Sxrxrnr

I was the top bid on this car at Mecum Monterey this past August. My bid was 110,000. Did not meet reserve and the car went home. I've made an offer to buy the car that has been refused as the owner said it was going to Barrett in January 13.

The gentlemen says that he spent over 200k building the car. I met the builder and he confirms this.

He called me a couple days ago to discuss further,,,I think he is getting a bit of stage shivers,,,his 110,000 experience at Mecum did not help,,,,as Barrett is a no reserve venue.

He hopes to sell at 150,000 there and after all expenses, shipping, travel, hotels, commission and bidder depost of 1,500.00 for a good spot, he would do well to net 130,000,,,,likely a few thousand less. I have offered some 10,000 plus dollars less than this,,,,more like 117,000. However no risk for him.

But again no reserve, so he is gambling a bit,,,of course he could get 175,000 or more considering some of the insanity that can go on there at times.

Here is the URL on the car from the August Mecum Auction.

http://www.mecum.com/auctions/lot_de...A0812-134269#3

Car would be a perfect companion to my currently owned 59 which is a very nice build.

I believe the man is trying to have me save him from the risks of Barrett and no reserve. I am happy to oblige, but at a price where I would not be instantly under water myself.

Anyone who would care to give their opinions on what the car might be worth in this turbulent market, please chip in with their guesstimates,,,realizing of course that if you've not seen it up close and personal, it is very hard to do.

One downside for me, is that it is a GM overdrive automatic,,engine is a ZZ4 with injection added.

Car is to be picked up by common carrier this coming Friday to be shipped to Barrett. He would lose his Barrett deposit plus shipper fees if car is sold before hand.

wolfemc

My $.02 is that you'd be better off letting this go to BJ, and be there yourself to watch it bid up. If you could go, you'd have the chance for side-by-side comparisons with other top quality resto-mods. Bottom line is that you've got a price in mind, and the car is not perfect for you anyway (ZZ4 auto). If it's "that perfect car" for someone else, take it to your price point and then let them take it higher.

capevettes

As Wolf said the ZZ4/automatic combo isn't anything exotic. An LS7 with a 6 speed would be far more interesting. Why did they not paint the entire cove? It just doesn't look right. These cars are really hard to price. I assume you have more info on the chassis build. I also thought BJ had changed their no reserve policy and now allow reserves in some cases. Your offer seems more than fair and I wouldn't raise it. The car will bring what the market will bear. At BJ with deep pockets and booze flowing, anything is possible.

Rich Yanulis

You are asking for opinions...........

I have been in situations like this many times in life, where is no right or wrong answer.
When I try to second guess myself it just makes the decision worse.
It seems like you put quite some thought into your offering price of 117K.
I would just stick with your initial offer and let the Seller make the decision for you.
If he does not accept, follow the auction and see if it can be bought for less.

About the value........it looks like a lot of car for 117K

fullcontrol

Keeping looking, there is no shortage of great cars.

Frankie the Fink

Uninspiring ZZ-4, overly-tinted windshield, analog gauges (I like Dakota Digital).
Wheels are OK but not what I would have picked.

Nice cup holder though. Keep looking.

jrs 427

High end resto rod should have at least an LS six speed combination. Beautiful paint & body work. Personally the dash is a bit over the top. It looks crowded, too much bling.
The right bidder, the time of sale ... after the dust settles ( all incurred expenses ) and it sells the owner would be extremely lucky to have 125 in his hand.
Isn't it amazing what one can spend in a restoration shop as those hourly rates pile up ?

fullcontrol

If this brought $99K, I don't know how the one you are looking at is worth $117K or more.





http://www.mecum.com/auctions/lot_de...=FP0912-137210

Kent in KC

Looks like an LS engine to me. I do agree with Fullcontrol about the white one!

Sxrxrnr

I think that I was also taken with the cup holders,,,,do not care for the gauges, actually prefer the stock look as in my 59, agree with you on the wheels, ZZ-4, Automatic.. You guys are correct for top dollar should be a LS-7, 6 speed.

Point well taken to register as a bidder, either on site or phone and throw in my bids. This is what I did at Mecum last summer when I bid to 110,000,,,he had a 150k reserve. And I was top bidder, I believe 2nd place was 100,000. Would be really surprised that Barrett could get a bid 40 or 50k higher so that the seller might net his 125 to 130 after expenses.

Really tough to be in his postion, to have well over 200K in the car(the local labor rate at the shop that did the work is 53 hourly,,,where I live it's closer to 100 +)and now struggling to get half of it back,,,,that's a reason that I am cautious.

The other issue is that this car will cost the buyer at least some 15,000 to 20,000 dollars or more extra as these are commission fees that go straight to Barrett's coffers at the expense of the buyer and seller.

I don't care for the red painted coves either,,,when I first saw the car, took me a while to figure out what looked odd.



Some of you may have seen photos of our current 59. They are posted below again. Car has ZZ4(I do somewhat prefer the period correct look of a 4 barrel car), 6 speed Tremec, Ridetech air ride E3 internal sensor Shockwaves, Jim Myer front and 4 link rear on 59 chassis, power rack and pinion, power disc brakes, multi-amp stereo, Ford 9 inch, leather interior, paint and body work are as good as it gets.

However I do believe that the subject car though not as finely done in body and paint, is likely a more expensive build. It does have AC, PW, fuel injection, Hardtop Restoration hardtop, and a number of other really nice and well done touches. It too has a 59 Vette chassis with Jim Myer front and 4 link rear, 9 inch Ford/Dutchman axles, but is running coilovers instead of air suspension(what's better is subject to debate, but air is more expensive). Photos show car with 45 series Nitto's now has 55 series Michelins, shows Ridetech E2 display, now has E3 system(I know some of you would catch this) and now has Calyfornua yellow/black period correct YOM plates,,,including now front license plate.

Really interesting to hear the opinions from you all on this car that I am looking at.

I will likely be speaking with the owner this week again,,,he says will call me Wednesday,,,likely before it is loaded for shipment to Scottsdale.

Advice is well taken, I think I will wait and see how plays out at Barrett.

Kent in KC

Sorry, now I see which is which - the video of the red car with the LS motor had me confused.

63 C6

I dont see 200000 in this thing anywhere i could seriously build it for half. I say the 110000 was fair

Kerrmudgeon

I don't believe the "no reserve" thing for a minute! It's amazing how some of those phone bids appear when it looks like bidding has stalled! May not be as risky as it appears.

62Jeff

An awful lot of things you don't like, for a car you are thinking of spending $117k on. For that money I'd find a car I loved, not a car I compromised for.

SpartyGW

I know you really want the car since you've gone this far but I would let it go to BJ like others have said. We'll see how the market reacts to the cliff tomorrow but I wouldn't be surprised for purse strings to be tight at BJ.

As for the car, I really like the dash. The only thing I'm curious about is why that windshield is so dark.

vettebuyer6369

There's an awful lot of restomods out there people are trying to salvage some money on, they are at every auction. Why not wait and shop with power?

steveale

I was watching last year's for several hours the other day...they "prefer" no reserve but will run reserve auction upon request. I think they take a bigger commission on reserve auctions.

You should just go to BJ if he won't side deal. If he goes no-reserve you might pick it up for $95k...if not, things happen for a reason.

mike coletta

I'd be surprised if that car brought even 100K today. My two cents is that it's worth about 85K. There are a lot of cars to choose from these days, and when you have a modified stock frame, vs. new, and a 700R hooked to "old" engine, I believe that the market drops the car back to a "nice NOM" car. A nicely done, brand name chassis, late model drive train, etc., should get you 125-150K. The white car above is beautiful, but the windshield is pulled off of the glass, the fit and finish is horrid, (I looked the car over this past weekend, as it is in Fl now). It has an LS1, and some homemade backyard chassis. That car is 100K on it's best day. One of the cars that I built is going through Mecum in Jan,http://forums.corvetteforum.com/c1-a...ned-today.html and the reserve is less than what your friend is asking for his. There is also a 62 (maroon/saddle), going through in Jan (mecum), that I know well. It's reserved at 100K, with a Dawson chassis, new LS3, new 6 speed, etc. The cosmetics are not perfect (they guy that built it is not really a "finisher"), but the car is on a new, late model platform, and well worth the money. http://www.mecum.com/auctions/lot_de...=FL0113-143558 My advice would be to stay away from BJ. It could be a disaster. Of course, you never know with that bunch. I know a few people who have been VERY disappointed with the results, but you never hear about those guys. Just my 2 cents......
I've built a bunch of these cars, with the latest in chassis components, engine transmissions, gadgets, etc., and have never had one owner have more than 120K when they were done. That includes between 35-40K for labor. The cost of parts, materials, plating, etc., will generally be in the 55K range. Car will be in the 30K range, and labor in the 40K range. So how these guys get to the 200,000 number, I'll never know. Because they are modified cars, the value is directly linked to the cost of the build, assuming that you didn't get ripped on the labor. I often have customers ask me what thier car will be worth when it's finished. The answer is "probably what you have in it". Just because "YOU" own a car, it doesn't make it worth more money. The market is what it is. I guessing that I could have built that car for 70-75K, depending what the "original" car cost was. Just because someone tells you that they have 200K in a car, that doesn't mean it's worth more money. I hear it all the time........."over 2000 hours to build", "no expense spared", blah, blah, blah.....

Mike Coletta

Keep in mind also, that in a reserve auction "chandelier bidding" is perfectly acceptable (and legal) up to the reserve. You may have been the only "real" bidder.Mecum does it all the time. http://buyingatauctions.com/?p=718
http://www.danziger.com/articlesnews/?p=16

AZDoug

Two comments.

The dash in the car being discussed looks like it fell out on an ugly tree and hit every branch on the way down. Absolutely hideous. Maybe black faced gauges would look better, I don't know.

Just because someone spent $200K, doesn't mean they got an honest $200K worth of results. I was quoted everywhere from $8500 to $75,000 to PAINT my car. I chose the $8500 guy and got a better paint job than anything the $75K shop ever did on a restoration., or at least comparable to their best on a street rod

Doug

LoneStarV

For that kinda money? You should have what you want the way you want it down to the last molecule. Hire Mikey to build you one.