Barrett Jackson car sales

[gtforme]

With not much else to do yesterday I decided to watch last years Barrett Jackson auctions on TV and I noticed a fairly consistent selling enomally and that was the cars around 40 years old in great condition or restored with limited production were all seling for about 10 times their original value , BJ did not put much emphasism on mileage , it seemed as though documentation and condition were the most essential , even color to some extent

It made me think of the GT value in another 35 years , not that I would really care as I will be to old to enjoy it or dead by then , just makes me wonder if in todays economies looking to the future if this same situation is even possible , I think if it is a repeating trend the average worker at a department store , etc. will be making a minimum of $100.00 per hour

 

[Jim]

It would be really hard to sell it but there are 13 times a year that the thought cross's my mind. #1 is this week when my Lic tab renewal came in @ $600....the next 12 times is when I write out the house payment each month. I sit there and say to myself..."gosh if I sold the GT I could pay the house off". It was easy to not pay the house off when our investments were making 8-10% a year or even a CD at 5% and a mortgage at 4.5% but now it's a bit different. That's the Engineer (logic) in me talking....not the irrational "god-I-love-driving-this thing" voice. Add on top of that the fact that NOT driving our cars increases it's value. Yuk...I hate logical thinking.....

 

[SBR]

I definetly think that the Ford GT will be a very valuable car in the future. Whether is performs like the 60s musclecars as far as valuations goes is probably a reaching a little but you never know.

 

[Nardo GT]

Hardly any of those cars were unrestored. If you hold a GT then you have to consider the cost of "restoration". Even if you don't drive it (E.P.), it will still need maintenance & insurance. You could drive it in an enclosed bubble under a cover as some members here apparently do,,,,but still. Driving it is what the car was made for.
Consider a 67 Chevelle SS396. Cost about $3500 new. Brings about $35K restored. An unrestored NICE orig example, but driven, .....maybe $20K now. Also consider that the $35K really isn't $35K.. Sale & entry fee about $4K. Transport to the sale and most likely attendance (hotel etc)...$2K. So, if you net $29K...let's say you paid $15K for a good straight car to restore. Restoration would surely cost more than $14K......probably double that. No money made. Best money would be on an orig car in well kept cond you sell for $20K and you paid $3500 for new 40yrs earlier. Still, hardly an investment.
Definitely there are exceptions....Hemis, Boss 429s, orig Shelby/AC Cobra, various Corvettes, but most of these cars weren't ever daily drivers and were in very limited
production.

Drive the darn car. It will go up.......better than a whole lot of other cars.....and few cars have held as well as the GT from
scratch....most have a declining scale first.

I get tired of hearing old farts say they had a Model A they sold for $150 back in 1940. Take that $150 and figure present day value with interest compounding and you will have MORE than if you had kept that 9yo used car, that wasn't mint then, in a garage. It would need an entire resto. You MIGHT get $5K for it as-is. Plus, the hassle of storage, maintenance and insurance (if any). Poor, poor investment......but you can't tell them that.

 

[ChipBeck]

I don't want to think about that.

......It made me think of the GT value in another 35 years.......

Gentlemen,

Am I the only one here that gets a bit depressed when I'm asked to think about what's going to be going on 35 years from now? :bored

Chip

 

[gtjoey]

Chip.......NOW YOUR MAKING SENSE....:lol:lol:lol
For most original owners we would need a diaper bag not for the grandkids but for us:lol
IF AND THATS A BIG IF...the sun is still shining.........hey everythings going dark...who shut off the lights..........Gino....Gino.......why are you calling me Gino........:eek
Hopefully we make 35 days with the way things are going...what say you Nardo.....its time for a trim....gtjoey1314:thumbsup