Vettes

[Brad H.]

Are we seeing the costs of our cars going way down, it seems that there are a lot of real nice cars, all years, with price tags that makes you want to go out and buy several. Brad.

[Steve B.]

Re: Vettes

Brad, I am a firm believer that the truly great cars will always be worth good money. Cars with stories have taken a big hit. A wise man once told me to never buy something that you wouldn't mind keeping, afterall this is supposed to be a hobby.

[Bill I.]

Re: Vettes

There is an expression used on Wall Street. It applies here to the down economy. Kinda of works with our cars IF you are a buyer. "When there's blood on the street, it's time to take a walk in the street". Bill.

[Paul H.]

Re: Vettes

It is a buyer's market for sure. It mirrors the economy. The old Corvette prices will recover as the inevitable recovery of the economy occurs.

Bottom line: If you have them, keep them and enjoy them. Their appreciation is a nice by-product of all the enjoyment they bring but shouldn't be the driving force to own them.

[William L.]

Re: Vettes

I heard today that the Corvette plant is only running 8 jobs (Cars) per hour. That's not good, and they only run one shift now.

[Joseph T.]

Re: Vettes

Premium cars and premium parts will bring a premium return

[John H.]

Re: Vettes

I heard today that the Corvette plant is only running 8 jobs (Cars) per hour. That's not good, and they only run one shift now.

Bill - The standard rate at BG has been 18 per hour, and it was reduced (to 12-14, as I recall) when they came back from their last extended downtime spell. Bowling Green has always run only on one shift.

[William L.]

Re: Vettes

Bill - The standard rate at BG has been 18 per hour, and it was reduced (to 12-14, as I recall) when they came back from their last extended downtime spell. Bowling Green has always run only on one shift.

Thanks John.
I guess the important thing is, they are still building them..

[Ridge K.]

Re: Vettes

I agree with Steve and others that have said the truly great cars still bring good money.
This summer I put 10K miles on the car driving from the Pacific coast, to the Arlantic seaboard. Hit the National convention, a week at carlisle, and every Corvette venue in between. Average cars, and not so popular colors, or option packages were priced a little lower. Rare Corvettes seemed to me to be hanging tough, and some Corvettes that were a little but soft in the market a few years ago (thinking of '55s), seemed to me to be up a little. I'm talking actual sales, not just the high asking prices we're used to seeing. Some mention that the major auction houses are showing lower sales prices, but many owners are holding the rare cars off the auction block (especially if the auction is a no-reserve format).
I cashed out a 401K in the spring of 2005, when I bought my '67 bigblock convertible. That 401K would be worth a whole lot less than the Corvette today. Tens of thousands less. IMHO.
Ridge.

[Gary B.]

Re: Vettes

Bill - The standard rate at BG has been 18 per hour, and it was reduced (to 12-14, as I recall) when they came back from their last extended downtime spell. Bowling Green has always run only on one shift.

Just posted by the NCM:

Corvette Plant Tours will resume on Dec. 14, 2009. Plant is shutdown beginning October 28 through December 11.

[Loren L.]

Re: Vettes

The "appreciation" market for Corvettes in the last 5 to 7 years has enabled thousands of owners to go from "Buried" to "I can get my $$ back". The 2008/9 readjustment was only a matter of "when", not "if".
One good example is the '54 - go back 5/7 years and you could NOT effectively "do this car", because you would not get your restoration $$ back.