Interesting spin on old cars

[Lynn]

Originally Posted by SBR

Agreed! Also, take one look at the crowds at MCACN. It seems like it gets bigger every year. If that starts to slip, I'll start to worry but I don't see that happening in the foreseeable future.

I was just getting ready to post this. If muscle cars are dead, why are the crowds at MCACN the largest of all time. I GUARANTEE you it wasn't so they could see the eight Pinto based Mustang II "King Cobra" cars!!!!

I have advised MANY people over the years to NEVER buy a car as an investment. This applies to antiques, muscle cars, and ESPECIALLY any new car that the manufacturer indicates is a "future collectible". * See below. You buy the car you love. Enjoy it. If it goes up in value, all the better. But just enjoy it. I paid $900 for my 69 Z/28 in 1976. I have turned down $120K. Has it topped out? Am I "stupid" for not selling at the top of the market? Hell no; I am still enjoying it. It won't likely leave the family until I am gone, and even then it may not. I don't give a rat's ass what it is worth 20 year after I am dead. Will I have enjoyed it any less.

I am having a blast with my 57. If I ever go to sell it, won't likely recoup my investment, even if it is an original dual four car. I just don't care.

* As for a new car being the next collector item. I have posted this before; but remember when 1976 El Dorado Convertibles routinely sold for double sticker because it was the "last American Convertible"? Yeah, that's right. Think you could recoup your investment on that one correcting for inflation and adding in the cost of insuring and tagging it each year.

Just a year and a half ago, you had to pay most GM dealers $40 over sticker for a Z06. One just sold on BAT for $106k. It had 625 miles, and an original sticker of $137k plus. Hopefully the guy didn't pay over sticker.

[396 SS/RS]

My son is now 35 and has always been into Camaro's. Just like me, he has owned Camaro's since he was 16. I bought my '68 in '86, sold it in '01 for a 4th gen. Shortly thereafter I regretted it. He rode in it from when he was born and up into his teens when I sold it. He gave me a hard time for selling it every opportunity he got, up until I bought it back several years ago. He will inherit it and I feel confident he will keep it and care for it. He himself has a nice '69 RS that he loves. FWIW, It's all original and I have made it clear that I will haunt him if he starts modifying it.

Agreed, the folks from that era ( I turned 67) are dying off and most of their offspring are not interested in classic cars but hopefully, there are enough (like my son) that will keep it alive.

[Pro Stock John]

The rare stuff will increase in value, finite quantity.

Rebuilding older cars with modern components will increase too I think.

[TK-65]

Originally Posted by Pro Stock John

The rare stuff will increase in value, finite quantity.

Rebuilding older cars with modern components will increase too I think.

Rarity is subjective. The value of anything is the story. Its not the object. Once people don't care about the story anymore the value is gone. If I build a 67 Camaro, put a 427 in it, and slap badges with my name on it, its worthless. Other than being a mode of transportation. Don Yenko does it and guys freak out and pay tons of cash to own it. As something collectible. Guys are now freaking out to buy Saleens.


30 years ago this car was 15,000 Now its 140,000.
https://bringatrailer.com/listing/19...tang-saleen-3/


Run of the mill notchback sold for 51,000. I sold mine in 04 for 7,500 bucks
https://bringatrailer.com/listing/19...tang-saleen-3/


Cobra R, 210,000
https://bringatrailer.com/listing/19...vt-cobra-r-13/


Gen X is buying "their" story cars. Foxtoberfest had 897 Fox Mustangs this year. These cars wont go up forever. They will plateau and crash back to earth when the current generation becomes middle aged.

[Pro Stock John]

Yeah all those examples are of rare models, we are kind of agreeing.

And of course some year cars are just super popular like the 55-57 Chevys.

[1969L89]

I agree with Joe 100%. I have been collecting for 40 years and have a massive collection of vintage signs, gas pumps, pop machines, oil cans, etc. and have no kids or a wife. What do I with it, keep staring at it or sell it and move to the tropics and get fed grapes by beautiful women? If I was younger, I'm 59, and had the money I would buy all the fox body Mustangs, IROC's, performance G bodies, Trans Am's, and Civic SI's I could and hoard them. You think they are high priced now, just wait!

[TK-65]

Originally Posted by Pro Stock John

Yeah all those examples are of rare models, we are kind of agreeing.

And of course some year cars are just super popular like the 55-57 Chevys.

My point is rarity is subjective. Its made up. A notchback Mustang wasnt rare in 87-93. They were not sought after. Guys wanted hatchbacks.


The older muscle car guys hated "new" Mustangs. They didnt think they were rare at all.


The 93 Cobra was laughed at when compared to a 93 Camaro. However 30 years later these things are all of sudden rare. Nobody is going to buy a 93 Camaro over a Cobra. Because they are collectible now. Now they are rare. Even though Ford made 5000 of them.


Prices will drop when the owners age. Everything becomes a niche after the boom.

[TK-65]

Originally Posted by 1969L89

I agree with Joe 100%. I have been collecting for 40 years and have a massive collection of vintage signs, gas pumps, pop machines, oil cans, etc. and have no kids or a wife. What do I with it, keep staring at it or sell it and move to the tropics and get fed grapes by beautiful women? If I was younger, I'm 59, and had the money I would buy all the fox body Mustangs, IROC's, performance G bodies, Trans Am's, and Civic SI's I could and hoard them. You think they are high priced now, just wait!

My automotive writer friend and I were talking about this recently. That stuff is cool but our generation has no attachment to it.

[Keith Seymore]

Originally Posted by TK-65

My point is rarity is subjective. Its made up. A notchback Mustang wasnt rare in 87-93. They were not sought after. Guys wanted hatchbacks.


The older muscle car guys hated "new" Mustangs. They didnt think they were rare at all.


The 93 Cobra was laughed at when compared to a 93 Camaro. However 30 years later these things are all of sudden rare. Nobody is going to buy a 93 Camaro over a Cobra. Because they are collectible now. Now they are rare. Even though Ford made 5000 of them.


Prices will drop when the owners age. Everything becomes a niche after the boom.

I think you are confusing the terms "rare" vs "desireable".

K

[TK-65]

Originally Posted by Keith Seymore

I think you are confusing the terms "rare" vs "desireable".

K

Not at all. You need both for sustained value. Which is my whole point. Noticed I wrote twice the price of cars will nose dive once the generations age. Its the desirability part you mention.