I expected prices to drop in this market. I also understand verts will generally fetch more than t-tops, but this is low to me for a restored 427/400 numbers matching 4-speed tri-power. (early 69). It looks like we're really starting to see a noticeable difference with this market downturn on classic classic cars.

https://www.ebay.com/itm/32577329142...Bk9SR-KBnNPNYg

 

I agree...looks like a desperate seller. When I commented in another thread about the current lousy market conditions (looming recession and stock market crash) I was told not to say such things because my comments, if repeated enough, is what will cause it to happen. What do you think?

 

I personally think it's in the correct range if not too far off. Curious, what kinda numbers / range were you thinking it should be ? Tank sticker says it was an export order ( Canada ?? ) or ??? That's kinda interesting ....
After all, it is a coupe, it is a more commonly seen color, & 400's don't do 435 money.

 

Agree that 435 Tri power cars will always fetch more money, but the 400HP (also Tri-power) cars are actually more rare - less were ordered in '69 than the 435 cars. Two years ago, this car would have been listed somewhere in the neighborhood of $80K. I've been following prices for many years, and prices are absolutely coming down.

 

I guess some folks like to bury their heads in the sand and pretend everything is just peachy. You made a great point about the stocks, which I also made a few months back in another post. Denying reality doesn't change the reality. Classic cars are basically equities that you can drive and, yes, they can skyrocket and crash just like equities. I've seen great companies with low debt and excellent earnings get pumped up during the pandemib and then just take a dump last year. The financials didn't really change enough to justify the precipitous drop - the sentiment did.

The market has favorites and it has losers, and they can swap roles on a dime depending on sentiment (and/or of course bad corporate decisions). Stocks, classic cars, sports cars, boats are the first things to go in market downturns when folks start panicking - justified or no. That's just a reality. The world saw it in '87, 2000, 2008, and we've been seeing market corrections for well over a year now. It'll eventually crash, but then will recover someday, and then eventually return to a level that is higher than the peak of the previous boom and continue its upward trend until it happens again, and again and again. All anyone has to do is look at the market trends over the past 100 or so years to see that.

I've seen huge increases in asking prices across the board leading up to this the past several years - Porsche 911SC coupes that you could buy for around 10-12K 15 years ago are now in the 40's. 944 Turbo's and Porsche 928's all day long you could buy for well under $10K for nice examples have all seen significant gains (I bought a decent and nice running 5 speed 86 928S for $2500 back in 2014 - that same car has more than quadrupled in price in the past 5+ years).

I think we're going to continue to see the market for these cars continue its downward trend. Things went up too much too fast and are now due for correction, just like many stocks that are now 50,60,70% in the tank from year+ ago highs. Housing is the same way - the market was on fire for the past 3 years, and with rising interest rates, is cooling that market down too. I could go on and on with data and details, but this is not the forum for that.

 

me running to check my accounts, = only down 2.000.00 from a year ago, guess I don't have to sell mine YET, guess I'll survive a bit longer

 

After retiring early from a power generation sales career, I continued as an independent certified residential real estate appraiser from 1996 until the 2008 downturn gives me just a little insight into market conditions and valuations.

 

There are so many reasons why that could be, and I have no idea what your portfolio looks like. It's like saying "it was a decent day today" - why was it decent? Does is usually deluge on that day, and it merely sprinkled or didnt rain at all, did someone who normally scoffs at you turn to you and smile? Did you lose all your money and gamble the family farm away at the horse races, but then on the same day, win the million dollar sweepstakes? etc etc....

Maybe you stayed away from the 5 year market run altogether, or participated and at least sold enough of your equities when they were at or near their peaks to make up for a majority of losses that started to manifest in the latter part of '21. Maybe you only have $10K in your portfolio, when it was originally $12K the year before, or you took major losses on some of your equities, but the losses were largely offset by major gains in others, etc etc..... could be anything.

I can't gather anything from your statement with the data I currently have about your portfolio, which is none.

 

Hagerty's July '23 value on a '69 L68 Coupe in #2 excellent condition is $55,900...

 

This holds true for 68's as well. Only 6.75% were ordered with 400hp when this is broken down only by coupes vs convertibles & sticks vs auto's that isn't a lot of cars produced period.. 10.5% were ordered with 435hp ........... almost double the amount of 435's were built compared to the 400's yet the 435's always do more money, and they seem to sell faster / more desirable. $80k for a coupe nothing erotic / exotic other then the 435 tri-power sounds a bit high to me, but i'm NOT the official price guide, was just curious.

 

Hagerty shows the same car at $69,900 if it was a L71.

L89....$107K..

 

What does it have to say these days about a 68' cnv 4spd 400hp ?

 

'68 L68 Roadster in #2 excellent $69,400

#3 good condition $38k..

 

This is as obviously more people 'wanted' the 435's vs. the 400's, and this seems to still be the case today. Remember, scarcity alone, doesn't always make for sought after, and/or valuable.

Scott.

 

]]Probably, and there was only a $110 price difference for the L71 over the L68, which, adjusted for inflation is about $1000 in today's dollars. Even if buyers had to deal with the pain of adjusting L71 solid lifters over the L69's self adjusting hydraulic units. It's a pretty safe assumption that folks who could afford the L71 weren't worried about the menial price difference between the L68 and L71. Similar deal between the base, L46, and LT1 in MY 1970......

On the other end of that argument, the most popular 427 offering in L36 form was by far the biggest seller of 69, selling well more than 10K units that year. L68 - almost 2100 an L71 a bit over 2700.

You know what the difference between the L36 and L68 was? $105.00, or just under $900 in today's dollars, so perhaps 3x2 scared them, because it couldn't have been price.

Jumping from L36 to L71 was not terrible - $216 or $1800 in today's dollars. By far, the L36 was the most popular option amongst the big blocks in '69. So is the l36 the most desirable by that metric? Not by today's standards, and I'm sure had buyers known what the L71 would be worth today, we'd have a lot more L71s floating around.

When the base Corvette MSRP was around $4400-4800 for convertible and coupe respectively, what is $105 or even $216 to go from base L36 to fire breathing dragon L71? Maybe some buyers were more interested in all the other options and chose to opt out of the top engine options.

In other words, choosing to go with A/C, PW, PS, PB and skipping the engine upgrade options. If that's the case, those old enough to have purchased one of these new are probably kicking themselves for not going with L68 or L71.

I could understand buyers not opting for the L89 427 because what was a chunk of change ($7,000 in today's dollars) or the L88 427 which was even more expensive at $8,600 (in today's dollars), but not the L68 or L71.

 

Then the old saying still holds true, when the top goes down the price goes up !!! ............... A LOT !!!
Thanks !

 

I had a 69' 427/400 4 speed Vert with A/C......the A/C added a huge amount of value to this car as it wasn't very common and it is desirable for obvious reasons.......in fact, the restoration shop that bought it purchased it because it was a L68 Vert wA/C......

Jebby

 

I go to a classic car auction in Greensboro NC three times a year. I have not seen much change in prices over the past few years and about 90% of the 600-700 vehicles sell every auction.

Ive been expecting a deterioration in the economy for a while but it doesn't seem to have happen- yet.

The biggest influence on the the classic car market is me. When I want to buy prices go up. When Im trying to sell- they go down.

 

Except for example in the newly collectable FOX Mustang market where the cheaper LX Coupe ("notch-back" or trunk model), 5.0, 5 spd., is generally coveted more by the knowing enthusiasts than the GT's ("hatch-back") or the convertibles.

Sorry, for mentioning foreign makes to this forum, please don't banish me for this blasphemous act! I'll try not to do it again...............maybe.

Scott.

 

Mustang................ Mehhhhhh ..................... nahhhhh !!!