63-67 corvette as an investment

[mike the snake]

That's part of the aerodynamics, helps suck the car to the ground lol.

That's the oil tank, the system held almost 5 gallons of oil.

Originally Posted by Ultramaroon

sweet shop vac

[Ultramaroon]

Originally Posted by mike the snake

That's part of the aerodynamics, helps suck the car to the ground lol.

noice!

5 gal oil? Wow! Does the 914 start out with a dry sump? Why so much?

[mike the snake]

My car had a 13-1 compression, twin plug 3.5 liter (3.2 punched out to 3.5) flat six and gearbox from a Carrera. All Porsche 6's are dry sump. My race car just also had a huge oil tank, and the oil cooler was bigger than most intercoolers.

[Ultramaroon]

That whole car, though. Unbelievable. Why in God's name would you sell it? All the time to get it just right? It totally shows.

[Ultramaroon]

Originally Posted by mike the snake

My car had a 13-1 compression, twin plug 3.5 liter (3.2 punched out to 3.5) flat six and gearbox from a Carrera. All Porsche 6's are dry sump. My race car just also had a huge oil tank, and the oil cooler was bigger than most intercoolers.

fucking rocketship

edit: oh duh. air-cooled. forgot about that. hence extra oil.

[mike the snake]

I bought the car from the builder/owner who had retired. Bought the car in pieces and put it back together by myself in my garage.

I drove it for a few years, but honestly, I was in over my head with that car. Ended up sitting in my garage for too long. I wasn't doing the car justice just owning it, tucked away in my garage.

It was super expensive to run, and so before I crashed it or fucked it up, I sold it and it is winning races on the East coast today.

I was a good custodian for that car, I was able to pass it along to someone who could properly campaign it.

Originally Posted by Ultramaroon

That whole car, though. Unbelievable. Why in God's name would you sell it? All the time to get it just right? It totally shows.

[Ultramaroon]

Originally Posted by mike the snake

I bought the car from the builder/owner who had retired. Bought the car in pieces and put it back together by myself in my garage.

I drove it for a few years, but honestly, I was in over my head with that car. Ended up sitting in my garage for too long. I wasn't doing the car justice just owning it, tucked away in my garage.

It was super expensive to run, and so before I crashed it or fucked it up, I sold it and it is winning races on the East coast today.

I was a good custodian for that car, I was able to pass it along to someone who could properly campaign it.

Amen, brother. Totally get it.

[BRZZZZZZZZZZ]

Originally Posted by mike the snake

I'm thinking about getting an old Corvette as an investment. I see lots between 30-60 grand, lots of choices. It doesn't look like all are selling too terribly fast, but my hunch is in 5 to 10 years, they'll still sell for whatever I paid today or more.

I want my next car to APPRECIATE in value while I own it and drive it occasionally, not depreciate.

Any suggestions? Also considering a Pantera, 55-57 Chevy, 67-69 Camaro. I have a REAL soft spot for Pro Street, crazy, tubbed, blown, race cars, but not sure how well they'll hold their value over an old Vette.

Good luck. I had a customer at work who bought a new 2009 ZR-1 and towed it home thinking it would be an investment if he didn't drive it. 5 years on its worth less than a lightly miled one.

[reni]

If you have the money and really want one, sure. As a actual investment, probably not.

Once you consider the insurance, maintenance, and the "cost of money", the value of the car would have to increase sharply just to break even, even before inflation is taken into account.

[Tcoat]

Originally Posted by BRZZZZZZZZZZ

Good luck. I had a customer at work who bought a new 2009 ZR-1 and towed it home thinking it would be an investment if he didn't drive it. 5 years on its worth less than a lightly miled one.

I like to compare car investments to baseball cards!
Back in the 50s and 60s people did not save their cards. They were handled, used in bike spokes and just generally mistreated.
Then 40 years later people started collecting them and those few good ones became valuable.
Those old cards that survived in good shape and increased in value tended to hold that value but could still drop if more were introduced to the market, demand lowered or general economic conditions did not support the prices.
Once people found out how valuable and rare those few old cards that managed to avoid being beat up were, they started buying up new cards like mad and protecting them so they stayed pristine.
The problem was that so many people did it that the new cards never increased in value as the market was flooded. This resulted in many people with very nice baseball card collections that had less value then when they were released.
Sure, there may still be a special release of a newer card that increased in value but they are the exception not the rule.

Now take all that and insert whatever car you wish wherever it says "baseball card" and that is how it goes with investments.

[mike the snake]

Are there any cars that are immune to depreciation? I know many exotics are, but I can't consider those.

I thought a nice 63-67 Vette, maybe a nice Cobra replica, or a high option old Mustang or Camaro might be more immune to the rising and falling of values.

[Tcoat]

This
http://www.forbes.com/sites/kbrauer/...ar-collectors/

And this
http://online.wsj.com/public/resourc...-invcar04.html

[Jaden]

Originally Posted by Tcoat

Wish I had just barned many of my old cars!
70 Coronet R/Ts that I bought for $800 in 77 sell from $50 to $70 grand now.
Strat nailed it when he said the 60s cars topped out a few years back though.
Was selling my sister's 64 Mustang convert a few years ago. It was pretty nice but had some frame issues that kept the price down. She wanted to hold out for $15K and really good ones were going for two or three times that.
Long story short she waited to long and the bottom dropped out of the Mustang market and prices plummeted. She ended up selling for about $2K.


The point being that the market for collector cars goes way up and down all the time so it can be a shaky investment.

I had a 66 mustang that I would still have today if I hadn't lost a wheel on the freeway, spun around three and a half times with almost no damage, had several cars manage to go around me, then a drunk kid who didn't and totaled it.

I still have a 64 1/2 K code coupe that I won't be selling any time soon... that I got for $600 twenty years ago and did a complete restore on.

Jaden

[Tcoat]

Originally Posted by Jaden

I had a 66 mustang that I would still have today if I hadn't lost a wheel on the freeway, spun around three and a half times with almost no damage, had several cars manage to go around me, then a drunk kid who didn't and totaled it.

I still have a 64 1/2 K code coupe that I won't be selling any time soon... that I got for $600 twenty years ago and did a complete restore on.

Jaden

Had the diff on my 64 Chev lock up on the highway once. What a ride that was.
Pretty sure that one of the hubcaps is still rolling if it didn't go into full earth orbit!