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Auctions sure make it hard to buy a decent car

 
Old 01-17-2019, 03:07 PM
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62cruiseer
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Default Auctions sure make it hard to buy a decent car

Been looking seriously for a replacement C1 or even a C2 and it's tough to find a decent car that isn't listed as "auction" under the price. Followed a couple cars listed this way to the Kissimmee auction and they actually brought less than I would have paid, had I been able to buy from a dealer or directly to the owner. Saw some big money for specialty corvettes at Kissimmee, but several other stock or mildly modified cars actually brought less $$$ than anticipated. Anxious to see the end results for some of the cars at BJ, but again, sure is hard trying to buy a decent car when the owner thinks it will bring more at auction.

Is this where the market is going? Everyone is speculating their car will bring more at auction than selling it the old fashion way?

BH

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Old 01-17-2019, 03:10 PM
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GTOguy
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Your best bet to buy a decent car for a real-world price is right here on this forum. Plenty of great cars at fair prices, owned by private individuals who are 'car guys' and not flippers.
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Old 01-17-2019, 03:24 PM
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Skid Row Joe
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Unless you're willing to see and analyze/inspect the car in person, you're not likely to accurately assess what any car is worth to you. Provided the owner will allow it. Armchair Interneting used cars is just that. Whether buying or selling. Little value in it.




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Old 01-17-2019, 03:26 PM
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Originally Posted by GTOguy View Post
Your best bet to buy a decent car for a real-world price is right here on this forum. Plenty of great cars at fair prices, owned by private individuals who are 'car guys' and not flippers.

I dont think I would buy a car anywhere but here, and from someone that I had seen as an active member posting regularly. I'm guessing it would take me a few months to find exactly the car I wanted, but to find the year, color, engine, & options I wanted, that's the perfect way to buy a C2.

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Old 01-17-2019, 03:43 PM
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here is an example of what you can find here in the Cars for Sale CF. No auction involved.
https://www.corvetteforum.com/forums...e-section.html
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Old 01-17-2019, 04:13 PM
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Old 01-17-2019, 04:19 PM
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Originally Posted by GTOguy View Post
Your best bet to buy a decent car for a real-world price is right here on this forum. Plenty of great cars at fair prices, owned by private individuals who are 'car guys' and not flippers.
I too would agree to that and would have done so if any had come up for sale w/n a six hour drive. There were two midyears I really wanted that were for sale here on the forum by members. But Texas and Washington were just too far for me. I was patient however and found an excellent restored and original '66 L79 with ac just a four hour drive away being sold by the owner on is own.
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Old 01-17-2019, 04:48 PM
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Plenty of good cars being sold by long time, private owners. Many sold right here as others have said. Sometimes, very nice cars trade quietly before being advertised. Have patience and talk to the guys that know these cars. You will find a nice car.
What, exactly are you looking for? Maybe we know of a suitable car for you.
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Old 01-17-2019, 04:52 PM
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Originally Posted by 65hihp View Post
here is an example of what you can find here in the Cars for Sale CF. No auction involved.
https://www.corvetteforum.com/forums...e-section.html

That car was an absolute STEAL. I follow the F/S column religiously, but few rise to value or condition of that 66. I'm not a FB guy, but i would have had to think twice on that one.

BH
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Old 01-17-2019, 04:58 PM
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You should see the PHX Craigslist after BJ is over.
Every 6 cyl rusted out Gen 1 Camaro has a sales price of $40K or more.
Doug
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Old 01-17-2019, 04:58 PM
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Originally Posted by capevettes View Post
Plenty of good cars being sold by long time, private owners. Many sold right here as others have said. Sometimes, very nice cars trade quietly before being advertised. Have patience and talk to the guys that know these cars. You will find a nice car.
What, exactly are you looking for? Maybe we know of a suitable car for you.
Yes, patience has not a virtue of mine, but I'm slowing down waiting for the right car, so I don't repeat my mistake on my 1st C1.

So, all you guys, let's talk "quietly" before you let your really nice 1962 with black interior sell, or your 1965 to 1967 roadster. Always prefer black interior, but have seen a couple of C2's with color matching interiors that I would buy. Older restorations that still show well or maybe a survivor if it really has been taken care of. Looking for a really nice driver and it will never be judged, but I will pay to have it inspected.

thanks,

butch
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Old 01-17-2019, 05:49 PM
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Ok Butch. I will look and ask around.
Did you see the red with black interior, frame off restored 58 listed here today? Non original motor, but looks like it could be worth an inquiry.
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Old 01-18-2019, 08:09 AM
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All my cars were purchased from ads and not at retail auctions... IMO that route is nearly a guarantee that you will pay top dollar (or more), word of mouth or eBay is usually the route I've taken. As far as a car being "too far away to inspect" I don't understand. If you've narrowed a selection down to one or two cars after an arduous search and aren't willing to go somewhere to check them out personally (or have someone check them out) you are passing up on an opportunity.

I flew out and personally inspected my 61 in South Carolina and my 63 in Ohio, my 67 Chevelle was only an hour away so that was easy... You have to be totally prepared to "eat" the cost of travel and lodging if the car is a dud, but you will learn something every time.

90% of classic car dealers are the pitts though....I've driven down to Sarasota a 1/2 dozen times or more just to have a day trip and examine the 'herd' at most of the dealers down that way. Awful, just awful stuff for the most part...

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Old 01-18-2019, 08:52 AM
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Buy the best you can afford now, in 2/3 years the price will look like you stole it. Have your funds ready, nobody wants to wait to see if you can get a home equity loan or you have to talk it over with your wife. If you come and ask if its a good deal on here, by the time you get a guess from pics , someone else will have grabbed it. I know its a big purchase but you have to be ready. Good cars wont last a week on here or CL. I try to post the new cars on CL every couple days. The deals are gone fast. I know for a fact that 2 dealers go to that thread and check it out to see whats new. Just be prepared.
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Old 01-18-2019, 01:24 PM
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Originally Posted by Bowtyeguy View Post
The deals are gone fast. I know for a fact that 2 dealers go to that thread and check it out to see whats new. Just be prepared.
I could not agree more. If you see a car listed on Craigslist within driving distance that fits your parameters, you should be prepared to drop everything and drive out to see it ASAP. The really good cars often are bought by the first person who looks at them within a few hours of the ad being posted.

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Old 01-18-2019, 01:42 PM
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Originally Posted by Bowtyeguy View Post
Buy the best you can afford now, in 2/3 years the price will look like you stole it. Have your funds ready, nobody wants to wait to see if you can get a home equity loan or you have to talk it over with your wife. If you come and ask if its a good deal on here, by the time you get a guess from pics , someone else will have grabbed it. I know its a big purchase but you have to be ready. Good cars wont last a week on here or CL. I try to post the new cars on CL every couple days. The deals are gone fast. I know for a fact that 2 dealers go to that thread and check it out to see whats new. Just be prepared.

I agree on being able to move quickly, but just about any car I buy will have the provision of allowing an inspection by someone I choose. If that is not an option (except a car like the recent 66 BB coupe) I will not play.

I know one dealer/restorer who buys almost exclusively from CL and just flips them for $5-10K more. If the car he buys is good, the next owner gets a good car......if the car he buys is bad, the next owner gets a bad car. I know, doing an inspection is the solution to this problem, but I think many of his buyers are 1st timers who lack experience and knowledge. I sold him back my problem 62 and he hasn't mentioned any of the problems on his website listing, including the damaged frame. Real scumbag.

BH
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Old 01-22-2019, 10:17 AM
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Originally Posted by 62cruiseer View Post
Been looking seriously for a replacement C1 or even a C2 and it's tough to find a decent car that isn't listed as "auction" under the price. Followed a couple cars listed this way to the Kissimmee auction and they actually brought less than I would have paid, had I been able to buy from a dealer or directly to the owner. Saw some big money for specialty corvettes at Kissimmee, but several other stock or mildly modified cars actually brought less $$$ than anticipated. Anxious to see the end results for some of the cars at BJ, but again, sure is hard trying to buy a decent car when the owner thinks it will bring more at auction.

Is this where the market is going? Everyone is speculating their car will bring more at auction than selling it the old fashion way?

BH
I agree with many on this thread but IMHO there are also a couple of advantages to buying at an auction. The first is that no one is going to beat you to the punch and buy a car out from under you because you skipped a day looking at CL or the CF or the NCRS Forum looking for a car FS. You will stand center stage and toe to toe with anyone else who is interested in that same car. The second advantage is that you actually do get to look over the car before you buy it. Granted you cannot drive it but you can listen to it start and listen as it drives up to the bidding stage and look for fluid leakage on the floor. You can crawl around it with a flashlight as well as I have done. On CL or our CF or the NCRS Forum (if it is a great deal) the car may be sold before you ever even get a chance to see it face to face. And yes I agree there are many bad things about auctions (ten percent seller fee and ten percent buyer fee, not able to drive the car, $600 to ship it back to your house etc) but I believe that in many aspects it comes down to a trade off. Here is a picture from the first day of MECUM in Kissimmee of a Trophy Blue 1966 coupe, 427 with Headers. The final sale price was $42,000 with no reserve. It seemed like a good deal to me but I may have had a totally different opinion had I actually been at Kissimmee and been able to inspect this car first hand instead of watching it on TV.

My two cents.

C.J.
1966 Coupe, Trophy Blue, 427 with Headers.
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Old 01-22-2019, 10:24 AM
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A 10% buyer's fee at an auction of a $50,000 car is $5,000...(not counting whatever other ransom you pay to the auction house to park your backside in a bidder's chair).

I'm retired and, at the drop of a hat, can take one helluva lot of inspection trips for that kind of money... You get to stand eyeball-to-eyeball with the owner without the hyped up atmosphere of some auction "helper" goading you into a purchase...and (usually) you can drive the car.

As to the forum cars, my split window was bought "on the quiet" from an active forum member - IIRC it was not advertised on the forum...it got a personal inspection regardless. Which included the seller throwing me the keys and turning me loose, by myself, on a wondrous country drive through Ohio farmland for a half hour.

I think the inspection cost was about $250 for a plane ticket, $70 for one night's lodging and another $60 (or less) for a one-day car rental... call it $400 (with meals)...

Trust, but verify...

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Old 01-22-2019, 12:45 PM
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Originally Posted by AZDoug View Post
You should see the PHX Craigslist after BJ is over.
Every 6 cyl rusted out Gen 1 Camaro has a sales price of $40K or more.
Doug
CL is the bottom of the barrel, a haven for drug crazed flippers

Agree with GTO guy....owners here know these cars best. Auctions....lotsa times youre competing with impulse buyers that know nothing about them other than they saw it and had to have it.

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Old 01-22-2019, 05:02 PM
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Actually, it seems there were some really killer deals at Barrett Jackson. Attend the upcoming palm beach auction and/or Mecum Indy auction. There are always sellers willing to cut a deal at the Mecum auctions after their cars donít meet the reserve.
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