marage95

Does having a rare car help or hurt the value of the vehicle?

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Does having a rare car help or hurt the value of the vehicle? On one side of the augment you can say that the rarity increase the demand for the car increasing the price. But on the other augment, you can say that it’s rarity decrease the value because parts are going to be so hard to find and what parts you are able to find are going to be so expensive it will ruin the joy of restoring a vehicle.  

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I would say it has zero to do with the value.  The factors that make a car valuable are 100% independent of the car being rare.   They made a zillion 356 Porches but they bring a lot of money. Olds only made about 4 69 Delta 88 four doors with red vinyl interiors and no A/C but they bring nothing.

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I would think not just rarity but also desirability makes a large factor in price. There are many cars out there that are rare like Lada as example but the numbers of people that want then is low pushing down the price. Then there is a hemi Supper Bird that has a big demand + rare= $$$ 

Edited by Joe in Canada (see edit history)
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1 minute ago, Joe in Canada said:

I would think not just rarity but also desirability makes a largo factor in price.

 

I think Joe nailed a major factor involved in the determination of the value of a collector vehicle.  For example, I have 2-1/2 Crosleys (the 1/2 is a parts car) which are quite rare, but they are only worth somewhere between $3,000 to $6,000 each.  On the other hand, "tri-five" Chevys are everywhere, but bring from the high $20 thousands on up to near or above $100,000!  Not many folks want a Crosley, but just about everyone, including me, would like to have a "tri-five" Chevy.

 

Cheers,

Grog

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32 minutes ago, alsancle said:

I would say it has zero to do with the value.  The factors that make a car valuable are 100% independent of the car being rare.   They made a zillion 356 Porches but they bring a lot of money. Olds only made about 4 69 Delta 88 four doors with red vinyl interiors and no A/C but they bring nothing.

 

^^^THIS.  Some things are rare for a reason.  The classic example is the sellers who tout the "rare" post coupe versions of musclecars.  These are rare because they were an unpopular body style when new.  Pointing out that they are "rare" today is an attempt to inflate the value.

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Agree with Joe. Rare does not necessarily mean desirable. Also if "rare" depends on an option mix then it may or may not enhance value. Take my toys. I have two that are "rare" (less than 50 built). Both are Pontiac 2 door coupes. Many of that style built. Both documented. Nether was expensive when I bought them. However the Judge (4-speed & AC options, RA 400 was standard) is considerably more desirable/valuable than the GTP (DOHC 6 & 5 speed - also AC but that part is not rare. Both have similar performance but the GTP takes less horsing to go around a corner.That I enjoy both is also irrelevant.

 

So the real answer is "it depends".

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Thank you for reminding me of a great example.   An automatic transmission in a XK 140 or XK 150 is pretty rare but the exact same car with the manual brings more money.  An option vs an entire car but you get the idea.

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Rarity can mean a huge difference in value based on the car. West's 734 Packard Speedster is one  of only a handful made and this rarity adds a substantial amount to the value.  A Yugo may be rare but for an entirely different reason which does not increase it's value.

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Rare also needs to be clarified as Alsankle started to describe.  Rare as in a common car, say Mustang, that is one of 500 with the same options and color codes hardly counts as rare.  Also as noted above by Padget, some sellers note rareity, justifiably or not in an attempt to add sales value to the car.

 

Now what I think is really cool is the guy that restores and loves a particular car that was more or less common in its day, but not notable.  Capngrog's Crosley's, an early 60's Rambler, corvairs, etc.  It is the care that one gives their car that makes many cars valuable, more than just those that are on "the list".

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As someone on these forums said some time ago:  "As rare as a Ebay car for sale listing which does not include the word "rare"..."

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51 minutes ago, A. Ballard 35R said:

Rarity can mean a huge difference in value based on the car. West's 734 Packard Speedster is one  of only a handful made and this rarity adds a substantial amount to the value.  A Yugo may be rare but for an entirely different reason which does not increase it's value.

 

I was going to disagree and then I thought about it.   Rare can add value only when a car is so desirable that it creates a feeding frenzy because there are only a few and the guys that want one can afford to spend any amount of money.   I think with the 734 Speedster, because they are so desirable, the fact that there are only a few and not 100 probably does impact the value.  However, if there were 100 you would still see them bring quite a bit of money.

 

But for most cars rare adds zero.

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This is one of the quirks of the hobby (and your theory about parts availability is but a small part of the story).  One would logically think that rarity would add value to any collectible due to supply and demand but the "demand" part of the equation is far more important.  For example, there were many now little-known makes of cars built from 1900-1925.  In many cases there are only a handful of survivors left in the world BUT they are not well known enough to have a following and as such are not necessarily that valuable.  A 1967-69 Camaro is very common, there were hundreds of thousands built, but they are widely popular and usually more valuable than the rare 1920s car since demand is so high.  Old car values are a popularity contest and popular usually outranks rare and obscure, Todd C     

Edited by poci1957 (see edit history)

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We also get to the definition of "rare"....so, on a car that could be ordered from the factory with, let's say, 30 different options, then there's a chance that one car could be ordered totally different from all other cars.  That would make it RARE, but not necessarily DESIRABLE.

 

In 1969, I ordered a Cutlass Supreme with 350 V-8, three speed manual transmission (three on the tree), a different rear end ratio for gas mileage (think it was a 2.91), radio delete (because I wanted to add my own stereo), and the Rally Pack instruments to see what the engine was doing without having idiot lights.  That's the car they built for me, and it was probably one of one.  Desirable to me then? Immensely, and I really enjoyed my education at LSU with the car (even managed to go to some classes, too!).  Rare?  You bet.  Could you sell the car on a bet now?  Probably not.

 

They also offered a six cylinder engine in the 1969 Cutlass.  Would love to own one now, but rare, although again, a novelty, not particularly desirable...

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43 minutes ago, poci1957 said:

 One would logically think that rarity would add value to any collectible due to supply and demand but the "demand" is the major part of the equation.

 

No, rarity does not automatically add to value.  Some things are rare for a reason.1960s cars with manual steering are rare and not particularly desirable unless part of a stripped-down drag package. Musclecars with a three speed manual trans are rare and definitely not worth as much as four speed versions. Loss leader stripper versions of cars are rare because no one really wanted them - they were a construct simply to allow the dealer to advertise a bottom line price then upsell the customer.

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Thanks guys for your opinion on this. I see a lot of sellers use the word rare when selling a car to justify over inflating their price which spurred the question. I guess a rare car is worthless if it's undesirable. Only worth as much as someone is willing to play for it.

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33 minutes ago, marage95 said:

I see a lot of sellers use the word rare when selling a car to justify over inflating their price......

I guess a rare car is worthless if it's undesirable. Only worth as much as someone is willing to pay for it.

 

You are correct on all of the above

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40 minutes ago, marage95 said:

Only worth as much as someone is willing to play for it.

 

That applies to ANY car, rare or not.

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5 hours ago, capngrog said:

 

, but just about everyone, including me, would like to have a "tri-five" Chevy.

 

Cheers,

Grog

 

 

Not me.  I have no desire to own a 55 - 56 - 57 Chevrolet. 

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Good example of rare not meaning worth more....

I have two 1931 Dodge Brothers business coupes. Good looking, great engineering. A total of 3,178 were made. Worth less than a 1931 Model A Ford coupe any day of the week. I think it is that way because model As were so cheap and prevalent in their day. EVERYONE had one so they can relate to it. Go figure. Maybe some day, the DBs will be worth more, but I am not holding my breath. I prefer the DBs since they have more room and more power, but I am kind of the different example. I never expect to sell either one of my DBs, anyway. Worth does not mean much to me because of that reason.

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31 minutes ago, keiser31 said:

Worth does not mean much to me because of that reason.

Nicely worded. 

 

Worth, or value, means nothing if it's not for sale.

 

I've always been amazed at the most common two questions that the general public asks when they see our collectable cars...What's it worth?  What kind of gas mileage do you get?

 

The first question is just insulting, would you ask the host of a New Year's party what his/her house was worth? Or, gee, how much do you have in your IRA? The second question is just silly, yep, I bought this Packard Super 8, because it gets 2 more miles per gallon than the 12 I could have bought. 

 

Sheesh...

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I  have  a  1936  Hupp  Model N   one  of 21  producted. Its  rare,  but  I would not  trade it  for any price.It is  a  fine  road  car  with  over drive  and  it  will  cruse  all  day  long  at  55 to  60.  How  many  1936  cars  can  do  that?

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