Will values go up when C6 arrives?

[Big Tex]

Seems like every time Chevy brings out a "new" Vette, the prices of older ones go up. Not totally sure why that is. I am guessing that the '82 will go up accordingly since it was the last year of the C3? I better jump on one pretty quick if that is the case.

Any opinions?

 

[Eric]

If tradition holds true then you are correct. One catch to all of this is that the most recent generation usually takes a hit. When the C4 came out C3's took a hit, just as C4's did when the C5 came out. That said, the C5 will probably take a hit if they haven't already.

 

[Stallion]

I would have to agree with Eric. Everything but the C5 will go up, I'm sure. I can't imagine a C2 getting any steeper in price, though.

 

[Glensgages]

I for one, DON'T think older Corvettes will go-up in value this year based on the C6's introduction.
A nice C3 (or other Corvette) will appreciate in value next year as it would, or wouldn't, have REGARDLESS of the NEW Corvette, just as a 'well-used' Corvette will maintain, or lose, value.

The 'new' Corvette is marketed towards people who 'can' spend well-over $50,000 for a 'part-time play-thing', which has little-to-no bearing on the majority of C3s, most of which are $10,000-$25,000 cars.

The exception would be the C6-buyer, new to the 'Corvette-lifestyle', who decides he wants to own several Corvettes of varying generations.
In this case (since he probably could 'afford' it), he'd buy an rarer, older, numbers-matching Vette in perfect, or restored condition; THESE cars 'might' fetch a higher price, due to this.

I are a high-school granulate, and I figgered this out on my own, but before posting my thoughts, I ran my thoughts past a friend, who has 20+ years of owning, restoring, judging, and appraising Corvettes (as well as foreign exotic cars & motorcycles, but Corvettes are his specialty), and he confirmed my suspicions:
The C6 will have next-to-no effect on earlier Corvette values.

Sorry.....

 

[Big Tex]

No need to say Sorry... That makes me happy since I am in the market for a C3 right now. Hell, I'd love it if the C6 made the C3 go DOWN in price.

 

[Stallion]

They won't go down in price. They are only gaining money.

 

[gooney0]

UP and down.

I noticed over the last few years prices for classic Corvettes is anything but steady. This is by no mean scientific... and is based on the value of a 72 coupe

1998 $8,800 for mine. A great deal at the time. $10-$15 for most. $25 for a show car

2000 $15-20 $30 for a show car (Height of the dot-com i guess)

2003 $12-20 $25 for a show car

Again, these are the numbers I saw in the D.C. area. South Florida, for example, is much cheaper. C3's are FAR more common there.


The problem is, there are very few of these cars being bought / sold on a given day the prices changes a great deal daily. Also when you look at the cars in person you will see a LOT of flaws that aren't in the pictures. IE the car's condidtion is often lower than described.

Alot of these cars are now one of a kind too. Its pretty hard to compare apples to apples when shopping. For that matter its hard to find 2 of the same year to compare!

I guess the Corvette market is a little like the housing market....

-Gööney0

 

[Glensgages]

Then won't go down in price. They are only gaining money.

I assume you mean " 'they' won't go down in price."
?
If so, you are correct; they won't go down in price, and they will appreciate in value...
but my friend, the 'appraiser', says 'whatever' increase in value older Corvettes gain this year will have very little to do with the C6's introduction.
According to him, ANY market deviation this year will be business-related; NOT based on C6-sales.
In-fact, he fears a terrorist-attack this year, to effect the '04 U.S. elections, would even DE-value the sales, and prices, of the C6-models...
:eek

 

[paintdaddy]

Although Im not a professional appraiser ,I keep a close eye on values of all collector cars and heres what Ive seen.When the c6 comes out there will be little to no change in value in all generations.About a year or so after c6 intro c5s will drop like a rock and c4s will gradually climb and c3s will skyrocket.One good thing c3 has going for it is the c3 styling ques in the c6.

 

[Stallion]

Yes, I did mean "They". I corrected it. Hmmm...I didn't think that the C6 would affect anything but the C5. I can't really imagine it affecting something all the way down the line, say a C1.

"In-fact, he fears a terrorist-attack this year, to effect the '04 U.S. elections, would even DE-value the sales, and prices, of the C6-models..."

But I don't understand this. When there is "bad" stuff going on (war, etc.), doesn't the economy ironically flourish? I don't understand...

 

[LittleRedFlatBack]

I don't think all C4's will rise in value that much (for now) because there were so many of them built. Probably the specialty C4's (I.E.- ZR's, Anniversery,etc.) will appreciate in value but until the number of available C4's starts dropping, we probably won't see much change. I hope I'm wrong. I sure would like for my C4 to go up in value. Just my .02.

 

[Eric]

The 'new' Corvette is marketed towards people who 'can' spend well-over $50,000 for a 'part-time play-thing', which has little-to-no bearing on the majority of C3s, most of which are $10,000-$25,000 cars.

You're right in that C5/6 buyers generally are not the same guys buying C3's, especially the lower prices ones. The effect a new model has is that the older ones become that much more nostalgic, thus bringing a few more buyers into the market. JMHO -Eric

 

[Glensgages]

But I don't understand this. When there is "bad" stuff going on (war, etc.), doesn't the economy ironically flourish? I don't understand...

I believe my buddy, the appraiser, is NOT concerned about 'the war';
I think his concerns are about another '9/11-style' attack, which many believe fueled the reccession of '00-'03.
If/when consumer-confidence goes down, the Corvette is NOT immune to the consequences...

 

[Stallion]

I believe my buddy, the appraiser, is NOT concerned about 'the war';
I think his concerns are about another '9/11-style' attack, which many believe fueled the reccession of '00-'03.
If/when consumer-confidence goes down, the Corvette is NOT immune to the consequences...

Oh, I see what you mean. But, I did hear once that with war, economy flourishes. Wouldn't that fall under once of thoe consumer-confidence-dropper events? Why would that help economy? Wouldn't the same effect have, you would think?

 

[Glensgages]

Oh, I see what you mean. But, I did hear once that with war, economy flourishes. Wouldn't that fall under once of those consumer-confidence-dropper events? Why would that help economy? Wouldn't the same effect have, you would think?

Short-term, a war sems to 'jump-start' the economy; the population is up-beat, patriotic, anxious to go home & watch our guys & gals kick azz on TV.

But as time goes on, and our troops are deployed longer than originally expected, and casualties mount, anxiety sets-in, fears escalate, protests mount...
Not only that, but the war diminshes the U.S. economy from producing at the level it can (i.e.: producing 'guns' instead of both 'guns AND butter').
Soon, the goverment raises taxes to finance the war (another factor in 'CONSUMER CONFIDENCE...), taking even MORE $$$ out of circulation for things like two-seat hot-rods...

By comparison, another terrorist attack provides NOTHING good for the American people, OR it's economy (consider the 'stagnation' from late '01 into early '03).

In closing:
WAR = short-term 'boost' for the economy, followed by slow-but-sure down-turn.
TERRORIST ATTACK = instant crapper...

This concludes today's class;
I expect your homework done by tomorrow's class, when we'll discuss why the C6 looks too-much like a Viper...

 

[Stallion]

Ahhh I see.

"...when we'll discuss why the C6 looks too-much like a Viper..."

HAHAHA And yet, it is true.

 

[photovette]

My C3 has all the value it needs right now--if it were worth more I'd feel bad about driving it all the time!

In the past, I have always had a dislike for the C4. This came from when they first came out in 1984. I owned a C3 at the time, and for several years, C4 owners were pure sh_t to be around. Now, just about all C4's are owned by descent law unabiding Corvette fans--heck, I even broke down and test drove one the other day--I loved it! Let's hope the C6'ers don't treat the C5 people with scorn--C5'ers have been a pretty good lot!

Okay, I improved the C6 so it doesn't look like a Viper anymore:

 

[ChuckG]

The C5 prices around here are already falling like a stone. I've been told that dealers are "deep discounting" new 2004 C5's because nobody wants to buy them with the C6 coming out in about 6 months.

I've owned two C4's, an 88 and 92 coupe. Both were nice cars. Their prices seem to be falling too, unless you have an original low mileage 84-86 vintage model. ZR-1 prices hit the dump not long after the initial "hype" in 1990. I remember guys buying them for 20K OVER sticker. Today, you can buy a nice VERY low mileage ZR-1 in the mid 20's. Chuck

 

[Glensgages]

Okay, I improved the C6 so it doesn't look like a Viper anymore:

[/QUOTE]I still say:
"You got a Hemi in that?"