Interesting USA today article for investors

**SS427** · #1 08-06-2002, 02:00 PM

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 · #2 08-06-2002, 03:35 PM

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** · #3 08-06-2002, 04:20 PM

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 · #4 08-06-2002, 09:01 PM

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** · #5 08-06-2002, 09:17 PM

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** · #6 08-06-2002, 11:50 PM

It's 1989 all over again.

69rsss350 · #7 08-07-2002, 12:04 AM

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.

Fhakya · #8 08-07-2002, 09:08 AM

Wow..just read that article. I'm super curious to see the ultra rare Pontiac Superbird!!! At 1 of 0, it's easily worth the 85K. As for 69rsss350...Hey man, ride the wave! Apparently your car is now worth almost 100K (if I read your nickname right). What a joke this crap is.
This is also great for me because according to USA Today, my $.02 is now worth about $38.50.

-Mark

**YENKO DEUCE REGISTRY** · #9 08-07-2002, 01:25 PM

69rsss350;
Whitetop has just spoken my mind [img]/ubbthreads/images/icons/grin.gif[/img]
We have seen this before, and we know how this market cycles. We also know that everything has a price, and we are not knockin your profession or livelyhood. However, it is disconcerting when a 'carpetbagger' shows up with investment on the brain, rather than appreciation from the heart. This only drives the prices up out of the range of those who truly appreciate them. I don't really give a rat's petudy what my car is worth, and I won't sell it unless I have to. I own my Supercar because I want to enjoy it, not make money on it. I'll help close the door on the speculator's A$$ [img]/ubbthreads/images/icons/grin.gif[/img]
Just my $.02, or whatever it's up to today.

**tom406** · #10 08-08-2002, 03:52 AM

It's all OK, really. A bunch of cars that wouldn't get restored suddenly will (due to the $$$) plus some new reproductions will get tooled up for the same reason. A bunch of "forgotten" iron will get rescued from barns and fields because the owners will finally be able to get the ridiculous prices they think they're worth. Then, in a year or two, when all of the people left holding the cars realize that they don't really like musclecars all that much, the market will crash, and the "true blue" guys can buy them at reasonable prices again.

In the meantime, go play with your kids, take the wife out on the town, and fix your house up a bit. It will be OK again soon, really. [img]/ubbthreads/images/icons/smirk.gif[/img]

Dedicated to the Promotion and Preservation of American Muscle Cars, Dealer built Supercars and COPO cars.