Bad omen for the value of 69 M-Code Cudas
as many of those here on FABO may know, the 69 M-Code 440 Cudas are the most valuable of all 67-69 Barracudas produced. i have a 340 68 Barracuda and a 69 383 Cuda, but always wanted a 69 440 M-Code. about a year ago, i was finally able to acquire one.
i've watched the market for the M cars for at least 5 years. by around 2012 after the "2008 Recession" had finally ended somewhat, i started to see 69 440 Cudas showing up at various national car auctions and selling for between $45 and $60k. then around 2015, a B-5 Blue "perfect" fastback from out West sold for a staggering $72k! because of this massive increase in value, i tried to find out more about this car and was able to track down the seller. according to him, the car was the first M-Code Cuda produced. i was never able to confirm that but apparently "someone" thought that particular car was worth a lot more money than all the other M cars out there and shelled out $72k.
in the last two years, the M Cudas have been selling for anywhere from $15k for rusty incomplete cars; $32k for a complete and running example that needs total restoration; and very nice "restored" examples at the auctions going again for between $45k to $60k. at least that WAS the market up to today, July 1, 2017.
the below car was listed on ebay for sale about a year ago as a rusty incomplete car. i bid on the car but did not get it and "believe" it sold for around $15k. then about a month ago the car showed up on ebay again completely restored and in PERFECT condition. the owner had found a LOT of NOS parts and the restoration was top notch. he advertised the car twice on ebay and the highest bid he received was around $50k. he listed the car recently a third time and sold it today for - wait for it - $40300.00! in the prior auctions, he noted that in the $50k auction, the "reserve" had not been met. so given the amount of time, work and hard to find parts he put in the car, i'm sure he had $60k or more in it. i was "stunned" that he let it go for $40k. i'm sure he had a reason for doing that, but given the excellent condition of the car, that price was a BARGAIN!
i hope the market is not collapsing for these cars. i do not plan on selling the one i have but any significant decline in the value of the second generation Barracudas will have unintended consequences for those of us who own them. if the value of our cars drop, there will not be as many restored which means the availability of restoration parts may decline. maybe the M car that sold today for $20k less than it should is just an anomaly. i hope so. here's that car:
as many of those here on FABO may know, the 69 M-Code 440 Cudas are the most valuable of all 67-69 Barracudas produced. i have a 340 68 Barracuda and a 69 383 Cuda, but always wanted a 69 440 M-Code. about a year ago, i was finally able to acquire one.
i've watched the market for the M cars for at least 5 years. by around 2012 after the "2008 Recession" had finally ended somewhat, i started to see 69 440 Cudas showing up at various national car auctions and selling for between $45 and $60k. then around 2015, a B-5 Blue "perfect" fastback from out West sold for a staggering $72k! because of this massive increase in value, i tried to find out more about this car and was able to track down the seller. according to him, the car was the first M-Code Cuda produced. i was never able to confirm that but apparently "someone" thought that particular car was worth a lot more money than all the other M cars out there and shelled out $72k.
in the last two years, the M Cudas have been selling for anywhere from $15k for rusty incomplete cars; $32k for a complete and running example that needs total restoration; and very nice "restored" examples at the auctions going again for between $45k to $60k. at least that WAS the market up to today, July 1, 2017.
the below car was listed on ebay for sale about a year ago as a rusty incomplete car. i bid on the car but did not get it and "believe" it sold for around $15k. then about a month ago the car showed up on ebay again completely restored and in PERFECT condition. the owner had found a LOT of NOS parts and the restoration was top notch. he advertised the car twice on ebay and the highest bid he received was around $50k. he listed the car recently a third time and sold it today for - wait for it - $40300.00! in the prior auctions, he noted that in the $50k auction, the "reserve" had not been met. so given the amount of time, work and hard to find parts he put in the car, i'm sure he had $60k or more in it. i was "stunned" that he let it go for $40k. i'm sure he had a reason for doing that, but given the excellent condition of the car, that price was a BARGAIN!
i hope the market is not collapsing for these cars. i do not plan on selling the one i have but any significant decline in the value of the second generation Barracudas will have unintended consequences for those of us who own them. if the value of our cars drop, there will not be as many restored which means the availability of restoration parts may decline. maybe the M car that sold today for $20k less than it should is just an anomaly. i hope so. here's that car: