Priya

I was a bit surprised to see a 79 Corvette sell for $28,000 at Barrett-Jackson on Friday. If they said how many miles were on it I didn't see it. I was just wondering what people think is the reason it sold for so much.

540 vette

Why would someone pay that much.

mark79,80

I was also surprised. I looked at the pictures of the car on Barrett's web site and saw it had very few power options, including still having manual windows.
I went thru all the cars that sold and noticed there were relatively few Corvettes of any era. I remember in past years Saturday evening always included a number of high dollar C2's with 427 tri-powers. Not sure if people didn't consign them to sell at no-reserve because they think the market is soft.

BKarol

I can't think of a reason but if crank windows and little options mean higher value, I'm in & will even throw in a 4spd with 3.70rear

https://www.barrett-jackson.com/Even...TTE-L82-211123

zwede

What was the deal with the restomod C1 that sold for $200K? I only saw the end of it so I missed what all it had.

cv67

9k mi primo condition maybe the guy had a thing for a red/red 79 who knows?To some market price doesnt mean much if they want it and have means they will pay the $.

Dont get your hopes up trying to get that kind of money on a forum or CL wont happen

ed427vette

If someone bid 28 and won, that also means someone right behind him bid 27.5 (or thereabouts) and lost it. So, at least two people found something extraordinary about it to bid it up that high.

cagotzmann

This is not unusual for high end auctions where the average salary of the people bidding is in the $1,000,000+ ,

They don't know the value of money they just know there is more where it came from.

Now all other people selling cars are not selling to the $1,000,000+ crowd so the reasonable value changes.

That's like a person making 100k and bidding $2900 ,

The problem this creates, everyone else thinks they can sell a similar car to people making < $100k and get the same value. Doesn't happen and the sit for months / years until they realize the true value.

I have many ads from 2 years ago where the same seller is asking the same price year after year and expecting a different result.

m and t's77

Spot on the domino effect is in full swing on any old car even the low option with base engines examples owners think they have gold on their hands.
For example this guy near me has a nice Trans-Am,but no options and the Olds 403 instead of a real 400 Poncho,yet he wants all the money...while rolling on thirty year old tires too boot.

https://nh.craigslist.org/cto/d/1979...320247728.html

7T1vette

When you have TWO big-money yayhoos that want the same thing....money is no object. The owner of the '79 just got lucky.

v2racing

Barrett Jackson, like other auctions, have been known to use schills. It only takes one guy who wants the car and a schill driving up the price to have outcomes like this.

A friend I have that is in the business says that BJ owns some of the cars that roll across the block. They use schills to bid on them to create excitement and drive up the prices of all the cars. The car used for this is never actually intended to sell.

Barrett Jackson prices have little to do with real world prices.

Mike

Priya

I see it was a really nice low mileage car but that's high even for a similar condition pace car.

cv67

kind of like the Las Vegas for cars..dont think the crank windows has much effect in this case

Priya

I'd say that's often true, but not always. I often see cars sell there for far less than what one would think they'd go for.

Richard454

Low mile cars seem to get some respect-

This was an on line bidding site- so egos and alcohol were not a factor...

15 mile 1978 $35K

https://bringatrailer.com/listing/19...et-corvette-2/



However- a Collector edition 82 with 10k miles sold for $18.5K

https://bringatrailer.com/listing/19...et-corvette-5/

Priya

Despite the low mileage that one still seems surprisingly high to me given the somewhat worn look underneath and the various nicks on the interior and exterior.

cv67

neat find..better offstoring that one. If that oil/coolant etc hasnt been dumped probably looks like milk what a shame.
That rust sux... CE is super sharp!

Mr D.

In 1988 I had the pleasure to sit in this car it did in fact have 15 miles on it and the window sticker on the glass and paper floor mats. The father was a very interesting man and had several cars.

theandies

Cars will sell for whatever the buyer is willing to pay. If he wants a 1979 Corvette and is willing to pay $28,000 then that's his/her decision. Is the car worth that much? You bet, to the buyer it is. Will it command that much on the next sale? Who knows.

Tonio

Do they serve alcohol at those auctions?