Keith,
I did not intend to indicate that you could set your own price ...and get it.
I suppose what I was indicating is that for some reason, owners are routinely
willing to spend more than they are worth on Healey restorations, and then for
one reason or another, DO sell them for less than they cost! This activity in
itself, as a seller, does exert a downward pressure on the prices of the cars.
For years now, there have been many of US willing to spend 50, 60, 70 K to
build such cars, ---so there clearly is a market for people willing to spend
that much on a Healey. -But when it comes to finished cars, why would I pay
anyone $50,000, for one, when if I look around, I can find a less patient
seller willing to let his go for $32,000? As I said earlier, perhaps there are
just too many good restored or original Healeys yet on the market and too many
willing sellers to maintain consistently higher prices. In your terms, I
suppose you could also state that there are not enough buyers to maintain
higher prices.... But.......
It seems that there are those who do pay 60K, fairly routinely (doing
restorations), ...just not for finished cars for some reason. Since "Tanner"
cars do command such prices, perhaps there is a widespread skepticism on the
part of buyers as to the quality and accuracy of restorations by any but the
most recognized shops?
I do think that Rod and Custom cars are an entirely different animal. They
reflect a truly personal vision as to what the creator feels is beautiful in
an automobile. It therefore can have a fairly narrow potential market of
buyers who share that particular concept of beauty. Even more so than with
classic cars, I think Rod and Custom is a notoriously bad automotive
investment. -They do not even have the assurance that the design was once
broadly lusted after, when new, as is the case with most "Classic Cars".
----- Original Message -----
From: Keith Pennell
To: David Nock ; Gus ; healeys@Autox.Team.Net
Sent: Monday, January 31, 2005 7:53 PM
Subject: Re: Barrett-Jackson Auction - Reporter on the scene...
David et al,
With all due respect to the more knowledgable on the list, anything is
worth
what the buyer is willing to pay. Not to beat a dead horse but this old
adage is quite true. I don't disagree with the figures that you and Mike
are tossing around. However, just because you put 90000 into the project
does not mean that there is a buyer out there willing to give you that
90000!
Sure you could set on it until that buyer comes along, but that may not
happen. I would be curious to know how many of the rods and restored old
cars did not go for the money the builders had in them.
Keith Pennell
> > That may be, but Healeys aren't worth $90,000. and just because it
might
take
> > $90,000 to build one to "concours" (better than factory) standards
doesn't
> > make it so.
> >
> > I love Healeys but anyone parting with that kind of money to acquire
one
> > either knows nothing about the cars or money is merely not a factor in
the
> > purchase. Or put in simple terms, the guy's a nutcase.
>
> Why not 90,000.00
> 1000 hours is not restoring to concours. You could add at least another
500
> hours if you were to go to concours.
>
> David Nock
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