Classic Prices

Snelens · 20-01-2011, 04:02 PM

I have been scanning carsales, fee bay, trading post etc & it surprises me how much the older stuff is selling for.
I can understand collectible cars that have a racing history like GT's, Monaros etc but do the old XM utes really sell for $28K??

1964 FORD FALCON UTE XM DELUXE UTE
$28,000 (on carsales and it looks beautiful I might add)

I can understand that the owners have dropped bundles into these cars but are they really selling for the asking prices or do they just sit there on the net for ages and not sell (or sell for greatly reduced)?

Please dont think I am knocking these cars or owners I am just surprised at the amounts asked and wonder if any forum dwellers have had experience in selling /buying these classics and the actual prices being realised.

jphanna · 20-01-2011, 04:20 PM

there is a guy i work with that scours the ads australia wide. because mainstream obvious classics such as the GT-HO, GTR, GTS, E49 etc are out of reach now, he looks for stuff, such as the ute mentioned, very low numbers, something that because of its rarity, may make such high asking price justifyable....to a sucker.

i have known him since 2004, and he is doing a roaring trade. he will track down a car he wants, put notes on windscreens of 'classic' cars that he may see parked at supermarket etc...then make a rock bottom offer to soemone who is genuinly honest, then flog it off to whatever sucker he can find. he will hang onto it for months, even years until that sucker is found. i haev seen his back yard, its full of 'classic's.

max_torq · 20-01-2011, 04:42 PM

Look at the cost now to restore a car. That is going to set the cost of a nominally very nice car, I'd say around 40K currently. For a decent classic of any type that doesn't require restoration, about 10K is probably the minimum reasonable. Anything in between and beyond is going to depend on originality, condition, rarity and desirability.

**Polyal** · 20-01-2011, 05:01 PM

So is the question about classic in general or the XM?

The XM..id so no. No XM is worth $28k unless its a minter coupe...IMO.

I look at sites and magazines too much and IMO classic in general have slowed down. The really good ones still fetch good money but they seem to take longer to move.

Have a look at all the replica GT's now, they are going for much less than they were not to long ago. I wouldn't say its a down turn, but its not going up in a hurry either.

Neeek · 20-01-2011, 05:05 PM

Remember that what a car is advertised for is not necessarily what it sells for. We've all seen cars for sale with high sticker prices, and they end up sold... but you never know what it actually sold FOR.

I recently saw a '65 Galaxie convertible for sale for $45,000. Only an idiot would pay that much for one unless it was basically brand spanking new. It'll probably sell, though, if the owner can be convinced that a car is only as valuable as what someone is willing to pay.

nstg8a · 20-01-2011, 05:05 PM

Quote:

Originally Posted by Polyal

So is the question about classic in general or the XM?

The XM..id so no. No XM is worth $28k unless its a minter coupe...IMO.

I look at sites and magazines too much and IMO classic in general have slowed down. The really good ones still fetch good money but they seem to take longer to move.

Have a look at all the replica GT's now, they are going for much less than they were not to long ago. I wouldn't say its a down turn, but its not going up in a hurry either.

id agree with all that, prices have definitly eased for the mainstream classic, 20k now can buy something quite cool, and quite mint.

il be shopping myself in about 4 months, i already have one possible lined up, but it would be foolish to not keep looking while i wait for my bank balance to recover.

**Polyal** · 20-01-2011, 05:09 PM

I wouldn't rush, I think prices will even come down a bit further aswell. If rates continue to go up people often have leveraged their classics aswell and things get tight.

Im buying in December, so no rush, but its interesting to watch.

aussie muscle · 20-01-2011, 05:23 PM

the GFC has scared away a lot of 'investors' and most buyers are probably genuine enthusiasts.

nstg8a · 20-01-2011, 05:27 PM

Quote:

Originally Posted by aussie muscle

the GFC has scared away a lot of 'investors' and most buyers are probably genuine enthusiasts.

the way it should be...

GT0132 · 20-01-2011, 05:30 PM

Quite often what one wants and what one gets are quite different.

Yes a lot of people stick their cars on carsales.com and just let them sit hoping for top dollar. There's Cobras still on carsales.com after nearly 3 years still wanting 75-80k

Geez Louise · 20-01-2011, 05:34 PM

Is my 1994 Ford Festiva a classic yet??

Maybe not a classic. Might advertise it as "Rare". It is still drivable!

disco · 20-01-2011, 05:36 PM

I give a lot of credit to the guys who had their classics for many years and didn't dump on it and cash in when the investors all hit the market.

I remember back in '07 I owned a very original VK Group A Brock Commodore, I was offered $125K for it by a muscle car dealer!!!

I was tempted, but I loved the car and my missus insisted that I NOT sell as I had a passion for the car.

To put it into context, 2 years later I did sell to buy another car I wanted (another Ford) and I moved it for ......$65K!!! It was a bargain.

Still don't regret it, as my passion has never been motivated by money. I'm glad the classics have dropped in $$$, means we can all enjoy more of em!

cheers,
Dave.

big_landau · 20-01-2011, 05:57 PM

now that were over the great muscle car swindle things have settled down alot.i have many classic because i love them and have owned them for many years,sure i have sold plenty but i have always had a quite a few.
honestly i think its a great time to buy and maybe its going to get better for buyers im not sure but if you want a nice classic there are some pretty good buys out there at the moment.

JimNiki · 20-01-2011, 06:05 PM

People are predicting another full 1% rate rise this year...
I'd be buying towards the end of the year ...

As far as car prices go, if one person tells you it's a donkey, tell him to shove off, if 10 people tell you it's a donkey, you better go buy a saddle...

302 XC · 20-01-2011, 08:20 PM

Classic car prices ???
I sold a complete and drivable XP ute last year for 4K
Had it 2 or so years (payed less)
It was a classic ,neat little combo
Bloke drove it hours home trouble free (yep no trailer sailer there)
Maybe i shoulda held onto it ???

I find more moves outside of evilbay,carsales ect
Pumped up prices

How many times do cars get relisted on evilbay lately