Lot F40 (Friday October 6th, 2023 result incidentally)
https://www.mecum.com/lots/1095308/1967-shelby-gt500-fastback/
That's rather low is it not? Very weird to me.
Looked that car up in the 97 Registry. Car is cherry from what I read and then saw on the Mecum site. Car is a beauty. Four speed to boot. Some buyer is going to have a blast with this car I suspect.
Yeah seems low. Not sure what to make of it. Good deal for buyer
A bargain.Anyone know if it ran?(seems like a lot of cobwebs under it)
I can't imagine what happened there? In my view it is very out of character.
The "market" has not collapsed. Far from it.
I suppose we will learn more about this car eventually?
I would tend to believe that it must have had some sort of issue(s). Surely their must have been more than a few Shelby guys in the room who would have bought it at a higher price had all been good.
I have been selling these cars for 45 years and the fact that is lost on most people is that there are two distinct markets for these cars and they do not typically interrelate. The two '67 500's in this sale are demonstrative of this:
Car #706 sells for $275,000:
- Arguably the most desirable color combo of Nightmist Blue / Parchment interior
- Fairly recent restoration to a high standard by a noted organization
- Provenance and documentation
Car #775 sells for $104,500:
- Arguably the least desirable color combo of Lime Gold with black interior
- Unrestored but not a survivor in the strict sense - offered in its shabby "as put away in 1975" condition.
- Questionable mechanical / operational status
- Modifications such as wheels, stripes, outside mirrors, shifter - missing under dash gauges
- Minimal documentation
Buyers at the top of the market want only no issue examples such as #706 and completely shun those like #775. So the second car defaults to the hobbyist / reseller / speculator market, and it is a LONG fall from the top to that next level. Most high end buyers do not want to be bothered with improving a vehicle, although some may if it is sufficiently desirable and valuable. The hobbyist / dealer / speculator market either cannot or will not afford to pay up, as they typically want a margin of value either to protect themselves or assure a gain on resale.
It will not surprise me to see #775 soon make another appearance, fluffed and buffed, on BAT or some dealer web site.
Agreed on all observations Mr. Collins. However, in the forlorn distance on a lonely two lane road me thinks me hears the winding sound of a 426 Hemi engine in the Black Ghost 1970 Challenger. $1,072,500.00 earlier this year. https://www.mecum.com/lots/554000/1970-dodge-hemi-challenger-r-t-se-the-black-ghost/
Perhaps this Lime Green Shelby needed a little more story around it? A legend surrounding the car? Some victories on the street strip? Something paranormal perhaps, as it comes out of the mist on an early Sunday morning to vanquish all who challenge it? In any event, the buyer got a steal of a deal even though there are day two modifications and the color may not be popular. (I'd take any color all day long on a Shelby). Hoping someone realized a long time dream.
Woodgrain dashboard trim on a '67? :o
I agree with Richard and Bill, but also want to add that it's very reminiscent of the kind of 10-15 year old daily-driver Shelbys I'd see in SoCal in the late '70s/early '80s. It has an authentic back-in-the-day vibe...not merely another chicken-crap-covered "barn find" (hate that over-used phrase) with "patina" (I'm tired of that word even more) and a bunch of YouTube hype.
I'd be tempted to make it look as presentable as possible without repainting it or replacing the interior, and make it into a mechanically bad-ass (427 aluminum side-oiler, 4-wheel-disc brakes, improved suspension) fun driver & occasional track-day car.
You won't win many awards, but for those of us to whom awards are just something you look at once, then put into a box in the attic, it has more than a couple of positives going for it. Yeah, even in slime green.
I hope whoever bought it will consider enjoying it in its present cosmetic state before going full-concours-resto on it.
I'm going to say "well bought". Seems like a decent entry level GT 500 at a not-over blown price. Hope some enthusiast bought it and not a flipper.
Say what you want about the wood grain on the dash. You could buy a kit from Warshawski & Company that had self stick Venier wood grain like that.
May have missed it but......what is the small shifter w/ red knob? Hone-o-drive?
Didn't know enough about the 67s to question the woodgrain dash. Good catch, Van. I don't imagine it would be hard to change back to a black camera case finish? I saw that the door handles and window cranks are non conforming. Also the Hurst shifter and the rims of course. But overall the body looks really sound and the day two mods are not out of line. I think the lime green would really pop with some gold striping over the car and same for the side stripes instead of the white. Then the color is more palatable to some perhaps. I still think the buyer bought well.
Quote from: s2ms on October 08, 2023, 12:10:21 PM
May have missed it but......what it the small shifter w/ red knob? Hone-o-drive?
I thought that as well or it could be a reverse lockout?
There's also the purely financial consideration - to take #775 and bring it up to #706's level would require a high level restoration. Taking it to a reputable shop could easily get up into 6 figures, eating up most of the difference in the respective sales prices achieved. Your giving most, if not all that extra revenue to the resto shop. Like others, I prefer some Day 2, authentic looking and tastefully done mod's even if that means your car is not worth as much as a concourse level trailer queen. Different strokes I guess!
Quote from: sfm5 on October 08, 2023, 12:22:31 PM
There's also the purely financial consideration - to take #775 and bring it up to #706's level would require a high level restoration. Taking it to a reputable shop could easily get up into 6 figures, eating up most of the difference in the respective sales prices achieved. Your giving most, if not all that extra revenue to the resto shop. Like others, I prefer some Day 2, authentic looking and tastefully done mod's even if that means your car is not worth as much as a concourse level trailer queen. Different strokes I guess!
Yes you're absolutely right. I mean the sheet metal would need to be taken down to bare and epoxy primered and all the nuts and bolts have their surface rust removed and coated with whatever the correct coating might be. Maybe the engine needs an overhaul. Unknown. One could indeed spend a lot to get the car up to a trailer queen level. Just drive it and enjoy it I say.
Don't we all know that BJ, M, etc. Play games? I have heard the stories....cannot deny it.
A first time Shelby buyer only has so much money and on that day MAYBE that was true market value on one of the cars. There are many Shelbys for sale for 75K up to 150K that are projects, to drivers, even they are all over the road. I wonder how many will just the line when selling their car, "One just went for XXXXX$$$ on Mecum, mine has to be worth that!" That phrase won't be used on one of them, I am sure! LOL
Quote from: deathsled on October 08, 2023, 12:12:01 PM
I thought that as well or it could be a reverse lockout?
Reverse lockout makes more sense, Hone-o-drive typically mounts differently.
Quote from: deathsled on October 08, 2023, 12:12:01 PM
I thought that as well or it could be a reverse lockout?
Not for a Hone-o-drive. Those were separate from a four speed shifter and on the side of the driveshaft tunnel
Believe your correct with the reverse lock out. Here is a picture of 67-2637 from back in the day with a different style Hurst shifter but the same arrangement though the knob is black. This was a straight line four speed shifter
(https://www.concoursmustang.com/forum/gallery/19/6-081023135241-194741509.jpeg)
Hone-o-drive shifter examples
(https://www.concoursmustang.com/forum/gallery/19/6-081023140110-19475642.jpeg)
That would be a brushed aluminum dash on a 1967.
Quote from: deathsled on October 08, 2023, 12:11:03 PM
Didn't know enough about the 67s to question the woodgrain dash. Good catch, Van. I don't imagine it would be hard to change back to a black camera case finish? I saw that the door handles and window cranks are non conforming. Also the Hurst shifter and the rims of course. But overall the body looks really sound and the day two mods are not out of line. I think the lime green would really pop with some gold striping over the car and same for the side stripes instead of the white. Then the color is more palatable to some perhaps. I still think the buyer bought well.
The Door Panels are Correct for the 67 Shelby. The Dash should have the Stainless as well.
Quote from: Bill Collins on October 07, 2023, 06:33:58 PM
I have been selling these cars for 45 years and the fact that is lost on most people is that there are two distinct markets for these cars and they do not typically interrelate. The two '67 500's in this sale are demonstrative of this:
Car #706 sells for $275,000:
- Arguably the most desirable color combo of Nightmist Blue / Parchment interior
- Fairly recent restoration to a high standard by a noted organization
- Provenance and documentation
Car #775 sells for $104,500:
- Arguably the least desirable color combo of Lime Gold with black interior
- Unrestored but not a survivor in the strict sense - offered in its shabby "as put away in 1975" condition.
- Questionable mechanical / operational status
- Modifications such as wheels, stripes, outside mirrors, shifter - missing under dash gauges
- Minimal documentation
Buyers at the top of the market want only no issue examples such as #706 and completely shun those like #775. So the second car defaults to the hobbyist / reseller / speculator market, and it is a LONG fall from the top to that next level. Most high end buyers do not want to be bothered with improving a vehicle, although some may if it is sufficiently desirable and valuable. The hobbyist / dealer / speculator market either cannot or will not afford to pay up, as they typically want a margin of value either to protect themselves or assure a gain on resale.
It will not surprise me to see #775 soon make another appearance, fluffed and buffed, on BAT or some dealer web site.
Thanks Bill. I always enjoy your expertise on the market/types of buyers, etc. I just read where a seller said some buyers as of recently do not care about colors on some color changed cars. I believe you have been saying that a long time ago when discussing the types of buyers out there.
Quote from: 67 GT350 on October 08, 2023, 12:38:47 PM
Don't we all know that BJ, M, etc. Play games? I have heard the stories....cannot deny it.
A first time Shelby buyer only has so much money and on that day MAYBE that was true market value on one of the cars. There are many Shelbys for sale for 75K up to 150K that are projects, to drivers, even they are all over the road. I wonder how many will just the line when selling their car, "One just went for XXXXX$$$ on Mecum, mine has to be worth that!" That phrase won't be used on one of them, I am sure! LOL
If you notice many time cars coming from a collection of a well known collector are the ones popping the big bucks(bidders trusting these cars as "good examples?). Other times it may be a well known papered car that is the best of the best like Charles 68 Shelby vert. It seems some of these collectors buy each others cars.
We were at the mecum indy auction and inspecting these 4 shelbys out of that collection and 2 guys we know bought 2 of them the 67 and 68 both were under the money. These cars came from long storage and nothing was done to them before taking to auction as they just got them running again. This was not the way to sell real shelbys as the seller should have hired a shelby dealer to sell them after some improvements they would have have been more sellable anyway as if you take away all mecum fees and taxes and transportaion cost and auction entry fees the seller didnt get what these cars were worth.
Quote from: Special Ed on October 09, 2023, 08:27:56 AM
We were at the mecum indy auction and inspecting these 4 shelbys out of that collection and 2 guys we know bought 2 of them the 67 and 68 both were under the money. These cars came from long storage and nothing was done to them before taking to auction as they just got them running again. This was not the way to sell real shelbys as the seller should have hired a shelby dealer to sell them after some improvements they would have have been more sellable anyway as if you take away all mecum fees and taxes and transportaion cost and auction entry fees the seller didnt get what these cars were worth.
What about the 2 69 Shelbys. Did both of those sell for under market especially the vert?
STAY AWAY FROM MECUM.....They are the ULTIMATE crooks and will F... You out of every last dime! There are better options- >:(
Quote from: s2ms on October 08, 2023, 12:10:21 PM
.....what is the small shifter w/ red knob?
If it hasn't been concluded, the little "red knob" is the "Reverse Lock-out" lever. ;)
Quote from: 427heaven on October 09, 2023, 11:08:20 AM
STAY AWAY FROM MECUM............
But, are they truly any worse then most of the others? :-\
Nobody utilized the terminology of: "Absolute" or "Honest" auction, in the description of most any of these events! Best just realize that these are more of some sort of carnivalized automotive "Tent Sale" than anything else; and this with all of the shenanigans that go along with such! ::)
Scott.
All of this reminds me of a BTO song, "Looking out for Number 1" That would be Bachman Turner Overdrive for some.
Quote from: 67 GT350 on October 09, 2023, 11:21:28 AM
All of this reminds me of a BTO song, "Looking out for Number 1" That would be Bachman Turner Overdrive for some.
If that's the case then is the auction house: "...taking care of business (every day)
Taking care of business (every way)
taking care of business (it's all mine)
Taking care of business and working overtime, work out..."
I would lean more in the direction of BAD CO... Literally and figuratively! Love the vintage rock groups, not the 3rd grade mentality of Frank and some others at Mecum/Clowns :-[
Good one! ^^
Yes gary the orange gt5oo auto fastback was a good dirty car and mostly original survivor . The 69 gt500 vert was a 4 -speed dark blue changed from blue and had a changed out scj with headers and shock towers were badly beat in to change header bolts so its not had an easy life but stiil a 4-speed gt500 vert so yes both cars sold under the money after u take 20% off the top plus other fees . Seller got around 330 for 4 shelbys and 1 boss 302!