63-67 corvette as an investment

[Tcoat]

Originally Posted by serialk11r

The guy who owns the Blackhawk museum made hundreds of millions off trading classic cars.

If you have the right cars, enough of them to wait and pick the right timing to sell there is a pile of money to be made.
If you have one car and the bottom drops out of the market for it you can lose your shirt.
I worked it out one time (I was really bored) and if I had kept all the cars I have had and they remained in the condition they were in when I had them they would be worth roughly $180K on todays market. Since I paid a grand total of about $12K for them back in the day that would be a tidy profit.
Shit...even my old AMC Pacer would fetch at least $5K now and at a $200 purchase price it would have been a great investment!

[Ultramaroon]

I toyed with the idea of getting an old Pacer until Wayne's World made it unfunny. I'm still bitter about that. Anyone remember John Denver's car in Oh God?

[serialk11r]

Originally Posted by dem00n

It's different when the car is worth a couple million or hundreds of thousands. That's art, not a car.

He started with cars worth thousands though, and even nowadays you can see that for example pre-996 Porsche 911s are getting more valuable. You could say all cars are art in some way. Clean 60s cars are going for a tidy sum these days.

Not advocating buying cars and storing them for years hoping you'll hit the jackpot, there are better ways to make money, but the used car market is relatively easy to game because it's relatively easy to tell what cars are "special" and might appeal to collectors, there's just poor liquidity and a lot of annoyances like sales tax and maintaining the car.

[Pacific Auto]

If you have a lot of money then yes cars can be an investment.

I work for a lot of high-end clients.

One customer in particular buys two of all supercars. One to drive and the other to resell in a couple of years.

Example. He bought two enzo's for $800k new. He just sold one for $2 million! He's done the same for the carrera gt and now with the mclaren p1's.

[juliog]

Old folk might be willing to pay a lot of money for what it used to be their dream cars. When that demographic dies, the market for those cars will be much smaller, and their price will plummet.

[Tcoat]

Originally Posted by juliog

Old folk might be willing to pay a lot of money for what it used to be their dream cars. When that demographic dies, the market for those cars will be much smaller, and their price will plummet.

Not so sure of what you classify as "old folk" but your right on the money!
Ten years ago, late 60s GTOs were at the top of the heap in value. Now anybody that really wanted one has one or just doesn't care anymore and the value has halved.
Can't say you hear many 20 year olds saying "I gotta get me a 66GTO"

[cdrazic93]

Originally Posted by Tcoat

Not so sure of what you classify as "old folk" but your right on the money!
Ten years ago, late 60s GTOs were at the top of the heap in value. Now anybody that really wanted one has one or just doesn't care anymore and the value has halved.
Can't say you hear many 20 year olds saying "I gotta get me a 66GTO"

Although having a 66 GTO would be a nice cruiser...id rather put that money towards a 81-83 red 911 SC

[Tcoat]

Originally Posted by cdrazic93

Although having a 66 GTO would be a nice cruiser...id rather put that money towards a 81-83 red 911 SC

I really am barking up the wrong tree talking collectable muscle cars on this site aren't I!
Guess it was the 'Vette part that sent me down that road.
The sad part is that the true "collector", that will pay the big bucks far a car, be it a GTO or 911 is not likely to even use it as a cruiser but just park it away to never be seen on the road again.

[cdrazic93]

Originally Posted by Tcoat

I really am barking up the wrong tree talking collectable muscle cars on this site aren't I!
Guess it was the 'Vette part that sent me down that road.
The sad part is that the true "collector", that will pay the big bucks far a car, be it a GTO or 911 is not likely to even use it as a cruiser but just park it away to never be seen on the road again.

I'm more of the fast back boss 302 style and corvette split window kinda guy.

[mike the snake]

Me too!!!

Now that I've modded my BRZ, it is really fast and fun, but I'm not driving it much. It's fun to tool around in, but no one else in my area has one that can hook up and go for drives. I love my BRZ though.

I was just thinking it would be even COOLER to get an old split window Vette, or Cobra, or GT350, and drive it the same couple times a month, enjoy it while knowing that over time it's not going to plummet in value like my BRZ.

This I'm considering as an alternative to keeping money in the bank.

Who knows, maybe I might start flipping classics and actually make some money at it.

Originally Posted by cdrazic93

I'm more of the fast back boss 302 style and corvette split window kinda guy.

[cdrazic93]

Originally Posted by mike the snake

Me too!!!

Now that I've modded my BRZ, it is really fast and fun, but I'm not driving it much. It's fun to tool around in, but no one else in my area has one that can hook up and go for drives. I love my BRZ though.

I was just thinking it would be even COOLER to get an old split window Vette, or Cobra, or GT350, and drive it the same couple times a month, enjoy it while knowing that over time it's not going to plummet in value like my BRZ.

This I'm considering as an alternative to keeping money in the bank.

Who knows, maybe I might start flipping classics and actually make some money at it.

Don't give up hope on the BRZ value; the æ86 still holds good collector value there's a multitude of classics I would drive as a cruiser next to my brz, anything from a Datsun 280Z and porsche 911 (always wanted a 914 or mr2 for the track) to a boss 302 or challenger R/T. I would love a YSC but...I'm not über wealthy.

[mike the snake]

Here's some pics of my 914. Sold it a few years ago. It was a missile.

[Dadhawk]

Originally Posted by Tcoat

I worked it out one time (I was really bored) and if I had kept all the cars I have had and they remained in the condition they were in when I had them they would be worth roughly $180K on todays market. Since I paid a grand total of about $12K for them back in the day that would be a tidy profit.
Shit...even my old AMC Pacer would fetch at least $5K now and at a $200 purchase price it would have been a great investment!

I'm in the same boat, but then you have to figure in storage/maintenance/etc to keep them in the "condition they were in". Heck, I don't even want to think what the value of the mid to late '60s cars parked in my mid to late 70's high school parking lot was. Everybody I knew was driving an "old" Chevelle, Camaro, Mustang, etc, etc that they all paid $800 to $1500 for, and some less than that. Now, it would look like the parking lot of Hollywood High!

In the end, I couldn't invest in cars because whatever I owned I would drive. I wouldn't be able to stop myself.

[Ultramaroon]

Originally Posted by mike the snake

Here's some pics of my 914. Sold it a few years ago. It was a missile.

sweet shop vac install