Gee I wonder who that expert was? Overpaid, did I?

 

This IS the general discussion forum. Discuss at will. Fairly interesting so far.

 

Way too much worry about money. You can't take it with you. The cars are expensive and so are the modifications and parts we all love to play with. I'm just very happy in my middle age years to be able to afford the fun!!!

Save the Wave!

 

Ahh yes. No offense but my "young" *** cant wait to get my hands on your vettes!!

Now I only have to wait 30 or so years!

 

Just to reasure you all about interest of the next generation for midyears and other muscle cars. My 17 year old son absolutly loves my 2003 Z06... duhh... but when I told him I was buying my 66 he went nuts. When I got it home he took about 50 pictures with his phone and sent them to his friends. In about 10 minutes there was a crowd of 17/18 year old kidds drooling all over my car. Everyone of them said that one day they will have one. These cars can not be compared to the 30s and 40s cars that where very primative. Those cars in original condition have no great appeal to todays kids who are used to cars that handle very well and stop well. Corvettes where cutting edge technology and the looks are timeless.
As for corvette values, I have been saying for some time that they are overpriced. Just look at the E-bay completed sales, and you will see that 19 out of 20 cars go unsold. IMHO the speculators ruin every market they touch and the corvette market is no exception. How can I say that? Just as wall street has weakened this countries companies by demanding higher profits every quarter and so failing to reward reaserch and investment for the future, rewarding CEOs that just artificialy inflate stock prices while they destroy the value of our best companies. The speculators in the corvette market are the ones that you can thank for the proliferation of restamped blocks, forged paperwork and alltogether forged cars. As I have no intention of ever selling my car, I don't care. But you investors should. The closest thing that you have to the SEC is the NCRS, but they have no legal authority and so can't protect you from the sharks that infest every speculation market. Every forged 67 427 435 makes yours less rare and more suspect. Thats why I don't invest in cars or wall street. I invest in myself and in the company that I built. I will never let people who dont know my business tell me how to run it or let thieves who tell me they will make me rich steal it from me, and in my most humble oppinion that is the way to make money in this country. It was that way in the past, it is that way today, and it will be that way in the future.

 

Ken,
This thread was initially posted in the 'For Sale' section of the forum.....hence my comment.

Danno

 

I seriously doubt that this will result in a flood of cheap Mid-years...however we should expect a fire sale of McMansions, big screen TV's, and high-end luxury SUVs....

 

It's all just speculation. You don't any know better then anyone else what's going to happen to prices. So what should you do? Go out and buy a new car that is absolutely going to depreciate? Drive that old POS that you don't enjoy driving, but it's saving you money? If you are on this forum, I venture to say you are not the picture of being frugle / practical or you wouldn't have a Corvette.

I take the train to work everyday, so I have a "Train Car" that gets me back and forth to the station. For me the choice was a new Z06 at $70K+ that was almost surely going to depreciate, or an old C2 for less cash that I hope will at least hold it's value. If it goes up in value that's great, but I'm going to enjoy it either way!

 

I bought it to drive till I die, so I really don't give a S%^& .

 

Relatively speaking, some old business adages that come to mind are:

If you think it will appreciate-buy it.
If you think it will depreciate-lease or rent it.

Buy smart, sell smart.

Oak Trees don't grow to the sky.

Prices will always ebb & flow, and trends will come & go.
--------------------------------------
OK, OK, I know...

But, these same business sayings have also applied to nearly any collectible or any other perceived investment: Real estate, prized cars, precious metals, antiques, stamps, coins, art, books, tulip bulbs, beeny babies , autographs, memorabillia, etc.

So my take is, since I can't control the markets, I bought what I wanted, because I seriously doubted I will experience the same enjoyment from the wind in my hair, or the sound of side pipes in the hereafter; so "Damn the Torpedos! Full Speed Ahead"!

 

My final say in this speculation: YOU CAN'T ENJOY WHAT YOU DON'T HAVE!

 

Oh! My bad. In retrospect it was kind of a wierd post.

 

Emaples of previous auto bubbles:

Well,
in the late 1970's '55-'57 T-birds were hot at over $50K, by the early 1980's, they were in the low $20's.

In 1988, I had someone offer me $75K for my Ferrari 308 GTS that i paid $20K for in 1984, by 1991, the car was worth about $25K again.

I can recall some Ferraris that sold for 4-6 million $$ about 1988, that went for less than half of those prices in the early 1990's (ouch).

Even BB C2 Corvettes went sky high (at least in CA) in the late 1980's, then dropped by at least a 1/3 as the clones started appearing. I think it was Corvette Mike that i listened to rant about how all these 1967 427 cars he had that should be going for $90K, weren't selling at $75K.

Doug

 

The Baby Boomers (post WW2 babies from 1945-1960) represent 77 million of our nations 300 million citizens..roughly 1 in 4 people.... as they age they will sell their

1. Houses
2. Toys
3. Businesses
4. Stocks

Those Boomers born in 1945 turned 60 years old in 2005...
I look for Real Estate, Cars, and Businesses for sale to be at a
surplus in the next 15 years or longer..and thus a drop in price..
It will be a greater surplus than this nation has ever seen to this
date.The strain on our healthcare system and economy will be
greater also.

Real Estate tanked in Texas during the Oil Bust of the late 80's
early 90's...my hip shot guess is that this time the tanking will be
nationwide.. I hope Im wrong but I won't be buying any big properties
for a while.

 

From the late 60's to 83 I owned a 67 small block coupe. Paid a little over $3k to the original owner. Sold it & a 78 Pace Car for a Maserati Ghibli plus cash. Actually realized a 300% profit on the 67 and broke even on the Pace Car.
Had the Ghibli during the gold rush of the late 80's early 90's. Was offered huge money for the car by dealers. Didn't sell because the wife said "... it will keep going up." Well 6 months after the last offer the price went down faster than the Titanic. Spoke to a well respected foreign car dealer and asked what happened - answer - "Dealers were selling to dealers. Also Japanese and German buyers dropped out of the market because their economies went down the toilet."
Now I have my last 67 coupe and I am happy with it's market value. I didn't buy it to make $$$. I bought it to work on and have fun during retirement. It can go up or down but it will be in my garage until I forget where the garge is located.
The folks with more money than brains (there were a lot of them at Barrett Jackson) will try to outsmart themselves by buying something they think will turn a dollar instead of buying it because they want to enjoy it.

 

And when they die, their children will inherit their estates in the largest transfer of wealth our nation will have experienced. Flush with this wealth, these Baby Boomers' babies will purchase

1. Houses
2. Toys
3. Businesses
4. Stocks

And life will pretty much go on except without us.

 

Maybe it's time to sell.

 

I am ready to buy

 

Draw your own conclusions.. but when I look at the number of qualified
buyers (age 30-50) vs. the number of people selling I see a huge
surplus.. the number of people selling vs. buying does not equal.

 

I just bought a high option 1966 Roadster for what I consider a very fair price. I bought the car to enjoy - not to see if I'll make a profit in less than a year. I paid cash for my car; and as a member of a large Corvette Club with over 200 members I can easily say that I don't know of anyone in my club that financed a Corvette of any vintage.