am thinking of selling my 68 vette- how is the selling environment and prices on the vettes at this time?

Thanks
ed

 

In my opinion, the selling market is still soft but having a small resurgence. Going into the silly season (Holiday's) makes it that much softer for the obvious reasons. The flip side of this issue is that as a buyer, you may find a few deals from a seller whom simply can not wait it out until the first of the year / springtime. Coupled with the above statements...it really depends on your car, its condition, options, etc, etc, etc....If, its a super nice matching number's vehicle with all the right amenities, paint, options, interior etc, etc, etc....You will find a buyer, if you have priced it right...but don't hold your breath and check your for sale ad every 20 minutes. Just my 2 cents worth...hope it helps.

 

I would not sell a car in this market unless I was also buying in this market. If you can wait until the economy recovers, the cars will also rebound.

 

I feel there has been a semi permanent re-adjustment of prices for
all muscle and classic cars. That is not to say that in 20 years
it won't surge again.

 

I agree with this. It's like the housing market, there will be no real recovery for several years at least IMO. The loose credit days drove prices up, and created "non-real" demand in the form of folks who previously couldn't get credit suddenly being in the market to get a house. This resulted in overbuilding relative to the real demand, and now that we have flushed out the non-real demand, we will have to wait for the real demand to grow (at about 2-3% per year) to suck up the overbuilding before any real price recovery will happen.

I see the same thing in the classic car market. Non-real demand was generated in the loose credit days by allowing folks who couldn't otherwise afford a classic to buy one, as well as bringing potential buyers into the market who weren't really interested in cars as a passion, they just thought they could double their money in a matter of a few years because that's what they heard everyone was doing. So when the bubble burst, demand dropped suddenly and substantially, and I don't see any reason why it will increase dramatically anytime soon, while supply has remained relatively constant.

I think that relatively few "car guys" are going to get badly hurt by all of this. I bought my car at what was either the peak, or the early part of the downslide, and I am sure I overpaid relative to today. I don't really care, since I want to own long-term, and even if I lose interest in this particular car, my sale price will be down but so should my buy price on the other end. Folks who have been in the hobby long-term and decide that they are ready to move on to a different hobby, will get less money than they could have 1 1/2 years ago, but they probably paid less too as they would have bought before the big run-up. Only the flippers really get badly burned on market fluctuation IMO, although some real folks will get nipped some here and there.

 

I can certainly say that prices are down as someone who has been actively looking for the right car. The one down side as a buyer is that fewer cars seem to be for sale as people don't want to sell low. I have had a lot of cash in hand for some time, but haven't found the car I'm looking for. Oh well.

 

Maybe, the above replies have gotten a little too heady for you...so let me say this in plain english, without the above.

1. Decide on a price that will make you happy or whole.

2. Advertise it well, with an accurate description. The more exposure the better...including Ebay and other's....not too many buyer's in here....but,... a lot of critics. JMO

3. Take exacting (close-up) photo's of your car to show its true condition (all area's) and place them in your ad. If, you do not have a nice camera, get one.... or ask someone to lend their's or take the photo's for you.

4. If, you get to the point of a couple of hundred dollars apart on a serious offer / buyer....don't dicker...take the monies and move on.

5. No one here has a crystal ball, so if, you want to sell your car....roll the dice and see what comes up....You don't have to sell it if you don't want to....please remember that!

 

That speaks volumes for this whole economy thing. It's a lot less painfull on the wallet when you do both sell and buy in a depressed market.
On the other hand there is always the chance you will find the right buyer who has had the money put aside waiting for the right car to come along.

 

if the market is so depressed on these cars where are the great deals. im looking for CHROME BUMPER VERT, 4 SPEED that has original motor in great shape and cant find a so called great deal.

 

America is on sale...houses, new cars, old cars; it doesn't matter what!!! NOW is the time to buy, if you can afford it. I am filling up my garages when I get back from Baghdad!!

 

I have been a high end car dealer for 20 years........right now it is my opinion, just like that of PKguitar and crossram, that the heady days of stupid money driving Barrett Jackson and destroying our hobby have ended. Thankfully........witness the $1.2MM Chevelle (BJ auction 2006) that just sold for $264K....again, at auction, and $164K too much at that.

IMHO this is semi-permanent......and by that I mean we'll see depressed prices for 2-3 decades at least. It usually takes that long for the malaise to wear off, a new generation of greater fools to be created, and things to return to short term boom times. Asset bubbles are driven by demographics and economics, and right now, both of these factors are going against the owners of collectible cars.

Consumer credit is gone the way of the dodo, unless you don't need it, then the bank is there for you "of course", and from the demographic side, most of the people who could have afforded to pull the trigger with cash for these things are now prepping for retirement, either outright in 2-5 years or trying to recoup their losses in the stock and housing market and retire in 10+ years.

This is either good or bad, and it is obviously depending on whether you are a buyer or seller. Most C3 prices are off by 50% IMHO......so they are where they should be, and there is no going "back to normal" for many car collectors and their favorite brands, because those higher prices of 2005-2007 just were not normal. Which is why I have entered the market as a patient buyer........who joined here to refresh my Vette 101-C3 diploma.

There's no rebound to wait for as TARP money does not exist for our hobby..........

 

if most c3 prices are off 50% where are they? ill buy a few. all the ones i see are still priced pretty good and im looking everywhere. so lets see, im looking for a 69 thru 72 vert 4 speed with a 350. really nice shape was around 20 to 25k. that means i can get one now for 10k. dam ill take 5.

 

Lotsa $15K cars out there now listed for sale that used to be high 20's or even $30K.......of course, condition rules the day, and no two used cars are alike.

Just one guys opinion, and who knows.......but I wouldn't have entered the market if I didn't think they had dropped. Here's one that just sold.......a 4 speed vert.

http://forums.corvetteforum.com/c3s-...ornia-car.html

This would have been a $30K car in my market up here in Canada 18-24 months ago. Still is if you look at these ads.......

http://www.autotrader.ca/used_cars_C...ributes=photos,,

http://www.autotrader.ca/used_cars_C...ributes=photos,,

 

The collector car market is no different than any other...driven by the same forces of supply and demand. Look, we aren't talking Model Ts or Bugattis, Bentleys or Ferraris here...we're talking about C3 vettes. American muscle...raw power, speed, styling...and there are fewer and fewer collectible ones every year. After the all-knowing Al Gore and his ilk succeed in forcing the general population to zip around in electric puddle-jumpers, there will be an even greater demand for these cars. How can you say that $50K today for a 40 year old collector car that originally sold for $5K is foolish? The value of the US dollar has declined by at least that amount. A restoration can cost $50K, or more. Wait until the bill comes due for all these Obama Bucks that are being issued. Hell, the average C3 might sell for $500K when a loaf of bread costs $50.

 

i recall the 1st one that just sold and it was a great deal but if it had original motor it would be over 20k still. im not doubting prices are down but i think there down maybe 15%. more if you find someone who is selling that just lost there job. JMO,NUTSY.

 

QUESTION:
?????
what are you selling ? a POS ? or a serious car ? a POS is a POS no matter what the market.............a serious car can be hurt during market turn downs & are sensitive to the economy.............!!!

 

Here's just one glimpse of the market, along with a few data points, from a relative Vette newb (me) and total outsiders POV.......

You've heard of "Proteam" I imagine, look at the their latest "sale".....there are 20 C3's listed and 50 or so C2's....with between 20-42% discounts on many of them. It is their third big "sale" this year.......

The argument can be made that his prices were maybe too high to start with, I don't really know, as people here who own comparable cars would probably beg to differ, but nonetheless.......it is a data point. Just sayin'.......so let's see what the future holds as it is all perception anyways. What I am looking for is definitely not what he is selling.