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Makes you wonder?

PostPosted: Fri Oct 06, 2017 9:41 am
by JPhil
With the ever rising (and often unrealistic ) prices asked for K codes, I started to wonder where is the high water mark on these cars? Anyone can ask whatever they want for these cars and most informed collectors/buyers would find no shortage of laughable asking prices, but what about those authentic examples?

Do restored (MCA standards) cars drive the market or is the broker/auction house?

Is the market rising in your opinion or are the silly asking prices inflating the market?

If the accepted pecking order is MCA standard cars (driver/occasional driver/ concours/thoroughbred etc) represents the low to high price point in the informed market, where do cars like the famous Perkins hipo non GT fastback and the less public Florida owners hipo GT fastback fall? Do these cars ever sell publicly?

Does the "stigma" of these cars not being a Shelby cap the value always beneath that market or are there exceptions?

Thoughts?

JP

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Re: Makes you wonder?

PostPosted: Fri Oct 06, 2017 7:45 pm
by zray
Last of the above.

My 2 cents:

The upper price for a K code is hemmed in by the lower prices for a Shelby Mustang of any year. Shelby prices have been dropping or stagnant for the last 2 years. I think it's an accepted fact that theShelbys are always going to have more upward potential than the K codes. So a logical minded buyer is going to snap up the low hanging Shelby fruit first.


This is from a post I made on another forum:

for example:

heres a '68 GT500 for 135K ASKING price

68 Shelby GT500 fastback

1969 GT500 for 115K ASKING price

1969 GT500 Sportroof

1969 GT 500 Fastback for 99K ASKING price (and thats from a broker !!!)

1969 GT 500 FASTBACK - Pastel Grey

1970 GT 350 for 65K ASKING price

1970 GT 350 Comp Red/4 Speed

1968 GT 350 ASKING price 65K asking price

1968 GT 350 $65000


point is, no one is going to pay more for a K code than they can pay for a legitimate 1960's era Shelby Mustang, of ANY year ('65-'70) in most any condition . And these cars I've listed as examples are in pretty good condition.

Z

Re: Makes you wonder?

PostPosted: Mon Oct 09, 2017 9:03 am
by JPhil
Agreed.

Obviously the '65 Shelby is in the stratosphere.

So if the "market" for K codes is always going to be less than that of a Shelby, where would you put the Perkins K code? (or other significant K code, and by significant I don't mean a contrived "1 of 1 special paint with left handed ashtray etc. claim)

Having said that, do the others fall below that number? Which type of car sets the bar? A thoroughbred restored? A original? etc. ?

Strictly for discussion, no right or wrong answers here.

Thoughts?


JP

Re: Makes you wonder?

PostPosted: Sun Nov 19, 2017 7:39 pm
by SixT5HiPo
Gotta think the pristine, original, unrestored K Code Mustangs should command the top dollar among all the K's. However, many would say the "over-restored" concours examples might be worth more money because of the "wow" factor. Personally, I prefer the single stage factory style paint to the base coat/clear coat paint that is commonly used on restorations today.

Re: Makes you wonder?

PostPosted: Mon Nov 20, 2017 8:39 am
by JPhil
SixT5HiPo wrote:Gotta think the pristine, original, unrestored K Code Mustangs should command the top dollar among all the K's. However, many would say the "over-restored" concours examples might be worth more money because of the "wow" factor. Personally, I prefer the single stage factory style paint to the base coat/clear coat paint that is commonly used on restorations today.



You have to keep in mind the thought process of the folks who are buying these cars today. They want the "wow", they want the prestige, they want the "look at me" aura. That's not a personal knock on anyone, just human nature that when you get a shiny new toy you want to show it off.
We all do it.

Keep in mind also that the median age of buyers for specific cars such as these continues to rise while the market continues to shrink. This is why many folks will ignore originality and pay a premium to relive some of their youth.
For many it's not an investment, it's a dream that they can finally realize and it's a short cycle.

Are the over restored cars worth more now? I don't think so. I think there is a market for buy and drive cars now that folks can reach a bit easier, thus the trend.

The question is, what do you want from the car? That always dictates what you can get for it.

Just my two cents.

JP