I am actually wanting to have opinions about the resale of restored American classics and muscle cars. Does anyone know what the market is like for that at the moment? And roughly how quick they sell. Thanks
location, location, location.
There’s no possible way to answer that.
All is dependent upon your area and your market or your ability to get that vehicle to an appropriate makert area.
You question is too broad in scope to be answered accurately. There are many variables. What make? What Model? What trim level of that model? What engine? What transmission? What color? What Interior? What factory options? Is it numbers matching? Is it restored? Who did the restoration? Was it restored to stock specs? Was it restomod’d? How many miles are on it and/or the restoration, and so on.
Other than agreeing the questions are near impossible to answer, I would say that in most cases the expectations are much higher than the reality.
Televised auctions and the plethora of TV “restoration” shows in which an alleged buyer pays 6 times what the car is really worth do not help any.
Too many variables, Most have to be at the right auction with two or more people looking for that particular car. Rare and most powerful versions will always have a market (L88 corvette,Shelby GT350) but a lesser example might sit awhile depending on asking price.
There’s the Barret-Jackson results and then there’s what dealer’s and private sellers are getting.
The most popular colors, models and options will always sell higher and quicker. Rare AND desirable cars will hold value, for the most part. Cars desired by 16 year olds in 1969 will command high prices 40 years later when they can now afford their 60’s dream cars. They will, however, LOSE value when those collectors die off or get too old to enjoy them anymore.
If you buy a car, look for a “survivor” car that is unrestored and then make it run well and sell it quick. OR look for one someone else has spent huge dollars to restore and buy it for pennies on the dollar, enjoy the heck out of it and sell it for what you paid. Educate yourself so you know what a good deal is and pay 30% less for it or walk away. It is a cheaper way to lose money than racing cars…
Televised auctions and the plethora of TV "restoration" shows in which an alleged buyer pays 6 times what the car is really worth do not help any
A lot of that - is people are buying based on the name of the builder. If the builder is reputable (like Chip Foose)…then people will pay a lot more money then if Joe Nobody did the rebuild. Even if they are built identical.
There are many levels of restoration. Frame off restoration where they basically strip everything off the car and strip all the paint…then repair any rust (with new metal panels/frame) and then paint and reassemble. All parts that are worn are either refurbished or replaced.
And then is this a restore to Factory New…or New (but modernized)? There’s a difference…and the price is different also.
The price range could be anywhere from $20k up to $100k.
Let’s cut to the chase
Are you looking to buy, restore, and flip classic cars?
General rule is sale price = purchase price + 1/2 cost of improvements
If you have to ask these very basic questions, then you probably should be looking into another way to make money. Most of the people in the field have been doing it all their lives, and they know tyros when they see them, and you’ll lose every time.
I’ve told people a lot, and I’ll say it again. Car make LOUSY investments for most people. If you see a car you like, that stirs your soul, that you think will be fun to own and drive, go for it and enjoy it.
If you’re lookin for an “investment”, fuggidaboudit. Buy stock and bond, or t bills, or somethig like that.
When I was in High School I bought several vehicles. I would buy one and then be offered more by a fellow student. It varied from $50 to $200. How could I refuse those 1960s dollars? I wish I had those vehicles now as they would be in the 10s of thousands. In the 1970s I bought some cool cars which I ended up taking significant losses on. Cars are a crap shoot!