Recent High $ PW Sales

[DavidGB]

I just watched a '47 WDX sell for $65,000 on Mecum's Kansas City auction. Wow. Beautiful truck of course. Even more incredible was the $95,000 garnered for one on EBay recently. That was a spectacular Cummins conversion. Who is buying these? I have seen any number go in the 40's and 50's and wonder if anyone has noticed if this has become more common in the last few years. All of the trucks sold at this high end that I have seen appear to have been highly restored and or have some fantastic custom work done. It makes me think that this time around I had better not sell my truck or I might not be able to buy one again. It also is somewhat gratifying to see this sort of appreciation (no pun intended) of/for a truck I have for so long admired. I sometimes also wonder if it is no coincidence that what seems to me to be an above average streak of traditional American values amongst the PW community has lent a special aura to the Power Wagon. So many people look at trends today and can't help but have a yearning for the days that are so well represented by the Dodge Power Wagon [I]and [I]the community of its' fans.
I mean, when you look at these trucks you think what a perfect symbol of our American heritage. Strong, immanently practical, no nonsense, and hard working and designed so well that it is no stretch to think of them as art. So many of the people involved here are also strong, immanently practical, no nonsense, hard working and yet full of heart.
So it seems to me.
DavidGB

[Jeff in N.Tx.]

Did either of these REALLY sell for those prices?? Often, the seller will have someone stand by to buy it back for him, if the auction price is not going high enough. It is a sneaky way of having a reserve price, yet claim it is a "no reserve" auction. This can be done easily, without even the auction company knowing about it. Yes, the seller is out the auction commision, but still has the vehicle and can try selling it again later at a higher price.
This is more common than you would believe.
Jeff

[Charles Talbert]

Is this a high price?

Depends on the quality of the WHOLE project; and what a buyer wants. I've seen them go for well more than quoted here. High end quality and workmanship will bring its worth from a buyer who is looking for that.

[DavidGB]

Regarding the truck sold today at Mecum's. There were multiple interested parties and no reserve. I believe the price was real. The EBay auction sale price is as reported by EBay.
I personally believe there was value in those vehicles and know that the cost to bring a truck to the condition that these are in can easily exceed those numbers. I guess I am just fascinated to it.
DavidGB

[NNICKB]

This can be a complex topic. There is a lot of market manipulation that goes on at auctions. High prices will induce more sellers to come to the auction, and more "investors" to try and get in before they go higher. So it seems like a win-win for everyone (especially the auction house)...except the guy at the end of the line.

That being said, restoration costs have been going through the roof, like everything else these days. This of course adds value to cars that are already restored (or can make them relative bargains.) It also depresses the value of unrestored cars, and can make marginal ones practically worthless. So that PW that has been sitting in the back 40 for some years is NOT worth $65K... at least until you add $65K (or more) in labor and materials.

There is also a tendency to overrestore cars today, and the market does recognize this kind of investment, at times. It might cost some $3K to have your rear axle housing disassembled, the imperfections filled, and then finished and colorsanded. Go through a whole vehicle like this from bumper to bumper and you really will have a work of art, and an expensive one at that. Of course, no vehicle ever came out of a Detroit factory built to this standard. But still, a fully detailed "perfect" car will draw cash way more than any other, including a well-preserved, low mileage original.

Like the saying goes, "You pays your money and you takes your choice.."

[Kevin Mienke]

I can’t say who is buying the more expensive Power Wagons because I don’t know. I can only speak for myself in saying that I am willing to spend more of my hard earned money on my old Power Wagon than any of the other things I own. Relative to my income, I have spent huge amounts of money on it and will go on doing so.

I don’t do it for investment returns. Lord knows I will never sell it. And I don’t do it because I want to drive around in stylish elegance either. I’m not much for flair and I don’t necessarily like the attention my truck draws.

I spend more money on the Power Wagon because the Power Wagon is worth more to me. It is distinctly old and distinctly American. I am in that growing group of people who appreciate the beauty of that.

After 8 years and 800+ posts on these forums, it’s probably pretty obvious that I have some strong, negative opinions about our culture of consumerism that teaches us to throw away the old and buy the new. Buy new cell phones. Buy new TV’s. Buy new Cars. Get a bigger house.

I’m passionate about this because I’ve personally felt the pain that comes from the idea that buying new stuff is the answer to every problem. I’ve personally experienced the down side of pursuing the idyllic American Dream at the expense of that which, ultimately, is far more important to me.

The way forward, as I see it, is about responsibility. It’s about teaching the next generation to appreciate those things they are blessed to own. It’s about teaching them that if something needs maintenance, maintain it. If something needs fixed, fix it. If something is getting old, nurture it. If you need to spend money, be a wise steward. You can either spend your money on a cell phone that will take pictures and play Puccini’s "LeGraza Vianne" when somebody calls, or you can keep your old phone and start saving money to get something really cool; something like a Power Wagon.

With that said, I would judge that the people buying those high dollar Power Wagons could be just about anybody. Could be someone with cash to blow or it could be someone who is doing their level best to buy and preserve a little piece of a spirited America.

Lord knows owning a Power Wagon is an expensive endeavor whether you are making a large initial investment on the purchase of a fully restored truck, or nickel and diming your way toward restoring one yourself. But it's worth every penny.

[Charles Talbert]

I've seen trucks bring some pretty big bucks because of all the reasons mentioned. People invest for many different reasons. I don't get the whole story on many of the trucks that roll in and out our doors, but I do know that by in large, people want top quality materials and workmanship put into these trucks. That is a much bigger factor in decision making than cost, and when seen by others it will for certain bring in more business.

[Kevin Mienke]

I've seen trucks bring some pretty big bucks because of all the reasons mentioned. People invest for many different reasons. I don't get the whole story on many of the trucks that roll in and out our doors, but I do know that by in large, people want top quality materials and workmanship put into these trucks. That is a much bigger factor in decision making than cost, and when seen by others it will for certain bring in more business.

After going to your shop and seeing the craftsmanship that goes into your work, I don’t suppose the customers at M Series Rebuild complain too much about anything. Those who are conscious of quality workmanship and materials will always appreciate the fact that corners are not cut.

[NNICKB]

Interesting thread.

There are some really incredible craftsmen out there restoring and modifying cars and trucks, and my hat goes off to anyone who can learn this type of skill well enough to make a living at it. Like any artist, these guys need patrons, who appreciate their work and are willing (and able) to pay for it.

Last summer I took my two sons to a high end car show...Packards, Marmon 16s, and such. Most of the car owners were very approachable, and some even invited the boys to sit in their cars. These were obviously very wealthy and successful people who knew their business, but also knew their hobby, and knew what it took to make their cars right.

Sure, there are a lot of hucksters out there, but it really bothers me how our society has turned on people who are good at what they do, particularly if they are in the business of manufacturing or fixing things.

It looks like my Dodge will end up being a father and son, "nickel and dime" project. I doubt it will turn out as well as what a professional shop might do. But we will play the hand we are dealt. Happily, too.

Kevin mentioned Puccini. I wouldn't know how to program him into a cellphone, but I do have some fond (now) memories of my dear old Dad blasting the opera through the house on Saturday mornings when he thought his boys were sleeping in too late. Usually while he was cooking mass quantities of something red. Nowadays I sometimes put a Puccini CD in the boombox at the shop, and it brings tears to my eyes. But then, we ARE Italians...

[Kevin Mienke]

It looks like my Dodge will end up being a father and son, "nickel and dime" project. I doubt it will turn out as well as what a professional shop might do. But we will play the hand we are dealt. Happily, too.

That's what it's all about...playing the hand we're dealt and being content with it. Your truck will turn out great and you and your family will be better for the experience.

By the way, I am craving Italian gravy now. Bless the Italians for giving us the best food in the world, but you can't persuade me on the Puccini thing.

[DavidGB]

Great comments

I have really enjoyed reading the opinions expressed so far.
To my point that perhaps there is something a bit different about the attraction of the Power Wagons in comparison to other old vehicles I will try to explain further.
I have a few other old Dodges in addition to my WDX. A 1938 D8 (very nice driver condition,) a 1942 WC 53 (still under going a major redo,) and a 1954 Custom Royal (quite solid - needing some mechanical attention.) I have different reasons for being interested in each of these. None of them though has the kind of following that the Power Wagon has. The Carryall is a close cousin and highly admired but I have not seen any sell at the high end attained by the WDX - WM 300 Power Wagon. And remember, the Power Wagon was a working man's truck and also can not be considered rare.
I think that one of the reasons for it's popularity is that the design "makes sense." The Architect Louis Sullivan articulated this in this quote:

It is the pervading law of all things organic and inorganic,
Of all things physical and metaphysical,
Of all things human and all things super-human,
Of all true manifestations of the head,
Of the heart, of the soul,
That the life is recognizable in its expression,
That form ever follows function. This is the law.

(BTW Frank Lloyd Wright was an assistant to Sullivan.) Compare the typical truck of today, designed for comfort and "mass appeal." But what I think really sets it apart is that all of [I]you[I] (the participants in this forum) vocalize and share a view or way of life that is strong and appealing and by way of association, that has added an aura unique to Power Wagons. Who else has VPW with its annual rallies (that have spawned many others,) and who else has there own Magazine that has such a wonderful philosophical owner/editor. I believe that the Power Wagon as admirable as it is, is more so because of the quality of so many of those who admire it.

DavidGB

[NNICKB]

By the way, I am craving Italian gravy now. Bless the Italians for giving us the best food in the world, but you can't persuade me on the Puccini thing.

Puccini is definitely an acquired taste. Don't know if this helps, but il maestro kept a loaded shotgun next to his piano, while he was doing his compositions. This was so he could get the uptake on the ducks that flew up and down the river next to his villa. He was truly one of us...

[im02crazy]

crazy today, cheap by tomorrows standards

Nick; glad to hear ur keeping the PW and will redo as a family project. Mines almost done and anytime u want detail construction pics let me know.

Yes these prices are real. I sat back for years watching and wanting the boyhood dream truck. I watched the web and found a near perfect one at a price I thought very fair. At the same time the PO was gettting calls from the mideast offering double what he was asking (he was very low) and a shipping premium. Lucky for me he thought this was a hoax. It wasn't. They, like many here, have a deep respect for the machines of our elders that shaped our present and share our future. Their grandfathers used Power Wagons to roam the deserts, find black gold, and set the destiny of nations.

They have and can pay any sum for the object of their desire.

Our challenge is to hold on to our trucks as long as we can afford them in our real world economy. It's changing fast. Hagerty last issue ran a PW woody on the inside back cover, and my appraisals have doubled in the past year. I can only hope to enjoy mine while I'm healthy, and share my enthusiasm with others for whom the Power Wagon is a new and wonderous thing.

[NNICKB]

Nick; glad to hear ur keeping the PW and will redo as a family project. Mines almost done and anytime u want detail construction pics let me know.

Yes these prices are real. I sat back for years watching and wanting the boyhood dream truck. I watched the web and found a near perfect one at a price I thought very fair. At the same time the PO was gettting calls from the mideast offering double what he was asking (he was very low) and a shipping premium. Lucky for me he thought this was a hoax. It wasn't. They, like many here, have a deep respect for the machines of our elders that shaped our present and share our future. Their grandfathers used Power Wagons to roam the deserts, find black gold, and set the destiny of nations.

They have and can pay any sum for the object of their desire.

Our challenge is to hold on to our trucks as long as we can afford them in our real world economy. It's changing fast. Hagerty last issue ran a PW woody on the inside back cover, and my appraisals have doubled in the past year. I can only hope to enjoy mine while I'm healthy, and share my enthusiasm with others for whom the Power Wagon is a new and wonderous thing.

Dave,

Good to hear from you. I kept your contact info and hope to view your stash next time I get to Baltimore.

The WDX/ WM300 Dodges have assumed full "collector" status for some time now, at least the ones in decent shape. Basically this means that they have been noticed by the auction/investor crowd, as well as the "serious collector," and are now priced accordingly. They are getting out of reach for the regular guy Dodge enthusiast, at least those who don't have theirs already. A little sad to see the old workhorses on the stage instead of the woods, but at least their appeal has been properly recognized, and they will be preserved for future generations.

As for the folks in the Middle East, well view this link if you haven't seen it already:

http://www.youtube.com/watch?v=1XUEvkMZHno

We had big plans to go to the rally this year, but I have had some health problems of late, and missed a lot of work. So I will be keeping close to home and piddling around the shop with the boys.

Nick