VW Cabrio for $50K

[66andBlue]

A 1979 Beetle Cabrio with only 0378 miles!
Was this car over valued or under valued? What do you guys think?
https://bringatrailer.com/listing/1979-volkswagen-super-beetle-cabriolet-17/

[Garry]

Its what the VW people call a fattie, a late model not that popular but given it is a cabriolet and basically brand new, I don’t think the price is too bad.
 Cabriolet get big prices for all models, all around the world and that same vehicle, with maybe 100,000 miles would fetch between $30-40k Aust but as a near zero miles car it is anyone’s guess what it is worth, certainly you are not going to buy it to drive it, the write off in depreciation would be pretty steep.

[MikeSimon]

Auctions, especially on-line auctions are not a good indication for fair value. I would NEVER put a bid in on anything on line, including BaT. Can you spell "shill bidding"?
Even some of the major live auctions are dangerous traps for a trusting bidder. I have observed sellers have their friends bidding up the prices and even "buy" a car to avoid having to sell them for too low. Witnessed this in Las Vegas a couple of years ago.  I do not attend any of the big auctions of one particular auction house anymore.
With some of the things going on lately on BaT, I have the same concerns.
BaT has evolved from a great place to buy a project (and pick it up with a trailer) to a commercial venue for professional sellers who offer six-figure "resto-mods".
And when you read the comments of some of the bidders, they have no clue what they are going after.