Cadillacs at Auction

[Mike Josephic CLC #3877]

The selection of 60's and 70's Cadillacs present was not
very good.  That's why the prices were in the $2-$5k
range for most of them.

Especially with the 70's cars, most had obvious issues
with rust, poor paint and vinyl tops, worn interiors.
Some were not even detailed prior to the auction.

Some had obviously dirty interiors and were not
even cleaned.

It's as if the owners just wanted to get a quick buck
and unload them.  I didn't see any "pristine originals"
or restored examples in this group.

The 70's cars, in general, are not being restored as of
yet because the market values have just not come up
to the levels that most people feel justifies the expense.

I think this will change with time -- they are just not
"old enough" as of yet. 

One of the oustanding examples I saw today was a '57
Eldo convertible that sold for $132k -- but still just about
half what it costs to restore one.

Mike

[chrisntam]

According to the Mecum results, all the cars ('68 to '76 Cadillacs) on eBay are WAY overpriced.



But didn't a '57 eldo sell for $132K?

 

[Cape Cod Fleetwood]

I guess the only good thing is there will be good deals on Caddy's into the future for those of us that will still collect them.  So much for worrying that high prices will keep people out of the hobby.

And the problem with that is, PARTS. If there's no demand for rotors, script, etc, and you need them, you have to pay telephone numbers for the few that exist since no one is making them. As I'm finding out.

If we were into old Chevy's you could build one from the ground up from a parts book.

\m/
Laurie

[Joe V]

The selection of 60's and 70's Cadillacs present was not
very good....Some had obviously dirty interiors and were not
even cleaned.

Given the limited information that can be garnered from pictures, there appeared to be some decent cars in the mix.  The example attached sold for less than the front fenders, grill and hubcaps would cost if purchased on ebay.  I mean, $2700 for that much car can't just be due to the level of poor detailing.   

[marty55cdv]

  The pictures of the cars were not even on Mecum's site until Monday , most of the cars looked like they had no prep at all, being Wednesday and the first cars going over the block all added to the low prices.     

[Eric DeVirgilis CLC# 8621]

Impossible to assess condition reliably from the photos provided here. The number of images is both limited and without any good closeups and whenever this is done, there's usually a good reason for it. 

There's more to these selling prices than just lack of detailing.

[Mike Josephic CLC #3877]

Quote from Eric Devirgilis:

Impossible to assess condition reliably from the photos provided here. The number of images is both limited and without any good closeups and whenever this is done, there's usually a good reason for it. 

There's more to these selling prices than just lack of detailing.

I did state in my posting that most of these cars
did have "issues" that were easily seen -- even with
the poor photographs. Rust and poor paint & body
work was obvious.  Many were condition 3 cars.

For example, a 1973 Eldorado missing the fender
skirts with a shoddy paint job.

The lack of detailing certainly didn't help -- but that
was not the major issue.

Eric -- what, in your opinion was the major problem
which caused the poor selling prices?

Mike

[Eric DeVirgilis CLC# 8621]

Quote from Eric Devirgilis:
I did state in my posting that most of these cars
did have "issues" that were easily seen -- even with
the poor photographs. Rust and poor paint & body
work was obvious.  Many were condition 3 cars.

For example, a 1973 Eldorado missing the fender
skirts with a shoddy paint job.

The lack of detailing certainly help -- but that was not
the major issue.

Eric -- what, in your opinion was the major problem
which caused the poor selling prices?

Mike

Mike...my response was to the prior suggestion than the [apparent] lackluster sale prices were due to lack of detailing which I disagree with.

The prices reflected the seedy condition of the cars such as you had reported - nothing less; nothing more.

[D.Yaros]

  The pictures of the cars were not even on Mecum's site until Monday , most of the cars looked like they had no prep at all, being Wednesday and the first cars going over the block all added to the low prices.   

I can tell you that when The Gray Lady crossed the block she looked far better than she did in the pics on the Mecum site.  If I was a seller, on seeing those pics I would wonder/question the level of service I was getting from Mecum for the money I was paying.

[D.Yaros]

Having minimal involvement in this auction by virtue of my prior ownership, I feel fairly confident is stating that most, if not all, of the Pratt vehicles were examples of buyer remorse.

Pratt bought The Gray Lady based solely on pics I posted on the web and conversation with me.  There was no prior inspection by him or anyone acting on his behalf.  I suspect that once the car was delivered it did not present as he thought it would/should.

So, move it on to a new owner to make room for more, even if it means taking a loss (which it did here; a significant five figure loss).  When one has money to burn they can do these kind of things!