Real values on our PT cars....

[chrismoe]

Originally Posted by Streetking

So I have been having conversations with serveral guys about values of our cars lately. I have been doing alot of research lately because I have been looking for a nice 2nd gen Camaro to buy. I am after a nice car with great paint/body that has a LS motor, mini tubbed ect. Anyway, I have found several cars on different sites. This got me thinking about what the value of my personal PT/Muscle cars that I own. Looking around E-bay, there are some cars that are simply way too over priced.. Chris was just looking at the
'69 in Canada that the guy wanted $250k, then I saw one in Dallas for $275k.. .. In today's market, those numbers are going to be very hard to get. I am currently building a car at DSE with a buddy of mine that is going to be over $300k. If we decided to put it on the market right after it's done, it would be hard to get a cash buyer to pay more than $150-175k, that's being realistic. When you build a certain car, it's your personal taste. Another person may not like the color, wheel selection you chose ect. These factors make resale harder, especially on the higher price cars. Bottom line is, you build/buy what you want in your budget and enjoy the hell out of it!

SW,

Well said. As you mention, I have been looking around, activley searcing for a PT car to buy. The price range for PT cars is very wide. Just look at eBay today as one example. You have a 69 Camaro, mini-tubbed, LSX motor, nice interior, etc., etc., and, it was a finalist in the GG street machine of the year contest in 09. So, it has some "history". The dealer is asking $129,000 for that car and my guess is it could be had for $120,000 or less. Then, you see that black 69 Camaro in TX. with a similar build for $275,000?!?!?! Yea OK, he is throwing in a trailer but still, that is a 110% increase over a similar car. That is a big swing. Now, the 69 Camaro from the dealer for $129,000 is pretty unique meaning personlaized. So to your point, it may be so unique that it throws off prospective buyers. I can tell you that some of the finishing touches to that car, while very cool, convinced me not to buy it.

So, at the end of the day I think anyone spending a lot of money to build a PT car should recognize that there is not a complete ROI on their build. Rather, they are buiding their dream car and they should plan to enjoy the crap out of it - either show it or drive it or both - and then be preppared for an economy-driven "market adjustment" when they are ready to sell it.

My 2 cents.

Chris

[MarkM66]

Originally Posted by chrismoe

GG street machine of the year contest in 09. So, it has some "history". Chris

Actually, the ad states "2009 GoodGuys Muscle Car of the Year competition" as it was never a SMOY finalist.

But Muscle car of the year is for original numbers match stuff.

I think he meant to put Muscle Machine of the Year finalist.

[ironworks]

A car is only worth what someone is willing to give for it. The moment you put the car on the market you set the value. Because you have to give it a price that appeals and satisfies you bottom dollar. The best way to get your money back is to build something that appeals to the most people. Price, Quality, Detail. The more of each one of these items it has, the more it takes to build and the less people that can afford the car. You can build the most appealing car on the planet but if the Quality and Detail are sky high, There might still a bunch of guys who can afford it, but how many of those that can afford the car, want it and at that price. Find guys who want a car is easy, finding guys who can afford it is a whole other game.

I know a handful of guys who have built cars and on the first outing were offered close to or more then build cost and turned it down only to sell the car for 1/3 of build cost 2 years later. I also know guys who make great money for a very appealing car if they sell it when "THAT GUY" walks up and has to have it.

I had a potential customer call and offer my current customer double his current build cost to sell his project. The Customer kind of agreed ( who would not )but his wife insanely declined to even hear the offer ( She loves this car ). The guy with all the money did not want to wait the time it takes to build the project and liked that he could name the color and have the truck in 1/3 of the the build time and still personalize the project for himself. MUST BE NICE.

[srh3trinity]

I think you need to be realistic on the front end. I am building a 74 Firebird and I can't imagine that it would bring what I invest in it because it will be such a niche car. It just doesn't have the widespread appeal. I plan on keeping it around and I am building it for myself.