2009 Barrett-Jackson – Palm Beach Auction – Cars to Watch “The Sleepers”
Barrett-Jackson – Palm Beach 2009 Auction
By: Bryan W. Shook, Esquire
Email: bshook@shooklegal.com
It’s that time again in sunny south Florida.The trucks are arriving as I type this delivering one gorgeous car after another. All told, over 700 cars will be sold this week at the “lifestyle” event that is Barrett-Jackson’s 7th annual Palm Beach collector car auction. As has been the norm for Barrett-Jackson auctions over the past five years or so, this will be a “No-Reserve” auction which means all cars will sell to the highest bidder regardless of price
Speed TV will be broadcasting 22hrs of live high-definition coverage of the event.
Although we are technically in a recession, I look for several of the auction lots to sell for strong money. Plenty has been written about the feature cars of the auction so I have chosen to focus this article on what I believe will be the best buys of the auction.
On Tuesday, April 07, 2009, I was fortunate enough to be able to spend some time “kicking the tires” and here is my list of vehicles to watch.
· 1920 Chevrolet Model T – 1 Ton (open cab) chassis truck (Lot # 678)
o This truck is coming out of the GM Heritage Collection and is in very nice shape. The truck shows some slight deterioration from sitting and appears to have been restored a number of years ago. Although it’s only sold on a Bill-of-Sale, I believe this will be a great buy. Where else are you going to find one?
· 1964 ½ Ford Mustang convertible (Lot #347)
o This car is extremely well presented and appears to be over restored. If you are looking for a rare color (Skylight Blue) and color keyed blue convertible top car this is the car for you. Although this is an original D-Code (289cu 4bbl) car with 4spd manual transmission, the engine has supposedly been replaced with a circa 1965 Ford 289cu engine. Bottom line is that this is a striking color combination on an extremely significant model year Mustang.
· 1972 Chevrolet C10 Cheyenne Short Bed pickup (Lot #32)
o This truck is as clean as ANY you’ll find. It supposedly features its original number’s matching 402cu big block engine and air conditioning. To say this truck is restored to a high level is an understatement. It is evident that true love went into this restoration and either this was an excellent original when the restoration was started or someone spend A LOT of money, not to mention time, during the restoration seeking out good quality original pieces.
· 1976 Chevrolet C10 Silverado Long Bed pickup (Lot #330.1)
o This is allegedly a 17,000 mile truck. The truck features a 454cu engine, air conditioning, power steering, power brakes and the optional gauge package. The cons on this particular truck are that it is a long bed model and it is painted, assumedly original, light saddle over neutral.
· 1994 Pontiac Trans Am 25th Anniversary Edition Convertible (Lot #58)
o This is an extremely rare 1 of 250 convertible 25th Anniversary Edition Trans Ams that is in very good, original condition. This car is officially 15 years old and looks great. The TA is powered by the corporate 5.7 liter (350cu) 275hp small block Chevrolet engine which is backed by a very fun 6spd manual transmission. The car is extremely clean with only minor road spray on the undercarriage and rear axle assembly. Overall, this vehicle represents an amazing opportunity to purchase a historical vehicle directly from GM. For more support please refer to my article below “‘Can’t Miss Investments, Even in this Economy’ 1982-1992 GM F-Bodys”
· 1999 Pontiac Trans Am 30th Anniversary Coupe – Daytona 500 Pace Car (Lot #616.1)
o This vehicle has it all, the LS1 engine, the signature blue anodized wheels, the white leather seats, removable roof panels (i.e. T-tops) … not to mention provenance directly from GM as an officially 1999 Daytona 500 Pace Car. Again, as stated above, this vehicle represents an amazing opportunity to purchase a historical vehicle directly from GM. For more support please refer to my article below “‘Can’t Miss Investments, Even in this Economy’ 1982-1992 GM F-Bodys” Did I mention this car is a WS6 optioned vehicle with the aggressively styled Ram Air hood and induction system?
The above list represents just a sampling of the vehicles offered at this year’s Barrett-Jackson, West Palm Beach, Florida Auction. For more information, be sure to visit their website at http://www.barrett-jackson.com.
Bid with knowledge. Buy with confidence.
Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market. Attorney Bryan W. Shook is a seasoned automotive collector and restorer and as such brings real world experience and firsthand knowledge to the table for his clients. Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com.
GM F-Bodies – 1982-2002 – Can’t Miss Investments
Can’t Miss Investments – Even in this Economy
GM F-Bodies 1982-2002
As I recently stated during a seminar, and I continue to stress, we are in a buyer’s market. Given the market conditions, there are several cars that I forecast as “can’t miss investments.” These are vehicles which have hit their rock bottom price and have a tremendous opportunity to appreciate. In this article I have chosen to look at the 3rd and 4th generation GM F-Bodies, better known as Camaros and Firebirds.
1982-1992 Chevrolet Camaro & Pontiac Firebird/Trans Am (a/k/a 3rd Generation F-Bodies)
These cars reached their bargain basement price structure during the first part of this century, good solid, low-mileage, well kept, examples trade anywhere from $3,000.00 to $8,000.00, with exceptional cars trading for much more. While the 350cu optioned vehicles are always popular, the only way to get a 5spd manual transmission with a V8 engine was to order one of the 305cu engine offerings.
· Camaros poised to appreciate:
o 1982 Camaro Indianapolis 500 Pace Car replica
o 1983-1986 RPO L69 High Output 305cu 4bbl 190hp (especially rare, at least in decent condition is the 1983 variety, considering its late introduction)
o 1985-1990 IROC Camaros
o 1987-1992 convertibles
o 1989-1992 1LE Camaros (basically showroom ready SCCA prepared racers usually very sparsely equipped)
§ Of particular desirability is a 1992 1LE Camaro optioned with luxury or appearance options, such as a deluxe leather interior or the RPO Z03 Heritage Package – Extremely Rare
o 1991-1992 B4C Camaros (similar to the 1LE option but titled “service special” developed especially as pursuit vehicles for law enforcement.)
· Firebirds poised to appreciate:
o 1982-1992 Trans Am (in general)
o 1982-1984 Recaro Edition Trans Am
o 1983 Trans Am Daytona 500 pace car replica
o 1984 15th Anniversary Edition Trans Am
o 1983-1986 RPL L69 High Output 305cu 4bbl 190hp
o 1989 Turbo Trans Am 20th Anniversary Edition – Indianapolis 500 pace car replica
§ Hardtop cars are especially desirable given their rarity
o 1989-1992 1LE Trans Am (no 1LE GTAs were produced)
o 1991-1992 Firebird/Trans Am/GTA Convertibles
§ Especially desirable when equipped with 5spd manual transmission
o 1991-1992 Firebird Firehawk
A detractor from the collection of these vehicles is an adequate supply of good quality examples are quickly disappearing. With the recent spike in scrap prices, many of these cars failed to survive the high scrap prices. (Note: I witnessed scrap prices as high as $15.00 per every 100 pounds – read $300/ton.) Another detractor is that GM has all but cut off this generation from its service parts support and has therefore shifted the burden of parts supplying to the aftermarket industry, although good New Old Stock (NOS) parts can still be found. The viability of the automotive restoration parts suppliers in today’s economy remains to be seen.
Solid, well kept examples of the above referenced Camaros/Firebirds, will enjoy a marked appreciation, much like we are currently seeing with the second generation (1970-1981) Camaros and what we have already seen in the first generation Camaros (1967-1969) Camaros.
1993-2002 Chevrolet Camaro & Pontiac Firebird/Trans Am (a/k/a 4th Generation F-Bodies)
The 4th Generation of the General Motor’s F-body has been holding its own since the demise of the F-body in 2002. As I type this article the first 5th generation Camaros are hitting the dealerships. This changes everything, the demand of the 1993-2002 F-Bodies will shrink as potential buyers will be able to quench their thirst with the purchase of a new, more powerful 2010 model. While it may seem that we are about to see a decline in the value of the 4th generation F-Bodies, the reality is that this generation has been out of production for nearly a decade, but from a performance standpoint, remains nearly as powerful and agile as its modern peers and successor. Furthermore, from a nostalgic standpoint, with the discontinuance of the Pontiac motor division, the last rear wheel drive Pontiacs (1993-2002 Firebird/Trans Am) will be sought after by collectors.
Convertibles are always a good buy (no convertibles for 1993), but look for the 1998-2002 Camaro SS and Trans Ams to lead the appreciation charge. New for 1998 was the introduction of the LS1 all aluminum 5.7L engine that was introduced a year earlier in the Corvette C5. Some late 2002 LS1 powered Camaros and Trans Ams were actually built with the stronger LS6 engine blocks, watch for these as they are a desirable oddity. The V8 models will of course always be more desirable than the V6 models however, some appearance packages and the RS package was only available on V6 models.
· Camaros poised to appreciate:
o 1993 Indianapolis 500 Pace Car
o 1993-1999 1LE Camaros & 2001-2002 SLP 1LE Camaros (1LE option was no longer offered by General Motors after 1999 but in 2001 SLP stepped up and offered a modification to bring the 1LE package back)
o 1993-2002 B4C Camaros (similar to the 1LE option but titled “service special” developed especially as pursuit vehicles for law enforcement.)
o 1994-2002 convertibles especially with V8 engines
o 1996-2002 SLP modified vehicles
o 1996-2002 Camaro SS
o 1997 30th Anniversary Edition Camaro (white with Hugger orange stripes & orange hounds tooth interior – reminiscent of the 1969 Indianapolis 500 pace car replica)
o 1997 Chevrolet Camaro SLP Modified with Corvette LT4 engine
o 2002 35th Anniversary Edition Camaro
o Dealer Modified Camaros such as:
§ Berger, Tom Henry, etc.
o 2002 GMMG, Inc. modified ZL1 Camaros – only 69 produced in commemoration of the 1969 Camaro ZL1
· Firebird/Trans Ams poised to appreciate:
o 1993-1999 1LE Firebirds
o 1993-2002 Firebird Firehawk
o 1994 25th Anniversary Edition Trans Am
o 1994-2002 convertibles especially with V8 engines
§ Especially desirable are the 1997-2002 WS6 “Ram Air” convertibles
o 1999 30th Anniversary Edition Trans Am
o 2002 35th Anniversary “Collector’s Edition” Trans Am
o 1996-2000 Formula with “Ram Air” cold air induction system (RPO WS6)
o 1996-2002 Trans Am with “Ram Air” cold air induction system (RPO WS6)
As the aforementioned cars come to market over the next several years, I believe you will see several great buys at auction and throughout car corrals. Look for the cars that are listed above, but don’t limit your search to just those cars. A clean V8, otherwise standard issue Camaro/Firebird is a good investment, but look for the cars listed above to appreciate at a higher rate than the standard issue V8 examples. Nonetheless, investment in a 1982-2002 General Motors F-Body will provide you with a drivable interest-bearing savings account.
Bid with knowledge. Buy with confidence.
This article was written by Bryan W. Shook, Esquire the founder of Vintage Automotive. Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market. Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com.
State of the Hobby – March 2009
A review of the Collector Car Market in light of the current Economic Situation
Even considering the uncertainty of the current economic state antique and collector vehicles remain to be good investments. Over the past year we’ve seen the Dow Jones Industrial Average plummet from a high of 13,136.69 to a low of 6,469.95 only a few days ago. This is an evaporation of over 6,600 points or better stated, over 50% in less than one year’s time. How does this translate to the collector car market? The simple translation is BUY!!!
Current market indications are that while the wind may be out of the sails of the Dow Jones, the collector car market, viewed as a whole, is holding its own with bargains being reported from nearly every auction, which is a reiteration that we are in a buyer’s market. Overall, the collector car market has not experienced the same dramatic, marked decline as the Dow Jones. Collector cars remain a great place to park your money. Properly purchased collectible vehicles, if nothing else, continue to be an enjoyable savings account.
The collector car market, like any other free, open market, is driven purely by economics. The premise is simple: supply and demand. Given the current uncertainly of Chrysler, General Motors and Ford, collectively known, at least for the time being, as the “Big Three”, demand for stylish, desirable cars from their past will continue to be high, much higher than supply. It was announced by General Motors on February 20, 2009, that, at least for the time being, all sixty engineers of the High Performance Vehicle Operations (H.P.V.O.) have been “temporarily” reassigned. H.P.V.O. was the birthplace of high performance and specialty vehicles from GM. Therefore it is easy to predict that the future of desirable collectible vehicles from GM will be extremely limited. Over the years, the group has developed vehicles such as the Cadillac CTS-V, STS-V and XLR-V, Chevy SSR, HHR SS, TrailBlazer SS, Colorado V8 and the Saturn Ion Red Line.
Over the past several years we were blessed to see some great vehicles come to life from the drawing boards and auto shows and into the dealerships. These vehicles include the Ford GT, newly redesigned, Ford Mustang, the Dodge Charger and now the Dodge Challenger and Chevrolet Camaro. Other collectible offerings include the Dodge Viper, Chevrolet Corvette C6 Z06 and C6 ZR-1 and the Saturn Sky and Pontiac Solstice roadsters.
To collectors’ detriment, the recent economic viability plans submitted to Congress on behalf of the Big Three, predict a paucity of desirable (i.e., collectible) vehicles from Detroit. Instead of producing niche vehicles it seems that hybrids and alternative energy vehicles will be receiving all of the design dollars and energy in the coming years. You should be admittedly suspicious of this choice to design cars around the strings attached to federal bailout monies … hopefully this won’t lead to the insipid vehicles that came from Detroit after the smog regulations were rolled out in the early 1970s. Given the current unfortunate economic situation, headlined, by the Big Three’s struggle to survive, the collector car market stands to benefit exponentially by an increased demand for the past-produced models; especially the high-performance models.
To the true collector, the economy does not necessarily play a role in whether to purchase a vehicle. The true collector’s decision to purchase a vehicle is driven by price, desire to own the vehicle, and the hobby’s market…not the stock market. Buying with this in mind will result in a good vehicle purchased at a good price and a safe investment; or in the very least a good savings account. In contrast to the sharp decline of the stock market over the last year, to the best of my knowledge, we have not seen a single collectible vehicle decrease by 50% in value in less than one year’s time!
Bid with knowledge. Buy with confidence.
This article was written by Bryan W. Shook, Esquire the founder of Vintage Automotive. Attorney Bryan W. Shook is a devoted automotive enthusiast, but is also an experience litigator who devotes a large portion of his law practice to helping other collectors and hobbyists understand today’s market. Attorney Bryan Shook is available throughout the United States for consultation, advice, and information. If you’d like more information about this topic or would like to speak with Attorney Bryan W. Shook please email him at BShook@shooklegal.com.
Welcome to Vintage Car Law
Attorney Bryan W. Shook through his firm of Vintage Car Law serves the niche market of the collector car hobby. The goal of Vintage Car Law is the preservation of all aspects of the collector car market.
Founder, Bryan W. Shook, is a true car guy, in every sense of the word. He is not only a collector, restorer and hobbyist, but is also an attorney who devotes a large portion of his practice to helping other collectors and hobbyists understand today’s market. Currently, Attorney Shook is litigating several automotive deception cases and represents clients in nearly a dozen states.
Through many years of collector-vehicle restoration and overall market analyzation, Attorney Shook is able to accurately and confidently advise his clients as to which vehicles to purchase and which vehicles to stay away from. Further Attorney Shook has been invited to give his insight into the collector car market by several venues including the Ocean City, Maryland Collector Car Auction held annually in February.
Attorney Shook is available at all major automobile events within the United States for consultation, advice, and information.
For more information, please call 717-884-9010 or email BShook@shooklegal.com.
Who I am
I am an attorney with a specialized interest in the collector car market. From a very young age I have been involved in the antique and collectible car hobby. As a true automotive enthusiast, automobile collector and restorer, I work diligently to combat fraud, misrepresentation and unfair transactions on eBay and throughout the hobby. I am devoted to the education of collectors and car enthusiasts, and I regularly work with other law firms, automotive experts and law enforcement officials across the United States and Canada to actively pursue collector car matters for my clients. My extensive library of auto reference materials and knowledge of the collector car market have established me as a highly regarded individual, hobbyist and attorney among automotive enthusiasts throughout the country.
For more information, I can be reached at 717-884-9010 or by email at bshook@shooklegal.com
