Z's on BAT and other places collection

[Racer X]

3 hours ago, Zed Head said:

This one is up today.  Sitting at $68,000 with three plus hours left.

Sold at $68,000 even.

[Zed Head]

There's something fishy about that sale.  Somebody artificially supporting the "value" I think.  It sold for the same number back in 2019.  Looks like a collector maybe inflating asset values.  Might even be illegal, I don't know.  Just talking, no offense intended. There's no logical reason to bump a bid by $20,750 when a typical bump is in the single digit thousands.

https://bringatrailer.com/listing/1970-datsun-240z-36/

[Patcon]

$68 seems like a really good price for a sub 1000# car in pretty good shape. Could be some unknowns going on behind the scenes like Zed said

[Patcon]

Nice Goon! I could do without the slammed bags look; it would be nice to find a limited slip diff like that though!

[26th-Z]

The explanation for the bid bump was that the 'value' of the car MUST be at least what it sold for previously, and thus, the $68,000 bid.  The bid strategy was successful which leads me to believe that the 'value' wasn't necessarily what it sold for previously.  But that's auctions.

The comments during this auction 'from the peanut gallery' are simply typical of the stuff I read on BaT concerning Datsun Z cars.  I'm constantly amazed by some of the things I read including the dressing down of people who challenge the 'experts'.  The latest being about the "highest value in the world" comment by Bill himself.  BaT is proving (to me) to be the disinformation yellow press of our times.

So I watch, I laugh, I'm entertained and amazed at how naive some of these people are.  And how passionately they argue their misguided position!

[CW240Z72]

$68K Seems fishy but fair for #842. Looks like at one time it was a grade 2 level of restoration, and now a high 3 since completion and multiple owner changes. Being that almost nothing changed from the recent sale of $68K, the market defined this Z's value and no one was willing to budge. 

It looks like a good starting point for someone to take on and really make it a nice example. Quite a few period correct items missing or replaced with incorrect parts. The repeating paint quality issues noted in the comments wouldn't be very hard to alleviate. All in all, on paper it could be made into a six figure car. 

Some folks were projecting the Z market is flattening out in resale values. From recent BaT transactions it appears we're having a flood of grade 3-4 cars in the market, none of much excitement like the Franklin Mint or $310K Green Monster Z. I hope they're wrong, and folks are just holding out for those concours level Zs. Helps keep up the motivation to complete my own cars. 

[HS30-H]

21 minutes ago, 26th-Z said:

The comments during this auction 'from the peanut gallery' are simply typical of the stuff I read on BaT concerning Datsun Z cars.  I'm constantly amazed by some of the things I read including the dressing down of people who challenge the 'experts'.  The latest being about the "highest value in the world" comment by Bill himself.  BaT is proving (to me) to be the disinformation yellow press of our times.

So I watch, I laugh, I'm entertained and amazed at how naive some of these people are.  And how passionately they argue their misguided position!

Indeed. Bill Reagan (bless his heart) made some pretty silly claims about "World Record" prices which made me think of 'World Series' baseball, and now somebody is defending it as though it is indisputable fact and/or impudent and insolent to question it in any way, shape or form. Strange hill to die on.

Texas World Record, maybe?

[Zed Head]

20 minutes ago, CW240Z72 said:

the market defined this Z's value and no one was willing to budge. 

I don't think that one person makes a market.  He went up $20,750 in one step and nobody even tried to add $100 to his perceived value.  He picked up a number that felt "right" to him.  But, if he has the money that's his prerogative.

[zed2]

It is quite fascinating that someone would bid on a vehicle based on photos and seller‘s description.  There is no substitute to actual in-person assessment by someone knowledgeable about body work, paint and mechanical operation. This examination can turn a potential disastrous purchase into a real pleasure. My estimation is a flipper of vehicles does not care, as they are concerned with turning a quick profit on “business” inventory.  An enthusiast may very well relish the process of vehicle acquisition and ownership.

Pressing a “Bid” button does not necessarily represent passion for a specific vehicle, only the financial wherewithal to trade money for metal.

Keith

Edited October 7, 2021 by zed2

[CW240Z72]

12 minutes ago, Zed Head said:

I don't think that one person makes a market.  He went up $20,750 in one step and nobody even tried to add $100 to his perceived value.  He picked up a number that felt "right" to him.  But, if he has the money that's his prerogative.

That was where I was going. The previous auction set the bar for what this car was/is worth. Essentially having the car sit for 30 months with minimal use/work done wasn't enough for people to see any value added today. 

I personally despise seeing dealers horse trading cars in an effort to make a quick buck. But, to each their own. I would bet had this been the first time the car publicly was auctioned off it would have touched the $85K range some believed it to be worth. 

[Zed Head]

I wonder what the story is behind ThreePedalCollective?  The buyer back in 2019.  Has not commented since last October.  Bought quite a few cars in just a couple of years on BAT.  Why sell the Z that was recently bought, with no reserve price set?  Maybe ThreePedal decided this one was a poor investment and wanted to cash out.  There would probably be some nervous Z owners out there if it had sold at less than $68,000.  Investments are "supposed" to continuously increase in value.

https://bringatrailer.com/member/threepedalcollective/

 

[zspert]

26th-z- amen!