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1966 Lotus Cortina MkI on BAT
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NYCAccountant



Joined: 26 Oct 2016
Posts: 77
Location: NYC / RI

PostPosted: Fri Jun 23, 2017 9:45 am    Post subject: Reply with quote

Brett Wilkie wrote:
Wow! I am trying to wrap my head around that one? The market spoke and bid it up to 76.5, now he adds another 20 or so grand to the asking price??

Greed
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Brett Wilkie



Joined: 16 Sep 2012
Posts: 1100
Location: Vancouver British Columbia Canada

PostPosted: Fri Jun 23, 2017 10:06 am    Post subject: Reply with quote

Does anyone buy these cars to own and drive anymore or is it all just speculators trying to drive up prices?
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Sideways



Joined: 03 Oct 2011
Posts: 232
Location: Delta BC Canada

PostPosted: Fri Jun 23, 2017 10:23 am    Post subject: Reply with quote

Brett Wilkie wrote:
Wow! I am trying to wrap my head around that one? The market spoke and bid it up to 76.5, now he adds another 20 or so grand to the asking price??


In fairness, that $75K was the highest bid, not the asking, which was obviously $20K or so over where the bidders thought it should be.

The psychology is interesting, get the car onto an auction site with whatever reserve you want and let the bidding commence - if it gets to the reserve, fine, if not it is off the auction site but now the baseline is the highest bid - $75K, regardless of the actual 'value'.

We are being trained to - nothing wrong with that as long as we know - except when we want to buy one of these cars!

Maybe I should pop that spare lotus Twin Cam in my GT and put it on BaT as a race car, I am reliably informed that due to the dearth of available cars from this era that many clubs will accept and allow a Bogus Cortina to run as a Lotus Cortina.

Or not...
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Sideways



Joined: 03 Oct 2011
Posts: 232
Location: Delta BC Canada

PostPosted: Fri Jun 23, 2017 4:07 pm    Post subject: Reply with quote

But wait, there's more!!

Buy now and we will include a second one at no extra cost!!!

S&H extra, taxes where applicable, retain all packaging in the event that you want to return it/them.

Now listed on Driver’s Source $105,000.00.

As I said, we are being trained, he will keep upping the price to $150K then when he gets a really stupid, lowball offer of $100K he will reluctantly accept it.
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Brett Wilkie



Joined: 16 Sep 2012
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Location: Vancouver British Columbia Canada

PostPosted: Fri Jun 23, 2017 9:41 pm    Post subject: Reply with quote

The seller may have a strategy/agenda but I personally think byers with that sort of disposable income would not be so stupid and simple minded as to fall into that sort of trap. As I said before, the car has now been exposed/offered on the BAT Forum and the market has spoken, determining it's real value, a car is only worth what someone is willing to pay for it. I have been involved with situations in the past where the seller starts doing all sorts of strange things in order to jack the price up, I just simply walk away. I hope that potential buyers approach this car with a level head, it only takes one idiot to pay an overly huge amount and another president is set. We will be lucky to maybe see this one sell somewhere.
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Sideways



Joined: 03 Oct 2011
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Location: Delta BC Canada

PostPosted: Sat Jun 24, 2017 10:43 am    Post subject: Reply with quote

Brett Wilkie wrote:
The seller may have a strategy/agenda but I personally think byers with that sort of disposable income would not be so stupid and simple minded as to fall into that sort of trap. As I said before, the car has now been exposed/offered on the BAT Forum and the market has spoken, determining it's real value, a car is only worth what someone is willing to pay for it. I have been involved with situations in the past where the seller starts doing all sorts of strange things in order to jack the price up, I just simply walk away. I hope that potential buyers approach this car with a level head, it only takes one idiot to pay an overly huge amount and another president is set. We will be lucky to maybe see this one sell somewhere.


I was being (a lot) tongue in cheek there Brett but there are many out there who get swept along in such things, you see it at auctions, people who have no intention of buying feel compelled to bid.

I have bid on a few cars on BaT but every time I did so I had determined beforehand what the car was worth to me and what I estimated the market value of the car was and I watch people pay far too much money - in my estimation - at auctions.

I don't think the seller has an agenda other than to get the most for the car but along with that comes the 'conclusion' that the car is now worth what it sold for.

Which, I suppose it is.

I will of course shamelessly reference this car when I sell mine, pointing out that mine is much faster and inherently more reliable.

Maybe I should get out the Sherwood Green to complete the illusion... Twisted Evil

For Sale, 1966 Cortina GT with S2000 engine and 6 speed transmission - has three times the power of a standard Gt and twice the power of a lightly modified Lotus Cortina - $120K.

Green stripe will be an additional $5K...
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Brett Wilkie



Joined: 16 Sep 2012
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Location: Vancouver British Columbia Canada

PostPosted: Sat Jun 24, 2017 9:25 pm    Post subject: Reply with quote

Sideways wrote:
Brett Wilkie wrote:
The seller may have a strategy/agenda but I personally think byers with that sort of disposable income would not be so stupid and simple minded as to fall into that sort of trap. As I said before, the car has now been exposed/offered on the BAT Forum and the market has spoken, determining it's real value, a car is only worth what someone is willing to pay for it. I have been involved with situations in the past where the seller starts doing all sorts of strange things in order to jack the price up, I just simply walk away. I hope that potential buyers approach this car with a level head, it only takes one idiot to pay an overly huge amount and another president is set. We will be lucky to maybe see this one sell somewhere.


I was being (a lot) tongue in cheek there Brett but there are many out there who get swept along in such things, you see it at auctions, people who have no intention of buying feel compelled to bid.

I have bid on a few cars on BaT but every time I did so I had determined beforehand what the car was worth to me and what I estimated the market value of the car was and I watch people pay far too much money - in my estimation - at auctions.

I don't think the seller has an agenda other than to get the most for the car but along with that comes the 'conclusion' that the car is now worth what it sold for.

Which, I suppose it is.

I will of course shamelessly reference this car when I sell mine, pointing out that mine is much faster and inherently more reliable.

Maybe I should get out the Sherwood Green to complete the illusion... Twisted Evil

For Sale, 1966 Cortina GT with S2000 engine and 6 speed transmission - has three times the power of a standard Gt and twice the power of a lightly modified Lotus Cortina - $120K.

Green stripe will be an additional $5K...

Yes, I am aware of the tongue in cheek that is often flying around here. I am glad it takes place as you shouldn't get too serious about this stuff and I am guilty of it too.
I suspect that you are correct about auctions though, I think vehicles get bid up over realistic values in the heat of an auction. It will be fun to watch these vehicles complete their auctions.
Your S2000 idea would be a neat conversion, I had considered an easy conversion of that type for my 100e before I went old school with it.
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enfoprefect



Joined: 04 Feb 2009
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PostPosted: Sun Jun 25, 2017 8:40 am    Post subject: Reply with quote

In auctions, the high bidder doesn't "win." He simply agrees to pay more than anyone else thought the item was worth.
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Sideways



Joined: 03 Oct 2011
Posts: 232
Location: Delta BC Canada

PostPosted: Sun Jun 25, 2017 11:46 am    Post subject: Reply with quote

[quote="Brett Wilkie"][quote="Sideways"]
Brett Wilkie wrote:


Your S2000 idea would be a neat conversion, I had considered an easy conversion of that type for my 100e before I went old school with it.


It certainly wasn't easy Brett but it sure makes the Cortina go a lot faster!
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Brett Wilkie



Joined: 16 Sep 2012
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Location: Vancouver British Columbia Canada

PostPosted: Sun Jun 25, 2017 3:32 pm    Post subject: Reply with quote

Maybe that wasn't the one I was thinking about? Is the S2000 a front or rear bowl sump?
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