Collectible?

[Guest DTerry]

http://www.nytimes.com/2006/06/18/automobiles/collectibles/18CONVERT.html?8dt&emc=dt

[Guest inthespot]

Well to get the article you have to be a member and have to have passwords and the like. So without having to fill out a form, give your email address and get a password could you just tell us that the article says? It would be easier and cut down on time. Thanks

[Guest DTerry]

<img src="http://forums.aaca.org/images/graemlins/blush.gif" alt="" /> Oops. I didn't realize you couldn't go directly to it. Just posted it because it opened with a picture of a Reatta ragtop, one of the not-so-collectibles as it turned out. Here's the only relevant part of the article:

Looking ahead, Mr. Gould singled out the 1987 Buick GNX as a car likely to rise in value ? <span style="font-weight: bold">in contrast to the 1988-91 Buick Reattas that were also tucked away, like Eldorados, as collectibles</span> . The product of a collaboration between Buick and ASC/McLaren, the GNX had a sticker price of $29,290; only 547 were built. "They were a true 1980's supercar," Mr. Gould said. "Nearly every piece on those cars was unique to it."

Price guides currently estimate the value of a GNX in excellent condition at $55,000, which Mr. Gould says is low. "Try more like $75,000 to $100,000," he said.

[Barney Eaton]

It opened OK for me. The Reatta convertible picture at the top is a sucker punch, as there is little detail about the Reatta in the article.

[jonlabree]

Last night it opened for me, but this AM you needed to be a member. <img src="http://forums.aaca.org/images/graemlins/grin.gif" alt="" />

[Guest MauiWowee]

It still opens for me. All it says is something that has been stated many times on this forum: in spite of expectations that the Reatta will become a true collectable, it's day has not yet arrived. I think that we all agree that certain examples like the '91 drop tops and the Select Sixties will eventually bring good money, and in the meantime we have an opportunity to own and drive an excellent machine. <img src="http://forums.aaca.org/images/graemlins/cool.gif" alt="" />

[122838B]

It opened for me this morning, no problem. What is a problem is that the article covered very old ground. It is not news that the "last" caddy convertible flopped as a collectible. I can't see a magazine on collectives would publish it.

[NYBobP]

It opened for me as well. This article is simply a rehash of a former NYTimes article. Must have been a slow auto-news day. There have been a few low-mileage '91 converts that have gone for serious money recently, so I don't think they're in the loop. Also, I can't imagine driving iup to a restaurant with a '76 Cadillac convertible and someone asking if the car was a brand new model. It happens a lot with a Reatta. The car was ahead of its time.

[Roadster90]

Gentlemen and Gentleladies <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" />,

Below is the mode or better yet the "vehicle" that facilitates our communications with each other....It is a "collectable automobile forum". There are only certain automobiles that fall into the categories that are recognized by the AACA as antique, collectable, and classic, and I hate to dissappoint some of these "writers", but the Buick Reatta is one of them <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" /> <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" /> <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" /> <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" /> <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" /> <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" /> <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" /> <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" /> <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" /> <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" /> <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" /> <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" /> <img src="http://forums.aaca.org/images/graemlins/smile.gif" alt="" />

THE BELOW IS CUT AND PASTED FROM THE HEADER OF THE INTERNET PAGE THAT WE ARE ON:

Collectible Automobile Discussion Forums

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ANTIQUE AUTOMOBILE CLUB OF AMERICA

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Welcome antique, classic and collectible automobile enthusiasts! This is a FREE forum for those interested in exchanging information about antique, classic, and collectible automobiles and their related clubs. Explore, read, and enjoy! New User?

Nic

[Guest F14CRAZY]

I don't think many Eldo drop tops are everyday drivers, retrofitted with modern technologies and comforts

[Guest inthespot]

Well I do not know of anything else to do but click on the site and when I do I get the log in now or enter information for free access. I tried it about 20 times and that is all I getl. Maybe it does not like Mac's that use Safari. I do not know but I can not get there from here.

[NYBobP]

I use a Mac, and it opens for me using Safari. Tried it with Explorer and it asks for log in name and password. Not much to the article re: Reattas, so not really worth the effort. The tag line posted previously covers most of it.

[ncgirl05]

**A "cut and paste" copy of the article....**

A Can't-Miss Investment That Missed: The Case of the 'Last Convertible'

THIRTY years ago, amid a swirl of rumors that federal rollover rules would impose a death sentence on open-top cars, Americans lined up to buy what they believed would be the nation's last large convertible, the 1976 Cadillac Eldorado.

The last of the mammoth, 5,153-pound Eldorados rolled off the assembly line on April 21, 1976. The cars quickly found buyers, even though production had been ratcheted up to 14,000 for the 1976 model year, from 8,950 for 1975. Certain that the Cadillac was destined to become a classic and expecting that its value would soar, collectors and speculators snapped up the cars and tucked them away like bags of Krugerrands.

Yet, even three decades later, many of the people who bought the "can't miss" collectible have never recouped their investments.

The '76 Eldorado is an example of an "instant collectible," a car that many people bought when it was new simply for its perceived future value. The car's checkered history as a collectible, however, provides a cautionary lesson for those buying some of today's new cars ? like the Ford GT, Pontiac Solstice and Corvette Z06 ? with the same profit-oriented goal.

For a time, the Cadillac was a hot commodity as a used car, selling for many times its base sticker price of $11,049 (almost $40,000 today, adjusted for inflation). In the late 1970's, Eldorados sometimes sold for $50,000 or more.

Trading in the big Cadillacs resembled, in a way, the Dutch tulip mania of the 17th century. Some buyers bought multiple Eldorados so that they would be assured of having a fresh convertible for the rest of their lives ? or at least having an extra chip to play when prices ultimately hit the stratosphere.

The interest in '76 Eldorados was not entirely driven by buyers. General Motors, which did not miss a lot of marketing opportunities in the 1970's, did nothing to discourage the speculation. As sales of Eldorado convertibles jumped 64 percent in 1976, diluting the exclusivity of these "last ever" cars, Cadillac responded by marketing a more distinctive version. This car, the Bicentennial Edition, came only in white with red and blue pinstripes. Just 200 were built, making this a true limited edition in an era when such labels usually meant little.

Ultimately, the biggest strike against the Eldorado convertible was the fact that the body style didn't disappear for long. The new rollover rules were not as draconian as anticipated, and by 1982 Chrysler was selling a regular-production convertible, the LeBaron, again.

In the 1980's, J. P. Van De Bundt, owner of the Victory Cars dealership in Fort Lauderdale, Fla., bought more than a dozen 1976 Eldorados, many of them from the original owners. "Some of them felt betrayed by G.M.," he said. "They thought they had bought the last American convertible."

When he tried to resell the cars, Mr. Van De Bundt found willing buyers for low-mileage convertibles in Europe as well as North America. "Most of the Eldorados I sold outside the U.S. went to Germany or to the Netherlands," his native country, he said. "Most of the European owners would convert their cars to run on propane; they would have a switch under the dash to shift back and forth between the cheaper propane and gas."

Mr. Van De Bundt owned an Eldorado in the 1970's before leaving Europe for South Florida. "I was a musician then, and I always drove big American cars," he said. "I would get pulled over by the Dutch police, what with the big convertible and long hair."

Today, Eldorado convertibles are frequently seen at collector car auctions. At a February sale by RM Auctions in Boca Raton, Fla., a 1976 convertible showing just 13,928 miles brought $25,680 including commissions. According to the Black Book Cars of Particular Interest Value Guide, a 1976 Eldorado convertible in good "weekend driver" condition is worth $14,750, a slight increase from the sticker price when new (albeit in much less valuable 2006 dollars).

Other instant collectibles of the era include several Corvettes, notably two '78 models: the Silver Anniversary coupe, built to commemorate the 25th year of Corvette production, and the Pace Car coupe, a replica of that year's Indianapolis 500 pace car.

In 1982, the first of the Collector Edition Corvettes appeared, followed by, among others, the 35th anniversary, 40th anniversary and 50th anniversary editions, and by pace cars for both 1995 and 1998.

Donnie Gould, a partner in RM Classic Auctions, has seen a lot of Pace Car and Collector Editions cross the block. "The majority are low-miles cars, parked when new and only used for special occasions like Sunday drives," he said. "Lots of the first owners treated them more like art than cars." Prices of these Corvettes have only recently spiked, particularly the 1978 Pace Car and 1982 Collector Edition.

"Occasionally you can make some quick money by buying the right car and getting in ? and out ? quickly," Mr Gould said. But he warned: "Don't assume that low production and the latest thing will last forever. The smart investors wait for the first owners to take the financial hit, and then buy the one they want when they are no longer this year's hot ticket."

Looking ahead, Mr. Gould singled out the 1987 Buick GNX as a car likely to rise in value ? in contrast to the 1988-91 Buick Reattas that were also tucked away, like Eldorados, as collectibles. The product of a collaboration between Buick and ASC/McLaren, the GNX had a sticker price of $29,290; only 547 were built. "They were a true 1980's supercar," Mr. Gould said. "Nearly every piece on those cars was unique to it."

Price guides currently estimate the value of a GNX in excellent condition at $55,000, which Mr. Gould says is low. "Try more like $75,000 to $100,000," he said.

Among recent production vehicles, Mr. Gould sees appreciation potential for the Ford GT, which has a list price of $150,000. "They did sell for up to $50,000 over list when they first came out," he said, but added that GT's are now selling at sticker price or slightly above it. Prices are higher, he noted, for Heritage Edition cars painted orange and light blue ? the racing colors of Gulf Oil, which sponsored the Ford GT40's that famously raced at LeMans in the 1960's.

As for other new cars that may seem to have investment potential, speculators would do well to remember the 1976 Eldorado and heed the lessons of the past. While a few limited-production models will appreciate in value, prices of most hot new cars quickly drop when the initial demand is sated ? or when that model is superseded by the next flavor of the month.