World Record Price for Yenko Camaro?
 

What is the highest price anyone has seen for a Yenko Camaro? A '69 Rally Green Yenko Camaro sold a few weeks ago in a Houston Auction for $247,500 + buyers fee. I think the buyer's fee is around 8% putting the selling price around <font color="red"> $267,300 </font> WOW! When did they start selling for this kind of price?

Re: World Record Price for Yenko Camaro?
 

That has to be the highest I have heard of.

Re: World Record Price for Yenko Camaro?
 

Cool... That was the Rally Green Supercar workshop car that Worldwide had.

Re: World Record Price for Yenko Camaro?
 

WOW!!

On a side note, this past weekend I was visiting with some one who is not into cars, but is into making $$$. He told me that according to several investment experts, musclecars is the #1 investment right now.

Re: World Record Price for Yenko Camaro?
 

Quote: On a side note, this past weekend I was visiting with some one who is not into cars, but is into making $$$. He told me that according to several investment experts, musclecars is the #1 investment right now


Same exact comments I heard in 1989 before the collapse of prices. Notice how many collections are now coming up for sale all of a sudden just in the last month??.. Barris, BoB McDorman collection out of Columbus (supposedly the largest Chevrolet collection in the world) come right off the top of my head.
These guys are not dumb. They are getting out while the getting out is good.

Article came out today about the pending "Housing Bubble" collpase.
Areas like Miami that were growing 20-30% per year in value have just suddenly very rapidly leveled off. The article said people who were waiting in line for 6 weeks at one Condo place that was under construction to get a unit last year now have a buyers market. Now there are vacanncies everywhere and "Vulture Capitalist" groups are the hottest investment trend being formed today. Groups of people are forming these "vulture capitalist" groups with $$ to buy properties at upcoming foreclosures for cheap.

My prediction is the drop in housing prices is going to really affect the car prices. I think they will coincide with one another.

Re: World Record Price for Yenko Camaro?
 

I think collapse is a dramatic forecast,but certainly a 10-15% cooling trend is both probable and healthy.Pedigree cars with paper will always be a good investment,even after the boomers pass through.The only thing that will trigger a "collapse" in the So Cal market will be a literal one-EaRtHQuAAKE-

Re: World Record Price for Yenko Camaro?
 

In certain hot areas of the country a collapse will the appropriate term. The areas known for flippers. People buying a house and selling it a month later for a $50K profit.

Anyway getting back to the cars I also notice all the mags pushing the high prices and how everyone know thinks their car is worth 100K

Re: World Record Price for Yenko Camaro?
 

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Same exact comments I heard in 1989 before the collapse of prices.

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Based on the fact that I probably hadn't gotten my first pimple yet in 1989 - how much of a dive did the prices of cars take...actual examples would be helpful. https://www.yenko.net/ubbthreads/imag...lins/dunno.gif

Re: World Record Price for Yenko Camaro?
 

I have felt for a while the economy in general (some areas are great and some suck)is average at best. It would be much better if we paid less out on welfare, criminals and prisons, etc.
As far as this car goes, what a beauty. I find it interesting that WW Muscle had the car listed for 12-18mo. with price around 150 or so and couldn't sell it and now it goes for 275K, go figure. I think cars are like the economy - if you find the right person wanting the right car chances are good you will see top dollar paid, just like a house of the same square footage is 100K in one place and 500K in another. Maybe the guy that bought it just sold a house and made 500K from an area where the economy is good!

Re: World Record Price for Yenko Camaro?
 

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Anyway getting back to the cars I also notice all the mags pushing the high prices and how everyone know thinks their car is worth 100K


[/ QUOTE ] LOL

Highly doubt you will see prices of Real Estate drop.....level off maybe but drop???

Re: World Record Price for Yenko Camaro?
 

[ QUOTE ]
Anyway getting back to the cars I also notice all the mags pushing the high prices and how everyone know thinks their car is worth 100K

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I just don't get this statement...translate please https://www.yenko.net/ubbthreads/imag...lins/dunno.gif

Re: World Record Price for Yenko Camaro?
 

It means you should sell me your Yenko Chevelle for $100K. https://www.yenko.net/ubbthreads/imag...mlins/grin.gif

SS

Re: World Record Price for Yenko Camaro?
 

Congratulations to the Buyer and Seller! What a Beautiful example of not only a Yenko Camaro, But an Excellent Restoration Job!! as for the talk of Housing Bubbles Bursting, That has been discussed for the last two years. it Has not happened yet. as long as interest Rates are under 10%, the market will remain the way it is. For Cars and Houses. in Philadelphia for example, the Real Estate Market has caught on FIRE! entire slums are being Bought paying $100K for Rowhome Shells! the Reason things may be cooling off in Florida is for the simple fact that it has been a Bonanza down there for so long that it had to crest at some point. watch for areas like, Texas, Oklahoma, and New Mexico to be the next "Florida" as the Baby Boomer's who continue to buy the Muscle cars of their youth also want warm Climates to retire to. Florida is now considered Crowded and Overpriced.

Re: World Record Price for Yenko Camaro?
 

If we only had a crystal ball... As far as Florida real estate, some areas are still strong. Sarasota county saw a 41% appreciation from Feb. '04 to Feb. '05. In march we toured some of the model homes in some golf course communities. A row of $3,000,000+ plus homes had remained unsold for months with the local papers referring to a 36 month supply of $3,000,000+ homes. In the last month half of these homes had sold. I guess like parts, all it takes is one to pay the "new" price and the perceived "value" goes up also. Another Condo project on the water near Englewood Florida was just listed with units starting at $900,000. The project is already 50% sold out within the first few weeks of announcement. Real estate is certainly strong in some Florida communities.
Mark

Re: World Record Price for Yenko Camaro?
 

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I just don't get this statement...translate please

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No reference to what you think real or imagined. Prior post did not even come to mind whenI typed that. 100K was a good round high number.Just looked at the new Mopar Muscle mag yesterday about ridicoulas car prices everyone thinking their car is worth 100K i.e. BJ prices.

Re: World Record Price for Yenko Camaro?
 

When the "money makers" got involved in the buying and selling of cars is when it got silly in the 90's. When something becomes a commodoty, to be bought and sold, is when the perspective of value is lost. If you are buying a car as a pure investment you are definitely taking on risk and with risk can come big gains or big losses. Just take a look at Ferrari prices in the 90's.

Here is a company that puts it all in perspective. They chart car prices to gain some sense of the history of the price trend:

TobinResearch.com/catalog/

Re: World Record Price for Yenko Camaro?
 

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how much of a dive did the prices of cars take...actual examples would be helpful.

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An example I remember was in Mopar Collectors Guide ( I think) was guy that bought a Hemi Roadrunner at auction for 40K and was offered 45K as he was loading it up on his trailer and one-two years later had it for sale for 25K with no offers.

Re: World Record Price for Yenko Camaro?
 

I see Tulips in some speculators futures!

Re: World Record Price for Yenko Camaro?
 

I think real estate is bound to level off and maybe decrease slightly in the near future. Why? The discretionary portion of salaries (for salaried emloyees) has been decreasing and will continue to do so. 2 big reasons, the cost of health insurance and the decline of social security. Employers can no longer affford to pay the full load of health insurance and are passing more of the cost to the employee. My company's increase this year was roughly 2x the average annual raise putting our employee at the same level of discretionary as 2 years ago. With large companies bailing on defined benefit pensions and SS failing, employees are becoming more and more responsible for thier own retirement savings. This also reduces discretionary spending. I know a lot of people on this board are self employed, but I'm sure a lot of have employees and have experienced the heath insurance dilemma. It seems that instead of anyone addressing the problem (health care too expensive) most are working on the symptom (how do we pay this, this year). I believe the majority of the US workforce are employees and therefore subject to these issues. Most people I know are running 2 income families to pay for their homes. I also have run across some 40 year mortgages. That cannot be good for the kids either because they sit in daycare 9 hours a day.
Thoughts?

Re: World Record Price for Yenko Camaro?
 

Thought are...it sucks... https://www.yenko.net/ubbthreads/imag...lins/beers.gif

Re: World Record Price for Yenko Camaro?
 

I think there is a lot of stresses on the real estate market today that we did not have in the past that is going to create a bubble in many areas.

Average equity levels have been decreasing every year. There is a rising trend of people who are upgrading to newer/larger homes coming in with lower equity levels than in the past in their old homes because they spent their equity on CARS, boats, vacations, CC debt etc.

There are more ARMS (40% of all loans today are ARMS)
When the rates go up 4-5 years from now people will have a hard time affording the extra payment. This is one reason they took the ARM over the fixed rate in the first place..they wanted their McMansion right away. (I'm not refering to flippers). Look at all the new loans out today that are ARMS with interest only payment.

Some say the appraisals done over the last 4-5 years will turn into a huge scandel itself that will make the S&amp;L banking fiasco look like childs play. Many appraisals were done that over infalted the homes worth so the people could get the loan and the lenders looked the other way. However when people try to sell they are going to find out their home is worth less than what they paid for it. Add on those 1110, 115 or 125% ditech loans above that and they really will be hurting.

Also, like one poster said above houses in one area went up 40% in one year. That means that proprty tax will be going up also. I don't know too many people that can take a hit like that year after year in property tax hikes without eventually bailing out and moving to a lower priced area.

Some may say I'm pessimistic but if you told people back in 1999 that tech stocks would loose 90% of their value in a few short months time they would have looked at you like you were nuts.

Re: World Record Price for Yenko Camaro?
 

It's the RE taxes that worry me...they never go away or go down !

Re: World Record Price for Yenko Camaro?
 

Ain't that the Truth..

Re: World Record Price for Yenko Camaro?
 

"It's the RE taxes that worry me...they never go away or go down ! "
Most of the propert tax goes to schools, where I live we are considered a sending district to a regional school. Long Beach Island is a beach community so most homes are summer homes owned by New Yorkers, North Jersians, and Pennsyltuckians so they get whacked royaly and get no benifit, they figured it is costing close to $40,000.00 grand a kid per year to send them to this school as there are only a few year round locals. They are finally wising up and considering using one of the local grade schools as a new high school, if that happens taxes will most likely go down. Property here has gone through the roof with little 50 x 100 ocean or bay front lots being sold in the millions if you can find one, even the worse locations on the main street 3 years ago that were selling for $150,000. are now million dollar tear downs.
Sam

Re: World Record Price for Yenko Camaro?
 

http://councilfor.cagw.org/site/Page...CCAGW_homepage

Check this out if you havent before, Im not a real political person but this is really getting bad...read this and you will be amazed how bad we are getting ripped off by our own congress. Check out the one foriegn pork add on that we as tax payers are forking out a million bucks to save a snake from Guam...We have also given Tiger Woods a 100,000 grand, like he really needs it...I registered and sent them 50.00 bucks for now which hopefully will save me thousands later on. Like I said, read it and you will be amazed, 700.00 for a toilet seat is nothing, I wish I could get 50.00 bucks for one...register and send this to as many people that you can, maybe we can make a difference...our kids and grandkids will thank us...
Sam

Re: World Record Price for Yenko Camaro?
 

Some people have more money then brains!!

500,000 for a gt 500e built buy unique sold at barrett thats not an investment its plain out retarted. There will always be people out there who have tons of money and want what they want...

Re: World Record Price for Yenko Camaro?
 

Back to cars....
This ad is a good thermometer to gauge the current thinking, and the quoted article clearly demonstrates it's the early '90s again! https://www.yenko.net/ubbthreads/imag...thumbsdown.gif
I wish the investors would stick to stocks and leave our hobby alone.
http://cgi.ebay.com/ebaymotors/ws/eBayIS...751813&amp;rd=1

And the car has a bunch of mistakes (besides the day-2 stuff)

Verne

Re: World Record Price for Yenko Camaro?
 

My answer about Florida, isn't that the state that can't figure out a voting machine!!!!! https://www.yenko.net/ubbthreads/imag...mlins/haha.gif https://www.yenko.net/ubbthreads/imag...mlins/haha.gif https://www.yenko.net/ubbthreads/imag...lins/beers.gif https://www.yenko.net/ubbthreads/imag...arleySucks.gif

Re: World Record Price for Yenko Camaro?
 

After reading DIE BROKE the author had a cool idea - Your kids will just fight over the money, so spend/enjoy it and "YOUR LAST CHECK SHOULD GO TO THE MORGUE AND IT SHOULD BOUNCE." https://www.yenko.net/ubbthreads/imag...arleySucks.gif

Re: World Record Price for Yenko Camaro?
 

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Prices average $30,000 to $50,000 now and should go up 30 to 40 percent this year, while a perfectly restored model could reach $100,000."

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If you had an investment (that did not cost you any money other than a little bit of insurance) that went up 30-40% per year why would you sell it?? To get a return of 3% on a CD or a stagnant stock market return??? Why does the owner not just keep the car another year and get another 30%...that way his reserve will be met.

Re: World Record Price for Yenko Camaro?
 

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...and "YOUR LAST CHECK SHOULD GO TO THE MORGUE AND IT SHOULD BOUNCE."

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I can't say as I'm crazy about THAT idea, Stu! https://www.yenko.net/ubbthreads/imag...mlins/grin.gif

Re: World Record Price for Yenko Camaro?
 

I believe the market today is different than the late 80's early 90's. The demographics now show baby boomers have created or inherited a tremendous amount of wealth. These are the same individuals who wish they had these cars 30 years ago. Now they do. To many, spending a 100K or more on a car is alot easier then spending 40K for that same car 15 years ago. The nest is emptying and they want to have some fun. I expect corrections now and then, just like anything. But a bubble bursting in these cars. Don't see it anytime soon. Just my opinion. https://www.yenko.net/ubbthreads/imag...mlins/wink.gif Patrick

Re: World Record Price for Yenko Camaro?
 

Patrick
I think you may be leaving out of the equation the love of the almighty dollar god comes first when prices drop vs hanging onto the car(s).

Re: World Record Price for Yenko Camaro?
 

Some people buy these cars because they love them, not to try to make money on, regardless of if you are talking high end cars or low end. Alot of buyers (including myself and many others here) could care less what they are "worth" or will be "worth" or have been "worth", they simply know what they want, and how much it costs to get it. The price is dictated by how many others want the same thing. Every day there are more people who want the same thing, and less to go around, so the price keeps going up. I know I have always wanted a Yenko, not because i have analyzed the market and predicted investment potential, or think that its a better investment than something else, etc. but just because I wanted one...I also watched the prices soar by 1000's each year I was trying to get one, as they are continuing to do as evidenced by this latest record breaking sale of the SCW rally green car. Everyone who spends money on a supercar isn't always an "investor", I know alot of folks simply want what they want because they like it, and they buy it because they can. Plain and simple.

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Well said Joe, same here https://www.yenko.net/ubbthreads/imag...iggthumpup.gif

Re: World Record Price for Yenko Camaro?
 

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Some people buy these cars because they love them

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I third that Joe. https://www.yenko.net/ubbthreads/imag...lins/beers.gif

Re: World Record Price for Yenko Camaro?
 

"After reading DIE BROKE the author had a cool idea - Your kids will just fight over the money, so spend/enjoy it and "YOUR LAST CHECK SHOULD GO TO THE MORGUE AND IT SHOULD BOUNCE."
Better yet, really piss your kids off and get buried in the car... https://www.yenko.net/ubbthreads/imag...ns/naughty.gif

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I just wonder if the same individuals that predict the car markets decline, had the infinite wisdom to predict its escalation. Again if you really like the cars, who cares just enjoy them.

As far as real estate investments go, I have been patiently waiting for the market to adjust and purchase some properties. Well I have been waiting for a decline (as the "experts" have been predicting) and all I foresee is growth and value increases.

Re: World Record Price for Yenko Camaro?
 

Joe,
I couldn't agree more. The "investors" are a VERY small minority of people buying these cars. Actually, I don't even consider them as part of "our" hobby. But I have to complain when a flurry of them "invade" us due to investment advice. Those few can artificially drive up prices by buying and selling among themsleves in a frenzy (they don't hold the cars for a long term gain - it's a quick turnover game for their kind) and as a result, "we" can get priced out of our own hobby in a hurry. They don't even have any understanding of the cars they buy. They're buying "commodities".

It reminds me of the people who walk up to you at a car show and the first thing they ask is, "what's this car worth"? My answer to that is, "A hell of a lot less than it would take to make me sell it"

Verne

Re: World Record Price for Yenko Camaro?
 

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and all I foresee is growth and value increases.

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Those are the very same exact words Ken Lay of ENRON said at the shareholders meeting telling people to buy ENRON stock while at the same time he was dumping his right before the collapse