Great ncrs people

[Kenneth B.]

I would like to thank everyone that came to my auction. I will be back in AZ in 3 weeks. The cars at the RM auction did NOT do well. Not many people buying & not many people buying parts in the swap aera. I will have my 2 70 LT-1"s at the BG auction. I am wandering if we are pricing our cars/parts so high that that the newer people can't afford to buy COrvettes.
KEN

[Mark S.]

Re: Great ncrs people

You hit the nail on the head. Point made, Corvette Carlisle was weak at best, (attendance and buying). Part sales were down with most people offering less than the asking prices. Car corral had so many empty spaces and very few sold cars.

[Loren L.]

Re: Great ncrs people

A note of reality, folks. Gooding and Company allegedly did $113M at their Monterey auctions and Monterey auctions were reported in excess of $200M. Perhaps you were in the wrong place at the wrong time?

[Kenneth B.]

Re: Great ncrs people

A note of reality, folks. Gooding and Company allegedly did $113M at their Monterey auctions and Monterey auctions were reported in excess of $200M. Perhaps you were in the wrong place at the wrong time?

I am not talking about milion $ cars here. That market will be there for the rich like paintings. There are not enough super rich people who buy those cars that are buying 10,000.00 bolt ons @ 100,000.00 Corvetes.

[Michael J.]

Re: Great ncrs people

In watching the auctions over the last few month, and in looking at prices at dealers, etc. on the internet ( I was searching for a C1, but have a C2 and always compare), I would estimate the owners want 20-30% more for the C1s and C2s than the market wants to pay. Prices should be down over the last few years, but owners don't seem to know that and still want 2007 prices for their Corvettes. I did notice the Shelby world ( I have one of those too) has come to reality over the last two years or so. Still some outrageous, no-sale reserves on them, but they have mostly come down, as they should, since 2007. Just my 2 cents.

[Paul J.]

Re: Great ncrs people

...I did notice the Shelby world ( I have one of those too) has come to reality over the last two years or so. Still some outrageous, no-sale reserves on them, but they have mostly come down, as they should, since 2007. Just my 2 cents.

A good two cents. The Mopar world also receded from thier outrageous prices a few years ago, but are now recovering somehwat. The auction houses have over-inflated the prices of our cars, and the prices are readjusting, as they should. I also agree that the wealthier among us are not investing in Corvettes, because there are better places to store cash.

Ken and Mark are correct, the market cannot support our Corvettes at the prices we've seen in the past. The prices will recover, but this may be slow as we will see supply go up as older collectors die off or liquidate thier cars/parts collections.

The down side to high prices is that the younger generation will be delayed in entering the hobby, if they even want an expensive Corvette. But the down side to low prices is that many Corvettes will not be restored because the restoration costs far exceed the value.

Paul

[Clem Z.]

Re: Great ncrs people

a 1967 $5000 corvette would cost today $34,300 because of inflation. think bout this when figuring what a used corvette is worth

[Kenneth B.]

Re: Great ncrs people

a 1967 $5000 corvette would cost today $34,300 because of inflation. think bout this when figuring what a used corvette is worth

I agree I just bought a Ford F150 platiuam that stickerd at 53,000.00 + sales tax. The point I was trying to make is that it's like going to Vagas. Some play downtown at the 2$ table & others play at the 100$ table on the strip. A lot more players at the 2$ table than the 100$ one.