Author Topic: Where did the 53 Eldo post go?  (Read 866 times)

Offline The Tassie Devil(le)

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    • CLC Member
      CLC Member #18992
  • Name: Bruce Reynolds
Re: Where did the 53 Eldo post go?
« Reply #20 on: December 31, 2017, 07:33:46 PM »
G'day Quentin,

In response to your last post, which I again removed, i did email you regarding the initial deletion this morning as soon as I deleted it.

If you did not receive the email, then you are using a different email address than the one posted against your profile.

A link to a 1 1/4 hour video of Jackson Pollock has nothing to do with the subject of the '53 Eldo in question.

Bruce. >:D
'72 Eldorado Convertible (LHD)
'70 Ranchero Squire (RHD)
'74 Chris Craft Gull Wing (SH)
'02 VX Series II Holden Commodore SS Sedan
(Past President Modified Chapter)

Offline johnregrus

  • Posts: 33
    • CLC Member
      CLC Member #27684
  • Name: John Michaud
Re: Where did the 53 Eldo post go?
« Reply #21 on: December 31, 2017, 08:11:28 PM »
I think it is cool he thought of our organization as good place to expose the available car.  The selling process was just starting after all.  A '53 Eldorado is an upper eshelon car in the whole hobby, not just the Cadillac world.

The collector crowd for this car will understand what it is and how hard they are to do and most likely not their first or 10th car restored.  So a smart and well to do pool of people will determine what the value of it is, and most likely very quietely so we won't know unless they are our close friends.

Unknown '53 Eldo's come out of darkness once every 2 years or so and with each one, the likelihood of another gets a lot smaller.

These cars have a long track record in the collector world and I agree with Quentin that they are very undervalued.  So the long view would be these cars have good legs from an investment perpective.

The initial pricing seemed high to me as well, but what do I know about '53 Eldo's other than they are in the same league as the Eldorado Brougham's and I do follow those pretty close.  Maybe that complete car with rust is not a 97k car, but it could be 85k car...  Whatever the number, it will be most likely be higher than the entire car cost and restoration budget for the majority of cars discussed here.

The national CLC provides this site and the least we should do is promote the club to potential new members with a positive experience.

David King

 Noted collector Neil DeAtley passed away this past late summer and his 1953 Eldorado is going to be auctioned at Barrett Jackson in Arizona later this month. A very nice car that as I understand it has never been taken apart and has absolutely no rust. I'm anxious to see what it brings.
1958 Series 62
1956 Eldorado Biarritz

Offline Quentin Hall

  • Posts: 1244
Re: Where did the 53 Eldo post go?
« Reply #22 on: December 31, 2017, 08:29:30 PM »
Bruce, I respectfully disagree and point to the parallels brought up in the video which is all about the perceived value of a previously unknown artwork.
That is why I thought it prudent to post so that my friends could share in it.
Perhaps you should watch the first 5 mins and then report back as to whether you agree or disagree with what I said. It has everything to do with a previously unknown 53 Eldorado.
Here is the link once more.
https://youtu.be/7Zxqj2gjigU
« Last Edit: December 31, 2017, 08:31:24 PM by Quentin Hall »
53 Eldo #412.
53 Eldo #433
53 series 62 conv
39 Sixty Special Custom
57 Biarritz

Offline Quentin Hall

  • Posts: 1244
Re: Where did the 53 Eldo post go?
« Reply #23 on: December 31, 2017, 08:42:47 PM »
Here is my current email.
 53eldorado.qh@gmail.com
Ps if everybody looks really hard, at 2.11 there is a 59 Biarritz in the cabinet window.
53 Eldo #412.
53 Eldo #433
53 series 62 conv
39 Sixty Special Custom
57 Biarritz

Offline chrisntam

  • Posts: 1331
  • Dallas, Texas
    • CLC Member
      CLC Member #29206
  • Name: C. Jessen
Re: Where did the 53 Eldo post go?
« Reply #24 on: December 31, 2017, 09:29:09 PM »
Here is my current email.
 53eldorado.qh@gmail.com
Ps if everybody looks really hard, at 2.11 there is a 59 Biarritz in the cabinet window.

Clearly, Cadillac related!

 ;)
1970 Deville Convertible  MTS 507
Dallas, Texas

Offline Quentin Hall

  • Posts: 1244
Re: Where did the 53 Eldo post go?
« Reply #25 on: January 01, 2018, 12:38:28 AM »
Some randoms  from my phone to keep you all entertained. Note the prototype with flat belt line and Carson top.
53 Eldo #412.
53 Eldo #433
53 series 62 conv
39 Sixty Special Custom
57 Biarritz

Offline Quentin Hall

  • Posts: 1244
Re: Where did the 53 Eldo post go?
« Reply #26 on: January 03, 2018, 01:43:25 PM »
A few nice period pics surfaced on Facebook this week that I havenít seen previously.
« Last Edit: January 03, 2018, 01:59:25 PM by Quentin Hall »
53 Eldo #412.
53 Eldo #433
53 series 62 conv
39 Sixty Special Custom
57 Biarritz

Offline jackscad

  • Posts: 3
  • Name: Jack M. Ehoff
A few More of a 53 Eldorado
« Reply #27 on: January 03, 2018, 04:42:41 PM »
Red 53
« Last Edit: January 03, 2018, 04:45:02 PM by jackscad »

Offline Duncan Fox

  • Posts: 49
  • Name: Duncan Fox
Re: Where did the 53 Eldo post go?
« Reply #28 on: January 04, 2018, 03:33:27 PM »
I was really enjoying that post, the classic dilemma, buy and restore or buy one that is original  or done at a much higher price.
I don't care what anyone says including Quentin, but the price of those cars is slowly coming down to earth, while the price of restoration just keeps going up.

I like Richard and Quentin was enjoying that post and waiting to see where it went. I didnít expect it to disappear though.
It was a healthy discussion on why what I thought was a fire damaged  53 Eldo that had been left out in the junk yard unprotected to rot then ďsaved ď by someone who obviously never loved it enough to repair it, but now thought it to be worth almost a 100k. Things have moved on as Richard has eluded to. The prices of these cars and indeed  most 50ís Eldos in general has remained static as mentioned by Quentin. However parts exclusive to them have  reached new heights further adding to the restoration costs of basket cases as presented on this thread. The high end of the price range quoted is a 100 point concours car, and to turn our subject vehicle into that would require IMO at least $250 K resulting in a $350 investment. So even the average resto would gobble up $150K and the figures again just donít work at $97K purchase. An average car isnít worth $250K in todays market it would seem
 For years a good quality American collector car that fell into the  rule of thumb of low production , expensive when new, sporty,  first of series  last of series etc performed well at about 10% per annum gain. I havenít seen that for some time now.  NCRS quality mid year Corvettes struggle to get what they did 10 years ago. The US domestic collector car market in general has flattened off. Indeed it appears that the whole market has changed drastically of late. The big money is being invested elsewhere. European exotics ,  one off resto rods with late running gear are commanding prices way above their stock restored siblings Many older private collections have been broken up and scattered around ,combine that with cars that were once thought of as parts cars being  rebuilt and flipped on because the huge aftermarket parts  structure supplies everything to achieve that and you create a watered down marketplace and prices go soft.
So every 53 Eldo that comes out of the woodwork and is rebuilt by craftsman like Quentin further erodes into that particular market, and as a result it continues to remain flat or slowly sink as it has for at least the last 5 years with the exception of a spike in 2016 if there are more cars than buyers, and there are always 53 Eldos for sale. 59 Eldoradoís havenít performed well lately either IMO despite all the hype around them they appear to have  flattened out  also.
 My 28 Model A roadster is another example , today it is not worth restoring, I would invest almost twice its current value into it  and over capitalise it  . Iím better of just keeping it running without altering its patina In fact restored cars have become so cheap they are being used as donor cars for bodywork for a younger generation of Hot Rodders filling the void left by older owners.  There are running restored complete chassis all over the internet  that almost cant be given away. I mentioned Patina there is another trend appearing across the whole spectrum due to rising restoration costs. We see this in the Cadillac world, once that was unheard of.
Look at the 53 Corvette  as an example,  Americas first sports car. Why would a heavily disguised  6 cylinder powerglide 53 Chevy sedan  be worth $100k more than a concours 53 Eldorado ? Americas finest car.  Because the market perceives it differently than us. An Eldo isnít exciting it doesnít look like a sports car, it was always an older or wealthy mans car in period.  Their production figures were similar, so are their survivor rates but the Corvette has always been the better performer financially.
Then throw in all the late model muscle, offerings the ďcollector this and collector thatĒ Corvettes Mopars Mustangs and even Cadillacs and a whole other chunk of potential collector car investment dollar is sucked up.
SoÖ.IMO, the market place is changing , restoration costs are climbing by the day, and a badly rotted but otherwise not too bad  53 Eldo just isnít worth $97K , especially when we donít even know if it had all its parts with it. A hundred thousand dollars buys an awful lot of restored car nowadays.
 It used to be it didnít matter what you spent , it was recoverable eventually. I donít believe that to be the case any more.  Like Richardís 59 Biarritz which I sold him years ago  you have got to love and want  the car so much that it doesnít really matter about the money......or does it? 
« Last Edit: January 04, 2018, 03:35:30 PM by Duncan Fox »
1930 V16 roadster
2005 CTSV

Offline Quentin Hall

  • Posts: 1244
Re: Where did the 53 Eldo post go?
« Reply #29 on: January 04, 2018, 04:05:02 PM »
I sometimes look at my body and calculate that Iíve spent $450 000 on food and alcohol over my lifetime  to get it to this point and ď this is how it looksĒ ?!?
Gym membership  and the time alone to repair my body would surely cost more than the likely chance of anyone wanting to spend their valuable time to spend the rest of their days with me. Iím spent.
I should have fasted and had I put that same money into bit coins a mere 18 months ago I would now own all the money in the world. Hindsight.
53 Eldo #412.
53 Eldo #433
53 series 62 conv
39 Sixty Special Custom
57 Biarritz

Offline Bobby B

  • Posts: 1748
  • Mendham, New Jersey
  • Name: Bob Bender
Re: Where did the 53 Eldo post go?
« Reply #30 on: January 04, 2018, 04:41:34 PM »
Duncan,
 A nicely written and logical piece. Parts prices for my '47 will also give you heart failure. It's a shame, because the car isn't worth 1/2 of what it was  less than 10 years ago. Just have to enjoy it and forget about the rest. And I also don't get the Resto-Mod thing, but to each his own. There were so many ships I could have jumped on years ago, but just thought they were fads, including "Bitcoins". Man, I'm just always last to the party   ::)
                                         Bobby
1947 Cadillac Series 62 Convertible Coupe
1968 Mustang Convertible
1973 Mustang Convertible
1969 Jaguar E-Type Roadster
1971 Datsun 240Z
1979 H-D FLH

Offline Duncan Fox

  • Posts: 49
  • Name: Duncan Fox
Re: Where did the 53 Eldo post go?
« Reply #31 on: January 04, 2018, 04:44:12 PM »
I sometimes look at my body and calculate that I’ve spent $450 000 on food and alcohol over my lifetime  to get it to this point and “ this is how it looks” ?!?
Gym membership  and the time alone to repair my body would surely cost more than the likely chance of anyone wanting to spend their valuable time to spend the rest of their days with me. I’m spent.
I should have fasted and had I put that same money into bit coins a mere 18 months ago I would now own all the money in the world. Hindsight.
Only Quentin Hall could have come up with that reply.... :)
1930 V16 roadster
2005 CTSV

Offline Bobby B

  • Posts: 1748
  • Mendham, New Jersey
  • Name: Bob Bender
Re: Where did the 53 Eldo post go?
« Reply #32 on: January 04, 2018, 04:46:03 PM »
Only Quentin Hall could have come up with that reply.... :)

Yes, of course.... >:D
                        Bobby
1947 Cadillac Series 62 Convertible Coupe
1968 Mustang Convertible
1973 Mustang Convertible
1969 Jaguar E-Type Roadster
1971 Datsun 240Z
1979 H-D FLH

Offline Quentin Hall

  • Posts: 1244
Re: Where did the 53 Eldo post go?
« Reply #33 on: January 05, 2018, 12:29:46 AM »
I donít have to worry anymore. This just got this texted to me. I donít even remember buying them. How lucky am I ?
My deposit on the Eldorado!!!
53 Eldo #412.
53 Eldo #433
53 series 62 conv
39 Sixty Special Custom
57 Biarritz

 

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