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Investment Vettes

Gersh

Well-known member
Joined
Apr 1, 2005
Messages
218
Location
Kentucky
Corvette
"06 Z06, Kawasaki ZZR, "66 supercharged Chev 489
The latest Corvette Quarterly had a article on the Indy 500 pace cars, often considered collectibles. One described in detail was the 1978 Corvette pace car, which was made availbe to the public as a replica, similar to the 2007 pace car, though in greater numbers.

They said that at that time people paid up to $50 or 100K for a replica that was MSRP at $13 or 14K (the base Corvette that year had MSRP under $10K). Recently there have been a couple low mileage replica pace cars selling for more than $40K, but most high mileage cars are closer to $20K (all these factoids are from that same article).

Now considering inflation, the $14K cars could be worth $75K today, but they aren't. And people who paid $50K for them in 1978 would have to get something like $250K today to break even!

First off, the "pace cars" are not really--they are pace car replicas.
Second, they probably are not a great investment. The way to make money off them might be to buy at MDRP and turn around immediately and sell for a few thousand profit, during the initial frenzy, but not hold them long-term.

This same logic applies to most Corvettes, which some people seem to want to buy as long-term investments. It doesn't make good sense, because the expected profits will be eaten up by inflation. If you have to fib to your wife and convince her the car is an "investment", at least admit to yourself that it isn't--buy the car for its own value, to drive and enjoy.
 

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