Wild Barrett Jackson

[Cadillac Jack 82]

So went yesterday and wow.  Not many Cadillacs but the ones that sold went for dirt cheap.  57 Seville for 26k? 64 flower car for around the same?  Granted they needed work but why do the resto mod ones go for 6 figures?

[tcom2027]

Good morning Tim et al,

It's hard to hard to assess value without knowing the condition. It seems the cars you have pictured are in the outdoor lot. It costs for indoor storage, same for a Saturday or Sunday lot number. Sale times are determined by value and uniqueness. Weekend numbers can cost upwards of a thousand dollars. Sellers commission is eight percent, not terrible if you are selling a desirable car. The lower tier cars sell earlier in the week and typically get lower bids, however the advent of online bidding has helped a little.

The 300K example reflects the new paradigm of the collector world. "resto mods", modifies and later model uber cars. Ugly color by the way. Moonroof really sets it off, ya think? Two biddered fell in love with it. Congratulations to the seller. 

THink Barrett JAckson ain't big? the lot spans 350+ acres. THe tent is over fifteen hundred feet long and is jammed with cars. THere are vendors everywhere. Lots of food and rubber chicken vendors too. 

A lot of sellers think that because a car is offered by Barrett Jackson,they will automatically get top dollar for their cars. It isn't because B-J doesn't try hard to get top dollar. They work the bidders a lot harder than other auction houses trying to get top dollar, but if the money isn't there it isn't there.

Case in point, a few years ago I remember a low number'58 fuel injected Impala sold for 100K. It was documented, low mileage with every accessory offered that year, including Continental kit, record player (45s only) and chromed Kleenex box under the dash. Did the real value of all other '58 Chevies go up, probably not. Did a lot of owners with amatuer restored examples double the asking price of their "dream" Yep.

 I attended the Scottsdale auction in the late eighties when I sold my '41 coupe at Barrett Jackson. In my opinion it's the greatest car show on the planet. You see cars you never knew existed. I consigned early and paid for a noonish Saturday number. It sold around eleven. I got 27K for it, 71K in 2025 dollars. Today I doubt I would get 40K for it. And... remember when assessing the auction value of a car don't forget the stall price for reserve priced cars. THat is the real value of the cars. 

I was there for five days. I wouldn't have traded the experience for anything. It was Pebble Beach and Silver Auctions rolled into one. It was expensive and still is, but worth it.  Hell, get a bidder number, along  a bank letter or have a black AmeX card. You may find your dream car.... or not

It's become a fact that the interest in prewar and early sixties land yachts is waning, unless you have a high point restored or low mileage documented original example of a rare model, it's lost value if you bought it ten years ago, especially if corrected for inflation. As the car collecting population ages the interest in the cars of their youth moves with that aging. Look at the prices of the lower end twenties and thirties cars.

I, along with namy around in the Dot Com days when Investment buyers trailer raced from auction to auction buying up classics at inflated prices. Reality has reduced the celestial value of those cars.

Would I consign any one of my three cars to Barrett JAckson. No. What if I had an early low mileage Hell Cat? Absolutely. You are better off consigning to Bring a Trailer. IIRC it cost around five hundred bucks. Advantage there is there is a comment section where you can interact with potential bidders, but be aware, you will be trolled, just ignore them.

This has gotten way too long and has become a wandering journey off topic  through my past.

Time to clean the BBQ and get beer in the fridge, as the games start in less than four hours.


tony

[Eric DeVirgilis CLC# 8621]

Condition is everything. When a vehicle sells for what appears on the surface to be significantly less than market value, odds are there's a reason for it.

On the other hand, even mediocre examples can bring top dollar. Case in point a 1961 Series 62 convertible with a host of both authenticity and workmanship issues just sold at Mecum Kissimmee for $93,500 (including buyer's fee) which I thought insanely high. Sometimes there's just no rhyme or reason.

I also saw a good number of Cadillacs from the 40s - early '60s sell for some robust prices at Mecum including an exquisite triple black '60 EBZ sell for $374,000 (w/buyer's) which I think was probably a record sale for any '60 Cadillac. Yet, there was another identical 3x black '60 EBZ wearing incorrect wire wheels that sold for $170,500 w/fee. When seen in person, the reason soon becomes apparent.

https://www.mecum.com/lots/1131404/1961-cadillac-series-62-convertible/?aa_id=626640-0

https://www.mecum.com/lots/1134492/1960-cadillac-eldorado-biarritz/?aa_id=641727-0

https://www.mecum.com/lots/1124804/1960-cadillac-eldorado-biarritz-convertible/?aa_id=621132-0

[Cadillac Jack 82]

Oh the red drop top 59 was so wrong but that went for $$$$.  Fully agree the experience is worth the 100 bucks to get in.

[Cadillac Jack 82]

Photos.

[Lexi]

Still, would have been nice to get in and see what was on the block for auction. Clay/Lexi

[5390john]

I spent a few hours watching the action and was surprised that it seems the real high $$ sales were various restomods, especially C-1 vettes. Also noted a large number of pickups.
Seems like pristine restorations were not nearly as common this year.
John Adams