What Does The Future Hold For C1 and C2 Classics

[Jaime G.]

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

Now here is the deal; old cars and corvettes are worth whatever someone will pay for them; I have owned 18 in my lifetime, including 4 I bought new. My '65 big block Top Flight car failed to start when I left a car show last Sunday; I had to have it "flatbed" home; darn TI system, I have not figured it out yet but I will because I love it/them and I have worked on them for >50 years. Young guys mostly won't do the work and invest time it takes to keep them running. My bride of over 50 years said why don't you sell them old cars and get a new one...so I went and ordered a 2017 ZO6 stingray white/red coupe, remember it was her idea
It is only money, I could get it back by working If I died tomorrow my 50 year old son would have them sold before the funeral.
So if you got 'em drive them and don't worry what they might be worth someday; you and they are here now, enjoy them.
Have fun, I am...

Well said George. You will figure out the Ti issue in time. You will definitely enjoy your Z06. I have a 2016 Z06 coupe which is a world car.
I have also owned over 12 corvettes over my lifetime. I currently own 7. I have gone thru the "system" and received Duntov's and BG on all.
I am currently campaigning a 63 SWC Fuelie.
I have enjoyed the ride even with the judging challenges along the way. I never considered what the cars would be a great investment but rarity and condition has proven me wrong. I will continue to selectively sell my cars until I get the number down to 3 which is the right number for me.
Good RARE cars appreciate. ordinary cars although sentimental rarely appreciate. Fortunately my daughter and wife have promised that they will wait at least one week after I die before they sell the cars. Enjoy, have fun, and get rid of them if you have a better place for the money.

[John M.]

[Michael G.]

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

Hi Michael,
I mentioned that "…..the values for C1's have fallen". I want to be clear about that statement. C2's remain high, especially well optioned, high HP cars. I still maintain that C1's are not as highly valued as they were in the past. I own a Top Flighted 62 fuelie. It's an original fuelie. The price for that car, possibly the pinnacle of the C1's (along with the 57 fuelie), has fallen. Wouldn't you agree?
John

Yes John, that may well be the case. Not owning one, I haven't paid such close attention to the price trends of C1's. Yours would have to be considered a pinnacle example of the breed, no question, and ought to at least hold its value if not steadily increase. It's possible that C1's have faded a bit relative to C2's. maybe due to a perception among collectors that midyears were an improvement over their predecessors - both aesthetically and functionally - much as C3's are viewed by many as a step backwards, which is also reflected in their valuation.

I'm probably not making many friends amongst the C1 and C3 owners by expressing those viewpoints, but it's just my opinion and I could certainly be way off base here.

[Daniel L.]

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

I bought a 1962 327-300HP Corvette in 1981, performed a ground-up restoration in 1985, and parted with it in May of this year after 35 years of ownership. When I had an opportunity to acquire an almost new C7 in a trade for the 62 I made that move. As nice as the 62 is to admire, drive and enjoy, and as easy as it is to maintain, I also appreciate the advanced technology built into the newer Vettes and look forward to a different type of experience driving the C7. I see a similar trend among other long-time wrenchers of older cars and street rods: they are migrating to the newer sports cars that offer advanced technology, creature comforts, and performance and safety improvements not available on early performance cars like the C1 or C2. Another item sometimes surfaces in discussion about why long-time owners part with their older Corvettes. These older owners mention that physical limitations from bad knees, backs or hips now hinder entry or exit into these cars or make shifting difficult, so they make a practical move to a later-model vehicle, even if not a Corvette, that is more accommodating to these limitations.

Consistent with earlier discussion, this trend increases the available supply of the C1s or C2s, but it does not necessarily increase demand among older enthusiasts.

[Ed H.]

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

This Summer I had to hire a high-school kid to do some programming for me. (Pretty embarrassing - I earned my living for a year doing Fortran.)

Looking in the garage, "Oh, sweet. What year?" 1970, I replied. "Big block?" No, it's an LT-1. Before I got a chance to ask if he knew what an LT-1 was, "Holy Sxxx! An LT-1! Unbelievable!"

He's majoring in Mechanical Engineering...

[Mark E.]

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

These older owners mention that physical limitations from bad knees, backs or hips now hinder entry or exit into these cars or make shifting difficult, so they make a practical move to a later-model vehicle, even if not a Corvette, that is more accommodating to these limitations.

Consistent with earlier discussion, this trend increases the available supply of the C1s or C2s, but it does not necessarily increase demand among older enthusiasts.

A nit, but you're describing a decrease in demand, not an increase in supply. Supply for these cars is fixed, maybe going down a bit as they're totaled or cannibalized.

[John M.]

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

Dan. I agree with many of your points, but a lot of 50's, 60's, 70's and 80's cars have shown incredible appreciation during the same time that the C1 prices have flattened out. Take a look at Porsche and Mercedes SL values. Porsche 911 prices have soared, as have MB 190SL, and 230-280SL prices. 80's Ferrari's have gotten very expensive. And those 308's and 328's were not the best Ferrari examples. Yes, people are buying newer Porsches and Mercedes for the comfort, safety and performance, but it has not hurt those old car values at all. Maybe the European old car market is just strong right now.

[Mark E.]

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

Dan. I agree with many of your points, but a lot of 50's, 60's, 70's and 80's cars have shown incredible appreciation during the same time that the C1 prices have flattened out. Take a look at Porsche and Mercedes SL values. Porsche 911 prices have soared, as have MB 190SL, and 230-280SL prices. 80's Ferrari's have gotten very expensive. And those 308's and 328's were not the best Ferrari examples. Yes, people are buying newer Porsches and Mercedes for the comfort, safety and performance, but it has not hurt those old car values at all. Maybe the European old car market is just strong right now.

Good point. So older Corvette prices are an anomaly in the marketplace? A couple of guesses for this:

- Demand. Vintage Corvettes have enjoyed a loyal following for a long while. Steady demand ==> steady prices. In contrast, the other cars your describe have been recently "discovered" by collectors. Increased demand ==> higher prices.

- Supply. Corvettes were produced in greater numbers than Dinos and SLs. And years of low market values coupled with super high maintenance/repair costs means the survival rate for Dinos and SLs may be less than Corvette's.

[Daniel L.]

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

A nit, but you're describing a decrease in demand, not an increase in supply. Supply for these cars is fixed, maybe going down a bit as they're totaled or cannibalized.

Mark, I agree with your point that the supply is not increasing. I should have clarified that I was referring to the number of these cars that become available in the marketplace after having been owned for long periods of time by their owners.

[Frank D.]

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

Well, a 427 Cobra was one.

That avatar is very sobering.
I wonder if the driver suffered some permanent injury that he/she may have to deal with for the rest of their life?

Is so, some would consider it pretty inappropriate and somewhat creepy; others prob could care less...

[Francis F.]

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

Leif, First of all I agree with your thoughts on the subject,Secondly just last week on two occasions that "YOUNGER PERSON " came up to me and asked if it would be ok to snap a few photo's with his smart phone....(car in point 1966 coupe (trophy blue).And no I was not at a car shoe, just getting gas /and shopping.
The thrill does and will live on to be sure.

Francis

[Brady C.]

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

Cars will always go up and down in value but the more I enjoy the hobby it is Becoming less about the cars and their values and more about the people I have met along the way......NCRS has become about the friendships I have made around the country and the cars are a bonus from those friendships.... We can't take any of these cars with us but the friendships, we can!!!,

[William F.]

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

Newer "sports cars", newer Corvettes included, are more technologically advanced, but they'll never be considered classics. We own C1's and especially C2's because they are recognized as classics and have nostalgia and history.A Mercedes 300 SL is not as advanced as a new Mercedes, same as comparing a new Ferrari to a 60's 250 GTO but these classics will always be worth more than the newer models because they are recognized as classics. In a few years the C7 Corvettes will be just used cars, as are most of the C3's, almost all C4's, C5's, and C6's(which at least had round "Corvette" tail lights.) An opinion, yes, but don't think you can make a legitimate argument against a car recognized as a classic, in the examples I have given, always being more desirable and more valuable.

[Mark E.]

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

Newer "sports cars", newer Corvettes included, are more technologically advanced, but they'll never be considered classics.

Never say never. Remember when only pre-war cars were considered a classic?

With that said, you may be right. Can you imagine 50 years from now how daunting it will be to completely restore a 2017 Corvette? The complexity and cost of the project must be an order of magnitude greater than restoring a pre-electronic car.

So maybe future classics are mostly survivors, not restored?

[Steve B.]

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

I couldn't even imagine what the cost would be to restore a 2017 Z06 in 50 years. Newer cars are way more reliable but are not as easy to rebuild like the older cars. An analogy would be a modern TV vs. one with from the 60s.