Has anyone ELSE noticed???
Thread Starter
Burning Brakes
Joined: Oct 2009
Posts: 782
Likes: 1
From: Magic Valley ID
Has anyone ELSE noticed???
Is it me, or has the downturn in the economy thrown the value of just about EVERYTHING into the toilet?? I'm seeing Corvettes for sale locally on Craigslist for dirt cheap...and no one is buying. I was looking to possibly trade my 80 for a Harley (since I have another Corvette left to play with) and people are needing the money more than "trades"...and the stuff that IS for sale, is not moving at all. I sure hope this all changes soon!
Deja
Deja
Drifting
Joined: Apr 2009
Posts: 1,345
Likes: 0
From: Melbourne Australia
It makes it a good time for people from other countries to buy vettes from America, as your prices are so low compared to that of the prices in Australia. The only problem is that they have just changed the laws here so now it makes it almost impossible to import anything that is modified!!!
Instructor
Joined: May 2010
Posts: 236
Likes: 0
From: Camden NY
St. Jude Donor '10
Is it me, or has the downturn in the economy thrown the value of just about EVERYTHING into the toilet?? I'm seeing Corvettes for sale locally on Craigslist for dirt cheap...and no one is buying. I was looking to possibly trade my 80 for a Harley (since I have another Corvette left to play with) and people are needing the money more than "trades"...and the stuff that IS for sale, is not moving at all. I sure hope this all changes soon!
Deja
Deja
The appraisal that was done in 2007 estimated a value of ~ $12K and I got it for $9K.
Good luck on the Harley!
Bob
Melting Slicks
Joined: May 2009
Posts: 3,079
Likes: 314
2024 C3 of the Year Finalist - Unmodified
Is it me, or has the downturn in the economy thrown the value of just about EVERYTHING into the toilet?? I'm seeing Corvettes for sale locally on Craigslist for dirt cheap...and no one is buying. I was looking to possibly trade my 80 for a Harley (since I have another Corvette left to play with) and people are needing the money more than "trades"...and the stuff that IS for sale, is not moving at all. I sure hope this all changes soon!
Deja
Deja
Burning Brakes
Joined: May 2007
Posts: 1,042
Likes: 1
From: Greensboro NC
I think a lot of this has to do with prices being over the actual value as well. Sort of like the real estate market...
Some of the asking prices are completely crazy!
1. People advertising a car in a junk yard as being a "rat rod", and asking 5K?
2. People advertising a 100k mile beater with rust issues, ragged interiors, etc, etc, for BIG money?
3. A car that needs a 20K investment to make it worth all of 12K?
Way to many people with delusional ideas on values out there right now...
People have been buying these cheap craprods, putting a grand in them, and then fully expecting to sell them for a huge profit.
This too has come to an end. When even the KBB value is well below what you're asking, it should be a good indicator that you're all wet.
KBB values have historically been too high, so that should make some people think, but it apparently doesn't....
Some of the asking prices are completely crazy!
1. People advertising a car in a junk yard as being a "rat rod", and asking 5K?
2. People advertising a 100k mile beater with rust issues, ragged interiors, etc, etc, for BIG money?
3. A car that needs a 20K investment to make it worth all of 12K?
Way to many people with delusional ideas on values out there right now...
People have been buying these cheap craprods, putting a grand in them, and then fully expecting to sell them for a huge profit.
This too has come to an end. When even the KBB value is well below what you're asking, it should be a good indicator that you're all wet.
KBB values have historically been too high, so that should make some people think, but it apparently doesn't....
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Le Mans Master
Joined: Oct 2000
Posts: 6,362
Likes: 30
From: Oak Harbor WA
I think a lot of this has to do with prices being over the actual value as well. Sort of like the real estate market...
Some of the asking prices are completely crazy!
1. People advertising a car in a junk yard as being a "rat rod", and asking 5K?
2. People advertising a 100k mile beater with rust issues, ragged interiors, etc, etc, for BIG money?
3. A car that needs a 20K investment to make it worth all of 12K?
Way to many people with delusional ideas on values out there right now...
People have been buying these cheap craprods, putting a grand in them, and then fully expecting to sell them for a huge profit.
This too has come to an end. When even the KBB value is well below what you're asking, it should be a good indicator that you're all wet.
KBB values have historically been too high, so that should make some people think, but it apparently doesn't....
Some of the asking prices are completely crazy!
1. People advertising a car in a junk yard as being a "rat rod", and asking 5K?
2. People advertising a 100k mile beater with rust issues, ragged interiors, etc, etc, for BIG money?
3. A car that needs a 20K investment to make it worth all of 12K?
Way to many people with delusional ideas on values out there right now...
People have been buying these cheap craprods, putting a grand in them, and then fully expecting to sell them for a huge profit.
This too has come to an end. When even the KBB value is well below what you're asking, it should be a good indicator that you're all wet.
KBB values have historically been too high, so that should make some people think, but it apparently doesn't....
I scoff when I see an add that lists the value based on KBB numbers.
Burning Brakes
Joined: May 2007
Posts: 1,042
Likes: 1
From: Greensboro NC
Here's a perfect example of the delusional crap that people are putting up for sale.
http://greensboro.craigslist.org/pts/1801115307.html
This is something that isn't worth $5.00....
http://greensboro.craigslist.org/pts/1801115307.html
This is something that isn't worth $5.00....
Racer
Joined: Apr 2010
Posts: 486
Likes: 108
I sold a bunch of stuff on ebay last year, including Corvette parts and I felt like I was giving most of it away. Nothing got the bidding up where I thought it should be. Then there is the housing. It's not that the houses for sale in my neighborhood are overpriced, it's that nobody's buying. The guy next door has dropped his price 40k and still nothing after at least 6 months. He'll be selling it for less than he paid 7 years ago pretty soon.
Melting Slicks
Joined: Apr 2006
Posts: 2,084
Likes: 14
From: Airdrie Alberta
see this in all fields, collections, antiques, stereo gear, you name it....
I was trying to sell my 07 PT Cruiser and my 05 Ranger pickup earlier, i felt the price was pretty decent and I didn't get a single call on either vehical.. If I run them through the auction I will get peanuts, may as well drive them.
Wish I had some spare cash cause there are some smoking deals on muscle cars, rods, Vettes etc
Le Mans Master
Joined: Jun 2007
Posts: 7,666
Likes: 1
From: Where it's always hot as Hell-South Louisiana.
St. Jude Donor '07-'08-'09-'10-'11-'12-'13
The only things I have seen NOT go down in prices are the Corvette Restoration site's prices for the things we want/need to restore a C3. Or is it just me?
Le Mans Master
Joined: Jun 2007
Posts: 7,666
Likes: 1
From: Where it's always hot as Hell-South Louisiana.
St. Jude Donor '07-'08-'09-'10-'11-'12-'13
Le Mans Master
Joined: Jun 2007
Posts: 7,666
Likes: 1
From: Where it's always hot as Hell-South Louisiana.
St. Jude Donor '07-'08-'09-'10-'11-'12-'13
It makes it a good time for people from other countries to buy vettes from America, as your prices are so low compared to that of the prices in Australia. The only problem is that they have just changed the laws here so now it makes it almost impossible to import anything that is modified!!!
Melting Slicks
Joined: May 2009
Posts: 3,079
Likes: 314
2024 C3 of the Year Finalist - Unmodified
You will not see any drop in parts or labor prices for any kind of auto repair. The current "creation" cost (purchase + repair or restoration) on most all C3s is considerably more than the current market value. This too will change, as the pendulum swings back the other way. The number of available C3s is going down every year and the number of people in the world is going up. As we start seeing more and more little POS electrics running around, the demand for our cars will only go up. We are not talking Model Ts, Studebakers, million dollar Ferraris or Rolls Royces here. The C3 is beauty, power and speed all rolled into one. It is both desired by and within reach of many people...once they decide to start buying again.
By the way, my brother was at a car show this weekend at the Minnesota State Fair Grounds and it supposedly had over 11,000 entrants. People may not be as rich as they once thought they were, but their interest in cool cars has not diminished.