Camaro value drop

[Salvatore]

We could not wait for Barrett-Jackson and the Mecum Auctions to come on, especially BJ at the beginning of the year. To many and to much out there the last couple years so I rarely tune in anymore. Does not seem to be the real pulse of the hobby in my opinion. We have 4 sons and not really any have a big interest in my cars. They come to the car shows I am in on occasion but that is about it. Our grandkids actually like the shows, cars and food more than our own kids do. Maybe the real high end resto's or high end cars bring good money still but the #2's and #3's seem to be leveling off. I do not have much interest in trailer queens either. They are just "lawn ornaments" to me.

[EZ Nova]

Originally Posted by BARRY

lets jump 10 years what will a 1969 z28 worth 40, tops the market will change as we get older .... my kids don:t want these cars. and with electric cars coming in...

I have been saying the market is softening for a couple years now. I recall about 2 yrs ago here, guys were getting upset there '69 Z28 were not bringing the high numbers. I think the one guy wanted mid $80's and was only in the 60's at an auction.

It's simple supply and demand. Supply is holding stead or increasing in anything but 100 point cars. BUT demand is going down. That why you hear of the "collections" being sold off by the guys that don't really look closely at the prices. Guys like Pratt. If he wanted it he would just bid to he was uncomfortable where it goes. Once guys like him and other big name/dollar guys start dumping and not re-stalking there collections, the prices and demand starts to shrink.

I to want to do this as a bit of an investment too. But all but maybe 3/4 cars would have to be bought by me head, not may hart. I would pay what I would consider OVER market for the just right '67 427 Vette or '68 GTX. NOT AT THIS TIME THOUGH. The Vette will be a tribute to my father who passed in 2018. The '68 GTX was my FIRST car when I turned 16. So it holds a spot in my hart.

[Charley Lillard]

Auctions are auctions and prices are all over the board. Sometimes at auctions you can get a great deal simply because you were the only one there wanting that particular car. If no reserve you probably got it really cheap.Not what I would call a indicator of actual value. I recently paid the most money I think I have ever paid fora 69 Z28 and I have owned more than most. To me the middle of the road stuff seems to have fallen a bit and that means more people can buy and enjoy them.

[rlw68]

Originally Posted by ALLZS

The first gen camaros are sure taking a drop in value in the last year ?? Wonder way

I'd be good with the value of some original first gen parts returning to earth These appear to be holding on still.

[William]

I believe the auction world has tired of the date-code correct matching numbers BS and resultant fraud that muscle cars bring. The Jerry Seinfeld Porsche mess is a great example. One fraudulent car is now tied up in lawsuits involving three current and previous owners, a classic car dealership and two auction companies. Imagine the legal bills.

The event program for each B-J auction has an editorial "View From the Block" written by Craig Jackson. Here are a few excerpts:

Scottsdale 2019

Now, when you consider the first baby boomers are hitting retirement age we’re seeing another generational shift. The Gen Xers and millennials are gravitating to the cars from the ‘80s and ‘90s with Japanese imports drawing increasing attention. This was very much in evidence at our 2018 Las Vegas Auction where we saw two Toyota pickups from the 1980s and a 1997 Acura Integra Type R set new world records at auction. The Acura in particular caused a stir in the automotive world with the story of its $63,800 sale spreading like wildfire on the internet and social media; our Facebook post about the sale reached nearly 2 million people.

Will Barrett-Jackson still sell prewar classics and muscle cars? Of course - but perhaps just not as many as in years past. I’ve always said that Barrett-Jackson needs to embrace change as the collector car demographic evolves. As a result, you’ll likely see an even wider, more eclectic selection of vehicles cross our auction block in the coming years.

Palm Beach 2019

The collector car market is unquestionably transforming, and we’re embracing it with open arms. It was great seeing people buy vehicles they actually want to go out and have fun with – Broncos, Jeeps, pickup trucks and Blazers. In fact, 10 of the 28 world-record sales we saw at the Scottsdale Auction fell into that category. We had record sales occur on every single day of the auction – another first for Barrett-Jackson.

The generational change in the market was more evident than ever before – everybody noticed it, and our statistics back it up. On top of strong performances in other sectors, the cars that were cool when the Gen Xers and millennials were kids have come on strong, and we are thoroughly welcoming that new dynamic. Those younger generations are purchasing nearly twice as many vehicles as they were five years ago, and the average year of the cars they’re buying has shifted from 1968 back then to 1978 now.

We’ve been very conscious of the changes in the collector car world all along, and continue to build our dockets to meet the shifting demand of younger buyers. Of course, one major trend we’ve been predicting would come to the forefront since they first appeared on our auction block some 10 years ago is Resto-Mods. Over the past two years, there has been a steady increase in not only the quantity of customs/Resto-Mods we’ve sold, but also a boost in value. A total of 161 custom vehicles were on our 2019 Scottsdale docket – an increase of over 87 percent from the 2017 docket – and the average sale price is up by nearly 28 percent. Seeing that distinct generational change take hold was just one of many highlights of the 2019 Scottsdale Auction. I am so grateful for the overwhelming support we received this year.

We were honored to welcome Toyota as a new automotive partner this year, and were thrilled that both they and Ford Motor Company chose to unveil brand-new vehicles at the Scottsdale Auction as they were simultaneously being unveiled at the renowned Detroit Auto Show.

[Tracker1]

Hagerty ...hahaha. This was their picture/headline this AM (group is a typo). Since when is a Lucerne Blue 1970 T/A a "ground floor" car? The prices have peaked on T/As (except Bandit editions, I believe there is still a little more growth happening there) - they ain't getting more expensive. LOL

[A12pilot]

There is something to be said for the “generational” buyers. I’m 46, and despite the hair, have a ways to go before I retire. Lately, I’m seeing myself gravitate towards the cars when I was a kid. You know, the ones I bought models of to build and dream about owning one day? Cars like the 1982 Mustang GT, IROC Z Camaro, Ferrari Testarossa and 348 Spiders, Ferrari 328s, 90s ZR1s, etc. I’m thinking of pulling the trigger on a very nice 348 shortly. Do I now shun off the old muscle? Of course not! But cars are fun, and they’re supposed to be FUN, and despite the “investment” potential of some, most are just buying cars because they are what they wanted as a kid and not as a monetary return later on. Although knowing something won’t tank and hopefully would gain a little value over the long haul is comfortating. I was looking at Testarossas about 15 yrs ago and they were in the 40s. Not today.

For me, I don’t know jack about the foreign jobbies. But after researching Ferraris, I’m educated enough to make a decision. I think the blue chip cars will always command money; Hemi, L89, COPO, 6-Pack, etc. It’s the others that will take the tumble the most as the generations coming up want what they could not get as a kid and for my group, it’s the mid-late 80s and early 90s cars, despite their anemic performace.

But after all, for the price of one V-Code Cuda, I could have about 4 or 5 “fun” cars I wanted as a kid. Hmm....now that I think about it, why the heck don’t I have those???

Cheers
Dave

[R68GTO]

I feel like I should be apologizing to all you 1st Gen guys as this drop in value is probably my fault. Initiating a full-blown resto on my car is surely guaranteed to result in dropping values......just like washing your car is the quickest way to get some rain

[HuggerSS]

The the rare/number matching cars will always hold there value. Most of these cars do not ever make it to auctions because there is a line of people that want to buy them. That is why I think the price guides are off.

A lot of the cars in actions are pigs with lipstick

[67since67]

Originally Posted by A12pilot

There is something to be said for the “generational” buyers. I’m 46, and despite the hair, have a ways to go before I retire. Lately, I’m seeing myself gravitate towards the cars when I was a kid. You know, the ones I bought models of to build and dream about owning one day? Cars like the 1982 Mustang GT, IROC Z Camaro, Ferrari Testarossa and 348 Spiders, Ferrari 328s, 90s ZR1s, etc. I’m thinking of pulling the trigger on a very nice 348 shortly. Do I now shun off the old muscle? Of course not! But cars are fun, and they’re supposed to be FUN, and despite the “investment” potential of some, most are just buying cars because they are what they wanted as a kid and not as a monetary return later on. Although knowing something won’t tank and hopefully would gain a little value over the long haul is comfortating. I was looking at Testarossas about 15 yrs ago and they were in the 40s. Not today.

For me, I don’t know jack about the foreign jobbies. But after researching Ferraris, I’m educated enough to make a decision. I think the blue chip cars will always command money; Hemi, L89, COPO, 6-Pack, etc. It’s the others that will take the tumble the most as the generations coming up want what they could not get as a kid and for my group, it’s the mid-late 80s and early 90s cars, despite their anemic performace.

But after all, for the price of one V-Code Cuda, I could have about 4 or 5 “fun” cars I wanted as a kid. Hmm....now that I think about it, why the heck don’t I have those???

Cheers
Dave

I have a friend in the UK who buys nice low mile Ferraris at the bottom of the market cycle, enjoys them for a while, and sells them, some times double or more than he paid. Right now he has two black 456s.

A guy near me has a stash of more than 30 low mile unmolested Firebird Formulas and T/As from the early 90s, along with a couple IROC Zs. He's anticipating a market upswing.