My parents took their super nice and clean '76 to the Classic Car Auction held and the Louisville Fairgrounds this weekend. Lots of nice street rods and muscle cars, but you could tell motivation was down, I guess due to the economy.

Anyway, its a NOM 4-speed, white with new interior and tons of other new stuff done to it.

Lets see...he paid $13,500 for it 2 years ago. He owes $9500 on it now. He had to pay $250 to get it in the auction and then 10% of the final sale value.

It sold for $9000 and they took it. So he is really only getting $8100 after the fee so he still owes the bank $1400. How silly is that?

OUCH !!!!!!!!!!!!!

sounds either desparate or stupid. I am not sure which. Sorry, I don't mean to insult your parents...

The sale price was way too low for a 4spd Shark.

Now, if it had an NCRS cert of some sort, that would have helped a TON.

Lesson: never finance a toy...

issue #1: He paid too much for it...

issue #2: Didn't ever drive it

issue #3: Financed it

issue #4: Desperate to get out of it.

Man, that is a shame

If I had the money, I would have bought it. It was really nice. Lesson learned for them I guess.

That's a real shame. This is not a good time to be selling anything. I toyed with the idea of unloading the pacer, but decided to Rip van Winkle it for several years and let the prices rebound.
Mike

Quote:


I have to respectfully disagree.

The market for '76s, no matter how nice they are, is really near the bottom of the C3 food chain.

Bummer they ended-up being upside-down on the sale.

Quote:

To some degree, I agree with both of these statements.

Being a former '76 Stingray owner, I didn't get much more than I paid for mine when I sold it after owning it for 6 years. I bought it for wholesale thru the dealership my son worked for ($4400.00). Sold it for $5K. It had about 95k miles on it. 4 spd. L48. These monsters had a whopping 180hp. (The wife's mini-van has more). I put quite a bit of $$ into it.

While I liked mine, and wished I still had it, they deffinately aren't collectable types.
Now, a steel bumpered C3, that's a different story.

Being a current '76 owner, lol....I agree that they are not the most sought after, but I wouldn't deny them being "Collectible types". They are over 30 years old and they are getting more sparse every year. They are still "Corvette" regardless of year.

With that said, I would have a much easier time selling my NOM '71 over my Matching Numbers '76 if I decided to sell.

But I have really enjoyed both of them the same and that's why I have them.

Unfortunately, the market is tanked right now and it would be hard to sell any toy for what you want unless you find the right buyer.

I need to define "the market has tanked."

Yes. And no.

The market is still strong with the big investor/collectors. Where it has taken a crap is down low in this market.

From a collectors standpoint, a $10k car, unless it fills a specific need, is nothing more than an expensive used car.

Which means that the demographic which would be interested in a 76 Vette is broke.

Well, then...it has tanked were you, I, and most of the rest of this forum are.

exactly.

Don't ever forget, for every $4 million Ferrari, there are a gazzilion other POS's that sell...

And that market for the $4 million Ferrari hasn't sunk yet.