I have also seen Mark's old GSX in person and it is an excellent car. As Mark indicated, a perfect car to buy and drive. Looks like someone did bid on the GSX on E-Bay. 1 bid only. Mark
Could someone explain to me why the value of the gsx cars are going down? They are still just as rare....in fact they are more rare than the first of this year. What is the deal here? Thanks
I don't think anyone is giving away their #'s matching (born with drivetrain) Stage 1 70 GSX cars. Especially the well taken care of, documented cars. The market softens from time to time. The best cars will still demand strong money as things pick up at some point. .02 cents. Patrick
I don't think anyone is giving away their #'s matching (born with drivetrain) Stage 1 70 GSX cars. Especially the well taken care of, documented cars. The market softens from time to time. The best cars will still demand strong money as things pick up at some point. .02 cents. This includes the 71 and 72 models. Patrick
Matt - To borrow a phrase from Ronald Reagan, simply put, it's trickle down economics. The down turn is not unique to GSX's, it's all across the board and I don't think we've seen the bottom of the market yet. The problems in the housing market and the subprime lending industry are causing a lot of belt tightening. Discretionary spending will continue to decrease for the next 18-24 months in my opinion. The bulk of my income comes from real estate, so I'm speaking from first-hand experience. I've had to pass on several cars that I would have grabbed a year or two ago. The problem is magnified here in Palm Beach where property values were increasing at unsustainable and unrealistic rates for several years, fueled by speculation. It was Nirvana for quite a while, but when the music stops and there's not enough end users to bail out the speculators, you have a glut of product, which triggers a crisis. Luckily, I can sit it out, but many people can't and the foreclosure rates are at record highs. Donny
So what youre saying is......buy now while its cheap and when the 18-24 months is up.....or how ever long it lasts, then sell and reap the benefits......from the looks of it and from what Ive seen, now is the time to buy stage 1s and gsx cars. Ive never seen them this low. You know they will eventually go back up and Im sure it will be sky high on the gsx cars. You agree Donny?
Do you guys think that the lack of documentation had a big role in this car only bringing 25k? The owner couldnt prove that it was real, so do you think that scared everyone away except for that one guy that bid?
Honestly Matt, I think the bottom is yet to come. I'm not professing profitting from someone else's misfortune, but I believe the real distress sales are just beginning. This is a prime example http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=200156221512 I don't know the seller's situation and this may not necessarily have been a distress sale, but we do know that this car could have sold for six figures 12 months ago. The toys always go first. Cash will be king for the next couple of years. Just my opinion. Donny
The lack of docs certainly played a part, but there were probably other factors at work here. The documentation issue can be resolved by Wayne Roberts or Sloan, so if it were the real deal, logic would lead you to believe that the seller would have his paperwork.
Yeah then it probably played a big part since he had none. Oh well, maybe it wont be as bad as you think........I hope not because I have a lot of old cars here and I like to think of them as a good investment o No:
The Seller was not a Buick guy and he had been living in the area where the GSX had been in storage for many years next to some Pontiac and Mopar muscle. He was there at the right time to catch the prior owner in the middle of restoring other muscle cars. He knew about the rarity of the GSX's and probably was enthused about all the prices in the last several years. Now, we all know about how well documented and original the top selling GSX's have been and this GSX in not in that league, but it does not stop someone happening on a good deal from 'flipping' the car. This GSX was in the hands of a non-Buick guy and probably helped finance the resto of his other preferred vehicles right into the hands of another non-Buick guy. When I say he was "at the right place at the right time", I mean literally because I learned there were others who had tried to buy this GSX from the good Doctor for many moons and thought there was an agreement in place that got usurped in one day.
Well, I may have made a mistake, but I just bought that GSX. I guess we'll find out if its the real deal or not......as soon as I get it home. The top bidder didnt go through, so I just jumped on it....literally about an hour ago. Im seriously considering leaving tonight with a trailer. Its looking like 14 hours from here. Ill keep everyone posted.
If it wasnt a chop job, my body shop can handle it because Ive been collecting parts for a long time. I just dont want a car that has had a gsx cowl put in it. Now Im getting scared.
Maybe that plus the fact that the car supposedly had a pretty rough previous life, and I am guessing that anyone who went to look at it or did some detective work discovered that. Certainly having the documentation would have been money well spent on the seller's part, but he made a quick buck so he is probably happy.
