1959 Eldorado Seville - Memories

[veesixteen]

Going through some old correspondence (no eMails back then - 1975/76) and found this 1959 Cadillac Eldorado Seville for sale in Texas for under $3K. And to think I HESITATED!

The vendor at the time was hesitant to sell it; he said fewer than 2000 Eldorado models were built in 1959 (right enough;
of his coupe, only 975 were built!

I wonder what lucky guy/gal has the car today. I'm thinking it's probably some lucky Swede.

[Eric DeVirgilis CLC# 8621]

Even back in '75, $3K was probably over market value for the car. That same year a friend bought an all original '59 S62 Convertible for $800 which he still owns to this day - and from what I can see, it's in at least as good or condition as this Seville.

In 1987, a local Cadillac dealer sold a '59 EBZ - white/black/white for $3,000 needing mechanical freshening but no major restoration.

[James Landi]

$3,000 is nearly equivalent to $14,000 in today's dollars...although the text of the letter certainly indicates that the '59 was a good hedge against inflation.  Happy day,  James

[The Tassie Devil(le)]

I can think of many times I have missed out on good deals that I should have completed at the time, but money was always a problem.   And still is.

Bruce.

[veesixteen]

I can think of many times I have missed out on good deals that I should have completed at the time, but money was always a problem.   And still is.

Bruce.

I hear you, Bruce!

[Bill Young]

We all feel the pain of missed opportunities however I take heart in that I made the best decision at the time with all I knew to work with. I well remember talking to my Father in 1974 about a white on white with black and white interior 1957 Eldorado Biarritz factory air car fully restored for $1,800.00 that all needed be done was re attach the rechromed bumpers. I wanted to go in on it with him , he said no , no one would see one of those as an investment.

[Scot Minesinger]

Yes, antique cars purchased 40 years ago are certainly worth more now.  However, consider the cost of maintaining them over that 40 year period, that started when we generally worked a demanding career, raising a family, life and the like.  It is not like present day when we generally have a little more time (average age of forum authors is pushing 60 years old). 

Storage for 40 years, that is some money
Driving it 500 to 1,000 miles per year, that takes time, and probably would have been enjoyable
Repairs and maintenance, oil changes, tires, fluids and etc.
Insurance

The cost for owning an antique car not used as primary source of transportation has got to be past 3k per year, and that is 120k! (over 40 years)

That is why your Dad said no to the 57 Cadillac.  Again, we can rarly ever justify owning these classics financially, they are a fun hobby, and those often cost money.  Very few people earn money owning a classic car.  I don't even consider looking at the receipts and adding them up for my hobby cars unless I need to get depressed about finances.

[Eric DeVirgilis CLC# 8621]

$3,000 invested in the S&P 500 in 1975 would be worth over $200,000 today.