NASCARCorvette No. 211

Value Trumps Price…

Collector Car Math: Value + Price + Exhilaration = Complete Satisfaction. I have asked/answered this equation thousands of times over my lifetime and since the Great Recession of 2008 took hold, the importance of getting this equation right has taken on a new importance. It isn’t just me but anyone who dabbles in the passionate world of collector cars has asked these questions. Mike Farbairn (RM Magazine, Summer ’13) wrote an article giving some sound advice in purchasing a classic car. First he asks, “How much is too much?” Ownership tenure involving a quick turn around like flipping the car and short-term ownership (90 to 100 days) necessitate a perceived monetary profit translating to a bargain hunter’s mentality. Long-term classic car proprietorship is a bit more ambiguous. It involves a bigger commitment to the car’s integrity, provenance, and market value. “In my experience, the very best is seldom cheap” but rest-assured the work in acquiring the “long-term hold” will pay dividends down the road. How can Mike be so sure? He is certain because of two universal collector car truths; (1) the market has always surpassed retail price and (2) when you own the best, there is always a profitable resale market. So in the end, Value Trumps Price. Price is secondary to exhilaration. Passion is incalculable.  Questions or comments? Email: [email protected]

1958 Corvette Convertible | Value Trumps Price1958 Corvette Convertible | Value Trumps Price

Tags: Corvette Buying 101