Four Sold GNs in a Row on Mecum Today

FWIW, another low mile GN sold for over $40k. Maybe these prices will be a reality check for all the people speculating on CL and the Autotrader.

Neal
 
SpeedRacerX said:
Lot details and descriptions can be seen at this link:

https://www.mecum.com/auctions/kissimmee-2017/lots/01/13/page/2/

RESULTS:

Lot F51 - 86 T-top NR sold for $15K.

Lot F52 - 87 Hardtop NR sold for $12K.

Lot F53 - 87 T-top NR sold for $13K.

Lot F54 - 87 T-top NR sold for $10K.

Not sure if I should be worried by these prices or not...
Click to expand...

I see these prices as true market values and not inflated by sentimental value. The buyers at these auctions are not dummies and realize the true market value.
 
Those GN's that went through earlier today were a tad rough IMHO. Not in the same league as the one that went for 41K.
 
I agree that these looked rough and the prices reflected that. Was hoping to see some nice T's go through also as a comparison for everyone that says T's (or "Regals with turbos" as they have been called lately) are worthless.
 
yeah, those cars look to be in the daily driver looking category, but not bad overall. Those where good deals for someone. with the No Reserve classification and all four in a row, someone was looking to dump them and that is exactly what happened. someone made out for sure. wish i had been there, i would have scooped one for a DD.
Also this went off earlier and sold for 37K

LOT F68 KISSIMMEE 2017 JAN 6-15
1989 PONTIAC TURBO TRANS AM
Automatic, Festival Car STAR
Return to Lot List
SOLD
$37,000
 
I wouldn't be worried bout the hammer prices since GNs aren't auction cars. I would never sell a GN and certainly never one of the more obscure TRs in an auction type setting. And, to offer em at no reserve, you may as well piss in the wind. I mean who is really going to an auction with the intentions in mind of acquiring a GN or TR? After seeing those prices though, maybe I should begin to? Like the rest of you guys, I wish I was there to steal any one of those cars.

Now, GNXs at auctions, that's a completely different story. But I would still be apprehensive to offer one at no reserve.
 
Undercover87T said:
I agree that these looked rough and the prices reflected that. Was hoping to see some nice T's go through also as a comparison for everyone that says T's (or "Regals with turbos" as they have been called lately) are worthless.
Click to expand...
I love my GN but the next car will be a " T " , I love the different colors , The Grey I guess would be my favorite or White
 
Remember seeing the one that sold at the CT event at Mohegan Sun. Believe it went for 22K and needed a paint job in my opinion. Auctions are all about needing two guys that really want a certain car.
 
Turbo T's are total sleepers. I know, mine's not a WE4 to be what some say is the only recognized Turbo T in publication, but I call the 87 non-GN turbo Regals as Turbo T's. I had a 87 GN, Z06 and 87 T for a while at the same time. The 13.0 sec slow GN got the most attention, then the 12 sec Z, and every now and then people would look at the 10 sec T, and scratch their head, wtf is that, a grand national?
 
I saw all four at the auction. All four were 10-12 k cars IMO. There was an 87 that did not meet reserve on Thursday. It bid to I think 24K. It was a VERY nice GN that had the repro aluminum wheels. BTW it was pretty cool to see GNX 547!
 
I will never understand why people think that GN's should never increase in value. It's these people that keep the value down. Come on here talking shit about real market value. When a 63 Impala brings 50k+ is that real market value? Those cars are hunks of junk but they bring big money. It makes no frickin sense.

What makes even less sense is a stock ass GN will bring more that a nicely modded one with a built motor. Just goes to show that money does not = brains. Specially when a guy bought the stock GN just to mod it anyway....
 
From a good source who just emailed me this: "I got the full scoop on these 4 GN's that were "dumped" a day before the bidding started. Very average at best with the lowest mileage one having 74.6K mi. Oddly enough, it was also the most cosmetically impaired. All were T-top cars which is not a popular option. Crank seals were leaking on them all"

Even rough ones for cheaper money are bringing almost double to triple their value in money for their parts!
 
Also what you dont realize for those who have never been to an auction a lot of it is shell bidding. They will hype a car up and go to swing the pendulum of excitement and emotion into the bidding process. They are looking for people to bite. Sometimes if the car is just not going anywhere the auctioneer will quickly as possible tell the owner, hey your vehicle isn't starting anywhere where do you want us to start? Then begins the negotiation for buy/sell fees, bottom dollar seller will take and the auctioneer and company will look to make the seller sell their car and if a reserve is on the car, life the reserve or lower it if need be. Lots of angles and goes by very quickly!
 
TurboBuRick said:
I will never understand why people think that GN's should never increase in value. It's these people that keep the value down. Come on here talking shit about real market value. When a 63 Impala brings 50k+ is that real market value? Those cars are hunks of junk but they bring big money. It makes no frickin sense.
What makes even less sense is a stock ass GN will bring more that a nicely modded one with a built motor. Just goes to show that money does not = brains. Specially when a guy bought the stock GN just to mod it anyway....
Click to expand...

I doubt anyone is thinking or believes that GN's should never increase in value especially people like us here on this forum who absolutely LOVE GN's. A car is only worth what someone is willing to pay for it and the fact is buyers are getting smarter and have so much more in depth information available via the old internet hence the market value terminology. You are right in saying it makes no 'mother trucking' sense but it is what it is.

When I finally join the GN family after I find the right example for me I will not even haggle, heck I might even pay the owner a few extra hundred just to simplify the sales process and then drive him or her down to the local bar and buy them a beer and burger. That's how we roll in Texas! :cool:

Have a great weekend friends. :)
 
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