I see people asking high prices, what are they really getting?
Seems to be the question of the year! I've been decently immersed for the past few months.
My thumbnail sketch, open for debate:
Really unfinished/unloved cars hover at
high teens to low 20's. Tales of rust, sketchy history and inauthenticity shroud these cars. Condition 4 or 4-.
Seen some at
20-25k, needing attention most everywhere, but certainly drivable, presentable. Tend to be Condition 3 or 3- cars.
The
25-30k cars are abundant, middle of the pack price wise, but needing less overall attention. Drivers, solid 3 cars.
30-35k are getting nicer, cleaner, better paper trail, more knowledgable owners, dated but not unwound restorations. 2- condition.
Big jump to the
40-50k cars that sit on the market a while. Seem to have had lots spent on them, passionate redos, but people look at 50grand WAY differently now than before. Hard to 'play' with that money with college bills, mortgages, and other serious things looming. The higher dollar cars are (to me) almost always worth it since it can take way more than the difference to bring a 25k car to this level, in both time AND money. These are the 2 to 1- cars.
There are of course cars done to absolute perfection, detailed undersides better than Rootes ever imagined that set their own
prices north of this range. Again, can easily be worth it to get a #1 car, but for some of us, the 'work' (and your definition of it) is part of the attraction. These cars don't need anything but gas and a destination.
Seems all the above can trigger a
15-20% bump if a Mk II.
Would appreciate others chiming in, as I'm more a recent student, hardly an authority. Totally accepting of differing opinions.