[pdupler]

Probably with all the easy money out there.

Well I hope nobody is using their PPP loan to bid on this Supra, but it wouldn't be the first instance of that happening. I haven't figured out what's going on with this economy but something is amiss. People are still bidding on classic cars like nothing is wrong. Hell, you can't even take your new purchase to show it off at a classic car show. I know this pandemic has mostly hit the lower wage workers who wouldn't be bidding on classic cars anyway, but I know several people who would have been in the market who aren't due to job loss and business failure and I was IN as of last February, but have postponed the search because I don't want to risk travel (for inspection) under these circumstances. Logically it would seem a bad time to be selling a classic car with so many buyers out of the market. Somehow it just doesn't seem right that any of the stimulus money is going to classic cars because you know if they're buying a classic car with it, they didn't need it in the first place. The only consolation is for those who've lost jobs and having to sell their baby to make ends meet.

 

[RedP85]

Around here, the house market is totally wild. There is bidding war on houses!!
They sell in no time, at many tens of thousand $ more than original asking price.
Go figure that out?!

 

[SilverMk2]

You've got a lot of people like me that made the same money or better this year and have nowhere to spend it. My spending has plummeted this year while making more than ever. I'm not eating out, buying gas, seeing movies, going on vacation, or much of anything really. It's a weird economy since hobby stuff is doing gang busters business and all the restaurants are going out of business.

The FED has been printing money like its going out of style so the markets are through the roof, but the value of that money is going to plummet. The fact of the matter is 35k doesn't buy you much these days. That buys you a decent midgrade new Camry, Camaro, or Mustang and those are everywhere so people have that kind of money. You can easily bid this thing to 100k and finance it for 12 years for like 800 a month. It would be a dumb decision, but you can do it. I've been watching a lot of youtube this year and there have been a lot of "car collection tours". It gives you a pretty good idea of guys that are buying cars on BAT. A lot of these guys have warehouses of high end cars and I doubt they even notice $40k drop in their balance for a car like this. They can afford to speculate on something like this that may gain value because if was in the fringes.

 

[bshapton]

Around here, the house market is totally wild. There is bidding war on houses!!
They sell in no time, at many tens of thousand $ more than original asking price.
Go figure that out?!

Not hard to understand at all. The way governments are printing money the dollars will tank in the bank and investment grade assets must appreciate. Simple economics. 😎

 

[pdupler]

Unfortunately, there's nothing simple about economics.

 

[SilverMk2]

Interesting the current high bidder at $31.5k has spent ~$120k on 5 random low mile JDM cars since June this year. A couple of users back the next bidder has spent ~$250k on 5 Mercedes since last year. Another bidder has spent ~270k on 5 cars over the last year. Another one about 160k on 5 cars over the last year. Gotta figure guys that can drop 200k on several cars in a year are in a different league than the typical CS.com user.

 

[bshapton]

Unfortunately, there's nothing simple about economics.

Read 'Economics in One Lesson' by Henry Hazlitt.

 

[Suprabee]

Interesting the current high bidder at $31.5k has spent ~$120k on 5 random low mile JDM cars since June this year. A couple of users back the next bidder has spent ~$250k on 5 Mercedes since last year. Another bidder has spent ~270k on 5 cars over the last year. Another one about 160k on 5 cars over the last year. Gotta figure guys that can drop 200k on several cars in a year are in a different league than the typical CS.com user.

so it just sold for $38.5K. I agree with SilverMk2. Its clear that this car and a couple of the more recent MKII supra auctions on BAT are being bought by mass car collectors. No one in their right mind who is planning to drive this or keep it in their garage (like 99% of us here) would spend this kind of money IMO. This person will just park the car as it is, and hope that it will appreciate even more in the years ahead. Personally, I don't think it will. I love these cars, but they are simply not worth this kind of money even with such low mileage. But this is coming from me (someone who would actually drive this/any car). This buyer will not, and so it will sit as it is, and the seals, and gaskets, and other rubber will age. I think the buyers of these low mileage MKII's don't really know the market for them. Perhaps its the new supra that is raising their eyebrows with hope of a return in investment with these earlier models. I think in time, they will come to realize they are not able to get back their investment, and these low mileage cars will return to the auction block and sell for much less. So for me, I wait for that time to come, when I can take ownership of one of these and drive and enjoy them on the road which is what they were meant for.

 

[Beernuts]

True. I'm not very fond of people buying cars just for the investment, they're often not really car people, and just bring up the price of such gems and the insurance for our loved cars. At least they don't vaccuum the market for parts, so we're still able to keep ours running!

 

[RedP85]

Well, this makes it the highest sale number MK2 known at this point.
Car will probably go back under a cover, as it was fir the last 20 years, as explained in the BaT message:

the-rodster (The Seller) :
OK, here is a little history on the car.
My aunt bought it new in July of 1985 at Beaman Toyota in Nashville, TN. At the time, she was in her mid fifties, divorced, no children, and enjoyed road trips with her boyfriend to the Smokies. At about the same time, she purchased a matching (Maroon) fully loaded Honda Goldwing. The Supra and the Goldwing were her prize possessions. When not driving the Supra, she and her boyfriend were out cruising on the Goldwing.
The Supra was never her daily driver, she had a Jeep for that. During the first 15 years that she owned the car, it was just driven on sunny weekends through the mountains. When not driven, it was stored in a heated garage under a car cover. She averaged driving it 800 to 1,000 miles a year for the first 15 years.
By the time she reached her seventies, she drove it very little, but would go to the garage and start it on a regular basis. Even though she didn’t drive it that much, she still took it to the local Toyota dealership for service every couple of years.
It’s sad, but my aunt is now in her 90’s, lives in a rest home, and has no need for the car.
She will be pleased that someone else is getting to enjoy the car as much as she did.

 

[drftsupramk2]

True. I'm not very fond of people buying cars just for the investment, they're often not really car people, and just bring up the price of such gems and the insurance for our loved cars. At least they don't vaccuum the market for parts, so we're still able to keep ours running!

I couldn't agree more, I'm not fond of people raising the prices on these cars because they are just an investment vehicle. I prefer this crowd to the drift assholes. The guys that tear out the interior and throw it in the trash when they buy the car. But I realize times change and we must change with them.