Barrett Jackson

[66moneypit]

Forget the stock market, I should have invested in cars !!!!!!!

I have been watching Barrett Jackson for the last hour.
There was a beautiful Camaro 1969, 11K miles on it, went for $205,000.

FYI there have been 3 Shelby GT500s on the block in the last hour, all selling for at least 137K.

 

[DJE55]

I just saw Sammy's 67 GT500 sell for 250k and the rights for the first 07 Gt500 sell for 600K

 

[66moneypit]

I just saw Sammy's 67 GT500 sell for 250k and the rights for the first 07 Gt500 sell for 600K

I'd love to see what the return on that 600K will be because that is clearly an investment car. Let's take up a collection and buy the rights to the LAST one they produce.

 

[reenmachine]

I'd love to see what the return on that 600K will be because that is clearly an investment car. Let's take up a collection and buy the rights to the LAST one they produce.

It was a charity sale for the Shelby Children's Fund, making it a tax write-off for the buyer, so it's easier to spend that much

A '67 GT500 just brought over $400k!!!!!!!

 

[brianj5600]

Why did a '68 cj car sell for more than any others, including shelby's? $475k

 

[66stangmeister]

did u see that frickin bus go for 4 some odd million buckaroos?

get the fleps out.

 

[reenmachine]

Why did a '68 cj car sell for more than any others, including shelby's? $475k

Check it out:
Ford, through Folger Ford in CA, secretly built 12 68-1/2 Cobra Jet cars that were "ringers" from the factory -- gobs of hp and some other goodies. These cars were sold to well-known street racers with the intention of having them rule the streets in a time where Mopar was king. These cars were dubbed "Hemi Hunter" and were very successful. This car, which just bid to $475k and thus sold for $513k, is a well-documented Hemi Hunter.

Note: The seller was Ted Diller, who was the one with the black '67 GT-500 that brought $280k two years ago and started that whole craze. He knows how to market a car, to say the least. There's more to bringing big money at Barrett-Jackson than simply running your car across the block -- it's a year of building hype and chatter and promoting your car in all the right circles.

 

[reenmachine]

I have summarized the results through Saturday on my website, right below the B-J Scottsdale 2005 results. It's interesting to compare!

Barrett-Jackson Scottsdale 2005 & 2006

 

[MustangMatt1966]

Check it out:
Ford, through Folger Ford in CA, secretly built 12 68-1/2 Cobra Jet cars that were "ringers" from the factory -- gobs of hp and some other goodies. These cars were sold to well-known street racers with the intention of having them rule the streets in a time where Mopar was king. These cars were dubbed "Hemi Hunter" and were very successful. This car, which just bid to $475k and thus sold for $513k, is a well-documented Hemi Hunter.

Note: The seller was Ted Diller, who was the one with the black '67 GT-500 that brought $280k two years ago and started that whole craze. He knows how to market a car, to say the least. There's more to bringing big money at Barrett-Jackson than simply running your car across the block -- it's a year of building hype and chatter and promoting your car in all the right circles.

hey reen, do you know where i would be able to do some reading on this "hemi hunter" car, the story sounds very interesting and i would love to read more about it

 

[krash kendall]

I think the price on that GT350H is a little excessive.

 

[jerry S]

I'd love to see what the return on that 600K will be because that is clearly an investment car. Let's take up a collection and buy the rights to the LAST one they produce.

The last Plymouth Prowler ever built was sold at auction rather than through the regular dealer net work. It went for $150,000 or so. The buyer speculated that demand for this car after going off-line would make his investment worthwhile. This turned out not to be the case.

 

[66moneypit]

The last Plymouth Prowler ever built was sold at auction rather than through the regular dealer net work. It went for $150,000 or so. The buyer speculated that demand for this car after going off-line would make his investment worthwhile. This turned out not to be the case.

He took a chance....I tip my hat to him. Sometimes investments payoff handsomely, others they don't. I NEVER saw the demand for the prowler so I wouldn't do it. But who knows, in 20 years he could be a very happy man.

 

[BB1966]

So back to the 07 Shelby,was that for the car or JUST the right to buy it + the cost of the car????

 

[reenmachine]

So back to the 07 Shelby,was that for the car or JUST the right to buy it + the cost of the car????

The car itself is included in the price...although at that point the MSRP is a rounding error

You get a low-VIN '07 GT500 coupe, your choice of color and factory options, the first one to be delivered to the public, once production starts later this year.

 

[BB1966]

AHHH so their was not an actual 07 Shelby there.......that sucks bidding on a pile of thin air!!!!!!!!

 

[reenmachine]

AHHH so their was not an actual 07 Shelby there.......that sucks bidding on a pile of thin air!!!!!!!!

Yeah, the prototype was there, and that's what they ran across the block for show, but that's not what you got.

 

[gzminiz]

You also got it signed by carroll shelby and edsel ford. Along with that you got a trip to the factory to watch your actual car being built. I don't think it can be a tax wrote off cause he got something in return. Kinda like the health and wealth raffle (in az). You but a raffle ticket but it isn't a write off cause you get something in return. Maybe his accountant can do some funky manipulation and say the difference between the value of the car, trip, etc and what was spent is tax deductible but I dunno.

 

[James Kirk]

That's right. No tax write off if you get something in return.
If the bidder was to donate the money straight out he/she could
write the amount off, but if the bidder takes position of the vehicle
he can no longer use transaction as a tax write off.
In essence he bought a car from Ford and Ford will donate all
monies aquried to charity.

Kirk

 

[kmterrill]

The car at the show was a pre-production model (not really a prototype) built as the actual cars will be built. The reason you get a low VIN number car instead of the number 1 car is because those pre-production vehicles are fully licensed and registered vehicles and each of them have a VIN number associated with it.

 

[steemin]

That's right. No tax write off if you get something in return.
If the bidder was to donate the money straight out he/she could
write the amount off, but if the bidder takes position of the vehicle
he can no longer use transaction as a tax write off.
In essence he bought a car from Ford and Ford will donate all
monies aquried to charity.

Kirk

Over the years I have purchased many items at charity auctions..
(Nothing in this price range!)
My understanding has always been that one may deduct (for tax purposes)the full amount of the price paid that exceeds the actual value of the item purchased. Obviously this becomes a grey area at times..
In other words if I were to buy a trip valued at $2000 for $3,000 at a charity auction I would be able to take a $1,000 deduction for a charitable contribution..
Scott