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I've bought Every Corvette I've ever owned (over 15) for one reason. I Like Corvettes, driving them, cleaning, wrenching on them every aspect of ownership...
I really don't care how much they cost or how much they're worth.
I think using televised auction results to baseline the value of real-life classic cars is a mistake. Particularly BJ....that is the absolute worse auction to base values off of, unless the car is a complete restomod. That's what I think. I also have seen prices rise in '53-'67 Corvettes steadily since I started watching the prices 40 years ago. Over time, the price only increases, as does the cost of restoration and materials to restore one. The highest dollar classics I have seen on BJ are the modified restomods, which can bring 3-6 times the price of a restored original car. If vehicle value/cost is a concern to you, consider getting into collecting/restoring/flipping GM pickup trucks from '67-'72. You can quadruple your money fairly easily, as rubes are lined up to buy these at 70-100k. At least at BJ they are....
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$70 to $80 looks light.... the ones I've seen are pushing $150 to $200K. More power to em.. I'll keep my stock driver.
Maybe chrome bumper C3 prices will get to a reasonable level. Everybody just assumed they were never worth anything so unmolested original motor cars are not all that common anymore.
Doug
Well seeing that I am not trying to sell my car, I would say prices are flat. When I am looking at Corvettes to buy it seems the prices spike sharply and when I am ready to sell they drop drastically.
I think there is still plenty of demand and I don't see it falling off in my lifetime. People may not want to pay big money for original cars but they sure lay down the bucks for nicely modified cars. We just saw Chris' beautiful 63 bring $300k and a 61 or 2 brought $300 as well. That doesn't look like flat or declining to me. I cerainly can't say why other very well done restomods didn't bring the numbers, they just didn't hit the buyers fancy. Oh and I'm with most of the others here I'm building mine for me. I don't care what it's worth to anybody else.
I've bought Every Corvette I've ever owned (over 15) for one reason. I Like Corvettes, driving them, cleaning, wrenching on them every aspect of ownership...
I really don't care how much they cost or how much they're worth.
We should be friends and neighbors. We would get along just fine.
Just my thoughts on this . . . I have a very, very nice 1962 300hp/4-speed, 64K original miles matching-numbers car. It is bone stock, and will stay that way as long as I own it. I bought it very reasonably about five years ago as a retirement gift to myself, and I drive & enjoy it, showing it at numerous local shows where it always does very well. My point is this: There will never be any more of these than there are right now - in fact, as progressively nicer and nicer C1's are turned into resto-mods, as the years progress there will be fewer and fewer "real" 1962 Corvettes, the way GM built them. This would seem to indicate that eventually the laws of supply & demand will see an increase in the value of nice, stock '62's. Now, if you are looking for a quick profit, a resto-mod is currently the way to go. As for me, I couldn't possibly care less about the car's value. What it's worth to ME is all that matters. The vast majority of the '62-based resto-mods I have seen do little or nothing for me - I admire the craftsmanship that went into them, but they aren't 1962 Corvettes any more. Sure, they are more drivable than my stock '62, but I have a C7 convertible for that. Driving my car takes me back to 1962, with all the sights, sounds and driving effort that entails. And I still think that's not only worth something, but will be worth more and more as the opportunities to find such experiences becomes rare and rarer. Anyone can build a modern-looking '62 Corvette - or have it built for you. Heck, you don't even really need a donor car any more. Just build one off the shelves. If that's your thing, go for it.
There might be 3% of people that can afford a Restomod. I would think 20% that can afford a C2 BB or not. Come Spring prices will be right back up there.
Worrying about stock or not, values wont mean a thing when we arent allowed to drive gas cars anymore then what are they worth? Think about it, its coming right now.
Even if it didnt please show me the younger generation that has the interest/$ for them. Who has even seen one in public? We are the dinosaurs lol
Go get behind the wheel and drive that thing. Jeez....mine sat for yrs due to health/logistics. Still hard to get out and do but every chance i get.
So it gets damaged, stolen? Ok thats what insurance is for, same can happen sitting in a garage.
Been out trolling for GTG cruise nights, old cars, NOTHING at all period. Guess they are all on the internet arguing about waxing their hope diamond..missing out!
Your kids and wife are just going to fire sale it soon as were planted so whats the saving it bit for? Really.....
Just an opinion but the majority of todays buyers have already been there done that. If they can get it at a price they feel is right which isnt the inflated dream $ they may pick it up...if they can flip their way out of it.
Youngsters today if they had 40k or more laying around will probably buy a Challenger, Camaro,. LS based car. They do more, reliable etc.
For the long timers, if someone say really offered you 50 or 60k for your car would you truly feel good about selling it if you werent "getting out of the hobby"? Then what, another one..
Well seeing that I am not trying to sell my car, I would say prices are flat. When I am looking at Corvettes to buy it seems the prices spike sharply and when I am ready to sell they drop drastically.
I thought that I was the only one to experience this
As was already stated the collector car market is just that a market, cyclical with ups and downs. One thing that i think we should consider just for arguments sake is the simple fact that the cars that will follow long term appreciation with a few dips and rises will tend to be originals or high end restorations. Restomods are a trend and what the taste of a future buyer may be will likely be different 10 years from now. How many did we see cross the block that already look dated? Remember when high dollar "Boyd" cars brought all the money? Time will tell if the investment into a high end build will be just that, an investment. Honestly if I had the coin to throw down I could care less about the market, what its future value will be, if I over paid etc.etc.etc. I would by what I want and not care. I also think we may be undervaluing the cost that some of these high end builds take to be commissioned and built. My sister is the Senior Marketing "something" for a major automotive paint company who has several custom lines catering to these builds. She handle the major shows like SEMA and Barrett/Jackson and GETS PAID to go to them. Yes, I am seriously jealous. I was at Sema with her and met several of the builders who she sponsors. The cost of materials alone can go well north of 10k, not to mention the hours involved. None of the builders I met struck me as making a killing on building these cars. One mentioned hoping he at least breaks even so he can fund the next build and yes, contract other builds.
I'm 49, my 62' will stay my 62' until I die. Then my kids can decide what to do with it. It may be that by then, the Marxist noobs in congress will have their fascist utopia society devoid of fossil fuels and it wont be worth a dime. My grand kid's can restomod it with left over Tesla parts.
I've been to these auctions and have seen these cars up close. Most do not look like top end restorations. (All makes & models). With the lighting and detail spay, and a fast moving camera at distance, they look way nicer than many are.You can't judge the price of a car series by a single sale.
The knowledge of the buyers runs the full range, from zero knowledge to expert. Because someone buys it for X dollars doesn't necessarily mean then know much about the car and vice versa.
There is a much larger variety of cars for buyers to choose from.
Resto mods, who knows what the resale value will be. Maybe great, maybe not. It's a custom car that may or may not handle well, run well, etc. Who here would pay top dollar for a flared, C1 with a mid 80's TPI motor, 5 speed, caprice disc brakes, pioneer trunk mounted CD changer and early 90's teal paint. Just sayin'. I'm not opposed or offended by a resto mod, do what you want to your car.
If I want a car that drives like a new car, I'll buy a new car. Values change, the market is what it is on any given day.
Last edited by dual quad 59; 01-20-2019 at 09:49 PM.
Welllllllll - I have a couple of measures I look at regularly - we can call them the "Scooter Score" and the "Gawk Grade"....
Go to any prestigious car event anymore and the numbers of aged enthusiasts has increased out the ying-yang; the number of young people engaging in the hobby is pathetic IMO. I'm talking gross numbers so spare me the story about your 13 year old who just loves your car (and may not in 5 years) or the one-off, neuvo-rich 20 something tech start-up owner who is buying a toy... I'm talking legions of up-and-coming classic car aficionados - well, they aren't there... Our cars aren't symbols of youthful independence and a way to get laid anymore (well not much anyway).
Then there are the number of people that ogle our classics when we are out and about. 12 years ago my 61 was a guaranteed show stopper. I couldn't leave a restaurant or gas station and not find an impromptu photo session taking place by spectators. Now, I can sit beside 10 cars in traffic and everybody's head is buried in their cell phones. A rare "thumbs-up" (usually by an older person) is a treat now..
So where will the future demand come from for pumping up our cars' value ? Maybe the restomod crowd ? Maybe.
And this doesn't even count the waning interest in personal car ownership..... There are growing segments of the country where Uber and Lyft are mainstream means of transportation and self-driving cars aren't gonna be a hoot to run around in either... A "sea change" is coming.
Then there are the diminishing experts (specialists) that maintain original components. 1/2 of the Maxwell team is gone (C1 wipers/washers/etc), Pirkle is out (voltage regulators, etc), Jerry Rudbeck (I may have the spelling wrong - but -- radios), Bob Kunz has throttled back but now I hear he is still taking in work (WCFB and other carbs), Bill Harrison has hung up his shingle (instrument and cluster restoration), Andy Cannizo is making noises about retirement and no longer does certain jobs like rocker panels (63 shifter consoles, etc.) Grossmuellers is all but non-existent now... One could argue that this makes cars with original, working parts worth more but will be an anathema to future owners that may want to drive and maintain them...so -- maybe not.
I am down to one car and although I look at other classics now and again, in this evolving culture and at age 68, if I can't steal something extra - its not happening...
I'm just sayin'
Last edited by Frankie the Fink; 01-21-2019 at 09:16 AM.
Welllllllll - I have a couple of measures I look at regularly - we can call them the "Scooter Score" and the "Gawk Grade"....
Go to any prestigious car event anymore and the numbers of aged enthusiasts has increased out the ying-yang; the number of young people engaging in the hobby is pathetic IMO. I'm talking gross numbers so spare me the story about your 13 year old who just loves your car (and may not in 5 years) or the one-off, neuvo-rich 20 something tech start-up owner who is buying a toy... I'm talking legions of up-and-coming classic car aficionados - well, they aren't there... Our cars aren't symbols of youthful independence and a way to get laid anymore (well not much anyway).
Then there are the number of people that ogle our classics when we are out and about. 12 years ago my 61 was a guaranteed show stopper. I couldn't leave a restaurant or gas station and not find an impromptu photo session taking place by spectators. Now, I can sit beside 10 cars in traffic and everybody's head is buried in their cell phones. A rare "thumbs-up" (usually by an older person) is a treat now..
So where will the future demand come from for pumping up our cars' value ? Maybe the restomod crowd ? Maybe.
And this doesn't even count the waning interest in personal car ownership..... There are growing segments of the country where Uber and Lyft are mainstream means of transportation and self-driving cars aren't gonna be a hoot to run around in either... A "sea change" is coming.
Then there are the diminishing experts (specialists) that maintain original components. 1/2 of the Maxwell team is gone (C1 wipers/washers/etc), Pirkle is out (voltage regulators, etc), Jerry Rudbeck (I may have the spelling wrong - but -- radios), Bob Kunz has throttled back but now I hear he is still taking in work (WCFB and other carbs), Bill Harrison has hung up his shingle (instrument and cluster restoration), Andy Cannizo is making noises about retirement and no longer does certain jobs like rocker panels (63 shifter consoles, etc.) Grossmuellers is all but non-existent now... One could argue that this makes cars with original, working parts worth more but will be an anathema to future owners that may want to drive and maintain them...so -- maybe not.
I am down to one car and although I look at other classics now and again, in this evolving culture and at age 68, if I can't steal something extra - its not happening...
I'm just sayin'
I agree with some of your observations. Usually when I go to a corvette show or cruise in I am the youngest (49) with the oldest car. Sure there are exceptions. But on the flip side there are a bunch of guys in their 20-30's who are all over youtube with high horsepower late model corvettes, camaros etc. Many more are into big diesels with stupid wide rims and crazy horsepower. What are the big three building? Trucks and Musclecars.
Yes there is a generational change and a perception that cars are no longer as important as they once were. There is still a vibrant enthusiasm amongst younger generations. I think we assume they should revel in what we found important. Go to a multitude of events like a no-prep, or independent late model racing event and you will find a wealth of "youngsters" who have done some amazing engineering and have some amazing skills. The hobby is not dead, it is changing.
The hobby doesn't do itself any favors either by shunning what the younger generation finds interesting at local shows and catering to the "persons of a certain age" with DJ's that haven't heard they made music after 1972.
Once again the sky is falling! Wonder why the big three are still making the Charger, the only car Ford is going to build I think is the Mustang, the Camaros, and the very expensive Corvette. They apparently think they still have a market. How many C1s and C2s are left? If there are 15-20,000 C1s left it doesn't take much of a market to want them all. I love seeing them all wether original or modified and at 62 they aren't going to expire before I am. Last year we did have a few guys in the local Chevy club come over at a cruise in and ask if we wanted to join, they said we need some younger guys. See the part where I said I'm 62.
This is how I believe it works but I'm not an economic expert...the pendulum tends to swing back and forth.
The good news is there's always a strong interest in these cars in one way shape form or another whether they're mods, original stock or daily drivers.
The millennials like resto-mods... so in order to meet the demand, the amount of vehicles getting modded increases, which means the remaining amount of original stock builds decrease... which theoretically means they should ultimately bounce back up in value based on the market concept of supply and demand.
The duration of this cycle and how much of an actual impact it makes on value remains to be seen.
01-20-2019, 03:44 PM
