RE: [Chrysler300] Downside of 300 values

["Lee Meyer" <js23rob@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx>]

Howdy gang, here is my two cents worth on the whole ridiculous priced
car thing. As a relatively young 300 guy (42), I can say the prices have
pretty much killed any interest in letter cars for me. I have sold all
of my 300s and any parts I have had and I have no interest in buying any
more. The current costs of buying a restorable wreck of a car plus the
price of parts needed have made the prospect of restoring one quite
unappealing and possibly financial suicide for me. These cars are
extremely difficult, expensive, and complicated to restore, with no
parts cars available because they are now worth restoring because of
their final restored values.  I am a hardcore real deal car guy myself;
I would like to consider myself a true enthusiast. I don't restore or
own these cars because of their $ value, I buy and drive and restore
them because I love these old things and it practically all I think
about or do. The 300 prices have pretty much turned me off to these cars
in favor of my other interest in Mopar muscle cars, 63-71 years. I can
restore at least 2 and probably 3 Cudas for the cost of doing a 300F.
The cuda still costs a bunch, but it is a far simpler car and
considerably less expensive to restore, and considerably more parts
available. Let's say I want to restore a 300F hardtop. First I have to
find one, which is kinda tough. I am not a rich guy so I have to buy a
complete but ratty one. Current cost for something like that is probably
$20,000 and up I am guessing. Since it is ratty I have to find a parts
car for body parts, rust free of course. That could be 5-10 thousand as
well. Now add $40,000-$60,000 at least and up to a year of my time and
this 300F has sucked the life out of me. I have so much invested in it I
can't afford to keep it and will it bring $100,000 plus so I can break
even at least? And I can't really afford to put a year of my life into a
car and not get a return, I do like to eat, and I don't care much for a
diet of wiener water soup. 

Here is what I currently own-1)1966 Plymouth satellite, real deal Hemi 4
speed car. Old racecar, very rough and missing a bunch of stuff. I am in
this car for $20,000 and I will be in it for a total cost of $40-$50,000
when fully restored. At current market it is worth about $100,000
restored. 2) 1970 Plymouth Cuda, real deal 440 six pack car. This thing
was parted out, tubbed and drag raced. Rough incomplete car when I
bought it. I have accumulated a bunch of parts and stuff but not started
the resto. I am in it for about $30,000 now, will be in it for about
$50,000 when restored, current market is about $100,000+. 3) 1970 dodge
challenger 440 RT. Real deal nice virgin California car that has been
sitting outside in the sun for 30 years. 40,000 original miles, does not
run, needs a pretty easy resto. Paid $15,000 for it 2 years ago. Will
cost $15,000 more to restore it, current restored value is about
$60,000. 4) 1959 Dodge Wagon. Nice rust free old car, paid $3000 for it.
Might put $10,000 into it, no idea what its worth. I just dig it. Was
361 3 speed, will be 440-4 speed. 5) 1966 plymouth valiant convertible.
Virgin rust free California driver. Paid $4500 for it. Will put another
$5000 in it to make a sweet driver out of it for the girly-whirly. She
digs the dorky little car. Keep in mind I do 90% of my own resto work,
so I don't want to hear any grief about costs.

That is all I have right now and if all goes well I hope to be able to
keep at least a few around for a while.

Can you blame me or any other younger car guy who looks the other way
when a 300 goes up for sale? You might want to give that a thought when
you celebrate the value of your six figure letter car. The only people
who will own them are rich guys and old dudes who bought them long ago.
Just like the current owners of most of the 426 Hemi cars. The hardcore
car enthusiast is pretty much screwed. The dream car will always be just
that, just a dream.

Lee in San Diego

 

-----Original Message-----
From: Chrysler300@xxxxxxxxxxxxxxx [mailto:Chrysler300@xxxxxxxxxxxxxxx]
On Behalf Of Ray Jones
Sent: Tuesday, December 19, 2006 5:11 PM
To: John J. Hertog
Cc: 'Josh Mishler'; Ray Jones; 'Owen Grigg'; 'Wayne Graefen';
Chrysler300@xxxxxxxxxxxxxxx
Subject: Re: [Chrysler300] Downside of 300 values

 

Let's not blame eBay. They also are offering a service, a large "Flea 
Market" with maybe thousands/millions of people looking at any given 
"Table" (the part you're selling or trying to buy).
With-out eBay, you would never know of 99.99% of these parts. So, you 
pay higher prices, but you can find the parts sitting in your living 
room, on a daily or nightly basis. It's just a service.
If it's too high, pass. You wouldn't have ever known about the part 
anyway, unless it was your neighbors.

And, as this list-server has shown many times, you can ask if anyone 
has what you need, and get a reasonable price if they have it.
Ray

On Dec 19, 2006, at 6:49 PM, John J. Hertog wrote:

> Yes, as a
> result, prices for parts are now ridiculous and headed for the 
> obscene. You
> may also thank ebay for that.

 



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