Check out that traditionally GM rag, "Hotrod" this month. About a year ago I read a story about a guy who was arranging to buy a Hemi 'Cuda out of France. The car had actually been built and shipped to France in 1971. At the time I read the story, the fellow had apparently paid $700,000 pounds (Brit) for the car. Now I hear it's worth $5,000,000. In addition this same fellow just sold a convertible Hemi 'Cuda (a lesser example) for $3,000,000. Truly amazing. In addition, the owner of Barrett Jackson has a Hemi 'Cuda that was originally given as a gift to the head of British Rail, who somehow blew the engine a week after he bought it. Jackson bought the car and spent three years looking for the original engine, and he found it, packed in a crate somewhere in British Rail. This car could be worth $3-$4m itself.
What is truly amazing is that anyone thinks these cars are worth anything even remotely near these prices. Lop off two zeros and maybe, maybe it would be worth it. Because even with say a $100K price, what would the average, or above average, Joe do with one of these cars? Is he really going to rack up any real mileage behind the wheel? Is he going to be able to actually enjoy it? Doubt it on both counts. Any amount of wear and tear and mileage would cut its value quick! So in the end he'd end up buying it, sticking it in a garage, and staring at it. I say he'd be better off getting a poster of a Hemi 'Cuda, and spend his money on a performance car he can actually drive.
Only the wealthy ones, like Leno, put miles on such cars. He drives one of his about every day. Just saw a special on a guy who collects very special planes. He buys 'em and flys 'em.
That's why I'd rather have a daily driver. I'm not >RichA wrote:
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1965 Ford Mustang fastback 2+2 A Code 289 C4 Trac-Lok Vintage Burgundy w/Black Standard Interior Vintage 40 Wheels 16X8" w/BF Goodrich Comp T/A Radial 225/50ZR16
Most of the ones you hear about are driven, the owners do like to do that and of neccessity, they are all rich now, unless you happen to have bought one back in the early 1990s.
Spike, I understand and fully commend that. It's just these guys throwing out huge money to buy "investment cars" are driving many like you out of the market. And that's sad in my book.
The other thing that gets me is that the nuts and bolts of these cars are not worth the prices they're paying for them. They were just mass-produced factory-built cars that were meant to be driven... not hand-built, hand-fabricated, pieces of art.
Agreed. Pretty much totally. That's what I meant about some inference that B-J pushes the prices up and they go way beyond what they should be.
Of course, that's also "supply and demand". I do agree with B-J that the buyers today are a new breed and they are going after cars they were raised wit; parent, brother, sister, friend had one that they always wanted and couldn't get. Now, they have made money on stocks, or housing, or employment and can afford the cars. It's nostalgia, and they are willing to pay for it.
As for those "works of art"... yes, they are, and yet, when they were hand built for individual customers or companies, they were meant to be mobile works of art. Many or the coach cars, like Dusenberg, or Rolls were built for people to show off on the road, and they did.
And, compared to today's robot built vehicles, that generally seem to have come out of the same mold, the cars of the 50s and 60s, and some
70s were essentially hand built and had character.... some far better than others. : )... even if at the time they were built to be some secretary's car.
Yes, I hate the idea that the average guy/gal who wants one is being priced out by those with the bucks, which doesn't seem fair. But, the collectors who went before... the ones who collected Dusenbergs, and Avantis and all the rest, did pretty much the same in their day.
I'm also against seeing our classics bought up by foreigners, and hauled out of the country. Then I think... many Brits probably felt the same about Americans buying London Bridge, etc.
One nice thing I've noticed is that there are still a large number of cars out there that the average buyer can afford. Some are more available than others. I turned down a great 'cuda (ala Nash Bridges) original owner, extremely low miles, and cheap price. Needed the paint and upholstery freshened, but no rust, etc (California car with original plates), because I was searching for nostalgia of my younger days in a 65 Mustang FB.
So, what is anybody to do? You can't change what is. And the cars are worth whatever you can get somebody to pay. I've told a lot of people that what I put into a car makes no difference. If I sell, the only thing that will matter is the highest price I can get someone to pay.... and that may mean a big loss for me. Hey! Spikey Likes IT!
1965 Ford Mustang fastback 2+2 A Code 289 C4 Trac-Lok Vintage Burgundy w/Black Standard Interior Vintage 40 Wheels 16X8" w/BF Goodrich Comp T/A Radial 225/50ZR16
Well, as the story pointed out, there are only 11 '71 Hemi Cuda 4-spd verts, and a lot more than 11 guys who want one.
As I recall the Hot Rod story, there really is no $5 million Cuda. The story is that the guy bought one for $2 million and someone offered him $5 million and he refused. I have no reason to doubt the guy's word, but the fact is that the "buyer" never actually reached the moment of truth. The same guy who owns the "$5 million" also actually paid $3 million for his other '71 Hemi Cuda vert. So there really is a $3 million Plymouth.
The one that kills me, that you might have seen in the latest Hemmings Muscle Machines, is the, iirc, '71 Barracuda vert that had been CLONED into a 440-6v, going for more than $120,000. Hemi clones also sell for that kind of dough, and higher. Now that's stupid money.
Amen, brother. Same same here. 'cept I am restomodding to get some modern tech into my old baby. I'll be posting a link w/in the week or so. Stay tuned. 8)
For safety and comfort I've added 3 point seatbelts, the seats will be changed out for much later model, original disc brakes replaced with updated power disc brakes, electronic ignitions system, trak loc rear,
16 in wheels, front suspension rebuilt using poly instead of rubber.,
16:1 steering box from Flaming River, tinted glass, looking for a C4 to AOD/AODE swap, halogen headlamps, LED turns, brake and backups..... etc.... and a nice audio-video system. Oh, forgot the intermittent wiper system, polished aluminum overflow tank to make it pretty much a closed system, better cam, HD "desert" radiator. Essentially, it looks stock but with improvements. I'll have it at the Reno Restomod meet next Memorial Day weekend.
Hey! Spikey Likes IT!
1965 Ford Mustang fastback 2+2 A Code 289 C4 Trac-Lok Vintage Burgundy w/Black Standard Interior Vintage 40 Wheels 16X8" w/BF Goodrich Comp T/A Radial 225/50ZR16
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