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Author Topic: Value  (Read 4861 times)

Offline Dlynn78

  • Posts: 2
  • Name: Dominic Lynn
Value
« on: October 31, 2013, 12:45:00 AM »
If the economy changes in the future, could Cadillac's from the 1970's be as valuable as ones from the 1950's?

Offline The Tassie Devil(le)

  • Administrator
  • Posts: 12400
  • CLC Number: 18992
  • Name: Bruce Reynolds
Re: Value
« Reply #1 on: October 31, 2013, 01:27:20 AM »
From where I sit, the value of anything will fluctuate over time.

Older cars will lose their value as people that appreciate them pass away, and younger people lose interest in them.

The later cars will appreciate in value as people will want to drive and enjoy them, BUT, really newer cars will almost become worthless as these vehicles are so mass-produced, and due to their complexity, become impossible to restore.

As Plastic degrade, and computer-controlled electronics corrode away, the future for them is not good.

As for Cadillacs of the '70's, these will, in my opinion, increase in value, as a lot of them were sold off as scrap, due to their excess mass, and the value of scrap iron went through the roof.   Those that are left, should be still in reasonable condition, and easier to maintain, and drive.

I have been around cars for years, and from what I see, in most cases, it is the offspring of original owners that appreciate the cars of the era that their parents drove, as that is their first good memories.   That is why there is a great movement to the imported cars, as these cars were all that their parents could afford.

Bruce. >:D
'72 Eldorado Convertible (LHD)
'70 Ranchero Squire (RHD)
'74 Chris Craft Gull Wing (SH)
'02 VX Series II Holden Commodore SS Sedan
(Past President Modified Chapter)

Past Cars of significance - to me
1935 Ford 3 Window Coupe
1936 Ford 5 Window Coupe
1937 Chevrolet Sports Coupe
1955 Chevrolet Convertible
1959 Ford Fairlane Ranch Wagon
1960 Cadillac CDV
1972 Cadillac Eldorado Coupe

Offline C.R. Patton II

  • 1939 LaSalle C4D
  • Posts: 1209
  • Motor City, Saguaro, Socal & Switzerland
Re: Value
« Reply #2 on: October 31, 2013, 08:29:22 AM »


Hello Dominic

You pose an interesting question. I concur with Bruce.

The formula I use is rare premium low mileage automobiles in great condition will increase in value.
All good men own a Cadillac but great gentlemen drive a LaSalle. That is the consequence of success.

Offline Two Crabs

  • Posts: 102
  • Name: D. Rich
Re: Value
« Reply #3 on: October 31, 2013, 08:50:03 AM »
My 1966 Chevelle SS is an example of how fast a collector cars value can fall.
10 years ago these we're bringing upwards of $60-70,000.

Then the crash and now a substantial number of people who owned these cars as youngsters and went to the drive in on a date and all that happened there, have passed on. The market has now dropped to the low $15-20's.

I believe that the collector car hobby is generational and as that generation passes on that segment of that generation of cars dies with them.

Two Crabs
1973 Eldorado Convertible

Offline Eric DeVirgilis CLC# 8621

  • Posts: 7038
  • Name: Eric DeVirgilis
Re: Value
« Reply #4 on: October 31, 2013, 09:38:17 AM »
Barring the unforseeable - there will always be demand for top grade pristine originals - thus ensuring future appreciation - regardless of year, make or model. 

Higher '50s vs '70s collectibility/values is due to a number of factors in my view:

Styling.

'50s (particularly late '50s) represent the utmost in postwar decadence of American automotive styling. The period is a very finite one - limited to several years or so. The age is - and will continue to be - an era that will remain a subject of fascination to historians - both automotive and of American culture at large. It's gone for good and will never be repeated. Cars such as the 57/58 Bonneville, '59 Cadillac convertible, '58 Buick Limited & others - will be the Dusenbergs of the future.

Obsolescence.

'50s cars rapidly became outdated - perhaps faster than any other single era transitioning from one to the next: If you owned a '50s car in the '60s, everybody knew it. This usually translates to increased depletion since the values became small in relation to maintenence and running costs. Survival rate is worsened as a result.

Production.

Output in the American auto industry grew dramatically in the 1970s. The result is a relatively large quantity of '70s material which more easily satisfies demand, which in turn is detrimental to value. Reduction of styling individuality, governmental regulations and its resulting damaging effects on overall quality - also played a significant role - as uniqueness is one of the cornerstones in the field of collectability.

That said, the very finest examples will almost always be prized among the most serious car collectors - regardless of decade from which they hail.

**Welcome to the CLC Forum Domimic.
« Last Edit: October 31, 2013, 10:56:13 AM by ericdev »
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

Offline Richardonly

  • Posts: 532
  • 1948 Cadillac Fleetwood
  • CLC Number: 26895
  • Name: Richard V. Pattison
Re: Value
« Reply #5 on: October 31, 2013, 09:54:56 AM »
Most of what I have read, I agree with.

On the other side of the coin, from what I have read, there should be little interest in Cadillacs (or any brand) from the 20s, 30s and 40s at this point.  This I disagree with.

Put a 1939 Cadillac in a field surrounded by cars of the 70s and see if it doesn't get its share of attention?  What say you?

Regards, Richard
1948 Cadillac Fleetwood 60S
1995 Lincoln Towncar, Signature Series
1995 Jaguar XJ6
2001 Chrysler Sebring Convertible
1986 Yamaha 700 Maxim X motorcycle

Offline Dan LeBlanc

  • Posts: 4813
  • Name: Dan LeBlanc
Re: Value
« Reply #6 on: October 31, 2013, 10:17:54 AM »
Barring the unforseeable - there will always be demand for top grade pristine originals - thus ensuring future appreciation - regardless of year, make or model. 

Higher '50s vs '70s collectibility/values is due to a number of factors in my view:

Styling.

'50s (particularly late '50s) represented the utmost in postwar decadence of American automotive styling. The period is a very finite one - limited to several years or so. The age is - and will continue to be - an era that will remain a subject of fascination to historians - both automotive and of American culture at large. It's gone for good and will never be repeated. Cars such as the 57/58 Bonneville, '59 Cadillac convertible, '58 Buick Limited & others - will be the Dusenbergs of the future.

Obsolescence.

'50s cars rapidly became outdated - perhaps faster than any other single era: If you owned a '50s car in the '60s, everybody knew it. This usually translates to increased depletion since the values became small in relation to maintenence and running costs. Survival rate is worsened as a result.

Production.

Output in the American auto industry grew dramatically in the 1970s. The result is a relatively large quantity of '70s material which more easily satisfies demand, which in turn is detrimental to value. Reduction of styling individuality, governmental regulations and its resulting damaging effects on overall quality - also played a significant role - as uniqueness is one of the cornerstones in the field of collectability.

That said, the very finest examples will almost always be prized among the most serious car collectors - regardless of decade from which they hail.

**Welcome to the CLC Forum Domimic.

Welcome to the forum Dominic.  The only advice I can give is to listen to what Eric has to say very carefully.  He has been around Cadillacs and cars in general his whole life and knows what he's talking about and is usually pretty spot on in this area.
Dan LeBlanc
1977 Lincoln Continental Town Car

Offline Eric DeVirgilis CLC# 8621

  • Posts: 7038
  • Name: Eric DeVirgilis
Re: Value
« Reply #7 on: October 31, 2013, 10:44:38 AM »
Most of what I have read, I agree with.

On the other side of the coin, from what I have read, there should be little interest in Cadillacs (or any brand) from the 20s, 30s and 40s at this point.  This I disagree with.

Put a 1939 Cadillac in a field surrounded by cars of the 70s and see if it doesn't get its share of attention?  What say you?

Regards, Richard

The trouble with some automotive journalism is that there are simply too many generalities.

From where I stand the only "journalism" worth following in that regard is the final verdict of the marketplace - which is all that matters in the final analysis.
« Last Edit: October 31, 2013, 10:58:53 AM by ericdev »
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

Offline Gene Beaird

  • Posts: 1069
  • Name: Gene Beaird
Re: Value
« Reply #8 on: October 31, 2013, 11:26:54 AM »
If the economy changes in the future, could Cadillac's from the 1970's be as valuable as ones from the 1950's?

Well, except for the fact that Cadillacs from the '50's will probably worth MORE in the future, I do think Cadillacs from the '70's will appreciate with time.  They already are, but as with '50's models, it depends on particular year, model and options.  Depending on those three variables, you may actually end up with a Cadillac built in the 1970s having value parity with one build in the 1950s, but on average, the '70's models will probably always trail the value of the '50's models primarily because of differences in the available inventory between the two. 

Gene Beaird,
1968 Calais
1979 Seville
Pearland, Texas
CLC Member No. 29873

Offline Two Crabs

  • Posts: 102
  • Name: D. Rich
Re: Value
« Reply #9 on: October 31, 2013, 11:31:49 AM »
I agree with Richards observations on the older Cadillacs or any collectable cars for that matter. My point is that the pool of buyers, enthusiasts or collectors shrinks for that generation of cars as time goes by.
Two Crabs
1973 Eldorado Convertible

Offline Eric DeVirgilis CLC# 8621

  • Posts: 7038
  • Name: Eric DeVirgilis
Re: Value
« Reply #10 on: October 31, 2013, 11:53:47 AM »
I agree with Richards observations on the older Cadillacs or any collectable cars for that matter. My point is that the pool of buyers, enthusiasts or collectors shrinks for that generation of cars as time goes by.

*I think Richard indicated disagreement with prognoses he's read.

If the trends the old car hobby & related industries over the last several decades is any indication, I don't see a major decline in the forseeable future.

Increased global wealth makes such a scenario all the more unlikely in my view. 
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

joeceretti

  • Guest
Re: Value
« Reply #11 on: October 31, 2013, 12:29:54 PM »
Just jumping in here with a quick point. I don't remember my father having anything but 70's and 80's cars. Yet I, and all my friends, have a fondness for vintage autos. People of all ages go all gaga eyed over my 38. Even more so when they hear it's a Cadillac.

Wait until the newly rich Chinese billions find out that they can get antique American cars on the cheap, so to speak. What I mean is, globalization is spreading the wealth.

Offline Eric DeVirgilis CLC# 8621

  • Posts: 7038
  • Name: Eric DeVirgilis
Re: Value
« Reply #12 on: October 31, 2013, 12:52:02 PM »
Correct.

Two key factors:

Gobal wealth.

Overseas vintage American car starvation: More demand from foreign than domestic interest.

Trillions in new wealth has to land somewhere - and a big portion of it ultimately lands on toys. Cars arguably being the ultimate toys - with prime vintage being the ultimate of ultimate.

Just a bit of an anecdote:

I just sold a mint 1980 Coupe deVille at Hershey. Serious buyers were foreigners; scant interest from Americans. Familiarity breeds contempt.

Car went to Brazil. 
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

Offline Dan LeBlanc

  • Posts: 4813
  • Name: Dan LeBlanc
Re: Value
« Reply #13 on: October 31, 2013, 01:07:46 PM »
The car Eric sold, for those of you who didn't see it, was about as factory fresh as they get
Dan LeBlanc
1977 Lincoln Continental Town Car

Offline Dlynn78

  • Posts: 2
  • Name: Dominic Lynn
Re: Value
« Reply #14 on: October 31, 2013, 01:30:13 PM »
Yeah, my father always owned Cadillac's and I grew up around them, I remember the spokes from crawling around the driveway. ;D

Offline Eric DeVirgilis CLC# 8621

  • Posts: 7038
  • Name: Eric DeVirgilis
Re: Value
« Reply #15 on: October 31, 2013, 01:56:17 PM »
The car Eric sold, for those of you who didn't see it, was about as factory fresh as they get

Thanks Dan.

I miss it already.
« Last Edit: October 31, 2013, 01:58:37 PM by ericdev »
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

Offline Dan LeBlanc

  • Posts: 4813
  • Name: Dan LeBlanc
Re: Value
« Reply #16 on: October 31, 2013, 05:25:28 PM »
It was beautiful. Absolutely loved that blue.
Dan LeBlanc
1977 Lincoln Continental Town Car

Offline Jim Salmi #21340

  • Posts: 161
Re: Value
« Reply #17 on: November 04, 2013, 11:53:32 AM »
Early '70s models may not catch up in total price with cars from the '50s, but you are starting from a much lower investment outlay.  The law of large numbers begins taking over, and it's easier for me to imagine a $15k car effortlessly going to $30k than a $200k car going to $400k.  Sooner or later there just aren't enough California real estate developers and mortgage brokers to support the market.

The nice thing about late '60s and early '70s Cads is that they have more modern creature comforts that the earlier "classics" lacked, like A/C, power accessories and the like, while still offering Cadillac styling cues we've come to love.  Not excessively Naderized yet, and not burdened with the balky technological quirks that they started getting in the '80s.  They are a good compromise, IMHO.
1952 Cadillac Series 62 Sedan

Offline 4860S

  • Posts: 32
  • Name: John Slater
Re: Value
« Reply #18 on: November 13, 2013, 08:04:12 PM »
I see this a little differently.

I see a number of factors at work in this, most of which have all been touched on, including:

Generational - ie the 8 - 15 years olds of a certain period tend to want to buy in their 30s + what they lusted after when they were kids
Family - what Dad etc., owned
Rarity - One of the most important drivers of potential capital appreciation
Styling/engineering - whatever it is in one or more of these categories to make someone, in addition to the above, want one?
Ease of use - this is an issue for most cars prior to WW2
Parts availability - not much fun if you cant fix it
And finally market/economic cycles

By way of example, I find it difficult to imagine any significant - inflation aside - capital upside in 70s Cadillacs. They might rank strongly in the first two categories and parts availability but outside of this I cant think of any particularly compelling price drivers. This doesn't mean they aren't good cars, though.

My two cents worth.
John

Offline Eric DeVirgilis CLC# 8621

  • Posts: 7038
  • Name: Eric DeVirgilis
Re: Value
« Reply #19 on: November 15, 2013, 09:44:29 AM »
By way of example, I find it difficult to imagine any significant - inflation aside - capital upside in 70s Cadillacs. They might rank strongly in the first two categories and parts availability but outside of this I cant think of any particularly compelling price drivers. This doesn't mean they aren't good cars, though.

Many once had very similar feelings about 1950s iron too, difficult as it is to believe in the present day.

I will concede however that in order for most any '70s vehicle to have good appreciation potential, pristine original condition is absolutely manditory.
A Cadillac Motorcar is a Possession for which there is no Acceptable Substitute

 

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