I could probably buy a fairly nice, not perfect, Z for the sales commission the buyer paid BaT on the $310,000 final bid.

Dennis

 

 

Just now, psdenno said:

I could probably buy a fairly nice, not perfect, Z for the sales commission the buyer paid BaT on the $310,000 final bid.

Dennis

 

 

Not exactly, what makes BAT so attractive for these premium auctions is that they cap the commission at 5k. So that transaction only had 5k in fees compared to barrett or mecum where it would be 5x that. 

Well, it's worth what the market will pay on any given day.  Probably an unrepeatable result in the near future. as I'd expect to see 5 or 6 similar examples that privateers have been holding onto for years suddenly hit the market simultaneously.  And for every nice example, there's bound to be 50 clapped out examples to also hit the market, all looking to cash in.  If the next 6 top cars all sell for $250K and change, then I'll re-calibrate my expectations.

My personal sense it that this sale wont start such a trend, just due to the large number of vehicles out there,  which should be enough supply to keep average selling prices reasonable ("reasonable" of course being a relative term).    To me, it resembles the euphoria over muscle cars a few years ago, when prices skyrocketed, and then returned to earth. 

Edited January 29, 20206 yr by xs10shl

The owner, an expert in classic cars, apparently, had set his price at $140,000.  Does he just not know what he's doing?  What makes this car worth $310,000?  And over $140,000 to six different people?  For discussion, I don't have a clue.

56 minutes ago, xs10shl said:

Probably an unrepeatable result in the near future. as I'd expect to see 5 or 6 similar examples that privateers have been holding onto for years suddenly hit the market simultaneously. 

I tend to agree, although I don't think there are many S30Z's out there in that condition unrestored. There was a time where these cars were almost worth nothing - especially in North America and there was little incentive to cherish them in this manner. So I'm not sure when we will see a comparable car again? Plus restored vs unrestored are 2 very different kettle of fish..

Can you restore an S30Z to as good as new or even better? Absolutely.. is that what a collector is after? Hard to say.. 

Then again if people are willing to pay this much for a documented Rolex... I guess the sky is the limit?

https://www.9news.com.au/world/rolex-bought-in-1974-auction-price-increases-and-shocks/98c72b0d-075e-428e-8955-f2805cb607d9

What do you DO with a Z you bought for $31?,???.???

Value is based purely on originality and low miles (and what two people thought it was worth). No provenance or celebrity history, no handcrafted limited edition, no purpose-built version like a 432-R. The buyer has zero history on BAT, having joined this month like they came with a purpose. It will be interesting to see if there's any more story to this -- heading to Japan or the Middle East as a trinket for the idle rich?

 

Beta buyer for Jay Leno?

There were four other people at $170,000 or better,  It was a five bidder battle at extreme prices.   Very weird.  carco jumped $26,000 in one bid, from 144 to 170.  Abby normal.

My high side expectation was low six figures. If you had suggested 310k, I would have said you were crazy! An amazing pricepoint for a car that still had some flaws

In my view the reality is this - 2 guys with deep pockets JUST HAD TO HAVE IT!!! Also, male ego backed by plenty of bux equals too much macho. 

Wow, I guess the value of my stash of Holy Grail parts just went up a couple of notches. If buyer wants a set of NOS factory plug wires he should give me a call!     Cheers

How to store your 310k car ...

Edited January 30, 20206 yr by NVZEE

4 hours ago, CanTechZ said:

Wow 310K, to put that in perspective one the guys I work with, pointed me to this. You could afford two of these and have cash left over.

https://vancouver.craigslist.org/van/ctd/d/burnaby-2016-mclaren-570s/7055577873.html

Lol - but the Datsun will fire right up ??