Makonut

I have also noticed that the quality of cars have come down starting in Scottsdale. Also the trend for resto mods is increasing year by year. Buyers are willing to pony up more money for modded cars instead of a by the book restoration.

hummiscorvettetaken

When at the Scottsdale auction one of the things I noticed was some of the 'sold" cars sitting around the perimeter of the grounds half parked in the gravel and getting wet in the rain. It's like when their moment in the spotlight is over they just turn in to another used car.

TheSkunkWorks

I have just about completely lost interest in continuing to follow these auctions after that Blazer went for $200K, especially when there's a gorgeous Packard sitting across the street for a mere $38K that I still can't touch.









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international blue

The description as posted. Biggest issue is the shop rate, at 1,200 billed hours. That's $ 60,000.00 at $50/hr. They made some money on this build I think, and it seems like it may be "best in the world" for that particular market on that day. Regardless of the prices and the unreal atmosphere, it is pretty real, and on the sidewalk, deals of similar "unreality" attempt to take place all the time. Offering a respectful dissenting view, I do enjoy the coverage. It is useful to see what is "hot"

The description is pretty good....if it matched, it would be tough to duplicate for $120,000 at a big shop. And you would have to wait for a year and a half. This was ready now and the buyer and his competitor were in the same room. Well sold, but understandable. On the street I would guess $90K...after being on the lot a while.


"This immaculate K5 Blazer Resto-Mod sold new in Las Cruces, NM. There are over 1,200 hours in this complete frame-off build. The rock-solid body retains 95% of its original sheet metal that was completely stripped, top to bottom. The underside was epoxy-primed and coated with U-POL Raptor protective coating for chip and sound control. Dynamat installation on the floor and firewall provides additional sound control. All the metal was epoxy-primed and finished with Dupont base coat/clear coat. The frame, radiator support, inner fenders, original skid plates and fuel tank cover are all powder-coated. It's powered by an LS3 430hp engine with a GM Connect-and-Cruise 4L70E automatic overdrive transmission, mated to the original NP-205 transfer case. The engine is cooled by a DeWitt aluminum radiator. The transmission includes an auxiliary cooler with flexible stainless-steel lines. The front and rear axles are upgraded with new Eaton posi-traction units, bearings and seals, aluminum differential covers and stainless-steel brake lines. Five new alloy wheels with Goodyear tires complete the ride. The interior includes all-new upholstery, carpet and weatherstripping. The comfort is handled by a Vintage Air and heating system. The dashboard features factory gauges, factory tilt wheel and a reproduction AM/FM stereo. The Protect-O-Plate documents the original sale. Also included is a photo album showing the original condition at purchase in July 2015 and demonstrating the build process. It has less than 200 miles since completion in December 2016. This ride is finished for show and built to drive."

bigredbrad

To respond to the original question about the 69 427 435, I think you will find some answers as to why this car was weak in the BJ online listing.

Their listing says that it is a "matching numbers corvette", but in the next sentence it says that it has a hydraulic cam and protronics ignition for drivability. If you look at the 1 single engine photo, you can see the alternator that still has the Pep Boys part number sticker on it, chrome headers, no smog system, kind of a "if in doubt, paint it black" engine compartment restoration, a cheesy K & N air filter....

Being a buyer and seller of Corvettes at BJ, Mecum, Leake, etc for 20 years, if there is something under the money, one of the Corvette dealers will make sure to either buy it, or make sure someone else does not get a good deal. There is no mention of any documentation, engine pad stamping, original engine (an engine can be "numbers matching", but still not be original), trans, etc so I can safely make the assumption that none of those are there.

REMEMBER, EVERY Corvette looks good in photos on the internet and under the lights of a tv auction.

Now on to the 200k Blazer. That my friends is simply a live on TV ***** measuring contest, and when a guy has his rent a girlfriend on his arm for the day, he sure as hell is not going to let someone else win that event. Bring that same blazer back to the auction next week and you will see what a $150,000 mistake looks like.

bigredbrad

Z06LMB

Sorry, but this is the allure of auctions and the first rule at any auction is
"Bidders, You are the experts"
I have been collecting fine art, high end decorative art including clocks, apothecary and period correct American furniture from the federal period 1740s to about 1830s and I'm a recognized expert in my collection field. For research I have an extensive 300 plus book library covering everything I have interest for. Along with a black light, a pen knife, a good pair of 2X reading classes and a compact 32 megapixel 10X zoom camera as the primary tools of the trade, I perform due diligence to confirm authenticity during the preview period of any auction.

The most common mistake at car auctions? Too much pride to admit you are not an expert car inspector. Many just superficially review a short, memorized list of commonly known defects inherent with certain makes and model cars, unfortunately, some will find out the hard way - this was not due diligence. Plain lust sometimes has a way of letting your mind gloss over or overlook common signs, clues and details that an impartial 3rd party inspector can usually identify (and I don't mean bringing uncle Billy because he owns a vette or two).
Over the years I have witnessed too many very good mechanics fail, they just don't have the experience or the knowledge of a clever cover up from a deceitful seller.
At these and other major auctions you will find for a nominal fee, inspection services, a club affiliated expert or even in the case of Corvettes, someone with NCRS credentials that usually knows the tricks of the trade better than you.
I have even resorted to merely hanging out in the area of the item of interest at the auction. Some guys talk out loud with their buddies or inspectors and you may catch that this car was at "So and So's" auction last year or it was in that other auction city last March. Heck, I held back my pride and simply asked a guy one day, "may I ask what you are concerned with about this car?" The man politely said "here, put your hand under here, under the wheel well opening, Feel that uneven cut and welding under the rim, there was quarter panel work done when the info sheet says every panel is all original rust free steel - I have other problems as well" I learned a load from a former stranger that day.
There is a lot of potentially friendly and informative people at these car auctions and if you're lucky you'll find someone like me

Don Rickles

They make perfect sense to, Mr. Barrett and Mr. Mecum

hummiscorvettetaken

Maybe we shouldn't be too surprised or amazed by this - for those of us that have been watching and attending Barrett-Jackson over the years we first witnessed the Amphicar break the bank several years ago, then we saw the VW Bus go top the moon and just last year a late 70's Trans-am went crazy. It appears to be a trend that something "out of the blue" will all of a sudden sell for what appears to be a ridiculous amount of money that has everyone scratching their head including the B.J commentators. I'm sure B.J. will now be flooded with K5 owners dumping $$$$ in their truck attempting to have lightening strike twice! we will see how this trend goes?

joewill

the 10% seller's hit and the 5% buyer's hit go into the equation also.. thats 15% of the final price that can go into the price negotiated outside the auction. a high price to pay.. motivated me to find cars more conventionally advertised to buy or sell.

also.. the final price is always based on who has big pockets and if they are looking for your specific car on that specific day.. if he is not there.. and not looking, he won't bid up your car for sale.

those very few folks that will pay big bucks for your car just may not be there or may not be looking from one year to the next.. so its a crap shoot on how high your car will get bid one year vs the next.

Stroh

I attended the MECUM Indy event in 2014. What a great time! A huge car show and unlimited shopping... and not just cars. Apparel. Car care products. Auto Memorabilia. Some super cool signs and gas pumps. Food. And, oh yeah, BEER. That might explain some of the outrageous buys.

These events seem to have their share of great "steals" and bad "deals." I enjoyed talking to the people looking to buy and those looking to sell. It was an event.

What I enjoy more now is... being able to fast forward through my DVR recording of the cars I have no interest in, while drinking much cheaper beer at home.

I would go again. Early in the week. Or for the Sunday auction, as this seems to be where the deals are to be made. In the meantime, I'll just keep recording and fast forwarding-- stopping to watch and learn about the corvettes I see. Speaking to the OP's question of value: I can attest that the cars seen through a television lens under the bright lights from ten feet away or more tend to look perfect. Even the close ups don't reveal the flaws the way an in-person inspection does. That might have had something to do with the lesser sale.

But $200,000 for that truck? It had to be the beer.

L-46man

I've been to B-J 23 times. It's right next to my house...so NATCH!

I feel I'm a bit of an expert on Corvettes at B-J.

1. Forget what you see on TV. They all look great under the lights.
2. On TV they never tell you the miles , nor the actual condition.
3. Many cars are 'prepped for sale' meaning they are 'spray-bomb specials'
4. If you're on this site, you are a discerning Corvette Crazy...many vettes going through are so 'whacked -out' that when seeing them in person, you would loose your $20 hot-dog lunch (and $8.00 beer) Spider web cracks, bent this and that, worn out carpet covered by floor matts, etc etc etc.
5. Occasionally the prices go the OTHER way....3 years ago Goodwood Green (whatever!)
69 L-88 Tri-power 425 hp...$37,000 no attempt had been made to bring the car up to snuff.
6. Many people buy convenience....all sorted out, convertible, two tops AUTOMATIC...High price...just let the 'wifey drive it'.
7. Of course the ones that WE, on this website really know and like...they go for the moon. Baldwin Motions etc.
8. B-J customers are not like US....$100,000 to some of them is like $1000 is to us.
9. God help you if you have a C-4!
10. Understand where the car is on the Docket...Steve Davis And Gary Bennet are no fools (they arrange the docket) Car going thru on tuesday morning at 10:01 am...it's probably a P.O.S.
11. On TV they rearely read the car discription...non-matching number, wrong engine, everything removed or disconnected....you'll NEVER know.
UNLESS YOU'RE THERE.

I go because I love Vettes and have had a @#$-load of nice muscle cars....Where ELSE can you go and see and hear and watch drive, a 69-C3 with yup, documented, 35 miles on it! Fiberglas sticking thru the paint just like God, Zora and St-louis declared it should be.

Cheers UnkaHal

L-46man

A couple of more things...I went to B-J this year (Scottsdale) Looking 'at' but not 'for' a 82 CE.
They did not have ONE.
However, as others have mentioned, The hammer price isn't.
Hammer price plus
10% buyers commision
9.6% sales tax
Plate fees and reg fees
$2500 to ship it anywhere (unless you're local).

So a $15,000 CE becomes $22,500 plus car (in your driveway) {whoops! you're up-side-down immediately}
One month after B-J I bought my CE....without any of the above B-S from B-J.

Hal

Z06LMB

I have 6 cars and trucks bought at Mecums in the past 38 months. I acquired them below market, had my fun driving them and now they will be at the Harrisburg, PA site this summer, all at no reserve. I'm absolutely positive I will come away with at least an average 20% profit.

Stroh

By the way did anyone see the steel cities gray 71 coupe that had the c7 engine swap? Not sure if it was BJ or MECUM but I thought it was within the last month. Cheap at home beer and the pure quantity of recent fast forward auctions has me confused. I know it got to 60k and did not sell. But man was that one sweet restomod. To me that's another benefit of these auctions: inspiration... Ideas.... Direction. Sure was a cool car.

Z06LMB

Keep in mind that if you put a reserve on your consignment and bidding doesn't reach your reserve you will have a hefty "No Sale" premium to pay, anywhere from a few hundred to as much as half the low estimate.

ONEBADZ

Been to Mecum in Indy. Its a huge car show. Bought our C3 there. It was a Thursday sell though. They get more expensive on the weekend.

momo608

That's excellent advice. The auction in question was a Mecum auction and I was indeed inspecting a car that I was not as familiar with, never owned one before. I'm an expert now. The seller, which in this case was a restoration shop out of Phoenix, was more than willing to tell me what I wanted to hear which unfortunately was completely disconnected from reality. I did overlook things that would have been obvious to someone that knew these cars. I thought about having a 3rd party look at it but with time restraints I stupidly thought I could handle it. There were some Mopar guys at this auction that I have no doubt would have helped me out for the asking. 50 bucks would have probably saved me thousands.



Added

Now that I have this rolling around in my head flashbacks are coming to mind. This particular seller had several cars at the auction, all hauled from AZ to Illinois. It was a big money operation. In hindsight it is apparent that they were pros at making cars strictly auction prepared. Meaning their goal was to hide problems and apply superficial high quality cosmetics for semi ignorant buyers like me! I think my biggest regret in life is underestimating in general how dishonest people can be. Since my mind doesn't work this way, think about if your only goal is to deceive. I could come up with some creative $hit to make junk artificially look good. Oh yeah! it's a California car too.

Revi

Sounds like you've got it all figured out.

How about posting your bought price + fees here now. Then when you go to Harrisburg this summer post the links to your cars auctions, that way we can all see you average at least a 20% profit.

Priya

The one that surprised me was the 75 Corvette Convertible going for over 30,000.