very true.

True, but if I had the $$$ to buy a ZR1, I'd be driving in, not polishing it with a baby diaper.

Matthew

:sign3: If I wanted to LOOK at a pretty car I'd take a picture. We have 4 sportscars and we drive 4 sportscars. (and repair 4 sportscars) Sorry,no ZR1s

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Wow Tommy....Nice Stable

Gary

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Nice Tommy....I was trying to buy an old porsche before the vette, but my buddy who owned the body shop never got around to putting it back together (after 2 years....) I leaned on him and had $$ to spend, but he just stuck it on the back burner. Oh well, I'd still like one. Yours look sharp.

Matthew

Here is my take:

Collectabilty is based upon a number of factors, not withstanding, limited production numbers and high desireabilty - but those factors are not mutually exclusive.

What that means is simple, just because it is rare doesn't make it valuable.

New collectables are even more stupid. This means that they are buying on a really bad bet which is dependent on the manufacturer only selling a few, but the final tally is unknown. However, for a vintage collectable, that's been well established, hence a basis for this supposed value. This is what undid the 1978 Corvette Pace car... too damned many and GM made more than announced. It diluted the market. Everyone who wanted one, got one and those that didn't care, didn't matter to the equation.

New cars are simply status symbols. That's it. Nothing more, nothing less. And a few WILL become collectable, but for the most part, they have to run their 20 year depreciation cycle. Once that has passed, you can expect rare (and marginally desireable) cars to go up.

There are a few exceptions, the Ferrari F40 and 288 GTO were, and always have been, valuable. The Enzo is still depreciating. Same with the F50.

The Buick Grand National GNX was one of those instant collectables, they have always stayed at a certain price point. But what helped all three out? A fixed known production limit.

Now, with that said, I don't see the Mercury Marauder of a couple years back, or the most recent GTO becoming collectable. They were not very popular new. Then comes the reality - I don't see many modern cars becoming collectable. There is way too much plastic and the electronics will be their ultimate undoing.

I am always astounded when people pay a king's ransom above sticker for some new "collectible", like the Ford GT in recent years, and then watch others scrambling to try to recover something close to sticker when the merry-go-round stops. It's not to say that some or most of these cars aren't desirable or fun, but they should be owned to be driven and enjoyed.

Stuff that's really expensive new never seems to increase in value.

Yes they might be rare, but they were way out of reach and never on the radar screen of most adolescent males.

This is why the prices on Chevelle SSs and Hemi Cudas, etc. are nuts right now. Hell, a rotted out Charger with a dead motor goes for about $10K.

The other side of it, is when you have a car like say, the 1990 ZR1 come out(over $100K in todays dollars), that can only be afforded by wealthy guys, most of which happen to be much older than average, these guys are already kicking the bucket before those cars ever get the chance to become desireable. And if they're not, then they're at least closer too it, it and less likely to spend their money on buying back their glory days.

Actually if Sal (the author) had held onto that car a few more years he would have likely made some money on it. He bought it at the right time, about 15 years old for $28,000. Had he held it for 5-10 years, I think he would have come out with some profit. The trick with a car like the ZR-1 (the old one) is to buy it now, when most of the depreciation has already occurred, then hold it a while and sell when good ones are becoming increasingly rare. But to buy it new and expect to make money. . .unless you are 20 and can wait 40 years. . .you are probably kidding yourself. Just like anything else, the trick is buy low, sell high.

I agree with both assessments. If you were to buy a new ZR1 today and not drive it, in 40 years it would be worth the effort or money I should say. Short term though, no way. Just because it's rare doesn't mean it's desirable or valuable.

A little insight. I don't own a corvette. I'm too poor. I do however own something few Corvettes can claim. I own a 1 of 26 made. It's a 96 WS6 Formula. Only 26 were made with the T56 and silver paint. 525 for the total model. What does this mean? Squat. These cars bring a little more than the regular Formulas. Aside from that, no one cares. Maybe in 20 more years they will. Right now though is too soon. So I am at 170k miles and going strong. I bought the car to drive and enjoy, never for resale value.

Maybe I am looking at it wrong, but buying a car today, not driving it for 40 years, and selling it for 5 times what I paid, still feels like a bad deal to me. In dollar figures though, that's a winner. Decide for yourself which is the better deal.

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Andy,

I am just wondering about your take on the 96 Impala SS. I take no offense to whatever you think. I bought mine to drive and before $4.00 a gallon I drove the hell out of it. But I do see prices at worst, stabilizing, and at best above the original cost, even though GTO prices continue to plummet. Keep in mind they went for $22,000 new.

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I do agree though, if I had a ZR1, I would drive the ZR1, 1990 or 2009.

DG