Well summer has come and gone. The kids are back at school. The first Orange County Barrett Jackson auction according to them was a success, so they will be returning. We ran 2 cars through the auction. A 1966 red on red convertible and 1962 red on black car. We got killed on both of them. Seems like most of the sellers I spoke with were of the same opinion. There were the odd cars though that did break the bank. I guess the anticipation is what keeps people coming back. Nobody that I knew though got the money they were expectation. It was a buyers market and there were some deals to be had. It was a sign of the times.
Hot August Nights was busy as it usually is. The Auction from all reports was very disappointing for most. Lots of no sales.
Monterey had good and bad reports. Truth is you can't believe all you hear and read about. My analysis from all these auctions is that the buyers were bidding to now where near the market value (Trying to steal cars) and the sellers are trying to get 2007 (high) prices. The auctions are the only people making the money. Bottom line, we are still going through pricing correction.
Fortunately we have had a great summer, without having to deal with all the auction hype. We are still even in this economic down turn having trouble buying good cars at good prices. I guess that's a good thing, as it is keeping the corvette prices stronger than some other brands.
