Pink 70 340 Duster goes for $62K on Mecum
This is why the average guy can't afford to get into or stay in the hobby.all these guys with more money then brains, :icon_fU: :icon_fU:no way in hell that car was worth what they paid..and good luck recouping what you paid:BangHead::BangHead:
Lol. Just because you can't afford it doesn't mean it wasn't worth it, you sound like
@Dan the man
A /6 Duster cloned over to a 340 sold for $62k. A very nice TX9 340 Duster sold for $108k. A concours award 340 Duster sold for $145k. Has the other moulin rouge 340 Duster sold yet? It likely got close to $100k. So, it's not like 1 dude overbid and bought a car way over what it was worth, this is a trend for the entire market. Maybe this particular auction is higher, but it's not out of whack by 50% like people like you seem to believe.
Honestly the guys buying these cars at auction have a MUCH better chance of making money on them. The people that built them lost money. The TX9 car sold for $108k and allegedly had $125k into the restoration. The yellow '71 had $250k into it?! But these cars are still gonna hold value for awhile, and possibly even gain considering the prices the B/E bodies are getting. Hold onto that car for 5 years, sell for 10% more, not a terrible investment. I think using cars as in investment is terrible, but it's not like you're going to stop it.
And yeah, there it is. $145k for a Duster.
Do you know what the moulin rouge '70 340 car sold for? It was supposed to go across the blocks today
double edged sword. more intrest in the cars helps with aftermarket parts. at the same time all these televised auctions have done is raise the prices of rusty junk to stupid levels. definatley not good for the abody part of the hobby. over the years abody guys are one of the most frugal groups out there. way too many complain they want this and that made but when it comes down to buying it they back away..
Yeah I really hate that the uber wealthy use these cars as investments. They drive the whole market up, and IMO most of them aren't really car enthusiasts. Like you buy a '70 AAR with 8,493 original miles, the original TIRES, and you spend like $300k on it. Neat, but no one is gonna drive that car, it's a complete waste. There's an amazing car, that is known as an amazing car because of its performance, that's never performed. Waste.
But, on the flip side, it also means more of these cars are going to be fixed. It means aftermarket support for a lot of them that might not have gotten it otherwise, because there's profit to be made selling reproduction parts. And it means people will spend the money to restore them because there's at least some recoup of funds. Yeah, are a bunch of ads going up right now asking $20k for a rusty hulk that will cost $100k to restore? Yup. But they won't sell (or most won't) and those people want to sell them they'll have to separate the 1 of whatever car that got a zillion dollars at Mecum from their rusty hulk, because they're not the same.
