Thanks - yeah, this is the math that has me all ??? scratching my head...
..at the end of the day, the hammer price is IMHO the value..
There's also the issue of finding enough comps to get a feel for the market. Easy enough if you're looking at Vette or a baby Bird because there's always a ton of them. Maybe 1 or 2 70s Dodge trucks go through that tent every couple years.
..exactly - the car I'm negotiating for is rare enough that only one was on the open market last year, in VGC. It bid up to $38k, but didn't meet Reserve. The one I'm looking at has been mostly sitting two years, ran once last summer, dirty, a few issues, needs TLC but solid and an excellent starting point for my purposes. Now, it just so happens that one of these models with very similar qualities (solid and intact but distressed) was auctioned last week. The bid result was $28,100 incl all fees and commission. So I'm thinking the seller walked away with about $25k ----> 10% less than $28,100. And that's a decent comp value.
- Art
