Comments on 57 Biarritz

[Jon S]

No, prices are going through the roof because "non-collectors" with limited knowledge of cars are buying them as "investments."  This spoils it for the true collector and has caused prices to rise exponentially.  Barret Jackson and others are not helping anyone else but themselves!

[Louis Smith]

No, prices are going through the roof because "non-collectors" with limited knowledge of cars are buying them as "investments."  This spoils it for the true collector and has caused prices to rise exponentially.  Barret Jackson and others are not helping anyone else but themselves!

That's exactly what I said.    This sale will lead to the trickle down pricing of other cars of the same era.  First will be the basic convertibles, followed by the hard tops.

[Mike Baillargeon #15848]

What you guys are describing is a bubble in our Cadillac car market.

What we do is sell our cars into this craziness........... "non-collectors" with limited knowledge of cars are buying them as "investments." 

Then we buy them back when the bubble pops.

We end up with the same cars and alot of stupid money in our pockets!

Mike Baillargeon  #15848

[Eric DeVirgilis CLC# 8621]

No, prices are going through the roof because "non-collectors" with limited knowledge of cars are buying them as "investments."  This spoils it for the true collector and has caused prices to rise exponentially.  Barret Jackson and others are not helping anyone else but themselves!

B/J is in business. "Helping itself" is what it should, indeed must do. It employs scores of people for a paycheck and has millions in expenses annually. I have no problem with that. This is America.

I will agree, on one point: A lot of big spenders not well versed in many of the important points of what makes for a strong blue-chip collectible often overpay as in the case (IMO) of this '57. Many of them probably don't even care what the car is/isn't or the loss they'll absorb when the time comes. That's just they way it is and if the bubble bursts, so be it.

However, there are still many avenues open for those of limited means to get a nice collectible Cadillac. If one is patient and prepared, there are some very nice cars to be had for relatively little money.

[Louis Smith]

B/J is in business. "Helping itself" is what it should, indeed must do. It employs scores of people for a paycheck and has millions in expenses annually. I have no problem with that. This is America.

I will agree, on one point: A lot of big spenders not well versed in many of the important points of what makes for a strong blue-chip collectible often overpay as in the case (IMO) of this '57. Many of them probably don't even care what the car is/isn't or the loss they'll absorb when the time comes. That's just they way it is and if the bubble bursts, so be it.

However, there are still many avenues open for those of limited means to get a nice collectible Cadillac. If one is patient and prepared, there are some very nice cars to be had for relatively little money.

"Relatively little money?"  Just how much is "relatively little money?"  Just what will "relatively little money" get one?  "Relatively" to one person, might be expensive to many others.  It is my thinking that the older the model year, the more desirable it is, and the more they will cost.  The newer ones, will be cheaper, but just how desirable are they?

Oh yes, less anyone think I am a carrier of impending doom and gloom, I am not.  I am mere stating my opinion as I see it, due to many factors.  Hopefully I am wrong.

[Eric DeVirgilis CLC# 8621]

"Relatively little money?"  Just how much is "relatively little money?"  Just what will "relatively little money" get one?  "Relatively" to one person, might be expensive to many others.  It is my thinking that the older the model year, the more desirable it is, and the more they will cost.  The newer ones, will be cheaper, but just how desirable are they?

Oh yes, less anyone think I am a carrier of impending doom and gloom, I am not.  I am mere stating my opinion as I see it, due to many factors.  Hopefully I am wrong.

One has to be realistic in their expectations. A late '50s convert is going to cost some serious dough, no question. You can't expect caviar for hot dog money.

However if one is resourseful, there are many excellent ways of getting a nice vintage Cadillac for relatively little money. By that I mean the amount of money some people spend on getting a grille and bumper rechromed alone!

How about $5500 for a beautiful 1980 Coupe deVille. Mostly original paint car in Carmine red with white top with white leather with red carpet with 69,000 miles.  Or a 1977 Coupe deVille in Black, black with burgundy cloth- one owner 76,000 miles for $4,500. Or 1977 Coupe deVille with 13,000 miles!- Triple yellow for $6,000!  I posted a link myself here in hopes a fellow CLCer would get it because it was such a steal. It was sold in 1 day, unfortunately. All the above were #3+ to 2- condition perhaps needing some minor mechanicals sorted- NONE needed restoration and all were mostly all-original cars. (You must never buy 1970s cars and newer needing restored under any circumstances. It's financial suicide.)

These are just a few examples that come to mind all within the last 6 months. Nice Broughams 87-90 can be had all day long in the $5-7K range depending on mileage, options and most of all COLOR! Black being the most desireable & valuable. Many of cars in the 20-30 year range are at near bottom values at present and are for the most part, very liveable and servicable at modest cost. Of course, certain engines should be avoided within this time frame, ie: HT 4100.

At this writing, there's a gorgeous black 1981 Fleetwood Brougham on eBay that looks exceptional. It'll probably land at around $5,500 or so.

Now if you're a working man an expect to buy a driver quality '50s Caddy Coupe for under $12K, that's probably not going to happen. However a buddy was looking at a '54 Series 62 Sedan- black with power windows and air!! Car went of around $8,500 IIRC and it looked really nice.

I could go on ad infinitum. Point being that you can get a damn respectable Cadillac for a pittance of what the car cost new. Cars that will never be made again and will endow their owners with all the comforts and luxury for which we celebrate The Standard of the World!

Now if you're talking about someone looking to get into a really nice car who's got $500-2000 to spend.... well that's another story.

[Louis Smith]

One has to be realistic in their expectations. A late '50s convert is going to cost some serious dough, no question. You can't expect caviar for hot dog money.

However if one is resourseful, there are many excellent ways of getting a nice vintage Cadillac for relatively little money. By that I mean the amount of money some people spend on getting a grille and bumper rechromed alone!

How about $5500 for a beautiful 1980 Coupe deVille. Mostly original paint car in Carmine red with white top with white leather with red carpet with 69,000 miles.  Or a 1977 Coupe deVille in Black, black with burgundy cloth- one owner 76,000 miles for $4,500. Or 1977 Coupe deVille with 13,000 miles!- Triple yellow for $6,000!  I posted a link myself here in hopes a fellow CLCer would get it because it was such a steal. It was sold in 1 day, unfortunately. All the above were #3+ to 2- condition perhaps needing some minor mechanicals sorted- NONE needed restoration and all were mostly all-original cars. (You must never buy 1970s cars and newer needing restored under any circumstances. It's financial suicide.)

These are just a few examples that come to mind all within the last 6 months. Nice Broughams 87-90 can be had all day long in the $5-7K range depending on mileage, options and most of all COLOR! Black being the most desireable & valuable. Many of cars in the 20-30 year range are at near bottom values at present and are for the most part, very liveable and servicable at modest cost. Of course, certain engines should be avoided within this time frame, ie: HT 4100.

At this writing, there's a gorgeous black 1981 Fleetwood Brougham on eBay that looks exceptional. It'll probably land at around $5,500 or so.

Now if you're a working man an expect to buy a driver quality '50s Caddy Coupe for under $12K, that's probably not going to happen. However a buddy was looking at a '54 Series 62 Sedan- black with power windows and air!! Car went of around $8,500 IIRC and it looked really nice.

I could go on ad infinitum. Point being that you can get a damn respectable Cadillac for a pittance of what the car cost new. Cars that will never be made again and will endow their owners with all the comforts and luxury for which we celebrate The Standard of the World!

Now if you're talking about someone looking to get into a really nice car who's got $500-2000 to spend.... well that's another story.

Excellent post, and as far as I am concerned you are right on the money, pun intended.

[Quentin Hall]

       I think some of you guys must be missing the point as to why this car is $pecial. It was the first cab off the rank for 57.. . . and a Biarritz to boot.  Of course that would attract a premium. I know that I was very interested when it was for sale as an unrestored car a few years back  first on ebay and then from a dealer for $75k odd. The free market is the real decider of what something is worth and in this case apparently it is worth quite a bit. So don't bemoan the loss of the hobby of true enthusiasts to dumbed down investors? Heck we don't even know who bought it yet. If you have $590k to buy the Cadillac of my dreams, you must be doing something right.  I envy the barstard. It could be one of us. And really for what it is I can't see the problem with the price for the seller or the buyer.
       $590k is still nothing like a Jackson Pollock or a Monet but probably a lot more satisfying to own if you are in that money league.  Arguing minor details of the restoration and fit and finish are probably irrelevant. Yes , whilst I agree that a couple of gaps could be tightened up or a couple of stickers added or removed it wasn't these factors that attracted the premium ($2grand would fix those problems anyhow and easily rectified). All that aside, try doing a professional restoration these days with 5000 manhours common and $80/$100hr trades and the purchase of the vehicle and parts and see how quickly the numbers start to add up. It still doesn't take away from the fact that it was the first 1957 Cadillac. Wish it was mine.
     

[Louis Smith]

       I think some of you guys must be missing the point as to why this car is $pecial. It was the first cab off the rank for 57.. . . and a Biarritz to boot.  Of course that would attract a premium. I know that I was very interested when it was for sale as an unrestored car a few years back  first on ebay and then from a dealer for $75k odd. The free market is the real decider of what something is worth and in this case apparently it is worth quite a bit. So don't bemoan the loss of the hobby of true enthusiasts to dumbed down investors? Heck we don't even know who bought it yet. If you have $590k to buy the Cadillac of my dreams, you must be doing something right.  I envy the barstard. It could be one of us. And really for what it is I can't see the problem with the price for the seller or the buyer.
       $590k is still nothing like a Jackson Pollock or a Monet but probably a lot more satisfying to own if you are in that money league.  Arguing minor details of the restoration and fit and finish are probably irrelevant. Yes , whilst I agree that a couple of gaps could be tightened up or a couple of stickers added or removed it wasn't these factors that attracted the premium ($2grand would fix those problems anyhow and easily rectified). All that aside, try doing a professional restoration these days with 5000 manhours common and $80/$100hr trades and the purchase of the vehicle and parts and see how quickly the numbers start to add up. It still doesn't take away from the fact that it was the first 1957 Cadillac. Wish it was mine.
     

I wish I could afford it    Myself, being a true capitalist, enjoyed and agree with your assessment of the price of this car.  Just one other thing, it is of my opinion, that for most that want to spend the money for an older classic i.e. 50's, 60's,  it is more cost effective to purchase one already restored, and from an owner that has lost interest.  Best case scenario, some poor soul that is going through a divorce, and is forced to sell at a bargain basement price.

[INTMD8]

it is more cost effective to purchase one already restored, and from an owner that has lost interest.  Best case scenario, some poor soul that is going through a divorce, and is forced to sell at a bargain basement price.

Even still, to pull that off you need to have some inside knowledge of a potential deal. Anything nicely restored on the open market is still going to be pricey.

[Louis Smith]

Even still, to pull that off you need to have some inside knowledge of a potential deal. Anything nicely restored on the open market is still going to be pricey.

I didn't say it was going to be easy.   Difficult, Not Impossible, so says Michael Corleone's Rocco, head of security at the Nevada compound.

http://www.youtube.com/watch?v=SnZyIHgM1xY

[INTMD8]

I didn't say it was going to be easy.   Difficult, Not Impossible, so says Michael Corleone's bodyguard Rocco.

http://www.youtube.com/watch?v=SnZyIHgM1xY

Haha, you are right, just takes some patience and a lot of luck.

[52Cadillac]

Luck is when hard work and opportunity come together.

[N Kahn]

Crazy!!!!!

[Louis Smith]

Luck is when hard work and opportunity come together.

Nah, right place at the right time.