Contemplating Selling...

[Big Secz 26]

I never thought the day would come, but I am actually giving serious thought to selling my '70 vert. Just ready to move on to another project. The market seems to be all over as far as price range, I know I'll never get back what I have in it. But my question is, as rare as '70 verts are it seems the market is exceptionally soft for '70 verts, is this accurate? What's your take?

Edited January 27, 2012 by Big Secz

[Big Secz 26]

I've pulled the trigger. Posted the car in the forum's classified section.

[Jayru 17]

Where are you looking for "the market" you speak of? Places like eBay always undervalue classics if you ask me (unless it's a really rare car).

 

That being said though, with the economy being down, stuff isn't selling for what it used to. I was at Barrett Jackson Vegas in September and they were giving cars away! Stuff that should of went for $25-30K was going for $15K

 

It's a bad time to sell.

[Big Secz 26]

I think it's always a bad time to sell in this economy. I've looked all over the net for '70 Convertibles, and naturally there aren't a whole lot of them out there to really gauge price, but from what I have seen for comparable cars is between $16,900 and $18,000. So I'm asking on the high end of that at $18,000 given all the work and extras put into it. I have over $24,000 invested.

[Max Power 74]

Where are you looking for "the market" you speak of? Places like eBay always undervalue classics if you ask me (unless it's a really rare car).

 

That being said though, with the economy being down, stuff isn't selling for what it used to. I was at Barrett Jackson Vegas in September and they were giving cars away! Stuff that should of went for $25-30K was going for $15K

 

It's a bad time to sell.

 

Ebay doesn't undervalue classics since ebay isn't the one selling the car. It's the bidders that are determining the selling price, and there is really no better way of determining value than looking at what a large group of people are willing to pay for it.

 

Your vert is nice, but it is custom enough where it will need to sell to someone who shares your vision in customs. It's a unique color with a unique decor package. Best of luck, hopefully your next project will be another stang.

[Jayru 17]

Ebay doesn't undervalue classics since ebay isn't the one selling the car. It's the bidders that are determining the selling price, and there is really no better way of determining value than looking at what a large group of people are willing to pay for it.

 

Your vert is nice, but it is custom enough where it will need to sell to someone who shares your vision in customs. It's a unique color with a unique decor package. Best of luck, hopefully your next project will be another stang.

 

I disagree. Yes, your right that eBay isn't the one doing the undervaluing, the bidders are (i should have been more clear with my original statement). But look at any other car market, forum, website, where classics are sold. The prices the cars sell for are always 25-35% higher than the lowballers on eBay.

[Big Secz 26]

Ebay doesn't undervalue classics since ebay isn't the one selling the car. It's the bidders that are determining the selling price, and there is really no better way of determining value than looking at what a large group of people are willing to pay for it.

 

Your vert is nice, but it is custom enough where it will need to sell to someone who shares your vision in customs. It's a unique color with a unique decor package. Best of luck, hopefully your next project will be another stang.

 

 

Yes my next project will be a Mustang. A good friend of mine owns a body shop and restores Mustangs as a hobby, well it's more like an obsession. He said I could come spend Saturdays at his shop and help him work on the several projects he has going on and he will teach me panel replacement and body work along the way. So at least I'll still get to get my hands dirty on Mustangs.

[Jayru 17]

Just curious though, if you're planning on getting another Mustang, why sell the one you have now for a huge loss to sink more lost money into a similar car? Just modify the one you have already ;-)

 

I could understand if you were going for an entirely different type of car though.

[Big Secz 26]

Just curious though, if you're planning on getting another Mustang, why sell the one you have now for a huge loss to sink more lost money into a similar car? Just modify the one you have already ;-)

 

I could understand if you were going for an entirely different type of car though.

 

 

I'm going for a '67 -'68 fastback. I know some will cringe at this but I'm going to build an Eleanor.

[Big Secz 26]

Here's some videos I took today:

 

http://youtu.be/8saDkDhngI0

 

http://youtu.be/hXfeQCDoVbs

[Max Power 74]

I disagree. Yes, your right that eBay isn't the one doing the undervaluing, the bidders are (i should have been more clear with my original statement). But look at any other car market, forum, website, where classics are sold. The prices the cars sell for are always 25-35% higher than the lowballers on eBay.

 

Well, the bidders are the market.

 

And looking at other websites "asking" prices isn't the same as selling prices. Just because someone runs an ad for a certain price doesn't mean it is worth that or will sell for that. It's just a starting point for negotiation. Dealers always jack prices anyway.

 

Other outlets have the advantage of no deadline, and usually a chance for the potential buyer to inspect the car before committing, which should make the prices a little higher, but I think eBay is a great indicator of market value.

[Big Secz 26]

So I listed the car on Craigslist in addition to eBay. Yesterday I get an email from Craigslist and it's the previous owner of the car (the guy I purchased it from). Wanting to know if it was the same car. I asked him if he was interested in buying it back and he said not at my current asking price of $18,000 but if I was negotiable to contact him. I emailed him back and said that would depend on what he is offering.

 

I personally think $18,000 is a fair price for the cars, but the market is soft. What do you all think?

[Max Power 74]

I think you will struggle to get 18 for it.

 

That's not a reflection of the car, just a reflection of the market. The only verts that pull that kind of money seem to be completely stock cars with a hearty option list. "Numbers Matching" for a 302-C4 means nothing. It was a very common drivetrain for these cars.

[Pakrat 1,043]

I never thought the day would come, but I am actually giving serious thought to selling my '70 vert.

 

I feel like this day has actually come before though, weren't you considering this when you had some mechanical issues and the snow cave in etc?

 

I think it's a huge mistake on mulitple levels for a bunch of reasons the least of which is the bad timing in the market and the fact that Eleanor is so yesterdays news that it's now yesteryears news, don't be the last one on the band wagon that was a bad idea to begin with and has gotten worse with age. If you were looking to make a true 67' Shelby clone or even your own slightly modifed take on one I could buy into it since 67' was as close to Shelby perfection as the 69' was to Mustang perfection. But another Eleanor?!?!?!?!? Something like that could result in permanent banishment from this site and I really like you too much to have to do that. :hammer:

[Powershift 19]

I have to agree with Pakrat. If you want an Eleanor car it would be financially crazy to build one at this point. You will never get your money back. There are WAY too many of them out there already. If you want one that bad, I would suggest buying one already completed. I don't even pay any attention to them at car meets anymore. Doing more of a real Shelby clone would be a great idea though.

[Jimjific 23]

I agree about the Eleanor talk. I never liked the look of it when it was "cool". Shelby clone would be much better.

 

As for e-bay. I agree that it is the true market. I watched every day for about 3/4 of a year for a 69 or 70. Sellers on e-bay are smoking dope just as much as people selling on classifieds. I saw cars constantly being re-listed because they had some outrageous reserve. Saw the same thing on auto trader. At least with Autotrader your knew what the person wanted and could deal with them.

 

I don't even want to get into what I think Barret Jackson has done t our hobby.

 

 

My two cents,

Jim

[Fordrevhead 29]

On the other hand its a great time to buy an Eleanor, if thats your bag, that some smuck spent $45k on and now he cant sell for $20k. My build is for the journey not the destination. I have a 2011gtcs 5.0 I could have used that money and bought a real sweet classic. Anyway its a nice car good luck with the sale. I will say pick a bottom dollar in your mind now. Think about what you would be willing to lose or what the point is that you would rather just keep it. Then, do not under any cirumstances go lower. This is what i recently did when i sold my Fox body. Not trying to be a d*ck but wtf is that whistling in the video? Window or top or molding? Thats a couple thousand dollar noise that might be a $50 fix... Just saying. Glws, i would like to have it!

[Big Secz 26]

Wow....Everyone tell me how you really feel, I don't think I quite got it.

 

As for the numbers matching, I mean that in the literal sense, not that it's another 302 with the correct date code. This is the motor that is original to the car with the VIN still etched in the block under the intake. None of the mods that have been made to the car are irreversible. It would be fairly easy to turn the car back to original, but who in the hell wants a competition yellow 'vert with white interior, white wall tires and wheel covers (that's how the car really came).

 

As for keeping the car, I already have more in it than I'll ever see out of it, and it would take a lot more money to get it where I want. Why in the hell would I spend another $15k in the car to get it to where I'm satisfied, only to have nearly $40k invested into a car that wasn't really the car I wanted in the first place and be even deeper in the hole.

 

As for everyone's opinion on "Eleanor", to each their own. A lot of people didn't like the fact that I did a Boss conversion on my convertible, but I didn't do it because I wanted to please everyone else, I did it because it's my car and I'll build it anyway I want. Just like with Eleanor cars I could care less who likes the looks of it or not, this thread wasn't started to say "what is your opinion on Eleanor" because I already knew what that would be.

 

Pak,

 

If you want to banish me from the site, then feel free. I've been an active member in this forum since '09 and made nearly 470 posts. If I'm going to be banished simply because my taste in cars doesn't fall in line with what other people like or feel I should like, then frankly this isn't the element for me and I guess I grossly misjudged this forum and the members.

[Fordrevhead 29]

...I like your mods.. And Pak was just kidding; that's just who he is.

[Lemon Owner 11]

I agree about the Eleanor talk. I never liked the look of it when it was "cool". Shelby clone would be much better.

 

As for e-bay. I agree that it is the true market. I watched every day for about 3/4 of a year for a 69 or 70. Sellers on e-bay are smoking dope just as much as people selling on classifieds. I saw cars constantly being re-listed because they had some outrageous reserve. Saw the same thing on auto trader. At least with Autotrader your knew what the person wanted and could deal with them.

 

I don't even want to get into what I think Barret Jackson has done t our hobby.

 

 

My two cents,

Jim

 

I find most (Not All) of the cars on Ebay are POS and not a true reflection of the market. I have stupidly bought one of said cars so I have little idea and I watch cars on there regularly too. Most of them need alot of work and are the lower end of the market. It seems all of the dregs end up on ebay and not just in cars, but every market. Sure there are some quality but it is the exception and not the rule. In the autotrader magazines here in Australia the quality of the cars tend to be much better needing much less work.

[Big Secz 26]

On the other hand its a great time to buy an Eleanor, if thats your bag, that some smuck spent $45k on and now he cant sell for $20k. My build is for the journey not the destination. I have a 2011gtcs 5.0 I could have used that money and bought a real sweet classic. Anyway its a nice car good luck with the sale. I will say pick a bottom dollar in your mind now. Think about what you would be willing to lose or what the point is that you would rather just keep it. Then, do not under any cirumstances go lower. This is what i recently did when i sold my Fox body. Not trying to be a d*ck but wtf is that whistling in the video? Window or top or molding? Thats a couple thousand dollar noise that might be a $50 fix... Just saying. Glws, i would like to have it!

 

 

The whistling in the video was because the top latch hooks need to be tightened. The top is on pretty tight, so when it sits for some time the top stretches a bit ant the latch hooks have to be tightened. Then when you lower the top the vinyl shrinks a bit and the latch hooks have to be loosened.

[chillininnh 21]

Wow....Everyone tell me how you really feel, I don't think I quite got it.

 

As for the numbers matching, I mean that in the literal sense, not that it's another 302 with the correct date code. This is the motor that is original to the car with the VIN still etched in the block under the intake. None of the mods that have been made to the car are irreversible. It would be fairly easy to turn the car back to original, but who in the hell wants a competition yellow 'vert with white interior, white wall tires and wheel covers (that's how the car really came).

 

As for keeping the car, I already have more in it than I'll ever see out of it, and it would take a lot more money to get it where I want. Why in the hell would I spend another $15k in the car to get it to where I'm satisfied, only to have nearly $40k invested into a car that wasn't really the car I wanted in the first place and be even deeper in the hole.

 

As for everyone's opinion on "Eleanor", to each their own. A lot of people didn't like the fact that I did a Boss conversion on my convertible, but I didn't do it because I wanted to please everyone else, I did it because it's my car and I'll build it anyway I want. Just like with Eleanor cars I could care less who likes the looks of it or not, this thread wasn't started to say "what is your opinion on Eleanor" because I already knew what that would be.

 

Pak,

 

If you want to banish me from the site, then feel free. I've been an active member in this forum since '09 and made nearly 470 posts. If I'm going to be banished simply because my taste in cars doesn't fall in line with what other people like or feel I should like, then frankly this isn't the element for me and I guess I grossly misjudged this forum and the members.

 

Call me crazy but I thought you asked for everyones "take"? I see a nice car that has some rust issues, 18K is gonna be a tough sell.

[Big Secz 26]

Call me crazy but I thought you asked for everyones "take"? I see a nice car that has some rust issues, 18K is gonna be a tough sell.

 

 

I asked for everyone's take on the market in regards to the car I'm selling...I don't think the rust "issues" are that severe considering it's never left the state of VA and all it has is a few quarter size rust bubbles and the one area on the lower rear quarter.

[Max Power 74]

Wow....Everyone tell me how you really feel, I don't think I quite got it.

 

As for the numbers matching, I mean that in the literal sense, not that it's another 302 with the correct date code. This is the motor that is original to the car with the VIN still etched in the block under the intake. None of the mods that have been made to the car are irreversible. It would be fairly easy to turn the car back to original, but who in the hell wants a competition yellow 'vert with white interior, white wall tires and wheel covers (that's how the car really came).

 

As for keeping the car, I already have more in it than I'll ever see out of it, and it would take a lot more money to get it where I want. Why in the hell would I spend another $15k in the car to get it to where I'm satisfied, only to have nearly $40k invested into a car that wasn't really the car I wanted in the first place and be even deeper in the hole.

 

As for everyone's opinion on "Eleanor", to each their own. A lot of people didn't like the fact that I did a Boss conversion on my convertible, but I didn't do it because I wanted to please everyone else, I did it because it's my car and I'll build it anyway I want. Just like with Eleanor cars I could care less who likes the looks of it or not, this thread wasn't started to say "what is your opinion on Eleanor" because I already knew what that would be.

 

Pak,

 

If you want to banish me from the site, then feel free. I've been an active member in this forum since '09 and made nearly 470 posts. If I'm going to be banished simply because my taste in cars doesn't fall in line with what other people like or feel I should like, then frankly this isn't the element for me and I guess I grossly misjudged this forum and the members.

 

Hey, you asked for opinions. Were you looking for a hug instead? The market has dictated for some time that the more custom your car is, the harder it is to find your audience. That's just the way the market works, not a reflection of the choices you made.

 

And while the 302 may have "literally" been the one born with the car, it still doesn't add any value. 302 C4 combos were the norm. People wont pay extra for that.

 

Sorry if that is not what you want to hear, but that is the reality of selling a car.

[Big Secz 26]

I see people continue to miss the point. I'm fine with people saying that the car isn't worth what I would like to get for it. That's not what I took issue with.