The value of these cars

[gnx1219]

someone posted me a reply stating that due to the "market " my 87 turbo t was only worth 7000. Oh really, since when does an original, unmolested, rust free, turn key survivor worth less than i paid for 3 years ago, not even considering the 4000 in upgrades i invested. Its up to members who care about the history and street credentials of these fantastic cars to maintain the values and not sell cheap. lowballers will always play a role, but if you are thinking of selling a TR or GN remember the cult like following these cars enjoy now and in years to come. any thoughts? check out my ad with the pictures and let me know

 

[JOHNDEEREGN]

someone posted me a reply stating that due to the "market " my 87 turbo t was only worth 7000. Oh really, since when does an original, unmolested, rust free, turn key survivor worth less than i paid for 3 years ago, not even considering the 4000 in upgrades i invested. Its up to members who care about the history and street credentials of these fantastic cars to maintain the values and not sell cheap. lowballers will always play a role, but if you are thinking of selling a TR or GN remember the cult like following these cars enjoy now and in years to come. any thoughts? check out my ad with the pictures and let me know

I wouldnt sweat what the gentleman told you, thats is his opinion. Yes the markets on ALL Muscle cars is down, look at GN's, Chevelles, Cuda's, Mustangs you name it.

People are holding onto their cash, But IMHO your price is very fair

 

[Saint Bernie]

It is What the Market will Bear

I am looking to buy a 87 Turbo T and I checked with Haggerty Insurance and they gave me the following current market values from their database based on current sales and auctions:

1987 Grand National low mileage:
#1 concours ready $40,000
#2 excellent condition $24,500

1987 Turbo T low mileage:
#1 $19,500
#2 $16,500

I know all the flamers will come out, but how many cars are really #2 let alone #1. I owned a GNX for 14 years second owner had it show Quality, took 1st place in 1998 at the GS Nationals for Best GNX and I would only give that car a number 2. I see sooooo many cars listed on this board around $15k that are no where near #2. I know everyone is proud of their cars and the really nice ORIGINAL cars can demand that money, but the market will set the price and it really boils down to what someone is willing to pay and you as the owner can turn it down.

Let the Flamers come on

 

[xtremexnyc]

Your T is priced fairly. Don't listen to that dude. I'm sure you have heard this before but if I had some extra cash laying around I would look into purchasing it. Good luck with the sale. To the person who posted that remark. If you are not going to buy it. Really just keep your comments to yourself and let him sell his car in peace. This is why my GN is staying with me. I have no desire to go through the BS I went through when I sold my T. Yes I have been in your position dealing with tire kickers. I even had one idiot come see the car and said he will take it for the asking price and then stood in front of me for like 15mins telling me my car is not worth it. Then he said I will give you $3K for it. You will never sell it for the price you want. Then he gave me an attitude and left. If I ever run into some cash I'm also in NYC and will look you up if the car is still available. Again good luck.

 

[84c10]

Is your car worth the $8800? I'd think so. Is this the time you can get that for it? If you wait.

The problem right now isn't so much that the market is soft, its that a misconception is still floating around out there, and it is slowing the market down.

There are guys out there short on money due to being without jobs, now joined by those out of jobs who will owe taxes. Prices have dropped a little bit, on all makes/models, but not THAT far.

Its just that when you see cars that were advertised here and there online dirt cheap due to hardship, and a need for a guaranteed quick cash sale, *sometimes* the el cheapo and tirekicker crowds wind up thinking that *ALL* cars of that make/model/condition should be that cheap, thus the lowballing you are guaranteed to encounter.

 

[GNBRETT]

I honestly don't see things changing for the better for several years. The economy is improving tho. I dont think its hurting the very low mile mint cars all that much but everything else seems to be suffering.

Times are tough for a lot of people and will continue to be tough for a long while. The stock market is doing well but the economy overall is still a ways out b4 getting truly better for many people.

There will always be more people wanting then selling cars so unless things change for sellers and they can stand strong on a higher price the value of these cars will not go up. Simple economics.

The seller dictates the price, not the market. When MANY start pricing their car higher the value will go up. Not a few but many.

The value has really gone down due to people NEEDING to part with their toys vs. CHOOSING to to say.... buy another toy. The for sale section is flooded with cars under $15k. Sign of the times. You see a nice car for sale maybe once every 6 months now. Another sign of the times.

 

[6banger]

To add another comparison...I have a fishing charter business and see the same "Market" on the boating side. The high dollar boats that cost $100,000 plus are still selling, along with those... say under $15,000. The majority of the ones in between are a tough sell right now. In my opinion the majority of owners in the Turbo Buick community are in the "Middle Class" (if there still is one) and many are very cautious about what they do with their spare funds.

I can see someone coming over to look at a car, really liking it, and finding it a fair price. Just as he`s about to dig out the money in his pocket, the little guy on his shoulder reminds him that he no longer feels secure about his job, and that he has a mortgage, kids or whatever other financial obligations. So now he`s frustrated, and starts thinking to himself about all the problems (even if there are none) with the car. He may be so upset he starts bashing the vehicle to justify to himself his backing down from the sale.

As Brett said I too see us being in a holding pattern for quite some time as far as the economy goes. I was a Tool and Die maker for 23 years and lost my job to both the overseas market as well as technology. The stuff that used to take 40 or so hours to complete manually on a machine can now be done in a fraction of time with automation and computer aid.

Unfortunately many decent paying jobs are going in the direction of the typewriter, 25 years ago everyone had one...today try and find one.:frown:

It`s entirely up to you on what you end up selling the car for, your situation is yours alone.

Good Luck with the sale, appears to be a good buy judging on the pics and information provided. (IMHO more pics will only help you)

 

[charlief1]

I know this may be a silly question but shouldn't this be in the lounge?

 

[flbuick]

GN Pricing

6banger is describing me, to an extent. I am in a position to replace my 86 GN (with another GN or GS455) that I sold in late 09 but cannot pull the trigger due to the uncertainty in the economy. I have great income to debt ratio, some cash on hand and money in a 401K tied to the stock market but I am also self employed and depend on other companies for my work and who knows if they will be in business long term. There is just too much uncertainty in the current economy. My advice, for what it is worth, hold on to the car if you do not get your price. The market will turn when people like me find their comfort level.

 

[kh440]

The collector car market is in the toilet period. Whether this is just the reaction from the outrageous prices we all saw 3-4 years ago thanks to Barret-Jackson, or the fact people are just holding on to their money bottom line is it's a buyers market, and will likely continue to be for 2-3 more years. Unless you are just desperate to sell, I'd just hold on to it at least until after tax season ends.

 

[6banger]

I know this may be a silly question but shouldn't this be in the lounge?

I was thinking the same thing before I replied. After seeing the number of hits the cars in the "For Sale" section have...and how many are still for sale I figured I`d chime in, perhaps keeping it here as well as in the lounge may be an answer.

With gas prices heading up again you`d think these cars would be more attractive than feeding a hungry big block powered car

 

[GNBRETT]

Whether this is just the reaction from the outrageous prices we all saw 3-4 years ago.

Thats true as well. The collector car market was bound to burst just like the housing market did.

Many who bought cars used home equity lines of credit to do so. Not very many people can do that even if they wanted to right now. Many are having a hard timing just paying the mortgage, nvrmind buying a toy.

Not to mention buying a car as old as a TR means ur gonna have quite a high interest rate these days. My credit union rates for a used car 7-25 years is 8.0%. Thats rediculous.

 

["Turbo-T"]

I saw your car and what you're asking from the pics I'd say is a fair price. I don't know what to say about low ballers other than they will always be around. I know 3 years ago before the market tanked I was trying to sell a restored cranberry red 1971 Chevelle Malibu with a big block V8, black vinyl buckets, 12 bolt rear, SS grille and hood, dual exhaust, Weld rims...it wasn't an SS car but it was close, short of the absence of the SS badges...the car was an easy $10k car....I had one guy offer me $3k for it. I told him he was an idiot. Then he comes back with a "please man i really want this car...I'll give you $5k for it". I told him to get lost, that I wasn't about to "give" it away.

I did offer my TR (and my 4X4 S-10) up for a trade on CL for a decent used 4X4 quad cab truck once...had some bozo emailing me saying "your car is only worth like $3,000"...tried telling said idiot it was a turbo car that is worth more...they still didn't believe me, I think I sent them the nadaguides link that showed it was actually worth $12k....they never responded.

Screw them. I'll keep my car before I give it away. I don't need it but I also don't need to lose my ass on it either.

Stand your ground....tell them you don't give a flying **** what they think it's worth, if you want it you'll pay for it, if you don't you won't. Money talks, bull**** talks.

 

[bishir]

Ours cars are way undervalued IMO. 1. Parts are expensive. 2. They are one of the coolest cars ever made, and even on a huge event such as the Hot Rod Powertour it stands out. 3. It's a Hotrod you can live with.