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Post by island65cruiser on Feb 26, 2021 9:05:38 GMT -5
NOT MY CAR. For anyone interested, I have been watching a 65 442 Holiday Coupe for sale at Copart Auctions in Harleysville SC. There are five days left on the auction, it is now up to $11,600 today. The car looks like it was nicely redone, but had an underhood fire. From the photos, it looks like high dollar work, even has OEM style exhaust showing proper chambered pipe tips. Too rich for my blood now, but it can be seen at ABETTER-BID auction site, they are a retail broker for Copart, which is wholesale only. This car might be worth looking at, even with a salvage title.
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Post by john442 on Mar 1, 2021 13:01:03 GMT -5
The classic car salvage is a great way to get tons of parts if the auction price is reasonable. I've checked them out for my car and my sons new mustang that he
needed parts for after an accident.
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Post by island65cruiser on Mar 1, 2021 20:06:28 GMT -5
That salvage car is up to 13,800 today.
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Post by bubbasz1 on Mar 2, 2021 5:34:46 GMT -5
I saw those same pictures of that car months ago, hell maybe even a year ago, and I think it was on our site, Oh well, somebody might get a jewel or a rock, seems kind of stupid to us to auction a car like that off when some paint and some new wires and fuel lines could fix it up, what else is hiding that we don't see.
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Post by john442 on Mar 2, 2021 15:58:22 GMT -5
I'm guessing that guy spent alot of money restoring that car and wound up taking the insurance money because they totaled the car out. Hope he had it insured for
close to what he spent.
Like the color combination.
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Post by BR[] on Mar 2, 2021 21:45:35 GMT -5
I'm guessing that guy spent alot of money restoring that car and wound up taking the insurance money because they totaled the car out. Hope he had it insured for close to what he spent. Like the color combination. True, but he could have taken a little less and bought it back, pennies on the dollar, then made a lot of money on parts or a restoration. |
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Post by familyrides1965 on Mar 2, 2021 23:51:05 GMT -5
I'm guessing that guy spent alot of money restoring that car and wound up taking the insurance money because they totaled the car out. Hope he had it insured for close to what he spent. Like the color combination. True, but he could have taken a little less and bought it back, pennies on the dollar, then made a lot of money on parts or a restoration. [/quote The site is a scam in my opinion. I jumped through hoopes to find an authorized bidder for a previous 65. In the end a 10k parts car and that is being kind sold for over 20k when you calculated the pass through costs and auction add on. I knew the car personally because the owner had been trying to sell it two years prior to the "accident" that totaled the front clip. That is my experience anyway. |
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Post by john442 on Mar 3, 2021 13:36:38 GMT -5
It sounds like you believe the auction company are charging very high rates and I can believe that.
I was unaware until recently just how much the auction houses are charging to sell classic cars. At some point they went from charging the seller to charging both the seller and the buyer.
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Post by island65cruiser on Mar 4, 2021 15:21:56 GMT -5
Copart salvage auctions aren't bad on fees, they are flat fees not percentages like the collector car auctions and consignment dealers. Over the years in the car business we went to numerous Copart and Manheim auctions. To be safe when buying salvage cars, we always stopped bidding at 50% of the wholesale value after repair, minus our estimated cost to repair. You miss a lot of cars, but you never get skunked. My limit on that 442 was $3,500.00.
Copart only sells to licensed dealers. ABetter Bid is one of their approved brokers who basically charges you for using their license. I don't know how expensive they are, but they are not like Mecum or Barrett. Insurance companies usually don't pay seller's fees. The auctions know they will send there cars elsewhere if they are charged fees, and that's a huge volume market. Copart and Manheim basically get their inventory for free. The key to auction buying is to know when to walk away. I use the "Greater Asshole Theory":I Somewhere out there is a greater asshole then me that will not know when to stop bidding, and pay too much for the car.
My toy cars are all insured for specified replacement cost. If insurance totals it, I get 100% of the specified cost. My rates are based on the specified cost. That seems most fair to me. It is tough to beat insurance companies at their own game.
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