Re: [AMC-list] AMC values?

[Marc Montoni <Freedom@xxxxxxxx>]

MHD wrote:


>>I have found out its sort of disappointing. I invested 5yrs and almost 
>>$30,000 into restoring a 390 4spd AMX the NADA said $35,000 high end 
>>and $28,000 low end. I drove it for 2 summer's trying to sell it and 
>>finally had to give it away yesterday for just over $18,000! 
>>
>>That makes the 5th American Motors product I have restored here at JSM 
>>auto, I am convinced it will be the last ones too. 3 AMX's, 2 
>>Rambler's, and 1 Eagle coupe all 5 were money losers. 
>>
>>They were cheap to buy, Took the most money to restore, and were the 
>>hardest thing to ever sell. So I have done my part I saved 5 but NO more.
>>
>>AMC's are worthless value wise!


NADA prices come from dealers and auctions.  Older cars that sell through dealers, are primarily to customers who are either older and are funded by equity lines (which have dried up a lot since NADA has updated its database of prices), or to customers who are trust fund babies.

NADA has never represented the real world.  Anyone who looks in there for values is looking for trouble.

The only way to see realistic prices is to start looking through ebay "completed listings".  You will see *most* of them are no-sales.  This is primarily because sellers see those inflated NADA prices and think they have a gold mine in the rusted-ass pile of crap behind the shed.

I have seen several instances of a particular car being repeatedly listed on ebay, with the reserve being reduced each time until the car sells for a reasonable amount of money.  They *always* start with a pie-in-the-sky price.  A year or two later, they finally face reality and ask a legitimate price.

One *can* get an idea of values based on reality: by asking the hobbyists who have been driving the cars for twenty years and who aren't in it to make money.

95% of the iron out there is not a money-making proposition.  It's all brands, not just AMC.  I have a neighbor who has about $60k into a Corvette that is worth half that.  He isn't get into it to make money -- he drives it to work every day and it makes him happy.

This is why I make fun of these guys who think their clapped-out, rusted, busted sedan is worth $2500 when it's really just worth maybe $400.

http://www.amcyclopedia.org/node/6680

Sorry if your experience with AMC resto was negative.  I restore my cars to drive, rather than re-sell.

Best wishes.



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MARC MONTONI * PO Box 864 * Dayton VA  22821-0864 * 804-592-6066
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