ROG100

Values are going through the roof so buy now and do not sit and watch.
I currently have at least a dozen new customers that have bought 928's and are pumping $50k plus in parts into them without flinching at all.
And they ALL had never heard of Rennlist until I told them.
I can't buy parts quick enough to cover the demand.

Snooze you loose!!!

It is fantastic to watch our cars get the credit they truly deserve.

Vilhuer

Mitsubishi 3000 GT VR4 Spyder.

I think current Ferrari etc price increase is way too fast to be healthy. Some kind of correction is imminent within next few years. Doesn't mean prices will come back to level they were 2-3 years ago but some correction can be expected.

hacker-pschorr

Mileage means everything and always will.

Take two identical cars, one having 25k miles the other has 125k miles, to even suggest they are worth even close to the same value is way off the mark.

With the Corvette world this is especially true, for all years. A friend of mine paid more than double market value for a 1994, because it was a one owner with 900 miles on the clock. He sold it for a profit a few years later with 1,100 miles on it. That is a mid $20k car while most '94's are well under 10 grand.
A '69? Roll one out on the block with 15k miles on it (like the same guy owns) and compare it to one with 75k miles. The selling price different will be significant.
However....this is always a difficult comparison since values in Corvettes can be greatly swayed by some very odd options. I remember seeing a pair of identical '63 convertibles go across the block with a huge prices difference. Why? One had headrests, which is a very rare option....so that commanded more money.

The Ferrari's are a bad example since most have stupid low mileage. I talked to a gentlemen who recently purchased a Dino and he made a comment the incredible "deal" he got due to it having over 30k miles.

911 Turbo with over 100k miles? How much do you think an identical car would be worth with less than 50k miles?


All that being said, then you have the "survivor" category that is gaining popularity and value in the collector car world. It's just a numbers game. So many cars have been restored and over restored, finding a running, driving, all original car has been the rarity. They are cars you can buy, enjoy, and maybe someday do a full restoration but they are only original "once" and that is meaning $$$$ on the auction block.
One catch with survivor's, they must be 100% original. Install side-pipes on a 63 Corvette? Nope, will not be awarded as a "survivor".

Don't belive me? Read through this thread:

http://www.corvetteforum.com/forums/...crs-shows.html

"Replacement radiator, belts, hoses, hose clamps. Hood latches are way too shiny for 46 years old. Underside of hood is glossy."
"If an original water pump was removed, repainted and reinstalled, it fails. Nothing should ever be done to a Bowtie candidate but carefully clean and preserve it."
"The thermostat cover on the F.I. baseplate may not be original, judging from the angle of the nozzle. It possibly had to be replaced to accommodate the non-stock radiator hose. Battery is not a Delco tar-top. Hex-head bolt on master cylinder cap IS correct for late-'63 power brake car (thumbscrew interfered with hood). Should also be a bleeder connection on the inboard side of the master cylinder for P/B car--might be there, but can't make it out in the photo. Fuel line connection to the fuel filter inlet should be chrome on a F.I. car--looks like brass/bronze in photo"

Seam silly? To most in the 928 world absolutely, but in the Corvette world this means everything when it goes across the auction block. I've been present for inspections like this and the stuff they pick out is staggering and would make your head spin.

Bottom line tough, few of us own a 928 that even comes close to this kind of scrutiny so we shouldn't care.
However, as a few more 928's are dug out of collections and sold for big money, that will only help bring up the value for all of us.
Look at Rob Edwards and the work he's going through keeping the matching engine in his GTS. If and when 928's get their day that will mean everything.

Kermit, that blue car James has, the white OB Mark had, Chuck Z's former GTS etc..... these cars exist and as they change hands for well above "average" market value it can and should help elevate the overall market. That is hard to predict though. You can still get a deal on a 69 Corvette with the ultra rare ones selling for six figures.

Here is a numbers matching small block for less than $20k:
http://www.hemmings.com/classifieds/...e/1750005.html

Or an L88 that's not even the original color for over half a million:
http://www.hemmings.com/classifieds/...e/1774900.html

Another nice car for around $20k with close to 100k miles on the clock. Same car with under 40k would be selling for over $30k:
http://www.hemmings.com/classifieds/...e/1762901.html


I was recently talking to a friend of mine that owns a Corvette restoration shop about picking up a '69 since prices haven't seamed to "take off" versus the mid-years. He said they've pretty much peaked unless for some reason the market really takes off overall (save that inflation talk for off topic). He said: "You need to remember, they made almost 40,000 cars in 1969.....they are not exactly rare"

That's a good point when you remember overall production of 928's is close to 60k.

One of the worst Corvette's ever made, the 1968 model, they still produced almost 30k cars.

VehiGAZ

Thanks for the perspective! Especially true that rare options in a Corvette are going to drive the price as it is these that separate any card from "the other 20,000" of them. I feel that way about LSD on any P-car...

So what do you think is going to happen to the market value of a 47.6k mile '89 GT in the next year? I am absolutely going to sell mine (my cup runneth over), but I am getting the very distinct feeling that I will see a lot more money for it next May than this October - far more than the cost of 8 months of warm, dry storage. And well worth the price of a "concours" clean-up and detail.

VehiGAZ

The kids LOVED the WRX STi and Mitsu Evolution too. I wonder if originality or period-correct modding will ultimately be more coveted in that realm...

Madturk

So true. I think you misunderstood me. Sure, two identical 911t one with half the mileage will be much more expensive but the one with double the miles is still 4 times what it was worth some few years ago.
Now, if we talk about cars like 69 camaro, Shelby mustangs etc mileage really means nothing if it was restored or frankensteined nicely. Same will go for our cars in the future. The ones that are all original low mile cars will fetch big money. The nice frankensteined cars will also fetch big money.
I had a chance to buy a 89 speedster back in 2001 for $45k. I past on it as the seller seemEd dishonest at the time and bought a almost new e46 M3. I'm still kicking myself now. I sold a 930 for $48k that was nice. Now that car should be worth well over $100k.
Today, my advice is buy the BMW m coupe, buy the 928, buy the Ferrari 348. All these cars will be worth much more money in the future. Between now and than drive it and have fun.

pluckedchicken

Schmitt is asking top dollar, but may not be too off the mark. last May an '89 S4 when for $54K at a Mecum Auction

there is no denying prices are going up

Vilhuer

Originality always unless tuning was done during period by reputable company of which there are only one or few for each model. In 928's case thats Strosek, maybe König and Gemballa.

hacker-pschorr

I honestly have no idea where you are going here with regards to 928 values. There are so many factors involved with the value of these cars, such a blanket statement is far from true.

Yes certain cars will always be worth a lot of money, regardless of mileage. But all other factors being equal, lower original miles will always be worth more money.

Funny you mention the 69 Camaro. It's one of the cars where the number of well restored cars has gotten so common, people are losing money on them post restoration.
They made over 240,000 Camaros in 1969.

Now the Yenko, COPO etc.... yes, they are and always will be worth a fortune by comparison. Those production numbers a so small, that's the reason for the high value regardless of other factors.

Again, way too many factors. Yes we have seen on the TV auctions some really nice "resto-mods" selling for similar values as all original cars. Time will tell if these hold long term.

If you are referring to cars like Singer and Magnus Walker 911's, those are the exception to the rule as well and their value long term is highly questionable and you need to ask your self, why are these worth so much money? They fill a need for a bare-bones yet perfectly built sports-car on the 911 chassis.

I cannot think of an equivalent scenario with the 928. I don't see similar cars (Ferrari 550 for example) undergoing value hikes with modified versions.

If a company like Singer or Walker produced a stripped down, "sportscar" version of the 928 and tried to sell it for $200,000....I'm skeptical it would be a sales success.

Also, the extreme low volume of such cars is hardly a data point for the rest of the market of modified 911's.

A friend of mine has a well known PCA 911 track car that has some unique features as a gray market late 70's car. He's pondering doing a full restoration and selling it since that will greatly increase the value.

safulop

It's funny, I actually bought my 928 back in 2010, in part because I couldn't afford the Mitsubishi. They were around $25K here, back then.

928 DesMoines

That is interesting. For me, I was smitten with the 3000gt back in the 90s/early 2000s. But is it me or has the car somehow lost it's "timeless" look? I saw one just the other day (not the spyder) and my first thought was that it looked "outdated" or just "not stylish" like it used to. It looked like it was stuck in the 90s. Just my perception I think. Some cars just don't age well. Maybe the association with the Dodge Stealth or something.... but nah, I would pass on it now. Just my opinion.

Now, a 93 - 97 Toyota Supra? That is a timeless classic like the Porsche. Of course, they are going up in price too....

safulop

Oh I'm with you, the 3000 GT is so dead 90s styling, and it does bring up the Dodge Stealth twin. But I was dumbfounded that those things were $10K more than some really nice 928 S4s around here. It's the usual "rice rocket" crap.

Vilhuer

Mitsu Spyder is different that rest of the range simply by production numbers. They are very rare by modern day production car standards.

VehiGAZ

That's a good candidate! Wait for the next economic slump and grab one then.

Sometimes it can be worth the cost of holding a car long-term. The guy I bought my Cayman from has a '73 911 RS that he bought in '74... for $7500.

Tampa 928s

Every time I see a thread involving prices I am wondering when is it time to sell my 85 Euro auto. I now have 3 928's and the Euro just sits in the garage and don't want it to end up like my 68 vett and having to start all over replacing parts due to non usage. It's like the stock market when do you buy and when do you sell, seems like I should wait a little and see how the values rise. On the other hand looking at the world economy maybe now is the time. Value is only what someone is willing to pay for a well sorted highly maintained 928. Everyone I have helped in maintaining/ rebuilding after buying a low mileage seems to be 5K in parts to bring it to the daily driver statis. Most owners don't have the expertise or the want to do the work themselves leaving them with a huge after purchase costs that were never anticipated. It is no surprise that by the time these cars are purchased after several owners in lack of maintenance you're basically starting from the beginning. So my 85 Euro has over 100 hours in labor along with thousands in parts so what is it worth, not sure. For the novice when I throw some numbers out they are completely surprised saying I thought it was worth a lot more than that. I am on the fence about selling this but if the right price came along it's gone Bird in the hand type a thing. Wondering if anybody else is in the same boat as I am.