Interesting USA today article for investors

[SS427]

Got thislink form over at the Tean Chevelle site. I keep telling my customers to put their money into restorations and purchases as this is much more stable right now. Seems to be working. [img]/ubbthreads/images/icons/laugh.gif[/img]

http://www.usatoday.com/money/autos/...old-cars_x.htm

[Chevy454]

Very interesting article, but did you see some of the prices they listed under "Photo Gallery" in the link A collection of muscle cars? They show (in approximate values): '67 Corvette - $150k, '69 Camaro - $145k, '58 Corvette - $125k, '56 T-bird - $160k, '68 Mustang - $40k, '96 Viper - $50k, '67 Plymouth - $50k. Are these prices skewed, or did they possibly take the highest paid price from recent Kruse auctions? Or possibly they asked some of the locals around here what they thought some of their cars are worth, kinda like the $8k Stude-truck (that is rusted into the ground) outside of town here!

[SS427]

Rob,
I saw that too. Based on some of the other examples they gave, these are likley auction prices that were paid and made print on the indivual auction houses websites. Not real ggod examples.

[MikeA]

What's unfortunate is that people read these types of articles and feel that their car is worth that kind of money. Regardless of condition!

[YENKO DEUCE REGISTRY]

I'll second that statement!!
I had a guy tell me today that his '69 el camino with this awesome LS7 built to pro stock specs, diamond plate welded into the bed for 'better weight distribution', and the rare 'wood-grained' sides was worth $40k because 'all these old cars are goind through the roof' [img]/ubbthreads/images/icons/confused.gif[/img]

I remember these very days about 12 years ago, the speculators will be gone when the stocks come back. (and that's ok with me [img]/ubbthreads/images/icons/grin.gif[/img] )

[Mr70]

It's 1989 all over again.

[69rsss350]

Guys, try to get a grip here. A car is only worth what someone will write a check for, no matter when. If your car is not for sale, then its not for sale (unless someone writes a big enough check). I don't understand your philosophy unless your looking to buy a car on the cheap... and if that is what you are doing it for aren't you a speculator? The supercars that you guys own are always going to bring a premium and why wouldn't you want to see their value go up? If someone makes a buck on a car why does that bother you? Sorry but this is what I do for a living and I have gone thru many market changes in my 21 years in the business and have always made a good living and I sell the cars to the dealers that Joe average buys his cars from. Why in the hell would you have a problem if that guy with the elky could get 40K for it? It is not your money is it? Are you worried that if an average or even above average car brings more that it will somehow devalue your "supercar"? Enlighten me.

[whitetop]

69rsss350
The problem I have is the guys who truly have loved the cars their entire life, their whole life's obsession so to speak, get pushed out of the picture. Somebody with pockets full of money will come in and buy up the cars and inflate the prices as a result. Once they get over their new hobby of the month whim, they get bored and go onto something else. Once these car prices go up they may come down some but will always be inflated. I'm like Marlin, to the people that do this don't let the car door hit you in the A** on the way out of the hobby.
Dave

[69rsss350]

That is the world we live in whether we like it or not. The almighty buck rules. I guarantee that there isn't an owner on this site that wouldn't sell their "life dream" for the right price cause there is always another dream isn't there?

[MikeA]

69rsss350,

Don't get me wrong if someone is willing to overpay for a super car (or any other car for that matter), good for them.

My problem is that people without super cars feel that their rusted SS350 Camaro, Chevelle or Nova is worth super car money. In most cases the car it just is not worth the asking price because the person selling it usually does not take account the costs associated with the restoration. Like Whitetop stated it does stop people who would like to purchase their dream car, whether it is a Yenko Camaro or a small block car.