Televised Auctions

[Elitemusclecars]

Is it me or have the televised auctions made people think that even a complete pile of junk is worth a ton of gold? Some of the prices people are putting on these old muscle cars that are completely delapidated is rediculous.

[ProdigyCustoms]

Uh, yeah!

[steemin]

You are correct..
There are definitely people out there that have falsely inflated opinions of there cars based on what they have seen in regards to these televised auctions.

IMHO two issues are at play in many of these crazy numbers that auctions bring..
1) Ego's..Need I say more
2) People bidding on their own cars thru a 3rd party.

One must remember that these cars are not an accurate representation of real world pricing.
Often times these cars also have rare pedigrees
or unique histories.
Scott

[Elitemusclecars]

The pedigrees, manhours, and money that goes into a $50,000 plus car is astronomical. I mean really, does the price of the new Shelby stangs make my 2001 gt worth more? I think not. Wake people and quit asking assanine prices for junk. Better yet, quit paying assanine prices for junk.

[ProdigyCustoms]

But most peple cannot differentiate (sp) the pedigree / special cars from the run a the mill cars in their own garage.

[Beegs]

I think to a certain extent the equity people have realised in their homes has made it possible for them to become "playahs". Going out and paying a small fortune for piles that would not have been looked at twice 5 years ago. I am curious to see what happens in '07-'08 when a big chunk of the ARMs are scheduled to be readjusted.

Maybe we will see a "softening" of prices on collector cars in general.
Although the BJackson type stuff will probably continue to roll due to the "ego" thing mentioned above.

I have a NOS quarter panel sitting in SC that I paid a small mint for, makes me scratch my head and wonder. The only reason I scratch my head is because I've heard of others doing that, it didn't seem to help so the other day I scratched harder, still didn't help. I guess I'll keep buying parts and scratching.

[steemin]

I guess I'll keep buying parts and scratching.[/quote]

As long as you are not "scratching your parts"
Scott