What are early C3 prices doing in general?
08-13-2012, 03:26 PM
#1
Race Director
Thread Starter
What are early C3 prices doing in general?
My '81 is a basket case that is going to take a long time to get road worthy/fun.
So I'm thinking, since I know my way around a C3, and you basically have to pay a bank to open a CD, I might find a '68-'72 to have fun with on the weekends with the hope that it wouldn't depreciate much.
Based on what I've seen, LT-1 cars and big blocks will be out of my league budget wise, but the base 350's are out there to be had for what I'm willing to pay, but I'd like to hope it will hold it's value, even if I have to wait a while to find the right buyer.
Is there any general price trend on these cars, or are they rising and falling with the economy? If there are any good links to data, I'd do my own research, but have only found one site thus far, and it's mostly pay only.
I know some here do this more or less professionally, so I'd like your impressions, if you wouldn't mind sharing.
Thanks.
So I'm thinking, since I know my way around a C3, and you basically have to pay a bank to open a CD, I might find a '68-'72 to have fun with on the weekends with the hope that it wouldn't depreciate much.
Based on what I've seen, LT-1 cars and big blocks will be out of my league budget wise, but the base 350's are out there to be had for what I'm willing to pay, but I'd like to hope it will hold it's value, even if I have to wait a while to find the right buyer.
Is there any general price trend on these cars, or are they rising and falling with the economy? If there are any good links to data, I'd do my own research, but have only found one site thus far, and it's mostly pay only.
I know some here do this more or less professionally, so I'd like your impressions, if you wouldn't mind sharing.
Thanks.
08-13-2012, 08:09 PM
#3
Instructor
Well, all I can do is report what I see. It seems the prices on the chrome bumper cars can best be described as stable. As you said, the LT-1 and big block cars, particularly the 68-69 427 cars are bringing a pretty healthy premium. Desirability vs availability is the factor here. Overall of the chrome bumper years the 71 and 72 cars seem to be the ones that can be had for the least money, as a general rule. I think any C3 should appreciate in value as the C1's and C2's are now out of reach of many of us. However, if you are going to restore a car, be advised that you will likely spend more on it than you will ever get back out of it. Old cars are fun, but I do not consider them good investments if you are looking for a financial gain. Just my .02
08-14-2012, 08:50 AM
#4
Melting Slicks
I just spent more on a paint job than I will ever get out of my car. Bad investment?? just ask me when I am driving it down the roads this fall.
08-14-2012, 10:26 AM
#5
Race Director
Thread Starter
The paint job quotes on my '81 project have pretty much killed the idea that I will do anything but lose my shirt restoring a car. What I would be looking for would be something that I could drive and enjoy without any long-term down time.
I'm planning on doing a quasi-mothball of the '81 if I can't sell it as is and do the body work and prep myself down the road when I have more time.
I'm planning on doing a quasi-mothball of the '81 if I can't sell it as is and do the body work and prep myself down the road when I have more time.
08-14-2012, 01:47 PM
#6
Melting Slicks
IN GENERAL, C3 Vette prices appear to be remaining static nowadays. These cars are hot, they tend to ride rough, squeak, rattle, the interiors are confined, and they are a lot more mechanically complicated than your garden-variety Chevelle or Camaro that cost way less when new.
Doing a proper paint job on any Corvette is a way more labor-intensive proposition than on a metal car, the parts are more expensive, and they can be just plain difficult to work on- brakes, rearend, etc., etc. are all more difficult to maintain and restore than almost any other vintage American car. All of this contributes to making these cars expensive to restore, minimizing the opportinity for profit, reducing their desirability to collectors, and keeping purchase prices down.
There are exceptions for well-restored numbers-matching chrome-bumper big-blocks and LT1's, but again, buying an old C3 with the intention of making money on a restoration is a dubious proposition on a good day.
With all that said, a properly-presented C3 corvette is still the coolest-looking car ever made...
Doing a proper paint job on any Corvette is a way more labor-intensive proposition than on a metal car, the parts are more expensive, and they can be just plain difficult to work on- brakes, rearend, etc., etc. are all more difficult to maintain and restore than almost any other vintage American car. All of this contributes to making these cars expensive to restore, minimizing the opportinity for profit, reducing their desirability to collectors, and keeping purchase prices down.
There are exceptions for well-restored numbers-matching chrome-bumper big-blocks and LT1's, but again, buying an old C3 with the intention of making money on a restoration is a dubious proposition on a good day.
With all that said, a properly-presented C3 corvette is still the coolest-looking car ever made...
08-14-2012, 02:11 PM
#7
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With all that said, a properly-presented C3 corvette is still the coolest-looking car ever made...
"birdsmith" hit the nail right smack on the head. It's not how it feels, it's how it looks and a C3 looks marvelous!!!
08-14-2012, 11:31 PM
#8
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IMHO C3's are the best buy right now from a pure "value retention" perspective.
Prices have dropped back to reality in most cases, and are flat lining, but you will still have those guys who think that there beat up BB tri-power is worth over $50K, and IMHO it never will be, nor is it today. Ignore them and their cars.....for pretty much everyone else is, as these cars sit for a very long time. $500K L88's are a joke........just go and buy a chrome bumper C3 and spend $10K for a 650HP BB and run it on pump gas all day long........save the other $450-460K for whatever you want.
One, two, or three high end sales does not a market make, for statistically speaking, there are just as many rich and drunken idiots at BJ who couldn't find their a _ _ with both hands, let alone recognize a well priced quality C3 @ $30K.....of which there are hundreds available on both sides of that figure, many of which have been listed for sale right here on CF.
C1 owners/buyers are all dead now or close to it, as are their values..........C2 owners have one foot in the grave and grasp at straws with their rolling retirement plan pricing strategies. If you want one of those time really "is" on your side, in more ways than one, for having the grim reaper as your constant passenger puts pressure on your financial plans. C3 buyers are in plentifull supply today demographically speaking, and will be for 5-20 years from now, which ensures stable values. Buy the car for fun and value retention, if it goes up in price, oh well, but don't plan on it.
C4's and up are nice Vette's, but utterly lack the cachet of the early cars......so they will never be collectors items.....just fast modern cars amongst a field of 20+ other similar offerings in the same price range.
FWIW......been reading here and watching the market since early 2010......have cash in hand and am currently waiting for the ball to drop in November (and in the EU) before I decide whether or not to pull the trigger this coming winter........there's really no hurry regardless, as you probably can find 300+ cars at any given time to sift thru. It's a buyer's market to the tenth power.
Prices have dropped back to reality in most cases, and are flat lining, but you will still have those guys who think that there beat up BB tri-power is worth over $50K, and IMHO it never will be, nor is it today. Ignore them and their cars.....for pretty much everyone else is, as these cars sit for a very long time. $500K L88's are a joke........just go and buy a chrome bumper C3 and spend $10K for a 650HP BB and run it on pump gas all day long........save the other $450-460K for whatever you want.
One, two, or three high end sales does not a market make, for statistically speaking, there are just as many rich and drunken idiots at BJ who couldn't find their a _ _ with both hands, let alone recognize a well priced quality C3 @ $30K.....of which there are hundreds available on both sides of that figure, many of which have been listed for sale right here on CF.
C1 owners/buyers are all dead now or close to it, as are their values..........C2 owners have one foot in the grave and grasp at straws with their rolling retirement plan pricing strategies. If you want one of those time really "is" on your side, in more ways than one, for having the grim reaper as your constant passenger puts pressure on your financial plans. C3 buyers are in plentifull supply today demographically speaking, and will be for 5-20 years from now, which ensures stable values. Buy the car for fun and value retention, if it goes up in price, oh well, but don't plan on it.
C4's and up are nice Vette's, but utterly lack the cachet of the early cars......so they will never be collectors items.....just fast modern cars amongst a field of 20+ other similar offerings in the same price range.
FWIW......been reading here and watching the market since early 2010......have cash in hand and am currently waiting for the ball to drop in November (and in the EU) before I decide whether or not to pull the trigger this coming winter........there's really no hurry regardless, as you probably can find 300+ cars at any given time to sift thru. It's a buyer's market to the tenth power.
Last edited by 10caipirinhas; 08-14-2012 at 11:58 PM.
08-15-2012, 12:37 AM
#9
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I think your question was basically regarding recent price trends in 68-72s and whether that money was not depreciating.
My personal opinion is that the answer is yes, those cars are relatively stable and seem to be safe to consider as a good bet to do reasonably well in the near future if the economy doesnt tank again.
The key is to buy them right, not overpay for the wrong car and examine them properly at inspection. Options help them quite a bit, and the trend that convertibles are much stronger in price, I believe will continue. However, buying a convertible will certainly cost more too, so that could be a wash. I do believe the correct-motor convertibles are the easiest to sell, regardless of prices.
My personal opinion is that the answer is yes, those cars are relatively stable and seem to be safe to consider as a good bet to do reasonably well in the near future if the economy doesnt tank again.
The key is to buy them right, not overpay for the wrong car and examine them properly at inspection. Options help them quite a bit, and the trend that convertibles are much stronger in price, I believe will continue. However, buying a convertible will certainly cost more too, so that could be a wash. I do believe the correct-motor convertibles are the easiest to sell, regardless of prices.
08-15-2012, 12:42 AM
#10
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I absolutely could sell my '58 at market price 10 times before I could get the comparable market sale on my '69 roadster.
08-15-2012, 08:20 AM
#11
Race Director
Thread Starter
If I could get a '61 or '62 for a song, I'd let them pick the tune. Love those cars.
08-15-2012, 10:19 AM
#12
IMHO C3's are the best buy right now from a pure "value retention" perspective.
Prices have dropped back to reality in most cases, and are flat lining, but you will still have those guys who think that there beat up BB tri-power is worth over $50K, and IMHO it never will be, nor is it today. Ignore them and their cars.....for pretty much everyone else is, as these cars sit for a very long time. $500K L88's are a joke........just go and buy a chrome bumper C3 and spend $10K for a 650HP BB and run it on pump gas all day long........save the other $450-460K for whatever you want.
One, two, or three high end sales does not a market make, for statistically speaking, there are just as many rich and drunken idiots at BJ who couldn't find their a _ _ with both hands, let alone recognize a well priced quality C3 @ $30K.....of which there are hundreds available on both sides of that figure, many of which have been listed for sale right here on CF.
C1 owners/buyers are all dead now or close to it, as are their values..........C2 owners have one foot in the grave and grasp at straws with their rolling retirement plan pricing strategies. If you want one of those time really "is" on your side, in more ways than one, for having the grim reaper as your constant passenger puts pressure on your financial plans. C3 buyers are in plentifull supply today demographically speaking, and will be for 5-20 years from now, which ensures stable values. Buy the car for fun and value retention, if it goes up in price, oh well, but don't plan on it.
C4's and up are nice Vette's, but utterly lack the cachet of the early cars......so they will never be collectors items.....just fast modern cars amongst a field of 20+ other similar offerings in the same price range.
FWIW......been reading here and watching the market since early 2010......have cash in hand and am currently waiting for the ball to drop in November (and in the EU) before I decide whether or not to pull the trigger this coming winter........there's really no hurry regardless, as you probably can find 300+ cars at any given time to sift thru. It's a buyer's market to the tenth power.
Prices have dropped back to reality in most cases, and are flat lining, but you will still have those guys who think that there beat up BB tri-power is worth over $50K, and IMHO it never will be, nor is it today. Ignore them and their cars.....for pretty much everyone else is, as these cars sit for a very long time. $500K L88's are a joke........just go and buy a chrome bumper C3 and spend $10K for a 650HP BB and run it on pump gas all day long........save the other $450-460K for whatever you want.
One, two, or three high end sales does not a market make, for statistically speaking, there are just as many rich and drunken idiots at BJ who couldn't find their a _ _ with both hands, let alone recognize a well priced quality C3 @ $30K.....of which there are hundreds available on both sides of that figure, many of which have been listed for sale right here on CF.
C1 owners/buyers are all dead now or close to it, as are their values..........C2 owners have one foot in the grave and grasp at straws with their rolling retirement plan pricing strategies. If you want one of those time really "is" on your side, in more ways than one, for having the grim reaper as your constant passenger puts pressure on your financial plans. C3 buyers are in plentifull supply today demographically speaking, and will be for 5-20 years from now, which ensures stable values. Buy the car for fun and value retention, if it goes up in price, oh well, but don't plan on it.
C4's and up are nice Vette's, but utterly lack the cachet of the early cars......so they will never be collectors items.....just fast modern cars amongst a field of 20+ other similar offerings in the same price range.
FWIW......been reading here and watching the market since early 2010......have cash in hand and am currently waiting for the ball to drop in November (and in the EU) before I decide whether or not to pull the trigger this coming winter........there's really no hurry regardless, as you probably can find 300+ cars at any given time to sift thru. It's a buyer's market to the tenth power.
08-15-2012, 01:08 PM
#13
Team Owner
I fear that the vintage auto market (except for the rich and very elite classic vehicles) is beginning the slide DOWN. As mentioned above, us 'old guys' (60+ years old) will not be staying in this mode of collecting and maintaining these cars for many more years....for one reason 
or another.
And, while there are some young folks who really like the same old cars that we do, most do not. In 10-15 years, local car shows may be a thing of the past, as we sell or bequeath these cars to others. And, most young folks don't really have the background and/or training required to work on these cars and keep them viable. I am always very thankful and supportive of young folks who attend these shows and ask questions. It is those folks that will save this "hobby"...if there are enough of them.
or another.And, while there are some young folks who really like the same old cars that we do, most do not. In 10-15 years, local car shows may be a thing of the past, as we sell or bequeath these cars to others. And, most young folks don't really have the background and/or training required to work on these cars and keep them viable. I am always very thankful and supportive of young folks who attend these shows and ask questions. It is those folks that will save this "hobby"...if there are enough of them.
08-15-2012, 01:51 PM
#14
Race Director
Thread Starter
I fear that the vintage auto market (except for the rich and very elite classic vehicles) is beginning the slide DOWN. As mentioned above, us 'old guys' (60+ years old) will not be staying in this mode of collecting and maintaining these cars for many more years....for one reason or another.
And, while there are some young folks who really like the same old cars that we do, most do not. In 10-15 years, local car shows may be a thing of the past, as we sell or bequeath these cars to others. And, most young folks don't really have the background and/or training required to work on these cars and keep them viable. I am always very thankful and supportive of young folks who attend these shows and ask questions. It is those folks that will save this "hobby"...if there are enough of them.
or another.And, while there are some young folks who really like the same old cars that we do, most do not. In 10-15 years, local car shows may be a thing of the past, as we sell or bequeath these cars to others. And, most young folks don't really have the background and/or training required to work on these cars and keep them viable. I am always very thankful and supportive of young folks who attend these shows and ask questions. It is those folks that will save this "hobby"...if there are enough of them.
08-15-2012, 02:16 PM
#15
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08-15-2012, 04:56 PM
#16
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I'm 46 years old and cant help but notice that the majority of car owners at shows tend to be older than me, in some cases much older. I have to think that within the next 10 to 15 years there will be a flood of vehicles ...corvette, musclecars, etc. into the market as people can no longer care for or drive their classic cars. More supply and less demand will result in lower prices.
Mike
Mike
08-15-2012, 05:24 PM
#17
Melting Slicks
I'm 46 years old and cant help but notice that the majority of car owners at shows tend to be older than me, in some cases much older. I have to think that within the next 10 to 15 years there will be a flood of vehicles ...corvette, musclecars, etc. into the market as people can no longer care for or drive their classic cars. More supply and less demand will result in lower prices.
Mike
Mike
45 here and couldn't agree more. I have the money sitting today to purchase a new 2012 GS vert, but to pull the trigger I'd probably be the youngest guy within 100 miles of my home to own one by probably 15 years!!!!@bb62 If all C classes have roughly the same median age......show me a 35 year old owner of a C1/C2.......or someone who has the cake to pull off the deal. Sure there are exceptions to every rule, but the generation behind ours would rather spend their money on some 4 cylinder rice rocket. I, like Mike, see a glut in the next 10-15 years as "baby-boomers" try to cash out to recuperate some of their life savings.
08-15-2012, 07:31 PM
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I'm 46 years old and cant help but notice that the majority of car owners at shows tend to be older than me, in some cases much older. I have to think that within the next 10 to 15 years there will be a flood of vehicles ...corvette, musclecars, etc. into the market as people can no longer care for or drive their classic cars. More supply and less demand will result in lower prices.
Mike
Mike
You must remember there are two types of collectors, people that want original and people that want the look and a car that handles like a new car (restro rod)
An example is I negotiated on a 62 vette Sunday that had been perfectly restored and we stopped at him wanting $75,000, yet I have a Friend with a 62 restro rod, with an LS3/overdrive and he has turned down over $150,000 and car is not for sale.
Last five years be it Barrett or any other auction, the restro rods are bringing the money.
Personally for me, any more restorations I do will be restro rod and If i buy the 62, it will get a new drive train from front to rear along with disc's and upgraded suspension.