marage95

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

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1 hour ago, trimacar said:

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?

 

It is amazing how many people ask that.  The gas mileage one too, especially if you are standing next to a big car. 

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I have a 1915 model 42 Olds roadster which seems to be the only one that has survived although there are about a dozen touring cars left.  People ask me all the time "how much is it worth ?"  I have no idea as there doesn't seem to be a market to establish a price.  People seem to think that because it is rare, it must be real valuable.  Don't think so.

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I don't think anyone searches for and buys a car based on rarity alone. It has to be desirable first and foremost.

 

I've always thought of rarity as the icing on the cake--if the cake is made of dog turds, well, the icing doesn't really matter, now does it?

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Beauty is in the eye of the beholder. Desirable to you, not so much to the next guy. That is why all cars have a place in the market. A lot of rare cars I would like to own, but it is from a styling stand point, not value. But because of their styling the value is so dam high.

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4 hours ago, trimacar said:

 

 

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?

 

I always like to answer questions from regular folks in a pleasant manner but when their opening question is "What is it worth"? I like to tell them $120,000.   If they really cared they would already know it's worth a fraction of that but I like the look

on their faces.

 

 

 

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4 hours ago, trimacar said:

 

 

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?

 

I always like to answer questions from regular folks in a pleasant manner but when their opening question is "What is it worth"? I like to tell them $120,000.   If they really cared they would already know it's worth a fraction of that but I like the look

on their faces.

 

 

 

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I'm in the same boat with my 1932 Dodge Brothers DL sedan.  Heck, it's not even a coupe.  32 was the lowest production year and while they are "rarer" than other years, they still made quite a few.  Looking at the Dodge Brothers Club registry, there are multiple pages of 29, 30, and 31 models, and half a page of 32s.  My first car, not planning to sell it, have way, way more into it than it will ever be worth, and I enjoy the heck out of it every single day.

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17 hours ago, Pomeroy41144 said:

 

 

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

 

The only value in a tri five to me is what I could get out of it quickly.

I went thru a 57 pick up recently and it sold quickly.

You know the old saying, they are like a**holes, everybody has one.

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Agree, only 57 GM that would interest me would be a 57 3/4 size Caddy.

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The most common question I get on my '18 Buick is "where do you get the tries?"

Also almost everyone thinks it is worth at least $100K since it is old. It isnt worth a fraction of that.

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It's all a matter of supply and demand. A car of which there are thousands, could be 'rare' because it is in high demand. A car of which there are only a few, could be worth very little because there is no demand.

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I suspect there is little demand for a Bugatti Royale.

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The "how much is it worth" question is awkward to answer, but I see it as an opportunity to inform potential future hobbyists that our cars are not as out of reach as they might think.  A lot of people assume that all old cars are super valuable.  Finding out that this isn't true might give them the idea that someday maybe they should buy such a car.

 

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Economics 101 says that supply and demand drive prices up and down. So although a car may be rare, if they are not in high demand, they are not worth much.

 

If there is high demand and low supply, that is an entirely different story. A good example is the difference in price of the rare muscle cars vs. the Corvair turbos. Corvairs have a substantially lower following, so although many models are rare, their prices are no where near rare muscle cars. 

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What's it worth"

 

It's worth a million dollars but I will sell it to you today for $47,000 and throw in a set of dishes.

 

Gosh I don't want to buy it

 

Then why did you ask?

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The Ferrari GTO isn't "rare" with a total production of 39, however they look GREAT, if you own one I guess driving it could be fun, they do sell well. Bob

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Not sure why anyone on this board would be offended by someone asking "what is it worth"?

 

Ive done it many times myself and have collected cars for over 40 years. One cant know every marque and often to a newbie, it is an honest question- not a "let me see how much money you have" question.

 

and yes, most cars are under 100k, so no big deal...............

 

Also, a Stutz may have been 100k 3 years ago and today 300k........... things change constantly in the field of cars, desirability, etc.  10 years ago one could buy a 280sl for perhaps 10k. today you are looking at 45k.

 

I dont find it offensive at all, just inquisitive and am glad that there is any interest whatsoever..........

 

banter is better then silence.

 

my opinion.

 

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Am not offended either but remember when Henry Manny wrote an article about being sad that his 427 Cobra had become too valuable to drive. Think if that ever happened to one of my cars, I'd sell because I have enough trophies/coffee tables.

 

Is the nice thing about my '92 built GTP. With a 7,000 rpm redline and a five speed it is a fun car and only have about $4k in it. And I just found a simple way to get another 60hp (GM had a long history of detuning and underrating interesting engines (i.e.67 Firebird 400 carb tab) & didn't want a W car that could outrun a 'vette).

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Americans seem to be unique in our aversion to discussing financial matters. I had a conversation recently with a pair of gentlemen from Spain in my showroom and they were only too happy to tell me what they paid for their cars, how much of their salary it was (I was shocked by how little a dentist in Spain makes), and it seemed like no big deal. Likewise a friend from Germany who says that everyone in a company knows what everyone else makes, it's common knowledge and they talk about it. In fact, he says he would feel strange not knowing what his co-workers make because it would hinder him when it was time to negotiate his pay rate--he would never know if he asked for enough. Why give that advantage to your employer? was his thought.

 

We are unique in our reluctance to discuss financial matters. Why, I don't know. I feel the same, it makes me uncomfortable, but when I examine why, I can't come up with a logical or reasonable explanation. So odd we are as a country, no?

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Rarity came up in some of my first talks with my Grandfather about selling cars. I was just turning 13 at the time and he had to tell me that my commission on car sales was being reduced to 5% from 10%.

 

The outcome, rarity is a key fundamental of the eternal search for the uninformed buyer, a life's work.

diogenes-dog-and-lamp-statue.jpg

 

It ranks with "Sharp" "Like New" "Clean" and other broadcasts found on the windshields of cars.

 

I sold a rare car about a year ago. I advertised it as "Very rough". The only communication with the buyer was two offers of a lower than asking price. I accepted the second. When he got the car he told me "he didn't think it would be that rough. I wondered if I should have described it as "very, very rough". He only asked if he could get it for less. Maybe rarity should be graded as rare, very rare, very very rare and so on.

 

Or was "beware" misheard as "be rare"?

 

Buying and selling collector cars with discretionary money is SPORT and it always will be.

Bernie

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20 hours ago, Rusty_OToole said:

It's all a matter of supply and demand. A car of which there are thousands, could be 'rare' because it is in high demand. A car of which there are only a few, could be worth very little because there is no demand.

Do you think that the word rare can be implied as a status symbol? For example, if I see my neighbor washing his 57 Cadillac Coupe de Ville (23813) I can say “Nice car, but I have a 57 Cadillac Eldorado (2100)."

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On the whole Rare cars are not usually well done. There are a few exceptions where cubic money is involved.

Edited by padgett
correction and expansion (see edit history)

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Taken as you wrote it, "rare cares," you may be correct.  If you meant to say "rare cars," a host of Pebble Beach judges would disagree...  Happy Thanksgiving anyway....

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