MMS Shannons Auction Results

[arby]

Just a couple of the auction results from today.

1995 Mustang Coupe - $18000
1966 Mustang Coupe - $51000
1966 Mustang Conv - $44000 - passed in
1956 Thunderbird Conv - $65000
1962 Thunderbird Sports Roadster - $79000 - passed in
1971 Falcon XY Ute - $24000 passed in
1978 Falcon XA GS Ute - $34000 passed in
1976 Falcon XB GT Sedan - $44000 passed in
1970 Falcon XW GT Sedan - $112000 passed in
1971 Falcon XY GTHO Ph3 - $570000 passed in
1959 Galaxie Skyliner Conv - $82000
1972 Falcon XA GT Coupe - $92000
1971 Falcon XY GT - $285000 passed in

Seemed to be a lot more interest in memorabilia than cars.

[nugget378]

Either someone is very confused,or its a typo,
they stopped making XA's in 73',even the utes..

[Auslandau]

Originally Posted by nugget378

Either someone is very confused,or its a typo,
they stopped making XA's in 73',even the utes..

Twas a '73. Typo I would think.

The US cars sold well with almost no sales from the Aust stock ....... ?Mustangs show they are still very popular. Does this mean the reserves are getting silly? THe bubble has burst? Or just no interest?



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[4Vman]

The XYGT passing in at 285K is surprising.. its a fantastic resto, but that's about 50K more than we thought its worth..
Does anyone know if the passed in cars had genuine bids or just vendor bids?
Most of the time passed in means no bids...

[GK351]

Originally Posted by 4Vman

The XYGT passing in at 285K is surprising.. its a fantastic resto, but that's about 50K more than we thought its worth..
Does anyone know if the passed in cars had genuine bids or just vendor bids?

Funnily the bidders always seem to stop the bidding just shy of the reserve,
so my reservation would be vendor (mates) bids.

It happens with real estate, and happens with these hyped up motor auctions.

Prospective buyers have woken up with auctions.

[4Vman]

Originally Posted by GK5766

Funnily the bidders always seem to stop the bidding just shy of the reserve,
so my reservation would be vendor (mates) bids.

It happens with real estate, and happens with these hyped up motor auctions.

Prospective buyers have woken up with auctions.

Smart buyers only buy bargains at auctions, most avoid them now....
Golden rule, never use advertised prices or passed in prices as any guide.....
The H3 might have passed in at 570K but that could be a vendor bid.. there might not have been anyone interested in bidding at auction for it.
It could sell next week privately for 650K.. (or 450K) but you'll never know.

[BENT_8]

Originally Posted by 4Vman

Smart buyers only buy bargains at auctions, most avoid them now....

If this is true then why are there not 'smart' galaxie and Mustang buyers?

It's strange that there are plenty of 'dumb' US muscle buyers at these auctions, yet Aussie cars have stalled.
You'd expect there would be atleast a couple of dumb Aussie car buyers

Surely not only Aussie car enthusiasts are 'smart' and deal behind closed doors?

[4Vman]

Originally Posted by BENT_8

If this is true then why are there not 'smart' galaxie and Mustang buyers?

It's strange that there are plenty of 'dumb' US muscle buyers at these auctions, yet Aussie cars have stalled.
You'd expect there would be atleast a couple of dumb Aussie car buyers

Surely not only Aussie car enthusiasts are 'smart' and deal behind closed doors?

You'r making assumptions about what you value these cars at though arent you... so its relative to what your ideas are, which are usually NFI...

[Bossxr8]

Originally Posted by 4Vman

The XYGT passing in at 285K is surprising.. its a fantastic resto, but that's about 50K more than we thought its worth..
Does anyone know if the passed in cars had genuine bids or just vendor bids?
Most of the time passed in means no bids...

Suprised me too, 285k is a lot more than others have sold for, but i'm assuming the color had something to do with that. Electric Blue must surely be one of the best XY colors and i'm pretty sure they didn't make a lot of them in that color.

[4Vman]

Originally Posted by Bossxr8

Suprised me too, 285k is a lot more than others have sold for, but i'm assuming the color had something to do with that. Electric Blue must surely be one of the best XY colors and i'm pretty sure they didn't make a lot of them in that color.

Yes.. and it was a ripper car, Its highly likely if the car passed in there were no genuine bids.. so just because it passed in at 285K doesnt mean there is someone out there willing to spend that either.
For an auction to pass the reserve you need at least 2 keen potential buyers there on the spot, there might have been someone prepared to spend 300K on it, but why bid against yourself? let it pass in then negotiate. Conversly there might not have been anyone interested, that's the problem with auction results..

[TP351]

Originally Posted by Bossxr8

Suprised me too, 285k is a lot more than others have sold for, but i'm assuming the color had something to do with that. Electric Blue must surely be one of the best XY colors and i'm pretty sure they didn't make a lot of them in that color.

I'm not sure where Shannons got their idea that Electric Blue is a rare colour, there was 107 XY GT's and 11 HO's built in it. It was the 7th most popular colour.
(Source = GT Historian)

[Bossxr8]

Originally Posted by TP351

I'm not sure where Shannons got their idea that Electric Blue is a rare colour, there was 107 XY GT's and 11 HO's built in it. It was the 7th most popular colour.
(Source = GT Historian)

Shannons didn't say it was rare, I did. Maybe not as rare as I thought but considering how many would be left now they can't be that common, especially compared to colors like Vermillion Fire.

Maybe I was thinking of True Blue, isn't that really rare?

[arby]

Yep sorry about the typo.
All the cars that were passed in did have people bidding however half did end on the vendor bid.
It seemed strange that even though some cars were at the top end of the buying guide they still passed in.

[GK351]

The smart buyers buy the bargains becasue their is a good chance on making money on them in the future, take the XAGT coupe that sold for example, Fair price i reckon.

Which "investor" (not an enthusiest with a rush of blood to the head) would spend over 600k on a HO in todays financial climate?

600K locked away for a year would bring close to 50K anuall return on just a basic bank term deposit avail today. Thats just a basic term, play the risky game your returns could be 5+times more if lucky and smart about it. The investors got caught with all the hype the past couple of years thinking they will double their money in a year, year right. Hence all the passing ins. They have moved to the cheaper options now ie: monaro's rt's so on.

Then you get the boomers that always wanted one and are passionate about them that will spend the dough because they can, and good luck to them.

What gets me is hype that goes with it all.
one person is asking 550k the next 600k ohhh mine is 10 times better i'll get 850k for mine. And where's this chap that is selling the white HO for a million? is it still for sale?
or did he trade the 4 porches for it a the porche dealer?
Thats the hype im talking about. And its a turnoff for prospective buyers, well i think so anyway.

[HEMI POWER]

I just feel for those who bought these old muscle cars at a premuim price. :togo:

[4Vman]

Originally Posted by GK5766

The smart buyers buy the bargains becasue their is a good chance on making money on them in the future, take the XAGT coupe that sold for example, Fair price i reckon.

Which "investor" (not an enthusiest with a rush of blood to the head) would spend over 600k on a HO in todays financial climate?

600K locked away for a year would bring close to 50K anuall return on just a basic bank term deposit avail today. Thats just a basic term, play the risky game your returns could be 5+times more if lucky and smart about it. The investors got caught with all the hype the past couple of years thinking they will double their money in a year, year right. Hence all the passing ins. They have moved to the cheaper options now ie: monaro's rt's so on.

Then you get the boomers that always wanted one and are passionate about them that will spend the dough because they can, and good luck to them.

What gets me is hype that goes with it all.
one person is asking 550k the next 600k ohhh mine is 10 times better i'll get 850k for mine. And where's this chap that is selling the white HO for a million? is it still for sale?
or did he trade the 4 porches for it a the porche dealer?
Thats the hype im talking about. And its a turnoff for prospective buyers, well i think so anyway.

Yes... if there was a genuine bid of 570K on the H3 that's a damn good price though! its a relatively un popular color/trim combo for starters.. i think people get too carried away with sales rumours or one off prices paid for rare or special cars, 570K is still a damn good price if its a genuine bid.

[BENT_8]

Originally Posted by GK5766

The smart buyers buy the bargains becasue their is a good chance on making money on them in the future, take the XAGT coupe that sold for example, Fair price i reckon.

Which "investor" (not an enthusiest with a rush of blood to the head) would spend over 600k on a HO in todays financial climate?

600K locked away for a year would bring close to 50K anuall return on just a basic bank term deposit avail today. Thats just a basic term, play the risky game your returns could be 5+times more if lucky and smart about it. The investors got caught with all the hype the past couple of years thinking they will double their money in a year, year right. Hence all the passing ins. They have moved to the cheaper options now ie: monaro's rt's so on.

Then you get the boomers that always wanted one and are passionate about them that will spend the dough because they can, and good luck to them.

What gets me is hype that goes with it all.
one person is asking 550k the next 600k ohhh mine is 10 times better i'll get 850k for mine. And where's this chap that is selling the white HO for a million? is it still for sale?
or did he trade the 4 porches for it a the porche dealer?
Thats the hype im talking about. And its a turnoff for prospective buyers, well i think so anyway.

Exactly!
There is a definate trend towards other stuff that still has room to grow, this trend gives strong evidence that the current market is full of investors looking to make a buck quicker than they can at a financial institution.

The GT market has definately maxed and they want to find something to move onto that will have a better chance of providing a good profit.

I doubt there are many enthusiasts amongst them.

The XA for $92k is something you would expect an entry level investor/ enthusiast to afford, more desirable. What are the specs, big port? toploader? as compared to the XB which passed in early.

[Falcon Coupe]

Originally Posted by BENT_8

The XA for $92k is something you would expect an entry level investor/ enthusiast to afford, more desirable. What are the specs, big port? toploader? as compared to the XB which passed in early.

The XB was a sedan, coupes have a slight premium over them.

[BENT_8]

Originally Posted by Falcon Coupe

The XB was a sedan, coupes have a slight premium over them.

Yes, but a clean bigport manual sedan would be just as desireable to an investor as an auto coupe is to an enthusiast.
Which is why i asked of the specs.
If the coupe is bigport manual then it too would be good entry level stock for an investor at that money.

[Falcon Coupe]

Originally Posted by BENT_8

Yes, but a clean bigport manual sedan would be just as desireable to an investor as an auto coupe is to an enthusiast.
Which is why i asked of the specs.
If the coupe is bigport manual then it too would be good entry level stock for an investor at that money.

Big port manual coupe was a good entry level investment 5 years ago when i got mine, missed the boat now i reckon.

[HEMI POWER]

Originally Posted by BENT_8

Exactly!
There is a definate trend towards other stuff that still has room to grow, this trend gives strong evidence that the current market is full of investors looking to make a buck quicker than they can at a financial institution.

The GT market has definately maxed and they want to find something to move onto that will have a better chance of providing a good profit.

I doubt there are many enthusiasts amongst them.

The XA for $92k is something you would expect an entry level investor/ enthusiast to afford, more desirable. What are the specs, big port? toploader? as compared to the XB which passed in early.

The XB had a JG34 engine.

[WASP]

As an enthusiast, obtaining an original classic GT is not something that can be taken for granted anymore. Their are limited genuine numbers left and that's not taking into account if you want a particular colour, option or gearbox etc. With this in mind those with the money who are lucky enough to find the one they are after determine it's ultimate value at that time. It's easy to look at a car your not passionate about and claim it does not represent the owners marked value, but say that about a car you are very passionate about, of which you have only limited opportunities to obtain, both now and even more so in the future.

Personally I hate seeing these cars go to investors that are not car enthusiasts. I understand why it happens of course but it just doesn't sit with me well.

[Auslandau]

The investment boat has sailed. THose who did purchase 5 years ago, most didnt expect that it would turn out like it has. Purchasing a $300,000 house rented is a way better option over a GT. Its only those with more money than sense are parting out these ridiculous prices, but if they have it and want it why not. If there is a down turn, toys start appearing on the market real quick!



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[GK351]

Originally Posted by auslandau

If there is a down turn, toys start appearing on the market real quick!

The next 6 months will be a good indication of that.
Alot of people have purchased their toys through refinancing their home loan,
somethings got to give when interest rates take the hike again.

What will it be? support the family or get rid of the toys.
My guess would be the latter, in urgency and possibly at a loss.

[Charliewool]

Do Shannons charge a "buyer's premium" and add GST like other auction houses?... Buyer's premium is usually 12.5% + 10% GST which adds nearly a quarter again to knock-down price.

[andrewts]

Sorta off topic, but who knows what Jeff Kennett's Mercedes sold for, and the Silver Bentley?