[fred jernejec]

I really cannot get some of the prices dealers are asking and getting for there cars! case in point is a 1967 pontiac lemans convertible. I saw this car on a web site last year in Missouri for around 18,000.00. It appeared to be a very nice car and the person really wanted to sell it. Another car came my way in Michigan which was a lot closer and I went out and looked at it and bought the car. I was on the same web site and saw the same car advertised at 38,000.00 with a sale pending on it! Car looked exactly as it did when I looked at it. Why are people prone to buy cars from dealers that know nothing about what was done to the car??? I personally will not even look at a car a dealer has on the internet! thoughts?? Fred

[zephyrracer]

We have a couple places close to me and from what I can see for many its a place to store their car clean and dry and while its there might as well put a price tag on it, car company charges $350 a 1/4 and a % when sold, has a large market take 50 pics and ask way more than the car is worth, take a car that's worth 15k ask 35k blame no sale on the economy and after 6 mo and sell it for 25 to 30k to show you what a good deal you fell into. It is always a good idea to personally look at the cars because pics hide a world of imperfections. Realtors sometimes do the same advertise for 25% more than the value of the home, blame the economy drop the price for quick sale.

Gregg

[lilabner]

Profit is not a dirty word.

[Verdoro 68]

The very first sign you see at the dealer in my area is "Price too high? Make an offer!"

They want $75k for a very driver quality '64 GTO convert. As far as I can tell, they've had the same crop of GTOs for sale for about 2 years.

[69goatboy]

It makes perfect sense when you think of their clientele.

Who goes to a classic car dealer? Primarily those that can write a big check for a car already done. White collar executive types (usually) with a decent amount of discretionary income to blow on big boy toys to sit in a garage and are there to be shown off to friends, family and coworkers.

While the rest of us scour the local ads for something affordable, then to spend countless weekend hours to get it to the way we want it.

I find nothing wrong or right about either demographic. It just is what it is.

[71SportRagtop]

We also live in a society of "immediate satisfaction".

Think about it.....everybody runs their credit through the roof. Credit cards home equity loans, ect. Nobody wants to do things the old fashion way which is to save a little each week until you can afford wat you want. Not today....hell let me buy this on my credit card and when I've maxed it out, I'll just open another account with 0% interest and max that out too. Its crazy.

People don't want to wait and do a 10 year restoration.... Hell no not when they can just max out their credit.

Although I do have to admit that I can't argue with part of that theory. I am 46 years old and feel like I've been busting my knuckles on my classic cars for the past 30 years. Screw that anymore. I'm fricking tired of laying on my back trying to rotate my arm in 10 different directions to slowly turn that last nut which is a mother f-er. We've all been there and it's a pain in the balls.

I'd love to plunk down $35k and walk away with a bad ass turn key Muscle car. But alas I had the choice in life to either be rich or good looking and I lost on both accounts!

[64CatalinaVentura]

We've got a classic car dealership in the next town over. They recently sold a beautiful 64 Grand Prix with a 389 4bbl and most power options for $29k. It must have taken two years to sell it, but they finally found someone. The car was beautiful, but for $29k...

When I bought my Catalina I got it via a classic car dealer that was selling it on consignment. They knew absolutely nothing about the car, right down to the engine (they advertised it in several places as having 235hp, it has 303). When I spoke to them on the phone and asked about the Ventura trim (which it has, although incorrect trim parts due to a sub part attempt to redo the interior), they had no idea what I was talking about.

[71GP76TA]

I have never purchased a classic from a dealer. I too am blown away by the asking prices. I have thought about taking one of my cars to Kassabian Motors in Livermore just to see if they can get stupid money out of it.

[tripower]

Originally Posted by 69goatboy

While the rest of us scour the local ads for something affordable, then to spend countless weekend hours to get it to the way we want it.

Which makes us smarter, not necessarily poorer.

[Greg Reid]

Well, I don't know if it's necessarily smarter or dumber to do one or the other. You just make choices in life...Some of us learn how to work on cars (or whatever happens to interest us) so we can have the ones we want and some of us learn how to do what makes money so we can buy what we want. It's just a different way to get to the same destination.

[i82much]

Hey I paid for a "full" resto and I have still done a ton of work on my car and I'm not even close to done. To tell you the truth, my car was so important to me, and I knew that I couldn't do the resto myself, that I actually decided to go to law school so I could make enough to pay somebody to restore it.

I know that sounds crazy, but it's the gods-honest truth.

[69goatboy]

There's nothing wrong with either way.
Hell, if I had the funds to finish my ride with one check, I'd do so in heartbeat.

But to get back on topic, the classic car dealers are a business. They get their inventory by paying the least they can and make their profit by charging a much as they can. And much of them operate like a pawn shop with consignment deals. They are concerned with ROI, the guy you find in a local ad that is selling his ride knows he'll never close to recouping what he has into it, so he's only (usually) concerned with getting a fair market dollar for his pride and joy.

[Jerry H.]

Dealers serve a purpose. As some have said, they sell cars that can be enjoyed immediately, not have to be worked on for months or even years. And they get paid a premium for that. You also have to realize they are a business and as so they have overhead, and some have lots of it. Expense real estate costs, advertising, interest to maintain their inventory, sales staff's commissions, and much more.

Back 25 years ago I was part of a small dealership that maintained 8-10 classic cars as part of a regular used car dealership. The 'classic car' part of the dealership operated completely different that the used car part. The main difference is the time you held your retail inventory. In a normal used car operation, after 90 days on the lot a vehicle is considered 'stale'. Time to cut the profit to a bare minimum or take it to auction. In the classic car part, you might hold a car for 2 years, or longer. Generally classic cars don't depreciate like regular used cars, and possibly appreciate above the interest you are paying on them while you are holding them; so you are pushed to move them.

The hardest part of that operation was finding good inventory. There wasn't an auction every weekend like there is now, and there wasn't the interest either. We were lucky and got out before the 'downturn' of muscle cars in the early 90's.

[72projectbird]

I almost pulled the trigger on a 93 5.0 notch last year, but was a day late. It was a beautiful car, Calypso green with a full Saleen body kit and wing. The guy was asking $5500 for it. Its for sale this summer at a dealer in NH for $7900. I really wanted the car, but not for what the dealer is trying to get for it.

[bird72]

The bad thing is trying to get history.... it often evaporates, or is some wild story.... and I just scoped a dealer Formula400 that unfortunately had liberal spray bomb engine compartment detail... right there it was more than I could deal with...

[arbys]

The classic car dealership is for the people that don't want to beat the bushes to find their dream car. They walk into the dealership and there be 2,3 or 4 cars that meet their wants. I, personally like the thrill of the chase and beating the bushes. I also try not to limit my wants to a specific year, color or trim line. That opens many more doors.

[zeebo]

I have to say that I bought a car on consignment from a dealer four years ago and since I had done a lot of homework, I feel I paid market value for the car. also, they shipped it to me enclosed 1000 miles to my door for free. I have not seen another one like it similar to mine sell for any less. though you are right--I like beating the bushes and scouring online for cars and parts too. ya never know what comes up for sale!

[fiedlerh]

About 10 years ago I thought it was outrageous that Volo would have the stones to ask $38K for a 69 Trans Am. They even had a couple to choose from.

[Alvin]

Originally Posted by fiedlerh

About 10 years ago I thought it was outrageous that Volo would have the stones to ask $38K for a 69 Trans Am. They even had a couple to choose from.

Sure, that was when "no one wanted them" too!

Buyer beware, no matter who's selling IMO. I've driven some really great looking (in photos/web/TV Auctions) vehicles that were J-U-N-K!

I've no problem with dealers. They're in the business to make a profit, which sounds easier that it actually is in many cases. And often they present cars that you may not ever see For Sale unless you happen to live in their specific geographic area.

Although, I too enjoy most the "finds" from individuals that often simply want their vehicles to be passed on to someone who'll preserve them, or at the very least appreciate them for their uniqueness’, etc.

[poncho-mike]

I suspect it is getting pretty tough to be a dealer any more.

Let's face it, individual owners have a lot more information at their fingertips than they used to. Collector car auctions are broadcast on cable showing prices for collectors, auction sales data is readily available in many locations, and anyone with a computer can search out pricing data for similar cars.

Before the internet, you had the Old Car Price guide and collector car dealers. With no photos or anything to compare to, it was tough to price your car. Once you decided to sell and set a price, you could advertise in Hemmings (and wait two months for the ad to come out), advertise in the newspaper or Car Trader magazines. If nobody bit, you lowered your price and tried again.

Now we have craigslist and various enthusiast forums such as this to advertise free on. Why sell to a dealer when you can get better money for a little more effort. Unless the economy is in the toilet and nobody is buying, I expect dealers have to pay better than they have in the past.

I remember passing on a nice 69 T/A Ram III 4-spd with non-matching WT block about 25 years ago for $8K.