# Are GTO values going downhill?



## Roger that (Feb 6, 2010)

In May 2010 the Mecum auction company had the "1965 Hurst GeeTO tiger give away" car sell for $250,000. This same car was auctioned off in 2007 for $420,000. This car was also in the book: Million-Dollar Muscle Cars.


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## 68greengoat (Sep 15, 2005)

Probably no more than anything else in this stellar economy........


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## crustysack (Oct 5, 2008)

classic muscle cars are a luxury item to most people so when you are flush with cash (2007) all the people with tons of money (on paper) drive up the cost of these things just to say they own one. Then when they read their investment return from Bernie Madoff (lost 50 BILLION dollars), then when the housing market crashes, and the stock market, and unemployment is over 10%, a lot of disposable income dries up. and all markets reflect this


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## 05GTO (Oct 6, 2004)

crustysack said:


> classic muscle cars are a luxury item to most people so when you are flush with cash (2007) all the people with tons of money (on paper) drive up the cost of these things just to say they own one. Then when they read their investment return from Bernie Madoff (lost 50 BILLION dollars), then when the housing market crashes, and the stock market, and unemployment is over 10%, a lot of disposable income dries up. and all markets reflect this


:agree

Have your home appraised and compare that to what it was worth 3 years ago, who would have ever thaught you would see real estate values fall 25%-40%.


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## Eric Animal (Oct 28, 2007)

Yes, prices have dropped. Unfortunately, prices for "new" parts,shipping, and labor have not. So.... it costs more and more to restore or build. It costs less to buy the project car, or "one already done". The problem with "one already done" is ,.....who did what to it! $.02 Eric


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## GTO JUDGE (May 14, 2005)

Times are tough now everything is down cept gov't spending. :willy:
Prices on BJ reflected this as well as Mecom. I did see some old Tempest race cars fetch 200K though which surprised me. I also saw a pristine 69 judge go for 40K. 
Its a buyers market, need a loan NOW's the time to secure a good rate. NEED to sell a classic car or house, you're gonna take a hit. It will come back question is when.


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## Thumpin455 (Feb 17, 2010)

I would rather the prices werent so high. I like the cars for what they are, and I like to build and drive them. They are not an investment to me. Seeing a clapped out Tempest for $9,000 just because it is like a GTO and some GTO sold for eleveentybillion dollars is stupid. Its a 40+ year old car and it needs everything, that fresh paint job doesnt fix everything that is wrong with it.

The prices for the rare cars drives up the prices for the lowly non performance rides too, because every hockey puck who has one sitting in the back yard now thinks its his retirement nest egg when really it is a $500 or $1000 car.


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## geeteeohguy (Feb 2, 2008)

Thumpin, you hit the nail on the head. Cars are for CAR PEOPLE, not investors! Thank goodness I bought the two I still have when they were just used cars!


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## Rukee (Feb 8, 2007)

geeteeohguy said:


> Thumpin, you hit the nail on the head. Cars are for CAR PEOPLE, not investors! Thank goodness I bought the two I still have when they were just used cars!


:agree I was also lucky to have bought mine when it was just a used car.


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## GTO JUDGE (May 14, 2005)

geeteeohguy said:


> Thumpin, you hit the nail on the head. Cars are for CAR PEOPLE, not investors! Thank goodness I bought the two I still have when they were just used cars!


:agree
I wanted a driver. Many want trailer queens, that is fine for them. Getting trophies and bragging rights are fine if that is what you want, my trophies are those giving me thumbs up, waving, and pointing as I drive it. 
I have a dozen trailer queens on my shelf in the garage on display.... It ain't fun unless you are driving.


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## Eric Animal (Oct 28, 2007)

:agree I sure don't look at mine as an investment. I just wanna build it, then drive it. The price of this hobby is waaaaayyyyyy out of hand ! Things will get better someday. Meanwhile use the low interest rates to get what you need, before they go up.


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## jetstang (Nov 5, 2008)

Barrett Jackson is fantasy land, $200K cars or more? 
But, you will see cars at Mecum going for way less. $20K for a frame off GTO. I have heard that Barrett Jackson cars don't always sell, even without reserve, they just have a buddy buy it back for them. These guys aren't stupid.
The wrench hopes a collector comes by to buy as an investment as the wrench can get his money back.
It's all about salesmanship and being savy. Buy low and sell high..
It's a buyers market, time to pick up cars at fire sale prices. Home equity loans will give you the funds you need, but banks don't do home equity loans like they used to. Lack of disposable income will kill car prices because people want the cars, but can't get the money to buy them, thus reducing the buyers dramatically.


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## Lil GTO (Jun 27, 2006)

*What you don't see*



jetstang said:


> Barrett Jackson is fantasy land, $200K cars or more?
> But, you will see cars at Mecum going for way less. $20K for a frame off GTO. I have heard that Barrett Jackson cars don't always sell, even without reserve, they just have a buddy buy it back for them. These guys aren't stupid.
> The wrench hopes a collector comes by to buy as an investment as the wrench can get his money back.
> It's all about salesmanship and being savy. Buy low and sell high..
> It's a buyers market, time to pick up cars at fire sale prices. Home equity loans will give you the funds you need, but banks don't do home equity loans like they used to. Lack of disposable income will kill car prices because people want the cars, but can't get the money to buy them, thus reducing the buyers dramatically.


One time I caught the some of the Friday session of a Barrett Jackson auction - and the average selling price of cars early in the event was down around $20k or maybe even less - the mid saturday afternoon and sunday morning cars that get broadcast on TV are the $100k plus cars - which makes for more exciting television. How many people want to see the auction for a 1972 Dodge with no interior that doesn't run for $5k vs the first on the new Ford GT ever made selling for something like $1 million (i forget exactly but it was a lot).


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## 68greengoat (Sep 15, 2005)

I enjoy watching the first day of the auction. It's more, "real cars for real people". I like to see what goes for $10 - 20k. To me, that's more interesting than watching cars that are unattainable. Although, the first day is starting to get pricey too. I'm mean really, how many mustangs, camaros or vettes do I really need to see??!! I like camaros and vettes, but after awhile it gets old.


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## BillGTO (Oct 16, 2009)

GTO JUDGE said:


> :agree
> I wanted a driver. Many want trailer queens, that is fine for them. Getting trophies and bragging rights are fine if that is what you want, my trophies are those giving me thumbs up, waving, and pointing as I drive it.
> I have a dozen trailer queens on my shelf in the garage on display.... It ain't fun unless you are driving.


I got my GTO specifically to be able take it out. The thumbs up and honks I get while driving make the whole thing a blast. I had a trailer Queen and it made me nervous to take it out. Now chips and dings bug me:cheers, don't get me wrong, but touch it up and keep on trucking!


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## NJG8GT (Nov 14, 2007)

GTO JUDGE said:


> :agree
> I wanted a driver. Many want trailer queens, that is fine for them. Getting trophies and bragging rights are fine if that is what you want, my trophies are those giving me thumbs up, waving, and pointing as I drive it.
> I have a dozen trailer queens on my shelf in the garage on display.... It ain't fun unless you are driving.


+1 for the judge! How's that guage pod treatin you ;-)


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## GTO JUDGE (May 14, 2005)

NJG8GT said:


> +1 for the judge! How's that guage pod treatin you ;-)


I think I am gonna remove the gauge pod and the CAI from the 05 and install them in the '70. Remove the RA III and install in my sons Cobalt. 
That would stir things up.... CAI in there and the gauge pod on the dash. Instead of making a new GTO resemble some of a classic have a classic resemble some of a new one? I've seen some with LS2's in them why not CAI... I will have to modify the Rochester Q-Jet. :willy::willy::willy::lol:




..... Both are working fine!!....... Cya at our Pontiac Show in Aug?


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## Jeff's Classics (Feb 24, 2010)

I think prices are down a little, and I took the opportunity to FINALLY get my GTO. Been wanting a '68 or '69 for about 10 years, and the right one fell in my lap in March so I bought it. No loan required, had cash on hand. I never have, and never would, borrow money to buy or repair/restore a classic car. Now I'm planning the resto-mod, which will cost me much more than the car, but that's OK, will be a really nice (and fast) cruiser when I'm done. Don't care what it's worth to anyone else when I'm finished, I've got no plans to sell.


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