Gorgeous 74 GTO

eeluddy · Uber Guru

Gorgeous 74 GTO

4SPEED427 · A Poncho Legend!

Beautiful car. Unfortunately, I suspect that in today's market it may be overpriced. A year ago maybe, but not likely now.

I hope the seller (if he sees this) is not offended by what I'm saying but the reality seems to be it's a great time to buy right now, but not a great time to sell.

Astro Jet · Poncho Master!

I agree, I don't think he will be able to get any where close to that in today's market, it's just dried up. At the Toronto auction a couple of weeks ago, I don't think even 25% of the cars sold, and the majority that did were at the lower end of the price scale (fixer uppers). I wonder why if he has owned it for 25 years, it has relatively new license plates?

eeluddy · Uber Guru

It really is a tough market for selling. Even the lower priced cars aren't moving according to a lot of people in the business. A good time to buy, as more and more old cars are being dragged out of barns and put on the block.

455gto · Poncho Master!

I guess I'm not a CAR collector?? The car is nice, but not on most collectors Top Ten list.
Maybe he is going from that NADA list like this guy in B.C. with a 71 GTO for $29,999. This car has been for sale for over a year on Ebay,Kijiji and Craigslist.

eeluddy · Uber Guru

455gto wrote:
I guess I'm not a CAR collector?? The car is nice, but not on most collectors Top Ten list.
Maybe he is going from that NADA list like this guy in B.C. with a 71 GTO for $29,999. This car has been for sale for over a year on Ebay,Kijiji and Craigslist.
There seems to be a lot of guys not in touch with the real market value of their cars today. A 79 TransAm i looked at in the fall the owner had an apprasial done for $12500 by someone I suspect was a friend of the seller. He was certain the car was worth that, truth is it's a $6-7000 car at best. It wouldn't even bring that right now.

455gto · Poncho Master!

Yeah....I don't know what these guys are thinking either. Maybe the wife told them to sell and they just tell the wife it isn't selling.I was talking to my buddy that has two 74 GTO's and he said that guy is lucky to get $15,000 in this market.

Astro Jet · Poncho Master!

I think it is just like house values, everything is dropping like a stone right now. I just got my assessment for municipal tax and my house's value has allegedly gone up $90,000 over the last three years - well, what has it done in the last 3 months? You can bet I'm going to be fighting it. Car appraisals are even more volitile, they are very much based on the market at the moment. I think the collector car market is going to be in the tank for at least a good year. It will be very interesting to watch what happens at Barrett-Jackson this year. Prices were already down last year, this year I think they will crash and a lot of potential sellers will not even bother bringing their vehicles to the auction this year.

427carl · A Poncho Legend!

Astro Jet wrote:

I think it is just like house values, everything is dropping like a stone right now. I just got my assessment for municipal tax and my house's value has allegedly gone up $90,000 over the last three years - well, what has it done in the last 3 months? You can bet I'm going to be fighting it. Car appraisals are even more volitile, they are very much based on the market at the moment. I think the collector car market is going to be in the tank for at least a good year. It will be very interesting to watch what happens at Barrett-Jackson this year. Prices were already down last year, this year I think they will crash and a lot of potential sellers will not even bother bringing their vehicles to the auction this year.

Good reminder to watch B.J. Bet there will be a lot of entry level cars..

455gto · Poncho Master!

Guys would have to have a screw loose to put there car into B&J auction at no reserve. Those days might be over for B&J and go back to a reserve on cars.

eeluddy · Uber Guru

I think they will have a reserve on a lot of cars this year, or schill bidders. Opps!! I know they don't do that at auctions anymore.