Announcement

Collapse
No announcement yet.

Asking prices these days.

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Asking prices these days.

    I’m really befuddled by some of the prices I’ve seen being asked lately, and I wonder just how many of the sellers are getting their price and who is buying the cars if they are getting sold. I’ve been around collector cars since the late 60’s and have yet to meet any Studebaker owners who spent any serious money on their car. They put a set of tires on the car, install a new battery, wash and wax it, and ask top dollar. I had a long conversation with a fellow recently who told me that his car had a recent paint job which he said was “really nice”. It had been done by Maaco and cost $800. Now this guy wasn’t in the hills of Alabama either. He was in a very expensive area of the country. My brother operates a very professional restoration shop, and when he walks out of the paint store with paint for one of the cars, he leaves the store with $1200 less than he went in with. That’s just for paint, no reducer, no catalyst, and no supplies, and he shoots PPG products.


    Many of the things done to these advertised cars are simply “maintenance” items. Changing belts and hoses, changing fluids, and doing a brake job is not restoration. They are just things that should routinely be done. The strip and paint on my ’57 Chevy hardtop was $13,000 and it was ‘showroom’ quality work. $800 for a paint job?? Many of the cars are advertised as having less than 80,000 miles on them. Does anyone ever look at things like control arm bushings to see if those claimed miles are believable?

    I’m almost on the verge of stopping my search. I’m not paying ’57 Chevy prices, or Golden Hawk prices, or even Speedster prices for my Studebaker. But should I stop looking? I called a fellow several years ago to simply tell him how nice his car was that he was asking $24,000 for. He asked me to make an offer but I wasn't about to embarrass myself or insult him. I spoke to him again about 6 months later and he had accepted $10,000 for the car. I didn't have the nerve to offer him $13,000. Go figure. The last Studebaker I owned was a ’55 President State Coupe and it had documentation for the 66,000 original miles and records by the piles. It took me 2-1/2 years to sell, ans I certainly wasn't asking any $20,000 for it. I say gave away.
    Last edited by colt45sa; 09-29-2018, 08:21 PM.

  • #2
    "a fool and his money..... sounds like another go-round of "where are Studebaker prices going"

    Comment


    • #3
      Im going to GUESS that some of these people think they can treat a car like a house flip, because thats what is sounds like. Put on a low-cost paint job, some new hubcaps, and some shiny parts on the engine and then sell for a big number. Then, they realize that the car market is not the same as the house market.

      Totally a guess, but that is what it look like from my perspective.

      Perspective: I live in Los Angeles, where the housing market is insanity.

      Comment


      • #4
        A lot of it is simply marketing. People who sell things for a living are guided by two principles: 1) Buy low, sell high. 2) Know what will attract buyers. In this case, the second is important. When the average person looks for a car, they go to dealerships and, in this age, on the internet. People who sell or flip for a living do as little as possible to make a product attractive and get the most out of it.

        I used to watch "Fast & Loud" in which a guy that owned a shop and his mechanic would get cars to spruce up and sell at a profit. I was always amazed how little work the owner Richard wanted to do to sell a car. Sometimes, they would simply clear-coat over a rusty car and call it "patina"! But, he knew how to sell stuff! Well, most of the time...

        Now, the enthusiast is at the other end of the spectrum. The enthusiast wants each and every part (insofar as he is able) to be correct, the paint to replicate the factory or better and even the things that don't show to be right. He's never going to be able to get out of it what he put into it and rarely knows how to market his pride and joy when he decides to sell it.

        There are other factors such as desirability of the car to be considered too. I don't care how much you specnd to restore a 1966 Stude Commander made in Canada that has a 6-cylinder and a three-on-the-tree. It's still just a 1966 Stude Commander and won't command high prices.

        Comment


        • #5
          Colt45sa, some of it may also be like myself...the place, time, medical problems, or other things affect how much we are able or want to do at this point in our lives. I would never have dreamed that I would spend the kind of money that we have for our last three cars ( one at a time of course, after selling the previous one ), but it is SO nice to be able to find a car like you have been searching for that is already finished really nice, and is ready to just insert the key and go, that it actually seems worth it. Just a few years ago, I only looked for things to "fixup" to the condition I wanted them to be, and was able to do it all ( except chrome plating ) myself. Unfortunately, ( or fortunately.. ??? ) those days are over, and I am truly enjoying and appreciating this car we have now because I just set down in it, turn the key, and go. I still do regular maintenance things, and it being a 55 model, expect to eventually have to fix something...but it sure is a new-found pleasure to be able to just pay the price ( that did seem a bit high, but worth it to us ) and take off enjoying the car. Now, a disclaimer.... I would love to find a wrecked 60's era GT-40 for about 1500 dollars and fix it up..... No danger of that happening, so I should be safe, ha !

          Comment


          • #6
            Originally posted by colt45sa View Post
            I’m really befuddled by some of the prices I’ve seen being asked lately, and I wonder just how many of the sellers are getting their price and who is buying the cars if they are getting sold. I’ve been around collector cars since the late 60’s and have yet to meet any Studebaker owners who spent any serious money on their car. They put a set of tires on the car, install a new battery, wash and wax it, and ask top dollar. I had a long conversation with a fellow recently who told me that his car had a recent paint job which he said was “really nice”. It had been done by Maaco and cost $800. Now this guy wasn’t in the hills of Alabama either. He was in a very expensive area of the country. My brother operates a very professional restoration shop, and when he walks out of the paint store with paint for one of the cars, he leaves the store with $1200 less than he went in with. That’s just for paint, no reducer, no catalyst, and no supplies, and he shoots PPG products.


            Many of the things done to these advertised cars are simply “maintenance” items. Changing belts and hoses, changing fluids, and doing a brake job is not restoration. They are just things that should routinely be done. The strip and paint on my ’57 Chevy hardtop was $13,000 and it was ‘showroom’ quality work. $800 for a paint job?? Many of the cars are advertised as having less than 80,000 miles on them. Does anyone ever look at things like control arm bushings to see if those claimed miles are believable?

            I’m almost on the verge of stopping my search. I’m not paying ’57 Chevy prices, or Golden Hawk prices, or even Speedster prices for my Studebaker. But should I stop looking? I called a fellow several years ago to simply tell him how nice his car was that he was asking $24,000 for. He asked me to make an offer but I wasn't about to embarrass myself or insult him. I spoke to him again about 6 months later and he had accepted $10,000 for the car. Go figure. The last Studebaker I owned was a ’55 President State Coupe and it had documentation and records by the piles. It took me 2-1/2 years to sell, or should I say give away.
            What are you searching for, Richard? There are nice cars to be had for reasonable prices, but you must be persistent and at least somewhat realistic.

            If you are looking for a fun car at an entry-level price, you must consider a 4-door of some kind. Read Richard Lentinello's column in the June 2018 Hemmings Classic Car, in subscriber mail boxes and on newsstands about now. He makes good points for 4-doors.

            One of the nicest original, unrestored Studebakers I've seen in years is the Timberline Turquoise 1966 Cruiser Bill Pressler scored a year ago. He had been looking off and on for a couple years and this one fit him to a T.

            Keep your options open and let us know what you're looking for and what you want to spend. If it's unrealistic, you can depend on this crowd to set you straight! BP
            We've got to quit saying, "How stupid can you be?" Too many people are taking it as a challenge.

            Ayn Rand:
            "You can avoid reality, but you cannot avoid the consequences of avoiding reality."

            G. K. Chesterton: This triangle of truisms, of father, mother, and child, cannot be destroyed; it can only destroy those civilizations which disregard it.

            Comment


            • #7
              A lot of it is people watching all these car flipping shows on TV. They see all these old cars going for high dollars and they hear about the absurd prices being paid at Barrett-Jackson and all the other auctions. They assume any old car is worth a fortune. Little do they know that Studebakers aren't like that. That rusty, junk 4 door Lark with a 6 banger that's been sitting in their backyard since 1973 they'll ask $5000-$6000 just because its old. They finally realize later that they will never sell it and if they do, be lucky to get 1/10 of what they want. Like has been said, its about desirability. Not that many folks want Studebakers. Unless you've got something special, GH, nice Avanti, R series cars, you can't expect to sell a Studebaker for much. Back in the day, early 70's, people would give me cars or sell them for $25 just to get rid of "that junk". Not any more, now any old rusted POS is worth a fortune cause its old. Not Studebakers. I've always said Much easier to buy a Studebaker than to sell one.

              Comment


              • #8
                Here I go again! I have said it numerous times, IMO there are virtually no post war Studebaker who's monetary value will sustain a good paint job, and certainly not a full restoration. Everyone who wants to, can point to a 1957 Golden Hawk the asking price for which is $65K, and think that is the market, it is not. Anyone planning to put real money into any post war Studebaker needs to know that it is a financial dead end. They should do it because they want to, but with the knowledge that their car will probably worth less then they have invested in it. Nothing that an owner does to his car, is going to make it any more valuable then the next one, of the same model, that will come up for sale, in the near future. Few post war Studebakers are so rare, that there won't be another one available for the person who has the patience to wait.

                The $800 Maaco, scuff and shoot, is a far cry from the $15-20K, for a really go paint job. Unfortunately a couple of thousand dollars, for a paint job, is about what most any post war Studebaker can sustain, and still maintain value, to the owner. I try never to think about value, on anything I own, until I insure it, or decide to sell. I'm happier that way!

                Comment


                • #9
                  The prices may go up, and least some, because of supply and demand. In the last few years of operation, the production numbers were fairly low, especially for Hawks. The more cars that get wrecked, parted out, and scrapped, I would guess that the value of the surviving ones would increase.

                  Comment


                  • #10
                    I would say the opposite, As we studebaker guys get old more and more cars will come on the market. The really choice pieces will retain value. The average, run of the mill cars i believe will go down in value as more cars become available and us old dudes don't want to buy any more. The younger kids for the most part, don't give a hoot about old cars in general and especially Studes. Whose gonna be buying these cars? I believe in the next 10 years or so more and more Studies on the market and not many folks buying. That will make prices go down. My 2 cents,

                    Comment


                    • #11
                      There are plenty of <100K miles, and restored or refurbished cars, to satisfy to market's needs, as the fan base dies off. Today anything that has over 100K miles on it, unless it has had significant work done to it, is likely to be a parts car. Only the best of the most desirable models, are going to see any substantial appreciation.

                      Comment


                      • #12
                        Originally posted by 56 Rando View Post
                        I would say the opposite, As we studebaker guys get old more and more cars will come on the market. The really choice pieces will retain value. The average, run of the mill cars i believe will go down in value as more cars become available and us old dudes don't want to buy any more. The younger kids for the most part, don't give a hoot about old cars in general and especially Studes. Whose gonna be buying these cars? I believe in the next 10 years or so more and more Studies on the market and not many folks buying. That will make prices go down. My 2 cents,
                        I completely agree. I think folks who think that old cars/motorcycles in general will continue to appreciate are going to be in for a surprise over the next decade or two. There will be more old vehicles available than young people who are interested in them. We're experiencing the beginning of a major cultural shift.
                        Dean Seavers
                        Sacramento, CA

                        Comment


                        • #13
                          Here is another "Angle" for ya.
                          The fact that you are in Rich New Yorker escape land: Florida not known for a Large amount of Classic Cars or Cars period just HIGH Prices compared to the West Coast, looking for good quality Studes. at Fair Prices is easier if you go by the old adage; "Supply and Demand"! More Cars = better prices.

                          Drier Location = Better Cars.

                          Just say'in, maybe you have already been there, done that, I don't know.
                          StudeRich
                          Second Generation Stude Driver,
                          Proud '54 Starliner Owner

                          Comment


                          • #14
                            Like the case sited of the $24,000 asking price car selling for $10,000 it can be disappointing. The poster stated that he did not was to insult the seller/embarass himself by making a "reasonable offer." If peole asked "reasobable" prices I'm sure a lot more cars would move. I'm a "bottom feeder" buying the better of the least cars. But, I too have seen the $800 car now asking in the $2,500-$4,000 range. The $200 car in the $800-$1,200 range. And these cars sit and Sit and SIT on Craigslist indefinitely. A shame because most likely wind up going to the junk yard or are outright crushed. Greed, arrogance, stupidity??? Not sure.
                            '64 Lark Type, powered by '85 Corvette L-98 (carburetor), 700R4, - CASO to the Max.

                            Comment


                            • #15
                              Last year I got a $100 paint job on my Dodge Ram. Although it is a $100 paint job...I had to pay $800 for it.

                              It is what I get for filling up my building with old Studebakers, boats & motorcycles, while the newer vehicles sit out in the weather. I could sell my toys and build a new garage, but then what's the fun in that?
                              John Clary
                              Greer, SC

                              SDC member since 1975

                              Comment

                              Working...
                              X