C2 parts prices: Is this a rich man's hobby?

[Wayne M.]

Re: C2 parts prices: Is this a rich man's hobby?

Agh Wayne......you'll remember collectables usually run in the opposite direction of the stock market.......people like tangible things instead of paper and promises in the worst of times Bob

Hi Bob -- on eBay I follow mostly C2 parts and cars, with special interest in '65's.

I should have added the following observation to my original post: that while parts prices continue to escalate (especially over the last 6 months), the corresponding prices of C2 Corvettes are edging lower, especially noticeable in the "decent driver" and "project" categories. The cars with all the ribbons have just been pulled off the market.

Not sure I understand the cars vs. parts mechanism here.

[Joe L.]

Re: C2 parts prices: Is this a rich man's hobby?

I saw this coming 40 years ago. So, to date, I've accumulated slightly more than 14,500 NOS parts to support my cars so I'd not be at "scalpers'" mercy "at some time in the future".

[Steven B.]

Re: C2 parts prices: Is this a rich man's hobby?

I wanted to add a little perspective from a person who has sold about $250K worth of original used, restored, and NOS parts on eBay, since November of 2001. I recently started the TDB thread about how eBay is changing to paperless payment beginning in late October (no more checks or money order payment allowed).
I retired from my real job early in 2005, and decided that I would merge my love for attending swap meets, and attending business liquidations, with listing un-needed parts on eBay. I would name my eBay user id here, but a few months ago I mentioned in a TDB post that I had recently offered a car for sale on eBay, and one of the more senior members of this club objected to moderators that I was mentioning "for sale" items, and the thread was deleted, so I will not mention the eBay user id. Trust me in saying I have quite a bit of experience in selling C1, C2, and C3 parts.

Now a word about "eBay pricing". I mark the parts up 25% over my initial purchase price to offset the average travel expense I have of roughly $15K per year (fuel and hotel expenses) to attend the swap meets, and pay the eBay listing, and sales commissions, that average 5% per transaction. MY minimum opening bid price usually reflects this 25% mark-up. Roughly 70% of my successful auctions go off at the minimum opening bid amount.

Ridge, if you go to Pate next year let me know. Lunch is on me!

Steve

[Grant M.]

Re: C2 parts prices: Is this a rich man's hobby?

Clem,

An interesting observation about professional versus 'hobbyist' type restorers that I whole-heartedly agree with, but it's not really applicable to NCRS judging where the car is assessed against a standard versus against other cars. In other types of 'competition' type judging (concours d'elegance and the like), the professional versus hobbyist contrast really comes to light. In my earliest days of interest in Corvettes (before I actually owned one), I recall reading an article in one of the Corvette magazines (CF or Vette) describing an annual McDorman's Corvette show with competitive judging, the grand prize for which was a new Corvette (this was in the late 1970's, I think). The article related the story of the apparent winners (the names were Munzer and Williams I think) and their preparation of a 1963 coupe. From the photos accompanying the article, it was clear that these were not "pros", since the work was being done in a residential neighbourhood driveway, not a well-equipped shop.

Some years later I thought back on this article as I walked around the NCRS Winter Meet at Cypress Gardens, where I met a friendly gentleman sitting beside an immaculate (as far as I knew!) 71 LT-1 coupe. I complimented him on the condition of the car and asked him if he had restored it himself and he said he'd "had it restored" and went on to say that he'd spent over $15K having it restored. He also owned one or two other Corvettes and a couple of fifties T-Birds, so money probably wasn't an issue.

It didn't really sink in until sometime later, but I came to wonder what real pleasure/pride can be derived from earning recognition (in the form of awards etc), simply for the size of your bank account? I guess it's no different than the owner of a racehorse or a NASCAR team/car, where you really haven't been involved in achieving the ultimate outcome, except to pay for it--not that paying for it isn't essential, but where's the pride in that?

My car will never earn a Top Flight (too many non-original things to correct, like the engine block), but everything done to it with the exception of internally rebuilding the engine and installing the convertible top and seat covers, I did myself or with a little help from friends. Although I haven't had a single minute's worth of mechanical training, I can read the Assembly Manual and Service Manuals and these cars weren't assembled by rocket scientists. So as imperfect as it is and likely always will be, I take (personal) pride in the occasional compliment my car garners--because it's mostly a reflection of MY efforts, not someone elses. Besides, from my perspective, as long and tough a job as auto restoration can be, hitting the inevitable 'wall' but hopefully only on occasion, the real fun is in the doing...

Not to slam anyone with deeper pockets than mine or too busy to do the work yourself, but I really think you're missing out on some of the 'fun'. JMHO,

grant

[Ridge K.]

Re: C2 parts prices: Is this a rich man's hobby?

Steve, we've got a deal. I haven't missed a single Pate since they first moved to Texas Motor Speedway. My first year, I bought a pickup load of parts. Last year, just found a couple of Corvette parts, priced right. Ridge.

[Steven S.]

Re: C2 parts prices: Is this a rich man's hobby?

Not to slam anyone with deeper pockets than mine or too busy to do the work yourself, but I really think you're missing out on some of the 'fun'. JMHO,

grant

Amen, there is a place for the plating/overspray/crayon marking/paint texture perfect type restorations, and I appreciate them and the hobby needs them, but I myself would never look down on one done DIY style that is far more practical for the do it yourself'er.

[Bill M.]

Re: C2 parts prices: Is this a rich man's hobby?

Clem,

In my earliest days of interest in Corvettes (before I actually owned one), I recall reading an article in one of the Corvette magazines (CF or Vette) describing an annual McDorman's Corvette show with competitive judging, the grand prize for which was a new Corvette (this was in the late 1970's, I think). The article related the story of the apparent winners (the names were Munzer and Williams I think) and their preparation of a 1963 coupe. From the photos accompanying the article, it was clear that these were not "pros", since the work was being done in a residential neighbourhood driveway, not a well-equipped shop.

grant

Bill Munzer's '63 fuelie is covered in detail in Corvette The Sensuous American vol. 2 no. 1. He won a new '76 Corvette.

[Bill T.]

Re: C2 parts prices: Is this a rich man's hobby?

I bought my 67 in 77 and every year after that I attended the Southeast Regional at Cypress Gardens (now Kissimee) and bought parts and put them away for the future. Am I ever glad I did that now...

[Timothy B.]

Re: C2 parts prices: Is this a rich man's hobby?

Is the price of the parts getting more expensive or the money just worth less!!!

Hold on to you cars if you can, at least you will have something to show for your hard earned money.

If we keep going the way were going better hold on to SMITH also..

Thanks to our leadership in Congress!!

Sorry, I just had too..

[John D.]

Re: C2 parts prices: Is this a rich man's hobby?

Larry, I have bought a lot of rare 63 parts on ebay but for every correct part I bought I ended up with two that were a POC.
Ebay prices are not an indication of value of a particular item. If you think I am wrong take that part to a big show and see if you can get those kind of bucks. Never happen. On the other hand ebay guys somertimes give the stuff away. RJ and I mentioned the other day that you can get more buks for a part from the Driveline or Hemmings that maybe on ebay.
So who really knows the answer. I went to a local flea a couple of weeks ago and found a rare part for peanuts that I paid boo coo bucks for on ebay. JD

[Steven B.]

Re: C2 parts prices: Is this a rich man's hobby?

Larry, I have bought a lot of rare 63 parts on ebay but for every correct part I bought I ended up with two that were a POC.
Ebay prices are not an indication of value of a particular item. If you think I am wrong take that part to a big show and see if you can get those kind of bucks. Never happen. On the other hand ebay guys somertimes give the stuff away. RJ and I mentioned the other day that you can get more buks for a part from the Driveline or Hemmings that maybe on ebay.
So who really knows the answer. I went to a local flea a couple of weeks ago and found a rare part for peanuts that I paid boo coo bucks for on ebay. JD

John, I agree. I have bought some parts on eBay, some as advertised and as expected, and unfortunatley some misadvertised. It is a crap shoot. A week or two ago I questioned a seller about markings and dates on parts and the response I received was that he was on vacation and could not provide the info. before the auction expired. I much prefer to deal with NCRS members whenever possible.