Help me understand the Formal market. Please!

[commando1]

What???

As much as I keep my ear as close to the ground as humanly possible, over all these years I cannot grasp WTF is going on with these cars.

 

[bluefury361]

What???

As much as I keep my ear as close to the ground as humanly possible, over all these years I cannot grasp WTF is going on with these cars.

View attachment 91760

I think they are for sale.

 

[twostick]

Asking and getting are two very different things.

Kevin

 

[1978 NYB]

Look at who is selling the ones that are insanely overpriced.

Lot lizards! They will never sell for those prices....ever!

 

[commando1]

Look at who is selling the ones that are insanely overpriced.

Lot lizards! They will never sell for those prices....ever!

Yes! Agreed! BUT..... why the huge effen gap between them and us.

I think they are for sale.

 

[1978 NYB]

Yes! Agreed! BUT..... why the huge effen gap between them and us.

They must think the un-informed may buy them...

They'll sit on the lot for a number of years and start to deteriorate and then they'll reduce the price drastically to get rid of them. Or they'll become drive train donors...

 

[67Monaco]

I think they use them as bait for their other cars that are overpriced. "Yeah for just a few more thousand more you can have this clapped out chevelle. And there's millions of buyers for Chevelles." You know like the just average girl that hangs out with the fat chick at the bar so she'll seem more attractive. That's my theory anyway.



BTW does the white one have scoops?

 

[mr. fix it]

I couldn't hardly get a bite on the 73 Newport I bought but the moment I advertised it for parts donor the phone rang off the hook!

There are a bunch here in Ontario that are going for very good prices most in great condition for less than $4000cdn

 

[GJS]

I don't understand the formal market at all as I simply don't find too many models all that appealing. However, I'd imagine it's just like slab and fuselage era cars back in the 12-15 years ago. In early 2000 you could nab a solid C slab for 2-3 grand, a fuselage for about the same... Back then I don't remember too many formals even making it out of the garage. Now, as the older styles become more scarce, the formals are going up... Or I should say, some people are pushing them up... Trying to get ahead of some imaginary curve..

Kinda just gross but that's how it goes

 

[Snotty]

The thing for me is, why should we question such high prices for these beautiful cars where if they were another car, say an E Body, we would be wondering why the pricing is so low? A '75 GM Convertible, any make, averages 17 grand in the asking prices. Why should these beautiful Mopars get any less?

 

[commando1]

The thing for me is, why should we question such high prices for these beautiful cars where if they were another car, say an E Body, we would be wondering why the pricing is so low? A '75 GM Convertible, any make, averages 17 grand in the asking prices. Why should these beautiful Mopars get any less?

I'm only trying to find out whether "the gap" is true or false.

Let's do it this way.
What is the highest price you have heard of anybody paying for a formal. The highest...

Seriously, the absolute highest I can verify was ~$5.4 k.

 

[rexus31]

I'm only trying to find out whether "the gap" is true or false.

Stan, if it's on the internet, it must be true!

 

[bluefury361]

What???

As much as I keep my ear as close to the ground as humanly possible, over all these years I cannot grasp WTF is going on with these cars.

For one thing, NADA is a USED car value guide and not reliable for gageing collector car value.
A more reliable and realistic value guide........

1978 CHRYSLER NEW YORKER Value

1978 CHRYSLER NEW YORKER 440-195hp (8cyl-4V) AT


MOBILE
#5 #4 #3 #2 #1
Brougham 2dr Hardtop 800 2100 5050 8750 13600
Brougham 4dr Hardtop 625 1775 4550 7250 10825

Add:
400-190hp (8cyl-4V) NC%
Sunroof-pwr 10%
Salon pkg 5%
Deduct:
No

 

[cantflip]

I'm only trying to find out whether "the gap" is true or false.

Let's do it this way.
What is the highest price you have heard of anybody paying for a formal. The highest...

Seriously, the absolute highest I can verify was ~$5.4 k.

The Gessweins, Lashs and other used car odd balls are succeeding in convincing someone often enough to still try... I suppose they mark up based on expected storage and marketing efforts.

I am inclined to believe that if there is a real buyer out there at the top end, they are too ashamed to admit it or too dumb to find their way here.

I have a question as well, how would we respond to the next owner of the Lash/Gesswein car if purchased at advertised price? I think we would be kind, but I could see the intimidation they may feel.

For WIW, the nicer ones I saw last year for over $5k seem to be around again this year... most at the same price as last year.

Side note... have you noticed the Sarasota NYB seems to have given up?

 

[monaco75]

Its not Formal specific, just an observation with pretty much all mopars I've glanced at online.

Look at where the cars are located. The higher priced ones are down south. The mid level are out west. The cheaper ones are up north..

Even if the car was kept away from the salty winters, and in beautiful shape, the cars up north are still cheaper.

The cars down here in FL that are clapped out garbage, still have owners asking the same price as a really nice clean northern car.

Jeff has it right though. Atleast for around here. The same few people with formals asking ridiculous prices have had the cars posted for years. And keep on going with them...

 

[commando1]

I have a question as well, how would we respond to the next owner of the Lash/Gesswein car if purchased at advertised price? I think we would be kind, but I could see the intimidation they may feel.

It's happened a few times. For the most part they were greeted with praises and laurels about their "gorgeous" cars.



I'm going to drive up to Lakeland for an appraisal....

 

[1978 NYB]

Until you start seeing Formal's selling for ridiculous prices at B-J and Mecum.....those asking prices will remain a pipe dream. Not saying that they could some day....but I doubt it.

 

[tallhair]

I'm only trying to find out whether "the gap" is true or false.

Let's do it this way.
What is the highest price you have heard of anybody paying for a formal. The highest...

Seriously, the absolute highest I can verify was ~$5.4 k.

It's been beaten into my head for the past several years they are worth $2,500 max no matter condition because that's all they are worth and some people have always bought them for that

 

[1978 NYB]

Nice rust free, low mileage Formal's have been selling for 5 something lately.

 

[commando1]

It's been beaten into my head for the past several years they are worth $2,500 max no matter condition because that's all they are worth and some people have always bought them for that

I've said that and and I still say if anybody had to have cash in hand by the end of the week, 35-hundred would be a pure miracle for even the best Formal.