The 3 types of classic car buyers
Safety Car
Joined: Jan 2001
Posts: 4,414
Likes: 763
From: Barrington IL
It's good advice to plan out your estate. I have ten collector cars and I do worry, not about getting full value so much after I'm gone but not burying my wife and daughter in headaches. Coincidentally I am presently looking into auction companies to handle the sales of two large collections I have after I'm gone because I do intend to keep my stuff up until the very end. Quite frankly I wouldn't get upset if they realized 50 cents on the dollar as long as it went smoothly.
Anyone have any experience with collector car auction companies in the midwest who do estate sales like this?
Anyone have any experience with collector car auction companies in the midwest who do estate sales like this?
Last edited by SBR; Jan 10, 2018 at 10:39 AM.
Drifting
Joined: Jun 2017
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Le Mans Master
Joined: Oct 2000
Posts: 8,897
Likes: 1,357
From: Santa Ana CA
I was watching Mecum Auto Auctions on TV the other day. They said , there are now three types of buyers for antique/ classic cars now.
Buyer:
#1 This buyer wants all original parts and with no upgrades, usually people in their late-60’s- 70’s reliving their high school days.
#2 This buyer wants to keep the car all stock, on the interior and exterior, but wants to upgrade to all power and new tech options.
#3 This buyer wants "all custom work" inside and outside with flares, custom paint jobs, all chrome engines, and all of today's modern options, Low Riders are a good example of this group.
Buyer:
#1 This buyer wants all original parts and with no upgrades, usually people in their late-60’s- 70’s reliving their high school days.
#2 This buyer wants to keep the car all stock, on the interior and exterior, but wants to upgrade to all power and new tech options.
#3 This buyer wants "all custom work" inside and outside with flares, custom paint jobs, all chrome engines, and all of today's modern options, Low Riders are a good example of this group.
Last edited by toddalin; Jan 10, 2018 at 01:09 PM.
Thread Starter
Melting Slicks
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From: Michigan
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Race Director
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Team Owner
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From: Greenville, Indiana
I'm not leaving any of my stuff to my kids.
#1 son could be interested but he can't seem to take care of anything. Never did. He has the tools but if he wants something, bid on it at the sale.
#1 daughter doesn't have any attachment to my stuff. Husband is a high roller dentist and doesn't do "used" stuff.
#2 daughter would be thrilled to have one or the other but she has to start the leaf blower or string trimmer for her husband drug (legal) salesman. His daddy bought him a new Corvette when he graduated college about ten years ago. He never drives it.
So, it all goes in the sale. I don't care what they get for it. Won't make my departure from here any different one way or the other.
I don't worry about it, Just don't want to live to see my modest car, parts and tool collection thrown out for the junk man.
Last edited by MikeM; Jan 10, 2018 at 02:11 PM.
Instructor
Joined: Dec 2017
Posts: 193
Likes: 54
From: Lost Wages Nevada
The Next generation is already here!
Here's how "bad" its getting. Last year I purchased a 1964 Studebaker GT "Super Hawk". It was the last full package, R2 to roll off the assembly line on December 19, 1963 before the plant closed forever the next day. Kind of a neat car with interesting provenance; but, alas, I digress.
So now I want to drive the car a little. I call Geico to "bind" the car until I can place "Collector Car" insurance on it. The agent ( and I've been with Geico for 19 years), firsts asks for the vin--it's a combination of maybe 6 or 7 letters and numbers. He comes back on the line and asks for the year, make and model. I tell him: 1964 Studebaker GT. A long pause---then, he asks if I can please spell "Studebaker"???? I ask him if he his ever heard of a Studebaker. "NO" he replies.
Man, am I getting old!
So now I want to drive the car a little. I call Geico to "bind" the car until I can place "Collector Car" insurance on it. The agent ( and I've been with Geico for 19 years), firsts asks for the vin--it's a combination of maybe 6 or 7 letters and numbers. He comes back on the line and asks for the year, make and model. I tell him: 1964 Studebaker GT. A long pause---then, he asks if I can please spell "Studebaker"???? I ask him if he his ever heard of a Studebaker. "NO" he replies.
Man, am I getting old!
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Melting Slicks
Joined: Nov 2012
Posts: 2,276
Likes: 380
From: Waltham Ma.
You have two choices if it doesn't sell, you either keep it or lower the price. You can't let someone's offer offend you. They have no emotional attachment.
Team Owner
Joined: Feb 2003
Posts: 54,105
Likes: 9,418
From: Sitting in his Nowhere land Hanover Pa
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2015 C2 of Year Finalist
Those clowns are the 10% 'ers!
I'm not leaving any of my stuff to my kids.
#1 son could be interested but he can't seem to take care of anything. Never did. He has the tools but if he wants something, bid on it at the sale.
#1 daughter doesn't have any attachment to my stuff. Husband is a high roller dentist and doesn't do "used" stuff.
#2 daughter would be thrilled to have one or the other but she has to start the leaf blower or string trimmer for her husband drug (legal) salesman. His daddy bought him a new Corvette when he graduated college about ten years ago. He never drives it.
So, it all goes in the sale. I don't care what they get for it. Won't make my departure from here any different one way or the other.
I don't worry about it, Just don't want to live to see my modest car, parts and tool collection thrown out for the junk man.
I'm not leaving any of my stuff to my kids.
#1 son could be interested but he can't seem to take care of anything. Never did. He has the tools but if he wants something, bid on it at the sale.
#1 daughter doesn't have any attachment to my stuff. Husband is a high roller dentist and doesn't do "used" stuff.
#2 daughter would be thrilled to have one or the other but she has to start the leaf blower or string trimmer for her husband drug (legal) salesman. His daddy bought him a new Corvette when he graduated college about ten years ago. He never drives it.
So, it all goes in the sale. I don't care what they get for it. Won't make my departure from here any different one way or the other.
I don't worry about it, Just don't want to live to see my modest car, parts and tool collection thrown out for the junk man.
Team Owner
Joined: Mar 2003
Posts: 26,118
Likes: 1,874
From: Greenville, Indiana
Team Owner
Joined: Feb 2003
Posts: 54,105
Likes: 9,418
From: Sitting in his Nowhere land Hanover Pa
2024 C2 of the Year Finalist - Unmodified
2015 C2 of Year Finalist
When I got my first car Dad told me he would help work on true mechanical failure but if I abused it to break it I was on my own. It taught me not to do it.
Safety Car
Joined: Dec 2009
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Burning Brakes
Joined: Feb 2009
Posts: 850
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Definition of buyer #1 is too general. The type of cars in the #1 buyer category must be grouped into a variety of levels defined by how iconic they are, and are forecast to become, irrespective of the difficulty of predicting the future. There are plenty of examples of the #1 generalized thinking from the 1960's that were thought of a essentially worthless that are now worth millions, especially numerous race cars from that period that you couldn't give away.
"Iconic" items, cars or not, will pretty much always escalate in value. The trick of course is to know which train to get on. Ask me how I know.
"Iconic" items, cars or not, will pretty much always escalate in value. The trick of course is to know which train to get on. Ask me how I know.
Last edited by tobaccokid; Jan 10, 2018 at 03:47 PM.
CF Community Team
Joined: Apr 2016
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From: Pittsburgh
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Count me in as a category #1 person 
Advanced
Joined: Mar 2017
Posts: 73
Likes: 7
When I was a younger lad I had a few old Chevys (novas, chevelles and C/10s) over the years that would always have to be a pure stock with low mile cars.
Now I like the more modern high HP quit cars.
Though I would still love to have a 67 SS Nova that looks stock but with all upgraded restromod modern stuff.
Now I like the more modern high HP quit cars.
Though I would still love to have a 67 SS Nova that looks stock but with all upgraded restromod modern stuff.
Last edited by 1betsy1; Jan 10, 2018 at 06:24 PM.
Race Director
Joined: Feb 2004
Posts: 14,984
Likes: 185
From: CT
Here's how "bad" its getting. Last year I purchased a 1964 Studebaker GT "Super Hawk". It was the last full package, R2 to roll off the assembly line on December 19, 1963 before the plant closed forever the next day. Kind of a neat car with interesting provenance; but, alas, I digress.
So now I want to drive the car a little. I call Geico to "bind" the car until I can place "Collector Car" insurance on it. The agent ( and I've been with Geico for 19 years), firsts asks for the vin--it's a combination of maybe 6 or 7 letters and numbers. He comes back on the line and asks for the year, make and model. I tell him: 1964 Studebaker GT. A long pause---then, he asks if I can please spell "Studebaker"???? I ask him if he his ever heard of a Studebaker. "NO" he replies.
Man, am I getting old!
So now I want to drive the car a little. I call Geico to "bind" the car until I can place "Collector Car" insurance on it. The agent ( and I've been with Geico for 19 years), firsts asks for the vin--it's a combination of maybe 6 or 7 letters and numbers. He comes back on the line and asks for the year, make and model. I tell him: 1964 Studebaker GT. A long pause---then, he asks if I can please spell "Studebaker"???? I ask him if he his ever heard of a Studebaker. "NO" he replies.
Man, am I getting old!
Instructor
Joined: Dec 2017
Posts: 193
Likes: 54
From: Lost Wages Nevada
1964 Studebaker GT "Super Hawk"
Here are a few pictures. I loved the car. I understand that there are only 17 known to still exist. Great driver and pretty unusual. My good friend, Col. Wayne McCarey was the prior owner. He campaigned it quite a bit. It won an award 35 times in 39 shows!
Team Owner
Joined: Aug 2007
Posts: 58,061
Likes: 7,146
Army
That experience at Geico is exactly why you should use classic car insurance companies which have that as their core business.
Whadda ya think a claim will be like with adjusters that don’t know dick?
Whadda ya think a claim will be like with adjusters that don’t know dick?