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'67 big block value

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  • Mike R.
    Expired
    • August 30, 2009
    • 321

    #16
    Re: '67 big block value

    Corvettes, real estate and numerous other assetts went through a period where people bought them *to make money*. They were not car collectors, did not plan to live in the house in essence they did not intend to *own* the assets. If you buy a car because you think it will appreciate, the amount you are willing to pay is MUCH higher than if you are going to "consume" it. You are going to sell it later for a higher price...so what does it matter?

    People bought all kinds of things thinking they would appreciate. I have a 2006 Ford GT and these keep coming up for sale with less than 100 miles. They were bought as "investments". The flaw in the logic is that everybody had the same idea. The only reason collectibles are valuable is that nobody kept them! If every 8yr old girl in the 1950s kept her Barbie dolls unopened in the original box then they wouldn't be worth anything! Same thing for Campagnolo bicycle parts.

    There will always be Corvette enthusiasts and some will be wealthy and keep the price of very rare (L88 kiind or rare) cars up. Unfortunately there are not enougth Corvette enthusiasts with huge $$$ who want to have every year both coupe and convertible and won't sell one to pay for the kids college. The value of the rest of the cars will depend on how much an Above-Average-Joe-Car-Enthusiast-Guy can have tied up in a toy that mostly sits and has ongoing expenses (insurance etc).

    The market HAS recovered. Recovered does not mean going to the peak of the bubble. Recovery means getting back to some long term trendline.

    When I bought my 65 fuelie the seller told me that "these were going for 100K+ a year ago". I told him I would pay him 100k is stock based on last years price....




    Originally posted by William Ford (50517)
    Comments about market determining value, well taken, except where Obama is setting the price on many things these days. Concerning comment about "You'll be paying what seller asks"-not unless he has a gun to my head if I disagree with his price. Concerning "collector cars not good investments"-there was a big runup in Corvette prices in past several years; are we in a steep decline,"burst bubble" now, do you think, even for good cars?I'd like to hear comments on state of Corvette market now compard to pasr several years and what your crystal ball sees for the future.
    Thanks
    '67 top flite roadster and '67 factory AC L79 coupe

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