Best Ride 2008
Time is ticking! The 2008 Best Ride Contest was supposed to end in December, but because we were busy updating the site, the holidays getting in the way and the marketing push in January, we are extending the deadline to February 28th. We will then vote for the Best Ride in March and award the new winner in April.
To all the applicants that did not win in 2007, you MUST resubmit your ride to be eligible to win in 2008. However, what did we learn about the 2007 contest? The story is a major part of your ride. Just ask Chris Bednar, the 2007 winner.
So, get those submissions in ASAP. You must create an account or log on, then select the ‘Best Ride Contest’ link on the right side of the page (under the main header of Contests) and fill out the form. Remember you must own the car and submit the VIN so we don’t have any duplicate submissions. Times a tickin’….
Barrett-Jackson 2009
Well here we are again, another year of the “World’s Greatest Collector Car Event” in sunny Scottsdale, Arizona. Last year I wrote about Craig Jackson being a friend or foe. Well, I am still leaning towards foe. In fact, he turned sleazy that Saturday night, but I will tell you about that later. Let’s talk cars first.
First a recap of the last four years; in 2008 the 1963 Corvette Rondine sold for $1.76 million, in 2007 Carroll Shelby’s own 1966 Cobra for $5.5 million, in 2006 the 1950 GM Futurliner sold for $4.4 million, and in 2005 we saw the 1954 Oldsmobile F-88 concept car sell for $3.3 million. This year was the 1929 Ford Tri-Motor Airplane that sold for $1.21 million. So, what is to be said about this year’s auction and the economy? Two words, screeching halt.
The total sale for 2009 was $63 million, for 2008 $88 million and 2007 was $112 million. If I do my math correctly…subtract that…carry the one…this years sales are down 43% from 2007 and off 28% from last year, yet BJ keeps touting that they are breaking records. Here is what I noticed; there are two types of cars, the elite rare cars and the rest.
The elite rare cars are the cars that have great historical significance, are super highly rare and come to auction once in a blue moon. This means only the ultra-rich can buy them. My two cents, if I ever become that rich I wouldn’t want those cars anyway, I can’t drive them nor will I ever enjoy them. Examples of these cars are; pre-war Bentleys, early 60’s Ferrari’s, and Carroll’s Cobra (among others). Besides, they are just going to sit in a museum anyway. Then there are the rest of the cars, the hemi Cudas, LS6 Chevelles, Shelby GT350s and the like. I know what you are thinking, “Joseph, you are drunk again off of grandpa’s old cough medicine. I can’t afford those cars!” Hear me out.
The “regular” cars I mentioned are well less than a million bucks and this is were I saw the largest decline in prices. What I mean is this, the airplane that went over the block was an elite vehicle and will always fetch the high dollar price. In other words, the economy will never affect the buyers of these vehicles. The other cars will take the hit.
I went to the show Thursday, Friday and Saturday and I remember saying to myself several times, “Wow, I can’t believe that car sold for that!” Here is one that sticks out in my mind, a 1968 Shelby GT500 KR convertible sold for $148,500. To compare, these cars were selling for over $300k in 2006.
So, what does it all mean? The bad: 1) it’s not an equal sum game and many of those “thousandaires” who bought cars two years ago and are now losing their shirts, 2) BJ with the no-reserve is feeding fuel to the fire, and 3) this bad economy is not over.
The good: 1) this economy will turn around, just try to hold on and see it through to the end, 2) the cars we love are attainable again and 3) the market for collector cars is becoming more stable and expectations are coming back to reality.
As for Craig Jackson, he showed up to “The Garage” (which was the on-site dance club) wearing a tight t-shirt, terrible hair plugs and a…how to I put this nicely…groupie on his arm. I’m 36 years old and felt out of place and in comes Craig. Hey Craig, nobody wants to see a 50 year old Fonzie!
