Syclone #1281 at Barrett-Jackson Scottsdale

[Sy1192]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

X2

Jimmy and jeepruby04 hit the nail on the head.

Now the rest of the year folks all over the planet will quote over and over and over......"yeah, a car just like mine went for **insert ludicrous price here** at Barrett Jackson". Thus driving up asking prices to totally unreasonable levels ($2000 car suddenly becomes $10,000) and stagnating sales.

I have to admit, I do love watching the circus of alcohol and testosterone that is the yearly Scottsdale event.

 

[Quickstop [UK]]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

One person doesn't make a market... I'll bet a head gasket that they don't make money on the truck. I hope they enjoy it and congrats. They are awesome cars. I'm glad that someone found a way to get one, regardless of price and I hope they join the forum and we can keep them going a little bit longer irrespective of where it ends up.

Long live SYTYSoGT!

 

[DaveP]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

I would guess that the buyer of #1281 purchased the truck for an investment. It is a low mileage truck still riding on it's original tires and claimed to be all original.

It is well-known and accepted that the more original a low production / special interest vehicle is, the easier it will be to sell (more liquid) and the higher the price it will command in comparison to other similar vehicles. So I agree with you that is why this guy picked this Sy. Because these attributes increase its liquidity.

But I disagree with you as to WHY he purchased it. "Investing" is supposed to be about increasing an asset's value. He fully expects this one to be worth less than what he paid for it when he goes to sell it. This is not "investing". So why did he purchase it?

The current situation in the Auction Rooms all over the world is the seeking of "Safe Haven" for paper assets such as stocks, bonds and other non-tangible equities and illiquid assets. If the market takes another nose-dive, which it will, these PAPER assets are going to go way down in value. In some cases all the way to ZERO. Just like they did in 2007-2008. People with paper holdings are seeking to convert recent profits on paper into hard (tangible) assets that will certainly depreciate from what was paid for them, but won't completely turn to vapor (ZERO) like paper-promises will.

Here's my take on this sale: The purchaser had 30,000 of paper profits in his equity account. He found a buyer for those assets, and took the "money" (really just credit) and purchased this Syclone. He fully realizes that at re-sale, he will probably only get 15,000 for it, a 50% "loss" on his original 30,000 purchase. BUT if he hung onto his $30,000 (on paper) equity account holding instead, his loss could well be 100%.

This is what seeking Safe Haven is all about: Converting recent run-ups in paper holding into something you can touch, store, and protect with a gun so it can't be "confiscated" like bank deposits or pension promises can be. And is what is driving valuations in many markets. Such as Art.

I don't know jack-shit about Art and Sculpture, but I can tell you I don't think this is worth 100 Million, which is what it just sold for.

Whoever did is hoping he can sell it for something rather than loose the entire 100 million he spent to purchase it. Same as the guy that paid 30,000 for a 15,000 Syclone.

 

[jeepruby04]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

Very interesting Dave, I hadn't entertained the thought of using an automobile to safeguard wealth. It does make more sense than buying in the hopes you can sell for more later.

 

[Baythan]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

The Beverly Hillbillies truck went for $275k. This truck has absolutely no practical use.

Whoa! Thems fightin' words! :lol:

Prob purchased by a museum which will recoup some of the money by promoting it as an attraction and gaining visitors. Hell, I'd pay to see it. Love that show.

 

[Jimmy]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

It is well-known and accepted that the more original a low production / special interest vehicle is, the easier it will be to sell (more liquid) and the higher the price it will command in comparison to other similar vehicles. So I agree with you that is why this guy picked this Sy. Because these attributes increase its liquidity.

But I disagree with you as to WHY he purchased it. "Investing" is supposed to be about increasing an asset's value. He fully expects this one to be worth less than what he paid for it when he goes to sell it. This is not "investing". So why did he purchase it?

The current situation in the Auction Rooms all over the world is the seeking of "Safe Haven" for paper assets such as stocks, bonds and other non-tangible equities and illiquid assets. If the market takes another nose-dive, which it will, these PAPER assets are going to go way down in value. In some cases all the way to ZERO. Just like they did in 2007-2008. People with paper holdings are seeking to convert recent profits on paper into hard (tangible) assets that will certainly depreciate from what was paid for them, but won't completely turn to vapor (ZERO) like paper-promises will.

Here's my take on this sale: The purchaser had 30,000 of paper profits in his equity account. He found a buyer for those assets, and took the "money" (really just credit) and purchased this Syclone. He fully realizes that at re-sale, he will probably only get 15,000 for it, a 50% "loss" on his original 30,000 purchase. BUT if he hung onto his $30,000 (on paper) equity account holding instead, his loss could well be 100%.

This is what seeking Safe Haven is all about: Converting recent run-ups in paper holding into something you can touch, store, and protect with a gun so it can't be "confiscated" like bank deposits or pension promises can be. And is what is driving valuations in many markets. Such as Art.

I don't know jack-shit about Art and Sculpture, but I can tell you I don't think this is worth 100 Million, which is what it just sold for.

Whoever did is hoping he can sell it for something rather than loose the entire 100 million he spent to purchase it. Same as the guy that paid 30,000 for a 15,000 Syclone.

If I had a ****ton of $ burning a hole in my pocket,I'd buy gold or silver, not a stupid ****ing leprechaun riding a unicorn POS vehicle that history has forgotten.

 

[blue83z]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

I have pics of 2731 from Barrett Jackson on the Facebook page. 1281 was already off to the new owner by the time I made it out to the tents today.

 

[Don W.]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

I've been to few auctions. "Auction fever" set in on at least two of them. The first was Harrah's. They had so many cars they had to break it into three different auctions. The final car at the final auction was a Duesenberg. The first car to sell for a million dollars. But during the regular auction cars were going for amazing $$ just because they were Harrah's cars. Me? I ended up with some artwork. One was a favorite of Mr. Harrah and hung in his personal office. Neat.

The funniest I've seen though was at an auction for contractor going out of business. Hand grease guns were going for more than retail.:roll:

The worst? I could have bought two (they wouldn't separate them) '57 Chev Bell Air 2 door hard tops, black with white. FACTORY FI CARS. I could of had them both for 30K. What are those cars worth today? Pains me every time I think of it.

 

[RedSy]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

The Mecum Sy sold for $24.5k.

 

[Baythan]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

The Mecum Sy sold for $24.5k.

Pretty strong money. :tup:

 

[Sy1192]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

The more I drive mine and the more I slobber uncontrollably over the crop of ludicrous horsepower offerings from the big three (Hellcat Charger to be exact, followed closely by the Chevy SS sedan), I see what a bargain these little trucks are.

But most who can provide the 0-60 ours are capable of are what......SOLIDLY in the upper-$30K (good luck finding that stripper model) to the Hellcat level ($65K+).
Yes, Hellcats are advertised for faster 0-60 but on a crappy two lane littered with gritty crud? Doubtful.
And in the rain? Oh baby.....better keep that right foot under control!
Where our little monsters shine.

Even at $24.5, providing it's a turn-key deal, what do you have?
You have a ride that'll keep up with (surprise and probably leave them standing if they don't know what it is) most of them to legal speed limits (60-70.....who really wants to deal with an officer if you're caught being stupid at 100?) and a little piece of history.
I will be the first to admit we're pushing a brick wall down the road so anything over that, all those aerodynamically slick and horsepower heavy new offerings will leave us like we threw out the anchor.

Am I wrong?
I see the folks who bought the Mecum and Barrett Jackson offerings possibly saying, "you know, that little rig looks like a ton of fun for darn near half the money of *insert new muscle car name here*!".

Thanks for listening to my ramblings. LOL

 

[BuckeyeTroop]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

I had a cash offer on my truck from a guy that was attending BJ with the hopes of bringing 1281 home. I don't know yet if that's the guy who ultimately won it though.

 

[RealFastV6]

Found the Saudi truck outside. Decent shape. Certainly not all original.

Sent from my iPhone using Tapatalk

 

[leusgs]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

.....Here's my take on this sale: The purchaser had 30,000 of paper profits in his equity account. He found a buyer for those assets, and took the "money" (really just credit) and purchased this Syclone. He fully realizes that at re-sale, he will probably only get 15,000 for it, a 50% "loss" on his original 30,000 purchase. BUT if he hung onto his $30,000 (on paper) equity account holding instead, his loss could well be 100%.

If he's paranoid about paper money evaporating it would be better to invest his $30,000 in a $30,000 hard asset, not a $15,000 one.

 

[dgoodhue]

Re: Syclone #1281 at Barrett-Jackson Scottsdale

Maybe he just wanted a low mile Syclone.