2012 LS at Mecum/Chicago didn't make 40k reserve

[Iceman5000]

Whats up with Boss prices? Is the market finally saturated? I was at the Mecum Auction today in Chicago. I was the high bidder on a 2012 Black red LS at $30k. Car had never been registered, 324 miles, Splitter still in the box in the trunk. Not a scratch on it. reserve was 40k. Still a decent price, I thought.

 

[SaleenTom]

40k is a GREAT price I think !:shrug:

 

[VegasMichael]

40k is a GREAT price I think !:shrug:

+1

40k for such a low mile LS is a great price for right now.

40+ years ago the old Plymouth Superbirds sat on lots collecting dust. Now look what they sell for. Not saying that will happen to the LS or that is your intent for the car, but it's interesting how interest levels in all things can change.

 

[BlackNDecker]

If you purchased these cars as "an investment" then I think you will be sadly surprised over time. These cars won't have the nostalgic value in 20-40 years for GenX and GenY like they do for the boomer generation. This is what drives car value up....boomers wanted to buy the car of their childhood dreams. How many GenX'ers have you heard paying inflated prices for superbirds or GTOs? Not enough to effect market value. The bottom half of the "GenX" generation doesn't even know what a Boss302 is. So, at the very least demand will not outstrip aftermarket supply any time soon.

Hell, there was virtually no demand to have the Boss302 added to the current iteration of video game driving sims....it was added as an afterthought at the very end of Forza5's product life.

Also, boomers are getting much more advanced in age and this effects their discretionary spending....I don't think we will see their purchasing effect on aftermarket car value for much longer.

Not trying to be pessimistic...just realistic.

 

[drmustang]

The thread starters bewilderment here is the result of value in ones mind determined by hype and emotion colliding with the absolute, undeniable reality of worth determined by what another party is willing to pay.

The truth is that all of these cars, Boss 302s, GT500s, Z06s, etc. depreciate as any other new vehicle does regardless of what enthusiasts believe or have been told by enethical new car retailers. The poor guys who have bent over paying full sticker or more for these late model reincarnations are in for some serious equity erosion which will continue indefinitely as none of these cars are investments.

 

[svt1111]

The thread starters bewilderment here is the result of value in ones mind determined by hype and emotion colliding with the absolute, undeniable reality of worth determined by what another party is willing to pay.

The truth is that all of these cars, Boss 302s, GT500s, Z06s, etc. depreciate as any other new vehicle does regardless of what enthusiasts believe or have been told by enethical new car retailers. The poor guys who have bent over paying full sticker or more for these late model reincarnations are in for some serious equity erosion which will continue indefinitely as none of these cars are investments.

Agreed.

That is why I just drive mine and don't worry. I keep it clean and taken care of, but I'm not afraid to take it to tracks or even to dinner (although I do still insist on parking in another zip code to avoid door dings).

Got 6,600 miles on it already in almost a year of ownership.

It's gonna depreciate whether it has 6k miles or 60k miles, I suspect it will be worth the same in 5-6 years either way.

 

[Konaboss302]

I agree that these cars won't be worth mega bucks down the line, but I think that they'll hold value better than a standard GT. My terminator was lightly modified and still got me 18k TRADE IN from a dealer with 45k miles. I bought my Boss to drive the wheels off of it, but 9-10 years from now I think my Boss will be holding value much better than the track pack GT I was looking at... Just my 2c

 

[Konaboss302]

And the Terminator was a decade old at the time... Something to be said for holding 50% or more of the original MSRP after a decade...

 

[NJSP117]

And the Terminator was a decade old at the time... Something to be said for holding 50% or more of the original MSRP after a decade...

I agree.....I think these will hold a lot of value. I don't think they will appreciate, but you won't get killed if you sell it or trade it....

 

[JohnW#88]

I was at the Mecum Auction today in Chicago.

Know your audience. Mecum isn't the place where I'd be attempting to sell that car. Nice 12 LS's disappear off ebay quickly in the low/ mid 40s.

 

[kbroush]

Know your audience. Mecum isn't the place where I'd be attempting to sell that car. Nice 12 LS's disappear off ebay quickly in the low/ mid 40s.

I agree. Auctions are hit or miss for cars. It depends on the demographic of people there and what they are looking for. Unless you have multiple people bidding on the same vehicle it will not go of over reserve. Did anyone come up to you afterwards to try and deal with you for a sale price?

 

[JohnW#88]

Auctions are hit or miss for cars.

True.

Based on their recent inventories, a new Boss isn't gonna move unless it's cheap and someones looking to flip it and make some fast cash.

If I'm looking for a 55' Chevy custom with 20 inch spinners and suicide doors then Mecum is where I'm headed.

Wrong buyers.

 

[Iceman5000]

I realize this wasn't the idea auction for this car, but there were a lot of dealers buying cars for their lots. It only takes 2 people wanting an item to drive the price up. This auction was a lot more crowded than any of the 3 others I have been to this year. In Dallas there was an identical Boss LS, with 1200 miles that sold for 40K.

Yes I was approached after the auction to see if I would pay 40K, I declined. I have my philosophy at auctions that there should never be a reserve, let the bidders decide the value. I didn't need another car anyway, I just kind of want a Boss to go with my GT500, and I love the 12 LS paint scheme.

 

[four-walling]

I have my philosophy at auctions that there should never be a reserve, let the bidders decide the value.

I used to think the same until a friend of mine got screwed out of buying 2 cars at another famous auction (who shall remain nameless), because the auctioneer quicksold the cars to a preferred bidder, ignoring him.

The auctioneer also screws the consigner when he ignores other bidders in the room because the car sells for less money then it would have brought at an open and fair auction.

 

[TXPD]

I realize this wasn't the idea auction for this car, but there were a lot of dealers buying cars for their lots. It only takes 2 people wanting an item to drive the price up. This auction was a lot more crowded than any of the 3 others I have been to this year. In Dallas there was an identical Boss LS, with 1200 miles that sold for 40K.

Yes I was approached after the auction to see if I would pay 40K, I declined. I have my philosophy at auctions that there should never be a reserve, let the bidders decide the value. I didn't need another car anyway, I just kind of want a Boss to go with my GT500, and I love the 12 LS paint scheme.

this car is effectively a leftover, unsold year old car. right? those are usually discounted. further, if a car selling at or near $40k in a specialty market means that the wholesale cost of that car is considerably lower than $40k. $32k perhaps.

with new boss 302 cars still to be produced, selling a year old car as new is harder, not easier.