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Author Topic: WOW! 1959 Eldorado projects sold for what!??  (Read 2100 times)


Offline The Tassie Devil(le)

  • Administrator
  • Posts: 12388
  • CLC Number: 18992
  • Name: Bruce Reynolds
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #1 on: August 26, 2018, 08:52:12 PM »
And then there is the buyers premium to add as well.

Definitely out of my league.

But then, they are getting scarce.

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)

Past Cars of significance - to me
1935 Ford 3 Window Coupe
1936 Ford 5 Window Coupe
1937 Chevrolet Sports Coupe
1955 Chevrolet Convertible
1959 Ford Fairlane Ranch Wagon
1960 Cadillac CDV
1972 Cadillac Eldorado Coupe

Offline Cape Cod Fleetwood

  • Posts: 2500
  • CLC #31411
  • Name: Laurie Kraynick
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #2 on: August 26, 2018, 09:47:55 PM »
2 - 1958 Eldorado Broughams at Mecum Monteray, 1 sold for 110K, the other BGO at 115K.

\m/
Laurie
There are 2 kinds of cars in the world, Cadillac and everything else....

The Present -1970 Fleetwood Brougham

The Past -
1996 Deville Concours
1987 Sedan De Ville "Commonwealth Edition"
1981 Coupe De Ville (8-6-4)
1976 Sedan De Ville
1975 Sedan De Ville

The Daily Driver and work slave -
2008 GMC Acadia SLT *options/all

Offline 59-in-pieces

  • Posts: 1472
  • CLC Number: 17326
  • Name: S. Butcher
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #3 on: August 26, 2018, 10:31:19 PM »
OH, YE OF LITTLE FAITH.
Squirrely auction (or should I say raccoony) - sort of a no peek behind the OZ curtain - questionable at best.
However, I love the smell of tetanus in the morning, but I have never seen a hood eaten through like that on any car - junk yard, chicken coop, or barn - yikes.
I've bought worse.
As for the Broughams (almost literally hand made), that is one of life's little mysteries, how a car that new sold for more than a Rolls, could be worth so little these days.

Have fun,
Steve B.
S. Butcher

Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #4 on: August 26, 2018, 11:16:25 PM »
Those are rather "crazy" prices for the condition
of those rusty hulks.

If you take the purchase prices, add $2-300k for a
full concourse restoration it makes no sense since
show quality examples can be had for $200--$250k

A 2018 Barret-Jackson sale as an example:
https://www.barrett-jackson.com/Events/Event/Details/1959-CADILLAC-ELDORADO-CONVERTIBLE-217880


Mike
1955 Cadillac Eldorado
1973 Cadillac Eldorado
1995 Cadillac Seville
2004 Escalade
1997 GMC Suburban 4X4, 454 engine, 3/4 ton
custom built by Santa Fe in Evansville, IN
2011 Buick Lucerne CX
-------------------------------------
CLCMRC Museum Benefactor #38
Past: VP International Affiliates, Museum Board Director, President / Director Pittsburgh Region

Offline Bob Hoffmann CLC#96

  • Posts: 5102
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #5 on: August 26, 2018, 11:23:51 PM »
The first thing I would do is to rip those butt ugly wide whitewall tires off the car!! Why would someone think they look correct???
1968 Eldorado slick top ,white/red interior
2015 Holden Ute HSV Maloo red/black interior.
             
Too much fun is more than you can have.

Offline cadillacmike68

  • Posts: 3438
  • Still crusin'
  • CLC Number: 15823
  • Name: M Santos
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #6 on: August 27, 2018, 01:57:57 AM »
Not for me. I'd never get it finished.
Regards,
"Cadillac" Mike

Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #7 on: August 27, 2018, 07:15:44 AM »
I think the buyers premium was 10%......

This was an online auction only....there were no inspections of cars before bidding.....I guess the family didn't want a circus happening on the property.....

I know the restoration process is fun but with completed examples selling for $200K....you have to wonder about the wisdom of these purchases...

Mike

Mike Baillargeon  #15848

Offline Scot Minesinger

  • Posts: 6004
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #8 on: August 27, 2018, 08:54:46 AM »
Yes, this is of course too high of a price from an economic perspective of attaining a show winner they are actually worth zero.  Nice examples of #1 1959 EBZ may go for 250k, and you could not restore these cars to a #1 condition for 250k, so if the goal is a #1 car, the owner would pay the seller to take them if only economics are figured.

I think these were purchased for another purpose.  Or they could have been purchased where the owner will restore them himself to save labor, then it could make economic sense.
Fairfax Station, VA  22039 (Washington DC Sub)
1970 Cadillac DeVille Convertible
1970 Cadillac Sedan DeVille
1970 four door Convertible w/Cadillac Warranty

Offline Barry M Wheeler #2189

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  • Posts: 3489
  • CLC Number: 2189
  • Name: Barry Wheeler
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #9 on: August 27, 2018, 08:56:18 AM »
But honey, it's the one I've always wanted...
Barry M. Wheeler #2189


1981 Cadillac Seville
1991 Cadillac Seville

Offline Dan LeBlanc

  • Posts: 4813
  • Name: Dan LeBlanc
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #10 on: August 27, 2018, 09:00:06 AM »
For some, in a league in a far far away galaxy with deeper pockets than I, the figures proffered here are a mere drop in the bucket.  To those who have the means and money is no object, why not?  These select few really don't care about the cost and the return afterward because, to them, it's just money.  Hard for someone like me to comprehend, but, then again, who am I to judge?
Dan LeBlanc
1977 Lincoln Continental Town Car

Offline Eric DeVirgilis CLC# 8621

  • Posts: 7036
  • Name: Eric DeVirgilis
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #11 on: August 27, 2018, 09:07:36 AM »
Earlier this year a 3x black '59 EBZ sold on eBay in worse condition than the blue car mid-$70K.   

« Last Edit: August 27, 2018, 09:48:59 AM by Eric DeVirgilis CLC# 8621 »
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

INTMD8

  • Guest
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #12 on: August 27, 2018, 12:18:00 PM »
I agree with wow.   Continually surprised with what these bring in that condition.

Offline jaxops

  • Mark Monaghan
  • Posts: 647
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #13 on: August 27, 2018, 02:36:54 PM »
What a dog! Ruff ruff (rough!).   I wouldn't pay that much for that much work.  It's actually sitting on the ground so there may be zero floors.  Quite a roll of the dice.  Not a bad looker though, just a LOT of work.
1970 Buick Electra Convertible
1956 Cadillac Series 75 Limousine
1949 Cadillac Series 75 Imperial Limousine
1979 Lincoln Continental
AACA, Cadillac-LaSalle Club #24591, ASWOA

Offline 59-in-pieces

  • Posts: 1472
  • CLC Number: 17326
  • Name: S. Butcher
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #14 on: August 27, 2018, 03:46:25 PM »
Bob,
Good eyes, if you meant the black B.J. car - should be only 2 1/4" - and it's no Concourse car (very respectable restoration though).

Easy to throw $200 or $300K around if you can't or won't do the work yourself, and based upon that, the conclusions are correct as to a finished value or worthiness.

In reality, the majority of such figures is based on labor, and not parts.
Rebuild the engine, the trans, upholstery, wiring, top, and misc. mechanicals - it might as well be an Olds or Buick etc - the cost is pretty much a given.
However, if all the unique Eldo trim is there, the rest is the love of working with your hands and the pride of a job well done.
Even Geppetto made a real boy from a chunk of wood with his own hands and some tools  - and yes a little Blue Fairy Dust - can't make it sound too easy or everyone would do it.

Have fun,
Steve B.
S. Butcher

Offline novetti

  • Posts: 90
  • Name: Julio Novetti
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #15 on: August 27, 2018, 09:57:09 PM »
Looks like expensive starting projects, however coming from the complete utter madness currently happening with VW splitscreen buses, (some north of three figures), and not counting 356 Porsches these Ritzes look like a bargain.

Look at this shait
https://www.thesamba.com/vw/classifieds/detail.php?id=2092867

I sold all my aircooled VW's and only play with Cad's and Lincoln's now.
As I do all my work actually I saved money trading...

I think no car you will make make money (or brake even) if you have to pay someone to fix it for you. The exeption would be to get plating work for obvious reasons...

I do it for the fun, not for the money.
54' Iris Blue (Preservation)
54' Cabot Gray (Restoration)
58' Lincoln Continental Convertible (Restoration)
58' Ford Skyliner (Preservation)

Offline Bobby B

  • Posts: 2732
  • Mendham, New Jersey
  • Name: Bob Bender
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #16 on: August 27, 2018, 10:51:21 PM »
  To those who have the means and money is no object, why not?  These select few really don't care about the cost and the return afterward because, to them, it's just money. 

Dan,
 Most of those people don't work on their own vehicles, so in that regard, money really is no object if you have it to burn. I know LOTS of people in that situation. But for some hard working people like You, I, and the majority of the people on this Forum, a vehicle in that condition, selling for those numbers, just makes ZERO cents.....
             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 Bobby B

  • Posts: 2732
  • Mendham, New Jersey
  • Name: Bob Bender
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #17 on: August 27, 2018, 10:57:22 PM »
I think no car you will make make money (or brake even) if you have to pay someone to fix it for you.
I do it for the fun, not for the money.

Even if you do All (or most of the work yourself), good luck breaking even on anything in today's market.
I think most of us also share your Views regarding "Doing it for the Love of it".......
                                                           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 The Tassie Devil(le)

  • Administrator
  • Posts: 12388
  • CLC Number: 18992
  • Name: Bruce Reynolds
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #18 on: August 27, 2018, 11:01:00 PM »
Or, they want to own it, just to say that they have it, with no plans to do anything to it.

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)

Past Cars of significance - to me
1935 Ford 3 Window Coupe
1936 Ford 5 Window Coupe
1937 Chevrolet Sports Coupe
1955 Chevrolet Convertible
1959 Ford Fairlane Ranch Wagon
1960 Cadillac CDV
1972 Cadillac Eldorado Coupe

Offline Bobby B

  • Posts: 2732
  • Mendham, New Jersey
  • Name: Bob Bender
Re: WOW! 1959 Eldorado projects sold for what!??
« Reply #19 on: August 27, 2018, 11:09:03 PM »
Or, they want to own it, just to say that they have it, with no plans to do anything to it.

Another good point....Over a Glass of Wine in their Climate controlled 10,000 sq.ft. garage  ::).........
                                                                            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

 

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