Last post on Mar 16, 2010 at 7:02 PM
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Lincoln Continental, Convertible
#62 of 66 Re: Lincoln convertible repair at your door [isellhondas]
Mar 07, 2010 (10:21 am)
Don't try to confuse me with reality . . . . . .
#63 of 66 The results are in!
Mar 13, 2010 (5:24 pm)
Today, this car hammered sold for $50,000 (not including buyer's premium) at RM's Amelia Island auction. Way more than I thought it would go for. I would've thought $35K was all the money. I know auctions tend to result in inflated sale prices, but this one has me stumped. Must've been nicer than I thought.
#64 of 66 Re: The results are in! [parm]
by Mr_Shiftright HOST
Mar 13, 2010 (6:02 pm)
When you have access to a large faucet where money pours out whenever you want, what does a $20,000 mistake matter? The point is "the law of large numbers". THAT Lincoln was worth $50,000 on that day, but if you monitored all the Lincoln converts of that type sold within the past year----well, the law of large numbers tells us that we are probably correct in our value assessment.
The $50K selling price is no more indicative of the "market" than this selling price:
and why is the $50K car any better than this beauty at $35K asking?
Obviously somebody back East may have more dollars than sense.
So there's really nothing to puzzle over. If you flip a coin only ten times, you might get 7 heads and 3 tails, but that doesn't mean that those are the real probabilities. The real probabilities come out when you flip the coin 500 times perhaps, or 1000 is even better. (Somebody actually did that and heads came out 50.1% of the time).
#65 of 66 Re: The results are in! [parm]
Mar 16, 2010 (6:22 pm)
Auctions are so unpredictable.
Ego has a lot to do with the sales results. If you get a couple of boozed up condenders on the same car, a lot of it is just stubborness and the desire to emerge the winner.
A great thing for the person selling the car!
Of course, now everyone with a 1962 Lincoln Convertable " knows" what they are "going for".
#66 of 66 Re: The results are in! [isellhondas]
by Mr_Shiftright HOST
Mar 16, 2010 (7:02 pm)
Yeah sure...put that same car up for sale on the Internet tomorrow, or on eBay, and see what you get for it.