'65 GT-350 Prices: 5S069 is @ $475,000!

I saw this listing last week and was thrown through a loop. Is this car really worth 475? Maybe it is, maybe it isnt. It has the racing history with scca but is that enough to command a price of nearly 500K. I guess we will just have to wait and see as it would be no surprise if the shelby market took another large leap as it did a few years ago. Remeber, it was less than a year ago that 350K seemed like the most premium price you could pay for a street car.

Best Regards

Vern

PS- Is that the correct spare cover? I dont think that is the right material.

 

That is the owners price he would like to get. It has not been bid to any amount near that, wishfull thinking---S

 

The seller can ask whatever he likes for the car, getting someone to pay that price is another story. As for the market taking another leap forward, I'm sorry to say as the realestate market comes crashing down, the market for cars like this will as well. Some have been involved long enough to remember a brief time period when Cobras hit 400K then jumped to 1M and up. Sadly,in the current market, you are hard pressed to find any willing buyers for those cars and the owners who paid top dollar are crying the blues in private circles and not here on the forums.

Bill S.

 

Bill,

When the stock market goes up the investor types go back to what they do best. Once the muscle car dealers like yourself finish swapping cars with each other the real market may stand out. Lots of people have lots of money nowadays good cars are still selling for high prices just the average cars going down. History, docs and born with drive trains are the good ones and always set the pace.

 

Me, a car dealer, hardly....I deal in commercial properties, I do not buy and sell, I buy and develop. When I see a market, any market, I see the bigger picture as some of those same investors who I deal with also dabble in automobiles. When I see them selling their collections and putting more money into other things I would say that is a good sign that the market has hit a peak. I for one only have two cars left, one of which is in long term storage and is not for sale, the other one I get to take out and drive the heck out of whenever I get a chance. I do not look at my cars as an investment, I look at them as a car that I enjoy owning and nothing else. When the investors such as yourself step out of the market, we'll see the market have another major correction just like the Ferrari 308's did in the 80's....Some people will get caught with their hands in the cookie jar artificially inflating the market past it's breaking point and they will be the ones who get hurt the most.

Enough said.

Bill S.

 

I agree with SW. Good cars are still bringing top dollar not to mention cars with race history yet still having the origional engine......game over..point set match. This is one heck of knock out car. MM, you gotta be off your rocker to not think this car is worth the money.

Maybe it aint worth 475 but at least 425 is in order for this beauty.

Best Regards,

Vern

 

Great Point.

I agree 100% with that!

Best Wishes,

Vern

 

What happens as the market as a whole stalls a little, slides a little, and retirement people see the exit signal and the many dealers have to sell inventory at lower than "retail" prices to cashflow. It would be interesting to know how many classic cars are in "dealer inventory" as that is probably at an all time high by far. There's also a lot of cars in the restoration shop pipeline that are emerging to take advantage of the "unstopable market". Shelbys are really no more rare than they were 5 years ago. Will the number of buyers decrease when rates of return no longer look certain? Every market has cycles.

 

This particular GT-350 would have over 200 instant USA buyers at $350,000....so it would certainly bring $425,000+ on the mass open market. I am fortunate to 'stable' both #241 and a '70 Hemi 'Cuda, plus others...and could not bear to let either of them 'out to pasture.' I own these and others because of everything they mean to me from life's history, respect for the vehicle itself, pride of ownership, unadulterated pure fun, and lastly for what they are worth today. It hurts me to 'beat 'em' like they were really meant to be driven(and I do somewhat envy those of you who do!), but they are not babied, either. It is like every other investment quality passion...buy the best that you can enjoy and afford.....do not be stupid and 'bet the farm'....but ultimately if you purchase the most original and correct vehicle...your 'not stupidly priced' investment will appreciate beyond your expectations. Short timers beware of the inevitable 'dips'(timing the market is very risky)....long termers enjoy the heck out of 'em....you will be sad one day to see them go (so take lots of pictures!)...but rest assured that you will be well in the black! As for me..I have a son, now 16 & driving a 65- 289 Coupe to school, who appreciates 'em nearly as much as me...and the keys will be passed to him. He can choose the destiny of several thousand horsepower, or choose the financial alternative. Love 'em or leave 'em...but ALWAYS respect 'em!! Just my thoughts...but the Shelby Cars are definitely my favorites!

 

The market is WAY soft, there are many "deals" to be found when compared to a year ago. That is the way it works, first a few more "deals" pop up at bargain prices and the rest follow suit with similar lower prices. I wouldn't want my entire retirement wrapped up in a few cars right now. Anyone check out stocks lately?

 

Obviously there has been a correction in the car market and the real estate market in most areas. Still a quality car will still bring top dollar. A dealer friend of mine has said that the good stuff is still selling and at strong prices. I think it is the less desireable and cars of lesser quality that will and have suffered the most. Are they pushing the limit at $475,000? Maybe. I remember seeing the one and only original 67 Supersnake on Ebay a few years back for around $200,000. It seemed ridiculous at the time. What do you think about that price now?
Jon

 

Now if I can just get the guy that paid 5.5 mil for the Super Snake Cobra to purchase it's GT500 mate....

 

Charley, if he knew it was available he may be interested. I am sure you could get at least 5 times what you paid for it.

 

The guy who bought the Super Snake supposedly spent about 15 mil at the 06 Barrett Jackson Auction, im sure he would love to aquire your car!

Best Regards
Vern

 

Also, pertaining to the current value on collector cars. One must acknowledge that if you win a car, at that time, it is only worth what the bidder below you offered. Therefore, you can never honestly hope to make money on that car.
Ive said this many times and i will say it a million more times.

BUY A CAR CAUSE YOU HAVE A PASSION FOR THE CAR AND WHAT IT REPRESENTS, NOT BECAUSE OF WHAT IT IS OR WILL BE WORTH!

VERN

 

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I remember the Hemi cars when they came out. We always marveled at the fact that Chrysler was producing a car that was an absolute POS as far as the body was concerned. The doors sounded like tin cans when shut, A lot of the panels didn't fit or weren't aligned properly. This seemed to be the rule rather than the exception.

 

Paaalease! They guy is just another dealer trying to "hit a home run" in a market that is showing signs of softness in every way. It's not my opinion but opinions expressed by many dealers I've spoken with in the last 9 months. Fact of the matter is people are beginning to tighten up on the purses due to many factors in the economy and the "toys" are a second thought to most who would've paid top dollar a year and a half ago. Of course, there's the "one off" cars (Super Snakes, Twin Supercharged COBRA, FIA, R-Models and the like) and they will always garner the top dollars because people like Larry Miller and Jay Leno can afford them, but the normal cars are soft and moving slower. What I get sick of is this "65 GT350 histeria. What the all the fuss? Of course they only produced a little of 500, but come 'on!! - the '66 GT350 is so close in options and performance...and it can be had for a fraction. I think paying 350+ for the '65 when the '66 is the same car essentially is just stupid...and in the end if things continue to soften the "top dollar" '65 buyers that aren't millionaires will have a serious hangover.