SOLD A66 Challenger 340 vert sold quickly

[340challconvert]

I found a 70 A66 Challenger 340 convertible for sale by Midwest Car Exchange, green, 4 speed car, 2nd owner since 1971, very clean. Went to the dealer website and it sold in less then 10 days. Any member purchased or know who did on this car. Curious as to what price it went for, especially by a dealer. Car was mint. I track the A66 cars, especially convertibles.
http://www.mcecars.com/viewInventory.cfm?invID=617

 

[Hato]

It's on the way to Munich Germany i remember my father wanted to see it but was sold already it was around 60k was a very nice car but I felt he wants top dollar for cars the mr norms t/a he has been for sale for a while at least 6months

 

[340challconvert]

Auction sale of A66 vert in January

Another A66 convertible in bronze w a 4speed went through the Mecum Auction in January 2014 and sold for about the same dollars; $60,000
I wonder if overseas sales are driving these post 50,000 prices?
http://www.mecum.com/auctions/lot_detail.cfm?LOT_ID=FL0114-176682

 

[DetMatt1]

A couple of notes on the green one. Built December '69 and no rear sway bar or hood emblems so it must have been a decal. Both really nice cars.

 

[moparleo]

It is just a way to artificially inflate the value of the cars to make the cars that they already have to be worth more. Then they sell the rest. But now there are more available on the market, so the value goes back down. Money makes money. Do you think that 71 Hemi-Cuda convertibles are really worth $1 millions bucks ? Only if someone pays it. And then every body thinks they are all worth a million.

 

[ramenth]

Pretty much, Leo.

Value is only determined by an agreed upon purchase price between buyer and seller. Seller can ask what he wants and may get what some of us may see as a large price, but only to the person willing to pay the price. That doesn't mean that all are "worth" that much, just that one.

It does give a starting price at which to place one's own possessions, though, if something similar is going for "this" much and does give a buyer an idea as to what to expect one buying one.

 

[moparleo]

Robert,

Think about this. What if you were the seller And the buyer?
This was a strategy in the nineties when the stock market was going soft. The investors needed somewhere to put their money to work. These people were not car people. Collector cars were just a commodity like pork bellies or gold. Simple really, start buying the low production cars, do over the top restorations, and then later hit the big auction houses. Pretty smart really. Shill bid the price way up on a few of your own cars with a straw purchaser. Then you only pay the auction house commission on your own car. That way you drive the perceived value through the roof by only paying a fraction of the real cost. Hold them for a year and then sell at the big auctions and take your profits. Now the regular guys got priced out of the market and the nice cars went into some rich guys basement or warehouse.
So here we are. One positive thing is that the money was now there to finance the restoration parts industry to economically start to reproduce more parts. In that case we all reaped the benefits.