There's Hope After All - A Real $25K Spider

[Exit98]

Just got the latest issue of Sports Car Market with the report of all the January Arizona auctions. At Russo & Steele a 1978 Spider sold for $25,300 (including the buyer's 10% premium).

Here's their description of the car:
"Maroon, black vinyl top, tan vinyl interior. 89,000 miles. Fully restored to a very high standard. Deep maroon paint shows nearly flawless. Chrome peeling from driver's taillight housing. Panel fit is nice, and doors close easily. Rubber on the RlaphNader-ized bumpers is perfect. Interior well done. All gauges intact, and only clock shows slight haziness to the lens. Pedals show wear consistent with mileage, and new seat covers show only slight use on piping. Engine bay showroom fresh and nicely detailed with yellow cam belt cover and cooling fan unstained. Condition rating 1-."

Here are the reporter's comments:
"Hard to fault this car and the restoration job. Could be almost over-restored, as Fiats didn't instill this much confidence when they sat on the original showroom floor. Finding rust-free examples is difficult these days, and restoring one to such a standard is cost-prohibitive.Double the top money bid here, but a very nice car and hard to reproduce for the money. If you had to have one, this was the one. Well bought and sold."

No offense intended, but let's be honest, these middle year Spiders aren't the most desirable (mine's a 76) with all the emissions crap and stuff, along with the big bumpers and the carbs. So imagine what a comparably restored early Spider or a very late FI one could go for.

[toyfiats]

http://www.russoandsteele.com/past-coll ... yder/12101

Seller hit the jackpot for sure. An early or late Spider, maybe. This one, as nice as it might be, doesn't look like anything spectacular. Personally I'd like to see top-flight Spiders command these types of prices, but this is defintely not a repeatable result.

[maytag]

that buyer overpaid by about $15k.
when do you think he found out?

[124JOE]

right after they join us

[garhett]

right after they join us

HAHAHAHA!

[CajunMike]

Someone should try to contact the losing bidder. Might be a sale opportunity there.

[ga.spyder]

He probably realized his folly,about the time he tried to park it at his beachfront home in Kansas.

[RRoller123]

The fogged up clock cracks me up.

[4uall]

Ignorance & money are quickly seperated

who wants a 1980 FI Spider with 96K and no photos? A steal at 19,999.99

[124ADDHE]

Its funny and sad, in no other car forum do they shit all over their own cars, every time a new one sets the mark, people here are all over how much a person overpayed - this isnt the 90's anymore, these cars are rusting out and very few are available (1990's -5-8 fiat spiders for sale in buysell.com, currently there are 3 and that is the most ive seen in some time). As you all would agree, these cars far exceed their british and sometimes german counterparts in performance and style, this is what todays buyer is seeing and they dont necessarily have a recolection of FIATs other offerings when they were in NA last, resulting in people shelling out a dollar value for what they perceive to be a FAIR price.

I think its a good thing that the spiders are obtaining higher prices, they were always the superior car. Have some bloody pride!

[maytag]

Its funny and sad, in no other car forum do they shit all over their own cars, every time a new one sets the mark, people here are all over how much a person overpayed - this isnt the 90's anymore, these cars are rusting out and very few are available (1990's -5-8 fiat spiders for sale in buysell.com, currently there are 3 and that is the most ive seen in some time). As you all would agree, these cars far exceed their british and sometimes german counterparts in performance and style, this is what todays buyer is seeing and they dont necessarily have a recolection of FIATs other offerings when they were in NA last, resulting in people shelling out a dollar value for what they perceive to be a FAIR price.

I think its a good thing that the spiders are obtaining higher prices, they were always the superior car. Have some bloody pride!

I don't see any of this as "shit(ing)" on my car.

For many (most?) of us, one of the attractive parts to Fiat Spider ownership is the relatively low cost of admission. for me, personally, I'd rather see the values stay low. If they become as expensive to own and repair as other "similar" cars, then I'm out. I've already got a waaaay-too-expensive-to-own F-car..... I don't need another.

And to be really, really fair: we weren't "shit(ing)" on the car so much as on the guy who overpaid by twice. Anybody who buys without doing his homework deserves what he gets. And EVERY CAR FORUM I'VE EVER BEEN PART OF would poke fun at someone who did that.

[4uall]

I think that both Keith & Maytag are correct. Some feel that if they buy a car for $5000 & then add a $4000 paintjob the car is worth $9000 while others with see less or more value. All in all these cars (like all others) will only be worth what someone else is willing to pay

[81SPIDERMATT]

.

For many (most?) of us, one of the attractive parts to Fiat Spider ownership is the relatively low cost of admission. for me, personally, I'd rather see the values stay low. If they become as expensive to own and repair as other "similar" cars, then I'm out. I've already got a waaaay-too-expensive-to-own F-car..... I don't need another.

And to be really, really fair: we weren't "shit(ing)" on the car so much as on the guy who overpaid by twice. Anybody who buys without doing his homework deserves what he gets. And EVERY CAR FORUM I'VE EVER BEEN PART OF would poke fun at someone who did that.

agreed.... my other car is a 76 international scout.... cheap to start out and a labor of love.... and giggle when i see them go for high prices

[RRoller123]

I am pretty glad that they don't cost an arm and a leg, and that is why I was able to buy one! That being said, I have still poured thousands into my rust free, excellent condition '80. {:^) It adds up quick, but it won't come back at sale time. Not a problem.

Pete

[maytag]

agreed.... my other car is a 76 international scout.... cheap to start out and a labor of love.... and giggle when i see them go for high prices

Hey! I spent a LOT of years toolin' around the back hills of Utah in a couple of indestructible Scout II's !!

I think that makes us brothers!

that 345 is one of the beefiest motors I've ever built. Punched a rod through the side of one once and still drove it 50 miles to the nearest town!

But you're right on the money: being uncommon or even "rare" doesn't automatically make it "valuable". Compare the Scout to the Broncos of the same vintage, or Toyotas.

Y'all who want an expensive Italian marque that holds its' value have come to the wrong car..... IMHO. Yes, I've noticed a little spike in sale-prices with the brand-recognition coming-up. But for the most part, people ask me all the time: is that a Midget? or an MG? or a Porsche? Or a Triumph?
When I tell them it's a FIAT, they get big eyes and say "a FIAT!?!?!?" like they've either never heard the name before, or thought they only made Jeeps. And then they quickly lose interest, because it;s not one of the "desirable" cars they've heard of.

I like it like that.