What do you think the future holds for the classics in value and demand when gas tops $3, $4 or $5 per gallon? If we are indeed near or past the peak oil and are headed in another fuel direction in the next 15,20, plus years, will a majority of these cars drop substantially in demand (and value)? Given that there would be a diminished market that can afford to operate these cars will there be a glut of desirable cars and thus a buyer's market?
Here's waving to ya - \||||
Owen ___
'67BB & '72BB
-- not affiliated with JLA forum in any way -- alt.autos.corvette is original posting -- ___
"To know the world intimately is the beginning of caring." -- Ann Hayman Zwinger
If you have been following the fuel mileage thread, you noticed that the newer Corvettes are actually economy cars averaging nearly 30 MPG on the highway. If anything, this should boost their value.
It may be a very long time before that happens, as they go up in value they are driven less and most are trailer queens. There may be some very slight market adjustments for those that think they are investments but that will be very slight. They become possessions not cars to be driven. Look at how many think of the Corvette like that now, some just sit at the shows and the owner thumps his chest, what a shame. Even my '72 is driven for the fun of driving it, not to a show (off) for other people to see. To each his own.
Nothing beats the sound of the 4 barrel opening up when you hit it in second gear or seeing triple digit speeds.
The money I save on buying my diminished value corvette will buy a lot of gas. I do not drive it every day in a commute. For that I have a Mini Cooper. Either way I have fun.
============================ Increased Gasoline prices will have absolutely no effect at all ... on either the demand or the value of ANY Collectable Vehicle...
Honestly none of my Corvettes ARE COLLECTABL:E...just not that rare
Collectable Vehicles normally sit in a garage anyway... with the biggest costs going for Insurance and Wax... or an encl;osed trailer to haul it across town...
Going to make the Round trip up and back to Carlisle later this week... about 160 miles per day so I'll put close to 500 miles on it this weekend... most highway miles so I figure I will buy 30-40 gallons of Gasoline at 2,87 per gallon..
'What do you think the future holds for the classics in value and demand when gas tops $3, $4 or $5 per gallon?'
REPLY: For collectable Classic Corvettes, i dont think gas prices will matter at all because collectable Classics are hardly ever daily drivers. I have a 1970 454 (built up) Corvette , 4 speed , T Tops, totally restored... which is highly collectable....and it gets 12 mpg around town/14.5 on the highway -- i drive it no more than 2500 miles per year / never in the rain/ and only between APril thru Oct. Id imagine most people interested in buying it down the road, would do the same.
====================================== Just curious...
I sure do DO NOT WANT to "piss" you off ..HONESTLY...
But why or how is any 1970 Coupe .. ( HIGHLY ) ... Collectable...? Damn nice car for sure, and one I would be very happy to own... I would call it HIGHLY Desirable ! Is it even a Collectable...? not alone a highly collectable car?
Guess what I really want to ask is how do we define a Car as Collectable...?
I do share your driving habits however...gareage doors open on April Fools day each years and I drive mine thru TURKEY DAY (Thanksgiving)
'I sure do DO NOT WANT to "piss" you off ..HONESTLY... But why or how is any 1970 Coupe .. ( HIGHLY ) ... Collectable...? Damn nice car for sure, and one I would be very happy to own... I would call it HIGHLY Desirable !'
REPLY: 'Highly desirable' and 'collectable' are semantics. If its highly desirable , then its going to be something that qualifies as collectable . Its desirable because: 1. Early C3's are far more reachable (in price) than late C2's are 2. "Early" C3's are the last of the true performance C3 era Vettes...especially those with big block motors with 4 speeds and 370 rears . 3. Early C3's have escalated in value quickly (mine has doubled in price in the last 8 years , conservatively) 4. Early C3's are from the Baby Boomer era and many of these middle -aged folks can well afford a performance car that they grew up around/or once owned .
'Is it even a Collectable...? not alone a highly collectable car?'
REPLY: The 454 motor (alone) in an early C3 vette jumped 35% in value in 'ONE' year according to Corvette Fever mag. spring 2003 issue.
'Guess what I really want to ask is how do we define a Car as Collectable...?'
REPLY: 1. Do people 'want it ' 2. Was it a relatively low production car with its motor and options 3. Is it a good investment 4. Is it something that brings warm fuzzy feelings cause you grew up in that era
Is it a piece of Americana . 6. Does it go rumpity, rumpity, rumpity rump 7. Do u have to go to the Chiropractor for a neck adjustment each time you floor the gas pedal .
'I do share your driving habits however...gareage doors open on April Fools day each years and I drive mine thru TURKEY DAY (Thanksgiving) Bob G.'
REPLY: Then is should last a long time , stay in good shape, and steadily increase in value .... all while you enjoy it immensely . Essentially, you are owning it and driving it 'for free' , due to the appreciation its bringing.
Fully one third of the 70 Corvettes were 454 and not much on the collector side of the coin. Now if it were a ZR1 with the M22 tranny which added $1,000 to a $5,000 car you are starting to get very collectable. That might be because there was only 25 built.
Bob, I'll pick on you since I feel I can given the sawdust in our hair...
The replies sound like folks are only looking at the short term effects of higher fuel prices. What happens in 10 years? or 20 years? 40 years? What happens when petroleum-based fuel is no longer used for personal transportation?
When will gasoline burning cars become similar to the film cameras of today's digital world? The typewriters of a decade ago? Or the horse buggy of a century ago? Everyone had these things - they were a part of everyday life - but better technology came along and each product's reign ended rather abruptly.
You may count me as supremely selfish, but I'd hate to be hanging on to a desirable, increasing in value item today that will be rendered practically unusable by a technological advance within a very short span of time from becoming widely available.
Do you think gasoline will become unavailable for a reasonable price in the next 30 years? Do you think these cars will become door stops because there aren't enough people that can afford boutique gasoline? Are the only cars worth keeping going to be the ultra-rare, 1 of 25 produced that end up in a museum somewhere?
As much as we may wish not to believe it, Corvette "collecting" is not even in the ballpark of true automobile collectors. Those folks are looking at $1/4 million and up, super rare, one-of-a-kind cars. There are only a handful of Corvettes ever produced that would meet this criteria. The rest of us are relying largely on folks of similar socioeconomic states as ourselves to buy these cars to keep the value climbing. What's the upper price limit for gasoline to run these cars for people like us? In other words, when does the cost of ownership exceed the perceived value?
Here's waving to ya - \||||
Owen ___
'67BB & '72BB
-- not affiliated with JLA forum in any way -- alt.autos.corvette is original posting -- ___
"To know the world intimately is the beginning of caring." -- Ann Hayman Zwinger
'Fully one third of the 70 Corvettes were 454 and not much on the collector side of the coin. Now if it were a ZR1 with the M22 tranny which added $1,000 to a $5,000 car you are starting to get very collectable. That might be because there was only 25 built.
'What's the upper price limit for gasoline to run these cars for people like us? In other words, when does the cost of ownership exceed the perceived value? Here's waving to ya - \|||| Owen ___'
REPLY: Good question Owen . I think the answer can only be in 'the wallet' of the beholder. I hope , gasoline would have to get VERRRRY high in price before people would stop entertaining purchasing high performance classic cars.
On Wed, 24 Aug 2005 23:09:56 -0700, Barking Rats puked:
I think that a lot of people will hold on to cars because of their historic value, but I think hot rodders that like to drive their vehicles will yank the engines out, store them, and find a way to retrofit tomorrow's technology between the fender wells of their classics.
How does a fuel cell C2 sound? To me, not bad...
-- lab~rat >:-) Do you want polite or do you want sincere?
MotorsForum website is not affiliated with any of the manufacturers or service providers discussed here.
All logos and trade names are the property of their respective owners.