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Prices are on the rise......

shogun32

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Here are some of the takeaways that I have observed regarding the Mecum Glendale auction and the Barrett-Jackson auction in Scottsdale.
would be interesting to see the model year distribution. I would assume the top 50 were dominated by 60's to mid-70's cars and cars newer than 2000 fetched relative bupkis.
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TDC

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Another 3 trillion will be spent on the next bill. Government is spending money like a teenager who just got an inheritance or insurance settlement...pathetic
 

ice445

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Another 3 trillion will be spent on the next bill. Government is spending money like a teenager who just got an inheritance or insurance settlement...pathetic
QE is much like pandoras box, once you open it, you can't put it back. It's very addictive because in the short term it's very effective. But long term...
 

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As mentioned above, it’s not just the Mustang or cars for that matter, prices are in the rise for most goods. Check out Ferrari chat and see the very same topic and discussion but substitute 458 for Mustang
 

svttim

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In addition to your great comments I suggest that because of COVID-19 pandemic there is a pent up for automotive enthusiasts therefore we are seeing supply and demand at it's best with respect to HP and collectible automobiles.

Here are some of the takeaways that I have observed regarding the Mecum Glendale auction and the Barrett-Jackson auction in Scottsdale.

Mecum - Glendale

* $42 Million in sales over a 3 day event in just their 3rd auction year in The Valley of the Sun.
* 7 of the Top 10 cars came from overseas namely Italy, England or Germany.
* 3 of the Top 10 cars were Ferrari's.
* 7 of the Top 10 cars came with manual transmissions.
* 1 Ford in the Top 10 not including the Saleen S7 which came with a Ford 427 TT therefore seems like their Kissimmee and Indy auctions are where the high end Ford's gravitate to.
* 1 Chevrolet in the Top 10 list.
* Not one Mopar was able to crack the Top 10 list.

Barrett-Jackson - Scottsdale

* $105 Million in sales over 5 days and believe they started in the Valley of the Sun 50 years ago.
* 2 of the Top 10 cars came from overseas namely Italy.
* 2 of the Top 10 cars were Ferrari's.
* 4 of the Top 10 cars came equipped with manual transmissions.
* 5 Ford/Shelby American cars in the Top 10 list.
* 3 Chevrolet's in the Top 10 list with all of them being "Customs".
* Not one Mopar was able to crack the Top 10 list.

Some initial thoughts regarding the above:

* Pristine and well documented HP automobiles are bringing big money such as the L88 Corvette at Mecum and the Ferrari 275 GTB/4 at BJ (aside from the '66 Cobra Super Snake).

* It looks as though many owners of high end European/British exotics seem to be gravitating to the Mecum business model.

* With both Craig Jackson and Steve Davis being enthusiasts/collectors of the Blue Oval Brand along with their long relationship with Dearborn certainly helps attract many high end Ford's.

* Manual transmission automobiles still seem to be the transmission of choice including the likes of the Ferrari and Porsche brand which bodes well for all of us GT350/R owners.

* Suggest that the selling price of Carroll Shelby's '66 Cobra Super Snake would have been somewhat higher had it been a 4 speed transmission car.

* Lastly, where are all of the high end Hemi Mopars both coupes and convertibles?

:sunglasses:
Well done! While top 10 is a great way to look at things what I find interesting is the across the board values. Interesting note, a 70 Gold Boss 302 brings 175 at Barrett while a 67 Shelby GT500 brings a buck and a quarter. Some strange dealings
 
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jvandy50

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As mentioned above, it’s not just the Mustang or cars for that matter, prices are in the rise for most goods. Check out Ferrari chat and see the very same topic and discussion but substitute 458 for Mustang
i was eyeing used trackhawks and gave up after a 10-15k hike, but now everything is up...not just the specialty vehicles
 

oldbmwfan

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i was eyeing used trackhawks and gave up after a 10-15k hike, but now everything is up...not just the specialty vehicles
I was watching those too. They are so stupid, and I want one so bad. But not $80K Jeep bad. Ha.

I think the pandemic has definitely left a whole lot of people with money burning a hole in their pockets. My household typically spends north of $25K on travel annually, and I usually have some <ahem> expenses during track season. But in 2020 we did neither. Two incomes, far less restaurant spending, virtually no travel, no concerts, no parties. All of a sudden the disposable cash piles up fast, and you can tell people going stir crazy want to get out in the garage and play with a new toy. Couple that with the usual spring car value bump, and as the temps go up, so do the prices.

Not just used cars, either: https://www.cnet.com/roadshow/news/average-new-car-price-2020/
 

Inthehighdesert

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That post was interesting, and because of your location of where you live. For us, in northern NM, we actually travelled more. For us it’s a toyhauler and an X3 and Rzr Turbo. In this part of the country, leaving politics aside, similar minded people like us didn‘t hesitate to hit the mountains and the trails.

I was watching those too. They are so stupid, and I want one so bad. But not $80K Jeep bad. Ha.

I think the pandemic has definitely left a whole lot of people with money burning a hole in their pockets. My household typically spends north of $25K on travel annually, and I usually have some <ahem> expenses during track season. But in 2020 we did neither. Two incomes, far less restaurant spending, virtually no travel, no concerts, no parties. All of a sudden the disposable cash piles up fast, and you can tell people going stir crazy want to get out in the garage and play with a new toy. Couple that with the usual spring car value bump, and as the temps go up, so do the prices.

Not just used cars, either: https://www.cnet.com/roadshow/news/average-new-car-price-2020/
 

jvandy50

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I was watching those too. They are so stupid, and I want one so bad. But not $80K Jeep bad. Ha.

I think the pandemic has definitely left a whole lot of people with money burning a hole in their pockets. My household typically spends north of $25K on travel annually, and I usually have some <ahem> expenses during track season. But in 2020 we did neither. Two incomes, far less restaurant spending, virtually no travel, no concerts, no parties. All of a sudden the disposable cash piles up fast, and you can tell people going stir crazy want to get out in the garage and play with a new toy. Couple that with the usual spring car value bump, and as the temps go up, so do the prices.

Not just used cars, either: https://www.cnet.com/roadshow/news/average-new-car-price-2020/
Yep just can't do it right now. I'd understood more had they not done a 21 model...but you can order those currently. I can't fathom paying 80k for an 18 model with 20k miles, when I can order a brand new one for low 90s.

I'd read a Stat a few months ago...used prices across the board were up 10.3%, compared to only 0.3% for new. I was honestly expecting a large msrp hike due to demand, but haven't noticed it...yet.
 

oldbmwfan

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That post was interesting, and because of your location of where you live. For us, in northern NM, we actually travelled more. For us it’s a toyhauler and an X3 and Rzr Turbo. In this part of the country, leaving politics aside, similar minded people like us didn‘t hesitate to hit the mountains and the trails.
Our travel is usually on planes. We did a few short road trips to get outside and get into nature more, but that's far cheaper - pile in the car, drive 7 hours and hang at an AirBnB lakehouse for a few days /= trip abroad. Motorhomes and RVs had a boom year for sure, though.
 

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oldbmwfan

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Yep just can't do it right now. I'd understood more had they not done a 21 model...but you can order those currently. I can't fathom paying 80k for an 18 model with 20k miles, when I can order a brand new one for low 90s.

I'd read a Stat a few months ago...used prices across the board were up 10.3%, compared to only 0.3% for new. I was honestly expecting a large msrp hike due to demand, but haven't noticed it...yet.
New car price increases seem to be mostly mix-driven ... the people buying are people who can afford to buy loaded up SUVs. I read that Bentley had a record sales year.
 

shogun32

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I was honestly expecting a large msrp hike due to demand, but haven't noticed it...yet.
Except the incentives are as thick and heavy as a normal year, and perhaps even higher than baseline?
 
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TommyBoyDIY

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Exactly why I pulled the trigger on one I knew of locally. 2016 oxford white, 10,200 miles. Talked him into $42,000. This car is amazing, absolutely love it.
 

Hack

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What a asinine comment...the 350/R going up are uniquely due to the fact that they are very special cars and nothing to do with inflation as your post imply
Inflation for 2021 is predicted to be 2.1%, which is very, very low
https://www.google.com/amp/s/www.kiplinger.com/economic-forecasts/inflation?amp
I believe that with interest rates at historic lows, the prices are rising on things that people pay for with monthly payments. House values are way up too.

Don't get me wrong, I think the GT350 is on a short list of the best cars ever and anytime is a good time to buy one. I just think that some people who normally wouldn't buy one can afford the payments now.
 

MikeR397

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What a asinine comment...the 350/R going up are uniquely due to the fact that they are very special cars and nothing to do with inflation as your post imply
Inflation for 2021 is predicted to be 2.1%, which is very, very low
https://www.google.com/amp/s/www.kiplinger.com/economic-forecasts/inflation?amp
That’s cute you think inflation is 2%. Have you looked at the price of say, ANY commodity over the last year? Hell even GM was on the news lately saying the core material cost of their vehicles is up significantly.
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