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8/18/2017 5:06 AM  #1


Another car value question.

I know its hard to to guess but a friends husband passed away and she would like to put the car up for sale. What is everyone's thoughts on value?

1973 FORD MUSTANG COUPE
Privately owned for over 30 years, Garage Kept, Car-Covered, Driven less than 50 miles per year
Car has won three 1st place trophies in South Florida Car Shows
 


  • 302 C.I. BOSS Engine; 400+ HP; 12.51 Compression Ratio
  • 780 Dominator Holley Dual Fuel Line (currently runs AV-Gas)
  • Crane Hydraulic Race Cam; 518 Lift; 292 Duration
  • Balance Crank and Engine built by Crane Cams
  • Drive Train- Top Loader4-speed/close ratio
  • Doug Headers – 3” wrapped (2005)
  • 2” Dual Exhaust Flow Master Muffler
  • 11” Hayes Aluminum Flywheel
  • 10 ¼” Hayes Aluminum Clutch
  • 4:10 Posi-Rear Richmond Gears
  • Brakes –FrontDisk/Oversized Rear Brakes
  • Tires – T/A Radials
  • Interior – All New carpeting etc, replaced 2004
  • Simpson 5-point strap harness
  • 3” Roll Cage
  • Reinforced floor pans, steel bars welded under chassis
  • SW Gauges/ Pro-Tach
  • AM/FM CD Stereo
  • Exterior –Ford Boss Hood, Ford Fenders, Rare original rubber front bumper
  • Paint-Yellow Imron with gold pearl flake, two clear coats
  • Custom car cover

Thanks for your time.

 

8/18/2017 5:42 AM  #2


Re: Another car value question.

Its a tough question.  You don't want to leave money on the table by asking to little, but you don't want to have the car sit forever because its priced too high.  The biggest issues I see that hinder value are that its not a popular year, its not a popular bodystyle, and its yellow.  The problem with building a car the way you want is that its prefect for you, but to sell it for top dollar you have to find someone who shares your taste.  I would definitely suggest listing this on eBay if you want to get top dollar for it.  Craigslist isn't a good idea.  It seems everyone who shops there is looking for a bargain.  You get people who come out to see it and try to buy it for half of what you're asking.  In the end it just wastes a lot of your time.  My gut says I'd list it at $10,000 and see what happened, but I don't really know the value of this bodystyle.  Some internet investigation could help.  See what similar cars are bringing.  The key is look at the sale price, not the asking price, which can be harder to find. 

 

8/18/2017 2:52 PM  #3


Re: Another car value question.

You can purchase the auction history of the major auction houses by subscribing to their websites.  I'm talking mecum auctions and the like.  There's a quarterly book that used to go around, I'm sure it's been put on a website by now.  You can look back at the sale histories for the last year to see how your particular make/model/year has sold at auction.  Really there is no better way of seeing actual value then what people put down at auction.  W/ that said, keep in mind there is an auction fee which can skew the person to person cost and it's always dependent on who is in the room.  Find the last 4-5 sales and take an average.

 

8/18/2017 6:11 PM  #4


Re: Another car value question.

Auction values can be dangerous.  The people who attend these things tend to have deep pockets, and tend to have a lot of pride that won't let them tap out when they get into a bidding war with another person.  Auction staff also tends to stand next to the bidders and put pressure on them to continue bidding.  Its not uncommon for people to drink at these auctions, and even a few drinks can skew your judgement leading to higher prices.  Auction fees also eat up at least 10% of the sale price, often more.  Unfortunately, if you want to get an auction sale price you're going to have to auction the car.  If you have a really rare car you want premium dollar for this is a good idea.  For a car like this I don't think the fee you'd pay the auction house would justify the increase in price you might see by selling it at auction. 

 

8/18/2017 9:08 PM  #5


Re: Another car value question.

TKOPerformance wrote:

Auction values can be dangerous.  The people who attend these things tend to have deep pockets, and tend to have a lot of pride that won't let them tap out when they get into a bidding war with another person.  Auction staff also tends to stand next to the bidders and put pressure on them to continue bidding.  Its not uncommon for people to drink at these auctions, and even a few drinks can skew your judgement leading to higher prices.  Auction fees also eat up at least 10% of the sale price, often more.  Unfortunately, if you want to get an auction sale price you're going to have to auction the car.  If you have a really rare car you want premium dollar for this is a good idea.  For a car like this I don't think the fee you'd pay the auction house would justify the increase in price you might see by selling it at auction. 

​Auction houses love people like you.  Just as many people lose their shirt as make off like bandits.  Don't believe the hype on TV.  The house is rarely packed with drunk rich guys just wanting to throw money at any bucket of bolts that roll across the lot.  Most people that go to auction houses either have their heart set on a specific car or are looking for a deal.  People put up a car at no reserve b/c the auction house tells them their car will get top dollar.  Except your car is only worth what the people in that room think it is worth.  That's why I said take the AVERAGE of several auctions.  That will give you an idea of what's trending.  At the end of the day, the people in the room have access to the same information you do and rarely pay above market value. 
 

 

8/20/2017 6:53 PM  #6


Re: Another car value question.

If you would sell your car at an auction hoping for top dollar and list it with no reserve you deserve whatever happens to you.  The whole point of an auction is to get top dollar.  You are paying a percentage to ensure you get top dollar.  A reserve gives you the opportunity to take less if it gets close, because you can always pull the reserve. 

As far as quality goes, nothing at an auction is a bucket of bolts.  They all have to be very nice, and super clean, or a survivor.  I mean unless you go to the local auto auctions where the used car dealership guys go, but that's the wrong venue for a classic.

I've been to plenty of auctions.  Never bought a car at one, likely never will.  I've seen super nice cars at them, and they sold for way more than I'd ever pay.  But then I'd rather buy a car that needs work and make it into what I want rather than buying something already done.  I'm not disparaging the guys who do that, most don't have the facility or skills I do, and each person values their time differently.  When I go to buy a car I want to deal with the owner, period.  We will reach an agreement for a certain number of portraits of dead historical figures that will be in the range of what I'm willing to pay, or we won't.  I've walked away from vehicles over $100 before, and I'd do it again. 

But hey, none of this is helping the OP.  You can always start the price high and if there are no takers you can drop it.  eBay will let you relist for free if it doesn't sell.  You can also list it on multiple sites with stipulations that if it sells on one the auction on the others end automatically, etc.  Best of luck with it. 

 

Board footera


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