C2 Car Prices Have Just Skyrocketed in The Last Two Years

[Larry E.]

Always like to look at the auto market and car auctions like Barrett-Jackson and Mecum's. When looking
at Mersons in Springfield Oh. as an example I see that $69,900 was lowest price of their C2 stock which was (13) this AM.
I realize that these are the "Asking Prices" and the actual "Selling Prices" will be different. Also noticed that
the "Coupe" Prices now have equalized with the "Convertible" prices. The cars I noticed are very very good cars
but not great cars. eg.>Bloomington Gold and NCRS Top Flight. Comments Please>Thanks>Larry

[Frank D.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

As most financial wonks will tell you - when you see irrational valuation and irrational exuberance; beware - its a bubble.

I sold my splint window 3 months ago for 50% mroe than it would have brought two years ago, word-of-mouth private sale for "have to sit down and take a breath" amount of money. Base motor, Vintage Air, red/red car, badly wrecked but exquistely repaired.

IMO - if some are considering selling you couldn't pick a better time.

[Mark F.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

Hmmm, I'm not insured by Hagerty, but their tool presents itself as having some rigor. You can also drill down to your year and also close to your option combinations... https://www.hagerty.com/valuationtoo...-Market-Rating

They call the current market "EXPANDING"
I'd love to see the real math behind it along with their sample sizes and what models are included.

Current rating:	152.37	Sep 2021
All-time high:	186.43	Aug 2015
Five-year high:	168.29	Oct 2016
Five-year low:	135.14	Sep 2020
1-month change:	+3.13	Aug 2021
12-month change:	+17.23	Sep 2020
36-month change:	-0.90	Sep 2018
60-month change:	-17.91	Sep 2016

[William F.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

"asking price" at Mersons as an indicator?? Not so sure

[Frank D.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

"asking price" at Mersons as an indicator?? Not so sure

Not by a long shot; and then the word-of-mouth sales are totally uncounted as are Cars For Sale transactions on sites like the Corvette Forum.
These, to me, are much more indicitive of what the smarter, informed buyers/sellers feel are true valuations.

I won't even share all of the C2s/C1s I've seen at car shows, etc. where the proud but unkowning buyer paid a premium price for a bad, bad car...and I bet those get counted. I won't even tell you what this Mecum buyer paid for this gem that he asked my opinion of post-sale. The sales hype would have you believe this was a number 2 car.

[Mark E.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

Gee, if C2 values are skyrocketing I wonder what's happening with the more desirable C3?

[Larry E.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

Gee, if C2 values are skyrocketing I wonder what's happening with the more desirable C3?

Mark; Maybe on Mars>Ha Ha

[Joe L.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

Not by a long shot; and then the word-of-mouth sales are totally uncounted as are Cars For Sale transactions on sites like the Corvette Forum.
These, to me, are much more indicitive of what the smarter, informed buyers/sellers feel are true valuations.

I won't even share all of the C2s/C1s I've seen at car shows, etc. where the proud but unkowning buyer paid a premium price for a bad, bad car...and I bet those get counted. I won't even tell you what this Mecum buyer paid for this gem that he asked my opinion of post-sale. The sales hype would have you believe this was a number 2 car.

Frank-------


Many years ago I was actually looking to buy a 1965-66. After looking at many, I came to the conclusion that there were so many cars out there that had serious problems (frame, birdcage corrosion; previously wrecked and repaired; "straightened" frames), I got completely out of the market and never looked back. Lots of folks seem to forget that these cars that many consider "classic" and "iconic" were once simply drivers. Many were wrecked and repaired. Many were driven year round in "rust-belt" areas of the country. Many passed through multiple owners and were once seen for sale in used car "pot lots". Bad cars can be made to look good, but the beauty can often be only skin deep. I came to the conclusion that for many cars the cost to make them right equaled or exceeded the value of the car when made right. In other words, the fair price for the car as-is is ZERO. Not many sellers are willing to accept that fact. Indeed, about 25 years ago I told the owner of a 1965 coupe I was looking at that if he offered to give me the car, I'd have to think about it.

[Michael J.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

I really hope they are skyrocketing, I have a '64 up for sale right now......

[Gary J.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

Also take a look at the C10 truck prices, especially ‘67-‘72. It has gone crazy too. ‘73-‘87 are coming on strong too, even Blazers are hot too.

[Bill W.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

Joe,
A lot of what you say about used Corvettes is true, but then there are one owner Corvettes like yours and mine ('66 350 hp. coupe) never wrecked or rusted/damaged that a knowledgeable buyer will recognize and happily pay the asking price. I must admit, these Corvettes are few and far between and there are many pigs out there with a fresh coat of lipstick. Take care and hang on to the good stuff.

[Philip A.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

Frank-------


Many years ago I was actually looking to buy a 1965-66. After looking at many, I came to the conclusion that there were so many cars out there that had serious problems (frame, birdcage corrosion; previously wrecked and repaired; "straightened" frames), I got completely out of the market and never looked back. Lots of folks seem to forget that these cars that many consider "classic" and "iconic" were once simply drivers. Many were wrecked and repaired. Many were driven year round in "rust-belt" areas of the country. Many passed through multiple owners and were once seen for sale in used car "pot lots". Bad cars can be made to look good, but the beauty can often be only skin deep. I came to the conclusion that for many cars the cost to make them right equaled or exceeded the value of the car when made right. In other words, the fair price for the car as-is is ZERO. Not many sellers are willing to accept that fact. Indeed, about 25 years ago I told the owner of a 1965 coupe I was looking at that if he offered to give me the car, I'd have to think about it.

I had the same experience over 15 years ago but did manage to find that one solid car that ticked all the boxes. Through that experience I realised that most of the cars out there are junk and the buyers uninformed (or delusional), which unfortunately is the market. When you have that solid car you are selling it needs to meet that informed buyer, and I think most of that occurs in private non-open market sales. Oddly I found my car publicly advertised (online) but it was local and I was the first person to look at it.

[Larry E.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

I had the same experience over 15 years ago but did manage to find that one solid car that ticked all the boxes. Through that experience I realised that most of the cars out there are junk and the buyers uninformed (or delusional), which unfortunately is the market. When you have that solid car you are selling it needs to meet that informed buyer, and I think most of that occurs in private non-open market sales. Oddly I found my car publicly advertised (online) but it was local and I was the first person to look at it.

On the above quotes starting with Joe's I must be missing something. Can't you say all those comments apply to all cars; including special
cars? Would they not apply to a 65-66 Mustang? I do not see anything in those comments that are unique to Corvettes. JMHO Larry

[Mark F.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

On the above quotes starting with Joe's I must be missing something. Can't you say all those comments apply to all cars; including special cars? Would they not apply to a 65-66 Mustang? I do not see anything in those comments that are unique to Corvettes. JMHO Larry

Hi Larry, I think the comments would apply to '65/'66 Mustangs. I bought a Pennsylvania "bucket-a-bolts" as my Grampy called it - red/black '66 Fastback in 1972...I needed a cheap, "transportation special" to get to school and back and I knew it was no gem! Opened the teeny-tiny deck lid one day and the rear spring shackle was in the trunk rather than under the car had to junk it - straight 6; 3-on-the-floor...sad.

But, the big difference I see here is 559,451 Mustangs were made in 1965 and 607,568 in 1966 (1,167,019 for just those two years!). With that much availability (22+ times Corvette production for those same two years), '65/'66 Mustang buyers have 95% more stock to look at (whatever survived the junk yards) so the sellers have to be much more careful about overstating the facts about their car's condition. IMO, Corvette rarity can generate overexuberance (maybe on both seller and buyer sides).

[Joe L.]

Re: C2 Car Prices Have Just Skyrocketed in The Last Two Years

On the above quotes starting with Joe's I must be missing something. Can't you say all those comments apply to all cars; including special
cars? Would they not apply to a 65-66 Mustang? I do not see anything in those comments that are unique to Corvettes. JMHO Larry

Larry------


My comments absolutely apply to all old cars, not just Corvettes.