Went to the Barrett-Jackson Auction today !!!!! 72 240Z up for bids !!!!

[280z1975]

Interesting. Sounds like the auction is definitely the place to sell and not to buy. Too much dumb money floating around. ... snip ...

I agree that the B-J auciton might be the best for someone who is selling thier car for profit, but the Z car might not fetch the best price with the crowd there, but then again the crowd does have some money to burn is sounds like.

The only thing I hope is the new owner, who was quoted as saying "he had some money to burn", appreciates the Z car. Maybe we should invite him out to a track day with the local Z club and show him what the Z car is really all about. It's time to convert the masses to the Z car way one at a time

[Unkle]

I admit I like watching this show. Hey Montoya , are you sure there's a

'' no reserve '' on these cars ? I've seen the bidding come close to reserve,

and the owners remove it to sell . Imagine starting a '60's Kentucky Special

Corvette at no reserve , or any one of Reggie Jackson's cars with no reserve !

Yeah , it's all glitz and booze and money , kind of like a fancy car wreck- you just gotta watch ! I like the English guy's preamble on the Italian cars , those beautiful Ferraries and such .... , and I especially love the sound some of these machines make - the whole crowd there shuts up and listens !

[SJGREEN71]

AWC,

The younger half of the Baby Boomers (born 1957-64 or in their forties) and the older Generation X buyers (in their thirties) who have owned Japanese cars or currently own Japanese cars will become come to the forefront as the older buyers start to fade. Once this starts to happen, you will see more 240Zs at BJ.

I think the guys who are buying the American muscle cars at high prices are just buying the cars they longed for in high school. If that is the case, the Z car is just coming into it's sweet spot for potential appreciation. If you think back a couple of years, I think most people on this list would have been surprised if this BJ Z had sold for over $5,000 (not over $10,000).

The other factor at play, is that some people are looking at an affordable classic as an investment. Many are still afraid of the stock market after the dot com bubble burst. Real estate appreciation is pretty much played out. High inflation is a very real possibility in the near future. When inflation is high investors flock to hard assets. Collector cars do well in this environment.

So the only question that remains is how can I add a few Z cars to my 401K plan?

[montoya_fan01]

I admit I like watching this show. Hey Montoya , are you sure there's a

'' no reserve '' on these cars ? I've seen the bidding come close to reserve,

and the owners remove it to sell .

I love watching the Scottsdale B-J event in Jan, but somehow the one in FL doesn't interest me as much.

The last 2 B-J's (2005 and 2006) at Scottsdale were definitely all "no reserve", and though I didn't watch the Palm Beach auction this year, I could have sworn that it was also to be a no reserve event. With so many people interested in selling through them, B-J has become quite picky about which cars they accept, and were insisting on no reserve status. I'll see if I can find out for sure if the current auction falls into this catagory.

Here ya go:

"PALM BEACH, Fla., January 17, 2006 – Spectacular cars and sizzling celebrities will once again take center stage at the South Florida Expo Center as the Fourth Annual Barrett-Jackson Collector Car Event rolls into West Palm Beach from March 29 – April 1, 2006. The world-famous event will kick off on Wednesday, March 29, with the highly anticipated Opening Night Gala from 7:30 p.m. to 10:30 p.m. EST. Three straight days of “no reserve” auction excitement will begin on Thursday, March 30 and continue through Saturday, April 1, with all three days once again being broadcast by the SPEED Channel.

http://www.barrett-jackson.com/events/florida/default.asp

[Unkle]

Wierd ! I guess the last few Scottsdale auctions had

the reserve option - probably a thing of the past now . I definately remember seeing them remove ''reserve'' on a few cars to sell them !

[kinfish]

Responding to Unkle's comment about "no reserve".

Many of the sellers with high end restorations and lots of bucks involved protect their investments by buying back their car if bidding is not high enough in the "no reserve" auction. Costs them $500 + 8% + 8% but is better than taking a big loss if bids are less than their target price.

[montoya_fan01]

Responding to Unkle's comment about "no reserve".

Many of the sellers with high end restorations and lots of bucks involved protect their investments by buying back their car if bidding is not high enough in the "no reserve" auction. Costs them $500 + 8% + 8% but is better than taking a big loss if bids are less than their target price.

Yeah, they can do that. I wish they could stop even that. IMO that isn't fair to the bidders, it ought to cost the seller a few bucks to wimp out on selling. If the auction is specified as no reserve don't consign your car unless you have the cojones to follow through.

If I was attending with the intent to buy a specific car and the seller wimped out I'd be more than a bit pissed.