GN prices are going up

[lieu910]

My GN was appraised at 21k last year. Just had it reappraised this year and they increased the value to 24k.

I know they pad these appraisals a bit, but nonetheless values are going up boys.

The appraiser said clean low mileage GN's are starting to really take off in value.

Higher mileage GN's are still affordable thankfully.

 

[Marc87GN]

Originally posted by lieu910
My GN was appraised at 21k last year. Just had it reappraised this year and they increased the value to 24k.

I know they pad these appraisals a bit, but nonetheless values are going up boys.

The appraiser said clean low mileage GN's are starting to really take off in value.

Higher mileage GN's are still affordable thankfully.

Did they mention if the GN must be all original or modded doesn't hurt if the mileage is low and the car is super clean?

 

[84gnguy]

A low mileage,unmodded GN/T-Type will always hold its value.

 

[Marc87GN]

Originally posted by 84gnguy
A low mileage,unmodded GN/T-Type will always hold its value.

That makes sense. I was going to keep it stock, but my ego couldn't tolerate getting beat by these Turbo 4 cyls. I'm sure modified, they still hold there value quite well. I have had 2 offers to buy my car for more than I paid for just simply because they aren't too common. I have seen maybe 2 locally on the street since I bought this one. There are 5 Mustangs on my block alone. Could be why I didn't buy another Mustang.

 

[lieu910]

Originally posted by Marc87GN
That makes sense. I was going to keep it stock, but my ego couldn't tolerate getting beat by these Turbo 4 cyls. I'm sure modified, they still hold there value quite well. I have had 2 offers to buy my car for more than I paid for just simply because they aren't too common. I have seen maybe 2 locally on the street since I bought this one. There are 5 Mustangs on my block alone. Could be why I didn't buy another Mustang.

Yes and no was the answer I got from the appraiser regarding modifications. Here's how he qualified it.

Ultra- low mileage cars - in as delivered condition are at the top of the list for collectors. Anything outside that catagory, low mileage cars with light mods or stock are comperable. Obviously if it's heavily modded and cannot easily/cheaply be returned to stock condition then the water gets a little muddy.

I asked about mine which has bolt-on mods, i.e. stock location I/C, turbo, etc. He said it's no different than the 69 Camaro with a lightly modded small block. Light mods on good lower mileage cars won't do much to the value up or down. He did say that providing the original parts along with the sale is a plus.

His final word of advice was that people are paying attention to GN's. Whatever that means.

 

[Marc87GN]

Originally posted by lieu910
Yes and no was the answer I got from the appraiser regarding modifications. Here's how he qualified it.

Ultra- low mileage cars - in as delivered condition are at the top of the list for collectors. Anything outside that catagory, low mileage cars with light mods or stock are comperable. Obviously if it's heavily modded and cannot easily/cheaply be returned to stock condition then the water gets a little muddy.

I asked about mine which has bolt-on mods, i.e. stock location I/C, turbo, etc. He said it's no different than the 69 Camaro with a lightly modded small block. Light mods on good lower mileage cars won't do much to the value up or down. He did say that providing the original parts along with the sale is a plus.

His final word of advice was that people are paying attention to GN's. Whatever that means.

Interesting information and of course, this is just one appraiser. I have used 3 to see the same house and all had 3 had different numbers, but overall, it's probably true what he is saying.
I actually didn't buy the car for resale because it would be an extremely poor investment IMO. I would like it to keep alot of it's value which it will simply because as time goes on, low mileage GNs will become even more rare. I have 51,600 miles on mine and it's 100% garage kept and driven only about 1500 miles or less per year.

The value of my house has gone up 100K over what I bought it for a year later. If a person invested in a house in 87 where I live and sold it today, they would have made over 500K. I see your point though about mainaining them and getting some good coin for them. I plan to get 400-450+ rwhp out of mine and have fun with it.

 

[Little6pack]

How do you think appraisers stay in buisness?
They tell you what you want to hear.

This happens with real estate brokers. They come in & tell the poor seller a higher price so the seller will list with them.
Then reality sets in & market pressure dictate.

 

[84gnguy]

GN and T-type prices are going up-period
And for that matter,all muscle and special interest cars values are increasing.
There is a great mix of cars out there to suit any enthusiasts needs.

 

[1987BuickGN]

Im assuming for insurance purposes, but what is the intent of getting an appraisal for these cars? I just insure mine for a stated value, but is it for a guide for resale (I ask because it doesnt seem consistent with sale figures), or is it for something else. Just curious.......

 

[lieu910]

Originally posted by littlesixsteve
How do you think appraisers stay in buisness?
They tell you what you want to hear.

This happens with real estate brokers. They come in & tell the poor seller a higher price so the seller will list with them.
Then reality sets in & market pressure dictate.

I disagree. I paid $100.00 for the appraisal, so how does he benefit by telling me the car is increasing in value? His fee is the same regardless of the vehicle's value. He was using Hemmings and NADA as some guidelines.

Everything doesn't have to be a conspiracy.

 

[Little6pack]

Originally posted by lieu910
I disagree. I paid $100.00 for the appraisal, so how does he benefit by telling me the car is increasing in value? His fee is the same regardless of the vehicle's value. He was using Hemmings and NADA as some guidelines.

Everything doesn't have to be a conspiracy.

Why even pay him if he is using the same books you can use.
Does your insurance company not trust you?

As for resale, unless the buyer wants an independant party to confirm it for a loan then maybe the use for one.

 

[lieu910]

Originally posted by littlesixsteve
Why even pay him if he is using the same books you can use.
Does your insurance company not trust you?

As for resale, unless the buyer wants an independant party to confirm it for a loan then maybe the use for one.

They require it, and if I were an insurance company I'd do the same before I agree to a replacement cost.

 

[RBE17]

Originally posted by 84gnguy
GN and T-type prices are going up-period

Absolutely. The GN was the only car I've owned where I sold it for more than I paid for it. I owned it 15 months and sold it for $1800 more than I paid for it. I added a Scanmaster and did the spring cleaning. As far as cars are concerned, it's the best investment move I ever made.

Later,


Steve.

 

[Little6pack]

You could by almost any muscle car in this market & in 1 or 2 years make $$.

And with certian models even more.

 

[davege]

Originally posted by lieu910
My GN was appraised at 21k last year. Just had it reappraised this year and they increased the value to 24k.

I know they pad these appraisals a bit, but nonetheless values are going up boys.

The appraiser said clean low mileage GN's are starting to really take off in value.

Higher mileage GN's are still affordable thankfully.

I am curious what my two TTA's would apprase for. Who did your apprasial? How do I contact them?

You can email if you do not want to post here.

- Dave
SuperDutyDave@hotmail.com

 

[dgreen1069]

My insurance company also required an appraisal for a stated value policy. My car also received a $24,000 value so your guy seems like he is on the mark.

 

[bogie1]

I paid 17K+ for my GN new in 1986. That is at least 34K in today's money. I would be lucky to get 8K for it today. Enjoy it, drive it, race it and be proud of it but unless it is a very low mileage GN and you got it for nothing, It's never going to be worth what a Hemi Cuda convertable is. Buy Land.

 

[Phoff]

GNX's will get close to a Hemi in a few years....the only thing not going for the GN is they mad over 20k of them.......

Pete

 

[TClassic]

While it's Certainly True that the GN's are going up, guess what:

The T's and TTA's are NOT GOING UP with them!!!!! Sad but true..after selling my low mile Limited for Peanut's, compared to a Similar low mile GN, I had ~18K to spend and REALLY wanted a MINT MUSEUM QUALITY GN, but with 18K that wasn't happenning, and I've been looking EVERYWHERE since at least last November

So I finally setteled on a Mint TTA instead.......

 

[fast86gn]

Originally posted by Phoff
GNX's will get close to a Hemi in a few years....the only thing not going for the GN is they mad over 20k of them.......

Pete

Over 20K of them in '87 but only 5500 in '86!

But still even if you add all 4 years together 84-87, that is not a lot of GN's. Just think of the population.