Is anyone at Mecum in Phoenix this weekend?

[557]

Good point Jeff on the color of the GT500. Maybe no Vikings fans in the house for this one?! I think most would agree not the most flattering color and would almost demand a repaint. But if you can get past the color, for $60K, there is probably a lot of fun to have with this car.

I would have bought it in a heart beat at 60K .Woulda, coulda, shoulda. Keep in mind that the winning bidder was lucky in that he was in the right place with no other bidders bidding against him. For those wishing that they had access to a way back machine so you could step out and into the auction to bid against the high bidder at the 60k then who knows how much more it would have bid up to. I suppose if you stepped out of your way back machine and were able to identify the bidder and put a sack over his head and stuff him in a closet so you could take his place then you could be the lucky guy. Just considering the sci fi possibilities. 

.  If I had a time machine I would go back further.In the 70s /80s they were "giving them away".If I could go back to 82,when I bought my car,and had the cash,I would buy EVERY car I went to look at at the time....EVERY car was under 8k with an outlier being a 289 cobra at 20k....Interesting times.....

[68ShelbyKR]

Fortunately this one got up to $160,000, although (and I'm glad they didn't sell it at that price) it didn't meet the reserve.  Looks like the seller knows what they have.  That car is worth in excess of $200,000 all day long.

https://www.mecum.com/lots/AZ0320-405291/1968-shelby-gt500kr-fastback/

I think the corona virus, stock market and other factors are artificially holding prices and attendance down for the moment. I'm curious what the individual or dealer sales are getting for like vehicles.

As for the purple GT, to each his own.  If that is what he/she likes, then go for it.  Besides, it only helps those of us (with car value) that keep ours original as there are fewer around.

[QuickSilverShelby]

Fortunately this one got up to $160,000, although (and I'm glad they didn't sell it at that price) it didn't meet the reserve.  Looks like the seller knows what they have.  That car is worth in excess of $200,000 all day long.

https://www.mecum.com/lots/AZ0320-405291/1968-shelby-gt500kr-fastback/

I think the corona virus, stock market and other factors are artificially holding prices and attendance down for the moment. I'm curious what the individual or dealer sales are getting for like vehicles.

As for the purple GT, to each his own.  If that is what he/she likes, then go for it.  Besides, it only helps those of us (with car value) that keep ours original as there are fewer around.

What!!! $200k all day long? I don't think so.  I'm not expert on these cars but I know for a fact that this car has the wrong emblem on the passenger glove box, has the wrong tail light bezels, has a bunch of things wrong in the engine compartment (wrong battery and a bunch of other stuff) and who knows what else.  Unless this is an engineering car or it has some sort of significant history, in my opinion, there is no way it is $200k +.  Just my opinion but let the experts chime in.  I might be totally wrong but I don't think so.

QSS

[68krrrr]

Not to mention the wonky lower stripes are all wacked out at the doors &  look at the Gt500KR script with no stripe next to it on either side  ,should of took $160 seemed like decent money unless i'm missing something .

[68ShelbyKR]

QuickSilverShelby, what would be the correct emblem on the glove box for a KR?

[The Going Thing]

The '68 cars don't have the look nor the value of the 67 cars. 200K easily? Not even close.

[Coralsnake]

I must also respectfully disagree. First with the seller, the car is not anywhere close to being unrestored. GT500 KR fastbacks have historically never been over $150k, even on their best days. There of course, always exceptions.

We could make a pretty long laundry list on this one, but I will refrain. The same people who believe the forum is controlled by a cabal of bitter, never to be named, good old boys, will be the first to scream we are tearing other people's cars apart.

I believe, the glove box emblem is correct.

At 160k this car was overbid by at least 20k in my opinion. I have only been tracking 1968 prices since 1986 so take it for what its worth.

[Royce Peterson]

Mecum auctions have different rules than Barrett - Jackson (for example). At a Mecum auction the company can place "bids" on a reserve car up to the reserve (but not in excess of the reserve) if there is no activity in the room from actual bidders.

This practice results in countless cars seeming to reach a very high number while in fact no one was actually bidding.  The idea is to make it where if anyone actually places a bid then they are the new owner while meeting the seller's reserve.

Fortunately this one got up to $160,000, although (and I'm glad they didn't sell it at that price) it didn't meet the reserve.  Looks like the seller knows what they have.  That car is worth in excess of $200,000 all day long.

https://www.mecum.com/lots/AZ0320-405291/1968-shelby-gt500kr-fastback/

I think the corona virus, stock market and other factors are artificially holding prices and attendance down for the moment. I'm curious what the individual or dealer sales are getting for like vehicles.

As for the purple GT, to each his own.  If that is what he/she likes, then go for it.  Besides, it only helps those of us (with car value) that keep ours original as there are fewer around.

[Special Ed]

It must be the added lemans stripes that make it a $200.000 car!!! Anybody see the buck tag?

[shelbymann1970]

Fortunately this one got up to $160,000, although (and I'm glad they didn't sell it at that price) it didn't meet the reserve.  Looks like the seller knows what they have.  That car is worth in excess of $200,000 all day long.

https://www.mecum.com/lots/AZ0320-405291/1968-shelby-gt500kr-fastback/

I think the corona virus, stock market and other factors are artificially holding prices and attendance down for the moment. I'm curious what the individual or dealer sales are getting for like vehicles.

As for the purple GT, to each his own.  If that is what he/she likes, then go for it.  Besides, it only helps those of us (with car value) that keep ours original as there are fewer around.

Really confused by your 200K statement "all day long". Lets see no original starter delay, no wheels hubcaps and top stripes. No judging award paperwork. Those are the types of cars that might bring the coin you think of in my opinion. I think 160K may be high and who knows a Mecum bid? Wasn't there but it is missing expensive critical items for a top dollar car. Gary

[QuickSilverShelby]

QuickSilverShelby, what would be the correct emblem on the glove box for a KR?

I believe, the glove box emblem is correct.

I stand corrected.  I got mixed up last night and I thought I was looking at a GT500 glove box with a repo emblem you often see used on GT500's.  In fact this is a GT500KR glove box with a correct emblem on it.

Pete, thanks for cleaning up after me.

Still not a $200k car.........all day long.

QSS

[Coralsnake]

I am here to help 

[Hockeylife]

Mecum auctions have different rules than Barrett - Jackson (for example). At a Mecum auction the company can place "bids" on a reserve car up to the reserve (but not in excess of the reserve) if there is no activity in the room from actual bidders.

This practice results in countless cars seeming to reach a very high number while in fact no one was actually bidding.  The idea is to make it where if anyone actually places a bid then they are the new owner while meeting the seller's reserve.

Fortunately this one got up to $160,000, although (and I'm glad they didn't sell it at that price) it didn't meet the reserve.  Looks like the seller knows what they have.  That car is worth in excess of $200,000 all day long.

https://www.mecum.com/lots/AZ0320-405291/1968-shelby-gt500kr-fastback/

I think the corona virus, stock market and other factors are artificially holding prices and attendance down for the moment. I'm curious what the individual or dealer sales are getting for like vehicles.

As for the purple GT, to each his own.  If that is what he/she likes, then go for it.  Besides, it only helps those of us (with car value) that keep ours original as there are fewer around.

Absolutely true Mecum bids, some would say shill bids, up to a reserve. It's known, but not by all, resulting in an attempt to inflate values. Hapless announcers cite car was bid to xxxx, when in fact no money in room. Then sellers tout car was bid to xxxx, as if the bid goes on has any relevance...it does not.
I watched 3 Boss 9's, bid to 150k, 170k, and $210k, give or take, and the aforementioned 68 KR...no money, but everyone who owns these cars, or similar will tout these numbers as if they represent the market...they do not. The market occurs when buyers buy, sellers sell.
As for real values, many of you long term owners have seen extreme increases in value over the years. Much of this can be attributed to the long term increase in the stock market. With the sudden drop in today's stock market, prices in many other commodities will fall as well. Gold may be an exception.
Sorry, but nothing "artificial" in how prices ebb and flow with the ups and downs of the market.

[shelbymann1970]

Well when the market crashed in 1987 didn't investors flock to tangible assets like classic cars and they tookoff price wise for for a number of years? Mecum isn't the only auction that bids cars up to their reserves if they so choose. Gary

[Hockeylife]

Well when the market crashed in 1987 didn't investors flock to tangible assets like classic cars and they tookoff price wise for for a number of years? Mecum isn't the only auction that bids cars up to their reserves if they so choose. Gary

Gary, back in 1987 Black Monday did occur, the biggest Stock market drop ever at the time. However, within 2 years the market recovered what it lost and then some, so the money quickly flowed quickly back to the market. During the 90's, with the advent of the internet, knowledge was much easier to access. We know stock and classic car appreciation occurred at the same time. Not sure you can say investors flocked to classic cars in 1987, where would you get this data? Somewhat anecdotal.
I expect the stock market to recover in time, and America will lead the world out of it, and some rare and collectible cars will recover. In the short term prices are declining.
Mecum Phoenix attendance was way down, and prices as well, though buyers could still buy via internet. RM Sotheby's Florida auction is online only now. Given government guidance to limit social interactions, major sporting events being cancelled, is it realistic to expect upcoming auctions to occur in-person? What will this do to the market? I don't know. We will see.
And yes, absolutely, Mecum is not the only auction to inflate prices. Buyer beware.