Is there a high water mark?

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Is there a high water mark?

Postby JPhil » Mon May 22, 2017 12:12 pm

So I'm watching another auction the other day and I see a '66 K code GT fb sell for $75k.
I don't put much stock into auction sales as they generally do not reflect the true market. (Although brokers would argue that. :P )

Anyway, it got me thinking...

Many cars have that "high water" mark that others are compared to. Shelby's have "R" models etc, Is a Cobra a 289 or a 427 etc, Boss cars seem to be 429's...

See where I am going here?

Is there a high water mark for K codes?

I thought for a while about including concours cars versus others but in reality, the cars are the same it's just the amount of money poured into them that stands apart.

Also, while on the subject, if some of these K cars are getting that kind of coin, where does it push cars like the Perkins 4,000 mile K code non GT FB or the Florida 13,000 mile K code GT FB (both with significant provenance and originality) up the value ladder?

Does the stigma of "it's not a Shelby" limit these cars to always be below that market?


Thoughts?


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Re: Is there a high water mark?

Postby zray » Mon May 22, 2017 4:06 pm

JPhil wrote:"...... Does the stigma of "it's not a Shelby" limit these cars to always be below that market?

Thoughts?

JP




In a word, yes. But I wouldn't call it a stigma. As long as the Shelby market is moving up, then the limited edition Mustangs like the K code, Boss 302, etc. will move up as well. The Shelby's have race history which helps too. A Shelby won SCCA championships, twice I believe. That glory rubs off on the street Shelby's.

There will always be exceptions. A rebody, or rust bucket Shelby might sell for less than a concours K code, etc.


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Re: Is there a high water mark?

Postby JPhil » Mon May 22, 2017 5:40 pm

Your point is well taken Z. I used stigma solely because these cars are compared to a Shelby as a Lesser car. Not always as a negative, but more as a desirability measure.

I do agree though that a rising tide lifts all boats.

With that in mind though, do cars like the ones mentioned carry more "value" than a restored example?
How do you place a value on cars like these over/under those we actually selling at high dollars?

I guess then my question is this. If K codes like the one that just sold at auction brings 75k, what does that imply the value of cars like these two k's would be?

Also, does the value in turn also raise the likes of a Shelby?

Thanks for taking my call, I'll hang up and listen. :mrgreen:

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Re: Is there a high water mark?

Postby C6ZZKGT » Mon May 22, 2017 8:02 pm

JPhil wrote:So I'm watching another auction the other day and I see a '66 K code GT fb sell for $75k.
I don't put much stock into auction sales as they generally do not reflect the true market. (Although brokers would argue that. :P )

Anyway, it got me thinking...

Many cars have that "high water" mark that others are compared to. Shelby's have "R" models etc, Is a Cobra a 289 or a 427 etc, Boss cars seem to be 429's...

See where I am going here?

Is there a high water mark for K codes?

I thought for a while about including concours cars versus others but in reality, the cars are the same it's just the amount of money poured into them that stands apart.

Also, while on the subject, if some of these K cars are getting that kind of coin, where does it push cars like the Perkins 4,000 mile K code non GT FB or the Florida 13,000 mile K code GT FB (both with significant provenance and originality) up the value ladder?

Does the stigma of "it's not a Shelby" limit these cars to always be below that market?


Thoughts?


JP


Here is an example, although a Corvette and NOT a Mustang or Shelby, that shows what a low mileage, 8,533, unrestored car can bring at an auction. This car sold for $675,000 which is far above any other 67 Corvette 435 horse car that I have ever observed. I wonder what this will do to the pricing on other 67 Corvette 435 horse cars in the future. I could be wrong but I believe this one set a new high water neck in that circle.

https://www.mecum.com/lots/SC0517-28306 ... tte-coupe/

-Fred-
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Re: Is there a high water mark?

Postby zray » Mon May 22, 2017 8:35 pm

Personally I prefer unrestored cars, and I'm not particular about the miles. Restored cars have a rabid following, and some of those people will spend a lot more money that I would for a car full of reproduction sheet metal.

As far as specific values go, I'm in the dark on those.


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Re: Is there a high water mark?

Postby JPhil » Tue May 23, 2017 6:55 am

Purely hypothetical here:

So if a '66 Shelby sells for $135K-$150K range, does that set a ceiling for similar cars?
Does the $75K car just sold, that was not "correct" also set a measuring point?
Does a "correct" concours, everything date coded, original as it was made K code restoration fall somewhere between the two?

Finally, (using the two K codes as examples again), if one of those cars were to sell at or near what an average '66 Shelby is currently going for (135k-150k) does that in turn cause a ripple upward into the Shelby market? (Similar to Fred's Corvette reference)

Again, I'm just using these two cars as examples because they are well know examples of '66 K codes with verified originality and provenance therefore not subject to a lot of "what if's."

Thoughts?

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Re: Is there a high water mark?

Postby SixT5HiPo » Wed May 24, 2017 9:11 pm

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Re: Is there a high water mark?

Postby zray » Thu May 25, 2017 3:45 am

That company is just like the St Louis Car Museum

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Re: Is there a high water mark?

Postby C6ZZKGT » Thu May 25, 2017 9:21 am

SixT5HiPo wrote:http://www.ebay.com/itm/272684066540?ul_noapp=true


That is high for a 67 GT350 but maybe not that far out of perspective as they have hovered in the 100,000 range lately.

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66 K GT Fastback Signal Flare Red / Black Pony Interior
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Re: Is there a high water mark?

Postby 6T6Mustang » Thu May 25, 2017 1:42 pm

Slight tangent since now we're on the subject of Shelbys and not K codes... The green car on ebay is serial number 4 and it seems like the early 67 350s do command a slight premium, though I don't think the asking price is wildly out of line. I haven't seen a non-project 67 350 sell for less than $100k for quite a while.

This car albeit a rare color for 67s seems priced considerably high in comparison. I don't see the color alone being worth a 35%+ premium. https://newyork.craigslist.org/wch/cto/6126637400.html
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