What Does The Future Hold For C1 and C2 Classics

[Edmund C.]

Gents: As we get older and our beautiful Corvettes remain ever youthful (like a portrait of Dorian Gray) what do you think the future holds for them? Will they decrease or increase in value? I'm leaning towards the former. As kids we were all car nuts. Yet, my kids are kind of indifferent as are their buddies. The next generation doesn't seem to covet them the way we did. The reason I'm asking is before I lay out $150K to $220K for a NCRS Top Flight quality rare C2; I've got to ask myself if it makes sense in the long run. Case in point, a buddy of mine has 2 barns jamb full of Ford Model As and Ts (and even boxes of NOS parts) He got most of them for free in the last 7 years. He was always considered the young guy in the New England group of folks that collect these neat cars. In application, as these collectors moved onto their great rewards, their families wanted them to be cared for and gave them to my buddy Michael. I don't mean to be a bummer, yet, what do you guys think? In the meantime, I'm headed out for a fast top down blast in my Rally Red time capsule. Carpe Diem. Best, Ned

[John F.]

Re: What Does The Future Hold For C1 and C2 Classics

There will always be car guys. But cars are like houses, they are only worth what some fool will give for them. Pay what you feel it is worth to you, enjoy the ride, and then let your heirs worry about it.

[Kenneth B.]

Re: What Does The Future Hold For C1 and C2 Classics

I think that classic cars will keep there value. Corvettes,Cameros,Mustangs, single seat Thunderbirds some muscle cars ETC will hold there value with younger people. while run of the mill old Fords Chevys & Mopars will not. I bought a 1936 Cord phaeton because of the classic look. The cars that are rolling art will always be in demand.

[Jim D.]

Re: What Does The Future Hold For C1 and C2 Classics

I think that classic cars will keep there value. Corvettes,Cameros,Mustangs, single seat Thunderbirds some muscle cars ETC will hold there value with younger people. while run of the mill old Fords Chevys & Mopars will not. I bought a 1936 Cord phaeton because of the classic look. The cars that are rolling art will always be in demand.

About 15 years ago, I restored a 57 T-Bird for my wife. I was a member of the CTCI where I was by far one of their younger members at the age of 45, most were in their 70's. The price of restored T-Birds by the well known restorer Amos Minter was over $100K. Today, the majority of those members have passed away and Amos Minter cars fetch less than half what they used to.
The actual selling price of C-1's has been slowly dropping for the last few years and I see no reason for that to change. Eventually, the same will happen to C-2's and so on.
This has happened to every era of once very desirable classic cars. Model A's & T's, 32 Fords, 40 Fords, 55-57 Chevy's etc. It's simply supply and demand. As those that demand them pass away, the supply goes up and the price goes down. It's been proven time and time again and please don't say "But Corvette's are different". They aren't.

[Michael J.]

Re: What Does The Future Hold For C1 and C2 Classics

I do hope they will continue to be valued, at least the rare and excellent condition ones, like the Dueseys and Auburns and Cords, etc. today, even if those who actually owned and craved one new have died off for the most part. Hard to tell though, in a few decades most people who owned a C1 or C2 new will also be gone, so it is up to the younger generations.

[Leif A.]

Re: What Does The Future Hold For C1 and C2 Classics

We own them because we love them. We enjoy looking at them, talking about them and (especially) driving them. I have no real concern as to the future value of my car...it will be worth what it's worth when the day comes. I have neverr owned one single classic car with future value in mind...that, for me, would take the enjoyment out of ownership (worrying is such a sinful waste of time). As stated, let the heirs worry about future value. In the meantime, drive the wheels off your classics. Hopefully, that's why you bought them in the first place.

[Carl N.]

Re: What Does The Future Hold For C1 and C2 Classics

Ned, my nickels worth. I feel the value drop has begun. Look at what restomods are bringing and I feel this too will pass. Remember the station wagon phase about 15 years ago. I have driven a C2 almost weekly since 1970. Nothing I can discuss on this forum other than driving my C2 gives me enjoyment and the thrill of open roads in the Texas Hill Country. I spent many a year doing NCRS, NCCC and Bloomington Gold and do not miss it at all. I would suggest passing on a full blown number match rare ride and pick up a really nice driver and explore the joys of driving the cars as they were intended. Last, do not consider these as an investment, unless you find one of the really rare ones cheap and flip it fast.

[David R.]

Re: What Does The Future Hold For C1 and C2 Classics

I didn't buy my 1962 as an investment - I bought it as a retirement gift to myself. I enjoy it every time I drive it, and I have met some great people at the local shows and on forums like this. As to what the future holds - no one knows for sure. In my opinion, C1 and C2 (and increasingly, C3) Corvettes will continue to be valued and collected. Those values may fluctuate up and down, but I don't see the bottom ever falling out. I bought mine right, have preserved and maintained it well, and don't foresee it ever being worth less than the reasonable price I paid for it. If I factor in the enjoyment of owning it, I'm still way ahead. I may not get rich on it, but I never intended to.

[Rich G.]

Re: What Does The Future Hold For C1 and C2 Classics

A lot has to due with the economy. If you watch those Antique Roadshow episodes where they compare then and now, many items are appraised less or the same as they were 10 years ago. A small percentage go up in value, usually artwork. If you really want to lose money, go into antique furniture.

I have one vintage guitar, a 1939 Gibson J55. Appraised several years ago at $10k. I bought it for $8K. Appraised today for $10K. I'd be lucky to sell it for eight. Even the holy Grail 1959 Gibson Les Paul models that were selling over $300K ten years ago are selling for a bit more than half. When people have money they buy toys. Disposible income has been shrinking, not growing.

Rich

[Edmund C.]

Re: What Does The Future Hold For C1 and C2 Classics

Gents: OK, I am back from a road blast in Texas with my '66. My hair is sticking up straight and I have a couple of bugs in my teeth. These great cars make us all happy and a kindred family of sorts. I agree with most of you. I'm in it for the thrill, smell and sounds - exclusively. Heck, I've had my High School ride since '77. Yet, prices will inevitably drop (e.g., T Birds, 57 Chevy's, Shelbys, HEMI Mopars, Cords, rare GTOs, etc. are all much cheaper today than 7 years ago - I track the auctions monthly like we all do) and they are even talking about driverless highways within 25 years. Certain cars will always have an intrinsic high value, yet, the roadways are "a changin." Last month, one early morning on my commute I raced a guy from a light (l was in a new Challenger SRT 8 470hp and he was in was in an electric car ... I got smoked. Bottom line, I plan to enjoy today and not worry about it too much. Albeit it does make me nostalgically sad for the days of the excitement and pomp of the Annual New York Auto Show. Have a great weekend boys. Peace. Ned

[Mark H.]

Re: What Does The Future Hold For C1 and C2 Classics

Slightly off on a tangent here. I was over at Autobooks in Burbank a couple Saturdays ago and there were these two guys about my age (i.e. semi-old farts) talking and one of them said, "Cars were a 20th century hobby, they're not a 21st century hobby." I have to agree with him on that.

[Bruce W.]

Re: What Does The Future Hold For C1 and C2 Classics

I have three Duntov C1's 57,58,62. My son worked with me on my 62 thru to Duntov. He is now 40 years old has a son and another on the way. He thinks the cars are neat but if I passed away tomorrow and he inherited the cars he would sell them ASAP. Why? he doesn't have the time, the energy or the money to maintain them. The passion for these cars is not there. Also my Son's generation is not as well off financially as our generation. The reality is as we die off the value of these cars will go down. I remember when a restored Model T went for $50.000. You can buy them all day for $15,000. This is a hobby not an investment. No one makes money on hobbies. If you will need the money for your retirement, sell now it is not going to get better. But the way I am still going to buy!! you can't take it with you.
Bruce

[Edmund C.]

Re: What Does The Future Hold For C1 and C2 Classics

Gentlemen: Enough said (at least from my humble view); our Corvettes Rock and we're all getting smarter and better looking each day. Sorry to be such a bummer with this posting. I'm looking forward to hoisting a cold beverage with you and toasting Messrs. Mitchell and Duntov while we are in Frisco next month with the Brotherhood. Best, Ned

[Frank D.]

Re: What Does The Future Hold For C1 and C2 Classics

I sold my '61 last month for about $10K-$12K less than I could have gotten 3 years ago IMO....and; it took 7 months to get my price.
A solid, 98% original dual quad, 270hp car you could drive across the country without a second thought. A single data point I know -- but with driverless cars on the horizon and facts like half the kids first eligible for their drivers' licenses don't bother to take the test I think the writing is on the wall. The Lakeland NCRS meeting last January was pretty emblematic. Lots of older folks with a smattering of younger people attending.

The coming generations don't see these cars as paths to independence, viscerally thrilling or even as competitive objects to race or show...
We are at the beginning of the end of the hobby..

[Dan D.]

Re: What Does The Future Hold For C1 and C2 Classics

Not to beat the subject to death, and, I would never presume to tell another adult what to do. All I can relate what I decided to do years ago when I found myself with a bunch of cars that I wasn't driving, not really enjoying, paying a lot of insurance, being concerned over proper storage and...you know the drill. Anyway, I made up my mind that I needed only one "toy"that I would actually drive and enjoy. You know, actually park it on the street and go into a restaurant. I'm an old man and I've spent my whole life around the automobile business. It's been my experience that unless you're a dealer, more often than not, money put into cars would have been better off invested elsewhere. Of course there are always the "home run" stories, but they are the exception rather than the rule.