Bomba_MC

Seems lately the value of these cars has been going down or possibly levelling off.

Any opinions on where you think the value of a 58 or any classic corvette is heading?

I posted a few pics of my little project and am pretty well done with doing anything more to it except drive it. It sits with the original engine and transmission and seems to be running fine.......for now anyways. Its not perfect but sure does turn a head or 2 when I take it out.

jasonsamara

Well I'm no expert, but I think they will go up over time. The con that you will hear is that the younger genertaion does not care etc. However, they are not making anymore of them and I think at the very least people over seas will buy them up. I have always heard people over there hate Americans, but love American stuff. I'm gonna keep buying because I enjoy these cars, and that is the most important part. Looking at a gold bar doesn't get me as excited as looking in the garage.

Easy Rhino

Oh man, that is a beautiful '58. My wife wants one just like that.

Zoomin

58's like yours will be going up. Quality, original cars will get scarcer and scarcer as the restomod craze claims a bunch of those that remain.

rfn026

Ok. I can't give an impartial answer here since I own this '58. I just wish mine looked as nice as your '58.



Corvette prices are flat right now. We're looking at maybe a moderate increase.

Porsche, Alfa and Ferrari prices are unbelievable. right now. You simply can't keep up with the market values on those cars.

I think the Corvette is basically a domestic market. My 911 is in a world market. That makes a huge difference. There is so much money (cash) floating around that it's driving the market for certain marques.

If you think about it a car is an untraceable asset. As long as you don't register it no one knows you have it.

Just as Nigerian money is driving the London real estate market there seems to be a lot of Russian money in the collectible car market right now. That's just a guess since so many use brokers.

It could also be hedge fund folks. They have boatloads of spare cash as well.

The bad part is that neither the Russians nor the hedge fund folks seem to be into straight axle Corvettes. The '58 will continue to increase in value. It just won't do it as quickly as other marques.

Richard Newton

Bowtyeguy

Not just 58s but most C1s and 2s go up 5% every year or more. Early Spring prices are nuts and level off when Summer comes. The more original the more they bring EXCEPT these Restomods are bringing a ton.
I know 58 has its special things and people like them, but come Feb I am sure the price will be up.

Bad Bird

Come on man, this is a pretty silly sweeping generalisation.

abdo

To the OP:
I'm sure you have read many articles critical of the '58 for the fake louvers on the hood and the chrome strips on the trunk lid.
But lately there seems to be a growing attraction to the '58 because it is unique to the C1 generation because of those features.
My guess is that the '58 will increase in value, even if it is slight.

fyreline

I'm in pretty much the same situation as Bomba with my '62. It's a nice 62,000 original mile matching-numbers car that I fortunately bought right (at least I think so). I purposely sought out a stock, unaltered car that I could drive and enjoy as I puttered around with it in the garage on nice summer nights. This one fit the bill - it starts, stops, runs and drives very well, and it's not a 100-point car I would be afraid to drive. Most people think it's "perfect" as is, but I know the little things it needs. So, my best advice to C1 owners is to drive, preserve, maintain and above all ENJOY your car. After all, in the big picture we are simply custodians of these pieces of rolling art for future generations. There will never be any more of them then there are right now, they are exceedingly beautiful and desirable, and collectors are always going to want them. Market value has never driven my thinking on these cars. Sure, I guess it matters somewhat - but what the car is worth to YOU should always matter more than what it's worth to someone else. Just my opinion, of course.

abdo

Fryeline:
My feeling exactly. I have owned my two C1's for enough years that I have learned about their idiosyncrasies enough to keep them running reasonably well. You are right, they a beautiful cars and have that unique solid axle styling even if they don't handle like the new cars.
When we get in trouble with a maintenance or repair situation, there are always guys like John Z, Rich, Frankie and others to bail us out.

The '58s are special, not only because of the one year styling features, but also because of the first year of the '58 to '62 body style. I have several friends with '58s and those cars are great Corvettes.

5869vette

Mr. Bomba, You have a very very clean and honest `58.
Having just completing a nut and bolt restoration on my
`58, I know how much I have invested in it. What do you
see as the value of your car? Would you sell it if someone
made you an offer and what would it take?
$80,000 ?

Tony

Bomba_MC

Hello Tony,

I never really kept track of how much I have invested in it except to say that I have enjoyed the journey and certainly learned a lot, thanks to this forum. I think the biggest return on my investment has been the smiles from people who see this car. There was a woman that when she saw the car, put her hands up to her mouth and became teary eyed. When I saw that, I approached her and she explained how the car brought back memories of her late husband and when they were young and dating. I invited her to sit in the car with her granddaughter and took pictures for her to keep and remember.You will see the picture of that day below.

Then there was an 8 year old who saw the car and looked up to his grandfather pulling on his sleeve saying "LOOK A RACING CAR!!!!". Needless to say I invited this little guy to sit behind the wheel of this racing car while his grandpa, smiling from ear to ear, took pictures.

Who could ask for a better return on their investment than this? I enjoy sharing this car and making people smile. I love to see the excitement on their faces when they get to sit in the car. Its possible that one day I will sell this car, but for now I just enjoy driving it and making people smile. I am enjoying the return on my investment. So maybe I just answered my own question,,,it goes up in value each time that I drive it and bring a smile to a face,,,possibly accompanied with a precious memory or moment in time long past.

pullin-gs

My C1 (OK driver-condition matching #s 1960) has pretty much kept up with inflation over the years. I bought it 21 years ago not because it was investment material, but because I liked it. If you are expecting an investment quality car vs a really cool 1958 (trade ya?, yours is a nice car!) to proudly own then you may want to look elsewhere IMO.

Bomba_MC

And further to my response posted, the car has a few quirks, much like I do. The car has seen some refurbishing, much like I have,,,,my right leg was rebuilt from the knee down. The car is probably not as responsive or as quick as it once was, much like me. You see, this car and I share one thing in common, we are both the same age and fortunately can both still make people smile.

jmschmit

Looks pretty much like mine. That's really sharp car. How long have you had it? I have had mine for 41 years, they sure are fun. BILL.

65 fi

From a monetary standpoint, the cars tend to cycle with the economy. The nicest examples are always going to be " blue-chips".
As a hard asset you can always do better with precious metals, bonds, stocks, etc. but, IMO, a person typically buys cars for the enjoyment factor. It seems to me you have the enjoyment covered.