$750K HO, how far off is the 1mil mark?

[Bushbasher]

Just saw this on Sunday Sunrise and am gob smacked, it's getting a bit silly I think but geez, wouldn't you love to have had one in your shed 4 years ago when they were going for $100K.

$750K GTHO


Bushbasher

[Falcon_Phill]

Yeh well it can get as silly as it wants now since ill never be able to afford one.

[Whitey-AMG]

I'll be making my trip up to Shannon's auctions tomorrow to make my bid......

Seriously though, we were all laughing our selves senseless when the 1st one sold for 150K !!!!!!!!!!!!!!

These cars are now firmly entrenched into the minds of Investors.........they are way beyond a BATHURST legend........they are now Business propositions.

1 mil is just around the corner.

I can't wait to see the auction.

[xy351]

thats amazing.... but how much further could it go...

[42 PHASE3]

Originally Posted by xy351

thats amazing.... but how much further could it go...

rods tip is that good orig cars will be pulling 2mill in 5 years time, repo restos need not apply.


rod

[flappist]

It will go up until it collapses like all things. I know a person in the GC who has a rare Ferarri that he was offered $1,000,000 for in 1987. Black Monday! The best he has been offered since is a bit under $400k.

GTHOs are going silly because there is a small group with a huge amount of money paying bongo dollars way above reality. One day it will fall over and the price will came back to a more sensible level.
All it needs is an economic turn down and a few GTHOs be reposessed by finance organisations who will flog them for what ever they can get.
If Shannons or whomever ran an auction with 30 reposessed genuine Phase 3 GTHOs do you think they would all sell for $750k each? Or would those with the dollars just let the price plummet and pick them up cheap? In an economic slump most people do not have the cash and the banks will not lend except at silly interest rates and then only with huge collateral.
Then a few investors panic and dump their cars before the price drops further causing the price to drop further. Spiral dive into the ground.

How many remember how cheap s/h Porsches got in 1988?

We have an election in a few months. It is possible we will have a change of government and the potential incoming troops have a historical reputation.....

[Blue Oval Mopar Man]

Originally Posted by flappist

It will go up until it collapses like all things. I know a person in the GC who has a rare Ferarri that he was offered $1,000,000 for in 1987. Black Monday! The best he has been offered since is a bit under $400k.

GTHOs are going silly because there is a small group with a huge amount of money paying bongo dollars way above reality. One day it will fall over and the price will came back to a more sensible level.
All it needs is an economic turn down and a few GTHOs be reposessed by finance organisations who will flog them for what ever they can get.
If Shannons or whomever ran an auction with 30 reposessed genuine Phase 3 GTHOs do you think they would all sell for $750k each? Or would those with the dollars just let the price plummet and pick them up cheap? In an economic slump most people do not have the cash and the banks will not lend except at silly interest rates and then only with huge collateral.
Then a few investors panic and dump their cars before the price drops further causing the price to drop further. Spiral dive into the ground.

How many remember how cheap s/h Porsches got in 1988?

We have an election in a few months. It is possible we will have a change of government and the potential incoming troops have a historical reputation.....

While I agree with some of what you wrote , I also think some of it is wrong !No fianace company will lend money for the purchase of a 36 year old GT HO these days ( They couldnt justify the prices ) unless it was a personal loan for maybe a small percentage of the cost ! And then with a personal loan, its unlikely they would take the car ! Also With only an estimate of only around 100 GT HO's surviving today , they will never turn up at an auction in numbers of more than maybe 2 or 3 , and even that would be unlikely ! Even if the market does crash , to maybe half what it is today , they will still be out of the reach of 99% of the population anyways !

[Stefan]

Can anyone here confirm the sale? seems this just came out of the blue and everyone is suprised? To me it sounds like hype from a car sales man who just happents to have another more desireable combo for sale.

A great way to inflate the pices a little more! In any case I'm not buying one but would just like to confirm if a sale actually occured. Usually the GT owners and club member know about these sales before the news does but not this time.

[Bossxr8]

The bubble will have to burst soon. Remember how much E type Jags were going for before the prices dropped like a stone. Wheels report of muscle car prices said any level of recession will send the prices plummeting.

[Falcon_Phill]

Its funny how it says 5 years ago they were $100 000. Now XY GT's are that price, I wonder if they will follow in the same ridiculous trend.

[flappist]

Originally Posted by Blue Oval Mopar Man

While I agree with some of what you wrote , I also think some of it is wrong !No fianace company will lend money for the purchase of a 36 year old GT HO these days ( They couldnt justify the prices ) unless it was a personal loan for maybe a small percentage of the cost ! And then with a personal loan, its unlikely they would take the car ! Also With only an estimate of only around 100 GT HO's surviving today , they will never turn up at an auction in numbers of more than maybe 2 or 3 , and even that would be unlikely ! Even if the market does crash , to maybe half what it is today , they will still be out of the reach of 99% of the population anyways !

No the reposession goes like this.
Person has lots of assets e.g. property.
Person has spare $1M and buys GTHO.
Person invests in development/shopping centre/dodgy deal.
Aforementioned investment goes splat.
Bank comes a hunting and seizes all assets including GTHO.
Bank bean counter (secret holden bogan) sells 36 year old falcon for redbook value i.e. $50k

Remember the people who are buying $750k GTHOs did not make their money as a PAYG employee, they are players not observers.

Put is more simply. If you have land valued at $5M and you owe $4M on it you have a theoretical $1M. If the land market falls like it did in 1999, 1987, 1975 etc and your land is valued at $3M you now owe $1M more than you have. The bank gets jittery and calls in the debt.
Game Over.....

As far as they might go back to half? What is that based on? They will go back to whatever they can be sold for and no more.

[4Vman]

A couple of points here:

Nobody i know borrowed money to buy their PH3...
Nobody i know who is a director of a company has their PH3 in their name, most are smart enough to keep their assets and investemnts at "arms length".
Nobody i know who owns a PH3 would bat an eyelid should a recession hit,
Nobody i know who owns a PH3 would EVER sell it for less than they paid for it.

Also.. a good source has a register and there are 187 confirmed alive (isn one form or another) PH3's .

[Bossxr8]

Originally Posted by 4Vman

A couple of points here:

Nobody i know borrowed money to buy their PH3...
Nobody i know who is a director of a company has their PH3 in their name, most are smart enough to keep their assets and investemnts at "arms length".
Nobody i know who owns a PH3 would bat an eyelid should a recession hit,
Nobody i know who owns a PH3 would EVER sell it for less than they paid for it.

Also.. a good source has a register and there are 187 confirmed alive (isn one form or another) PH3's .

Wheels story on the guy who bought the 680k HO quoted him as saying he had to go to the bank to get a loan to buy it.

[JAZSXY]

Originally Posted by 4Vman

Nobody i know borrowed money to buy their PH3...

But how many out there have? That is the question. And some rather than investing in property may be investing in a PH3. An average property might gain value by $40-50K over 5 years say (depending on location), but the PH3 went from being around $150k 4-5yrs ago as mentione above to around 600-800K now. You work out the % it has gained value by over the same time as the average property. With a higher return in a shorter period of time these cars are prime targets for any investors these days.

[Bearman]

Out of my league, WAY out!!!

I love these cars but the money involved now is mind boggling!!

[4Vman]

ALLOT of superannuation funds "own" PH3's...

[Flouro_Joe]

Nice work for him. He starts a website that is one of the main driving factors behind owner's of old cars like this demanding a king's ransom for such so called "Aussie Muscle Cars" and he makes a record sale with his. How does one earn the title of "expert valuer"??? More like expert hyper. There's an SLR 5000 on there for $145,000 FFS. And a stack of overpriced XA GTs.

[GRNKPR]

Originally Posted by Bossxr8

Wheels story on the guy who bought the 680k HO quoted him as saying he had to go to the bank to get a loan to buy it.

yeah but did they also note the assets this guy has and the other cars and business and property ???????????????????

[flappist]

Originally Posted by 4Vman

A couple of points here:

Nobody i know borrowed money to buy their PH3...

Yes but how many of them paid $750k and how many have had them for a while?

Originally Posted by 4Vman

Nobody i know who is a director of a company has their PH3 in their name, most are smart enough to keep their assets and investemnts at "arms length".
Nobody i know who owns a PH3 would bat an eyelid should a recession hit,
Nobody i know who owns a PH3 would EVER sell it for less than they paid for it.

Also.. a good source has a register and there are 187 confirmed alive (isn one form or another) PH3's .

You know all 187 of them do you?

It only takes a couple to pull the price down and they are worth NOTHING unless you sell them. You cant mortgage them can you?

I seem to remember a LOT of people in 1987 who had all sorts of goodies stashed away and when it fell over. Cars, boats, houses etc all got firesold because if you choice is a) own a GTHO or b) eat, most people don't choose a).

Everything goes through cycles, always have, always will. For anyone to think that ANYTHING is exempt from this is living in denial.

GTHOs are a popular item with a current group who now have money and there teenage dream was to own a new GTHO. In 30 years there will be very few people who were alive in 1971 and the ones with the money will be the kids who currently drool over R34 skylines etc. Hopefully some of these kids will still be interested and the GTHO will not be shown between the model T and Austin 7 at some car museum while the masses line up for the "All Hyundai & Camry Day" shows.

[GRNKPR]

Originally Posted by flappist

Yes but how many of them paid $750k and how many have had them for a while?
You know all 187 of them do you?

It only takes a couple to pull the price down and they are worth NOTHING unless you sell them. You cant mortgage them can you?

I seem to remember a LOT of people in 1987 who had all sorts of goodies stashed away and when it fell over. Cars, boats, houses etc all got firesold because if you choice is a) own a GTHO or b) eat, most people choose a).

Everything goes through cycles, always have, always will. For anyone to think that ANYTHING is exempt from this is living in denial.

GTHOs are a popular item with a current group who now have money and there teenage dream was to own a new GTHO. In 30 years there will be very few people who were alive in 1971 and the ones with the money will be the kids who currently drool over R34 skylines etc. Hopefully some of these kids will still be interested and the GTHO will not be shown between the model T and Austin 7 at some car museum while the masses line up for the "All Hyundai & Camry Day" shows.

i wasnt born when some of the top dollar BUGATTI s were released and they still pull the big bucks

[congo3sr]

Originally Posted by 4Vman

ALLOT of superannuation funds "own" PH3's...

wow,my super hasnt listed a HO in there portfolio,could you tell me which ones do so I can have a punt eachway?
cheers george

[DoreSlamR]

Article in the SMH:

http://www.smh.com.au/articles/2007/...205572256.html

[GTPete]

There a very limited product. Theres 180 odd left in a country of 20 million. Its simple maths theres not enough to go round and with such a small number the price can only go one way. If theres any change it will be a correction not a complete slump and its the other models down the line that will suffer the most. Ph 3's are equal to waterfront property in my book.

[flappist]

Originally Posted by DoreSlamR

Article in the SMH:

http://www.smh.com.au/articles/2007/...205572256.html

Well others seem to think the same as me.

Questions:

1) Does anyone here think that there will never be a another recession in Australia?

2) Does anyone think that muscle cars will be exempt from the financial chaos that happens during a recession?

I wonder of the Grange collectors, military aircraft collectors, art collectors and/or all the other train spotters would disagree and profess how their passion will survive while all others are cast asunder because everyone THEY know follows that passion.....

[4Vman]

Originally Posted by flappist

Yes but how many of them paid $750k and how many have had them for a while?
You know all 187 of them do you?

It only takes a couple to pull the price down and they are worth NOTHING unless you sell them. You cant mortgage them can you?

I seem to remember a LOT of people in 1987 who had all sorts of goodies stashed away and when it fell over. Cars, boats, houses etc all got firesold because if you choice is a) own a GTHO or b) eat, most people don't choose a).

Everything goes through cycles, always have, always will. For anyone to think that ANYTHING is exempt from this is living in denial.

GTHOs are a popular item with a current group who now have money and there teenage dream was to own a new GTHO. In 30 years there will be very few people who were alive in 1971 and the ones with the money will be the kids who currently drool over R34 skylines etc. Hopefully some of these kids will still be interested and the GTHO will not be shown between the model T and Austin 7 at some car museum while the masses line up for the "All Hyundai & Camry Day" shows.

None i know paid $750k... but then again these guys are smart...
No i dont know all 187.. but id say i could account for over 18.
At the end of the day there's sweet F A left, most if not all are owned by those with very deep pockets, or they bought them for SFA..
Im amazed at their value like most are, but there's more buyers around at the moment then sellers, and i can't see that changing in the short term at least.

[congo3sr]

:

Originally Posted by congo3sr

wow,my super hasnt listed a HO in there portfolio,could you tell me which ones do so I can have a punt eachway?
cheers george

[flappist]

Originally Posted by 4Vman

None i know paid $750k... but then again these guys are smart...

Ah so the ones that pay $750k are not smart? You have rebuked your own argument.

Yes GTHOs are collectable.
Yes GTHOs are a piece of history.

and

Yes GTHOs are going silly in price.

The REALLY smart guys are going to sell theirs just before the bubble bursts and then buy it back afterward for a huge profit and wait for the next cycle.

Kerry Packer once sold CH9 to Allan Bond and and then bought it back for $900,000,000 less. I suspect both these men had more money than every GTHO owner combined.

[Sick EB]

outragiously big amount of money. but only 100 people in the WORLD can say they have one. the GTHO PH3 is the mecca, the holy grail of 'Ford' i believe. btw you would want to have a garage/security worth that much or more to store this item.

[SpoolMan]

Spirited debate is ok, but play nice boys..

[Flouro_Joe]

Originally Posted by GRNKPR

i wasnt born when some of the top dollar BUGATTI s were released and they still pull the big bucks

This dude must have known something hey.
http://www.europeancarweb.com/museum.../photo_05.html