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Thursday, November 6, 2014

COPARTS HUH? REAL DEMONS 340

I have mentioned COPARTS before and they are a large company that in some way hooked up with a bunch of auction yards around the country that usually sell salvage vehicles, municipal, fleet vehicles and insurance total loss vehicles. 
Sadly many classic vehicles damaged by Super Storm Sandy went into COPARTS yards, one big problem is they refuse to actually explain the damage clearly  
We will get to this 72 Demon 340 shortly which is on the auction block for the 4th time this morning as I am writing. FEES FEES FEES and more FEES. Hagerty has a great site that tracks sales of certain vehicles and if this car was a #1 which would be impossible since it has a salvage title and "front end damage" unknown to what extent the graph shows high sale price of just under $20,000 "A" bodies are just now climbing in value I guess until the flat line of the hobby hit. 
FEES= gate/loading fee, Internet fee, buyers fee, transaction fee,brokers fee because in many states unless you are a dealer you can not bid and then you have 5 business days counting the day of the auction to get it out or storage fees start so before you even pay for the car you have on the average $1000 to $1200 in fees  
Condition 2 as per Hagerty peaked at $14,700
Condition 3 as per Hagerty $10,100 
 
4 speed car, with a/c, documented, clear title no damage yes,but this thing I would say maybe $5000 and that is a dice roll , searches show the auction which has no reserve price has gone to highs of $7100, $8800 and $9300 with that each time COPARTS did not approve the final price and put it back on the block as it is this morning again. From my understanding of auctions, unless there is a reserve the high bid wins the item? This is pretty simple put a starting bid at a price in the range with a reserve? Otherwise you are wasting every ones time, correct?    
Yeah it looks pretty,but is it worth all the BS?
The car was obviously someplace in the middle of a restoration or slapped back together, some things missing under the hood like the "fender tag" which would confirm the car is truly a "petty" blue  original which does make it more valuable - only offered as a standard production option 2 years. 
78,000 miles, maybe, all original, maybe, salvage title, some kind of chassis damage? FEES FEES FEES I have not seen it in person and declined getting involved because COPARTS I guess did an Internet search and came up with a value of $31,350!! Cars and parts had a very similar 72 Demon reviewed values $21,000 to $40,900 with average price of $33,000 and there is only one problem although the cars looked the same it was a Mr. Norms GSS supercharged car! 
 Kind of the Holy Grail of Demons 

Our auction car kinda looks like a GSS huh? Let us be clear this is not a GSS!

I could not sit online watching today's auction and coparts super secret world has no way of seeing the high bid, but one search showed $17,000 was that the reserve price or that was today's high bid? If the car does not pop up on next weeks auction it means it sold so I am holding this blog as a draft?
It appears the car has sold finally and for some obnoxious reason coparts does not show the sale price, but a Vin search had a tab that day of $17,000
A quick Internet search found 7 340 72 Demons for sale under $20,000 without mysterious salvage titles and damage- A week after last weeks auction it appears yes the car was sold and not to me which I am still happy with that decision!
Be smart dog and very careful if you think you have found a bargain classic car, check all the fees and inspect the car in person- you have been warned!

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