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Why This '66 Shelby Cobra 427 Mark III Didn’t Sell?
PLUS: Market Reality Check: The AMG GT Black Series' Post-COVID Price Correction
The Daily Vroom
Hey Vroomers!
First off, a massive thanks to everyone who's been sharing this newsletter. You folks are the real MVPs, and I can't tell you how much I appreciate it. Keep spreading the word!
Now, let me level with you. Some days, cranking out this newsletter is tougher than others. Like tonight – I've been out, it's 1 AM, and diving into the nitty-gritty of data feels about as appealing as a flat tire on a road trip.
But here's the thing: since we kicked this off, we've never missed a beat. Five days a week, rain or shine, this little nugget of car goodness has been landing in your inbox. And I'm not about to break that streak now, even if my eyes are half-closed and my brain's running on fumes.
So here we are, another edition in the books. It might be a bit more concise than usual, but the passion's still there. Because that's what we do.
Have an awesome weekend, folks. I'm off to catch some Z's.
Sam
MARKET LEADERBOARD
💰 The figures shared below don’t count any other sales such as car seats, memorabilia etc… All online auction sites are analyzed to put this leaderboard together.
I only include websites that have sold 5+ vehicles in the chart below.
Let's talk about yesterday's numbers. Brace yourselves - it wasn't pretty. We're looking at a measly $5.7m worth of sales. Ouch.
But hey, every cloud has a silver lining, right? For the first time in what feels like forever, we've got a fresh face on our leaderboard. Give it up for ACC, folks! They managed to sneak in there and shake things up a bit. About time we had some new blood.
Now, remember that 1995 Ferrari 456 GT I was raving about yesterday on Cars & Bids? The one I thought could be the bargain of the century? Well, turns out the seller had other ideas. The highest bid came in at $40k, but get this - the seller's response was basically "Yeah, no. Did you see that silver 456 with 50,000 miles and a salvage title that went for $67,500?" Talk about aiming high!
Looks like that deal's dead in the water unless the highest bidder suddenly finds an extra $27k in their couch cushions. But hey, stranger things have happened in this crazy market of ours.
YESTERDAY’S TOP 5 SALES
Want to dive deeper into any of these listings? Just click on the car to take you directly to the listing. Trust me, some of these are worth a closer look.
Why This 1966 Shelby Cobra 427 Mark III Didn’t Sell
This '66 Shelby Cobra 427 Mark III is a prime example of why the classic car market can be such a head-scratcher sometimes. On paper, this thing should be a slam dunk - we're talking about one of only 260 street-spec Mark IIIs ever made. That's rarer than hen's teeth, folks.
But here's where it gets tricky. This Cobra's been through some changes over the years. It's sporting a 427 side-oiler V8 instead of its original 428, and it's been dolled up with S/C-style mods. Now, for some buyers, that's like putting ketchup on a filet mignon - it might taste good, but purists are gonna turn their noses up.
The fact that the tach wasn't working in the driving video and wasn't mentioned? That's a red flag bigger than the one they wave at bull fights. In this market, transparency is key, and little oversights like that can make buyers nervous.
Now, don't get me wrong - $880,000 is serious cash. But for a genuine Shelby Cobra? That's practically pocket change. These babies have been known to fetch north of $2 million when they're just right.
My take? The modifications and the lack of full disclosure on minor issues probably spooked some of the big-money players.
In the end, I think we're looking at a case of a great car that just didn't find its audience this time around.
Could it sell after auction? I’ll be keeping my eyes on it and report back should it exchange hands.
Market Reality Check: The AMG GT Black Series' Post-COVID Price Correction
Let's talk about this 2021 Mercedes-AMG GT Black Series that just went RNM at $326,000. We need to put this in perspective.
Remember when this beast first hit the market? It was peak COVID madness. The world had gone topsy-turvy, and so had car prices. Everything was selling for crazy money, and this Black Series was no exception.
Fast forward to today, and we're seeing a return to something resembling normalcy. Shocker, I know - cars are actually depreciating again! But it seems some folks missed the memo.
Let's break it down: In 2022, these were going for an eye-watering $463k on average. Last year? Down to $375k. Now we're looking at $362k. That's not a crash, people - that's just the market sobering up after a wild party.
The thing is, we've got sellers who are still hungover from those COVID-era prices. They're looking at their Black Series and seeing dollar signs, forgetting that the world's changed. Meanwhile, buyers are waking up to the new reality.
Now, don't get me wrong. This is still an incredible machine. 720 horses under the hood, more carbon fiber than a spacecraft, and looks that'll make your neighbor's Porsche cry. But $326,000? That's a tough sell in today's market.
Here's the kicker: We're seeing a disconnect. Some models are still commanding crazy prices, which is probably fueling this confusion. But not every car is an air-cooled Porsche, folks.
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