1969 Z28 For Sale, Beware!

[Jerry@CHP]

Just wanted to let this forum know about a car listed for sale that may be suspect.  I was suppose to do an on-site inspection today on a '69 Z28 in New Jersey.  This trip had been planned for three weeks.  Last night I received an email from my client that the owner was NOT going to allow me to do an inspection on the car and had to buy the car without any inspection for I think, $55,000.00.  I am posting the vin here so enthusiasts will know to be careful.

9N576784, January build date.

Thanks,

Jerry

[69pace]

Thanks for the warning. Was it on eBay a while back too?

[restore-z28]

It's a buyers market right now and hopefully your client just moves on, not worth the hassle of dealing with a seller not willing to sell or trying to cover something up.

[Mike S]

The market bottom for old cars should just fall out and drive prices down to realistic values.
This will eliminate the fakes and/or efforts to produce them anymore.
This should hopefully restore some character instead of greed back into car collecting.

Just my 2 cents,

Mike

[automan]

But it costs a tremendous amount of money to restore a car as original or as a custom car.

[BULLITT65]

There are to many factors driving the prices up, baby boomers getting into the market, auction houses (mecum barret jackson), TV shows featuring build up of cars or finding them, as well as the finite amount of cars out there. At best the collector car market will level off, but as the dollar gets weaker people in general look for things to invest in to protect their savings against inflation, I don't see the collector car market tanking anytime soon.... JMHO
 I also agree with automan which is another reason it will not bottom out.

[rich69rs]

But it costs a tremendous amount of money to restore a car as original or as a custom car.

The vast majority of the time, restoring a classic ride as an investment (unless it is truely rare or special) won't pan out.  There are many investment options that you can consider to place those $$$ in and have the potential to bring you a higher rate of return on your investment - if that is what you are trying to do.

IMO, you restore the car because you like it, it appeals to you, whatever.  Restore what you like and like what you restore - keep the value part of the proposition as a secondary motivation.

Regarding the car that Jerry mentioned above selling for $55K, for the seller to make a "reasonable" return on his investment, he can't have more than about $30-35K total cost in the car.

[BULLITT65]

$30-35k is speculation without knowing any details about the car. A real Z/28 vs Clone vs originality vs restored. There are many factors to consider. I wouldn't be able to go out on a limb and say the average nice 69 Z is worth 55k. Additionally, when it comes to return on investment, are we talking about flipping it right away or hedging your bets against the dollar .....

[68camaroz28]

For me no use trying to speculate on the car, but thanks Jerry for communicating a genuine concern.

[DT]

For me no use trying to speculate on the car, but thanks Jerry for communicating a genuine concern.

X2, who knows what the story is??

[Everett#2390]

X2, who knows what the story is??

Speaking of Baby Boomers, 'The Shadow' knows......