Classic cars prices

[tcams76]

Look to be going up. <A HREF="http://www.usatoday.com/money/autos/2002-08-05-old-cars_x.htm" TARGET=_blank>http://www.usatoday.com/money/autos/2002-08-05-old-cars_x.htm</A>

[padgett]

Saw that but notice they are talking about class 1 (or class 2 masquerading as class 1) cars produced in single or double digit quantities.<P>Nice early (55-60) 'vettes can be had in the $10k-$20k range, for the sky-high dollars would have to be an all-original '57 FI/4-spd car (late year only).<P>Just as a note to potential Reatta modifiers, one of the first things that was replaced was the air cleaner consequently nice originals bring big bucks today. Keep what you take off in baggies...<P>Same-same when they say "69 Camaro" I suspect they left off the "COPO" part. These are cars that were built but not generally available to the public or diguised by marketting. Just as an example the L-88 '69 Corvette was rated at 430 hp while the top tripower was 435 hp at much lower cost. Same Same 350 Camaro 295 hp, Z28 290 hp. All marketting.

[Guest]

Quote by Padgett: "Nice early (55-60) 'vettes can be had in the $10k-$20k range." <P>Sorry, my friend, but not here in Southern California. Typical is an ad in today's paper for a '61 convertible, 350/4speed: $35,000!<P>Check the USAToday chart for top auction prices. I know the '56 Thunderbird that went for just under $170,000. Sticker price when new was just under $4,000.<P>Jerry

[Guest EDBS0]

That investment would suck big time! $4K to $170K in 46 years is less than app 8.5% <P>No maintenance, storage or insurance costs were deducted not at all good.

[Guest]

Robert, Robert, Robert... <P>Care to factor in use/enjoyment/etc./etc. of the car during that timeframe? The coin has two sides.<P>Jerry<P>P.S. I'd be delighted to have an 8% annual appreciation on my WorldCom, Global Crossing, CMGI and Enron stocks.

[Guest EDBS0]

JJJJJJJJJJJJJJJJ A $170,000 TBird quickly turns into a $35,000 TBird with use and enjoyment. At $170,000 it is and has been and will always be a trailer baby liability <P>What you had no Qwest, Andersen, Adelphia, ImClone or Tyco shares <P>looked at BNTI-Q2 Braintech<p>[ 08-06-2002: Message edited by: Easily Distracted ]

[Guest]

Jerry:<P>You would have had over an 8% annual return on all those stocks if you just knew when to buy, hold and sell. Beanie Babies anyone? The ass for every seat keeps surfacing. By the way, that's my version of a sucker born every minute. <P>But at this point I would settle for an 8% return on anything!!

[padgett]

Please note I said "nice" and not "original".<P>Not talking about a nice California 'vette in Hemmings but the equivalent of a $3k-$4k Reatta. They exist and can find them - probably in the mid-west with a 350 & mags), there was a 56 like that I could have purchased for $10k three years ago, ran nice looked good (except I didn't care for the flames), you just have to be patient and look everywhere.<P>Have had Corvettes - wife walked under one hanging from the garage ceiling (a '68) for years. Sold out in 1975 and it took two closed trucks and a flatbed to haul everything away (tend to get a bit fanatical about interests).<P>Today am really not interested in anything without FI that I can play with and think the 3800 is a nearly perfect road engine. <P>Might have a Firebird with 3800/5 speed except think they are too big. <P>Anyone know where I can find a convertible kit for my Fiero ?

[padgett]

I really liked the AMX in spite of the steering wheel and dash. Wound up with a GS instead - have prefered GM since going cold turkey on Jaguars in the late '60s (slipped once in 1975 but have been clean since).<P>At the same time I thought about ordering a Camaro with the ZL-1 option for $3300 (the option, not the car), what would that be worth today ? Of course the probability of the car surviving thutty yar of my driving would have been unlikely. <P>My Judge is enough, best $600 I ever spent.

[Guest C.F.Massie]

I still have my originals which I bought in my younger days, a 64 GTO, 68 Shelby GT500 convertible and a 68 AMX. I've been made hefty offers over the years for each of them but I'm not selling. I'm one of those purists and damn proud of it, those dot.com fools getting into the car collector market just don't have a clue why the rest of us stay with these cars and they probably never will. Since 1970 I've seen my cars go up and down in collector market value maybe five times already and this latest surge is nothing new. It will peter out just like the other times. Oh, as an example, I just finished restoring a '57' T-Bird for an owner who bought it eight months ago for 25K and it was in good condition, not excellent just good. I put 8k into it for him and he is very pleased to hang onto it no matter what he may be offered in the future. Thats my kind of collector. And by the way I drive all my cars, they are not trailer queens, I drive them to all the shows I enter. Heck that's what they were built for, DRIVING...

[mhoumard]

Yeah . . . what you could have kept as a kid had you the foresight, or no need for the garage space, or for a daily driver. <P>Noted the $29,000 for a Javelin in the USA Today article. <P>Bought a '69 AMX from the factory rep in 1970 (limited edition 2-seater '68-'70).<P>Later ordered a black 1972 Javelin with the rare Pierre Cardin interior . . . black rayon/nylon interior with swirls of white/silver/gray/raspberry on the seats, doors and even the headliner! Paid $4,125.35.

[Guest Buick Mike]

This same escalation in collector car prices happened after the market crash of 1987. The trouble is, the people driving the market up are not enthusiasts, but are simply investors who view the cars as commodities. They will bid the prices up to crazy levels (just as they did to the stocks from which they are now seeking refuge) and, when prices soften even a little, will try to bail out all at once. Then, just like in the early to mid '90's, lots of people will be stuck with a $60,000 car for which they paid $125,000.<P>The fact that crazy high car prices are making mainstream media like USA Today is, to me, a sure sign that we're already in a bubble. If you liked tech stocks two years ago, then by all means go buy that guy's $75,000 Corvette.<P>Collector cars are great hobbies, but terrible investment commodities. <P>Mike<p>[ 08-07-2002: Message edited by: Buick Mike ]

[Guest]

I agree - If its and buts were fruits and nuts every day be Christmas! <P>I just read that Tyco paid $6,000 for a shower curtain so maybe some of the people in Hemmings asking $25,000 to $35,000 for a Reatta convertible may get it. That is if you consider all things in that context!

[Guest tempest68]

The following is an observation about investing that someone sent me:<P>If you had bought $1000.00 worth of Nortel stock one year ago, it would now be worth $49.00.<P>With Enron, you would have $16.50 of the original $1,000.00.<P>With Worldcom, you would have less than $5.00 left. (I can personally vouch for this one!)<P>If you had bought $1,000.00 worth of Budweiser (the beer, not the stock) one year ago, drank all the beer, then turned in the cans for the 10 cent deposit, you would have $214.00.<P>Based on the above, my current investment advice is to drink heavily and recycle.