TwinTurbo.NET: Nissan 300ZX forum - Look we all want it to be true, but here is reality
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Subject Look we all want it to be true, but here is reality
     
Posted by LJZTT on January 13, 2020 at 1:04 PM
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In Reply To Re: So you say they are not rising - then provide a link to a posted by BlitZ91TT on January 13, 2020 at 12:00 PM
     
Message First off, Hagerty doesn't sell cars. I don't know where they got their data from for their nice graph (and honestly I'd like to know, as I would love to get into the Z32-flipping game), but I have seen extremely dubious and completely flawed so-called market research done at companies I have worked for that should have known better, and it is far more likely this is material for some article/blogpost that Hagerty assigned to an intern, and they have a vested interest in it being beneficial to Hagerty. Higher values = higher premiums.
Having shopped between Hagerty and Grundy, Hagerty is not competitive. This is not a my-team-is-better-than-the-other-team, RA RA Grundy! statement, it is simple matter of fact. I would have a Hagerty policy if the opposite were true.

Everyone agrees and understands that CONCOURSE, aka unicorn status, aka super-low mileage preserved/restored, Z32s are fetching high sale prices.....up into $40k range. These cars are TRULY MINT, or as close as possible, not the typical craigslist "mint". The SALES data supports it. Even then, some examples are selling short of this $ amount.

This honestly doesn't mean anything as it applies to likely no more than dozens of cars in existence out of 80k+. If you don't already own one, then you are not going to be in that game, period.

Additionally, a car that sold for 45-55k when NEW in 1995/1996 and still sells for 30k-40k range after all this time and only a few thousand miles, has not appreciated at all. You don't get to "factor in inflation" to claim it has. If this were the case, then my new-in-box OEM shocks should be "worth" thousands. They aren't because it isn't the case.

Now we get the "excellent condition" specimens. BaT does not accept listings for cars that belong on craigslist, so it is reasonable to say that all the 300ZX's on BaT are either in TRUE "excellent" condition or in TRUE "very good" condition, with possibly onesy-twosy that slipped through (and sold for nothing they could not have gotten on autotrader for much less listing cost).

BaT clearly shows not only what prices buyers are ACTUALLY PAYING, but also what buyers are actually WALKING AWAY FROM.
And where is the data plot? It is almost entirely contained below $21k apart from 2 examples. That is exactly where prices have been for 10+ years.

I bought a 94TT with 70k, modified to roughly "stage 3", in excellent condition, with easily $2k in new and used OEM and aftermarket parts for $14k in 2005. According to you, such a car is a $19k, deal now?? Try $9k-12k tops with some luck. If your viewpoint was true, then why isn't BaT flooded with Z32's? It is certainly flooded with 240Z's and P-cars.


SO...
With all that being said, when you are talking about cars that the overwhelming majority of which are being sold below the $15k mark, 20%-30% variance in prices between specimens is not at all uncommon, much less indicative of any actual broader market trend. Not in the least.
Why else do you think used car sales is such a lucrative business??

Honestly not trying to burst your bubble, but lets not publicly push falsehoods to people who may go out and waste their hard-earned wages believing wishful thinking. Hagerty has a vested interest in making folks believe it.

In my opinion, if i may shamelessly suck up to the site residents for a moment, what always set TTnet apart from the rest of the car sites out there was that I could trust the majority of info I got here, versus the opposite being true for just about every other forum I frequented. This site alone makes Z32 owners among the most informed possible with respect to their car. You can be part of that, rather than just going with what everyone else does and refusing to accept reality.

30 years ago...or now?

"I torch my soul to show the world that I am pure deep inside my heart...."
--William Patrick Corgan

     
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