Current classic 'book' values?

[TJ Hopland]

Anyone subscribe to any of the popular car value books and watching what the general values are doing?   Just curious if they reflect the general lower values we have been seeing the last few years.   Watching some of the BJ auctions on tv it looks like even their stuff has dropped.  A few years ago everything seemed to sell for crazy numbers but now much of the 'average' stuff seems to be selling for almost reasonable prices. 

[Eric S. Maypother #15104]

I know in my state of Massachusetts every year the RMV raises the book value of older cars.

I registered 4 1990 Cadillac Brougham's about a year apart from each other and every time the book value is more as the car gets older so I have to pay more sales tax.

[Mike Josephic CLC #3877]

As with most collectibles, the top quality items always sell -- that is if they are priced
with a realistic value.  I don't see much of a decline in value for those.  However, the
values for some of those niche items that were highly inflated, almost "fad pricing" are
another story.  A good example are the 60's & 70's muscle cars whose values have
tanked -- since they were bid up to far above realistic value.  Talking about Hemi Cudas,
Boss Mustangs, SS 396 Chevelle's, Shelby Mustangs, etc. that were selling for up to $200K!

Same situation with 1959 Cadillacs -- prices are coming back to earth.

Go and sell a 100 point '53 Eldorado at auction (for example) and you'll get still get top
Dollar all day long.  Same with the V-16's and other rare, quality cars.

Just my $.02 worth of opinion.

Mike

[Jim Beard]

The value of cars were riding the bubble just like the values of homes and stocks were. A friend of mine buys and sells cars at the mecum auctions all the time and he lost his investments in the cars over the past couple of years just like everyone else. I heard many stories of cars that went over the block that were 100 point restored or over the top customs that were only getting half of what was invested in them. The owners could not afford to wait until the market came back to make a profit so they took a huge loss. He doesnt do as much as he used to at mecum but he said the market is stabilizing somewhat and will probably be doing more this spring as long as the market stays steady.

[Caddy Wizard]

I don't read value guide books, but I watch a lot of sales and a few auctions.  I sold my 49 6107 fastback at Hershey last fall (09) and got a very strong price, especially considering the economy was so bad.


My take on it is similar to the comments of others -- highly desirable cars in top condition are still bringing a good price.  But lesser cars are taking a beating.  Broadly speaking, 4 door sedans, of which I am a fan, have dropped sharply in value.  Convertibles and rare coupes still command good money, perhaps not quite as much as a few years ago, but still good prices.  Half-done project cars can be had at very reasonable prices these days.  Half-done rodded or customized cars are cheap too, but most are ill-conceived in the first place and great care should be taken spending money on such.


For me, it means that nicer sedans are within my reach these days.

[TJ Hopland]

In the last 10 or so years I have noticed a lot more nice sedans on the roads and at shows.   20 years ago I hardly saw them but I suspect it was a value thing, the 2 doors and converts just got too expensive (and rare) for the average Joe to afford but he found you could get a un abused 4 door from the era he was interested in for a very reasonable price so that is what he did.