67's

I don't think he thinks there is a market correction though, same price as last year.


http://forums.corvetteforum.com/show....php?t=1856091

jammovette

You just missed a 68 BB convertible that sold for $8500 yesterday on ebay. It was all there. I'm starting to get that itch and a "corvette fever" too . The only cure is to add another vette to the bunch.

Stingxray

I Think Jammovette is on to somthing here??????????......Prices are not set by the seller. Their set by the buyer! And always have been! If people see more value in a bag of Rice than a NM BB Midyear. Than thats what the market will bear. Necessity ...... BOOM to Bust ...... human nature........... nuff said



Tax rebate = Economic crack............Stagflation or worse ..Hyperinflation. Double digit's........ a month!

http://www.youtube.com/watch?v=PWLvc3AFtMg

vettebuyer6369

Not really sure what you are getting out of this forum in the first place.

I think the problem as referenced by the guy who was insulted by low-ball offers, is that people continue to get all personally caught up in the cars and the offers. Corvette owners by far are the most emotionally connected owners as well as are the most delusional regarding the value of their cars. When I sell a car and someone for whatever the reason makes a ridiculously low offer, I generally tell them it's unlikely we would be able to come to an agreement so we probably don't need to talk about it any more and thank them for their time. No histronics. Have a nice day. Similarly, I may make a low offer for whatever reason and its unfortunate when the seller gets his feelings hurt. Sell it or don't sell it, nothing personal. Why get "insulted?" Just say no, thank you.

This also goes back to the people who make frustrated posts about potential "buyers" not calling back or stringing them along. Get your emotions out of the buying and selling and your blood pressure will improve dramatically.

Injected Stingray

Corvette owners are more emotionally involved than most specialty car owners. I have a friend that has bought a few cars way under market by low balling a frustrated seller. The market for Corvettes and every other gas guzzling toy there is will fall and fall fast as gas continues to rise. Just look at Boat values! The Corvette guys that wish they sold last year will be crying for the next 5 years and the ones that don't want to sell will just enjoy there cars.

jammovette

If you're into corvettes to make money, you're going to be disappointed in your classic vette returns within the next few years. I suggest that if you fall into this catagory, sell now and buy mopeds and entry-level motorcycles and flip them. I however buy and drive my vintage corvettes daily for the interest and passion I have for them. Looking for another solid axel now, but haven't pulled the trigger yet. Pm me if you fall into the first category and have a C-1, sell to me and buy a motorcycle.

32hibo

What I am getting out of the forum is alot of people ....as I said.... ARE out of touch with the real world...as one gentleman said are the price of mid years going down??? Who Cares!!!...and YES I OWN one and part of another,,,,and a 2000....WANT to buy one????

tls630

I wish I had sold last year! But I didn't so I will live with it.. Again something is only worth what you can get for it, and no more than that.....

Johnny 66

Take a look at last summer's Carlisle Corvette auction.

Way too many cars didnt meet reserve. Cars are not selling. Most cars are way over priced and are not moving.

Bowtyeguy

Carlisles Auction were off because no one wanted to spend a 100 bucks to be a bidder. The cars in the Fairgrounds moved, some didnt. If you go Thursday and Friday you will see what cars moved at Carlisle. If you look at Fleabay its the same cars over and over again. Put a car out there with a fair price and quality and it will go. I saw a car on Ebay at 104k -then to 89k then to 79k now its back at 104k and still sitting. Money is tight right now but for someone selling they have to be realistic and not want the crazy prices prior years were getting. I do see when cars get over 50k they get harder to sell and above 40k people want docs and #s matching. If you want a fair driver they can be had for under 40k. JMHO

66rag427

People should have thought about this problem before they started sending all our money to Japan and then China. when you have a drain that large on your currency it will eventually reduce the standared of living for all of us. We can thank the old 60's hippies (my generation) with no loyalties. You get what you ask for.

Poorhousenext

Man said out of touch with world.

What is out of touch with world?

We are all in the same physical world, put are our personal worlds all the same?

Is there financial fear in some peoples world, while in others, there is not?

If there is financial fear in a persons world, is that person fear one of losing their wealth, are is it one of that person not having the means to support their image of perceived wealth due to being over leveraged.

One member posted that everything he possessed was paid for. Is he out of touch with the world because he's not worried about the price of Corvette rising are falling?

Could it just be he's always been in touch with his perception of the real world by never allowing himself to be fooled by the majority's perception of the world and allowed himself to be seduced into thinking that he could have it all by using debt leverage to show others how successful he is?

Is his perception of living within his means, mean he is out of touch with the real world?

Well, the answer to that one is easy, it's yes.

The reason it's yes is it seems that majority of the American people bought into the hype that taking on more debt than they could pay off at end of each month, instead of putting some money back to take care of themselves in the future was their right so they could live their preception of the "American Dream."

Now this discussion has been about selling price.

Selling prices always drop when people find themselves in the real world, plain and simple. Doesn't matter if your paper worth was $10,000,000.00 million are $100,000.00 thousand if you debt, which is always real, exceeds your real liquidity worth. You just can't make the payments on all that debt.

So if your one of those that doesn't have the liquidly to cover you debt due to economy that no longer allows you to just sell or borrow against assets to cover your debts at what you have in them are maybe a little more, "Welcome to the REAL WORLD of what you perceived to be your right to live the "American Dream," with leveraged debt.

Sad part of this, is what in the hell is going to happen.

Some of you think we have runaway inflation now...LOL Your not living in the real world if you think we do.

If you think I'm crazy with that, statement, then your not old enough to have seen or remembered your parents talking about real runaway inflation we had in 70's, where food prices along with all other staple goods prices where being raised daily.

I do as I was changing those rising daily prices. People can say what they want to about Nixon, but if it had not been for his courage to freeze prices and enforce that freeze, you wouldn't be living your precieved world American Dream today.

Right now interest rates are low compared to then when they were then, in the high teens and twenties and that wasn't credit card rates as there was a cap on them that later got removed because their interest rates were so low compared to other rates.

Good thing at that time was the level of credit card debt was very small along with number of people that had them.

Sad thing about the way most Americans have decided to live the dream is you have put those Americans who live in the real world of manageable debt leveraging or no debt, at risk of losing it all too if things really get ugly and the term to describe the ecomony is not mild recession, but deep depression.

So if you starting to feel the pinch of using debt to live the American Dream, you might want to consider taking best offer on toys from someone that has the liquidly in hand to buy them, because people with cash are ability to leverage debt to purchase toys especially those that are not top flight quality toys are going to become fewer and fewer if things get worst, and the non top quality toys most of us own are going to have the biggest drop in prices.

So if you fear the real world because of debt obligations, just remember, I fear your debt obligations and lack of liquidly to cover them too. In fact in my perception of the real world, you are my greatest fear to destroying and taking away the American Dream for me.

Have a nice day, cause your ruining mine.... Pull the trigger and either buy are sell. Suck it up for now and try again later...

I hope I've killed this depression thread.

Johnny 66

I disagree, there were plenty of people bidding, but the bidding stopped long before the reserves were met. This is due only to unrealistic expectations of the seller. When the bidding ends, that is what your car is worth, whether you want to believe it or not. Especially when the owners of New England Mike's and Pro Team are sitting in their reserved front row seats.

As for SleazBay, I keep getting e-mails from them that the same car is being relisted. (about 5 times now.) When will that idiot get a clue?

As for driver quality under 40K, let me know when you find one. I am looking for a '66, and havent found one yet under 50K.

The most recent one I looked at, a convertible in Mosport Green, was listed for 42K, and it was pathetic. That car wasnt worth 30k.

Again, if you find a decent '66 driver quality for under 40K, please e-mail me immediately.

John

Johnny 66

By the way, I was a bidder last year, and will be again this year. Lets hope the sellers got a dose of reality.

Has to be a '66.

Bowtyeguy

I cant find you a 66 but I know of a couple 65s and many 64s that are drivers under 40k. There is a 64 Coupe on here now for 28k thats a driver. There wasnt alot of everyday people plopping 100 bucks down to sit next to Corvette Mike or Terry. Barrett Jackson is making these auctions crazy, where people think that their car is worth alot more. It all comes down to what a guy wants to spend, and I was at carlisle Thursday and Friday and people were spending. They may not have been inside but outside they did. Saturday was a different story. People have to stop watching TV before they prive the cars. JMHO If you want a nice 66 and want a BB and will go 67K I can find you one.

Johnny 66

Bowtie,

I was born in '66, and have my heart set on one. Yes, I have seen plenty of 65 and 64, but the 66 seems to be a differant animal, and forget about the 67.

I saw a couple cars in the gallery (or what ever they call the for sale area) that were ok, drove a blue one a guy had from North Carolina, but he wouldnt budge on his 47K, and it seemed high. Hood was a a bit off color due to removing a stinger hood, etc, etc. I would have given him 42K, but he really wanted to tow it all the way back to North Carolina.

I am from Hanover, PA, 40 miles from Carlisle. Currently in Maine, in the Navy. So I am looking for a car in either area. I am not willing to run all over the country to look at driver cars, too many liars about their cars.

Drop me a line about the 66 BB.

John

Workin On 59

In a strongly rising real estate market folks that viewed their homes as ATMs with bedrooms attached are now facing a different world. As realty prices drop as much as 30% annually in the formerly frothy markets the squeeze is on for the big leverage crowd.

If those folks bought toys, including old Corvettes, and are now in a liquidity crunch, prices at the margin will be affected. As others have mentioned the driver and questionable quality cars will drop the most. The truly rich that often own the best cars likely will be much less bothered by all this financial turmoil. The low/no debt hobbiest may actually benefit with more affordable driver cars available.

The price of gas to drive a hobby car occasionally, even weekly, during good weather is not much of a concern to most folks. Compared to putting gas in a boat, 16MPG or better in a Corvette looks fairly reasonable.

Enjoy your rides!

vettebuyer6369

I love to travel and go to auctions for fun, but if I were shopping for a '66 for my personal use, the auctions are the last places I'd plan on buying. The cars simply aren't necessarily all that good, and there's an awful lot of delusional sellers, along with a need for both sides to consider buyer/seller charges.

And while you may have an attitude about ebay or a particular car there, there is abolutely nothing wrong with buying a car from ebay as long as you follow established old car buying principles. Namely, don't buy a car that you personally have not examined, and follow the rest of the Corvette routine. There are no more sinister sellers on ebay than there are in every single other venue of people selling cars. I've had very good luck buying and selling there, but I look at the cars and deals as critically as I would any other purchase made anywhere.

jammovette

don't be afraid of ebay, I have purchases 4 corvettes in the last three years and three of them were on ebay. My best deal was about 1 1/2 years ago, 66 427 coupe with buy it now for $24,000. Was only up for auction a few hours. Freshly rebuilt motor, the rest needing resto. I just finished resto. Wife's car now and she drives it every day. Solid rust free Kansas car. I will be bidding an C-1's at Corvettes at Carlisle though.

rayvaflav

J-Dogg, Don't give up. After pursuing a midyear coupe for over 3 years I was able to purchase a numbers matching nicely optioned '66 Coupe that has had a recent drivetrain and trailing arm rebuild for $39k. I looked at this car a year and a half ago and it was priced at $50k. It just took that long to agree on a price that the purchaser and the seller would be happy with. As a matta o'fact forum member Terry Fore has a '66 k/o, side exhaust, 4 speed coupe for sale under $40k. Check the Cars For Sale section of the Forum. They are still out there !
Ray