GT40 at Barrett Jackson

Ron Earp · 01-24-04, 05:16 PM

A red and gold GT40 just crossed the auction block at Barrett Jackson for only $60,000. Car was a CAV, audi box, roller 302, webers, with halibrand knock offs. Prices sure aren't holding for anyone's GT40 replicas these days so I don't think we'll see one go for $117k like last year!!!! [img]/ubbthreads/images/graemlins/ooo.gif[/img] Good thing most of us are in this hobby for fun and sport, not out to preserve cash or make dough. There are two (??) more coming up, Wayne Presley's is listed and I think one other.

It was funny to hear Pete Brock commentary about replicas since you could take it as slightly negative. Especially funny in light of the hand he has with the recent Superformance Coupe.

John Schneider · 01-24-04, 06:27 PM

Not that the problem doesn't seem to be solve but do you think it is because of all the negative buzz surrounding CAV that has kept the price kind of low?
Barrett Jackson always seems to get enough money for the cars on the block [img]/ubbthreads/images/graemlins/confused.gif[/img]

Jonathan · 01-24-04, 06:40 PM

Anyone know what the 308 to 288 Ferrari GTO conversion sypder sold for? I missed it and the GTO is one of my favorites.

Ron Earp · 01-24-04, 06:41 PM

John, I don't know but I don't think that is it. A GTD isn't made any more but is still a decent GT40 replica. And of course GTDs and CAVs have lots of shared DNA.

Check Club Cobra and Cobra prices are WAAAAY down too. I've seen some Superformance cars, BB and SB, go for $35k (SB) to 42k (BB) which is much less than you can build it for. Some aren't selling at all and there are some nice Cobras out there. Replicas seem to take a beating.

On the other hand, a "New" continuation Shelby GT350 just sold for $165k? if I remember right? That is MUCH more than a real one is worth so go figure. All it is is a resto mod on a 68? (not sure on year) Mustang which are about a dime a dozen here in the South. I suppose what it is worth is what the buyer is willing to pay!

Ron Earp · 01-24-04, 07:18 PM

The Playboy bunny CAV just went across at $90,000. Maybe the first wasn't a CAV? But if not what was it? At any rate this one supposedly had a ZF but it didn't have webers. Wheels were wrong too, not period correct. Don't know why it would net 50% more than the first.

Sorry to be mundane on posts but I just got back from Canada (Canuk40 it was cold!!!) with a HENIOUS flu/cold and am bed ridden.

Jonathan · 01-24-04, 07:20 PM

I agree, the wheels did not do the car justice.

RobBeddington · 01-24-04, 07:25 PM

Ron

Perhaps the auction's waiting on Wayne Presley's car, hence the low price on the first car. But then again I might be wrong.

At the same auction a customised 1955 Chevy Coupe has sold for $210,000, and a customise Lincoln Zephyr Coupe just sold for $400,000. Wow.

I don't think the market's too aware of the CAV situation. Any occasional low prices are probably more down to the time of year and the fact that there are a few more cars coming up for sale, on ebay, at dealerships, THREE at this auction alone, etc. In the UK, sportscars sell better in Spring, whether you can take the roof off or not. And the Ford GT will help the market over the coming year (IMHO).

As for Pete Brock, I think he sees the Coupe as the ultimate development of his own car from the 1960s. I've not known him so enthusiastic about anything as he has been (and still is) about the Coupe. To me, a Brock Coupe has far more appeal than a Factory Five with similar spec, just because of Pete's involvement.

Many people think the same about a South African built Shelby Cobra against a Kirkham, Superformance, or any other Cobra replica. It doesn't matter where it's built. They're buying the name Shelby. I guess that if Eric Broadley was still around and he came up with a GT40 replica, he'd sell a shedload on his reputation alone. And outsiders would probably give it more respect than other comparably built replicas.

As far as Cobra prices are concerned, and whether Shelby's name sells cars or not, the Cobra market in the USA looks pretty swamped these days and they've lost that rarity appeal for those who remember the original. There seems to be a different type of Cobra buyer out there nowadays. The $40,000 aluminium Kirkham has put the cat among the pigeons and the market is demanding lower prices.

All eyes on Wayne Presley's car...

Rob

Ron Earp · 01-24-04, 07:43 PM

Why is the auction waiting on Wayne's car? It is a nice car, but he has offered it for $70,000 (and variations of $74, $72, etc.) numerous times if I'm not mistaken. Yes it appears in a video with Ms. Crow and Mr. DE Jr, but I can't imagine that adding much value. But then again, what do I know, you never can tell with these auctions. At any rate I wish him luck!!!!

RobBeddington · 01-24-04, 08:11 PM

Ron

I guess I'm a sucker for a car with an unusual history, books/films etc.

I'm also a sucker for Cheryl Crow...

Like I said, I may be wrong. But yes, I too wish him luck.

Rob

DaveWharran · 01-24-04, 08:53 PM

Wayne's car just sold for $75K.

Ron Earp · 01-24-04, 09:17 PM

Dang, took a nap there for a bit. Was it on the TV?

Fairly wide spread of prices and to my eye inverted for what I might pay. The weber car was cheap, the car with basic stuff and funny wheels was expensive, and Wayne's car with 8 barrel EFI was somewhat reasonable.

Bob Lacey · 01-24-04, 10:04 PM

The first red car was an early spaceframe in fair condition with a 302/getrag sold for $65k including buyers com.
This car (roller) originally retailed in 2000 for $55k inc trannie.
The second red car is a monocoque with 351/ZF/Holley sold for $97 inc buyers comm .It would have fetched more with the correct wheels on.This car currently retails as a roller for $59900 !
Waynes car went for $81k inc comm he probably had about
$70k in the car.
I would say that is a pretty decent return on investment three years of fun and getting your money back ????
It would have been interesting to see how a kit car such as a RF would have faired as compared to factory built CAV.
Bob Lacey

Ron Earp · 01-24-04, 10:10 PM

Bob, no attack on the CAV in particular but just seemed to me the prices are sort of low and I think it will apply to ANY GT40 hitting auction now. The first one was indeed the bargin of the lot then as they are nicely finished and a small amount of cash would make it the equal of the second GT40 which turned out to be the most expensive one. I know Wayne is a dealer for the EFI systems so doesn't have much tied up in it and got a good price on the car too so I bet he's happy all around! [img]/ubbthreads/images/graemlins/smile.gif[/img]

Are there any more 40s in the auction?

jimbo · 01-24-04, 10:16 PM

Vintage GT40 1059, clearly in average shape and with no competition history whatever sold for I think about 350K$ within the last few weeks. And that Mark III that used to belong to Von Karajan just sold AGAIN; it must me the most sold GT40 in recent years. What sets these cars apart- and depresses their value- is that they are not quite old enough for vintage FIA racing in Europe, as I understand it. Finding one that is that old adds to its value considerably.
This is slightly off the thread but I thought it was interesting.

Mike Dozier · 01-24-04, 11:49 PM

Bob

The buyer's commission goes to BJ...and the seller also
pays a commission to BJ. So Wayne sold his car for about the same $ 70k he was offered on E-bay a year ago.
Still...as you say...he got a lot of enjoyment
out of it. Moral is...replicas are not good investments.
Buy/build them for the pleasure...if you make a few bucks
when you sell it, that's just a bonus.

What shocked me is the amount paid for some "restomods"
...like the 1955 Chevy hardtop for $ 200k...the Mustang
350 SR Ron mentioned for $ 160k, and or course $ 400k for the Lincoln V-12 Zephyr among others.
I was also sad to see some of the crazy prices paid
for musclecars...Hemis and 427 Vettes , which I owned
several in my younger days, are now a hopeless dream.

What cracks me up is how Brock Yates and the other talking heads on Speedvision claimed nearly all cars sold were
"good drivers". You gotta be kinding me! My guess is that
half of those sold will never see the light of day again.
Into the garage as a "trophy" to show friends, until
they tire of them and then on to E-bay or auction.

Oh well, makes for good entertainment!

MikeD

Hershal Byrd · 01-25-04, 12:00 AM

Bob,
Wayne's car sold for 75K on the floor. As I see it he pays a commision of 8% on that which is about $6000 so my math says he got $69K for his car. Still not bad after almost three years of use.

Hersh [img]/ubbthreads/images/graemlins/smile.gif[/img]

Bob Lacey · 01-25-04, 12:58 AM

You can look at the auction numbers either way _ including comm is what a buyer is willing to pay - excluding comm is what the seller netts , I believe it shows that a good GT40 replica holds up pretty well,certainly better than most Cobras.
Bob

segdub · 01-25-04, 01:20 AM

A dumb question. so I deleted it.
Steve

Robert Logan · 01-25-04, 04:16 AM

Bob,

Your comments about MY cars could be taken in many ways and as I am a reasonable man I will take it as a ponderance rather than a snipe at my GT40's.

As a retort and also as a ponderance the ONLY time Waynes and one of my cars have ever shared the same arena (Knotts last year) our DRIVEN car WON and a show pony came second.

Please do not get a 'toot' about this mate it is only a jibe. Hershal and I look forward to seeing your cars again this year and please have a look at Chuck 's car on display. This is a FACTORY built car !!!! not a KIT CAR !!!!

Best wishes,

Robert

Ron Earp · 01-25-04, 05:11 AM

Bob,

I agree that the value is better than most other toys you can buy, you are right about that. Heck, if I bought a new Corvette or M3, well, you know what they are worth after 3 or 4 years of use. These GT40s that are sold even in 2000 are worth essentially (plus or minus a little, an auction is NOT the best place to sell them) what was paid for the car. So maybe my initial low price assesment isn't really low after all.

I still think the first one was a bargin though as it had the right GT40 bits for not much money. I didn't like the color, but that can be fixed without too much trouble. Good thing I am sick and bed ridden, might have gotten in trouble with the wife in AZ!!!