Barrett Jackson Auction’s Salute to Boyd Coddington?

I expect a hot rod driver or builder to know who Boyd Coddington was. Like him or not, there’s no denying his influence on style and the budget of custom cars, especially the one-off rides built for his TV show, “American Hot Rod”. His death almost 1 year ago shocked the custom car world.

It looked like there were alot more hot rods and cars that I’ll call “regular” at the 2009 Barrett Jackson Auction in Scottsdale, Arizona this year. What the heck is regular? Well, I just mean they’re somewhat obtainable by more then just wealthy collectors out there. I guy with a dream who’s been saving for a while might have a shot. With the “dreamers” and the collectors all gathered at Barrett Jackson, how many knew who Boyd Coddington? Quite a few!

Case in point are 2 hot rods sold on Saturday at Barret Jackson. The first is this neo-classic styled: chopped, red and flamed but with billet (of course Boyd’s) wheels, 1932 Ford 3 window coupe. A great looking, no-expense-spared car, no doubt, but was it worth the $200k it sold for? (without commissions) Who knows the actual build cost, but that could be said for many cars on the block. From what I heard the auctioneers saying, many cars were being sold for the cost of the “frame off rotisserie” restoration. Not this car, I think it sold for a premium because it was a Boyd car. It’s tough to hear in the video below, but the cheers from the crowd as the price kept rising support that theory. What do you think? (after a short word from their sponsor…)

Also supporting my Boyd buy theory is this Chip and Sam Foose built 29 Ford Sedan. This steel car will be the topic of another blog. I got a chance to chat with the new owner and he was tickled to have such at great car for $50k (without commissions) With 15″ Boyd wheels, this low slung sedan is in fantastic condition and anything with Chip Foose’s name on it, I think, also should fetch a premium. Did it? I think in a few years, it’ll take alot more money to own a car built by Foose. More on this cool 80′s time machine in a future blog.

Finally, I’ll throw out another 32 Ford 3 Window coupe for you to ponder. This is a different, much more nostalgic looking 32, but for years, any steel 32 was fetching big, BIG dollars, weren’t they? This car sold for $58k. Is that right? This car was CHERRY! I checked, it’s a steel car and features a somewhat ordinary 350/350 combo, but with the simple but stylish interior, artillery steelies and whitewalls, this is my style.

So did the Boyd name bump up the price at auction or was it a simple case of 2 guys really wanting the same car?

Creative Workshop Sport Speciale – No Sale!

Submitted by Jason Wenig from The Creative Workshop, a restoration and full service coach builder out in Florida.

An interesting turn of events transpired this past weekend.

As you are probably aware, last week was the “big auction week” out in Scottsdale, AZ (culminating on Saturday night), where all of the major car auction companies display and sell a dizzying array of vehicles. On top of the grandeur of these events, in many ways, it can be said that this past week sets the tone for values and trends for the coming year.

As a car builder, I walk a thin line. I personally am not a big fan of the auctions – I don’t sell cars – I build them, but it is hard not to at least be interested, and in many instances, it is important for me to understand where people’s money is going – what types of cars, what eras, etc are being sold… if not just for business, then certainly for my own love of cars!

Which brings me to my story: My Client, (Arizona’s own, car collector) Barry Smith, decided to get the Sport Speciale involved in this fray – consigning the car with Drew Alcazar of Russo & Steele (Drew is a personal friend of Barry’s). Now, as I said, I am not a vested fan of the auctions, and I was certainly not involved in this consignment, but Barry, being a shrewd businessman, wanted to see what the market for and value of his beloved car was. So he put the car up, set a very high reserve, and let the fates take a turn.

For me, I was admittedly a bit nervous – having a car that was completely designed and built in-house – being presented against venerable classics, and in a weak and teetering economy. As an artist, one can get tense when presenting their work in an open “shark like” forum such as this… as a business man, having a value placed on your product under these circumstances – can, well, be quite unnerving!!

Well, after the dust settled on Saturday night’s bidding (the Speciale was THE car of the event – it went off prime time on Saturday night), the car did not sell – Barry turned down a high bid of $630,000 (to the buyer, approximately $700K with premiums, etc)! To put this in perspective, the highest price paid for any car at R&S was $600K for a Mercedes Benz 300SL Gullwing! Needless to say, I am as much humbled as I am honored by this.

After the shock of this has settled a bit, I spent some time thinking about it all:

• Although all of the “number crunching” is not done yet, it seems the collector car market in general is showing softness (along with the rest of the economy) – down perhaps as much as 30%.
• Our car was bid up to $630,000. One of the highest priced cars of the weekend (of ANY of the auction houses!!). Barry, smartly, did not sell the car at this price – correctly reading the market – that the car is probably worth considerably more. Our car out priced Ferraris, Mercedes, prototype American cars, grand classics and even charity “celebrity” auction cars!!
• If someone was prepared to spend $700K in a market that is potentially 20% – 30% deflated, it could be theorized that our car, in a normal or strong market, could approach the $1MM mark. Indeed, I found out who the high bidder was, and he is known for owning and selling his cars for a profit. He too saw the potential of buying this car at an “undervalued” $700K price!!
• Our car was finished one year ago – and hit the road at the beginning of the recession we are now fully in. The car cost approximately $600K to build. During this period of time, the overall market declined – yet our car not only held its value, but it increased in value.
• The car, overnight, has become a liquid asset…meaning: Hard assets become illiquid if their values suffer during market fluctuations (go lower than acquisition cost) or have no buyers (especially in a bad market – and you need to sell). Well, our car was presented in a very unfavorable arena (car values down, economy down, etc), and not only attracted many potential purchasers, but attracted purchasers that were willing to buy the car at a premium to what it cost to build.

What all of this means to me: Creativity, automotive art, uniqueness – are all alive and well. Quality and soul are still rewarded. Our Creative Workshop brand continues to establish itself – even under unfavorable conditions.

I am proud of the work we did and continue to do and I am humbled that a great deal of blood, sweat and tears has been rewarded – in a medium that for better or worse, is an easier language for most to understand – monetary value.

Thanks for being a part of this.

JW
Jason Wenig
The Creative Workshop
www.TheCreativeWorkshop.com

Twin Huffers on a sick Model T

Ron Ginn from Albuquerque, New Mexico ain’t playin’ when it comes to building ridiculous horsepower Model T’s. I asked Ron, “Why two blowers?” and he kindly expanded on the theorem: “Injection is nice… but blown once is twice as nice!” I take that to mean, why the hell not?

Like so many folks at the 2008 Goodguys Southwest Nationals in Scottsdale, AZ, you’re gawking at 572 cubic inches of Chevy power in this highly detailed Model T. I won’t call it a “Ford” because from looking at Ron’s garage here at MyRideisMe.com, I think Ron’s more of a Chevy guy. Twin Blown

Stepping back, the ride Ron calls, “Nas T Too” was a 4 year build with everything but the paint and interior done by Ron in his home shop. That includes milling or turning several custom pieces on the car. Ron said that “dipping” into the hot rod fund to buy a mill and lathe was essential. He made alot of chips (scrap!) before he made any parts, but you might have guessed that there aren’t many off-the-shelf pieces available for twin blown big blocks! Looking closely, there are alot of custom-made, one-off pieces.

Ron’s an engine builder by hobby which is why he likes to go over the top with the engine. What’s “Over the top” mean? How about 1348 HP at 5800 rpm with 985 ft-lbs of torque. Ron was quick to explain that there was a little more in it but the tires started slipping on the dyno rollers. (Big deal Ron, that happens to me in my T too… NOT!) There’s a total of 12 lbs of boost from both blowers, so they’re seriously under driven.

Any time you’ve got over 1000 ponies in a car that only weighs 1885 pounds, you’re in for a wild ride! Hanging out with Ron for only a few minutes, we heard the common question, “How fast is it?” To which Ron politely answered, “I don’t know!” I think Ron’s years have given him the wisdom to give respect where it’s due. That’s alot of power! Consider that the 425 hp in the SRT8 Challenger represents a HP to weight ratio of 9.8 lbs/HP. Ron’s at 1.4 lbs/HP!! I could see that Ron’s not afraid to lite’m up here and there, but a wide open run on a back road didn’t seem to interest him much.

Ron does like his entrance. The stares and sideways glances of folks wondering, “What is that!?” really get Ron going. It’s good that people know that yea, it does run, and it sounds wicked. Lopey. That’s a word now, add it to your vocabulary. Blower surge could maybe be tuned out of this thing a bit, but I’d vote against it. In fact, It’s beautiful. This video gives you a taste of what it’s like, but doesn’t show how at each surge, the T’s looking to break those huge rear tires loose. Awesome.

In the days, or 4 bucks a gallon, I’m sure Ron heard it more, but he said he always gets the, “What kind of mileage do you get?” I think I’d be more likely to ask, “Do you change your shorts after every ride?” His show card says, it all when it says simply, “MPG: Not real good”. Yep. To be more specific, he gets about 35-40 miles from his 15 gallon tank or about 2.3 miles per gallon.

After my 30 second video, Ron’s hand was out. “That’ll be seven dollars.”

2008 Goodguys Scottsdale – Photo Upload

The first of many, MANY photos from the 2008 Goodguys Southwest Nationals held in Scottsdale, Arizona just went up. (You can find all the events we’ve shot here: Hot Rod and Custom car Pictures)

…it’s just like being there, but without all of that pesky good weather, fine folks and healthy walking around stuff. Come to think of it, all of that sounds pretty good, huh? That’s the whole point of MyRideIsMe.com: Interacting with other members, making new friends, and just enjoying cars! If you missed this one, we invite you to check out our shots, as well as our member’s photos, too… and if you snapped some that we missed, feel free to join in and post them as well! Have some thoughts or a story from the weekend that you’d like to share? Send it our way, and we’ll make you famous!”

This blog will be updated as I load new pictures, so check back here over the next couple of weeks.
Updated:
11/19/2008
11/23/2008

Goodguys Rod and Custom shows have a mix of cars. While I was there, I thought there were mostly hot rods, but looking over my photos, I shot alot of muscle cars, and G-touring type cars too. I’m calling all those cars, Street Machines. I held a brief but meaningful internal debate about that and finally decided that if there’s some opposition to that naming convention, then you’re welcome to make your own website! Ha ha!! What would you call’m?

The 4th Gallery of customs pics is up! Swanee, you’ve got to have some to add to this one! Once again, here’s the direct link: Goodguys Scottsdale Pictures – Hot Trucks

The 3rd Gallery of hot truck photos is up! Click on the link here: Goodguys Scottsdale Pictures – Hot Trucks

The 2nd Gallery of hot rod photos is up! Click on the link or wander over to the Car show picture gallery Here’s that link and my favorite picture: Goodguys Scottsdale Pictures – Hot Rods

Here’s a link to the 1st gallery and one of my favorite pictures. Goodguys Scottsdale Pictures – Street Machines (Click on the pic to make it larger)

Next to come: (almost done!)

Pro’s Details Photos (shots of some of the super trick ideas from big time builders)

MyRideisMe.com Favorite Photos

What else should I do?

OH! Then there’ll be a bunch of photos from Swanee. I’m sure he’ll make my shot’s look crappy, like usual… Look for his logo on the prints and get in touch with him through his MyRideisMe.com Garage here: Custom car pics

While you’re here, stop saying, “Hey, that’s a good idea for a website!” and join already!

2008 Goodguys Scottsdale – Just a teaser…

If you’re a Cali hot rodder or maybe even a Texan heavy into nose up A/FX drag cars, then you probably missed the 2008 Goodguys Southwest Nationals in Scottsdale, AZ. Don’t worry, I’ve got you covered! The dedicated staff of MyRideisMe.com (Paul Swansen, Erick Anderson and myself) took over 1000 pictures. This is just a taste of the photos and stories coming out soon at MyRideisMe.com. Please check back for updates!

Click this link: The Gasser Chevy II Story is Done!

While you’re here, take a second to join. I’ll shoot over a notice when the new stories and photos are ready.

(click on any of these pics to see them full size. It’s Vivazoom!)

Story about this Crazy!! T-bucket now posted: Twin Huffer T-bucket

Interested? Which story should I do first? So tell a friend and check back. We’ll try to put these stories up asap. Thanks!

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