I agree.

 

Day one at Barret Jackson, it looks like it'd command a lot more than that. Hard to tell from a picture alone, but I think this is a bit on the low side.

 

To answer the OP's question.......

I don't think that the Vette market is "weak"..............my "noob" perspective from the last 3 months of research is that there are still "real" buyers out there willing to write a marker for the "good" cars.........

It is just that these buyers are not going to pay "crack money" anymore.....whether it be for the exceptional cars, or total rustbuckets. They'll still pay up, just not like they did in 2004-2007.

This is due to 4 things IMHO.....

1-the lack of "easy" credit related to residential real estate, or simply put, getting any credit at all. Taking credit buyers out of the market and leaving just the cash buyers reduces your pool by about 50-75%.

2-the depreciation inherent in C5's and the new C6 which is creating strong downward price pressure on older "collectible" cars.

3-the removal of price speculators/flippers from the marketplace. Even used Vette dealers who are market makers have had numerous sales with 25-35% off on some apparently nice C2 and C3's as of late........and not all of them are moving out the door either.

4-finally, and I think this is a big factor, I'm up to almost 150 hours of reading thru the threads here in the C3 section, and have learned more than I ever could have thru any other medium. Thanks to forums such as this, and the great people here, I can guarantee you that I won't be one of the few people still out there who are overpaying, and then posting here later on about how their car has such and such a financially catastrophic problem that they weren't aware of when they bought it.

 

Good writeup. I agree. I bought my 81 this past summer, I think I got it at what would be called a good market price. There were cheaper cars, but the more I read about some issues from others here, I have none of those and feel real good about my purchase. It is not perfect, but what is? Research was my key as well. Good points...I think the market will begin to flow again and the prices will increase as discretionary income is let go of, it may take a few years and some political changes, but it will happen IMO.

 

Geez. Wonder where that puts me?

 

Mike.......

I've got over 9,000 posts on Ferrari-Chat over the last 10 years I have been there........only my wife knows for sure what the total number of hours I spend online actually are, and I am too scared to ask her......why don't you ask yours, I am sure she knows ?

 

The green 70 vert sold on this forum was a great buy,and i believe the blue 69 is very fairly priced.

 

Maybe 30's is high if it needs a new paint job
and there is alot of junk out there
check the frame !

 

 

Judging by this photo, I would say this car was poorly taken care
of, I could only imagine what the under side of the car looks like.
I or any other intelligent buyer would not buy this car site unseen
and if the underside of the car is as tired as the engine compartment
you would be darn lucky to see $15,000 from this car.

Is that over spray in the engine compartment I see, if so just because
a vette has a newer paint job doesn't mean that it deserves top dollar,
I would ask what the newer paint may be hiding?

I think the market is very cold right now because no one is remortgaging
their homes any more to make an over inflated purchase, I think the
market will be like it is now for at least the next 6 to 8 years.

The current market will still bring good money to the cars that are in
great to excellent condition but for the cars that need restored the value
of them will continue to fall, I believe this to be true with all classics, not
just with corvettes.

Just my thoughts and how I would shop for a classic car now a days.

Riggs.

 

I look at the pictures of this car and find it hard to believe that by the time you're done it would not cost less to pay top dollar for a real nice done car even if you're near 40K. Based on these pictures this car is a money pit if you want to make it a really top notch car. As already stated 10K doesn't go far. One could only guess what the bottom of this car looks like (exhaust - brakes - suspension). What do you have to spend for the correct air cleaner? Will the A/C blow cold? I'm trying to see the potential this car has but I keep focusing on it's current condition and the dollars keep adding up.

 

i have an 81 that i am doing and i have over 7K into it and i have only done the suspension, brakes and Exhaust. 10K will not cover very much.

 

There's a sale pending on the '69 in question, but here is the link to the sellers website. Check out the 96 photos.

http://broadmoor-motor-sales.ebizaut...y-4992332.html

 

After seeing the pictures, I'm knocking my estimate down to $15k. While the interior looks like it could get away with just a carpet [edit: on closer look, it appears that the rest is quite worn, though the door-panels look fresh], the undercarriage would take a lot of work (presuming no rust in the kickups, which aren't clearly pictured), and a repaint would require removing whatever paint hasn't already chipped off on its own.

 

Amen on #4 brother.

 

This was a typical BJ sale: if you remember, the bidding for this car was batted back and forth between two buyers: the first bidder a fellow with his four buddies who had obviously been enjoying the free/cheap cocktails afforded the bidders. The second bidder was on his own and apparently didn't know that much about the Corvette market, but didn't want that ya-hoo and his buddies out-bidding him. I thought it was a lot of fun to watch, albeit not realistic for the market.

As for the car, the CORVETTE script above the license bezel looked to be missing with the holes glassed over, among other non-stock mods. Remember, cars ALWAYS look great under the lights on camera. Outside the circus that is BJ, I think the car was a $19k car at best. Unless you're pouring cocktails before showing it...

 

Thats what I need to find, a great buy with a good color combo. If anyone knows of a car like this for sale please post. I'm looking for a big block or small block with A/C and an automatic. 69 to 72 priced accordingly. Anything with red interior????? Like this car but in better condition.

Thanks

 

Shouldn't be pending anymore.

 

Right on the money