Filed under: Coupes, Auction Action
VIDEO: First Foose Coupe customer car sells for $300,000
Well, we've been covering the story of Chip Foose's Foose Coupe since before SEMA, and it all finally culminated over the weekend at Barrett-Jackson Palm Beach, where the first customer car brought $300,000 when the gavel fell. That would ultimately be the top sale recorded over the weekend. The winning bidder gets to work directly with Foose to pick out the color schemes, wheel design, and in this particular case, even the motor -- either a Ford GT unit or the 392 HEMI crate engine as seen in the green prototype. Only 50 cars will be built, and the top bidder actually scored a little bit of a deal. You see, each Foose Coupe has a base price of $295,000 anyway, so the extra one-on-one personalization experience with Chip only added an additional $5,000 to the price for the first-ever customer car. Expectations were surely higher, so even though this was the top seller, dollarwise, the number it brought must have been a disappointment. You can watch the auction itself after the jump.
[Source: SPEED TV]
Reader Comments (Page 1 of 1)
C.Y. 11:58AM (4/02/2007)
Doesn't seem so unreasonable when you factor in the Barrett Jackson tax (10% "buyer's premium")
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olddavid 12:12PM (4/02/2007)
Obviously, the bloom is off the rose that is the BJ auction bubble. These guys were very prescient at mining the Boomer memory money, but let's face it- $100,000 for clone muscle cars? Unrestrained capitalism is a remarkable thing. Eventually, when emotion is eliminated, fiscal responsibility sets in, and the true values are established. Now, maybe even stiffs like me will be able to get back into the game.
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Shawn 1:01PM (4/02/2007)
There are 2 types of collectors: those who collect to profit eventually, and those who collect to enjoy.
"Fiscal responsibility" is for the first group because they are looking to profit. You may not understand why someone would spend money to collect toys, stamps, books, women or homes, but it has nothing to do with being fiscally responsible.
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Mr. Oak 1:53PM (4/02/2007)
I frequently watch the show. I hate it when I find out that a given bidder is a dealer looking to flip the car to make a buck. For me, certain cars are worth what the fetch and some of them hell no.
I admire the folks who has the means to do this as a hobby. If you find a car that you've always wanted since childhood and finally do have the means to get it. I say go for it.
For anyone under the age of 25, I don't expect you to understand, or don't care if you do. It ain't your money. Oh, one other thing, you may want to educate yourselves about the Muscle Car era cars, because very few cars made in the last 25 years are ever going to be worth collecting, unless someone rich and famous owned it.
The Muscle cars will reign for a long time, because the appliances made today will never replace them.
Here is my short list of modern Collectibles:
First Gen RX-7,
Last Gen RX-7
Buick Regal GN-X, GN and other T-Types.
Current Gen Z0-6
The original Vipers
BMW Z8
BMW 635 CSi, L6, M6.
Ferrari Enzo
The Audi-90s (best design to ever come from Audi).
The Original Quattro.
Mercedes McLaren.
McLaren F1 BMW powered.
The Last Gen Supra could have made this list, but the tuner boys has violated every last one of then.
Just about everything else made in this era, are all just appliances.
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thisislame 2:11PM (4/02/2007)
what a joke, suckers.
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Shawn 2:27PM (4/02/2007)
Well, you had a few no-brainers on your list. Enzo, pair of McLarens, yes, but they are already priced sky high, so I don't think it go much higher. At least not compared to a $9K car in 1960 bringing in $250K type of return.
I do not think your list of BMWs (minus Z8) or Audis will be that collectible. They are great cars, but I don't know too many people that has an emotional attachment to them the way American muscle cars connected. (After all, collectible doesn't mean it is the best car of that period).
I think you missed Aston Martin. For modern non-supercar catagory, the collectible in the future (I think) will be designer cars. That is cars customized by a particular design studio or designers. Very few factory modern cars have the good kind of desinctiveness that make it stand out.
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Mike 3:13PM (4/02/2007)
Bugatti EB110 & Veyron
Jag XJ220
GT1 class homologation cars, mercedes-GT1 Nissan R390, Toyota GT-One, Porsche GT1, etc.
Small shops like Panoz, Saleen, Mosler, etc
Coachbuilders like Fisker, et al
You will see very few modern vehicles return prices similar to what you are seeing with the musclecars. Camaro SS and WSC Firebirds, Subi STi's and Evo MR's, and only a select few others really fit the bill, and those on the list will be incredibly hard to find unmolested 25 years down the road.
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mr.ed 9:00PM (4/02/2007)
A long way from street legal. No bumpers or fenders, or proper lighting for instance. So who needs it? Until it's at least 25 years old, it can't even be in a parade.
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jerry 9:11PM (4/02/2007)
The selling price on "The FooseCoupe" fell short of the expectation of many. I think that "feeling" happened more then people are talking about. How many times did we hear the announer mention what kind of a "deal" was made, or about the comparison of prices at previous auctions. I would love to hear feedback on some of the consigners who sold cars at no reserve, expected more, and were left with "that" look on their face! Am I the only one that saw that?
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