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View Full Version : Barret Jackson -- 98 Indy 500 $100k!!



Mr Cowl Hood
03-21-04, 11:04 PM
Anyone else see that 98, Indy 500 Pace Car fetch $100,000!!!???

That was one clean pace car for sure! I was very impressed by how it's value climbed so well. Is the owner on this forum by chance?:cool

yellow_2002_germany
03-22-04, 02:27 AM
Do you have a link to the sale information?

Bishop
03-22-04, 06:44 AM
deleted
If you paid that much for a car would you actually take it out and litteraly drive the value out of it?

Most cars do not appreciate in value. Even if you trailor the car off the lot as soon as it is off the lot it looses it's value in most cases, so why would you drive a vette you just paid 100k who's value is on the rice? It would be smarter to go buy a brand new fully optioned Z06 before devaluing that 98.

As far as the fat comment, don't be so sure, I weigh in at over 400 pounds and my 99 is my daily driver, and it is a 6 speed I am faily comfortable even when I drove it 400 miles from Georgia to Mississippi in just over 5 and 1/2hrs with one 15 minute stop to get a drink and a bite to eat from a gas station.

I absolutly detest people who form opinions about others based on race, sex or in this case weight.

yellow_2002_germany
03-22-04, 07:08 AM
I found the auction. The reason that it went for that much is because it was a track use car with documentation. Only 3 cars get made up for track use. One goes to the winner of the race, one goes to the track and it looks like, in this instance, one went back to GM.

Just like any vette, documentation increases the value. Would you buy a '67 L-88 just on someone's say-so that it was the real McCoy? Several years down the road this car may be worth about the same or more depending on the market at the time. My guess is that the buyer is going to put it into a collection and it will not be driven much if at all.

Mart
03-22-04, 08:12 AM
Hey Vette-less this is the second time I have seen you post the same text, what's your issue, you young and about lose your hair and gain 50lb's....

Ease up, and make some useful contributions in here instead of slagging some peaple, oh yeah and some of those guys you mention are probably some of the most knowledgable about vette's, and you may need thier advice one day....

And aside from that your makin Toronto look bad man.

Mart

Mr Cowl Hood
03-22-04, 08:28 AM
I found the auction. The reason that it went for that much is because it was a track use car with documentation. Only 3 cars get made up for track use. One goes to the winner of the race, one goes to the track and it looks like, in this instance, one went back to GM.

Just like any vette, documentation increases the value. Would you buy a '67 L-88 just on someone's say-so that it was the real McCoy? Several years down the road this car may be worth about the same or more depending on the market at the time. My guess is that the buyer is going to put it into a collection and it will not be driven much if at all.

I didn't have the link, I just saw it on TV last weekend. I am glad you researched it and passed on the info. Now, is that true? There are only three truly, Pace Car editions? How is it that I see a lot of them running around on the street. In fact there's a local one that is SC'd and the owner shows it locally.

Are there an official group of them and then GM spits them out as replica's?? I am very curious. Oh, and by the way I didn't start this thread to fuel what's his name to bash vette owners. Someone needs a hobby, I guess.:eyerole

c5vetter
03-22-04, 08:41 AM
Y2K was STRESSING that ONLY three PACE CARS are "specially equipped for the Indy 500" - this is a TRUE statement. The one that was auctioned by BJ, was one of those three.

The one that you have seen running around on the street was one of the cars GM "cloned" if you will as PACE CARS, but they DO NOT have the TOTAL "INDY 500" package on them. Mainly, they have the STICKER package, color, etc.

Roadster Fan
03-22-04, 09:45 AM
I watched the Barrett Jackson auction too. As stated, it was 1 of 3 cars prepped for actual Indy 500 pace car use. They also stated who drove it during the pace car portion of the race....I want to say Parnelli Jones, but between watching Sebring and the auction, I wouldn't want to bet on it.

The car was from a GM collection of surplus cars that GM didn't have room for in a new museum. The car had the amber light board, but they didn't say if any engine/suspension mods were part of the real pace car set-up.

Hey Vett-Less.....maybe if you put as much effort into earning some $ as you do complaining about others who have, you'd be able to change your Forum name :eyerole

Brett

Billf6531
03-22-04, 09:52 AM
deleted.So what exactly do you object to? Their physical condition, the fact that they can afford them, or their investment knowledge? You're in sales, according to your profile. If you display this attitude to your potential customers, I can't imagine that you're having great success. Is that why you're vette-less? Or perhaps you're in a McSales position at your nearby fast food operation. In any event, please remove your location from your profile. You're embarrassing this Canadian.

yellow_2002_germany
03-22-04, 09:57 AM
c5vetter is right. Three cars are made into track use cars no matter what car is actually used. The manufacturer can then decide to make or not make any pace car replicas. When the Oldsmobile Aurora was used in 1997 Olds made only a half attempt at a replica for the masses. The decal package was not at all what the track use cars looked like and the paint was different as well. In 1996 when the Dodge Viper Coupe was used I don't believe Dodge made any replicas for the masses.

When the 2003 Corvette paced the 2002 race Chevy didn't make ANY replicas for the masses. However, an after market maker has made a decal package for the 50th anny cars that can be installed. However, no official replicas came from Chevy. At the other end of the spectrum, in '86 the track use car was a yellow vette convertible. Chevy only made 300 yellow verts from the factory but designated ALL '86 vette convertibles as pace car replicas no matter the color and included a decal package to be dealer or buyer installed.

The special equipment that is added to any track use pace car at least includes a roll bar, 5-point seat belts, strobe lights, a communication system and onboard fire extinguisher system. These items are required for track safety. Other performance items that were added to the '98 I believe included a power steering fluid cooler, a heavy duty tranny and a free flow exhaust.

B17Crew
03-22-04, 12:32 PM
deleted.
Iím all for speaking ones mind... but, who peed in your Corn Flakes?

B17Crew :(

Erik S. Klein
03-22-04, 01:41 PM
deleted
deletedIf a moderator wanders by and bans you before I submit this post it won't be too soon.

This is exactly the type of childish nonsense that we do not need around here.

B17Crew
03-22-04, 01:49 PM
Vett-Less = Idiot

Mart
03-22-04, 02:27 PM
Hey Vette-less just what is your prob, we have a great group here that really does not give a damn what each other looks like,

The only thing thing that really matters is that we respect each other as vette owners which is what this site is for.

Hey we all have beef about one thing or another, for instance I hate Fords but I can still respect those guys in them behind me. he he.Sorry ford owners.

If you can't play nice, leave..... Toronto.

Yoda
03-22-04, 03:00 PM
Let's get back to the original intent and comment by:


Anyone else see that 98, Indy 500 Pace Car fetch $100,000!!!???

That was one clean pace car for sure! I was very impressed by how it's value climbed so well. Is the owner on this forum by chance?

Thank you ;)
Bud Dougherty
CAC Forums Administrator

Moval49er
03-22-04, 03:20 PM
.

The special equipment that is added to any track use pace car at least includes a roll bar, 5-point seat belts, strobe lights, a communication system and onboard fire extinguisher system. These items are required for track safety. Other performance items that were added to the '98 I believe included a power steering fluid cooler, a heavy duty tranny and a free flow exhaust.
I agree - they also had stobe lights installed in enlarged headrest shrouds to make the pace cars easy to see from the race machines. Parnelli did drive the pace car after Greg Norman backed out, as I recall - my son and I saw the race for his high school grad present. When we saw that pace car I resolved the C5 would someday be my first Vette.

Like all the C5 pace cars including the 2004, the '98 required very little to make it pace car ready.

Rob
03-22-04, 06:03 PM
Vette-less,

You have been banned at other Corvette web sites, and I'm giving you fair warning right here and now: you're on thin ice here as well. I do not have tolerance for bull****. Tone it down, or you're out of here. End of story.

Mac
03-22-04, 07:06 PM
Amen. Now, can someone explain to me just how a 98 Pace could be worth that much money? I didn't see the auction. Was it, like, zero miles??

-Mac

Mr Cowl Hood
03-22-04, 10:55 PM
Amen. Now, can someone explain to me just how a 98 Pace could be worth that much money? I didn't see the auction. Was it, like, zero miles??

-Mac
No, at least 1/500 of a mile:L ....but I digress.

I think 02 Germany / Moval explained it best, being the one of three that was actually fitted for pacing the race and being just plain rare. Kudos to the guy who got that one. It's a real collector!!:cool

Erik S. Klein
03-22-04, 11:00 PM
I agree that the car was a real collectable but I'm pretty sure that my 100K would buy another Vette if I had it.

Of course, this guy probably had a lot more money and a lot of other cars in the garage, so it's a good deal for him.

If history is any indication, this car will go WAY up in value over the years.

Tom Bryant
03-23-04, 11:17 AM
I agree that the car is going into a collection and will not see much road time. There are a lot of boomers out there right now with a lot of money to play with. Somehow the money part missed me but if I had deep pockets and there was a car I really wanted it would be mine, no matter the cost. I think that is what we are seeing.

As far as actually driving them just look at the value and rarity of the cars in Jay Leno's collection. Every one that is finished is road ready and he drives them all. He got a ticket for unsafe speed for going 70 in one of his Stanley Steamers a while back. For those that are coming to CruiseFest you will notice that every Corvette in the Corvette Classics Museum (51 on display and around 100 in the collection) are all currently licensed. They all get a trip around the I 469 loop around Ft. Wayne occasionally to keep them in road condition. Even the '53s and each one of the complete set of '57 Feulies in every color offered get their turn on the road.

If I owned a car like that Pace car it wouldn't get daily use but I would drive it to shows and cruises ect.

tankman
03-23-04, 09:49 PM
Hey guys-
Yes I have one of the 1163 Pace Car replicas made in '98. According to all the hoopla I've read (and that's a lot!) the only additions made was the strobes and rear hatch cover, and the 5 point harness. Yes, only 3 were made like that and one is in the museum in Bowling Green. They are awesome to drive. mine as around 30k on it! It sees about 4 shows and the Woodward dreamcruise every year (along with a few first dates)
There has been one for sale on the net for years with only108 miles, it is $55k