In a message dated 12/16/2005 5:31:28 PM Eastern Standard Time, jonlee@wt.net writes: Ron: I want to add to your thought. I have been watching the dealer/locator guys and they fuel some of the price increase dramatically. They are not the only ones...but they are part of it. Example, I know one dealer who is hunting 65- 350 cars like crazy ever since that 65 350 #18 got auctioned off above 300k. They would hunt a 65-350 for 150-200k driver quality with rust and would resell it at 225-250k along with some touch up work. Word breaks out that Joe Blow got his car sold for 175k driver quality and everyone who owns a 65 thinks their car is worth equal or more. In addition, people now think 65-350 cars are the ones to have and so the hunt is on to find one. If you step back and break this process down, you can see how everyone contributes to the price increase slowly or rapidly. Its a vicious cycle that won't stop until something drastic happens like real estate went crashing, or another terrible event like 9-11 day. Even if it stopped, it somehow picks itself back up and starts cycling again. I remember when this local Mustang dealer in Houston told me I was nuts for paying good money for 2 67-500s years ago. I bought them regardless if he was right or not because each car had a purpose for me like one for fun, and the other for restoration guide to my early 67-350 (In this aspect Bob Perkins was the one who explained to me that you have to have a good car to make good restoration easier). Anyway, I specifically remembered how this Mustang guy told me he was in this Shelby longer than I was and that I was stupid for buying them at that price and that the market will fall just like it did in the late 80s. I ignored him and just went along with what I believed was right for me. Bottom line is you have to believe in yourself about your car or you will always have doubts in the back of your mind and others will make you change your mind faster than the market will turn on itself. just my 2 cents. jon Quoting Ronald Robertson <ronald.robertson@sympatico.ca>: - Greg: - Just an observation, but perhaps reality has hit the Shelby market. - I wonder if collectors were not simply swapping mega $$$ for Shelbys to - other collectors (like the late 80's) and they realized that it was they who - were driving the prices up, to levels that the ordinary Shelby buyer simply - could not afford. - One has to wonder if ole Shel's recent antics sort of turn some folk off as - well. - Just a thought. - Ron - - ----- Original Message ----- - From: "g adams" <mrgt350@yahoo.com> - To: <shelbymustang@carmemories.com> - Sent: Friday, December 16, 2005 11:36 AM - Subject: Shelby e-bay auctions - - - >I have been watching Beckers auctions for the 67 GT500 - > (2nd time) and the 69 GT500 convert. (3rd time). - > - > Seems that bids are not quite as active nor as high as - > previously was previously. - > - > The convert previously had a reserve of $225K and this - > time the reserve was hit at $181k. - > - > Auctions look like bids may have been retracted or - > rejected as the bids actually decreased from the high - > point. - > - > Whats going on? - > - > Greg - > - > - > - > __________________________________________________ - > Do You Yahoo!? - > Tired of spam? Yahoo! Mail has the best spam protection around - > http://mail.yahoo.com - > - - - Gang, I bought my two GT500's in the late 1990's, when there was considerable variation in price from one market to another, a situation that, scams or no, seems to have been made more efficient with the advent of eBay. The '67 was regarded as a bargain in 1998 (and indeed it was), as it was an orphan at a Florida auction, brought by a Lincoln dealer who had received it in trade on a Navigator from the guy who had bought it at B-J two years before. However, the review that SCM wrote on my purchase of the '68 convertible in 1999 said that I'd essentially overpaid and that a few miles on the car would drop the value by $15,000! It didn't. So, am I happy about being about $180k ahead on the two cars? Not really- as both my wife and my mechanic have said, I'd just go out and find another pair and pay dearly for them, so why not keep what I have? Other than a few concours queens, my two stack up pretty well, and I'm in this to drive, not as an investment and am happy to be about even in the hobby over the years- if you conclude from this that I have a few that have been spectacular flops financially, you're right! I get in trouble when I decide to build a car "just the way I want it" like the '59 Skyliner restomod that's worth less than half of what I have in it, and then there's the Phantom III Rolls-Royce, a lovely money pit if there ever was one. I guess my point is that this is a hobby for most of us, and all lower prices might mean is that more enthusiasts will be able to afford these wonderful cars. That's not a bad idea- every market has corrections now and then, and if that's what this is, so be it. I think the overall trend will be up in the long term, no matter what. Cheers, Mike Heroy CSX4045 67 GT500 #841 68 GT500 #389 85 SVO
Mike, You are absolutely right. I have friends that spend $25,000-$50,000 annually to play golf. They fly to Ireland to play, they fly to California, etc. Heck, it's their money and they have a wnoderful time with great memories. I'd rather buy another Shelby, Viper, or Corvette every couple of years. But it's my hobby just like golfing is theirs or traveling the world or buying/riding horses. It's what you love. To each his own I say. Merry Christmas, Joe Bright. ----- Original Message ----- From: MHeroy@aol.com To: shelbymustang@carmemories.com Sent: Friday, December 16, 2005 11:37 PM Subject: Re: Shelby e-bay auctions In a message dated 12/16/2005 5:31:28 PM Eastern Standard Time, jonlee@wt.net writes: Ron: I want to add to your thought. I have been watching the dealer/locator guys and they fuel some of the price increase dramatically. They are not the only ones...but they are part of it. Example, I know one dealer who is hunting 65- 350 cars like crazy ever since that 65 350 #18 got auctioned off above 300k. They would hunt a 65-350 for 150-200k driver quality with rust and would resell it at 225-250k along with some touch up work. Word breaks out that Joe Blow got his car sold for 175k driver quality and everyone who owns a 65 thinks their car is worth equal or more. In addition, people now think 65-350 cars are the ones to have and so the hunt is on to find one. If you step back and break this process down, you can see how everyone contributes to the price increase slowly or rapidly. Its a vicious cycle that won't stop until something drastic happens like real estate went crashing, or another terrible event like 9-11 day. Even if it stopped, it somehow picks itself back up and starts cycling again. I remember when this local Mustang dealer in Houston told me I was nuts for paying good money for 2 67-500s years ago. I bought them regardless if he was right or not because each car had a purpose for me like one for fun, and the other for restoration guide to my early 67-350 (In this aspect Bob Perkins was the one who explained to me that you have to have a good car to make good restoration easier). Anyway, I specifically remembered how this Mustang guy told me he was in this Shelby longer than I was and that I was stupid for buying them at that price and that the market will fall just like it did in the late 80s. I ignored him and just went along with what I believed was right for me. Bottom line is you have to believe in yourself about your car or you will always have doubts in the back of your mind and others will make you change your mind faster than the market will turn on itself. just my 2 cents. jon Quoting Ronald Robertson <ronald.robertson@sympatico.ca>: - Greg: - Just an observation, but perhaps reality has hit the Shelby market. - I wonder if collectors were not simply swapping mega $$$ for Shelbys to - other collectors (like the late 80's) and they realized that it was they who - were driving the prices up, to levels that the ordinary Shelby buyer simply - could not afford. - One has to wonder if ole Shel's recent antics sort of turn some folk off as - well. - Just a thought. - Ron - - ----- Original Message ----- - From: "g adams" <mrgt350@yahoo.com> - To: <shelbymustang@carmemories.com> - Sent: Friday, December 16, 2005 11:36 AM - Subject: Shelby e-bay auctions - - - >I have been watching Beckers auctions for the 67 GT500 - > (2nd time) and the 69 GT500 convert. (3rd time). - > - > Seems that bids are not quite as active nor as high as - > previously was previously. - > - > The convert previously had a reserve of $225K and this - > time the reserve was hit at $181k. - > - > Auctions look like bids may have been retracted or - > rejected as the bids actually decreased from the high - > point. - > - > Whats going on? - > - > Greg - > - > - > - > __________________________________________________ - > Do You Yahoo!? - > Tired of spam? Yahoo! Mail has the best spam protection around - > http://mail.yahoo.com - > - - - Gang, I bought my two GT500's in the late 1990's, when there was considerable variation in price from one market to another, a situation that, scams or no, seems to have been made more efficient with the advent of eBay. The '67 was regarded as a bargain in 1998 (and indeed it was), as it was an orphan at a Florida auction, brought by a Lincoln dealer who had received it in trade on a Navigator from the guy who had bought it at B-J two years before. However, the review that SCM wrote on my purchase of the '68 convertible in 1999 said that I'd essentially overpaid and that a few miles on the car would drop the value by $15,000! It didn't. So, am I happy about being about $180k ahead on the two cars? Not really- as both my wife and my mechanic have said, I'd just go out and find another pair and pay dearly for them, so why not keep what I have? Other than a few concours queens, my two stack up pretty well, and I'm in this to drive, not as an investment and am happy to be about even in the hobby over the years- if you conclude from this that I have a few that have been spectacular flops financially, you're right! I get in trouble when I decide to build a car "just the way I want it" like the '59 Skyliner restomod that's worth less than half of what I have in it, and then there's the Phantom III Rolls-Royce, a lovely money pit if there ever was one. I guess my point is that this is a hobby for most of us, and all lower prices might mean is that more enthusiasts will be able to afford these wonderful cars. That's not a bad idea- every market has corrections now and then, and if that's what this is, so be it. I think the overall trend will be up in the long term, no matter what. Cheers, Mike Heroy CSX4045 67 GT500 #841 68 GT500 #389 85 SVO
