In this article on classiccars.com the main point is that RM Auction’s fall sale at Auburn, Indiana saw a 23.5% decrease in gross sales compared to last year’s auction. That was true even though 90 percent of the lots offered this year were sold. Gord Duff, global head of auctions for RM Sotheby’s Group said, “…we’ve witnessed a softening in the collector car market in 2019…”
Is the general softening of “high-end” markets a signal of anything? No one really knows. It could, of course, mean that we might be about to enter a good period to buy collector cars if one has the means to do so.
Comments by 56packardman, David Banner and others inspired the topic for the return of Frugal Friday. 56packardman wrote, “To underscore your point about the basic value a Corvette represents vs. an ‘exotic’ like a Ferrari, at the Bring-a-Trailer website, I routinely see Ferraris listed for sale there that have among their records maintenance receipts for $30,xxx of engine work, etc., often on very low-mileage cars.” (By the way, please read the comments as they add much to this blog.)
Instead of looking for Corvettes available for less than $30,000—the amount mentioned in regards to the cost of Ferrari engine work—I decided to be more specific and look for 2008-2010 Corvettes (C6 generation) that had fewer than 30,000 miles AND were listed for less than $27,000, 90% of the “Ferrari repair” cost. Hey, I’m an idiosyncratic guy. What can I say?
From autotrader.com comes this car:
This 2009 Corvette is in Yellow over Black and is listed for $24,800. It has about 23,000 miles. The price might be a little misleading because the ad copy contained this disclaimer, “**Must qualify for all rebates to receive final pricing.**” The ad also contained this humorous bit, “Load your family into the 2009 Chevrolet Corvette!” Uh, a Corvette only has two seats…
A base 2009 Corvette was powered by a 6.2 liter/376 cubic-inch V-8 that produced 430 HP/425 LB-FT of torque. That’s a lot of oomph (an automotive technical term) for less than $25,000.
From cargurus.com comes this car:
This is a 2008 Corvette in Red over Black that has fewer than 12,000 miles and is listed for $25,995. CarGurus rates this as a “Good Deal.”
Life is short; enjoy yourself, within “reason.”
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