1st Generation Market Report

[B Jake Moran]

I saw a nice 1964 for sale in the main "Not Mine" Buy Sell AACA section for $17,500.   That got me looking and thinking.  I have been out of the old car hobby for awhile.  The last time I looked Riviera from 1963 through the Boattails were seeing rising prices.   I am cheap, but would pay for a nice example. 

 

I then went to the ROA Buy / Sell and noted prices in the $30,000 to $40,000 range, but from dealers.  So, is anyone buying these cars in that price range?  

 

I can never afford a 400 point car, but they made roughly 76,000 Rivieras in 1963 and 1964. (I am not a fan of the 1965 Riviera)    The one noted above I believe has low miles, and presents well from the photos, but stated it needs paint and a couple of details.     What are your thoughts on 1963-1964 pricing trends? 

[sixxer]

The entire market is up - I’m outta the loop in Riviera’s cause we’ve had it for years but prices are insane for classics. We used to specialize in 67-69 Camaros and they have slowly risen from 5–10k running project not even 4 years ago to 12k for a horribly rusted roller and I just saw a drivable 69 project car near me for $25k. I’ve been looking for a a 66-68 Mustang for the last couple months. Nothing special -  6 cylinder coupe, automatic, preferably not with a rusted out cowl and it seems I’m in the 6-8k range which blows my mind. I don’t understand what’s causing the buys honestly - I definitely don’t see a resurgence out on the road and car shows (at least near me) have gone down in attendance and quality. I will admit that location seems to play a large factor. On the east coast C10s from the 60s-70s are CHEAP compared to the Midwest, you could probably make a good living simply hauling cars to where the markets are strongest.

[jframe]

I think they are generally increasing in price, and that that particular car LOOKED like a decent value. Especially if one wasn't concerned about an awesome paint job and wanted the car to be a cool weekend driver. I think

Rivs have long been down in value and not as appreciated as they should be. However, that seems to be changing. It seems like really nice examples that have a good finish, no rust and not a lot to be done to them are trading between 30-40k. I know that I have my '65 insured for 24k, and my insurance company won't up the coverage until I get an appraisal. Wanting to insure it for 35k or so, but I am still hunting a good appraiser in my area, and that is a hard row to hoe.

[Riviera63]

4 hours ago, jframe said:

I think they are generally increasing in price, and that that particular car LOOKED like a decent value. Especially if one wasn't concerned about an awesome paint job and wanted the car to be a cool weekend driver. I think

Rivs have long been down in value and not as appreciated as they should be. However, that seems to be changing. It seems like really nice examples that have a good finish, no rust and not a lot to be done to them are trading between 30-40k. I know that I have my '65 insured for 24k, and my insurance company won't up the coverage until I get an appraisal. Wanting to insure it for 35k or so, but I am still hunting a good appraiser in my area, and that is a hard row to hoe.

Mark,

 

I have my 63 insured through Hagerty. I had it insured for 30k. They reviewed my policy this year and they called me to suggest I up my coverage after the underwriter saw the photos of my car that they had me send in when I first started with them. No appraiser needed. They are very accommodating with insuring for the value you want. I am now insured for 35k.

 

Bill

Edited November 17, 2021 by Riviera63 (see edit history)

[B Jake Moran]

Well, it appears then the mostly dealers selling cars on the ROA website linked here are in the ball park.   I can live with a car that needs paint but is still presentable, especially if it is original.  I really have no place in the hobby right now unfortunately and because everyone wants to make money on their old cars when they sell, I am not sure there will be a correction in time for me to enjoy an old car.  

[Rivdrivn]

23 minutes ago, B Jake Moran said:

Well, it appears then the mostly dealers selling cars on the ROA website linked here are in the ball park.   I can live with a car that needs paint but is still presentable, especially if it is original.  I really have no place in the hobby right now unfortunately and because everyone wants to make money on their old cars when they sell, I am not sure there will be a correction in time for me to enjoy an old car.  

There are still a lot of good old cars for sale out there at decent prices. Rivieras are finally appreciating but many pre- and post-war cars are declining, for example.

[JZRIV]

Prices are up until you go to sell one as a private seller. LOL. There are always exceptions. I admit I don't follow 63 and 64s that close but if anything I thought values have leveled off a bit in past 2 years as the trend is diminishing on early 60s cars and has shifted strongly to 70s and even 80s cars now......but that's just one opinion. I have seen beautiful 63/64 Riv examples needing just a little TLC from private sellers for under $20k. 65s are still in their own class.

Even though prices are high, Those cars at specialty dealers generally aren't close to 400 point cars as one might expect. The dealers can afford to skillfully market them for many months around the world waiting for an uneducated buyer. Overseas buyers will sometimes pay more and like to buy from a dealer as they feel more safe with the transaction vs a private individual.  

 

There generally will be a decent difference between what a private seller can sell for if they do not want the hassle of going to ebay or other big internet based marketing venue vs someone who wants to put forth the effort to market and sell worldwide. Ideally as a buyer you want to buy from the old guy who has to have his daughter list the car on CL for him because he don't even have email.

Edited November 17, 2021 by JZRIV (see edit history)

[jframe]

3 hours ago, Riviera63 said:

Mark,

 

I have my 63 insured through Hagerty. I had it insured for 30k. They reviewed my policy this year and they called me to suggest I up my coverage after the underwriter saw the photos of my car that they had me send in when I first started with them. No appraiser needed. They are very accommodating with insuring for the value you want. I am now insured for 35k.

 

Bill

I may have to go that route. I have State Farm and have stuck with them, mainly because they were very accomodating to me a few years back when I was involved in an accident with the car and a subsequent lawsuit, which didn't go my way at all. I was never out an extra penny, and I have to commend them for that. However, I DO hear some pretty good stuff about Hagerty.

[bob71GS]

9 hours ago, Riviera63 said:

Mark,

 

I have my 63 insured through Hagerty. I had it insured for 30k. They reviewed my policy this year and they called me to suggest I up my coverage after the underwriter saw the photos of my car that they had me send in when I first started with them. No appraiser needed. They are very accommodating with insuring for the value you want. I am now insured for 35k.

 

Bill

 

I also have my 71 GS insured with Hagerty. This year they reviewed my policy, when the underwriter asked what the mileage was and I told him 22,000 original miles, he immediately up the value to $40K.

 

Bob Bonto