Book value versus real world value
Thread Starter
Heel & Toe
Joined: May 2015
Posts: 22
Likes: 0
Book value versus real world value
Anybody but me puzzled by the big difference between book values like NADA, for a late C3, in my case a 1981, versus what the actual local market value is?
For instance: Current NADA value for a 1981 C3 that has AC, Aluminum Wheels, Glass T tops:
Low Retail-$13,494.00
Ave. Retail-$17,935.00
High Retail-$31,200.00
I live in the DFW area of Texas. I checked the local Craigslist, and those numbers do not reflect current values here. I checked the LA Craigslist and found much the same numbers as the Dallas edition of Craigslist.
Those numbers ranged from $5,500.00 to $15,000.00 or so. Most of them coming in on the lower end to the middle of those numbers.
My spin on it is that rubber bumper C3's are valued a lot less than the metal bumper ones for a variety of reasons, the main one is the greatly diminished performance of them due to EPA regs of the day.
If you fix the performance issue like I did, you have a lot of money tied up in one, but a whole lot less than a metal bumper one.
For instance: Current NADA value for a 1981 C3 that has AC, Aluminum Wheels, Glass T tops:
Low Retail-$13,494.00
Ave. Retail-$17,935.00
High Retail-$31,200.00
I live in the DFW area of Texas. I checked the local Craigslist, and those numbers do not reflect current values here. I checked the LA Craigslist and found much the same numbers as the Dallas edition of Craigslist.
Those numbers ranged from $5,500.00 to $15,000.00 or so. Most of them coming in on the lower end to the middle of those numbers.
My spin on it is that rubber bumper C3's are valued a lot less than the metal bumper ones for a variety of reasons, the main one is the greatly diminished performance of them due to EPA regs of the day.
If you fix the performance issue like I did, you have a lot of money tied up in one, but a whole lot less than a metal bumper one.
Melting Slicks
Joined: Jun 2007
Posts: 2,623
Likes: 22
From: Boise Idaho
St. Jude Donor '09-'10, '15, '17
Those NADA values might be for dealer retail.
I find that Hagerty is usually pretty close to what I see on craigslist ebay ec.
The Hagerty ave value for 1981 seems to be close to what you are thinking.
https://www.hagerty.com/valuationtoo...ort?vbe=119493
I find that Hagerty is usually pretty close to what I see on craigslist ebay ec.
The Hagerty ave value for 1981 seems to be close to what you are thinking.
https://www.hagerty.com/valuationtoo...ort?vbe=119493
Melting Slicks
Joined: May 2009
Posts: 3,079
Likes: 314
2024 C3 of the Year Finalist - Unmodified
True...depending on the sales effort. A for sale sign in the driveway that only gets the attention of Joe Sixpack down the street does not determine market value. Seriously advertising it all over the internet and every venue possible, while not being desperate to sell, will certainly bring more money. It is not worth what somebody will pay for it...it is worth what many people are willing to pay for it.
Administrator
Joined: Jul 2000
Posts: 53,981
Likes: 6,207
From: About 1100 miles from where I call home.
Most people familiar with the market understand that NADA numbers are off the charts laughable. $31k for high retail on an '81 is a nice example of that. There's nothing remotely market value about NADA, but they do make some sales difficult when sellers don't know any better.
Corvette Stories
The Best of Corvette for Corvette Enthusiasts
How Much Horsepower Every Corvette Engine "LOST" in 1972
Joe Kucinski
Top 10 DOs and DON'Ts for Protecting Your Convertible Top!
Michael S. Palmer
Top 10 Most Explosive Corvettes Ever Made: Power-to-Weight Ratio Ranked!
Joe Kucinski
150 hp to 1,250 hp: Every Corvette Generation Compared by the Specs That Matter
Joe Kucinski
8 Coolest Corvette Pace Cars (and Replicas) of All Time
Verdad Gallardo
Top 10 Corvette Engines RANKED by Peak Torque (70+ Years of Muscle!)
Joe Kucinski
Corvette ZR1X Will Be Pacing the Indy 500, And Could Probably Race, Too!
Verdad Gallardo
Top 10 Corvettes Coming to Mecum Indy 2026!
Brett Foote
Top 10 C9 Corvette MUST-HAVES to Fix These C8 Generation Flaws!
Michael S. Palmer
Le Mans Master
Joined: May 2003
Posts: 8,876
Likes: 3,556
From: Fernandina Beach FL
2023 Restomod of the Year finalist
2020 C3 of the Year Winner - Modified
Most people familiar with the market understand that NADA numbers are off the charts laughable. $31k for high retail on an '81 is a nice example of that. There's nothing remotely market value about NADA, but they do make some sales difficult when sellers don't know any better.
I have found the closest retail pricing is to look at sold listing on eBay- as they are pretty close to what you are going to fetch for your car.
Richard
Safety Car
Joined: Feb 2012
Posts: 4,705
Likes: 983
From: Orlando FL
Melting Slicks
Joined: Oct 2003
Posts: 2,175
Likes: 821
From: Chapel Hill NC
2025 c3 ('68-'73) of the Year Finalist - Unmodified
2025 C4 of the Year Finalist - Unmodified
2025 C8 Stingray of the Year Finalist - Unmodified
You try and tell that to our DMV in Georgia- as that is exactly what they use to "value" your car for tax purposes!!!
I have found the closest retail pricing is to look at sold listing on eBay- as they are pretty close to what you are going to fetch for your car.
Richard
I have found the closest retail pricing is to look at sold listing on eBay- as they are pretty close to what you are going to fetch for your car.
Richard
NADA values look good to me times 1/2.
Le Mans Master
Joined: May 2003
Posts: 8,876
Likes: 3,556
From: Fernandina Beach FL
2023 Restomod of the Year finalist
2020 C3 of the Year Winner - Modified
Richard- I lived in Ga. up until two years ago and my DMV in Fannin county accessed my collectibles at $40 as historical vehicles. Get on Georgia Street Rod Assoc. website- they have a lot of info on Ad Valorem Taxes. All this could have changed since I left, but there were inconsistencies among counties back then.
NADA values look good to me times 1/2.
NADA values look good to me times 1/2.
"Vehicles purchased on or after March 1, 2013 and titled in the state of Georgia will be exempt from sales and use tax and the annual Ad Valorem Tax. Instead, these vehicles will be subject to a new, one-time Title Ad Valorem Tax that is based on the value of the vehicle."
Melting Slicks
Joined: Apr 2007
Posts: 3,189
Likes: 111
From: Tolland CT
There are some well documented, low mileage, rare, desirable cars out there which some will pay big $$ for. You'll see them surfacing once in a while going from one collection to another. There are very few of these cars, making them more valuable. My take is most of the Corvettes out there don't come close to this level of collectiblity.
Race Director
Joined: Jul 2015
Posts: 13,082
Likes: 3,399
From: SW Florida.
Safety Car
Joined: Feb 2012
Posts: 4,705
Likes: 983
From: Orlando FL
There are some well documented, low mileage, rare, desirable cars out there which some will pay big $$ for. You'll see them surfacing once in a while going from one collection to another. There are very few of these cars, making them more valuable. My take is most of the Corvettes out there don't come close to this level of collectiblity.
Safety Car
Joined: Sep 2011
Posts: 4,115
Likes: 1,230
From: Madeira Beach, FL
2024 C8 of the Year Finalist - Unmodified
2024 C2 of the Year Finalist - Unmodified
2023 C2 of the Year Finalist - Unmodified
2020 C3 of the Year Finalist - Unmodified
Well my friend a good gauge would be real world sales at events like Carlise.
I was there last Saturday. Some guys who were out of their skulls with ridiculous #'s chalked on the windshield, those cars were still there at the end of the day. They took them home Sunday no doubt. Time to fall back and regroup, I guess your not buying that AC cobra this week.
The ones I saw marked "sold" were more realistic in price. I said; I could see this selling for that.
The economy is soft now. Some cars will always command strong money. But to give you an example, a 69 Monoco Orange L-88 with all the pedigree paper work fell short of the 600,000 mark. I remember watching auctions last year this time they were breaking 800,000. Maybe the orange did it in?
1954 corvette turn key cond. 75k. Yeah I would have paid that if I had it.
That was priced right.
So really its what the public is willing to pay at the time you are ready to sell.
Marshal.
I was there last Saturday. Some guys who were out of their skulls with ridiculous #'s chalked on the windshield, those cars were still there at the end of the day. They took them home Sunday no doubt. Time to fall back and regroup, I guess your not buying that AC cobra this week.
The ones I saw marked "sold" were more realistic in price. I said; I could see this selling for that.
The economy is soft now. Some cars will always command strong money. But to give you an example, a 69 Monoco Orange L-88 with all the pedigree paper work fell short of the 600,000 mark. I remember watching auctions last year this time they were breaking 800,000. Maybe the orange did it in?
1954 corvette turn key cond. 75k. Yeah I would have paid that if I had it.
That was priced right.So really its what the public is willing to pay at the time you are ready to sell.
Marshal.
Safety Car
Joined: Sep 2007
Posts: 4,458
Likes: 331
From: Indy Indiana
I think the economy is fine.. prices have been going up.. it is just the high end cars that do not stay in the appreciation curve.
If I could get what hagerty says my car is worth I would be happy.
In my opinion, EBAY sales are NOT a good picture of what the market is. EBAY is nothing but what someone from across country will pay for a car sight unseen. Give your car national exposure on EBAY, but then sell it later for 25% more.
to re-iterate what I always say: getting good data on sale prices is problematical. few people will admit in a survey what they paid or what they sold for. therefor the basis of the data is bogus.
set your price high and look for a buyer.. unless you are in a hurry and that can cost you.
If I could get what hagerty says my car is worth I would be happy.
In my opinion, EBAY sales are NOT a good picture of what the market is. EBAY is nothing but what someone from across country will pay for a car sight unseen. Give your car national exposure on EBAY, but then sell it later for 25% more.
to re-iterate what I always say: getting good data on sale prices is problematical. few people will admit in a survey what they paid or what they sold for. therefor the basis of the data is bogus.
set your price high and look for a buyer.. unless you are in a hurry and that can cost you.