markfnc Posted January 22, 2007 Share Posted January 22, 2007 Did anyone see the Shelby Cobra Super snake on Barrett Jackson? It sold for $5 million. Broke the record for highest pricer car. Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted January 22, 2007 Share Posted January 22, 2007 The stupidity of people with money never ceases to amaze me. Quote Link to comment Share on other sites More sharing options...
Kotzenjunge Posted January 22, 2007 Share Posted January 22, 2007 (edited) It's really more about the stupidity of people who buy into the frenzy. The auction used to be fun to watch, but like much of the Speed Channel it's impossible to enjoy anymore. I could go on a rant about it going down the tubes when Fox bought the channel, but nah. EDIT: Okay, a little: You see people more often than vehicles there now. Pinks is one of the biggest jokes I've ever seen. A commercial for Barrett-Jackson barely even shows any cars. Edited January 22, 2007 by Kotzenjunge Quote Link to comment Share on other sites More sharing options...
BlackHorse Posted January 22, 2007 Share Posted January 22, 2007 The report I saw on the crawler was 6.5 million, not 5 million. Quote Link to comment Share on other sites More sharing options...
05fordgt Posted January 23, 2007 Share Posted January 23, 2007 The report I saw on the crawler was 6.5 million, not 5 million. No, it was gaveled at $5 Million, and with buyers fee, it took the price up to $5.5 Million. Quote Link to comment Share on other sites More sharing options...
sranger Posted January 23, 2007 Share Posted January 23, 2007 The stupidity of people with money never ceases to amaze me. It is not stupid at all considering how fast these type of cars appreciate. It is probably one of the best investments going right now. It is like buying High priced art. It rarely goes down in value.... Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted January 23, 2007 Share Posted January 23, 2007 It is not stupid at all considering how fast these type of cars appreciate. It is probably one of the best investments going right now. It is like buying High priced art. It rarely goes down in value.... Maybe, maybe not. It's a risky 'investment' at the very least. If his goal was to make more money, buying a car certainly wasn't the smartest thing to do with his $5.5 million. Quote Link to comment Share on other sites More sharing options...
Mustang_Marty Posted January 23, 2007 Share Posted January 23, 2007 The guy who bought the Cobra was the same guy who bought one of those GM Motorama trucks last year for $4.5M. If I had $10M to spend on cars, I certainly would own more that 2 Quote Link to comment Share on other sites More sharing options...
sranger Posted January 24, 2007 Share Posted January 24, 2007 Maybe, maybe not. It's a risky 'investment' at the very least. If his goal was to make more money, buying a car certainly wasn't the smartest thing to do with his $5.5 million. Tell that to the guy that bought four Hemi Cudas for 10-20K ten years ago and recently sold them for over 150K each. One went for 250K... P.S. Do you really think Shelby's personal Cobra ( 1 of 1 ) is going down in value? Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted January 24, 2007 Share Posted January 24, 2007 Tell that to the guy that bought four Hemi Cudas for 10-20K ten years ago and recently sold them for over 150K each. One went for 250K... P.S. Do you really think Shelby's personal Cobra ( 1 of 1 ) is going down in value? How about the millions of other people who bought cars 10 years ago that are worth nothing now? Investing 20K wisely in stocks 10 years ago would probably have resulted in more than a 150K turnaround now also. Cars are historically piss poor "investments". A few schmoes get lucky, but that's about it. As for Shelby's personal Cobra, it's not worth $5.5 million except to one person. That doesn't make it valuable in the least. It just means that's what he paid for it. If I paid you $100,000 for a $5000 car, does that mean I could turn around and sell that car for $100,000? Unlikely. Quote Link to comment Share on other sites More sharing options...
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