Optimistic Buy It Now Price

Chris Summers wrote: A family friend paid $15,000 for a Ford Model A coupe that's interior was a pile of springs, no dashboard, body was covered in rust, no glass, no trim, and had a 1950s tomato juice can being used to hold oil. He used it to make a rat rod, which was his intention from the start, but I still thought the price was outlandish. He bought the car on eBay.

At the same time, one of our local collectors has spent the last ten years restoring a 1948 Packard, which is almost finished (and drivable/presentable as is). His health took a turn for the worse and the car has been for sale for months. He can't give it away. Last I heard, the asking price was $10,000.

Two great examples of affordable collectibles. $15K should have bought a very nice Model A though, but probably not on eBay. Post war Packards also go for pocket change (except for converts, Patricians, etc) which I don't understand with their heritage and style. A guy at work has a 1951 Packard 4-door, it's a rock solid, original paint, family heirloom but he drives it almost every day because it really isn't worth any more than a used Cavalier. Plus it's a blast to drive, I took it to lunch one day last summer and it drives like new (probably better than new with radials). It's tempting to fill the barn with underappreciated cars like this!

I consider TV Classic Car Auctions to be TV PROGRAMS and should be viewed as such along with Mission Impossible,Star Wars, etc.

A family friend paid $15,000 for a Ford Model A coupe that's interior was a pile of springs, no dashboard, body was covered in rust, no glass, no trim, and had a 1950s tomato juice can being used to hold oil. He used it to make a rat rod, which was his intention from the start, but I still thought the price was outlandish. He bought the car on eBay.

At the same time, one of our local collectors has spent the last ten years restoring a 1948 Packard, which is almost finished (and drivable/presentable as is). His health took a turn for the worse and the car has been for sale for months. He can't give it away. Last I heard, the asking price was $10,000.

Curt,
I completely agree with what you are saying. I very seldom see realistic prices any more. I doubt if it will change with the bad economy.

Last weekend I attended the car swap meet at Reno Hot August Nights. Out of the hundreds of cars I saw for sale, there was only one, a low mileage '71 Monte Carlo, that I thought had a sensible price, and it was snapped up quickly, probably by a speculator.

I have been looking around for a '54 Ford coupe (trying to relive my high school years I guess), I recently found one for sale in Idaho on the internet for $8,500, no photos. So I corresponded with the seller and he sent me some photos. The car is a major project that in my opinion is not worth $2,000. Like you said, the average guy is getting priced out of the hobby.

Steve Derus

It always amazes me what people think certain cars are worth. I blame televised auctions( I won't mention names) for this trend. People with a lot of money are put on the spot in front of millions of viewers and pressured into paying thousands and thousands of dollars more for cars they want,(and can't restore for themselves), just because it's easier, (and less embarrassing) than walking away and finding another car. Joe public sees a 69' RS/SS Camaro sell for ridiculous money, and suddenly his rust bucket six banger "ought to be worth at least half that". And away we go! I won't even go into what has happened to Mopars. 318 cars turned tribute Hemi cars are selling for stupid money as well. It's disheartening to be priced out of a hobby I've enjoyed for thirty five years because the price of a decent builder has gone through the roof. I guess a lot of talented amateur restorers will be collecting stamps if this don't change. Maybe the crappy economy will bring people to their senses.
Curt

Well, you could buy mine right now for somewhat less...

cgi.ebay.com/ebaymotors/ws/eBayI ... K:MEWAX:IT [/i]