https://bringatrailer.com/listing/1966-shelby-mustang-gt350h-4/
"If an ignorant man gives you a dollar and a genius gives you a dollar, you will have two dollars"
-Coralsnake
There seems to be a lot of ignorant money
Well bought and well sold 1966 GTH #SFM6S1568
The market has spoken $175,000 plus fees
Shame it did not have A/C .......
Quote from: Coralsnake on August 27, 2024, 01:12:56 PMhttps://bringatrailer.com/listing/1966-shelby-mustang-gt350h-4/
"If an ignorant man gives you a dollar and a genius gives you a dollar, you will have two dollars"
-Coralsnake
There seems to be a lot of ignorant money
I usually say to each his own, but then there are times when I see this:
https://bringatrailer.com/listing/2006-ford-gt-heritage-edition-31/
Well sold, as with the one above (A SAAC forum alumni).
Bill
I cant imagine buying something, Im not remotely familiar with...
I wish you guys wouldn't be so cryptic about the 66 GT350. I was watching the auction and reading the comments but I have a hard time "reading between the lines". I want to learn and I want to buy a 65 or 66 GT350 but it's so hard to get honest facts, I'm almost too paranoid to ever pursue another car.
QSS
Oh no paranoia just saying the guy literally asked what the "H" was for?
Either he was unsuccessfully trying to be funny or he is very ignorant of the cars
I guess I have come to the conclusion, the sellers are winning
No reflection on the car
Just to understand, is it too expensive? What is the problem with this auction? Thanks.
Again, There is no problem with the auction.
I think there is something wrong when someone that doesnt know what the "H" in GT350H stands for wins the auction.
He literally asked that question.
...and before you all get in a bunch and go off on me and say its his money....
I totally get it. ..and yes I understand some people know more than others, but thats kind of a real basic starting point.
My point is if you are going in that uninformed, there is a higher than average chance, you could get taken advantage of.
Maybe not here, but in general
It seems there are always people with a lot of money, buying into what they perceive to be investments. I remember the market crash of October 1987. I was building a shop. I had the funds to build the shop with sweat equity, or buy a 1966 GT350. I decided to build the shop. Then the market lost 20 percent. Lots of people cashed out of the stock/bond markets and bought into items they could "put their hands on". Art, Wine, antiques, CARS. By the next year, that GT350 had doubled in value. Many were purchased by people who heard about "GT350" when they wrote a check for the car. It also happened with art work, wines. I was waiting for the news where someone saw a bottle of some fancy antique wine sold for $10,000, so they bought a bottle for $8000. Great deal! (for a 1976 bottle of Bartles & James......LOL).
I remember that well, I was buying my first Shelby watching the prices go up....
Crazy times. I can remember one guy calling me up ( still don't know how he got my number)wanting me to sell one of my Shelby's and in trying to convince me he said he had access to pension fund money. As if to imply I could name my price if only I would sell. Crazy.
Had a guy offer me gold bars for payment once....now Im thinking that might have worked out
Do some basic research on gold prices over time. It isn't that impressive.
;)
Quote from: Coralsnake on August 28, 2024, 11:18:20 AMI remember that well, I was buying my first Shelby watching the prices go up....
I was in the same boat - wrote this article about it way back then...
http://www.gt350h.com/documents/grail1.html (http://www.gt350h.com/documents/grail1.html)
I can't count the number of times I've attended auctions (this often being equipment, or just "stuff" auctions, and sometimes it's by the pallet load) and witnessed after the auctioneers' gavel fell, the high bidder stepping forward thru the crowd asking: "what'd I get"?! ::)
And although often these monetary value sums might not be that of a Shelby, often this is for hundreds and even in the thousands of dollars. :o
As my Grandmother often used to say: "Fools and their money soon part"! ;)
Scott.
What is interesting to me is the buyers of some of these cars. Would you shell out 50K for a stock without fully researching it or the advice of a trusted broker/financial guy? But people shell out 6 figures on a car they know nothing about. One guru here has seen it in Boss 429s inspecting them AFTER the purchase and informing the buyer how much more they need to spend to make the car right.
Yes, it's not just BAT it happens at all auctions. BAT just makes it more visible and in some cases obvious
Recall selling a GT350 (67) at an auction and the guy asked me if the car was a KR, ::) Did not even think or know to at least start with the side stripes.
The reason he had to have a KR? He had read in a fairly recent newspaper article (that should date when the sale took place) that the best investment at that time was a KR. So he was following them with just recommendation.
Can't tell you how many fakes I've seen for sale and change hands over the years. But for some reason, likely bragging rights, it is not important to some to have a correct or in some cases complete car, just to have a pretty one that they can show off to friends or list as part of their collections. Seems to have always been this way.
I remember the crash of 87 quite well. I had bought my B9 for 4500 in primer in 86 and sold it painted but still apart for 25K in 1988(private gotta have it price). Also sold a 69 Mach1 for twice what I had into it the day before and paid off my first house. :) At that point my wife has NEVER questioned me on parts or paint spending on cars. Many do not remember but that in 87 was the start of the big block craze. Car Market was dropping in 1991 when I sold my 70 GT500 drag pack I had just restored for 28K( wanted 35K).