Avanti Values?

[mfg]

Loooong story short:

1) Do your homework

and…

2) Keep in mind the old adage….

’There’s nothing more expensive than a cheap Avanti!!’

[Bob Preston]

2 hours ago, aardvark said:

You can easily get hosed if walking into a deal with an emotional bent and a "Gotta have it!" attitude.

Definitely. For someone who has to have the car, or is willing and able to spend without limits just for the sake of a restoration, none of the above applies. 
 

I have copies of receipts for the work performed on one of the vehicles I considered that total about $35K and that work was done 12-13 years ago. The 2 big ticket items were new paint and an engine rebuild. The paint was good, but far from flawless and there were a number of other issues that needed to be addressed, at least at the price point.

On another one the seller claimed to have receipts totaling $57K which included an engine rebuild and new paint in a non-original color, also about 12 years ago. For me, a repaint in anything other than the original color gets a substantial reduction in value, even if it’s a flawless paint job. It does create a unique and personalized car, however, I believe radical modifications can limit the number of potential buyers, regardless of how cool they may be. In this case, I discussed with the seller that the price was appropriate for that car with the correct color paint, which to me meant that it would need to be repainted in order to achieve that value. I offered just $3500 less than the asking price (much less than the cost of a quality paint job) but that was $1500 below the lowest price they were willing to accept. I wouldn’t come up because there would have been added expenses in a trip to see the car and have it transported. The color was the dealbreaker. The car was inherited and had mostly sat in storage for the past 12+ years. Now it continues to sit due to an emotional attachment. 
 

This, of course, touches on the sellers perspective. If there’s an emotional or sentimental connection for the seller they may want to reconsider the idea of listing the car for sale. 

[mfg]

I really enjoy driving my 1963 supercharged Avanti in nice weather, and occasionally enjoying a ‘cruise in’ type show.

I’ve met the nicest people over the years!

[aardvark]

 

Bob

I never could run on emotions for a purchase. Financially it was never possible and IF I did that, I couldn't afford to be in this Hobby/ profession (however You view it). I have to approach a deal as having a 50% profit margin or the deal is dead... Why?...I know there will be some repairs and modifications needed  IF I can't buy with a profit margin, I can't continue on buying the next one... You see. me selling off at a profit  is paramount to me continuing.

Current history is a 928 Porsche bought for $16k... a '63, R2 Avanti at $16k...a '02' Avanti for $19k. All are wonderful;l examples and are (as You call them) good drive, low mileage cars in near excellent  condition. I have 2 other VW purchases as well. So at present a few things are up for sale to re-coup my losses as well as pump up the $$ stockpile.

I'm far from wealthy and live on Soc Sec'y with a few side incomes..None of this would be possible if I went in to this venture with financial losses, a infatuation of a brand or needing multi $$$ restorations. These MUST profit or I'm financially dead in the water.

For those of You in different financial states, Carry on. Generally it's folks who are not burdened with finances that are my sellers.

 

MFG. 

We've been thru this before but my stance is that of a Business Model as well as a Hobbyist.. They can run synergistically.

Edited 15 hours ago by aardvark

[mfg]

6 hours ago, aardvark said:

 

 

MFG. 

We've been thru this before but my stance is that of a Business Model as well as a Hobbyist.. They can run synergistically.

Well, I hope you reach your financial goals… I never knew any hobbyist that had to so strongly consider the present and future financial aspects of purchasing in Avanti. (other than automotive repair shop or body shop owners)

However, any way a person can achieve their goal of Avanti ownership is a good way I guess. (Other than stealing one!!!)

More power to you, Good luck & Happy New Year!

[aardvark]

MFG

As. said in multiple ... this is a Hobby and Business at the same time. Every deal I've made on vehicles I meet the sellers expectations so there is never a hard feeling finishing the deals. No Stealing..IF that's the implication,... (In fact the '02' Avanti I gave the seller full asking price) The purchase numbers are real and the profits are already in place ''at time of purchase''. What I'm seeing is these values have escalated over the 2 years I've owned the 3 vehicles I listed (above). So I'm better than my 50% goal on the profit margin.

You see, the upside is I get to own and drive these beauties without fear of financial losses. That, my Friend is  Goal. #1... Goal #2 is I eventually move on and profit well.

(Got the Porsche and a VW up ''for sale'' now to possibly cover the Avanti purchases and then all is well on my financial front.)

Edited 2 hours ago by aardvark

[mfg]

It would kill the enjoyment of owning my cars if I had to bank on that they would  increase in value…..

I mean, it certainly is nice if a profit is made when a car is sold, but most experienced car collectors know their lucky if they break even.. and generally they lose a few bucks on the deal….

That’s just the nature of the animal aardvark…. Anyone DEPENDING their collector car’s value will go up may as well roll the dice in the stock market.

[Bob Preston]

2 hours ago, aardvark said:

So I'm better than my 50% goal on the profit margin.

You’re siting on unrealized gains. Of course, those “gains” are based on values that you have placed on the vehicles. Frankly, if I were engaged in a hobby/business where profitable sales were essential, I’d be selling as much as possible at 10%, 50% or 200% profit. Doing so could put you in a position where profit is no longer a factor. 
 

No disrespect, but you present yourself as someone who is the equivalent of “real estate poor”. You have a lot tied up in vehicles, your cash reserves are down and you can’t buy another car unless you sell one or two. That’s the message I’m getting, maybe I’ve misinterpreted what’s been said. 
 

You also seem to be trying to time the market, which rarely if ever yields positive results. My advice, take the profits. Rinse and repeat.