Valuation Question for 66 GT350

[Bill]

This discussion is interesting because if the Hagerty valuation is that far off and nice original 66's are being sold under $95K (which is not what I have personnally seen for nice original cars), then what are 65's truely worth....? 

BTW... the 6970 mile, automatic, green, 66 shelby at Mecum just sold for $275K and the SFM1293 sold for $148,500.  The 65 at Barrett Jackson sold for $325K.

Greg,

    Barrett Jackson does not "make the market", they "make their market", and nothing else. If you are uncertain of the difference, feel free to ask around. Start with Vern and Bret, as they know the real world market better than just about anyone else here these days.

[66S285]

Totally agree.

[capecodmustang.com]

I have to agree with Greg on some of the auction prices...
They're hard to figure out....

But overall all they're inflated in most cases..

IMHO....

Value of someone's property is a very sensitive subject....
Chances are you'll hurt someone's pride sooner or later....

[Greg]

I have to agree with Greg on some of the auction prices...
They're hard to figure out....

But overall all they're inflated in most cases..

IMHO....

Value of someone's property is a very sensitive subject....
Chances are you'll hurt someone's pride sooner or later....

+1

[5s386]

Don't forget: Excellent past history, all original, never hit, rust-free body, with matching numbers, and/or race history, "unrestored", will demand the higher prices (many privately) than most collector car auctions. This is for 65's and 66's, in my opinion. Have you seen the Shelbys at the auctions in the last 3 years? Like, up really close, in person? And the prices they get are still very high at auction.

[Shelby_r_b]

Have you seen the Shelbys at the auctions in the last 3 years? Like, up really close, in person? And the prices they get are still very high at auction.

This is such a true statement.  Easily, 8 out of 10 Shelbys I've personally seen at auction were in horrific shape.  And, most have been well sold, given their condition.  Every once in a while I'll see a nice example, but the times are few and far between.

Side note - it seems like having a "Caution Fan" sticker is a prerequisite to consigning a car at most auctions.   

[Don Johnston]

...and CS signed glove box door so the live auction camera can zoom right up to it to boost the bids!

[red66]

As a 1966 GT350 owner, I follow auction sales with interest. 

Ten major auction sales for 2017 to January 2018 reported sales ranging from $115,500 and $297,000 and one "no sale" high bid of $200,000.  The average for these 11 cars was $178,000.  For most of these cars, available information explained both the lower sales (color change, incorrect transmission, etc.) and the higher prices brought by exceptionally low mileage original cars or concours quality originals. I did not count either the $550,000 sale of 6S001 or the $742,500 paid for 6S2377; one of the four original convertibles.  I also left out a private sale of a condition 3 green car for $170,000 of which I am personally aware.

Hagerty's prices do tend to run a little high but they may reflect correct or unmodified cars only and not the full range of those mentioned above.  Maybe some of you can provide more information on this topic.

[SFM6S087]

THANKS for the info! Real world sales are really the bottom line.

BTW, Hagerty is currently showing:

$250,000 – #1 Concours
$198,000 – #2 Excellent
$146,000 – #3 Good
$120,000 – #4 Fair

Your average of $178,000 for 11 cars slides right in there between Good and Excellent. With your high of $297,000 and low of $115,500 nicely bracketing Hagerty's upper and lower figures. Maybe Hagerty is more accurate than I thought.

Steve

[jamesfee]

When I started this thread, I was concerned with the response I would get by using Hagerty. The problem is, with a limited production vehicle like ours, there aren't *that* many examples for sale at any given point in time. Compound that problem with a wide variety of conditions in the sale units and you realize that the best you are going to get is an approximation of the market (not to mention that the market itself is subject to periodic ups and downs).  While I was looking at trying to establish a "value", many of you have brought up that the nature of the auctions can obscure the concept of value. Getting people pitted against each other aggressively bidding can mask a vehicles value – though it cannot be denied that it certainly drives perceived value. The problem I see is that that pricing does not always hold up when the competitive bidding environment is removed.

That said, I am grateful to everyone who commented. Our vehicles do engender passion and that is yet another component to their selling price – or the argument about it.

At the end of the day, value should remain with good examples of the Marque, be they complete or in pieces.

[papa scoops]

everybody's opinion on quality of restoration or originality is different. I may think your car is a pile of rusted crap, you may think of it as mint. bottom line? if you can't afford it, don't ask. if for insurance, todays price will change, up or down next month. phred