Rick Iverson

Gents;

I am finally in a position to purchase my dream C2 (providing I can find it). Over a bottle of wine with my wife, we discussed how to manage the car as an estate issue as we have two adult sons.

As I was about to uncork another bottle, my wife had an epiphany: the boys didn't graduate from HS in 1967 like I did, and they, as well as the vast majority of todays progeny, do not remotely share the interest in these cars with the passion we have.

So the conundrum is whether to buy at a premium price, assuming there will always be a market for these cars, or to invest elsewhere in anticipation of a potential value drop.

Your comments and mentorship are very welcomed.

Merry Christmas!

V/r

Iverson

Frankie the Fink

The average driver/#2 car is not an investment...that should make your dilemma easy.
Buy the car if you want to drive and enjoy it.
If you want to make money -- look elsewhere. A TON of threads here on the issue...

GTOguy

What Frank said. BUT: if you keep the car for a few years (say 10) you will almost certainly be able to make some money and keep ahead of inflation. And you will have enjoyed the ride. The values of these cars don't tend to diminish over time, unless they are neglected and deteriorate. Personally, I have never lost money on an old car. And all of them are 'driver' cars. Most #2 cars are thought to be 'Mint' by the general public. True mint condition, #1 cars are not driven. By the best car you can comfortably afford, and enjoy it. You only live once.

Frankie the Fink

At best they are an investment hedge - you won't make bank, but the values have been fairly stable for a good while (typical ups and downs though). Might give your investments a little diversification but my rule is no more than 5% of your net worth should be in such toys. BTW - I'm not an investment counselor so take my advice at your own risk...

SupremeDeluxe

I've never lost money on an old Corvette, but I never set out to make money with them either.

Life is short. You have been contemplating a midyear purchase for a very long time. A man can talk himself out of anything if he thinks about it long enough. At some point you have to move off center and do what will make you happy.

Frankie the Fink

Have some more wine and just buy the darn car!

ricks327

Well, as the saying goes, "It's 5 o'clock somewhere", bottoms up.

dcaggiani

Unless you want to buy a rare example of these cars, I agree with the other responses given.
Even if you purchase a driver quality Corvette as part of your estate, make sure to leave instructions with the estate so that your family knows what you have and where they can go to estimate the true value of the Corvette - if they decide to sell.
I hate to hear the stories of family members that do not understand what they truly have and either over estimate or underestimate the value of the cars. If the Corvette is over estimated, the car sits in storage neglected for years and deteriorates. If underestimated, the family will be prey to the Sharks looking to cash in on her.

Just my 2 cents.

SW Vette

"So the conundrum is whether to buy at a premium price, assuming there will always be a market for these cars, or to invest elsewhere in anticipation of a potential value drop."

Not sure it's quite so black and white. There are many possibilities that exist between the extremes, but most important in my estimation is that you do what YOU really want, as it seems to me that you've earned it. Get the Vette you've been dreaming of, have it properly appraised, throw it in the living trust, and start polishing that sweet little honey!!

Bluestripe67

Buy what you can afford, and enjoy it. It serves zero purpose to own one and rarely drive it. Things deteriorate, think of your body being stag net. That happens to these cars when they sit most of the time. If it leaves you stranded one time, especially with your wife in it, the tide may turn. Then you don't feel you can trust it and it up for sale. There are check book owners and then there are enthusiast who get things done with their hands. Your decision! Dennis

Frankie the Fink

The OP appears to live in Florida -- if so the benefits of a 'living' trust in this state are less than they were just a few years ago.... You can pass things along with the same protection now without the trust unless you are worth quite a bit of money...

64 Silver Blue

In the "for what it's worth" category, I bought a 1964 C2 roadster two years ago. Although I'll been into Corvettes since 1960 or so, this is my first C2. I retired in 2013, but was asked to comeback to work part time, and decided to use that "free money" to buy a C2. I found a 1964 roadster, arguably the least desirable and most affordable C2. It is a driver with no documentation and little original. The car was "freshened up" before I bought it and I loved what they did. I drive it all the time. I agonized over finding someone I could trust to work on it, but finally gave up and resigned to do as much work on it myself as possible. Both my wife and my son know the value of the car, and are car enthusiasts. I'm glad I bought it when I did, and only wish I had years ago when it would have been easier to work on for me.

dahogan

Either you want the enjoyment of owning, driving and maintaining a midyear or not. If not, invest elsewhere

Gary's '66

JMO but, there are much more lucrative investments one can delve into. So, you could either make another type "investment" and wring your hands as you watch it grow like Mr. Scrooge (pun intended, as it is Xmas ) or...... you can go buy something that may, or may not appreciate and, have sweaty palms as you row through the gears!

Your choice, but personally I'll take the sweaty palms anytime.

Gary

GTOguy

Buy the car, drive it, if you grow tired of it, sell it. The 'potential value drop' will not be a concern, unless you pay too much in the first place. When you can no longer drive or appreciate the car, sell it and put the money back into the estate for the kids. Easy-Peasy.

biggd

If you're buying a Corvette as an investment then don't. There are better things to invest in. Buy the car because you and your wife want to enjoy it. Chances are that when you pass, your kids will just sell it off to get their hands on the cash. And they won't care what you paid for it!

jasonsamara

Sit back, close your eyes and think ahead to one day next summer. The sun is going down and a nice warm summer breeze is blowing. The wife is in a great mood and you both feel real young again if only for that night. Now you can go check the stocks u invested in, and go hop in the daily driver and take her out for the night. Or you can go fire that bad boy c2 up, let the wife hop in and you both will feel like when you first met. Who knows you might get into a little trouble. You only live once!

capevettes

I think it's a mistake to make purchasing decisions based on your heirs and what they may inherit. As most have already stated, these cars should not be purchased as an investment. In my opinion, they are an investment in pleasure. You've worked hard your entire life and now you can fulfill a dream. JUST DO IT and enjoy it

Tearloch

I have never seen a stock portfolio get the kind of honks, waves, looks, casual conversations, and stares (from women way out of my league) as I get in my C1 Corvette. They may not be a great investment strategy, but they hold value. Also, it is hard to place a value on the enjoyment you get out of driving one of these bad boys around. It very hard to quantify that on a spread sheet, but it is the biggest reason to own one.

JUST DO IT!

GTOguy

Capevettes, you absolutely nailed it.