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Another pricing thread, with a sligthtly different twist

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Another pricing thread, with a sligthtly different twist

 
Old 08-03-2017, 11:40 AM
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crawfish333
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Default Another pricing thread, with a sligthtly different twist

Occasionally, someone will make a comment on here to the effect that our cars will never be worth anything because so many were made, people from that generation are getting older, and a wide variety of other issues. We seem to be one of the most self-effacing groups in the car community. While I understand this line of thinking, I have been pondering some facts that may contradict this; at least to some degree.
  1. When we see newbies who come on our site that are all excited about a car they are considering that turns out to be a cancer stricken rust bucket. There seems to be a lot of people out there trying to unload cars that have terminal rust on the frame or birdcage. Sooner or later many of these cars will cease to exist or become permanent yard ornaments. In my estimation, these types of cars are bringing the market price down on C3 cars in general.
  2. I have noticed an uptick in the prices that post chrome bumper year cars are selling for in the last couple of years. Previously a 74-82 would seldom command more than 10 grand, but I am seeing a lot of them go for 15-18K recently. Chrome bumper cars have also seen a moderate rise in prices. Especially high end examples.
  3. Resto-mod C3s are increasing in popularity and are getting pricier. Whenever one is built, the donor car is typically a rust free example that is permanently removed from the supply of cars available for a restoration to original.
  4. The exporting of C3s is becoming more common. This trend could eventually put upward pressure on pricing, but it is still a little too early so make a determination.
  5. The last fact is the increasing prices of nice C2s. This has priced some people out of the C2 market. This has caused some to buy a C3 instead.
So will C3 prices climb in the future? This is a question that I do not think any of us can answer, but I do think the predictions of doom could be a little premature.

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Old 08-03-2017, 10:10 PM
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I think C3 Corvettes are easily the best value for money in terms of 1950's to early 1980's American cars. Cars that were much cheaper new, with lesser styling, handling, and performance potential, and of which more were sold, are selling for more than C3s. I know I'm not the only person who sees this, and it drives people into the market for these cars, which in turn, eventually, drives the prices higher.

As for rubber bumper prices - people like myself who weren't around to see the cars when new, don't see some restricted government destroyed travesty, but an awesome looking car with good suspension and chassis and a sbc that can easily be upgraded for as much hp as you desire. And a nice interior, with aircon, power windows etc. They are and have been ridiculously cheap for a long time, and a lot of people are recognising that and jumping into the market.

I don't, and don't believe anyone should, own these cars for a hope they'll someday be worth megabucks, but I did buy in as I thought I may not be able to in future. Here in Aus their value has been increasing, but there's other factors (such as exchange rate) at play there as well. Here in Aus, any c3 Corvette stops everyone who sees it in their tracks.

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Old 08-03-2017, 10:56 PM
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Originally Posted by Metalhead140 View Post
I think C3 Corvettes are easily the best value for money in terms of 1950's to early 1980's American cars.


It's hard to beat the awesomeness per dollar when it comes to buying a C3.
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Old 08-03-2017, 11:45 PM
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I've been hearing this same type questions for literally the last 30 years. Its always the same. Substitute Prosteet car for restomod and it's the same.

I do not see the prices climbing much for C3s at all. I see people ASKING big money but the cars that sell are not priced very high.

You need two things to make something go up in value. You need rarity and demand. C3s overall are not rare. Chrome bumper cars overall are not overly common, but not really rare. They made close to 40000 in 69 alone.

If you take values over the last 30 years and how much they increased to today its something like 3% per year. Not terrible, but nothing to write home about.

You can still find good original drive train big block 69s for $30k. I'm looking at more than one right now.

I don't care if prices go up or down. Not in it for that reason. I only pay attention to it to get the best bang for my buck when I buy. I don't sell any.

I don't see prices increasing much any time soon.

The rusty frame cars will not affect prices anymore than the perfect cars will. They will be worth whatever they are worth based on each cars qualifications.

Someone in another thread about the blank tank sticker said the tank sticker only raises the value a few hundred dollars. Well, I have personally paid several thousand more for a car because of the perfect, legit tank sticker, then I would have paid for a car that didnt have one. Point is, different things effect price for different people. When discussing overall prices for any car its nearly impossible to lump a catagory together to include all cars.

Its always interesting to follow the trends of where the prices may be going but I wouldn't worry about it no matter what happens.

It may go up or down but either way it won't be by too much.

There will be demand for these cars long after most of us are gone. And even if I'm wrong, as long as I'm alive there will be at least one person with demand for them. I couldnt care less if not a single person other than myself liked the chrome bumper C3s. That just means they will be cheaper for me to buy.

Buy what you like, don't worry about the market. Let the guys who worry about flipping these cars worry about it.

Last edited by ed427vette; 08-04-2017 at 05:37 AM.
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Old 08-04-2017, 04:09 AM
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I would like to see some statistics by year of how many of them are actually still on the road. We are talking Pre DUI law years and sure a lot of these ended up crashed. On craigslist near me I see more for sale that are crashed for parts than I actually see for sale in operation. The ones for sale in Operation are asking way more than the Hagerty Price Estimator. There will always be a low seller that lost their job but there will always be a dreamy buyer. I guess it all boils down to how good a salesman you are.
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Old 08-04-2017, 08:59 AM
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Originally Posted by ed427vette View Post
I've been hearing this same type questions for literally the last 30 years. Its always the same. Substitute Prosteet car for restomod and it's the same.

I do not see the prices climbing much for C3s at all. I see people ASKING big money but the cars that sell are not priced very high.

You need two things to make something go up in value. You need rarity and demand. C3s overall are not rare. Chrome bumper cars overall are not overly common, but not really rare. They made close to 40000 in 69 alone.

If you take values over the last 30 years and how much they increased to today its something like 3% per year. Not terrible, but nothing to write home about.

You can still find good original drive train big block 69s for $30k. I'm looking at more than one right now.

I don't care if prices go up or down. Not in it for that reason. I only pay attention to it to get the best bang for my buck when I buy. I don't sell any.

I don't see prices increasing much any time soon.

The rusty frame cars will not affect prices anymore than the perfect cars will. They will be worth whatever they are worth based on each cars qualifications.

Someone in another thread about the blank tank sticker said the tank sticker only raises the value a few hundred dollars. Well, I have personally paid several thousand more for a car because of the perfect, legit tank sticker, then I would have paid for a car that didnt have one. Point is, different things effect price for different people. When discussing overall prices for any car its nearly impossible to lump a catagory together to include all cars.

Its always interesting to follow the trends of where the prices may be going but I wouldn't worry about it no matter what happens.

It may go up or down but either way it won't be by too much.

There will be demand for these cars long after most of us are gone. And even if I'm wrong, as long as I'm alive there will be at least one person with demand for them. I couldnt care less if not a single person other than myself liked the chrome bumper C3s. That just means they will be cheaper for me to buy.

Buy what you like, don't worry about the market. Let the guys who worry about flipping these cars worry about it.


That says it all
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Old 08-04-2017, 11:50 AM
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If you go out onto the C2 part of the forums, they all keep talking about how C2 values are starting to come down because people were out priced and their market base is getting smaller. They are saying C3's are increasing because of it.

Personally, most of us would be happy if the C3s value went up... however it doesn't really impact those of us with cars already until you go to buy a new one or sell an existing.

You're going to get what you get from the market really. I believe they've gone up in value to a point, especially some of the more rare options... however there are plenty of cars out there to pick from should someone be asking too much.
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Old 08-04-2017, 12:07 PM
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I am not planning to sell my car. I am just interested in pricing trends in te same manner as I am interested in stock market stocks. We get a lot of questions on here about the value of cars for sale and the answer always seems to be the price is too high.. but is it? Sometimes I think we may be scaring people away from nice car because of price. I may have paid too much for my car, but when I bought it I was more interested in getting a matching numbers car with solid bones than I was getting a Craig's list special.

Originally Posted by raydog9379 View Post
If you go out onto the C2 part of the forums, they all keep talking about how C2 values are starting to come down because people were out priced and their market base is getting smaller. They are saying C3's are increasing because of it.

Personally, most of us would be happy if the C3s value went up... however it doesn't really impact those of us with cars already until you go to buy a new one or sell an existing.

You're going to get what you get from the market really. I believe they've gone up in value to a point, especially some of the more rare options... however there are plenty of cars out there to pick from should someone be asking too much.

Last edited by crawfish333; 08-04-2017 at 12:09 PM.
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Old 08-04-2017, 01:02 PM
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Originally Posted by crawfish333 View Post
I am not planning to sell my car. I am just interested in pricing trends in te same manner as I am interested in stock market stocks. We get a lot of questions on here about the value of cars for sale and the answer always seems to be the price is too high.. but is it? Sometimes I think we may be scaring people away from nice car because of price. I may have paid too much for my car, but when I bought it I was more interested in getting a matching numbers car with solid bones than I was getting a Craig's list special.
I get it, BTW your car looks pretty nice in your avatar. I wish I came here first 12-13 years ago when I bought my 78. I'd have probably gone in a different direction in terms of car I ended up purchasing (probably could have gone for a chrome bumper in pretty good shape at the time for the same $ I put into paint/interior/various fixes/orig. purchase of my 78). Though fortunately I did get an unhit car, with solid birdcage. Live and learn, I was 24 and naive.
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Old 08-04-2017, 02:29 PM
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Your car is beautiful and I love 78s. I know that if I sold my car I would never recover my investment, but that is OK since I have no plans to sell it. I wish I wasn't so OCD so that I could just drive it and enjoy it, but I am determined that everything on the car will eventually be like in like new condition.
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Old 08-04-2017, 09:43 PM
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Originally Posted by crawfish333 View Post
Occasionally, someone will make a comment on here to the effect that our cars will never be worth anything because so many were made, people from that generation are getting older, and a wide variety of other issues. We seem to be one of the most self-effacing groups in the car community. While I understand this line of thinking, I have been pondering some facts that may contradict this; at least to some degree.
  1. When we see newbies who come on our site that are all excited about a car they are considering that turns out to be a cancer stricken rust bucket. There seems to be a lot of people out there trying to unload cars that have terminal rust on the frame or birdcage. Sooner or later many of these cars will cease to exist or become permanent yard ornaments. In my estimation, these types of cars are bringing the market price down on C3 cars in general.
  2. I have noticed an uptick in the prices that post chrome bumper year cars are selling for in the last couple of years. Previously a 74-82 would seldom command more than 10 grand, but I am seeing a lot of them go for 15-18K recently. Chrome bumper cars have also seen a moderate rise in prices. Especially high end examples.
  3. Resto-mod C3s are increasing in popularity and are getting pricier. Whenever one is built, the donor car is typically a rust free example that is permanently removed from the supply of cars available for a restoration to original.
  4. The exporting of C3s is becoming more common. This trend could eventually put upward pressure on pricing, but it is still a little too early so make a determination.
  5. The last fact is the increasing prices of nice C2s. This has priced some people out of the C2 market. This has caused some to buy a C3 instead.
So will C3 prices climb in the future? This is a question that I do not think any of us can answer, but I do think the predictions of doom could be a little premature.
I agree and your point about post chrome bumper cars was right on spot.

I obtained my first Vette 12/31/2016 after wanting one for about 45 years!!

You can imagine the research I did as this would be my regular driver...mostly on long distance round trips of around 300 miles.

After comparing comfort features compatible for my type of driving and one I thought would hold it's value if not increase in value, I decided on a 78 L82 4 spd car. Preferred the Pace Car but the S/A paint car was also an option.

After many months searching, I located my perfect car with S/A paint and Oyster interior. One owner garage kept car with 77,000 miles on it. Outstanding condition with the top silver paint being new.

Paid $18,600 for it at the dealership with a 50,000 mile warranty. It was near top dollar for a 78 but it's certainly a top drawer car.

The value of C1 Corvettes certainly isn't declining. The people paying 6 figures for them were born when the cars were 10 to 15 years old.

To think any Corvette will fall in value over the long run is certainly not founded in historic data on values. Eventually, even the C4's will be on the upswing.....about the time the C3's get out of reach!
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Old 08-04-2017, 11:37 PM
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Well this is not relative to the overall price of a Corvette but here is how I see it. (By the way I really find that exportation of a Vette idea very interesting . Nothing more Americana than a Older Vette in the eyes of the rest of the world. As we continue to become a global economy I can see the demand for Vettes from overseas exploding!!)

If I go buy a nice and expensive 2017 car, no matter what it is, it will depreciate quickly and the $$ will go out the window. Plus they are ugly, well most are. So I choose to drive a used older car, nothing fancy as a daily driver and I hold onto to it for a while. I then redirect the money I have saved, in my eyes, to buy my Corvette. Beautiful styling, a classic American muscle car that I used to only dream of having. And yes they may not go up in value but they certainly won't depreciate as fast as that new car will. Ike

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Old 08-05-2017, 03:26 PM
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The BEST VALUE for a Corvette with good handling and and ECM controlled drivetrain are early 90's C4 models. If I ever sell my '71, I'll be in the market for a '93-94 Corvette that has been well cared for. Got all the 'creature comforts', great handling, good looks (maybe not as good as the C3, though ), good mileage, etc. etc.

I think a lot of folks see these 'more recent' cars as a better way to go than the pre-electronic C3's. That's also why resto-mod C3's with modern drivetrains are selling well. Very few younger folks want to do any mechanical work on their car. Put gas in it, wash it, and take it to the oil change place for maintenance.
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Old 08-05-2017, 11:08 PM
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Originally Posted by 7T1vette View Post
I think a lot of folks see these 'more recent' cars as a better way to go than the pre-electronic C3's. That's also why resto-mod C3's with modern drivetrains are selling well. Very few younger folks want to do any mechanical work on their car. Put gas in it, wash it, and take it to the oil change place for maintenance.
I've got a 78 which has not given me 5 seconds trouble, runs like a Timex watch and gets about 18 to 20 on the road. All without the added expense and risk of breakdown computers bring. As long as there is spark, fuel and oxygen, my car will run. No so simple with MAF, MAS, O2 sensors, etc, etc, etc.

Put gas in it, wash it and change my own oil is about all I do!

I can buy a lot of gas and carb rebuilds for what computer sensors and fuel injectors cost!

Last edited by tomvr; 08-05-2017 at 11:09 PM.
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Old 08-05-2017, 11:36 PM
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Way back on 5/10/76 I paid $8126 for my baby.....

A couple of years ago at a car show I was offered $16k.....

So I've seen my Vette double in value....

It only took about 40 years.............
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Old 08-06-2017, 04:49 AM
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Originally Posted by SEVNT6 View Post
Way back on 5/10/76 I paid $8126 for my baby.....

A couple of years ago at a car show I was offered $16k.....

So I've seen my Vette double in value....

It only took about 40 years.............
As long as you're not factoring in inflation.
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Old 08-06-2017, 09:19 AM
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I don't care what my car is worth! When I can't get in and out anymore my son gets it. And I hope I'm around long enough to see my grand daughter drive it!
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Old 08-06-2017, 10:12 AM
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Worrying about worth is work if its that big a deal sell it and pay those credit cards off noones retiring off these.

Say they did increase, by the time you factor in ins, registration and maintenance youve gained nothing most times

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Old 08-06-2017, 11:44 AM
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What something is worth is relative to what our currency is worth. A $100 bill today buys what $16.57 did in 1970.
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Old 08-06-2017, 01:21 PM
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Originally Posted by 7T1vette View Post
The BEST VALUE for a Corvette with good handling and and ECM controlled drivetrain are early 90's C4 models. If I ever sell my '71, I'll be in the market for a '93-94 Corvette that has been well cared for. Got all the 'creature comforts', great handling, good looks (maybe not as good as the C3, though ), good mileage, etc. etc.

I think a lot of folks see these 'more recent' cars as a better way to go than the pre-electronic C3's. That's also why resto-mod C3's with modern drivetrains are selling well. Very few younger folks want to do any mechanical work on their car. Put gas in it, wash it, and take it to the oil change place for maintenance.
I had a loaded 94. Torch red with a black sport interior. I loved that car. If it was a convertible I would still have it.
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