B2K future prices

[Aurora40]

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[kruzmisl]

Sounds like you are trying to talk yourself out of the recent interest in getting one. Have you ever driven one? If not I would highly recommend it as it is very convincing in the decision area. I would not worry about the aero, the 90 car is in the park. Have Fun Searching.

 

[EricVonHa]

Take another step back into history to the late 60's. Chevy had the L-88 Vettes and Shelby sold every GT350 and GT500 rustang that they built. What are those cars worth today due to their limited production, raw power, collectibility and the lack of NOS parts?? Thirty times the original MRSP isn't out of the question in today's market! I guess we'll have to allow our Callaways to appreciate another decade at a minimum.

 

[*89x2*]

...here are my thoughts on the subject from an earlier thread:
http://www.corvetteactioncenter.com/forums/showthread.php?t=43462

I agree that once a car has been restored, sometimes even repainted, its value is less than a "survivor". That said, Callaways might be the exception (many were repainted during aero installation).

The majority of Callaway Corvettes were carriers of the unique RPO B2K option and that is recognized by everyone including GM, etc. The Aerobodies did not show up as an RPO however, my personal thoughts on this are ANY B2K built after car # 89-005 with an aerobody is correct. Why is this? 89-005 wore the prototype bodywork and it took a bit of time to get them (production) rolling. Many 1989 owners intended to have their B2K's leave Old Lyme wearing the bodies but it was often dificult to have body and car produced at the same run. I know some owners paid for Aerobodies and have paperwork dating back to before their cars were constructed, even though the bodies and car did not "meet" in Old Lyme, the body was paid for prior to construction.


If I see an Aerobody on an 87 or 88, I know it could not have been original but, it is a correct offering from Callaway and to me, honestly, it reduces value in NO WAY to me - I would say it adds value as it is a desireable kit

Now, What about the "Direct Conversion" cars? They are Callaway Twin Turbo Corvettes w/out the RPO B2K. Why are there cars out there w/ out the RPO? A few reasons why - A GM strike kept supply down, dealers sent cars they had, rather than wait and also, cars were brought there out of the "pool" to become TT's by owners, etc. at other times too.
Are they any "less" of a Callaway, Hardly. They have ALL of the same power and looks, minus 3 little alpha-numerics in the glove box. The nice thing is, Callaway Cars has maintained a list of ALL cars built and can verify them - I drove car #89-069, a direct conversion car. It was one of the most powerful cars I have ever sampled and was correct and wore all emblems / plaques.

Now what about originality?? The wheels should be Dymags (16" or 17" ) in 1987 or the stock 87 wheels... 17" Dymags were on 88-90's and some 91's. OZ 17" wheels were also on some 91's - check w/ Callaway Cars to see what yours should have.
Other mods, Exhaust - fine for the road but, the NCRS, etc will want the Callaway offered exhaust - either Megaphones or, the stock high flow's w/ Callaway embossed tips.

Engine mods - again, mods that were done, offered by Callaway are fine and should be doccumented otherwise judging will reflect this.
I recently found out Callaway Cars offered a ZF6 -or- Richmond 6 speed conversions for 4+3 cars, both would be correct then, with paperwork.

I have talked to a few folks about this and am always finding doccuments about "correctness".

In no way, am I saying do not modify your car, just save (tag&bag) your original parts if you do Hope this helps

I want to add that while some car models may make more power, that in itself does not mean it will be a "more desireable model" over time - I think a car like the Callaway Corvette will prove to be on par w/ legends such as L88's in the long run

 

[EricVonHa]

Barrett-Jackson, Bloomington, NCRS, etc...

Non of the tuner cars (Lingenfelter, Rippie, etc) will ever have the distinctions that the Callaway cars are achieving. Nor will the Mercedes Benz, Z06's, or '03 rustang Cobras.... Low production is a key factor for any collectible high $$$ cars... and though they may have the power output-- they are missing the notoriety do to their high production numbers or in the case of the tuner cars, the backing from GM with an RPO.

 

[TurboLuigi]

Aurora40,

You bring up some good points and this has been a great thread. But setting these points aside, remember the guy who laid out over $700k for the 4 Callaways at Barrett-Jackson earlier this year (after already owning 1 Callaway Speedster) and whose collection was described in Celebrity Car magazine in the Spring issue. Granted the cars he bought are amongst the most powerfull Callaway has made and are all one of a kind. He mentioned on SpeedTV that "these cars will certainly appreciate over time". And given what cars he already owns, I think he knows a thing or two about the collectability of cars. You might want to get a hold of an issue of that Magazine.

Also remember that the value of cars changes as they are driven. Pure collectables are rarely driven . As cars are driven, you expect their value to decrease to account for wear and tear.

If you are looking for a car that is unique, fun, and powerfull, the B2K certainly falls in that category . The more "Callaway" features on the car and the higher the performance of the car, the more it will cost. I certainly think that over the last few years, the Callaways have hit their bottoms and have begun their climb up. From here on they will only appreciate (minus use or misuse).

It has taken GM nearly 15 years to come close to the power that Callaway provided back then though anyone who has felt one of these torque-monsters under full boost knows how much more of a thrill it is to drive over a Naturally Aspirated car.

The collector/exotic/muscle car market is large but I think these are among the very best of the American Cars which fall into that market. Given this information plus what has already been discussed you should have more than enough details to make up your mind.

Best of luck in your search and research,

Luigi
:cool

 

[*89x2*]

I think one of the few cars of recent production that even come close (in production numbers, power, flair, and value) is the GNX - while there are plenty of turbo regals and grand nationals, the GNX was for the "lucky 547" and holds its value nicely with relatively little drop in what they were sold (MSRP) new.

Callaways twin turbo holds similar production numbers with even greater power and style (plus - braking, handling, the total package )

Some of the GNX's that have miles (50-60k mi) are still advertised for the upper 20's / low 30's and the absolute cheapest GNX I have seen sell (bonafide deal) was $17k and it was clearly a driver :eek

The twin turbo Callaways have hit the bottom - that happened about a year or so after the Z06 was introduced - not sure why that had much to do with it, but...

I would buy another in a heartbeat - if only I had the room

 

[TurboLuigi]

Good point though those cars were not as sexy as the B2K's. I got $40K for one of my GNX's 2 years ago and now that car is worth close to $50K. My other GNX with 7.5K Miles is probably worth close to $40K and people are always asking to buy it.

I think people need to make a clear distiction between collectibles and drivers. I like to drive my cars, its just too much fun. I make money in other ways and not with my cars. However, I hate depreciation so I buy when the cars are already depreciated. But that's me.

-Luigi
:cool

BTW, NADA shows high retail value of the GNX at $42,500, a 1991 Callaway at $43,375, while a 1987 Callaway at $33,650 (and it does not account for options on these prices). Check it at http://www.nada.com

 

[*89x2*]

I have heard the CPI (Cars of Particular Interest) has a value guide that incorporates the Callaway B2K cars into the price lists - My understanding is the bank can use this book / guide in certain cases for determining a loan value

 

[EricVonHa]

Let's also remember that future Callaway prices are determined by what is said here and on the other Corvette sites. In too many instances I have seen owners of these cars say "whoever is selling that car is asking too much". Truthfully, if the person selling the car was present on this forum then there would not be open criticism of the price. Really, what makes a price too high? Obviously if the car is missing "correct" pieces, lousy paint or has mechanical issues, etc. then it may have a "lower" value. However, if you don't go see the car for yourself-- you really never know. Most cars that I have looked at from Ebay have been 80% reality and 20% fiction. There is a sucker born every second and I would like to think that this forum is advantageous to those that wish to gain an education on the value of the B2k option.

What sets the value for the Callaway market? The current owners who may sell their cars! Who else? Everyone that participates in this forum. I have never seen a better resource anywhere that can offer as much information as this forum!... and most of it is free. Any owner that sells one of these cars helps to establish a guideline value. How so? If there are less than 350 of these cars left in the world and only a few change hands per year-- it's pretty easy to see how the value is perceived and established. In a perfect scenario-- if six '90 Aerobody cars sold in one year and they all sold for $50,000ea. What's the guideline value? Obviously cars of the exact same specification, model year or options will not be sold in one year but you can see where I'm going with this. Why is this forum so important for the value of the cars? Go ahead and start a topic in this section and look at the number of "Views" after a 24 hour period has passed. Surprised? You bet! There are a ton of people that read here that don't participate or rarely participate-- but yet they are becoming or have become very knowledgeable about the Callaway Cars. So, as participants of this forum and owners of these cars- it's important that we don't criticize the asking price for any Callaway car that is for sale-- whether the person posts here or not. The way I see it is that we're here to share information and offer advice. Maybe it's a great price, maybe the price is reaching for the stars-- whatever it is-- the seller is asking their price for a reason-- and one of those reasons is that these cars are highly collectible at this point.

It also comes down to what a person is willing to pay for a car. Every car has to have a buyer. A perceived value by one person may not be the perceived value by another person. If you haven't driven a turbocharged Chevy small block powered car-- you don't know what you're missing! That rush is worth a million bucks in my mind!

 

[HuggerC8]

Well nicely said EricVonHa, you hit it right on the direct point when you mentioned that it's owners who dictate the future value of Callaways.


Johnny

 

[TurboLuigi]

Eric,

Very well put. However, one last thing that has not been mentioned is motivation. I know of people that have had to sell collector cars due to a change in finances where they need to rapidly cash out and thus purposely lower the price to move the vehicle and reduce the haggling that might go on or due to a death in the family or to disability. Face it, the economy is far from where it was 4 years ago and lately I have seen quite a few deals around.

As Eric mentioned, the market is made up of supply and demand. The reality is that there is a very limited supply of these cars. In part what keeps the price of the imported exotics (Ferrari, Lambo, etc) is the high cost of importing parts or the cars themselves. You can go to Italy and pay much less for a Ferrari than you do here. Conversely, I know of people in Europe who own Corvettes and have to deal with the exorbitant prices for parts and maintenance of their cars there.

I think enough has been said about this for you to make an educated decision.

Best Wishes,

Luigi
:cool

 

[*89x2*]

Aurora - while at the bookstore yesterday, I found a "pocket guide" to Corvette values and their data showed that the B2K option could add as much as $17k - $20k to the Corvettes value, depending upon the year :eek

The AeroBody added $5k-$8k, in their opinion to a B2K

The data also said at a bare minimum, $7,500 should be added to an 87 on the "low end of the condition scale", over and above the price of the Corvette's value - Hope this helps