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2023 Mecum Kissimmee
Prices down and most of no sales the first two days at Kissimmee.
I hope this turns around... |
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I don't know if I agree. My old 68 Impala Custom (great, well optioned survivor BB car) was the 4th car through the auction on Wednesday am (crappy slot) and sold for $51,700. It can be seen in the trailer above. Beautiful original Seafrost green with matching cloth interior.
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MOST prices for an early timeslots look pretty strong. ONLY the 66/67 427 Vettes seem down...
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Wow. I question if people are bidding against themselves in these situations. It’s all a whirlwind and you can’t tell who’s actually bidding especially when you consider “the Internet bidder”.
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SBR. I'm looking for a nice "driver" 67 427 side pipe car. And the 3 I seen were nice cars and the $$$ seemed will down about 20%+.
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I saw someone posted Mecum is at 80% sale rate.
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It looks like there were some ok buys. I seen that lot J149, 427/390 Lynndale Blue was was right where it was thought to be, between $80,000 - $100,000. J150 Red 427/435 convert was under the $100,000 - $125,000. And both were with buyers premium.
Just not ready to pull the trigger yet. Will keep making notes and maybe this year we get our '67 427 for a memory of my dad who want to buy one in 1967. |
I may think different than most people but I wouldn't care if the bottom fell out of the collector car market, yes and that includes any cars that I currently own. Every time I hear the term "investment quality" I throw up al little in my mouth.
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I am not sure I would want the bottom to fall out but it wouldn't disappoint me if there would be a correction downward. All of these prices are just crazy to the point that I hate to jump in on a car that I really want for the concern of will the market continue to hold where it is. It's a little like the stock market we are just waiting for the next dip. The fun went out of it when you have to pay as much for a car as you do for a nice house.
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Keep in mind alot of restoration shops would be out of business if the values dropped a bunch.
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Too high car prices… too high restoration prices. Vicious cycle. People will pay the high restoration prices hoping for a super high return at the auctions. The casual layman can’t afford the restoration prices so the market has turned into the wealthy owning the market.
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Trying to time the market is a double edged. Those that thought the market would collapse the past 5 years and waited probably regret not buying "that car" and others that continued to buy feel pretty good (at least for now in the present market). Those that purely purchased cars for their passion of the hobby and love of cars are in good shape whether it's high and low because you can go in your garage and admire your car or thrash on it and smile through the gears. Just don't invest your life savings expecting a return. Speculating whether it be in cars or bitcoin it’s a gamble and always keep that in mind.
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Why are restoration shops being pointed out as the bad guys for making a living and "driving up the cost" of the hobby? I for one do not nor have I ever restored a car for a flipper. One who wants to "restore" the car simply to take it to the auction and flip it and make a ton of money. I only restored for the collectors of which few seldom ever complain about the cost and got what they paid for, their dream car. I am in this hobby for the love of it and certainly NOT the money as I for one have NEVER gotten rich restoring cars. I would also ask why it is ok for people to sell cars and make a nice profit but it is not ok for those that helped you get that profit? Many say they are using it for their investment but we cannot be part of their reason for making that profit on their investment? Those who say our prices are too high don't seem to have an issue being paid well for what they do for a living yet it is wrong that we do???? Building a home is certainly ridiculously costly but I do not hear some of you complaining about that every time you build another home. Many of you make as much or more per hour than I charge for my hourly shop rate (NOT what I get paid). My shop rate is 50% of what my local new car dealership charges but I am wrong? Wow! Sorry to vent on here but I for one have NEVER gotten rich from this livelihood but it is the one I chose and loved so I take it for what it gave me, just don't make US out to be the ones at fault.
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Rick....message received and understood and supported
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The biggest reason restoration is so expensive is because it is incredibly time consuming!!!! Guessing your labor rate is on par with independent repair shops. Because of the high degree of skill, I would expect to pay higher rates. |
The good Corvette restoration shops I've known have been operated by standup individuals that work hard for a living.
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Additionally, these hard working shop owners are faced with ever increasing costs of doing business, aka overhead, plus cost of materials, local, state, and federal regulations, AND trying to retain competent employees.
I was on the phone this morning with my body/paint guy who mentioned how he no longer has anyone to install convertible tops. So many skilled people are leaving the business. - Bill W |
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Bill |
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I cannot be believe that a car person, on a site like the Super Car Registry, would even think about the comment you made, much less blurting it out in writing on the site. Furthermore, I can't believe I'm the only person who called you out on it. Donny |
I wouldn't mind it if the bad resto shops went out of business. In to 30 years of doing restorations though, I've only had one bad experience. I send the rare cars out for restoration, and do the less valuable cars myself (except for paint which I don't have the equipment or skill to do myself). If you've ever done a complete nut and bolt restoration, you know that it takes a minimum of 1,000 man hours. A lot of tedious work combined with knowledge and skill.
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I guess I should have explained my comment. I was referring to the bad shops. The ones that are in it just for the money. The ones that don't put in the research to make sure the restorations are done correctly. The ones that hide and cover up bad work. Shops like Rick's will always have work because of the quality of what they do. I am sorry for not being clear as to what I meant.
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Waiting for the dip...
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I am waiting for a "downward correction" but am doubtful it will dip enough to meet my budget ! |
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Me too!
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If the dash carrier is original, then it wasn't a U17 optioned car. Could have had the console without gauges, but the gauge package included the clock.
Mecum quit posting pics of trim tags and engine stamps, so no pics. |
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She looks so sad
Fender drop, new repo fenders |
Although that fender droop isn't near as bad as most aftermarket fenders I have seen. Guessing the body shop spent some time correcting it, at least to a degree.
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Some great Camaros coming up for Auction.
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my feeling on that orange Camaro is it was a maybe clever way to transfer an extra $80-100K to a seller. Maybe watching Ozarks skewed me a bit on potential money laundering, but something is real fishy on that car sale. I know people fight over a certain car type, but this is not a survivor car, its not a copo, its not a daytona or hemi cuda. Its not a costly to build resto mod. Just a very odd sale and smells funny. It's an elephant in the room sale (and the elephant is not a hemi ;) )
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It sold at Mecum IL 2014 for $60,000, again the following year at Mecum CO for $59,000.
Quite an appreciation. |
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