have a few Chevys and I know this thing isn't worth $80,000.
View attachment 143560

Not right now but to someone who wants it and its restored to the nines then it would fetch a good price... Like I said I didn't see the show so I don't know how ridiculous it was but......... Chevy guys will spend 90k on a 57 Bel Air no power hunk of iron... and mopar guys 45K on a 440 6 pack roadrunner... Bruzilla ..Mopar are more rare ( because they weren't as popular) due to that and the fact they have more of a cult following they do sell occasionally for high dollars.. there was a time when they were the most expensive car on the market but those days are long gone and not coming back. I cant explain the pick-up craze, I'm not a pickup kind of guy ... but pickups do sell and are very very popular... Affordable cars aren't drying up at all...LOL pickups are just very popular and demand drives the cost... People want resto modded pickups so people are selling them and making money on them. Simple economics there. mopar would have a place in the pickup market if it had produced a good looking truck... but lets face it... they didn't.
 
LOL you guys are funny... pickups are huge right now on the resto market and Chevys and Fords are what the people want.
As far as the rest of the Chevy stuff..... you guy's like Mopar... Chevy guys like Chevy and the Chevys are fetching high dollars.. Baseball, Apple Pie and Chevrolet.... Mopar has always been less popular. Heck they couldn't even sell the Superbirds off the lots when they were new. Might not be popular for me to say but there are more Chevy guys out their than mopar guys and that's why they sell for what they sell for. I didn't see the show but I watch a lot of auctions and that's what I see happening. No disrespect to Mopar guys at all... they are just a minority compared to Chevy guys

Remember where your at... I'm sure if it was a Super Chevy site/forum, you would here far more "yea ha's", than on a Mopar/B Body Site...I don't dislike Chevy's at all, I'm actually a big GM fan, always have been... Mopars are still my 1st love thou, regardless of value & I like being different, than everyone else in the herd... But those were some completely ridiculous prices, there was a deal or 2 but few & far between IMHFO anyway... Especially for "new old stock", corroded & rusted out or rotting hulks, no matter how few or how many miles they had, for the most part... Prices those people were paying are, "stored, cared for & preserved survivor prices" & not a, rotted out, rusted, corroded, pitted, ripped up, weather beaten, sun fried snow covered, sand/wind blasted, rusted out hulk prices... I could actually see some justification for some of the prices, being justified for a few of the ultra rare select few, if they were better preserved, but they weren't, the majority of the 496 cars were stored in a soy bean field & in a tree stand with a bunch of trees growing up thru most all of them, for some as far back or since 1947, outside !!, with like only 55 cars/trucks "I think it was" that actually were stored indoors & but most of them, they weren't in very good shape either, for the $$$$$... Yes the Chevy Brand is very popular, sold probably 5-1 of any Mopars, but also overpaying, is over paying, no matter which brand you love or choose to by, PERIOD !!... Many of them are going overseas, to speculators with really DEEP POCKETS & Auction Whales or investors/buyers from Europe, Sweden, Australia, etc. & many other foreign countries, were they pay shipping costs that sometimes, that rival a "sales cost/purchase price for our old 30's, 40's, 50's, 60's & 70's American Muscle too... IMHFO it's "Not" very smart buying... But that's the way the consumers are sometimes, letting emotion drive the price, getting caught up in the moment & all the hype... I look at it as a good thing... Now our much rarer Mopars {many will say much cooler too...LOL...}, will probably bring more money, because the justification will be, "look what all those Idiots, paid for mostly rusted out GM/Chevy hulks in a Pierce Nebraska's soybean fields/mostly all drug out of a forest"... So much for the collector car markets being dead !! or in a so called decline in the sales prices, like some will want you to think... Some people, just have "more money then sense/brains" too & it seems there are allot of them that are Chevy people now... No matter the brand of cars sold... My $0.02 cent
 
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The wife and I watched the whole show. I was amazed at the prices myself. Some of the cars looked like they were in good shape, and if the owner can get away with only a engine/tranny rebuild and very little body work, then they might get there investment back. I saw the indy corvette went for $80000. Worked at a chevy dealer when they came out and I think we sold it for $55,000 then. I didn't care for all the talking and less auction action.
 
Sonny has a headache just thinking about the prices paid!
pickups' are the fad in some circles ( drop spindles, crate 350, power glide,)yada yada yada, etc,.....I think they make a nice "golf cart" with a bed in the rear!:steering:
JMVHO
 
Sonny has a headache just thinking about the prices paid!
pickups' are the fad in some circles ( drop spindles, crate 350, power glide,)yada yada yada, etc,.....I think they make a nice "golf cart" with a bed in the rear!:steering:
JMVHO

I'm with ya Sonny! I think the drive towards pickups and wagons is due to the fact that the reasonably priced 2dr HT and sedans are well out of reach of a lot of people. And people still like cool cars so they just invent the next cool trend. But when people start telling me that the Yugo has achieved cool status I will have lost all faith in the motoring public.
 
Bruzilla ..Mopar are more rare ( because they weren't as popular) due to that and the fact they have more of a cult following they do sell occasionally for high dollars.. there was a time when they were the most expensive car on the market but those days are long gone and not coming back. I cant explain the pick-up craze, I'm not a pickup kind of guy ... but pickups do sell and are very very popular... Affordable cars aren't drying up at all...LOL pickups are just very popular and demand drives the cost.

I'm right there with you brother! The bloom is way off the rose for Mopars, especially E bodies, but since so many current owners bought at the top of the mark, they're doing their best to keep from taking a loss. Some of the more slippery ones are selling off their collections under the guise of "making room for new cars", but they're really just selling them off as quietly as possible to keep from collapsing the market before they get their money out. The party's over and the last guys at the table will get stuck with the check.

Trucks, barn finds, and resto mods have all been grabbing more of the market because their prices haven't become as artificially inflated by investors as restored cars have and now is a great time to enter that market.

As for Chevy guys, I love em... and Mustang guys too. When two or three dozen of them show up at a car show with the same car, they really make my Road Runner stand out. They all think some insignificant detail about their Camaro or Malibu makes then stand out, but to 99% of the crowd it's just "oh look, another Camaro, just like the other 20 of them. Boring". That's why I always have a crowd around my beeper... it's usually the only one there. :)
 
Not right now but to someone who wants it and its restored to the nines then it would fetch a good price... Like I said I didn't see the show so I don't know how ridiculous it was but......... Chevy guys will spend 90k on a 57 Bel Air no power hunk of iron... and mopar guys 45K on a 440 6 pack roadrunner... Bruzilla ..Mopar are more rare ( because they weren't as popular) due to that and the fact they have more of a cult following they do sell occasionally for high dollars.. there was a time when they were the most expensive car on the market but those days are long gone and not coming back. I cant explain the pick-up craze, I'm not a pickup kind of guy ... but pickups do sell and are very very popular... Affordable cars aren't drying up at all...LOL pickups are just very popular and demand drives the cost... People want resto modded pickups so people are selling them and making money on them. Simple economics there. mopar would have a place in the pickup market if it had produced a good looking truck... but lets face it... they didn't.

I don't think that Chevy truck is any better looking than this 1958 Dodge...

1958 dodge sweptline.jpg1958 Fargo.jpg
 
I didn't see the auction, does anyone know what the lowest winning bid for one of the cars/trucks was?
 
I don't think that Chevy truck is any better looking than this 1958 Dodge...

It's more of a brand loyalty thing than a styling thing. We see the same thing with the Impala vs Police Interceptor with police cars. The Chebbie guys swear the Impala is best even though they can barely fit in them.
 
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