Summer Edition of the GAA Classic Auction

Summer Edition of the GAA Classic Auction

The big sale of the day here at the summer edition of the GAA Classic Auction was a 2005 Ford GT. When the hammer fell, it sold for $435,000 which was more than many experts expected. It was one of the many six figure sales that we witnessed here today at The Automobile Palace, GAA Classic’s auction facility here in Greensboro, North Carolina. Saturday was the big finale for the three-day sale. Many examples of top level muscle cars sold here today, proving that the collector car market is alive and well. 

Another big sale happened later in the afternoon when a 1970 Plymouth Hemi Cuda sold for $205,000. And a surprise late entry made an interesting appearance when a 1970 Chevelle SS LS6 454 with documentation crossed the auction floor. The bidding seemed to stall out at $160,000. But one buyer kept negotiating after the sale and got it for $165,000. At mid-afternoon, in a special charity auction, a 2001 Bullitt Mustang was offered to support the Baptist Children’s Homes of North Carolina. Not only did the sale of the Bullitt Mustang raise $75,000 for the children’s charity, but many of the auction bidders offered large pledges totally another $35,000 to go toward the orphaned chidren’s homes. It was one of the heart warming  moments of the sale.  All of the proceeds went to the BCH. 

Here are some of the stellar sales we were watching today at the summer edition of the GAA Classic Auction.  Click through the slider below to see the cars and find out what they sold for.

Cars-On-Line.com is reporting the action here at the summer edition of the GAA Classic Auction at The Automobile Palace in Greensboro, North Carolina. This is where they hold the GAA Classic Auction three times a year. The summer edition began on Thursday, July 21 and will run through Saturday, July 23. Our readers love to review the results of this auction because so many true “blue collar classic cars” are sold here. These are the “bread and butter” classics, and when they sell you note the prices. That’s how you measure the health of the collector car market. With the economy taking a dive and inflation rearing its ugly head here in the U.S., will it effect what collector cars will sell for? We think that question was answered here in Greensboro this weekend.

The whole collector car community might be breathing a little easier today after a really good Friday sale at the summer edition of the GAA Classic Auction in Greensboro, North Carolina. With the U.S. economy somewhat challenged and inflation on the rise, we didn’t know what to expect when we came here to Greensboro to cover the big GAA Classic Auction. But the collector car market is alive and well proven by the results of the Friday sale here. 

On Friday a 1956 Chevrolet Bel Air Nomad Wagon rolled across the auction floor here at The Automobile Palace. Although the bidding seemed to stall out at $140,000, and the reserve was not met, a buyer continued to negotiate off stage. It was announced a little later that the Nomad had sold for $150,000. Now that was a decent price for a very good quality classic Nomad. It was the top sale of the day. Earlier a 1965 Ford Falcon Futura Sprint Convertible surprised everyone when it sold for $83,000. We think that might be a record. 

Here are the top sales from Friday

Cars-On-Line.com’s Car Show team will be on hand here in Greensboro to bring you all the action as over 650 cars are scheduled to cross the auction block.  GAA’s special auction facility, which they call The Automobile Palace, was expanded to over five acres of display area all indoors. The sea of cars here is endless. So much to see. Watch this page all weekend, and we’ll keep you updated with the cars and prices they sell for.

Classic car dealers from throughout the Southeast are on hand to buy special cars for their inventories. All of the top collector car shops are represented here. But you can join in the bidding as a private party buyer as well. 

Our photo-journalist, Bob Boberg of eClassicAutos.com, thought you might like to get a taste of what it is like to be here at The Automobile Palace and experience the auction atmosphere. Here is a video montage he did for your enjoyment:

Online bidding is done through a company called Proxibid, the online bidding internet portal. The buyers fee is 11 percent on vehicles sold over $10,000 and $800 on vehicles sold for $10,000 and under. The percentage is a little higher, 15 percent on mini-bikes with a maximum fee of $800. The buyer’s fee on memorabilia is 15 percent. Click here to learn more about bidder registration.