Barrett Jackson 360 Coupe Prices seem high?

The prices at Barrett Jackson in particlar have very little to do with real world value ..buyers can pay way to much for one car while another car can go way under value...
A lot has to do with Who the consigner is if it is one of BJs big volume consignors they Will get top value for any car ...If one of the big consignors is bidding on the car it may go cheap..
I go to scottsdale every year you cannot imagine what i have seen and they are allowed to do it....just remember it only takes ONE bid to buy a car...I was considering one car and the price ran up real fast i figured noway next thing i knew the price was backed down by one third ...just cause the bids are increaseing does Not mean anyone is bidding
And in any auction if the car does not sell then the top bid means nothing ....only bids resulting in sales mean anything

 

My buddy purchased the 360 Pozzi blue F1 spyder today for $63k at Barrett Jackson. I thought that car has a great spec at a reasonable price. Anyone know the car? Thoughts on that purchase?

 

Joe- will need some detail. Do you have link to auction?

 

I saw the same thing at Mecum

 

Exactly. Anyone that thinks that bidding at B-J means anything wrt market pricing trends (one way or the other) cannot have ever actually attended the auction. Its downright scary watching it...

For those saying F1 360's are now going up because of a couple of stupid (gamed?) nonsense a few days ago...what about the FAR lower sale prices yesterday on a handful of Ferrari's that I watched?

Oh, and what about the nice looking GATED manual 360 that sold for $75k ($82.5k with the vig) at B-J this week? I guess gated manual cars are now worth less than F1? Who knew! B-J has spoken!

 

Yup. Mecum and BJ are very similar in that nonsense/regard.

The higher end auctions for very small numbers cars are more likely to be reflective of a market. Watch those auction and you will see (at least) a higher confidence that the bids are real (although an astute observer can still come away with some concern).

But, a couple of auction sales for a car with 17,000 examples made (like the 360) is simply not reflective of the market (where there are numerous sales every week).

 

The reason is (B-J auction). That's all.

 

A friend of mine was selling his 355 a couple years ago at Mecum and they artificially raised the bid but there was no buyer. The actual bidders got pushed out and he got screwed. Their game backfired.

 

I saw the red 360 go for $100k. I was telling my wife it would sell for about 65k. She then told me I dont know what I'm talking about - I guess she's right.

 

I was there went it went across. I'd tell a buyer to check the carfax (worth little), title (worth a bit more) and get a PPI focused on evidence of prior damage/repair. If all comes back clean, your friend likely got a nice car at a decent price.

Btw - this sale of a 1-OWNER 19k mile spider for $69k (with the vig) must mean that 360's are FALLING! FALLING I SAY! LOOK, B-J RESULTS SAY SO!!!!!!!!

So silly.

 

The buyers at these auctions are there for the muscle cars, restomods or some of the more rare cars. The rest seem to bring average numbers. There are some deals to be had depending on what you are looking for.

 

Its pretty funny/entertaining to listen to the folks walking around the cars talking about them when they are near the Ferrari's.

One group of guys was amazed at the 575SA going for "such a high price" of $220k. (I had to explain its not "just another 575" and that $220k is way below prices of a couple of years ago).

Guys looking at a 430 that went for (iirc) sub $100k were amazed that such a 'very, very low mileage" car could go for so little.

I had to explain to many that Ferrari's with 20k miles are not considered low miles.

Even the B-J guys call such mileage "low low miles". Without starting that whole debate, it at least shows the lack of market understanding for the folks there.

I actually was thinking the group of Ferrari's that crossed the block yesterday afternoon were getting bids from used car dealers solely due to the lack of bidding and bottom feeding.

 

Definitely some dealers there.

 

Link to the 360 spyder. https://www.barrett-jackson.com/Archive/Event/Item/2004-FERRARI-360-SPIDER-228591

 

nice car

 

There may not have been any bidders at all on the car i have sold several cars through Mecum And they ask the owners to be on the block and sometimes there just isnt any Money in the room for the car ...if there was a real bid they would have tried to get it up to near what he wants ...they are very good....
I had a car i took to mecums i needed 135 for it they brought it up to 100 but there just was no buyer ...I sold it to someone that was not at the auction that got a call from a friend within 1 hour of the auction for 135 no commission....so it works well
But ir is all smoke and mirrors if you know that then you can use it to your advantage weather you are buying or selling

 

I find that the guys on the auction block talking about the cars usually know quite a bit about American Muscle cars but as soon as something foreign comes to the block they are really pretty light on knowledge about the foreign or exotic stuff IMO.

 

A lot of smoke and mirrors at auctions. I recollect a few years back some Swiss watch maker's watch from the 1930s sold for millions and that was a BIG story. Turns out the company pushed the bid up to millions so they would get great PR and claim to having the most expensive watch every sold at an auction; and they bought the watch.

 

That same thing happens at car auctions.. in fact maybe 10 years ago one of the auction companys acquired several of a fairly rare muscle car then sent them across the auction block and boosted them up to about 450k each from what i recall they hammered them sold but there were no buyers the next auction they were now worth 450k instead of the 150 they were worth earlier that year and they were promoted as the hotest muscle car of all the company sold the ones they had aquired for this new price 400 k plus then a few years laters they were back to normal prices ...

 

I am pretty sure this was the case. Certainly an eye opener - not what I expected.

 

That takes serious balls

 

Not everyone is a straight shooter. I think you are giving them a compliment how about "that takes a serious psychopath!"

 

All of the big auction companies make cars unattainable for real world buyers . I will stick to Autotrader or forums for used car purchases .

 

Nah just saying its risky

 

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I watched a bit of the auction.
I agree, a good place to sell.
Some selling prices were ludicrous.
Good place to show your friends how much money you have to spend.