Tom and I have been to five auctions in the last day here at Scottsdale. As usual, a lot to see. While there are seemingly millions of bubbas fighting to over pay for American muscle, We have seen seemingly nice British cars like TR6s sell for $10,000-14,000, MG T Series cars, including a TF, sell for less than $25,000 and a nice looking TR-8 sell for $14,000. Nice looking Jaguar XK-8s are less than $10,000.
I have been to few actions none of the big ones like Barrett Jackson or Mecum. I do like to watch some of the actions on TV mainly to see what people have done with cars. However, to me its very apparent the pricing at Barrett Jackson or Mecum is usually very inflated rather it be a sports car, muscle car, antique or custom car. I suspect Barrett Jackson or Mecum is the place to be seen, brag about buying a car there or the idea of mingling with the rich and famous. It appears to be a place where a bunch of rich guys try to impress each other or screw each other and pay a lot more for the cars then they would elsewhere. However, it is nice that a lot of these rich guys bring there daughters or grand daughters for a nice evening at the action!
It looks like many of the cars sold for realistic prices this year. Bad news if you are a speculator, good news if you are looking to buy the classic car of your dreams!
I think we all can admit that the market is fickle. It does seem annoying to me that the market will spend $100k for an American car that might have been worth $1500 in its day yet almost completely ignore one of the Little British Cars. But I guess we have to consider where we are, in America. The American Muscle cars are what most Americans can relate too and they were relatively well built from the beginning. But the market will show its deals. I have American Muscle and British Sports so I'll take the deals where I can fine them. One side note, even though Barrett Jackson generally focuses on American Muscle, I wonder if this yr and maybe some recent past years, people are focusing on American Muscle with a little bit of patriotism as a motivator.
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