Cunningham Racer

[mrkawasaki]

Is there an economic Law that covers the patterns behind the 'limited/unique' object of provenance and the limited amount of potential buyers with the resources to fund and how does that compare with bikes of greater number/parity with more numerical demand/more people being able to afford?

I guess if there are less potential buyers at any one-time that are well-funded then the bidding will only really start at a point above the general market (product and buyer pool)?

Is it an accurate reflection or a distortion of any market place that the value attached to a limited object is decided by a relative minority?

 

[Fat Tire Trader]

Those are interesting questions.
In this auction, there were only two bidders that placed bids over $10,000.
The final bid/value was determined in the last seconds by the second place bidder.
If the second place bidder had placed a higher bid, he may still not have met the bid of the first place bidder.
If I had placed a higher reserve on the bike, I think it would have sold for more.
I have a theory about collectable bikes which I call going full circle.
When a bike is new it is worth X. When it is sold and ridden it loses value. It usually takes 20 to 25 years for a bike to depreciate and then appreciate until it is worth what it was when new. Some bikes never go full circle, some do, and some become worth more than when new. I worked as an apprentice for Cunningham in 83. I do not remember exactly what his bikes sold for then, maybe $4000. In 94, a new Cunningham could be purchased for $7500 and now 20 years later this one sold for almost 50% more than a new one cost 20 years earlier. In the same week, I sold a 1983 Fisher Everest. In 83, I think they sold for $1800. This bike just sold for $1200.

 

[merlinmanson]

Re:

with regards to the full circle theory - you need to take into account currency depreciation / price inflation.

i.e. 1994 dollars is roughly 1.61*2015 dollar, so $7400 should equate to $12k today.

 

[Smithjss70]

That's a kick ass WTB. I'll be in the country of it's MFG during the auction.

 

[mkozaczek]

This bike sold for the number it sold because it was un-restored, missing a few parts and not the best documented Ham. I imagine if it was thoroughly cleaned up, refurbished as needed it'd do better. It was in a great barn find like state thought, really makes the project that much more fun IMO.

 

[pinguwin]

un-restored

Not trying to be snarky, but that's quite often a positive.

 

[mkozaczek]

Re:

Sure, I meant it was neglected and it could be cleaned up. Restoration in this case doesn't mean paint or anything that drastic.

 

[pinguwin]

Martin, you know we have to needle about that.

 

[mkozaczek]

Re:

Yeah and I still want some good pics of that pearl white Attitude.