Quote:
Originally Posted by 1965gp
It was mentioned earlier that this was a terrible investment if bought new and I 100% agree. My goal is usually to find the opportunity - in case of my GN I paid $20k for a 1 owner car that I had known well since about 1995. I feel that I paid retail (at the time ....2 years ago) but felt confident that these cars would continue to go up in value. My target for that car would be for it to hit about $35k which I think is obtainable for a car with documentation back to mile 1. I still have two of the original tires off the car. It has 60k miles on it now (I think) but presents itself as if it had about 20k miles on it. I have no illusions of it ever being with $60-70k but I think I will make money if I am ever put in a position where I need to sell and that’s all I really expect.
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I think those are very realistic targets and make sense. With 60K on the car, I assume you get it out and have some fun with it from time to time and enjoy driving it. That has value. Your not going to retire off the profits and have no delusions of that. People who buy new production cars like a GN and really believe they will be worth a fortune in 30 years would do better in other forms of investments. There are a very few rare exceptions, like an AC Cobra, or a 63 split window Vette. But of the thousands of interesting cars built and sold, what are your chances? Most of these cars, even if never driven are lucky to keep pace with inflation not including the cost of storing and caring for the car for 30+ years. As mentioned several times above, from a pure investment standpoint, not a good one.