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Re: Great Packards at Auction, PLEASE READ
#21
Home away from home
Home away from home

Wat_Tyler
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Quote:

29tons wrote:
I may bid on a few of these.But as a guy who has had older cars for the past 40 years i have been noticing that young people dont want them. they want 60s and 70s. cars. And alot of the cars i have are starting to go backwards in value.I see cars all the time on websites that people inherit a nice old car they leave it sit outside till its almost junk and then try to sell it. In another 50 years i wonder how many will survive.



These are what my son calls "classics." One day, the CCCA will, too, in all likelihood, unless they want to go the way of the dodo. As for the rest of what whe know and love, who knows?


I do know that we won't be here to see it.

Posted on: 4/1 6:44
If you're not having fun, maybe it's your own damned fault.
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Re: Great Packards at Auction, PLEASE READ
#22
Quite a regular
Quite a regular

packardsix1939
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I was interested in bidding on one of the cars but am having second thoughts after talking to a representative of the auction company. It seems like they can be really tough to deal with. A 22% commission is ridiculous. Southeby's only charges 10% and this outfit is not Southeby's. They are a local auction company who's forte is used industrial machinery and real estate foreclosures. Their commission scale should be a lot lower. I asked about the 4% commission discount, and they told me I would qualify if I paid in cash. So, I asked, suppose I submit a winning bid and the amount due is $50K. You want me to drop off $50K in actual U.S. currency? I would not want to do this. You could get killed carrying around that kind of money. Not sure why, but you don't qualify for the discount if you pay via wire transfer. Plus, they will charge you an extra fee for a wire transfer on top of the commission. Not sure I feel comfortable with this arrangement. Did anyone on this forum buy a car from the prior auction? How was your experience?

Posted on: 4/1 10:56
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Re: Great Packards at Auction, PLEASE READ
#23
Quite a regular
Quite a regular

David Patla
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I agree, the commission is the highest I've ever seen, and also agree on carrying that amount of cash, they'll kill you for a lot less than 50K. I'm sure it's also a hazzle getting that much cash from a bank?

Posted on: 4/1 12:01
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Re: Great Packards at Auction, PLEASE READ
#24
Just can't stay away
Just can't stay away

Mike Chirco
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I bought six cars from the last auction. I agree the fees are a little on the steep side, but they did accept the wire transfer as cash. It may have been from my complaining, but I found them easy to deal with.

Posted on: 4/1 14:07
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Re: Great Packards at Auction, PLEASE READ
#25
Quite a regular
Quite a regular

packardsix1939
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Mike: Thanks for the information. Can I ask you which lots you purchased at the first auction? I wanted to track down who purchased the 1938 120 Convertible project car, just to find out what their plans were. I really love the 1938 and 1939 120 series cars and this was sort of my dream car, especially as it was a '38 and not a '39 like my Six with that balky column shift. But I'm just not equipped to take on a project like this myself. That car looked pretty rough. I hope that whoever bought it will be able to give it a full restoration. I'd hate to see it just parted out.


I'll consider putting in bids on the car I'm interested in. I really like the 1939 Rollson limo. The 1937 120 Convertible looks really nice too, but I'm afraid it will go for way too much money. Any consensus here on what would be a reasonable bid for either of these cars?

Posted on: 4/1 15:33
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Re: Great Packards at Auction, PLEASE READ
#26
Home away from home
Home away from home

Tim Cole
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22% for doing nothing, knowing nothing, and having nothing at risk is how we are making America great again.

I think that 22% stuff comes from the situation where real estate sharks move in and buy properties for cents on the dollars, so who cares about the sleazebags handling the merchandise?

Of course those people are awful to deal with, their business is sleaze and the "economists" call that a "product".

Posted on: 4/2 8:35
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Re: Great Packards at Auction, PLEASE READ
#27
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flackmaster
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The 37-120 conv.coupe should bring strong money as the market always likes these.
The Rollson is a honest original car thats never spent a night outside. Definitely a straightforward car. I've known it since the 70's when it was with its prior owner, then Louis bought it.

If you have the time/interest, the 37-120 conv.sedan is similarly worthwhile. I had it in the shop that restored one of mine, and only got it so far along before the shop closed and had to pack it up an its been on the back burner since. Chassis/mechanicals done, runs great, and the body is sweet sweet sweet. Everything is packed in the car, etc.

Posted on: 4/2 11:11
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Re: Great Packards at Auction, PLEASE READ
#28
Not too shy to talk
Not too shy to talk

Packard Joe
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I would like to have one of those 54 Two Door Pacific's, perhaps #21 because of the hood but can't pull the trigger. The auction premium and shipping keep my bid-now finger hovering. Hope these find good homes.

Posted on: 4/2 12:18
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Re: Great Packards at Auction, PLEASE READ
#29
Just can't stay away
Just can't stay away

point
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if that was my 37 coupe conv, if it doesnt bring good money, i would pull it from the auction or bid it up myself, there is one on ebay now at 70k or obo , u just cant give it away, common sense ,very nice car ,even a rumble seat

Posted on: 4/2 17:20
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Re: Great Packards at Auction, PLEASE READ
#30
Home away from home
Home away from home

ewrecks
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I wanted to ad a comment to Howard’s note about the arrival of the electric car era and the impact on the collector car hobby.
There is no doubt that the electric cars are not a fad. Several European manufacturers have announced that they will no longer offer traditional gasoline or diesel vehicles by the end of the decade.
I leave it to others to debate whether the transition will improve the environment.but there is no doubt that we will see more of the vehicles and will see the replacement of the gas stations with charging stations.
I guess the transition will be much like the changes experienced early in the 20th century when horses were replaced by motor vehicles.
As vehicles have become more complex and dependable, we have seen the decline of the service station with mini marts offering fueling.
I am more concerned with the impact that self driving vehicles will have not only on our hobby but on our economy at large.
Currently there are several companies testing self driving vehicles in the Pittsburgh area in coordination with Carnegie Mellon.
I am told that there are beer trucks being loaded by robots in Colorado and then leaving the depot without a driver.
How rapidly the vehicles will progress to regular use is also a matter of speculation but I anticipate that it will be faster than we think.
The impact of self driving vehicles will have impact on our lives and economy that are going to be dramatic. Occupations like bus, truck, and cab drivers will be eliminated , but auto ownership in urban areas may become less attractive if you can summon a transport from your phone, give a voice command for your destination and relax.. a charge will appear on your next credit statement. With the cost of new vehicles, insurance rates and parking difficulties…why own a car.
The unintended consequences are more subtle. The Justice system will see less need for police and attorneys to deal with DUI cases since no one will be driving impaired. The insurers will not have to deal with a volume of vehicle accident claims and we may be seeing less billboard and TV ads for accident attorneys.
The pressure on the legislators to remove gasoline vehicles from the roads will be magnified when the classic cars share space with the self driving modules.
I am also too old to worry about these changes having much impact on me,but I see a time where it will be difficult to operate the classic cars in the fashion we have come to enjoy. It is already difficult to find anyone to work on the old cars or to find compatible fuel. The insurers will increase the costs to cover the loss of business occasioned by the reduction in ownership and environmentalist will continue to pressure for removal of the gasoline vehicles while fuel cost increases will make the joy ride more expensive.
We who have.spent most of our lives in the eight decades since WWII have seen dramatic changes in our lives and economy effected by computers, the internet and technology but have been blessed with a relatively safe and stable life that has allowed us to secure and enjoy the collector cars discussed on this
forum.
It is uncertain that the next generations will fare so well.
I plan an trying to enjoy my cars while I can and hope that progress does not cut off my enjoyment before age and physical deterioration curtails my activity.
Sorry for the rant.
RJR

Posted on: 4/3 10:10
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