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Cobra R's
FR500 at Barrett-Jackson
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<blockquote data-quote="1995COBRA-R" data-source="post: 4886326" data-attributes="member: 9515"><p>I just talked to a couple friends that attended. They said the clone market is really weak (not sure how that relates to Bill's opinion). </p><p></p><p>They saw the FR500C. They said it looked to be a very nice car. IMO, the cost of the car would have been the cheapest part (racing it is where it'll get your budget ;-) ). It seems to me that that car was a good buy? It cost $125K (new)? I guess you have to do some modifications to the car before racing it in the Koni Challenge? $150,000 (plus spare parts)?</p><p></p><p>They said a lot of cars were sold for low prices on Friday. They mentioned many late-1960 and early-1970 cars that had very low mileage (one had 1200 miles) that went for less than $10K (a very low mile Buick went for $3500). Heck, I would have paid $3600 and used it to drive to the grocery store.</p><p></p><p>They bought a couple of cars to re-sale. I couldn't get them to admit any real prices paid (darn used car dealers ;-) ).</p><p></p><p>One tried to buy a '65 (or '66) Mustang convertible in excellent restored condition (V-8, automatic). He was outbid at $20K.</p><p></p><p></p><p>They also mentioned this. They said this occurrence made them somewhat lower what they bid for cars (I guess they were worried about trying to catch a falling knife, if it is indeed, a permanent downward value movement).</p><p></p><p>Bill, What percentage of restoration cost is a clone/replica now? They mentioned a fake Chevelle SS 396 that went for ~$20K which they guessed was 50% of the cost to build the car.</p><p></p><p>I still prefer to just lose money on race cars. At least I know that I don't have to worry about capital gain taxes. :-D</p></blockquote><p></p>
[QUOTE="1995COBRA-R, post: 4886326, member: 9515"] I just talked to a couple friends that attended. They said the clone market is really weak (not sure how that relates to Bill's opinion). They saw the FR500C. They said it looked to be a very nice car. IMO, the cost of the car would have been the cheapest part (racing it is where it'll get your budget ;-) ). It seems to me that that car was a good buy? It cost $125K (new)? I guess you have to do some modifications to the car before racing it in the Koni Challenge? $150,000 (plus spare parts)? They said a lot of cars were sold for low prices on Friday. They mentioned many late-1960 and early-1970 cars that had very low mileage (one had 1200 miles) that went for less than $10K (a very low mile Buick went for $3500). Heck, I would have paid $3600 and used it to drive to the grocery store. They bought a couple of cars to re-sale. I couldn't get them to admit any real prices paid (darn used car dealers ;-) ). One tried to buy a '65 (or '66) Mustang convertible in excellent restored condition (V-8, automatic). He was outbid at $20K. They also mentioned this. They said this occurrence made them somewhat lower what they bid for cars (I guess they were worried about trying to catch a falling knife, if it is indeed, a permanent downward value movement). Bill, What percentage of restoration cost is a clone/replica now? They mentioned a fake Chevelle SS 396 that went for ~$20K which they guessed was 50% of the cost to build the car. I still prefer to just lose money on race cars. At least I know that I don't have to worry about capital gain taxes. :-D [/QUOTE]
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