Whether 71 Cuda or Challenger: Lets talk recent worth again....................I've been to three TV based classic car auctions over the past two years. I went because you will see a group of cars in one place that would take 10 years of going to car shows , and I like to see exactly what condition these cars are really in. Plus the auctions happened to be close to where I was at the time......
Im a private restorer. Ill get a project, (sometimes more than one at a time), restore it/them, drive it, then sell it and get another project. Not a business, truly for pleasure and I actually like restoring more than driving at times. I stick with late 60's, early 70's, GM, Mopar, it doesnt matter. HD's, 50-60,s as well. Paint, interior, mechanics, I have done it all, and ost folks say my work had been pretty good
My point is when you sell these cars, like I have/private owner, I went with basically just a local newspaper, along with an add in some of the national based cheaper classic car for sale mags you see up on magazine racks and internet sites: And not once have I actually recouped what I have put into any car that I have sold. And I'm just talking parts/resto supplies here. Forget about the sometimes hundreds of hours labor I have put into any one project
None of these projects have been quick turnarounds, like getting a car for 3K, fixing the basic eye candy, then turning it over for 10K
Ok, back to the subject: The big TV auctions I went to were allot of fun. And interesting in the fact that many of the cars were actually fairly rough, and not the perfect car as seen under the studio lights. Let me explain...........
By rough, I mean by relative comparison of what you might expect at such an event. I saw allot of repaints, with poor chrome: Pitted, glazed bumpers, pitted emblems, faded and glazed over window trim/headlight bezels, instrument gauge face covers. Some of the cars that passed by on their way to line up had only one brake light working. Interiors on allot of the cars: it was apparent the front seat covers had been replaced, with the original rear or older rear seat covers still in place, and sometime new front carpet, old rear
Now I am not knocking these type of cars. But they are apparent "dust off, do the minimum, "get it sold now cars" And who knows how much work down deep do they really need. But they sell, and the beer/mixed drinks that flows in the aisles, the "magic"of the atmosphere, the TV hype, along with all of the resto shows over the last 15 years, make the prices sky high bat most times: Think, "Casino Mentality" And the "County Fair" type barkers/saleman in the aisles, and the fast talker up on stage, really fuels the bidding fires: They are genuises at the craft
Then the other end of the spectrum: The high end, full blown, by nut and bolt restos: But these cars are the exception. Not many of these cars are around anymore, and even those do not get the prices they did 10 years ago, (with few exceptions)
Have you noticed, there are VERY few 71 Cudas anymore at these auctions, ebay or on the net: Myself, I believe any left available have just about been all sold off, whether original, survivor, resto mod or junk. And thats likely the key to price if sold: Rarity of AVAILABILITY, and how bad a person wants one. So either people are holding on to them as a future investment to sell, or some folks just want to keep it.
Regardless, I believe the market has bottomed out and will not improve on classic cars, unless you have that pure survivor, or an especially rare exotic or optioned car. And even these types will be kept within exclusive groups of buyers, if not a group of investment buyers.
Here is an example. A 69 charger, with all body work done and painted, with a hopped up non matching 440, aftermarket K member, tranny, etc, all looking good and professionally done. But interior need to be replaced, etc , etc. Still ALLOT of work needs to be done. The owner wants $85,000 Frankly, it aint gonna happen. The owner wants to recoup all of his parts costs, as well as his labor. Just like the Grave Yard car show, but w/o the reputation and TV hype
Look at that show in Miami, the bald headed guy with the blonde wife that turns around cars. Look CLOSELY at what he sells. They are ROUGH. But he buys them cheap, buts in minimal effort, then marks them up 100%. Thats his biz, and he is good at it, and he makes no qualms about it.
So..........The current worth of cars, to me, has been on a decline, and will stay that way, with few exception. The people/private owner that wants every cent they out into into it, then wants to sell it at a huge price just to make a little profit, or at least break even, are pretty much over. The glut of cars sold to impulse, or to turn over/buyer. sellers, I think has reached its peak. Even the guys that has the rusted out heap in his back yard, thinks he can charge 10's of K's over what its is really worth: Thanks the auction/resto craze. But believe those days of self conceived reality are pretty much over
Look at the HD craze back in mid-2000: They sold like hotcakes to the impulse crowd. Now you can get used HDs, with 5-6000 miles on them super cheap. Yes, I know, not the same thing, but I believe you get the somewhat comparison
I have 71 Cuda. SUPER body, EVERYTHING HAS BEEN REPLACED. mostly with aftermarket/repro parts. Shaker, 68 dated 440, TKO 500, FAST EFI, from the outside it looks original. Originally a 225 and I have the build sheets: But my car will not sell for nearly for what I have put into so far, no way, even if I just sell for what parts I have put into it so far, (to include the car itself when I first got it). Maybe 10 years ago, but not now, and I dont think so in the future
Also, I believe the resto craft is on the downslide. By that, I mean the average 18 year old that wants a "older/cool car". The days of the teenager/young adult, tinkering with an affordable, 60s-70,s muscle car are somewhat over. I mean even wrenching on older iron you cant even do in a lot of housing areas nowadays
Which brings us to the new Challengers. If you an get a Hellcat for the advertised 60K, you got a SMOKING deal. I believe you might get one for 60K, IF you trade in your fairly new, 2012 426 Hemi. And even then you will get a trade in beating......The Hellcats will most likely go for 80K
I think you will see pretty good deals on used 426/SRTs, from trade ins for the new Hell Cats
Back to us old Mopars: Yeah, I know, a little depressing, buts thats where I see the worth of older cars going
