71 N code cuda vert at Mecum

[70 Challenger Lover]

Aren't there more 340 cars than 383 cars? I would think that drives value in this case but I'd personally take a 340 any day.

[JH27N0B]

Thanks to Bill for adding that background info.
I thought all those dress up options contributed to that extreme selling price but they were added.
I was always sorry Greg Nelson added front and rear spoilers to my 71 Challenger but based on this cuda, maybe the added spoilers add 10-20G to the value. 

[anlauto]

Aren't there more 340 cars than 383 cars? I would think that drives value in this case but I'd personally take a 340 any day.

As with any 1971 Cuda, the 383 was the base engine and the 340 was optional, but yes, I think you're correct there were more 340 convertibles than 383's, but still, just like you and me, most people want the 340 version, making them more desirable in my opinion

[Mr Cuda]

1989 Wall Street Journal  front cover.
Otis Chandler's  71 440-6 convertible  sold for 100k.
People were amazed.  This started the flushing out of the rare cars by well heeled "collector " enthusiasts.
The little people sometimes took the money, with no hope of ever having one again.
I was a member of a mopar club in the 80's and saw 6 pac, hemi, and wing cars get snapped up.
  Honestly,  it ruined it for me and I retreated  from the car club, car show world.
Just driving around became a  freak show.
My goal is to finish my car and drive it.
So if the money is good, take it. But realize it's gone for good.

[anlauto]

It's a double edged sword, because if the cars never began increasing in value, then we would never have the aftermarket parts available that we do now...having been doing this myself for almost 40 years, I would have never imagined the parts that are available today, and cars that were cut up and stripped for parts, left for dead are now being dragged out of fields and being restored. That never would have happened if the value never started to rise....maybe we can thank that Wall Street Journal cover !

[Bill Rolik]

A few more photos.


This was actually a very solid car, unlike most that are out there. She told me it was her daily driver for most of its life, and then decided not to go ahead with any repairs and repaint or anything else at the time. The body side moldings basically just fell off. There were no modifications she had made while owning it. Bill Drake did restore the first convertible I sold him, which his son owns now (that one came from Georgia....another original owner car). But for some reason he decided to part ways with this one to Cliff within about a year or so.


This car, based on the auction photos available, still has detail issues I can plainly see, but is much closer to being correct than the one that sold at Barret Jackson recently. I studied those photos carefully, and even without actually seeing it in person, I easily picked out more than two dozen items. And of course that does count underneath. Details matter!


Bill Rolik

[anlauto]

Out of curiosity, what did you pay for it back in the 90's Bill ?

[Bill Rolik]

Don't remember exactly, but probably under 10K.


That was then, and this is now!  LOL!


Of course, my own car was a whopping 750.00 from Drake 5 years prior! But he kept the painted grille! LOL!


And speaking of my car, all is progressing nicely. We just finished dyno pulls on my engine on Thursday. No significant changes other than a special hydraulic roller camshaft and extrude hone of the intake. Original factory .020 pistons for a 4.060 bore. Original crank. Eagle rods. I will get a slightly more loose converter from Turbo Action. 3.91 gear.


As you can see, 407.2 HP at 5900 and 399.8 TORQUE (did not crack 400 LOL!) at 4400. Both of my Thermoquads were within 2 HP. STOUT!!!


Bill Rolik

[anlauto]

Your car will be fantastic when finished, love the colour combo not sure if you've heard or followed along on my website, but I've got two 71 Barracuda convertibles on the go right now....not exactly stock though...

Can you help me with the grill brackets I just posted about, or the LCA rebound bumper spacers I posted awhile back ?

[70 Challenger Lover]

So after seeing this astonishing auction, it had me wondering what the value of my base 318 convertible was. Since you almost never find them anymore, it's difficult to examine recent prices to determine values.

I started fishing around on Facebook groups and got absolutely bombarded with private messages so clearly these convertibles are desirable in any form. After speaking with two serious potential buyers who knew my very high asking price, I got an offer of $80,000. And the offer did not come from some nostalgic guy who wanted it simply because dad once had one. It was an offer from a very knowledgeable Mopar guy who currently owns a 70 340 Cuda ragtop and a 71 340 Cuda ragtop. The other gentleman is considering but since he knows my selling point is much higher than $80,000, he probably figures there's no point in making an offer. I suspect though that if I were willing to sell at 80k, he'd be in line too.

The point I am hoping to make is that we tend to undervalue most Mopars simply because they aren't the ultra rare versions we see on magazine covers. For those people who have 70 or 71 e body projects awaiting restoration, it is possible to restore them to original spec and still maintain very respectable values. They don't have to have four speeds, hemis or shakers to be desirable and valuable.

I can vouch that people do want them even in base form and it's worth considering that they might be even more desirable because far more people can afford an e body convertible like mine at 80k than they can the same car in a 340 version for $150k.

[anlauto]

Sad part is...most buyers, maybe not the two you speak of, but most buyers will cut your car apart make it into a clone of a Hemi car and sell it for $300K, or resto-mod it for the hope of a even bigger payday...

$80K is a decent deal for a rustfree builder these days, when rust buckets are getting $40K 

[70 Challenger Lover]

You're absolutely right that they would do that. Few people would keep it like it is. I purposefully stuck to my guns at $100k because I knew that figure would chase away anyone hoping to find profit in it.

If you recall Alan, I bought the car three years ago for $50,000. At the time, some folks said it was overpriced at 50k and some said it was fairly priced but no one said it was a good deal. Here we are exactly three years later and there are buyers willing to pay 80k. I didn't try all that hard to advertise it either. I'm sure a good eBay ad could get other buyers in that range. Maybe even a touch higher.

I couldn't make that kind of money in stocks unless I got really lucky. I think many of these cars are sure bet investments though. Safer than many stocks at least. I can drive this car around and as long as I take good care of it, it will continue to rise in value year after year. And in a bad market, like the one about to come, all I have to do is ride it out (Pun intended!).

[anlauto]

Right now we're in a very hot market, if you wanted to cash out, now would be the time....(you're right, it could crash anytime)...but 71 Cuda convertibles will always be HOT

I was all ready tossing the idea around of selling my "keeper" if the prices keep getting crazy...I could pay off some of our debt...

[70 Challenger Lover]

I've been thinking lately that everyone knows inflation is coming on strong and things are going to get pretty ugly. Even the Fed is saying this. With inflation comes a devaluation of all the cash you have sitting around unused. I think people who have large sums want to invest in something safe, like gold for instance or classic cars, hoping that during the next roaring economy, they come out ahead, or at least unharmed. That might explain why certain collectible cars have been so hot.

On a side note, I've heard financial experts say that it doesn't make sense to pay off your high fixed rate debt going into a period of heavy inflation because your debt, like your cash, will diminish with inflation. You'll still have it of course but I think the logic is wages eventually increase to deal with inflation whereas the debt stays the same and feels like less in comparison. Assuming you don't have adjustable rate interest loans in which case that could get painful.

[Mr Cuda]

If you have the means to keep it, keep it.  If you need  to sell, now is a good time.  If you want to make it a 340 Cuda it will not hurt the value. They made what?, ten more 340 than 383 cudas. But 340 is optional.
Now, if you have high interest debt,  pay it off.  If you have low interest debt, like a home loan at 3.25%, then inflation makes that hard to pay off, unless you have alot of cash earning  .8%.
The fear is with inflation, leading to recession/ depression is job loss. Then any debt becomes a problem.
I've been talking to investment advisers and their only play is stocks, stocks stocks.  It seems money has become worthless, unless of course you don't have any.