Another sign the world is coming to an end...

[AnalogMan]

I thought it was absolutely insane when the 1976 Toyota Celica sold for $62,000 ($65,100 with buyer's premium) a few weeks back.

Check out how much this 1998 Subaru just sold for:

https://bringatrailer.com/listing/1998-subaru-22b/

Yeah. Really.

Now everyone trying to sell their worn-out STi on craigslist is going to use that price as a benchmark. I can see the ads now... "One just like this sold for $312,555!!"

[NoHaveMSG]

That is not comparable to any other subie on the market. If they think their car can compare to that I want to know who ties their shoes for them.

[alphasaur]

I mean it's a really rare car. Do I think it's worth 312K? no, but I also don't have an obscene amount of money/car collection (who I'm assuming bought it)

[p1l0t]

OMG a 22B [gizzes in pants] Although I do have a JDM STi swapped wagon so I am kind of a fanboy...

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[Irace86.2.0]

The crazy thing is that this was bid on by multiple people who have deep pockets all clamoring for the same thing. Some people have too much money.

I understand that cars can be rare and expensive or expensive and expensive or old and expensive or have a story and expensive, or it can have a combination of things. This seems to be rare, but not visually unique, nor does it have a particularly exciting story, nor was it particularly expensive to begin with, right? Seems overpriced, but rich people have so much cash to burn that they can waste money. Then again, this will sit in someone’s car museum and never see much more road tike before being flipped as an investment.

Pretty sure this was the car:

[soundman98]

How sad it's only got 25k miles on it.

Like leaving a puppy in a cage so he don't pee anywhere else...

[Stonehorsw]

Nice to see that someone will take care of this car for the future generations to see.

[DarkPira7e]

Having ridden in a couple swapped 2.5 RS, the hype is merited. (I'd rather see the money spent on a 22b than some McLaren or something) If I was not into RWD, all my money would be going into building an STI swapped RS. Not to make a million horsepower, but just to experience a really stout 4 door car that is no frills with an intense aftermarket.

Weighs very little, handles well with the right setup... and came with glass headlights in 2000

[AnalogMan]

Originally Posted by Irace86.2.0

The crazy thing is that this was bid on by multiple people who have deep pockets all clamoring for the same thing. Some people have too much money.

I understand that cars can be rare and expensive or expensive and expensive or old and expensive or have a story and expensive, or it can have a combination of things. This seems to be rare, but not visually unique, nor does it have a particularly exciting story, nor was it particularly expensive to begin with, right? Seems overpriced, but rich people have so much cash to burn that they can waste money. Then again, this will sit in someone’s car museum and never see much more road tike before being flipped as an investment.

Completely agree, as well as with the comments about how cool and rare this car is.

But $312,555?!?!?

When the car was listed, I thought, hmm, nice car, interesting, I could see paying somewhere in the low $20k's for it, but that someone would probably bid it into the $30k's. I was off by an order of magnitude.

As you pointed out, it wasn't just one mentally unstable insanely rich person willing to pay that price. There were multiple bidders into the high $200's/low $300's.

Yes, the uber-wealthy have unimaginable amounts of cash to burn. It's their money to spend any way they want. But it just strikes me as somehow obscene and depraved when people spend $312,555 for a Subaru. Any Subaru (no offense to Subaru, I love them and have 3). That's more than the average cost of a house in this country. For a Subaru.

https://www.fool.com/the-ascent/rese...e-price-state/

Is this car really 10 times more fun to drive than a new WRX? Is it worth 10 times the cost of a new WRX?

It's not just what other cars could be bought with even a fraction of that money (after all, it's personal choice). But the better things that could be done with it. No matter how astronomically wealthy a person is, does anyone really need to spend $312,555 for a Subaru? Somehow, it seems like spending, oh, I don't know, maybe half of that on a fantasy car and then maybe the other half on accomplishing some good in the world might be a better way to go? I love cars as much as anyone here, but I could think of a few more meaningful things that could be done with that much money.

There is far too much money concentrated in the pockets of far too few people. In the past, whenever this situation has occurred, it usually doesn't go well. If you happen to have a time machine, travel back and ask the French aristocracy in the late 1700's, or the Russian nobility in the early 1900's, how things worked out for them.

Or maybe just travel back and stock up on every Subaru Impreza 22B STi, 1976 Toyota Celica, S2000, and Civic Si you can find.

[Dirty Harry]

STI Version 5s, which are a notch below the 22Bs, are regularly selling for over $100K AU here now. Look cool, but a lot of coin. Probably a “bargain” compared to a 22B.

https://www.carsales.com.au/cars/det...SSE-AD-7154454

[Tcoat]

Originally Posted by AnalogMan

Or maybe just travel back and stock up on every Subaru Impreza 22B STi, 1976 Toyota Celica, S2000, and Civic Si you can find.

The irony of that is you could all of a sudden make them valueless!

A great example of this was in the model kit collecting world. There was one old Aurora kit that was selling for around $1500 on a regular basis (That would make the car about $12 million in comparison to original price). Then somebody found cases of them in a warehouse someplace. Now they go for about $400.

The reason that these cars go for so much is that they are rare and unique in some way or another. You have to many and you take that value away.

Oh and remember when you talk about how the rich and powerful were overthrown that they had been in place for a thousand years before that but the systems that replaced them usually crumbled within a few decades (the Russian nobility is a great example of that). It looks great that they were overthrown until you place the whole thing in context.
There have always been people with more than others and there always will be.

[WolfpackS2k]

It's an amazing car. And rare. And arguably one of the most attractive Subarus made.

[NoHaveMSG]

Originally Posted by DarkPira7e

Having ridden in a couple swapped 2.5 RS, the hype is merited. (I'd rather see the money spent on a 22b than some McLaren or something) If I was not into RWD, all my money would be going into building an STI swapped RS. Not to make a million horsepower, but just to experience a really stout 4 door car that is no frills with an intense aftermarket.

Weighs very little, handles well with the right setup... and came with glass headlights in 2000

I have always wanted a 2.5RS. Sadly the prices they go for are pretty high. A clean one is well over 10K around here. I can get an R32 GT-S for that.

[AnalogMan]

Originally Posted by Tcoat

There have always been people with more than others and there always will be.

Of course. That’s how it should be. Those who work harder, are more innovative, who provide useful things that others don’t, should get and have more than others. Otherwise, there’s no incentive to trying harder. Altruism isn’t enough motivation for most people.

But to me there’s a point of unjustifiable obscenity. Maybe it’s because I’ve had to deal with venture capitalists, hedge fund managers, and investment bankers for most of my career. IMHO, the rewards they reap are not commensurate with their contributions or efforts. A thief may get away with stealing millions (or billions), but did they really earn it?

You’re also absolutely right that corrective mechanisms are generally slow in coming. I don’t expect any in this country anytime soon. Americans as a people are too complacent, short-sighted, and unmotivated. We can’t even get our act together to have a reasoned response to the pandemic.

I would bet this car was more likely bought by a financial speculator than a true enthusiast who intended to drive it. Speculators sometimes get their own comeuppances when the bubbles they’ve created burst out from under them.