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You really can't blame Barrett-Jackson for trying to get every penny they can. The market for American muscle cars is near its end. With the Baby Boomer generation aging and getting smaller by the day, the market for these nostalgia cars will evaporate and they will be worth pennies on the dollar compared to where prices are now. The people buying these cars are in their late 50s to 70s, once they are gone the cars will hold very little appeal for the younger generations.
You really can't blame Barrett-Jackson for trying to get every penny they can. The market for American muscle cars is near its end. With the Baby Boomer generation aging and getting smaller by the day, the market for these nostalgia cars will evaporate and they will be worth pennies on the dollar compared to where prices are now. The people buying these cars are in their late 50s to 70s, once they are gone the cars will hold very little appeal for the younger generations.
This is right on point. Prices seemed to have peaked for the more common cars.
One more thing - you can buy a used 300+ horsepower Camaro/Mustang/Challenger in the mid teens to low twenties that has all the modern updates and will run to 100k with not a lot of maintenance. You can also use it as a daily driver and not worry about your 'investment' losing value. I think this has really affected the resto-mod market, too, where builders stick a crate engine in a Camaro and update the suspension, brakes, steering and interior. Why bother with that when you can buy a properly engineered, modern car for less money that can be repaired in almost every town in the USA?
This is right on point. Prices seemed to have peaked for the more common cars.
One more thing - you can buy a used 300+ horsepower Camaro/Mustang/Challenger in the mid teens to low twenties that has all the modern updates and will run to 100k with not a lot of maintenance. You can also use it as a daily driver and not worry about your 'investment' losing value. I think this has really affected the resto-mod market, too, where builders stick a crate engine in a Camaro and update the suspension, brakes, steering and interior. Why bother with that when you can buy a properly engineered, modern car for less money that can be repaired in almost every town in the USA?
Bingo, safety is a big factor too. Unless you are buying a classic car simply to look good in the garage, at some point you will be driving on the roads with the rest of the texting, eating, makeup applying public. The safety features on a stock original condition 60s era muscle car are almost non existent. If you want a muscle car that you can drive, you can spend much less money for a more modern version that will perform better and be safer than anything from the 50s and 60s.
I went up to Mohegan Sun for Barrett Jackson in June. It was an experience. I saw a few cars go for BIG money for no other reason than they were Barrett Jackson cars.
I’m not sure why anyone would “hate” BJ. Also the goal of any auction house be definition is to get as much money as it can. If it doesn’t maximize the price bidders are willing to pay then it’s doing a disservice to the listers.
If you don’t like the prices for American muscle cars then blame all the rich older Americans with inordinate amounts of money to burn and not the show or auction house. I find BJ is car pron and get so see all the amazing work people have done to restore their vehicle. I even enjoy the resto mods or the custom work that people do even if it doesn’t folloe manu spec.
Car selling for $100,000 Buyer pays $110,000, seller gets $92,000, B-J gets $18,000 I think I'm going into the car auction business.
Yeah good luck with that!
B-J also gets a piece from advertisers, tv coverage and everyone involved right down to the towing company that is transporting your dream car home. Remember those tents, event location fees, all those employees milling around, moving cars around need to be paid by BJ also.
I’m not sure why anyone would “hate” BJ. Also the goal of any auction house be definition is to get as much money as it can. If it doesn’t maximize the price bidders are willing to pay then it’s doing a disservice to the listers.
If you don’t like the prices for American muscle cars then blame all the rich older Americans with inordinate amounts of money to burn and not the show or auction house. I find BJ is car pron and get so see all the amazing work people have done to restore their vehicle. I even enjoy the resto mods or the custom work that people do even if it doesn’t folloe manu spec.
Except the seller isn't getting the maximum price......
To me the whole process is rigged against the buyer/seller.
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Originally Posted by SWFL_Native
I’m not sure why anyone would “hate” BJ. Also the goal of any auction house be definition is to get as much money as it can. If it doesn’t maximize the price bidders are willing to pay then it’s doing a disservice to the listers.
If you don’t like the prices for American muscle cars then blame all the rich older Americans with inordinate amounts of money to burn and not the show or auction house. I find BJ is car pron and get so see all the amazing work people have done to restore their vehicle. I even enjoy the resto mods or the custom work that people do even if it doesn’t folloe manu spec.
Liking it or not is personal taste but it seems the majority of those vehicles haven't been 'restored' but brought to a level of fit and finish far beyond that which they ever left the factory with.
Except the seller isn't getting the maximum price......
To me the whole process is rigged against the buyer/seller.
How is the seller not getting the maximum price? The purpose of an auction is to bid up to the maximum price a buyer is willing to pay. If this is not happening then BJ is not doing their job and the seller should go elsewhere. Separately all auctioneers get a slice of the purchase price as their auction fee. This has been the premise of every auction of every good throughout time. The value of the auction is that I’d supposedly brings together more buyers than if an individual sold privately. This in turn should create more demand and draw a higher price.
What else specifically about BJ is not happening?
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