Is there a general consensus on how long we can expect the values of our Corvettes to stay strong? I was talking to a reputable person in the Corvette scene here in Houston and he’s the first person to tell me something I’ve been thinking for a while. He told me a story of a guy commenting on a mid-year. The guy said “If this car is worth $80K now, imagine what it will be worth in 30 years!” He replied “In 30 years I don’t think this car is going to be worth **** because there won’t be any demand for it.”

I have to agree. At 45 years old, I feel like I’m the last generation who really cares about these cars and muscle cars in general. I can’t see the value of our cars going anywhere but down.

What are your thoughts?

 

There are so many factors that come into play. From nostalgia to art to Americana to whatever. There is a segment of the population that may surprise us with their desire to own. I once wanted a Tucker or Cord. I thought if I waited for the previous generation to wain interest I may be able to afford one. It didn’t happen. While the previous generation has continued to diminish the interest for those cars has not. Those cars are worth even more today.

 

This very topic has been the subject of much discussion and many threads on this Forum. Value is subjective. Some owners/dealers buy and sell corvettes on a regular basis and don't really care about the cars themselves; only the profit margin they might make on the next deal. Some owners have inherited their cars from a relative who has died and left it to them. Those new owners may eventually fall in love with the car and keep it or they may sell it if there is no love and all they see are dollar signs. Or perhaps they had admired it greatly as a little kid when "Uncle Jack" was still alive and always wanted it. Then there are those of us who were completely blown away as a kid or a teenager when we first saw (usually driving by us) a corvette and vowed to someday own one. I fall into that last category.

I firmly believe that the look and the feel (of driving it) of a corvette is timeless and many who are yet to be born will fall in love with them (as I did) and buy one when they can afford it. They are not the type of car with a countdown clock to the scrap yard (think Ford Fairmont) as soon as they are built, but ones that tend to stand out in the crowd and span generations. I believe that Corvettes will always hold their value (both literally and figuratively) as time marches on. The literal values will fluctuate but the love will always be there and so the Corvette will endure.

Very often when I take my car to a large car show (think 400 cars plus) teenagers and young men (and women) in their 20's stop and stare at my car in awe and ask questions that only potential future buyers would ask. Yes the value is there because the interest is there. IMHO C.J.

 

People are too obsessed with the future values of these cars, they are comparing them to the model A’s poor value because the age of the people who bought them new and have little value today.The C2 is in a world of its own. They seem to be loved by young and old and always have. But yet the same people who are worried about value buy a $80,000 new car and in 3 years it is worth nothing. Look at where this car has come from $3,800 new to $50,000 to $150,000 depending on options. No one can predict the future, but don’t count it out. I don’t see the same growth but I don’t see a decline.

 

These threads are useless conjecture.....I couldn't care less if my car is worth a cool million dollars in 30 years or is stuck in a dusty transportation museum beside a Conestoga covered wagon as a relic...

So I don't bother with opinions by a "....reputable person on the Corvette scene" (is this like the famous "unnamed source" in the media?) or his stories about a third party's comments...

 

I got my drivers license in 1967, therefore I like cars of that year and era. I think that's the way it goes.
That said; the demand for older cars is usually created by the generation that grew up with, and were impressed by those cars of their youth.
With that being true, the demand for these cars should die off when the older folks die off.
However, when I put my '67 in a car show, the attention it gets from younger adults is overwhelming, so all of that generational speculation may not be true after all.

 

I agree with that, I own my cars for my satisfaction, not for investment purposes.

 

A couple of recent experiences:

1. I'm driving my car and coming up behind a very young little girl (2 or 3 years old) who's walking along holding her mother's hand. The little girl hears my car and turns around. Her mother tugs on her hand to get her to move along. That happens a couple more times. The last time she turns around as I get close, she shoots me a big smile and gives me a thumbs up.

2. New neighbors across the street have a 6-year old boy. I took my car to the cul-de-sac at the end of the street so my wife can take some pictures. The little boy comes up on his bike and asks me if the car is a Corvette. I was floored that he would know that. Then he proceeds to tell me he likes Lamborghinis and Challengers. Again, this kid is 6. I bought a Corvette cap to give to the young "car guy" and am going to take him for a short ride in both Corvettes. I've already gotten the OK from his grandmother but I need to talk to his father before I do this.

That's the future of these cars.

You have to get these cars out of the garage and drive them so people can see them. They can't develop a desire for them if they never see them.

Steve

 

Cars are typically a poor performing part of an investment portfolio. If one is wealthy and can set aside Ralph Lauren/Jay Leno quality type cars then you might make money on the select top ones. Certain cars have taken off price wise from time to time while others have fallen flat. Overall, cars have performed far worse than a low cost index fund over the last several decades. So there's that. In short, don't build your estate on cars. May be better than Lionel trains, Beanie Babies, Longaberger (sp) baskets, or other so called collectables, but worse than precious metals.

As an investment in pleasure, that's impossible to quantify. It may or may not be cheaper than boating, golfing, a fine scotch collection, etc. In this case, it may have residual value., i.e., the resale of the car. However, on an accounting accrual cost basis of parts plus labor, you may not break even - your time being worth something.

Overall, will you make money on your Corvette? Short answer: Maybe.

 

A future owner perhaps?

Thanks Rat Dog. Nice to hear those little kid stories. With that in mind I thought I would include the attached picture.

At a car show recently a little kid and his family came walking by. The little kid was enamored with my car and said that he had never seen anything so beautiful and insisted to his parents that he wanted to sit and draw the car so he could take the picture in to school and show all of his friends and the teacher. I guess the little boy was pre-cell phone picture phase. I thought it was cute and put the hood down for him so he could draw away. Perhaps we are looking at a future C2 owner whose only "value" is the love in his heart. Enjoy. C.J.

 

While at car shows, I always ask parents of small kids, if the kids want to, they can sit in my car. That usually follows with a picture taking session. My hope is that that will excite an interest in the young ones.

 

As a corvette owner 1967 big block,.
Two 63split windows,1975,1980,1967 side pipe car 1989 6 speed ,2007Convertabe and a 2008 Z06 .
Let the corvettes work for you enjoy drive ,drag strip ,car shows .
Only losing money on the 2007 thru depreciation .

Not being rich enough to keep or store these cars ,Sold then to move on to RVs addition for house and fun stuff ,and different less expensive
toys like pick up trucks.
When it gets to the point where they sit most of the time they become work.
I drive 2,500 miles every year sine 1990 on all the corvettes, They were part of my life for years. Could only afford 1 at a time raising children.

 

The flatbed driver that picked up my car recently was probably in his late 20’s. He went nuts for the car. He took a video of it being loaded on the flatbed and then did a 360 to get the whole car. If that’s any indication of the next generations interest...I’m good with that.

 

(Sighs and posts again)

i am 39, and all my friends think my old cars are cool but none of them are ponying up $30k to start to own one. And they can afford it. Even car friends have different interests. And why not? You can buy a c7 and soon a c8 or a Hellcat or an R8 or an M3 or, or, or... it’s a new golden age of performance.

None of these Sting Rays are headed for the scrap pile but demand is going to fall and so is (relative to inflation) pricing.

As for the Cord- this isn’t a Cord, or a J Duesenberg. Or a D-type jaguar. We own a mass produced Chevy. Lots of supply and more to come on the market.

Why worry? Still a better deal than a new Corvette and so much more fun. I doubt very much when I lay down to die if I’ll care if my Corvette made or lost money, but I may remember some good times I had in it.

 

I don't see midyears losing future value. The younger generations know what they are and desire them, just can't afford at this stage of their lives. So don't knock the young "tuner" guys. Most are cool and wrench on their own cars with the budget they have. They appreciate and would love to own my midyears and muscle cars one day.
Suprises me that young kids and teenagers know it's a Sting Ray.
Another factor is supply and demand. There is only a finite number of these midyears and some are going to overseas buyers to never return.
Drive em!!

 

I never knock the tuners. Brilliant guys out there, but I haven’t met one import tuner who said they want my Sting Ray someday- even at track days when I’m actually doing something they respect with it.

Not one.

And if the import tuners were waiting for prices to come down, why isn’t the forum populated with 25% 30 and 40’s somethings. Polls run here every year that show the aging of the demographic. 40 somethings I know can have them- they aren’t waiting to buy boats and modern hot cars and take trips and buy massive homes. They just don’t want midyears like people who remember them new or nearly new.

If if you don’t remember them new or nearly new and no one gave you a STRONG impression early in life for them like I got chances are you won’t be a buyer at anywhere close to today’s prices. Supply isn’t the number of cars available it’s the number of cars on the market- and that number is about to increase dramatically. This forums shows you that as a certainly.

I do agree- drive them.

 

One car, one buyer. It only takes one. Keep your car looking good and performing properly and yours may be the one.

In the meantime, just enjoy it and drive on. Stop worrying about something you can’t control.

 

In the past 20 years the Classic Car Market has fluctuated several times. At one time if you had a solid, good condition, big block C2 you were looking at $125,000 at every auction. Then it dropped to under $90,000. Factory Hemi powered Mopars were bringing huge money. Then they dropped. Now it appears the market is back up. No one can predict legitimate future values. If that’s your biggest concern don’t buy a Classic Car. It isn’t an investment. It’s a used car that you should enjoy by driving it.

 

I agree with this and I am the perfect example.

Last month I sold my Mercedes S coupe that I had owned for a year and put 5K miles on. I lost $30K (imagine what I would have lost if I had put some real miles on it)!

I took the Mercedes money and bought a 65 Vette (it was almost $ for $ what I got for the Mercedes). If I had held the Mercedes for another year I would have probably lost another 20K. I doubt that will happen to the Vette. So if you look at it another way, in 3 or 4 years I will have gotten the Vette for free!

There are many ways to look at “values”. This kind of math is much more relevant to me personally than trying to figure out what the car will be worth in 30 years (I can certainly guaranty you that the Mercedes will be worthless far before then).

 

" Investors " worry, hobbyists enjoy. Decide which camp your in. The get rich price inflators ruined the hobby eliminating the average person from owning, driving, showing, enjoying GMs favorite classic. Promoting vintage Corvettes like a gold stock will never endure time. Another fancy will catch their eye moving on to supplement their wallet.