I'm watching the Mecum Kissimmee auction on T.V. and they have the original Bullitt mustang hero car from the movie going .on the block this week. They have the car in what is pretty much a glass cage and the commentors have said that you can't get near it because it is always surrounded by a crowd. I keep up somewhat with collector car values but this one is tough to call as it is a one-off car. I read that the owner estimates it could bring in the 3.5 million range so what do you all think any guesses?

 

I heard about $4M, but it may go higher.

 

McQueens Ferrari sold for 8 Mil. I would think 4 Mil is about right. The car is in fair condition but I guess it's the mystique that fetches the big bucks.

 

I wonder who pays this kinda $$$, for those cars? Where do the cars end up? I rarely hear about what happens to them, after the auction.

 

They just go into a barn/museum and don't see the light of day again. I don't understand this but don't have this kind of money either. Heck, I don't have the disposable money for the current tribute model.

-- Chuck

 

I'm always puzzled when a group of car people don't get it. It's really not that hard to understand. Do you have investments? Where are they? They are probably in an account that is represented by numbers on your computer screen or a paper statement. Why do you have that? What good does it do you? Why don't you have that money in your living room, or sticking out of your pockets as you walk the street? You keep it invested because that makes you happy, or secure. You hope for big returns on your investment. "Money working for you" as the saying goes.

Some people look at those accounts and say "what's the point?" If this number gets real big do I win a prize? Will I live forever? Will I experience transcendental happiness? No, you'll die just the same and then the tax man will take a share and your heirs will split up the rest and maybe they'll enjoy it. So some of these same folks say "What else can I do with my money that will be fun but not lose the value?" And that's where things like art, real estate, and antiques come in. First there is the fun of the dream. What car would I like to own? How much are they? What am I comfortable investing? Then there's the thrill of the chase. Where is one available? Is it the best one that I can afford? There's also the excitement of the auction hall. Will I beat that other guy or gall for this car? And perhaps most important, it's the people. Car collectors are their own community and there is probably a group of them right near you. It is nice to have a group of like-minded people that you can spend time with who share your passion.

You can have a hobby that you enjoy, and if need be you can liquidate it and get your money back. Yes, you may lose some, but you may make some. Yes, the market will probably make more. And yes, it may take time to liquidate it. I would argue that if appreciation is your only concern and you need to be able to get at all that money ASAP, keep it invested. But if you already have enough to live out the rest of your days in relative comfort, why not invest some in other things that you can actually enjoy?

 

Well said Bill.

 

So true. Personally I wouldn't have any interest in the Bullitt Mustang but anything he drove in the movie LeMans would be more than welcome in my garage.

 

Mecum had a poll question which asked if you bought the Bullitt mustang would you restore it or leave it original. It came out to 75% would leave it original and 25% would restore. I was shocked to see that even 25% would restore the car to me the value would be in the originality of the car.

 

Outside of a cars n coffee, behind some retaining wall....