Real values on our PT cars....

[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!

[Autokraft]

Very well said!

[Vegas69]

Another reason to actually USE the car. You'll never recover your investment so you better enjoy it.

[elitecustombody]

Originally Posted by Vegas69

Another reason to actually USE the car. You'll never recover your investment so you better enjoy it.

Amen,brother!I don't see another reason to build a car if it won't be used and abused, but that's just my opinion

[HRBS]

the guys that have those up there for 275 are the ones who hear 's' from there other half and put it up for sale just to shut them up... as in... "see i put it up for sale but no one is interested"... works every time !

[DriverzInc]

Originally Posted by Vegas69

Another reason to actually USE the car. You'll never recover your investment so you better enjoy it.

Hell yeah!

[Vegas69]

I often hear from homeowners, this will be my last house and I'm going to die here. Five years later they are calling to sell because the wind changed directions that morning.

Personally, I think you always need to look at resale. While these aren't investments, we all want to take the smallest loss possible in the event we do sell our babies.

For example: A black 1969 Camaro with subtle mods and a big block chevy. Never going out of style.

[Ron in SoCal]

Originally Posted by Vegas69

For example: A black 1969 Camaro with subtle mods and a big block chevy. Never going out of style.

Aint nuttin subtle about that, Pal...

[chr2002ca]

Originally Posted by Vegas69

Five years later they are calling to sell because the wind changed directions that morning.
...
For example: A black 1969 Camaro with subtle mods and a big block chevy. Never going out of style.

We have a fairly constant onshore flow here in Del Mar so the wind rarely changes direction for me. And I bet they didn't build that house with their own hands.

Subtle my ass. Understatement of the week. You got the style part right though.

[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