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    Thread: What is the best route to sell a moderately high value classic mustang?

    1. Member fixmy59bug's Avatar
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      03-17-2020 05:45 PM #1
      Important Edit: It turns out the car is not an R-Code SCJ, but was in fact born an F code 302 V8. It is an SCJ Clone. :sadface:

      My dad just passed away last week, so my mom has asked me to help with selling some of his property.

      The biggest task is going to be his Mustang. It is a 1970 R-Code 428 Super Cobra Jet Convertible. From what I have found, there were only 9 SCJ convertibles built in 1970. And from what my dad, said, this is 1 of 3 with the Deluxe Black vinyl interior and 3.91 Drag Pack.

      According to Hagerty, this car in good to excellent condition should be around $115-$140K. BUT, the car is slightly disassembled and extremely dirty. The body is in GREAT shape with nothing more than a few nicks in the paint. The dashboard and instrument cluster currently reside in the back seat because dad was doing some wiring repairs when he fell ill and never recovered. The master cylinder is currently out of the car because he didnt like the way the Wilwood master cylinder looked. And the interior is FILTHY because it has sat inside the detached garage (in horse country) for the last two years with the top down. If I repair the dash wiring (shouldnt be a problem, I am great with electronics), reassemble the dash, reassemble the brakes, and do some much needed maintenance, it should be back in great running condition.

      The problem is that I've never had to sell anything of this value so I don't know what to look into. I have a few options.

      Option 1a: Call Richard Rawlings and see if Gas Monkey wants to buy it as is. Let them put the work into it. But that lowers the value we could ask for it, Then Richard would chop us off at the knees because they have to be able to make money on it too.

      Option 1b: I fix it and get it running THEN call RR and sell it.

      Option 2a: I have a friend out here who is in the business of selling vehicles at the big name auction houses (Mecum, Barrett-Jackson, etc). He said he would be glad to list it for us for a small fee. The fee has not been discussed yet because he wants pictures to see what he would be selling. Then the auction house would get a (typically) 10% sellers fee, and approximately a $1,000 listing fee. He recommended Mecum because then we could put a reserve on it.

      Option 2b: My friend said he may be interested in buying it (depending on pictures) and let him fix it up and let him assume all the risk (or possible reward).

      Keeping it is NOT an option. Dad specifically told mom and I to sell it. He knew it would be a point of contention with us kids (3 boys who are all gear heads), so I am going to do as he asked.

      Are there any other options I should consider?

      Pic for Attention, This is not his exact car, but (when it was built) it was exactly the same. It has had some tasteful (easily reversible) upgrades.

      Last edited by fixmy59bug; 03-25-2020 at 06:09 PM.

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    3. Junior Member burgerbob's Avatar
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      03-17-2020 06:03 PM #2
      Let me start with the obvious... I am deeply sorry for your loss. I fear the day I lose the rock that started it all for me. Cars are our deepest bond and I'm sure you will always have the greatest co-driver now.



      But.. WOW! Talk about a rare car... That is super awesome. So first, I am going to ask what you would like for the car as it sits? Please tell me something outrageous. I do not want to consider this for much longer.

      More realistically, I would suggest getting it cleaned up and back to stock. Take your time and let this crazy world calm down a little bit. It will also give you and your brothers some time to reflect and take it all in. Then I would contact Mecum/Barret-Jackson. I can only speak to Barret-Jackson as I have not gone to a Mecum auction, but that is certainly the route I would take. Gives more peace of mind with the ability to post a reserve and knowing it has a high chance of staying true to what it is and not turning into a Discovery Channel hot rod. People love "survivors". My '73 Mach 1 is considered to be a survivor as it is all original, nowhere near the value of the SCJ... but still. Old heads love it. That will attract a ton of attention from all the right people on a podium such as Mecum or Barret-Jackson.

      Best of luck and may your dads ride live on!
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    4. Geriatric Member Air and water do mix's Avatar
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      03-17-2020 06:12 PM #3
      Firstly I’d like to offer my sincere condolences. Unfortunately I know how you feel.

      Secondly, now it makes sense why you’re selling it. With one gearhead kid it’s easy, with two or three someone is likely going to feel as if they’ve gotten the short end of the stick. Auction and splitting it however he wanted seems prudent.

      I wish I could help, but with your options I’d be leaning towards finishing it yourself and then letting your friend list it. You wouldn’t have Rawlings hacking it up afterwards and more importantly you'd have the satisfaction of completing your dad’s project. Dad and I didn’t share a love of cars, but I wish we did. You have the opportunity to “work with him one more time”, so I’d definitely take it.
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    5. 03-17-2020 06:31 PM #4
      Fix it up, list on bring a trailer?
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      03-17-2020 07:13 PM #5
      As said, very very sorry about the passing of your Dad. I am another one dreading that day.



      So here's another idea...and i'm not sure what the dynamic is with your brothers but you guys are all car guys and obviously have some interest in that car...soooo, put it to work. Pool your money and resources, get it back to stock and in good running order. Not a full restoration, but just solid running order, then sell through B-J or BAT. It just seems like with a car like that it would be worth taking the time to do properly. And unless your dad said something specific, do you have to immediately sell it or can you sell it when the time is right? Another thought in addition is, with the chaos we have going on it the world today, you will have some extra time to get it in good running order by the time people will start spending money again, because right now is absolutely not the time to try and sell that particular car. Good luck man and keep us posted on how things work out.
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    7. Senior Member PowerDubs's Avatar
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      03-17-2020 07:48 PM #6
      Put it back to stock as much as possible- and then hire a very experienced and knowledgeable detail shop. Not some local guy advertising on craigslist or has a 'business' email that ends in @gmail, @yahoo, etc.

      Once cleaned up and running well- again pay someone to take it somewhere with a good background and with great lighting and take a bazillion hi-res pictures of every angle, every nook and cranny.

      Pick a good amount of the pictures, and along with any documentation you have, write a detailed history- list it on Bring a trailer.

      Anyone who is into cars keeps an eye on that site... this isn't 2006 anymore.

      You will have a longer exposure time, to a wider market, with less fees.

      Good luck and sorry for your loss. My father passed 7 years ago now- seems like 2 or 3.. Ugh.
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    8. Member Phil Pugliese's Avatar
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      03-17-2020 08:57 PM #7
      Bring a trailer.

      But I wouldn't sell anything (but the obvious toilet paper ) at the moment. Put it back into safe storage until the market returns.
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    9. Member audi80Quattro's Avatar
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      03-17-2020 10:32 PM #8
      First off, sorry for your loss. Losing a parent is never easy.

      I mirror other commenters with BaT but I'd fix the car up and go the BaT Premium route.

      https://bringatrailer.com/premium/

    10. Senior Member Sporin's Avatar
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      03-17-2020 11:17 PM #9

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      03-18-2020 01:03 AM #10
      Sorry for your loss.

      I’d wait for the market to stabilize before I even think about trying to move it.
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    12. Geriatric Member Air and water do mix's Avatar
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      03-18-2020 08:41 AM #11
      Quote Originally Posted by forewheel View Post
      As said, very very sorry about the passing of your Dad. I am another one dreading that day.


      So here's another idea...and i'm not sure what the dynamic is with your brothers but you guys are all car guys and obviously have some interest in that car...soooo, put it to work. Pool your money and resources, get it back to stock and in good running order. Not a full restoration, but just solid running order, then sell through B-J or BAT. It just seems like with a car like that it would be worth taking the time to do properly. And unless your dad said something specific, do you have to immediately sell it or can you sell it when the time is right? Another thought in addition is, with the chaos we have going on it the world today, you will have some extra time to get it in good running order by the time people will start spending money again, because right now is absolutely not the time to try and sell that particular car. Good luck man and keep us posted on how things work out.


      In a selling situation stock is best. Custom mods are just that. Custom. That means they are particular to one's taste, but the potential buyer is as likely as not wanting a completely different aesthetic, and a stock car is better for that whether the end result is to be custom or not.

      Build it back. If you can do it with your brothers, so much the better.
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    13. Member Phil Pugliese's Avatar
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      03-18-2020 10:31 AM #12
      To build it back is very important if done right. To do it right is not inexpensive. If it costs $30K to do that and in only draws $20K more, it is not a good investment. We have seen unique "barn finds" come to the block still covered in dirt and dust. Unfortunately, BaT is awful with communication but I would still try to reach out to them for their opinion on what the best route is. I assume it is not a rush to sell this and the estate needs the money, if it was, it would have been done a while ago. So, you have time to research and do what is best. I would also start researching the Mustang boards and see what they say.
      Last edited by Phil Pugliese; 03-18-2020 at 02:51 PM.
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      03-18-2020 10:58 AM #13
      RE: BaT vs Mecum/B-J.

      Mecum and Barrett publish their docket listings in advance of the auction, and bidders go to those events ready to meet the sellers and inspect the car(s) they're specifically looking for out of those published docket listings.

      This type of car is exactly that fits the target market for the crowd and buyers at the live auctions. If you and your siblings are all car guys, it will only garner that much more connection with the folks coming to visit if you all could go there and be available to share the story of how beloved this vehicle was to your father, and then you can all share the experience of getting to see it off in an exciting celebration of other people who all share the same enthusiasm for cars just like your father's. That being said, I'd plan on it being a mild restoration project between you all that can and should take its time since this upcoming year isn't going to be kind to frivolous purchases.

    15. Member Shmi's Avatar
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      03-18-2020 12:08 PM #14
      Nothing to add, just wanted to say I'm sorry for your loss.

    16. Moderator Harv's Avatar
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      03-18-2020 12:37 PM #15
      If you want it out of your life, Bring a Trailer can list it as a project car. You pay your $99 and be done with it. But you have to be reasonable about your reserve if so.

      If you want to go the old school auction houses, you have to spend the money to transport it there, then pay your entry fee of $1,000, then pay your 10% seller fee on top of that.

      I know losing a parent sucks, but I would take the path of least resistance and least hassle. I used to hold out for every extra penny, but honestly my time is more valuable now. Give me a reasonable offer, and get it out of here.

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      03-18-2020 12:38 PM #16
      I'm so sorry for your loss.

      Agreed that you now have the luxury of time to get the car as stock as possible, and as clean as possible (without removing any originality which collectors seem to prize today). Given the very rare nature of this car, I think doing the research to determine what the best channel is makes sense. Hagerty would be a good resource for this. I'm not entirely sure BaT brings top dollar for american muscle cars, but it would be worth consulting them once the car is ready.

    18. 03-18-2020 12:41 PM #17
      Even though you're all gear heads, would you all actually be clamoring over this particular car? Might make sense to come to some sort of arrangement amongst yourselves so the car can remain in the family. Maybe two of you cash the third one out at some FMV, or time-share it.

      Echo all the sentiments about timing, but I would still say BAT is always the answer for ease and efficiency. You should also be able to negotiate a reasonable reserve to protect the car, given its rarity and provenance.

    19. Member Pnuu's Avatar
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      03-18-2020 01:03 PM #18
      I'm sorry for your family's loss.

      Depending on the timing of the sale and labor/resources available, you'll either need to list it as a project or put the time and money into finishing the car. If the family isn't into it and just wants to see the car sold, you'll definitely need to find a buyer who knows what he's looking at and is willing to pay the value of the parts on hand.

      BaT projects, BJ, Mecum, etc should all get phone calls to see what they think of it. Good luck.

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      03-18-2020 01:09 PM #19
      Sorry for your loss - I also lost my dad, 3 months ago tomorrow. Lost my mom almost 14 years ago. It sucks.

    21. Member fixmy59bug's Avatar
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      03-18-2020 01:25 PM #20
      Thank you to everyone for your condolences. It's great to have a community huddle around and offer advice.

      Quote Originally Posted by burgerbob View Post
      But.. WOW! Talk about a rare car... That is super awesome. So first, I am going to ask what you would like for the car as it sits? Please tell me something outrageous. I do not want to consider this for much longer.
      Well, When it was running and driving around, Dad rejected an offer years ago of around $80k. But that was 10+ years ago, so I am sure it would be more than that now.

      Does that help? LOL

      Quote Originally Posted by Sporin View Post
      Thank you. I never heard of Tom Cotter, but he seems more like the type of person who would do this car justice than the Gas Monkeys.

      Quote Originally Posted by oidoglr View Post
      RE: BaT vs Mecum/B-J.

      Mecum and Barrett publish their docket listings in advance of the auction, and bidders go to those events ready to meet the sellers and inspect the car(s) they're specifically looking for out of those published docket listings.

      This type of car is exactly that fits the target market for the crowd and buyers at the live auctions. If you and your siblings are all car guys, it will only garner that much more connection with the folks coming to visit if you all could go there and be available to share the story of how beloved this vehicle was to your father, and then you can all share the experience of getting to see it off in an exciting celebration of other people who all share the same enthusiasm for cars just like your father's. That being said, I'd plan on it being a mild restoration project between you all that can and should take its time since this upcoming year isn't going to be kind to frivolous purchases.
      See, This is exactly why I was considering Mecum or B-J. The next auctions in my area (Las Vegas) are some of the biggest, but they arent until September and November (if I remember correctly). So I would have plenty of time to clean it up and get it running. Which would then leave plenty of time to create a buzz in the automotive bidding community. I believe there would be quite a few interested parties.

      Quote Originally Posted by thegave View Post
      Even though you're all gear heads, would you all actually be clamoring over this particular car? Might make sense to come to some sort of arrangement amongst yourselves so the car can remain in the family. Maybe two of you cash the third one out at some FMV, or time-share it.
      The oldest brother is in South Carolina and isnt as much of a gear head. But he certainly appreciates classic cars such as this. Plus, he never really had time to bond with dad (Ok, He's a step-dad who came into the family 20 years ago) considering he moved out about 25 years ago. The middle brother (one year older than me) doesnt want the car. It scares him. LOL. I think he knows he would wreck it and/or kill himself in it. I want nothing more in life than to keep the car. I absolutely freaking love it. I spent a LOT of time working on it with him and absolutely HATE the idea of selling it.

      HOWEVER, it was dads wish for us to sell it. I couldnt possibly afford to buy out the shares of my brothers and mom. I dont have a place to safely store it. It is just completely unreasonable for me to have it. So I am going to stick to dads wishes.

      Quote Originally Posted by Pnuu View Post
      Depending on the timing of the sale and labor/resources available, you'll either need to list it as a project or put the time and money into finishing the car. If the family isn't into it and just wants to see the car sold, you'll definitely need to find a buyer who knows what he's looking at and is willing to pay the value of the parts on hand.

      BaT projects, BJ, Mecum, etc should all get phone calls to see what they think of it. Good luck.
      As I mentioned, Mecum and B-J auctions are in September and November (IIRC), so I have plenty of time to work on it. Honestly, I'd rather get it running again. Then take one last drive in it with mom. I only ever got to drive it once in the 20 years he was with us.

    22. 03-18-2020 01:30 PM #21
      Sorry for your loss.


      1. Get the car running and as close to stock or as close to what your dad would have wanted.
      2. Id wait to sell. Market is not great right now and the January BJ was kind of a blood bath for some higher valued cars.

      3. Enjoy the car a little before selling when you do get it running. Building something for dad one last time will stick with you forever.

      Good luck
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    23. Member Pnuu's Avatar
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      03-18-2020 01:39 PM #22
      Quote Originally Posted by fixmy59bug View Post

      As I mentioned, Mecum and B-J auctions are in September and November (IIRC), so I have plenty of time to work on it. Honestly, I'd rather get it running again. Then take one last drive in it with mom. I only ever got to drive it once in the 20 years he was with us.
      This sounds perfect. You have the time, ability, and motivation to finish the car yourself. Make a couple final memories with the car, take lots of pics, and then see it off at auction in 6mo with the full backstory behind the car. I'm sure your brothers will appreciate your efforts and hopefully see the value in waiting to sell later this year.

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      03-18-2020 01:48 PM #23
      Quote Originally Posted by fixmy59bug View Post
      Mecum and B-J auctions are in September and November (IIRC), so I have plenty of time to work on it. Honestly, I'd rather get it running again. Then take one last drive in it with mom. I only ever got to drive it once in the 20 years he was with us.
      Commence build thread! Or rebuild thread rather.

    25. Senior Member chucchinchilla's Avatar
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      03-18-2020 01:50 PM #24
      Terribly sorry for your loss. To max the sale price the car needs to be assembled, mechanically sorted, and fully detailed. It's much better for you to invest the $ now than have someone knock it off the price later...think of it as investing a $1 into the car now so some guy doesn't take $10 off the price later. Note I'm not saying restore the car. With Coronavirus right now you've got an excellent period of time to get this done. Then like others said list it on BaT. Also resist the temptation to send it to Mecum and keep a reserve on the car. While yes it's agreed the car must sell, that doesn't mean it has to sell tomorrow, you've got time and you know your dad would appreciate doing this right.
      Last edited by chucchinchilla; 03-18-2020 at 01:56 PM.
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      03-18-2020 04:57 PM #25
      Sorry for your loss! Might be tough on many levels to sell that car, especially right now.

      First I'd get a Marti report to verify it is what you think it is.

      I'd then hit some forums up with pictures of the car asking for some advice, this will generate interest and get your "find" out there.

      Don't rule out selling it yourself.

      It seems auctions in general have recently not been reaching their target prices. I'd consider Bring A Trailer or finding that collector that just NEEDS one of these.
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