1970 Franklin Mint 240Z up for Auction on BaT

[zspert]

jason240z, excellent observation! 

[Jason240z]

8 hours ago, Patcon said:

I am not sure it is a "complete random blip". Will be interesting to watch future high value cars. By the time I get my car done and running it will be too valuable to drive!

All the sold prices point towards it being so. The fact that its just a regular model at over twice the normal sale price for such a car.  It wasn't even a factory correct version.  Someone paid for it by bidding with Ego, only the seller won there.

[zspert]

Thank you Kats. You are very kind

[rturbo 930]

6 hours ago, Jason240z said:

All the sold prices point towards it being so. The fact that its just a regular model at over twice the normal sale price for such a car.  It wasn't even a factory correct version.  Someone paid for it by bidding with Ego, only the seller won there.

Yeah, I don't really know anything about the car, it looks very nice, but it seems to me that the price was driven largely by hype, and people fawning over how amazing it is. It's like they want the car to be more special than it actually is. It's a nice car, but the big deal seems to be that it was used to create a model 240Z (hence why they're calling it the Franklin Mint car), and that just isn't a big deal. 

[motorman7]

Technically, this is just one of a number of 'Blips' in the Z car world.  While this is double what might be considered by Hagerty a 'Concours' level car, it's rarity is what makes it valuable.  This pretty much goes with anything in a free market economy.  Other Z car  'Blips' in the $100K range would be any of the gold medallion cars, the VZ cars, Very low S/N cars and low mileage original unrestored cars.  These cars are going off in the $100K range RIGHT NOW, they are just not as publicized as this one.  Yes, this is a minority of the Z car population, but it is reality.  Yes, the average price of a very nice condition restored Z is going to be in the $30-60K range, but the cream of the crop are commanding top dollar and truly worth what the market will pay.  Unfortunately, most of us are not in that market.

Edited June 7, 2019 by motorman7

[Mike]

Final sale price = $124,240 - amazing!

[AK260]

I am not sure it is a "complete random blip". Will be interesting to watch future high value cars. By the time I get my car done and running it will be too valuable to drive!

This is what upsets me - I bought the Z as a hero halo car I can drive hard and enjoy, not as an asset that I worry about breaking.

But having the “inferior” 260z I doubt I need to worry too much :p

[Mike]

Just now, AK260 said:

This is what upsets me - I bought the Z as a hero halo car I can drive hard and enjoy, not as an asset that I worry about breaking.

But having the “inferior” 260z I doubt I need to worry too much ?

 

I have a feeling more people are going to keep their car stock, So they can resell them later at a higher price.  As far as the 260z value is concerned, Just give it time

[Patcon]

8 minutes ago, AK260 said:

 

This is what upsets me - I bought the Z as a hero halo car I can drive hard and enjoy, not as an asset that I worry about breaking.

But having the “inferior” 260z I doubt I need to worry too much ?

I get it and have started browsing for a 260 or 280z that I could run and modify, but I agree with Mike. It's only a matter of time for the 260 & 280 start appreciating in this manner.

[26th-Z]

rturbo 930,

Well, it IS a big deal.  Its a Gold Medallion car, the car used for Mr. K's induction into the Hall of Fame, restored by the guy who wrote the book, detailed by a leading authority, and campaigned heavily.  It will forever be the Franklin Mint car and will draw a crowd at car shows.  Its called provenance.  I personally share your thoughts, but the provenance thing is ruling (like the idea of value for a car Steve McQueen once drove).

 

[psdenno]

34 minutes ago, 26th-Z said:

Its called provenance.  I personally share your thoughts, but the provenance thing is ruling (like the idea of value for a car Steve McQueen once drove).

 

As people on this forum have said for years, "Save your receipts, your owners manual, your window sticker, your original bill of sale, anything that documents the history of the car or makes it a little more special than the rest." as it will add to the luster when it comes time to sell.  That all worked for the BaT seller.

 I don't have much from my Z other than the original bill of sale.  But, for my Porsche 914-6, I have documents from the original, and subsequent, owners as well as an accordion folder full of restoration receipts.  All good to have for the next owner.  With the Avanti, I have a copy of the original factory production order as well as the six page final assembly line inspection checklist.  Best of all, I have hand written letters from the designer, Raymond Loewy, noting the Avanti's VIN.  Provenance should probably be spelled Provenan$e.

Dennis

[gogriz91]

I got the privilege of meeting Bill Reagan after he did this restoration and when the green 240Z he restored was sitting in his garage. I would say this car is well worth what was paid for it and its value will only increase provided it is cared for.  It isn't a low VIN chassis but the quality of his work, the documentation he could reconstitute on the car's history plus his own of his restoration adds an enormous amount of the value.  He was rewarded for his efforts from the recognition that came from Mr K, Gold Medallion, Franklin mint etc.  I hope the car is entered in to more events and recognized even more for the condition it is in and the quality restoration that was done.  If there is one that is in equal or better condition, it has yet to be unearthed so this is a worthy "blip" for what it is and what others aren't.

BTW  The green car he restored sold in April for almost $70K  but didn't appear to have been cared for as well nor did it have the recognition, I hope it gets shown at prestigious events because it too is an exceptional build. https://bringatrailer.com/listing/1970-datsun-240z-36/