Is it me, or are these cars not really fetching what they should be lately? I have been keeping an eye on Ebay's completed listings, and there are several nice 86 or 87 GN's with less than 100k having trouble fetching 8k?? Really?? A car that should be getting 10 or 12 k?
Opinions?
It's,just another bubble bursting,Things got overblown in the past,because people were using,their home equity,like an atm card,so everybody who owned a home had bucks to burn.Everybody i know kept refinancing every chance they could + pulling out equity,+ buying motor homes, cars,boats,bikes etc. now they have to pay all that back,+ most owe more on their houses then they are worth.
Most people think that this bad economy + lack of buying power is due to unemployment,which is a big part of it but,also the fact that even people with good jobs, have lost so much of their net worth,+ generally feel less rich because they lost so many tens of thousandsof dollars in equity,some hundreds of thousands,+ some even millions.
Some people cashed all theirs out,some cashed out a good bit,but even the ones who didn't cash out,now have sooo much less equity,that they don't feel they can afford to spend.And may not be able to qualify for a loan now even if they wanted to cash out some equity.
notice I said bursting,not burst,I think they will come down more,I see alot of cars on here that i think are still overpriced compared to the value of other types of cars out their for sale now.
I just bought a 02 sunset orange metallic,camaro ss,with 58k mi for $9000,it is super tight and looks+ feels like a new car,the choice was this car or a 96k mi,gn that was loose, rattely,smell like mold,needed the usual work,for $8500.I would have payed $12 for the ss before i payed $7 for the gn.
I put a post in cars wanted + have gotten some reply's with insane prices on cars,not all of them,I realize some people have put alot into mods + are trying to recoup,+ i don't blame them, but some are just dreaming on basic cars for crazy money.
I have been looking,but can't find what i see as a good deal for this economy,Anything that comes up on here for sale that is reasonably priced is snagged up quick by a car dealer or 2.
I think locally the prices are more realistic(craigs list etc.) then on this board because people know that their is a concentration of turbo regal people here so they tend to price higher here,Thats not a shot at this site ,it's the same on any car site that specializes on a certain car type.
In the past i got out of collecting muscle cars ,because the prices got so insane that it was not fun anymore,+ then every speculator + car dealer became a muscle car dealer,+ ruined it.
I Pray that these cars don't become too popular + the collector car dealers,d start buying them up,because before long you won't be able to afford 1,+ they will end up like the muscle cars all wherehoused by the big specialty car dealers,
I don't think that is going to happen tho,luckily,because the muscle cars ,1965-1971,was followed by about a 25 yr drought of performance cars,so the stronger earlier cars became very desirable.now we have the oposite there are so many,300-600hp cars being produced,that ten yrs from now,there will be a glut of used 400-600 hp cars out there,(Their is already 6 yrs of z06 production)the base 6 cly camaro + stang are now over 300 hp,the stock stang gt +maro ss,is over 400 + the base vette is 430 hp.+ they are now talking about big hp, boss stangs + z/28 camaro models,not to mention the mopars,caddy's + you just know the japanese are going to be stepping up with some of their own soon. So i think the turbo regals will always be popular but,the value i think will be kept somewhat in check (A good thing)because there will be tons of very high performance cars everywhere,in a few yrs.
I've got a sneaking feeling the gnx's will be coming down further then they have too,It's tough to spend,$60k,on a 23yr old 300 hp car,only to be had in black + auto,(Don't get me wrong ,I LOVE the gnx's,but i'm a realist) when you can now get a 4 or 5 yr old,505hp,200 mph,stuck like glue to the road,10 sec car, with traction,babe magnet,in choice of colors,(and paint thats not checking) + a 6 spd. for $40k the 06's are there now.+ in a couple yrs will be mid $30's .same with the gt 500's,$35k will get you a mint 2 or 3 yr old 500+ hp, like new shelby,in choice of hardtop or convertible 6 spd or auto.
The gnx's are still going to be valuable,because they are rare,+ unique + most have very few miles, but alot of would-be buyers are going to be seeing alot more bang for the buck value elsewhere.
Anyway moral of the story is ,don't complain that the prices are coming down ,this is a good thing.It was a bubble like all the others ,they are now just coming down to where they should be.
we should celebrate.
Real car guys enjoy 'em.......Spend freely :biggrin:
