C-1's Resto Mods on Fire at Barrett Jackson!!!
01-21-2018, 10:55 PM
#21
Drifting
The resto mods with the more modern drivetrains,with LT4, LS3, LS7 motors and modern chassis are bringing strong money. Older resto mods with less modern drivetrains and motors like C4 LT1, C5 LS1 or carbeurated motors aren't as strong.
Down the road, these newer resto mods will become dated when superior drivetrains emerge and their values will also diminish.
One thing nice about an original Solid Axle or Midyear, is that it will always be the way it was made and there is a value to that.
Down the road, these newer resto mods will become dated when superior drivetrains emerge and their values will also diminish.
One thing nice about an original Solid Axle or Midyear, is that it will always be the way it was made and there is a value to that.
Historically correct cars will always go up in value while these modifieds are a current fad, only to lose value when the next fad arrives.Verne
01-21-2018, 11:21 PM
#23
Drifting
01-22-2018, 11:28 AM
#24
Race Director
Regardless of value or how much one pays, or over pays, an old style body with a modern, or more modern drive train is much easier, or at least less hassle, to drive. THAT is what drives resto-mods IMO, though obviously it has turned into a potential profit center for some.
My '37 Pickup, with its 327 and 4 speed auto, PS, PB, A/C, four wheel discs,a nd independent front suspension is a pleasure to drive. I doubt the same could be said about an 85 HP flathead with non-snychro 3 speed and cable brakes.
I didn't build it to sell it, i built it so "I" could drive it.
Doug
My '37 Pickup, with its 327 and 4 speed auto, PS, PB, A/C, four wheel discs,a nd independent front suspension is a pleasure to drive. I doubt the same could be said about an 85 HP flathead with non-snychro 3 speed and cable brakes.
I didn't build it to sell it, i built it so "I" could drive it.
Doug
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Fagunza (01-23-2018)
01-22-2018, 11:41 AM
#25
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Cars have been modified and changed since there were cars. There are all sorts of reasons and all sorts of flavors. Interesting to note that modified cars that were done in the '40's-'60's usually bring MORE money than stockers of that era, if you can find any left ('34-'40 Ford coupes, etc. ) Tastefully modified cars of quality will always hold some interest. The two that 'Not Red' just sold reflect that...very classy cars done in a timeless manner that ought to age well. Now, I've seen a bunch of Boyd-style Billet Easter Egg cars that are just the opposite: they look hopelessly dated, even compared to the stock version. Hellooooo 1992!
01-22-2018, 11:45 AM
#26
Team Owner
Irrational exuberance and irrational valuation = bubble....
Cars, real estate, stocks, artwork....
Calm down folks...you aren't gonna get 1/3 million dollars for your candy apple red 61 with a ZZ-4 crate motor and Hurst shifter...
Cars, real estate, stocks, artwork....
Calm down folks...you aren't gonna get 1/3 million dollars for your candy apple red 61 with a ZZ-4 crate motor and Hurst shifter...
01-22-2018, 11:51 AM
#28
Safety Car
I usually watch quite a bit Barrett Jackson, but the way things are going this year for restomods that really don't deserve that kind of money vs. original cars made me sick. I turned the program off. This reminds me of the democrats valuing the DACA's more than American citizens, and it sickens me. It may be me, but some people have screwed up values.
I think that it IS you, because I apparently have screwed up values, but I feel fine. BTW I’m NOT a Democrat, but comparing car prices to the dems political positions is ridiculous.
Last edited by mike coletta; 01-22-2018 at 12:14 PM.
01-22-2018, 12:59 PM
#31
Race Director
I would say he has a valid point.
When you buy a "new" Restomod, you are buying a "new" car, and if you drive it, or even don't drive it, it will depreciate, just like a new car does. Maybe not as much, but i sure wouldn't plan on it going up in value.
You are already under water when you buy at BJ or similar auction, you pay a 10% premium for the privilege of buying (and maybe overpaying) it at auction, plus another 8.4% or similar sales tax, at best, even IF you find somebody to pay $400K to buy the car from you, you paid $400K plus $40K plus $37K tax, and you just lost $76K.
Doug
When you buy a "new" Restomod, you are buying a "new" car, and if you drive it, or even don't drive it, it will depreciate, just like a new car does. Maybe not as much, but i sure wouldn't plan on it going up in value.
You are already under water when you buy at BJ or similar auction, you pay a 10% premium for the privilege of buying (and maybe overpaying) it at auction, plus another 8.4% or similar sales tax, at best, even IF you find somebody to pay $400K to buy the car from you, you paid $400K plus $40K plus $37K tax, and you just lost $76K.
Doug
01-22-2018, 01:14 PM
#32
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I would say he has a valid point.
When you buy a "new" Restomod, you are buying a "new" car, and if you drive it, or even don't drive it, it will depreciate, just like a new car does. Maybe not as much, but i sure wouldn't plan on it going up in value.
You are already under water when you buy at BJ or similar auction, you pay a 10% premium for the privilege of buying (and maybe overpaying) it at auction, plus another 8.4% or similar sales tax, at best, even IF you find somebody to pay $400K to buy the car from you, you paid $400K plus $40K plus $37K tax, and you just lost $76K.
Doug
When you buy a "new" Restomod, you are buying a "new" car, and if you drive it, or even don't drive it, it will depreciate, just like a new car does. Maybe not as much, but i sure wouldn't plan on it going up in value.
You are already under water when you buy at BJ or similar auction, you pay a 10% premium for the privilege of buying (and maybe overpaying) it at auction, plus another 8.4% or similar sales tax, at best, even IF you find somebody to pay $400K to buy the car from you, you paid $400K plus $40K plus $37K tax, and you just lost $76K.
Doug
Not to mention the fact that as I have stated previously I never want to be the guy in the room that paid more than anyone else for the car
01-22-2018, 02:51 PM
#33
The market for cars is changing. The crowd has more younger buyers with different tastes. The younger generation, in more and more cases, doesn't have the technical knowledge and skills to repair the older cars. In my opinion, that's one of the reasons why these resto-mods are growing in appeal.
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CorvetteMikeB (01-22-2018)
01-22-2018, 02:51 PM
#34
Safety Car
Options!! Options!! and even more Car Options!!! are driving the New Car Market today.
GM even applied for a car without a steering wheel for government approval. People are wanting even more in car technology...More people are wanting a modern Restro-Mod Vintage Corvette that IS NOW FUN TO DRIVE, Even the new 2018 Corvettes are loaded with options like a new Caddy and 88% now have automatic transmissions.
The new generation of classic car buyers is slowing changing more towards Restro-Mod cars and trucks.
GM even applied for a car without a steering wheel for government approval. People are wanting even more in car technology...More people are wanting a modern Restro-Mod Vintage Corvette that IS NOW FUN TO DRIVE, Even the new 2018 Corvettes are loaded with options like a new Caddy and 88% now have automatic transmissions.
The new generation of classic car buyers is slowing changing more towards Restro-Mod cars and trucks.
Driving anything that cost 400K would not be ‘fun’ for me unless it was on a closed track.
Last edited by colo63sw; 01-22-2018 at 02:52 PM.
01-22-2018, 03:07 PM
#35
Melting Slicks
The market for cars is changing. The crowd has more younger buyers with different tastes. The younger generation, in more and more cases, doesn't have the technical knowledge and skills to repair the older cars. In my opinion, that's one of the reasons why these resto-mods are growing in appeal.
Ed
01-22-2018, 03:17 PM
#36
Melting Slicks
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The market for cars is changing. The crowd has more younger buyers with different tastes. The younger generation, in more and more cases, doesn't have the technical knowledge and skills to repair the older cars. In my opinion, that's one of the reasons why these resto-mods are growing in appeal.
01-22-2018, 03:26 PM
#37
Racer
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I would say he has a valid point.
When you buy a "new" Restomod, you are buying a "new" car, and if you drive it, or even don't drive it, it will depreciate, just like a new car does. Maybe not as much, but i sure wouldn't plan on it going up in value.
You are already under water when you buy at BJ or similar auction, you pay a 10% premium for the privilege of buying (and maybe overpaying) it at auction, plus another 8.4% or similar sales tax, at best, even IF you find somebody to pay $400K to buy the car from you, you paid $400K plus $40K plus $37K tax, and you just lost $76K.
Doug
When you buy a "new" Restomod, you are buying a "new" car, and if you drive it, or even don't drive it, it will depreciate, just like a new car does. Maybe not as much, but i sure wouldn't plan on it going up in value.
You are already under water when you buy at BJ or similar auction, you pay a 10% premium for the privilege of buying (and maybe overpaying) it at auction, plus another 8.4% or similar sales tax, at best, even IF you find somebody to pay $400K to buy the car from you, you paid $400K plus $40K plus $37K tax, and you just lost $76K.
Doug
01-22-2018, 03:31 PM
#38
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Everyone has made some good points for both sides here in this thread.
The big thing everyone is forgetting is how many REAL buyers are there REALLY out there each year for old cars converted to modern technology that cost $150K and up? I know it is not affordable or of interest to me. It is just conversation to most of us here I think.
The big thing everyone is forgetting is how many REAL buyers are there REALLY out there each year for old cars converted to modern technology that cost $150K and up? I know it is not affordable or of interest to me. It is just conversation to most of us here I think.
01-22-2018, 03:31 PM
#39
The people buying them would have spent the money on a new McLaren/Lambo/Ferrari anyway and seen the same depreciation. At least with a C1 resto you are going to know which car is yours in the executive parking lot !
01-22-2018, 04:02 PM
#40
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