WJ at Barrett-Jackson

#31 01-22-2008, 03:31 PM

Quote:

Originally Posted by Dan Bennett

I honestly don't think anything of substance has really changed, just that it's easy to lose sight of the passing years and relative values.

Look at it this way: I paid big money for a 15 year old car in 1985. Most of the smart money thought I was nuts since it wouldn't gain value like a true classic, the "trend" of the time.

So, here in 2008 the exact analog would be to buy a really nice, low mileage 1993 model of some sort. It's as old now as the LS6 was back then when I bought it. I'd bet you wouldn't pay all that much for ANY 93 model.

Another equalizer is the inflation of the dollar. According to the American Institute for Economic Research, a 1970 dollar is worth $5.30 in 2007 dollars buying power. The first Corvette to sticker for more than $20k was the 1982 Collector Edition. That 20k would equal $42,632 in 2007, or not too far from the 2007 sticker price. So even though the dollar figure has doubled, the amount of real spending power is the same.

Even though it's hard to believe, I firmly think that sooner or later the cars we currently consider dull will be the stars of later years' auctions.

Way back in the 1970s, a very smart guy told me that the Model A / Model T and 1930s market (very, very strong at the time in 1970s dollars) was soon to fade away. I didn't believe him at the time but he was exactly right. He realized that the market is driven by the people who have gained an age in which disposable income is available.

So almost all the people who as young people wanted those cars when they were new have passed away, and the market with it.

Trust me, there are a lot of people right now who first fell in love with a neighbor's new 1993 Camaro. They'll pay big money in 2028 when it's 35 years old and they then have money to spend on toys.

I agree.

We were talking about the older Honda Civics and joking about them bringing big bucks at the 2025 BJ Auction.

Speaking of BJ, prices there and real world prices are two different animals.

Also, Dan. The picture of the 1957 Cascade Green fuelie was taken when I was driving to Force's for the 2006 Christmas Car Show. In 2002 it scored a "Top Flight" by the NCRS. Great group of guys. I also bought a 1954 Corvette that will be my next adventure when my 37 year obsession with drag racing finally wears off. Neat cars.

RG

#32 01-22-2008, 06:15 PM

Quote:

Originally Posted by Randy Goodwin

We were talking about the older Honda Civics and joking about them bringing big bucks at the 2025 BJ Auction.

I'm clutching my heart, Randy!! Heaven forbid- but with all the rocket science that goes into some of those rides, I guess they will be considered the "hot rods" of my grandkids generation..

Quote:

Originally Posted by Randy Goodwin

Speaking of BJ, prices there and real world prices are two different animals.

Absolutely, but the price increases created along with the non-enthusiast buzz has steadily kicked up the prices of even the most understated of vintage steel by association

#33 01-22-2008, 07:08 PM

Martin, the best thing to do is shop around now and pick out someting reasonable, save it for when the boys get older and get interested in helping you restore it. I bought my 1972 Vette 10 years ago for 6,800 and drove it home, it wasn't mint but it was fairly decent, I tinkered on it for a few years and drove it too, last year a guy I work with gave me 15,000 for it. I turned around a bought a 1977 CJ5 Jeep from my Father-in-law for 1,500, I'm still working on it, it's a V-8 three speed, it should be really nice when I'm done. Point is, they are out there....maybe not the 66' 427 Vettes But a fairly nice 75'-77' stingray can be had for way less than ten grand. And these too will be worth some money someday.

#34 01-22-2008, 10:50 PM

Kenny has a good point. I picked up my 46 pickup for $1500, all original down to the distributor... it won't be when I am done, but the point is, there is something out there for everyone.

WJ at Barrett-Jackson

WJ at Barrett-Jackson

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