EviLette Posted March 5, 2008 Report Posted March 5, 2008 SURELY this has been covered before, but you never know. This thought process has been sparked by my shopping around for new insurance and checking out liability/vs full coverage on the car, checking KBB to see what it's estimated values are. EXCELLENT condition, 92 GP like mine has a trade-in of rougly 725 dollars. Better yet, retail on it is CLAIMED to be 2,135. I can't explain how irritating this is, though its definitely the reason I won't pay for full coverage... because given that i would get THAT much out of it... if it was MY fault.. still wouldn't be enough to get another one with the attention and work done on it that mine has.. unless I got it from someone here! At least, that's my line of thinking. So here's the question. Our cars are depreciating. Yes? Last I knew they were. Given that a lot of us have the 1-st gens that are around 15 years (give or take, mine being 16, soon to celebrate her 17th birthday) When do you think the floor will hit on the depreciation? When will they stop being "old cars" and start being collectibles? Of course, they are NOT just "old cars" to US, and they ARE collectible, at least to the point that we adore them and spend money to keep the black holes (figureatively speaking of course) on the road... Will it go with the 25, 35 ear theory for classic/antique? Granted, there's not a definitive answer to this question, but it seems to be a good theory for discussion. soo.... .. ... .. ... DISCUSS! gogo. Quote
5speedz34 Posted March 5, 2008 Report Posted March 5, 2008 I think a good rule of thumb is 20 years old, when the car becomes a classic. Granted, I don't think most W's can get below $500. The ones that will be worth "real" money are TGP's and CS Convertibles. Then maybe GTP's, Internationals, and Z34's. Most of the higher end "sportier" cars. Quote
hotrodolds Posted March 5, 2008 Report Posted March 5, 2008 The uber rare L67 powered Cutty might be worth something, too. Quote
EviLette Posted March 5, 2008 Author Report Posted March 5, 2008 The uber rare L67 powered Cutty might be worth something, too. Heh, yeah Well I know mine is one of the baseline sedans, so will be excluded from ultra-rare, but they are still becoming rare cars anyhow, just not ultra-rare like the TGPs, no chance of getting to that point. But I will have an uber rare l67 powered GP SE one day. hotrodolds Quote
per0781 Posted March 5, 2008 Report Posted March 5, 2008 a w-body will never be a collectible car. /reality check Quote
Euro Posted March 5, 2008 Report Posted March 5, 2008 a w-body will never be a collectible car. /reality check You know that people back in the middle/late 70's thought the same thing of Hemi Challengers, Z28's, Mustangs, and other muscle cars of the era. Quote
88red4cyl Posted March 5, 2008 Report Posted March 5, 2008 I think a good rule of thumb is 20 years old, when the car becomes a classic. Granted, I don't think most W's can get below $500. The ones that will be worth "real" money are TGP's and CS Convertibles. Then maybe GTP's, Internationals, and Z34's. Most of the higher end "sportier" cars. I completely agree with you.. I don't think the base cars will ever be worth anything.. They just made too many of them and there isn't anything special about them either.. Quote
LuminaPower92 Posted March 5, 2008 Report Posted March 5, 2008 That V8 AWD Euro Lumina is worth tons! Quote
j_mezz Posted March 5, 2008 Report Posted March 5, 2008 I think a good rule of thumb is 20 years old, when the car becomes a classic. Granted, I don't think most W's can get below $500. The ones that will be worth "real" money are TGP's and CS Convertibles. Then maybe GTP's, Internationals, and Z34's. Most of the higher end "sportier" cars. I agree with this theory especially with the convertibles (although I don't think anything from the 80's\90's will ever be a real classic). Hemmings motor news has suggested that the vert is a 'future collectible', especially given that they didn't make That many of them and they seem to be crushing them at a pretty good rate. Everyone that I know of that had one seems to have good memories of them, that'll help - sooner or later demand might exceed supply. You have to treat it like art though, get what you like and enjoy it while you can. If it's worth more than you paid for it when you're ready to sell it that's a bonus. Quote
Chancho Posted March 6, 2008 Report Posted March 6, 2008 Once your car hits the 2 grand mark in excelient condition it doesent really depriciate, at that point its worth is only what you can get out of it, now if your car was a 04 to sell it quicker u lower the price below kbb and such however when it comes to older cars there is no appriciation/depriciation, just problems or lack there of Quote
mediabandit Posted March 6, 2008 Report Posted March 6, 2008 well this will address your insurance issue.... if you want to have full coverage on your car, then go to an independant appraisor and have him write up a quote for you on the value of your car. usually costs $50.00-$75.00/quote. then take that into your insurance agent and they will modify the value of the car. so if anything happens and your car is written off you will get the actual appraised value of YOUR car, not just of a generic blue book valued car. Quote
Addicted To Boost Posted March 6, 2008 Report Posted March 6, 2008 This is why I won't ever sell my 89 GP SE. It will never really be worth anything, except to me. Thats not a problem for me though, I love the car. Quote
RareGMFan Posted March 6, 2008 Report Posted March 6, 2008 a w-body will never be a collectible car. /reality check You know that people back in the middle/late 70's thought the same thing of Hemi Challengers, Z28's, Mustangs, and other muscle cars of the era. Precisely. There are tons of ordinary, dime a dozen 30, 40 and 50+ year old cars that are now worth money. No one back then would have anticipated that to be the case, unless you're talking about something rare like a GNX, or TTA, etc. Yet, here we are. TGP/TSTEs are certainly enough of a specialty vehicle to be collectible in the future, and Cutty 'verts being the last convertible Olds (and being in small numbers) will certainly have some value as well. Quote
hotrodolds Posted March 6, 2008 Report Posted March 6, 2008 Yeah, I am the same way with the Olds. It's worth about $1600 at best. I have over $9000 in it. I'll never sell it. Quote
1990lumina Posted March 6, 2008 Report Posted March 6, 2008 a w-body will never be a collectible car. /reality check I will agree with you on that. Quote
rockfangd Posted March 6, 2008 Report Posted March 6, 2008 I dont really think they will be worth much. only the very high end models Quote
hotrodolds Posted March 6, 2008 Report Posted March 6, 2008 Not even that. Ones with history, like the Cutty pace cars, and MAYBE the GP Pace cars will be the only ones to really draw more than average dollar. Quote
RareGMFan Posted March 6, 2008 Report Posted March 6, 2008 The TGPs already draw more than average w-body dollars. Several times now, mint condition ones with low miles have gone for $8k+ on eBay. Rough ones still fetch $1k - $2k, which is the range for mint condition regular model early '90s GPs. Quote
EviLette Posted March 6, 2008 Author Report Posted March 6, 2008 well this will address your insurance issue.... if you want to have full coverage on your car, then go to an independant appraisor and have him write up a quote for you on the value of your car. usually costs $50.00-$75.00/quote. then take that into your insurance agent and they will modify the value of the car. so if anything happens and your car is written off you will get the actual appraised value of YOUR car, not just of a generic blue book valued car. I'll definitely have to take that into account. I like that idea a whole lot and hadn't even realized that I could do it. I think a good rule of thumb is 20 years old, when the car becomes a classic. Granted, I don't think most W's can get below $500. The ones that will be worth "real" money are TGP's and CS Convertibles. Then maybe GTP's, Internationals, and Z34's. Most of the higher end "sportier" cars. I completely agree with you.. I don't think the base cars will ever be worth anything.. They just made too many of them and there isn't anything special about them either.. I wasn't saying that the ones like my baseline would be anything super spectacular, but anything that there are only a few left of is going to be at least a collectible to someone. Like me. LOL. Don't think I plan on turning it around and selling it for 120 grand, that was NEVER what I meant. Nor would I ever sell the car, I love her too damn much to do that. I do have to say, however, that even though I'm just driving a first-gen SE, even in the condition its in, the driver's side turns heads. Maybe there are a whole lot like mine where some of you guys are from, but here there are very few of them. There are enough of them that people have to do double takes and ask cautiously, "Is that a ....Grand Prix?" Maybe it's a demographics thing, and maybe it's me having my head in the clouds. I do stand firm on the fact that there will always be someone out there who considers them ALL collectibles, besides just me. "At the rate they are going to the crusher..." was said about the Cutty 'Verts, and while I completely agree with this, and know there is nothing particularly special about mine, I just think that there's a good chance that it will go the same way as this generation of F body... Early 90's firebirds and camaros, even the baselines, are becoming collectible because they are virtually non-existant too. Once again, maybe it's a demographic thing. Who knows. I'm going to bed now lol. Quote
88red4cyl Posted March 6, 2008 Report Posted March 6, 2008 Must be a demographics thing.. Around here, every third car is a W-body, and I am not kidding.. I place the W-body along the lines of the J-body and N-body in terms of future collectibility.. Like I said before, some of the will be collectible, but most will just turn into 'old cars' and be crushed.. Maybe they'll have value to a select group of people (more than likely it will just be sentimental), but not to most. Not trying to bash our cars or anything, just trying to be realistic.. Quote
EviLette Posted March 6, 2008 Author Report Posted March 6, 2008 Must be a demographics thing.. Around here, every third car is a W-body, and I am not kidding.. I place the W-body along the lines of the J-body and N-body in terms of future collectibility.. Like I said before, some of the will be collectible, but most will just turn into 'old cars' and be crushed.. Maybe they'll have value to a select group of people (more than likely it will just be sentimental), but not to most. Not trying to bash our cars or anything, just trying to be realistic.. Dare to dream, man. I'm partial to the Grand Prix and the Montes... there's a lot of 2nd gen Montes and a fair amount of 1st gen GPs around here... but virtually NO coupes... and even less of them of my era (92-93) lol Quote
Psych0matt Posted March 6, 2008 Report Posted March 6, 2008 So, apparently I'm a collector? Dang, I really need to get a beater, and stop trading them for W-bodies! (or just get a W beater ) Quote
Addicted2bass Posted March 6, 2008 Report Posted March 6, 2008 I dont see the common W's ever being worth anything. And by the time a TGP or vert becomes a collectors iten there will be no gas left to put in the cars anyway... I am excited that my TGP will be a "classic" next year!! Of course my 87 Park Ave is considered a "classic" now....but its really jus a classic piece of shit. Quote
j_mezz Posted March 7, 2008 Report Posted March 7, 2008 Not quite, it'll be an antique. To be a classic it has to be accepted by the classic car club of america (I think that's who decides), who awards these distinctions somewhat...randomly. I don't think any Oldsmobiles or Pontiacs have ever been officially deemed 'classic'. Quote
j_mezz Posted March 7, 2008 Report Posted March 7, 2008 Well, I googled it, the official term is debateable (http://en.wikipedia.org/wiki/Classic_car). While I don't completely agree with the classic car club of americas opinions I do feel that to call something a classic it really Should be something pretty exceptional... Opinions are like assholes, everyone's got one and they stink! Quote
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