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Re: Auction: '50 Super Eight, Stillwater, MN, June 6, 2020
#11
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Packard Newbie
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So Steve, back to that '50 Super 8, what IS a realistic price for that car in THAT condition??? Chris.

Posted on: 2020/4/10 17:32
'If you think you can, or you think you can't - you're right!' Henry Ford.
1939 Packard Six, Model 1700
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Re: Auction: '50 Super Eight, Stillwater, MN, June 6, 2020
#12
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Tim Cole
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I'm not trying to be downbeat, but given the present economic situation discretionary asset values are subject to some steep declines. Caution may be in order.

Believe it or not, in late 2019 one of the car clubs asked me for input as to how to manage their sketchy future given the growing income inequality that is having a highly detrimental impact on their ability to stay afloat. I told them there was a tremendous potential for event risk that will bring an upheaval in asset prices. My timing could not have been better!

With all of my spare time, I have been reading Dr. Zhivago. During the Russian revolution diamonds and gold weren't very much, but if you had a winter coat to trade you could get food to eat or fire wood for heating.

As well, the current "economic stimulus" program isn't going to do such as much as it is another attempt to prop up the stock market. What good is money when businesses are shut down? If there is cash floating around there will be less 401k draw downs. However, the balance sheets of the typical American corporation are in such bad shape things are going to get pretty ugly.

Posted on: 2020/4/11 6:57
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Re: Auction: '50 Super Eight, Stillwater, MN, June 6, 2020
#13
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John
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Yeah the way things are you might get that car for a song Chris. Just need to add another bay on your new garage for it....

Posted on: 2020/4/11 10:38
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Re: Auction: '50 Super Eight, Stillwater, MN, June 6, 2020
#14
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58L8134
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Hi Chris

Auctions depend completely on who attends and how badly two bidders want a car or whatever. At this time, Tim makes a good point that discretionary funds are being held back in anticipation of uncertain times. I'd opine this seller couldn't have scheduled his auction for worst time if he hopes for good returns on most of those cars.

My opinion, for what its worth, dependent upon how well that '50 Super runs and looks in person still will attract very little interest. Other that we Packard folks, they are a very low demand car. It might sell for between $1K-$2K, not much more. It probably would clean up decently, the interior has been redone to be functional, not factory correct. As a daily driver, you could have a good time with it, enjoy the stick with overdrive on long cruises.

As the date gets closer, watch to see if its bid up or ignored. If the latter, take a flyer on it if its cheap, have it shipped to you and have fun!

Steve

Posted on: 2020/4/11 11:51
.....epigram time.....
Proud 1953 Clipper Deluxe owner.
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Re: Auction: '50 Super Eight, Stillwater, MN, June 6, 2020
#15
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JWL
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I agree with Tim, it's a good time to be in cash.

Posted on: 2020/4/11 12:10
We move toward
And make happen
What occupies our mind... (W. Scherer)
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Re: Auction: '50 Super Eight, Stillwater, MN, June 6, 2020
#16
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Packard Newbie
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Hey, thanks Tim, John, Steve & John... appreciate your input. I am no financier but it doesn't take a rocket scientist to know this current situation we're all dealing with, WILL have a devastating financial impact. And, in my opinion, for years to come. I was querying 'real value' on that '50, not because I thought THIS particular time would yield a 'down and dirty' crash net on the car, but more wanting to know what you guys thought it was realistically worth in the fair, open market. I am very inexperienced in antique and classic cars and this '39 I have is my first-ever collector car. (not even sure if that is the right name for it! I got clipped for calling it a classic car by somebody, I suppose its an antique!?) I constantly look at the 'for sale' stuff online and know there is a significant disparity in most cases between asking and actual sell-price; sometimes a GREAT disparity if the owner is just fishing or has an over-inflated perception of the value of HIS vehicle. That '50 is a nice enough looking car and I would expect to see it listed at $5-$6K if it were just in the for-sale section, with the guy taking somewhere between $3&$4K if the buyer knew what he was doing and waved cold cash. When you say $1-$2 Steve, that surprises me. Then given the 'here & now' with global recession and all the uncertainty, I imagine it WILL sell very low, and that is too bad for the seller/good for the buyer; but, as they say, 'timing is everything'. Not sure what we should all be buying or selling right now; I know myself, I'm just kind of in lock-down mode and not making ANY moves at this time, rather taking a 'wait and see' approach. Crazy times, that's for sure! Chris.

Posted on: 2020/4/11 18:35
'If you think you can, or you think you can't - you're right!' Henry Ford.
1939 Packard Six, Model 1700
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Re: Auction: '50 Super Eight, Stillwater, MN, June 6, 2020
#17
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Ernie Vitucci
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Good Evening Newbie...You might wish to look on Hemmings.com, and see what the 48-50 cars are listed for. The really nice ones go up into the high teens and even the low twenties. The low end can be right down close to the ground. The site normally has more than a dozen for sale at any one time out of better than 200 Packards in total....Ernie in Arizona

Posted on: 2020/4/11 19:12
Caretaker of the 1949-288 Deluxe Touring Sedan
'Miss Prudence' and the 1931 Model A Ford Tudor 'Miss Princess'
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Re: Auction: '50 Super Eight, Stillwater, MN, June 6, 2020
#18
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PackardDon
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Erie, what they are listed for is not important. It's what they SELL for that matters!

Posted on: 2020/4/11 19:38
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Re: Auction: '50 Super Eight, Stillwater, MN, June 6, 2020
#19
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Packard Newbie
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Thanks Ernie, I DO look at Hemmings quite regularly, probably focus more on the pre-war stuff as that is my core area of interest. I also agree with Don, and like I said in my previous post, the disparity between list and sell can be stark. Also, I watch the online auction action and always check out Barrett Jackson when it's televised. Auctions seem to go either way with some cars going for obviously more-than-market value, while others, one couldn't cover the cost of the paint job for what they hammer at. I know condition is ALMOST everything, along with make, collectability and pedigree, but the 'from-to' on some of these cars is quite remarkable. My initial question on the '50 Packard wasn't really about what those cars are worth as it was about how much THAT one is worth. I realize there is no exact answer and it is somewhat subjective, thus my query here, to seasoned pros who have been around the hobby for many years. Chris.

Posted on: 2020/4/11 23:28
'If you think you can, or you think you can't - you're right!' Henry Ford.
1939 Packard Six, Model 1700
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Re: Auction: '50 Super Eight, Stillwater, MN, June 6, 2020
#20
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Brian Wilson
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Another angle is that most older cars are getting much harder to sell, even in "normal" times.

Ask anybody under about 45 years of age what sort of old car they like. Most will answer 1960s-1970s. Oh, and it has to be automatic because most can't drive a manual. They're less concerned about originality. Hence all the "resto-mods" with modern drive trains, which sometimes attract premium prices.

There's more money around now than in the past, but for different sorts of old cars.

What this means is that there are fewer buyers out there for our sort of cars - except for those which can be clearly classified as "investment" grade. This includes some Packard senior models, particularly coach built or open cars. The value of these cars will usually diminish with regular use, though.

This generational shift is normal, and applies equally to things like vintage race cars.

So what does it mean for us?

Unless you're buying an older vehicle as a major investment, buy something you really like at the right price. Use and enjoy it, recognising that it might not appreciate in value and is unlikely to appeal to your kids/grandkids. And of course, don't tell your wife about this!

Brian

Posted on: 2020/4/12 4:05
1941 120 Club Coupe (SOLD)
1956 Clipper Deluxe (RHD and auto) - for the wife, or so I told her!
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