Thursday, January 29, 2009
In the January 16, 2009 edition of the Scottsdale Republic, Gary Bennett of Barrett-Jackson suggested that their auction "appears to be isolated with what else is going on in the world."
Oh, really?
Meanwhile, the rest of the country feels differently about the economy, and car nuts waited with baited breath to see how the auction - somewhat of a barometer of the hobby - would fare. The amount of cars at B-J were down by almost 200 cars, but Craig Jackson & Co. don't have reserves, so a sale was guaranteed . . . even if it was the seller buying his own car back.
The popular cars that mere mortals usually own, such as "blue collar" muscle cars (base 1968-72 GTOs and 383 Road Runners), were much fewer in numbers. Aside of GM bringing in some historical vehicles from their collection, the only force seemed to be the crème de la crème - Corvettes, Camaros, Shelbys and Mustangs, 1950s Chevys, hot rods, and Hemi and Six Pack Mopars. They were down, but not as severe as some of the lesser cars that dared show up.
There's no rhyme or reason why one car does well while another doesn't. Certainly there were some shockers (1968 Barracuda Formula S 383 for almost 70 grand?) but even some Hemis were having problems. Overall, though, the bubble is bursting, especially compared to 2006's peak or even last year's gala.
from:cardomain.com