72 "converted" 4x4 sold for $79,000 at BJ

[skrenly]

This seller was probably bummed out.

Not every seller makes money.

http://www.barrett-jackson.com/Event...-PICKUP-189000

[dubds10]

Originally Posted by skrenly

This seller was probably bummed out.

Not every seller makes money.

http://www.barrett-jackson.com/Event...-PICKUP-189000

They expected a bit more but their other truck brought in more than expected.

[Rabe]

That's a bit more realistic!

[Rabe]

Originally Posted by skrenly

This one looks reasonable for auction prices

http://www.barrett-jackson.com/Event...-PICKUP-191220

Sorry,meant this one!

[Grumpy old man]

I keep saying, Buy them now boy's ! I'm looking at and buying trucks I'll never build .putting them up "in the dry" as it's explained in these parts . Better than money in the bank !

[joeydurango]

Not telling you what to do, Grumpy, but isn't that part of the problem? Reduced supply in response to artificially inflated prices just makes those prices even more artificially inflated. I can see where you're coming from as an individual trying to make a living in the world, but for people just trying to get into the hobby for it's own sake and not as a money maker, having builder-quality trucks locked up in barns as "savings accounts" is a real bummer. Just a thought - not ragging on you, just thinking out loud...

[67 chevelle]

I saw a big block 67 vet go for 75,000 . 80 trans am go for 100 ,000. It depends on whos biding , 2 wealthy guys that want it , is a sellers dream , they serve alcohol at these events .

[Big Kev-O]

If you are rich guy with 80k to burn it probably more about getting a truck that is to your liking vs. actual value. Now your average guy like most of us wouldn't pay half that without feeling we got ripped off.

That messed up door paint does look stupid.

[67 cst swb]

Great! Now the price that everyone is asking on craigslist and other For Sale sections just went up another $10,000. There goes Barrett-Jackson ruining the real world again.

[davepl]

Originally Posted by EARNHARDT#3

I don't think it's cheaper than building it. If it was built with all NOS parts then maybe. But with Chinese repop parts, nah.

I think I have about $35K in receipts from LMC, Brothers, and vendors. Stack $10K on for chrome (GMC) and stainless and paint supplies, you're at $45K. Add the $5K I spent on the truck, that's $50K before labor.

It comes down to choices.

1) A new center AC vent
2) Rechrome the center AC vent
3) Why on earth would I do more than clean it?

It -should- be #2. Even I settle for #1 if its a good repro. But you can build a truck cheap with a lot of (3)s. But then you have pitting on your vents. Like I said, it totally depends on the level you're building to.

I can build you a not bad cheap truck too. I just don't build them that way.

[Nitis]

Well there lies the question how does one know exactly what's been put into these high dollar trucks?

And how much does that matter?

Dave you do those things because they matter to you. Me I'm fine with repop or refurbished cleaned things on my build because I want a driver not a showpiece. And there's nothing wrong with either route.

[davepl]

Originally Posted by Nitis

Well there lies the question how does one know exactly what's been put into these high dollar trucks?

And how much does that matter?

Dave you do those things because they matter to you. Me I'm fine with repop or refurbished cleaned things on my build because I want a driver not a showpiece. And there's nothing wrong with either route.

Agree entirely. I'm operating under the presumption that the truck was built to that level, and hence the price. I'm also not saying one is better than the other - building an "as new" truck that you then drive doesn't make a ton of sense (unless, like me, you daydream about time travel so you can buy the truck optioned how you'd like it).

If it was just a nice truck you would normally buy for $35K on eBay and a couple of buyers got carried away, then it's as bad as some people think.

Thing is none of us were there to inspect the truck, so blanket statements about overpaying aren't grounded on any facts. It could cost that or more to build. It could cost less. It could be worth way more or less.

Probably less.

Edit: I forgot option (4) above, NOS vent. I did a bit of that, but this particular truck didn't warrant an NOS-fest.

[blue 72 gmc 4x4]

Originally Posted by 70cst

To me it shows that these trucks rock and these trucks are starting to really catch on

Exactly, look what happened with the muscle cars.

[yfs200p]

I have a freshly restored 1972 K10 SWB that unlike this one, is an original 4wd truck, and the two tone is painted correctly. So mine is actually better than this one and in that case, I can't see getting a penny less than $90k when i decide to sell...

In all seriousness I have mixed emotions about this. It's great in the sense that it shows there are people out there willing to pay big money for these trucks which in turn makes them more valuable.
However,when we all go to buy that next truck, the seller will reference Barrett Jackson and say "you know these trucks when restored can bring 80k" and they ask astronomical prices for something that is just one step up from junk. I can't even find an affordable square body truck anymore that hasn't been beat right to the ground by some teenager. It's depressing really. Oh well I guess I'll just sign with BJ when I need to sell! (Hopefully never)

[leddzepp]

Originally Posted by 67 chevelle

they serve alcohol at these events .

For the same reason they serve alcohol at casinos
A drunk and his money soon part ways

[Malamute]

Tough crowd. Would I have paid that much for that truck? No. That being said, it's not my money and hopefully whoever bought it is happy with it.

As Gary Coleman would say.....Diff'rent strokes for diff'rent folks.

[DLTruck1973]

Originally Posted by Malamute

Tough crowd. Would I have paid that much for that truck? No. That being said, it's not my money and hopefully whoever bought it is happy with it.

As Gary Coleman would say.....Diff'rent strokes for diff'rent folks.

Whatchoo talkin bout Willis

[Malamute]

Originally Posted by DLTruck1973

Whatchoo talkin bout Willis

I'm glad I'm not the only one dating myself by knowing what that meant.

[Grumpy old man]

Originally Posted by joeydurango

Not telling you what to do, Grumpy, but isn't that part of the problem? Reduced supply in response to artificially inflated prices just makes those prices even more artificially inflated. I can see where you're coming from as an individual trying to make a living in the world, but for people just trying to get into the hobby for it's own sake and not as a money maker, having builder-quality trucks locked up in barns as "savings accounts" is a real bummer. Just a thought - not ragging on you, just thinking out loud...

Well...it won't be a bummer for the guy wanting to buy a builder 5-10 years from now thats not rusted to death . I'm not buying them and flipping for twice the price in a week . I'LL WANT 20 TIMES THE MONEY HAHA !. NO really I'm keeping some old metal around for the next builder wanting a solid truck to start with . It's a gamble on the price going up but look whats happened in just the last 5 years . think of it this way maybe the next round of guys will want completely stock trucks instead of chopped up ls conversions dropped to the ground with "patina" it's called investing for the future and every truck out there is an investment to be sold someday by the owner his kids or grandkids . heck by 10 years from now they may make them hover on solar power ! banks pay basically nothing in interest on cash someone has sitting in an account whats wrong with investing in some old trucks ? There are dozens of members in here with 3 times the number of trucks I have stashed .1 is just a hobby

[70STOVEBOLT]

I would not pay that kind of money for a truck or car, but I like to drive my vehicles. a lot of people would hate me if I was rich because it would not matter what I had I would still drive it a lot. Even a 71 Hemi Cuda convertible. They were made to drive. Why pay $80K for a truck and sit and look at it?

[Grumpy old man]

Drive them like you stole it , Primping over a garage queen drives me nuts I love nicely built trucks but $80k ? for that I can buy another rental house and leave it to my kids/grandkids future. MY brothers are car guys too one has a few $100,000.00 + Porsches that sit in his garage the other builds and sells 3/4 scale euro kit race cars for a retirement project and sells Huge amounts of race parts ,I don't care for either one ...the type cars the brothers are ok.

[rsmarr1982]

It was converted to 4wd (professionaly) but they never hooked up the hose to the booster for power brakes lol

[Grumpy old man]

Most business licenses cost less than $100.00 once you have one your a professional builder .

[John H.]

"It was converted to 4wd (professionaly) but they never hooked up the hose to the booster for power brakes lol"

I noticed that too, along with the AC, Rad hoses etc. Probably needed pics for the auction book and were pressing to finish.

The 72 CS K20 project I just finished up had $30k in receipts with $0 towards my labor. I actually donated my time (hundreds of hours) for a very close family to ours. I have my own family truck with twice as much in it as it is worth and I don't care.

Moral of the story is begin with the end in mind and build it to the level you want and can afford.

Take your frame off completed trucks to BJ and put in the auction at no reserve and see if you pucker up a bit before the auction ends. You have to remember these sellers signed up last Summer for this auction and watched the stock market decline in the weeks prior hoping to get their investment covered.

Hats off for the buyers willing to put their hard earned money toward their dream and for the sellers to risk their investment without a safety net.

It's all good

[CastIron]

I have been in the auto industry a long time and may see things a little differently than most people. But I have a good understanding on how much it really cost to fix things and do it right. It is possible to spend a huge amount of money to restore a vehicle, but it isn't necessary.

First off, I would never pay retail price for any parts unless I had to. Almost everything can be found cheaper if a person is willing to spend some time looking. Wait for a sale or consider buying used parts. I once bought a truck for $200 that had a power steering pump, steering gear, and an Edelbrock intake and carb that I wanted. The steering parts were repainted with good quality rattle can paint and the manifold and carb cleaned and look as good as new.

And speaking of used parts, it helps to learn how to refurbish things. Not everything has to be new. A lot of smaller parts can be made to look like new with a little work.

These trucks are pretty basic. Almost anybody with a little knowledge can fix most things. And with forums like this there's no reason to not educate yourself and do some of these repairs.

I would try to avoid paying a big shop to do work. If you can't do something yourself, find a small shop (with little overhead expenses) or somebody who works at a shop that is interested in doing side work. Finding the right person to work on a vehicle is probably the hardest part.

A restoration can be done at a reasonable price, it just takes more thinking and more time.