How was this GTE discovered?
The nephew of the original owner reported it to the GT-E Registry in 2005.
Jerry Heasley posted the story online with photos today:
Really cool. You can tell he was not happy about selling it and I imagine I could relate if I was in his shoes. I imagine its more to him then just a car and its more like letting part of himself go instead. The realization of his age and a hope to ever get it back on the road again has got to be a hard thing to admit as well. They loved that car and its their memory with it, They had to love it to keep it for 50years! Just think how often that will happen with families today? How many people do you know that will buy a car and hold on to it for 50 years today? Im sure if was much easier for them knowing that car will be brought back to its former glory and respected for its history. Good work guys
Great find, but I feel kind of sad I did not get a chance to buy such an exciting, original, rust-free and beautiful GTE. Wish I knew about it! This car should never be restored. And worth more than 60K as an original GTE in my book.
While on the surface $60k seems cheap for a E it is amazing how quick one can sink $25k into a car. Jim P will most likely have John Benoit do a fair amount of the work and with transport, engine rebuild and labor (even if Jim counts his own labor at $10 per hour) he will quickly surpass the price of the one advertised just up the road from him that is turn key at $85k.
Don, don’t forget the extra 427 mid-rise engine thrown in. That’s a 5k to 10K bonus depending on condition and bore size. I have not inspected the car, but maybe the less done the better for a rare “red XR7” survivor car like this. With some wise money invested on a “sympathetic” restoration…this car will be in a class all its own. I am sure there are several other cars out there for sale just like it…for 55K.
For the condition it’s in and what it needs. I’d say it’s a good price for both the seller and buyer. It was important to the seller that it goes to a cougar enthusiast.
Curious as to why the car was listed in the Registry with no owner info. , but San Jose CA , as the location.
Just to confirm!
I was never told about this car, maybe wouldn’t have been interested, but I was surely in the market , More than once in this time frame.
Seems like Jim waited a long time for this deal !
It was listed that way at the original owners’ request.
Also regarding the blue GT-E mentioned below – it was sold in '08 (last time I looked that was ten years ago), and that car and the one I just bought are not comparable from an originality and authenticity perspective.
How is it that the GTE Registrar , is the person that purchases this GTE. If theses were my parents or grandparents , or friends; I would help them get the highest price possible. I mean they were the Keepers of this Gem for 50 years.
Oh and guess what , the 50 year Cougar Anniversary is right around the corner. Go figure that. I think this car should have been put up for Auction. There are a number of people that would have paid way more for it. ** I thought we were a Cougar Community **
Does any body think something seems a little off here ?
Rick –
Your personal disappointment at not having an opportunity to make on offer on that GT-E, while understandable is not warranted by the facts.
As I know you now know, but are reluctant to admit: the sellers said they did not want to auction the car or even advertise it for sale on ebay, craigslist, etc They didn’t want to go through that process with the vultures.
They asked me, through the auspices of their nephew who was in charge of selling the car, if I would make an offer. I told them that I didn’t know what the car was really worth (given the condition of the original engine and its replacement, which hadn’t been run since 1973-74) no one did. But that didn’t really matter since all I could afford to offer was $60K. They accepted that offer.
I am sorry that apparently you feel that I should have declined to make an offer under their conditions , and left them to the vultures. Had they wanted to advertise the car, through any venue of their choice, as Registrar I would have been delighted to help them, in any way I could, as I have helped many others.
Uhh my name is not Rick. How do you get Rick
Anyways , it’s funny how in the Video your voice is edited into it. You talk about the price, as if you know you will have to explain yourself.
I personally think you and Royce are the Vultures on this one. Yall were drooling and frothing out the mouth I’m sure.
That said I think the old couple would have been better served, to have the car done up by someone like Don. Clean it up , leave it original as possible and put it up for Auction. Work a percentage deal with the old couple and get them what they truly deserve, and obviously need money wise.
So, I want to make sure I understand this situation COUGARSHARK. You’re upset the GT-E and XR-7G Registrars have inside knowledge of a GT-E for sale and that you or the community didn’t receive an opportunity to buy the car. Would you feel this way if Dave Wyrwas did the same thing with an Eliminator or Royce with a G? Why such the visceral reaction to this? Jim is privileged enough to know the status of the GT-Es due to his role as the registrar, and as such, can claim first mover advantage. Such is life. I’m sure since you mentioned Don, he can claim first pick of some choice parts for his car(s), but something tells me the reaction would be more muted…
Cougarshark (sorry about the Rick bit) – you are entitled to your opinion, even if it is wrong-headed.
This transaction did not happen in a vacuum. I was consulted about the car by the family. I know for certain that other knowledgeable people were also consulted. In every case the family requested that the car not be discussed on a public forum. They wanted a private sale. Like everyone else we discussed the benefits of Ebay, Barrett Jackson, and commercial brokers like Don Rush. They just didn’t want to deal with a circus. If it had been possible, the car would have stayed in the family. Would you sell your child to the highest bidder, or seek the best adoptive family possible?
I would think that watching the video would give the viewer a sense of the emotions involved. They were not looking for top dollar as much as they were looking for the best outcome for the future. I suspect that at the stage of life they are now, all material things are less important than the legacy they can leave for the future. I have said this many times: we are not owners. We are caretakers. We get the privilege of possessing one of these rare cars for a time. That is all.
I think that Jim has done a terrific job of helping literally hundreds of people find GT-Es and helping the buyers and sellers both find satisfaction in the process. I know from specific instances in the past that if Jim wanted to scoop up the deals he could have, and did not. I am also aware of the very large financial contributions, as well as his contribution of invaluable time, he has made to the GT-E and Cougar hobby as a whole. He trailered Cougar 1 to almost all of the 50th anniversary shows last year so people could see the car. That was a coast to coast commitment of many weeks. His wife is an angel, I think. He paid royally for the Marti data for all GT-Es, fortunately at a time when that was still possible. His work as the GT-E registrar has added tremendous value to every GT-e out there and he has saved many people from being badly cheated.
CougarShark, Since apparently Jim does not know your name, you need to contact him and let him know you are in the market. I would say that at least half of all GT-E sales are private, and in most cases Jim will be aware of the availability of cars when they come up, and can help you. In any event you should contact him about any prospective GT-E purchase as there are a few questionable cars out there.
I am Rick…
So, I want to make sure I understand this situation 69428CJ:
You think it is OK for registrars to buy/sell/trade/deal on registrar information they collect. Correct?
I do not understand how any official registrar, can use the data gathered from the public, for personal aggrandizement in any manner. The data they collect and study belongs to everyone of interest in that arena. They are “promoted” in the world as the data collector giving them a great advantage in any rare car arena over all others. The data collected is presumably for historical analysis. It’s an honor and privilege to be given the “key” to collect this data…for historical study only. In this case, the Robie “find” found the registrar and was collected strictly for historical value. So how can said data be used to “inside trade” and deal in any manner? Yes, registrars work hard…but for the love/good of the cars and the interested community. Registrar work is for the great history and is voluntary. There should be a Code of Ethics for Registrars–no trading on the data, no sharing of the data for trading and complete transparency when required. That is the only fair way to collect this valuable data.
That’s what this transaction should have been. Private . But once you put it on Social Media it’s out there.
Not sure why then , the old couple would agree to the Video. They could still be hounded by people. Hope not for their sake.
It just appears to me that these Two guys Cherry Picked this one with the Information they receive about these cars. Pay back I’m sure.
Is it good for the Community ? , I don’t think so but we all have our opinions. I just wanted to hear from other members , what they have to say.
I will say that I respect the work Jim and many other have done for these cars. Anyways bring it on.
Hey 69428SCJ
Kinda like saying a County Board Supervisor has the right to buy up land; just before they all vote to build a new highway there. politicians getting rich, kinda like the Clinton’s becoming Billionaires.
Oh and Don does his thing for a living. Which also pays for employees so ( yea ) that’s different.
Also I would not give out my info about buying a car, nor will I give any info on a car I know of. Not now anyways.
COUGARSHARK you are quick to condemn some one that I am certain you do not actually know. The seller was well informed before soliciting an offer from Jim. You are just plain wrong in your accusations.
BOSSGTE, You are sorely mistaken. I spoke to the family directly and was not invited to make an offer. Jim was. He did. They accepted. They had the knowledge before hand that there were other avenues available to them. They made a knowing decision to take the path they chose.
Both of you: you seem to desire a GT-E. Are you improving your chances by insinuating that the single most knowledgeable and trusted person in the field disreputable? Will this enhance your opportunities in the future?
Get over it guys. If the seller had wanted an auction they knew how to go about doing that and they were also fully aware of the other possible options. What they wanted is not what you would have preferred. Better luck next time.