jr9170

A red,black 71 454 bid 67k and did not sell.I have seen this 71 on eBay and looks very nice,BUT that is a HUGE number for that car and am shocked it did not sell.There was a Bronze 70 454 with that was Bloomington Gold and only bid 40k.Anybody that was there maybe could explain why that 71 did NOT sell for 67k.

ajrothm

Owner's ego. Much like many of the cars at Mecum/BJ.

C376FL

I heard along time ago, if you want to over pay, go to a auction.

Alan 71

Hi jr,
Is it sorta like musical chairs?
Someone pays too much for a car, and that happens several times until suddenly there's no one left willing to pay too much once AGAIN?
Regards,
Alan

RT2SJB

I was at the auction and looked at that car, it is a 30K car at best. I agree someone is in real deep on that car and is trying to get out.

Stroh

It could be a sign that chrome bumpers, particularly big block cars are on the rise. Or that there is an effort to drive the pristine examples prices up.

I've seen several early c3's at auction get to where I thought the value was, and they did not sell. Too many to think it was just 1 delusional owner in over his head, trying to get too much back out of a car.

Either way, as a c3 owner, I like the increase value. But since I'm shopping for a chrome bumper myself, it's a bit much to digest.

widowmaker221

The sad thing about these auctions is they have helped raise the price of many types of cars which is a shame!

Revi

Obviously you are not a seller.

Everyone always complains that prices are too high, and yet no Seller has ever said to me, "Mike, your offer is just to high, I'll only accept half".

keithinspace

A shame for folks purchasing.

Not quite a shame for folks selling.

I am NOT an advocate of price gouging. There are cars out there that are worth, perhaps, $2 PER POUND. I'd put my car in that category...bent frame, rust, tired engine, old paint. I LOVE my car and am very happy/proud of owning it. I bought it to work on it and there are LOTS of things to work on.

That said, I DO NOT like the idea of me turning my 45 year old chunk of steel into an awesome autocross monster, then have someone tell me that it's worth $14k. I LOVE the idea of a very well prepared and well preserved NOM car getting more money. And I LOVE the idea of the OWNER of a well prepared and well preserved NOM car DEMANDING more money.

I know the car in question...the one referred to in the OP's post...was 'numbers matching'. But if he wasn't willing to part with it for that money, that's his choice.

If EVERYONE did that, then perhaps some of our cars would start to get valuation closer to the blood/sweat/tears that I know many of us have PRIMERED their car in.

RT2SJB

Its a great time to be a seller or someone that bought a C-3 for the right money.

C376FL

I think that is why they take them to the auction, hoping they get three or four bidders start a bidding war. The problem is someone will pay more than the car is worth because they can. In turn it causes the price on the cars to jump. I always wanted to be like some of the people you see at the auction buying three or four cars, if you like them then buy it. Sorry I'm not that rich, or have a banker to back me. It is a business to some, buy and keep it for a few years, bring it back and hope they can make a profit. Some come hoping to find one with no reserve, and get a steal.

Revi

When you sell your car (or anything for that matter) will you be taking the highest offer? Will it matter to you where the money comes from?

Capitalism: God's way of determining who is smart and who is poor. Ron Swanson

PRNDL

If it did not sell, the only reason is that the seller's reserve was not met, right?

If it actually was a "$30k" car, then the seller should have been very happy with $67k.

So, Captain Obvious (me) sees only 2 possible scenarios:

1. Seller is a complete idiot and would not lower his ridiculous reserve to sell the car.

2. The $67k bid was not "real" money but was a shill bid and the seller couldn't actually remove his ridiculous reserve because there was noone (except maybe the seller himself) to stand behind that bid.


So which was it? (I would lean towards #2)

(It wasn't an LS-6 was it?)

Zoomin

It was an LS5 AUTOMATIC car. Nice car, but $67K is a number to be very proud of on that car.

jr9170

Zoomin,I agree I am very happy to see the 70-72 LS5's get their due,and am glad to see the 67k bid,BUT just wondering how much it takes to buy it ? the Bronze 70 only bid to 40k,I thought it would hit 50-55k giving its pedigree...BTw there is 71 LS6 on eBay,seller says it has ZR2 "options".Maybe someone can post the link here.

ajrothm

I agree. This situation could easily be either of those scenarios. Likely a little of both..

Any C3 owner that had a legit bid of $67k would have taken that money and RAN laughing.... That owner was an idiot.

ed427vette

Exactly right on. It was #2.
The market on c3's is so soft right now that it is impossible for me to believe anyone in there right mind would ever consider paying 67k for a 71 LS5. The owner can now show what "someone" was willing to pay and then tell someone else they can get the car at a great deal for 50k (which is also way too high) Total scam.

Zoomin

They didn't fool anyone at the auction and it's doubtful they'll succeed elsewhere with those numbers.

jr9170

The 70-72 LS5's have been bringing pretty good prices for no-nonsense original motor,documented examples,SO a 67k bid on that 71 would not surprise me.Because if there were shill bids on this 71 than the owner blew selling it for a very strong number.

joewill

you pay for originality, and you pay for condition, and you pay for history and doc. for 67K that car should have all of that. you have to be there and do your homework, talk to the owner to see how he justifys his reserve. many top end cars will sell for that. most of us will not go near those prices no matter what, but there is a definite subset of buyers out there that will and do.