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Auction for my 72 240z

718Miata
718Miata
in Open Discussions

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comment_588941

Question for the collective... So what was the deal with this car? He bought it at Mecum for 12.5K (plus buyers premium) in April and everyone went nuts for the car saying "He stole it at that price" and he could instantly flip it and make $$thousands$$:
https://www.classiczcars.com/forums/topic/62036-my-mecum-purchase-1972-240z/

He put about $4K into it:
https://www.classiczcars.com/forums/topic/62036-my-mecum-purchase-1972-240z/?do=findComment&comment=577203

And then started trying to sell it in July. Didn't sell for 25.5K:
https://www.classiczcars.com/forums/topic/62553-saturday-houston-auction-of-my-1972-240z/

Didn't sell for 23.9K and didn't sell for 19.9K:
https://www.classiczcars.com/forums/topic/62704-for-sale-1972-datsun-240z-23900-or-best-offer/

And then in the end, it finally sold for 15K plus commission:
https://www.classiczcars.com/forums/topic/63201-auction-for-my-72-240z/?do=findComment&comment=588925

So I've passed on a couple 240's because I wasn't sure I could get my money back and ended up kicking myself a little later because they sold later for a good profit. But then this example comes along and that does not happen.

Anyone have any insights as to why? Is it just a fickle market?

    • Like 2
    comment_588944
    1 hour ago, Captain Obvious said:

    Question for the collective... So what was the deal with this car? He bought it at Mecum for 12.5K (plus buyers premium) in April and everyone went nuts for the car saying "He stole it at that price" and he could instantly flip it and make $$thousands$$:
    https://www.classiczcars.com/forums/topic/62036-my-mecum-purchase-1972-240z/

    He put about $4K into it:
    https://www.classiczcars.com/forums/topic/62036-my-mecum-purchase-1972-240z/?do=findComment&comment=577203

    And then started trying to sell it in July. Didn't sell for 25.5K:
    https://www.classiczcars.com/forums/topic/62553-saturday-houston-auction-of-my-1972-240z/

    Didn't sell for 23.9K and didn't sell for 19.9K:
    https://www.classiczcars.com/forums/topic/62704-for-sale-1972-datsun-240z-23900-or-best-offer/

    And then in the end, it finally sold for 15K plus commission:
    https://www.classiczcars.com/forums/topic/63201-auction-for-my-72-240z/?do=findComment&comment=588925

    So I've passed on a couple 240's because I wasn't sure I could get my money back and ended up kicking myself a little later because they sold later for a good profit. But then this example comes along and that does not happen.

    Anyone have any insights as to why? Is it just a fickle market?

    As they say: "Enquiring Minds Want to Know..."

    • Author
    comment_588951

    My guess is that the market has cooled down after some 240 Guild cars reached crazy prices on BaT. Also, my car was not entirely original. It also wasn’t perfect, as I learned. 
     

    SZR ultimately refunded $2000 due to my unhappiness with their work. So my total pre-tax baseline in the car was $15667.83. The buyer paid over $18,000 when one includes commission. So the car was still well-bought at Mecum after everything. 
     

    That being said, I learned a lot about my limitations from the experience. And I’m still happy I got to experience the car for 8 months. 

    • Like 2
    comment_588953
    19 minutes ago, 718Miata said:

     

    That being said, I learned a lot about my limitations from the experience. And I’m still happy I got to experience the car for 8 months. 

    So, all good!  What's the next adventure?

    Dennis

     

     

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