Evan's (REAL1) Car On The Market

[moore_rb]

Originally Posted by Tommy

The value of an item is largely determined by supply and demand. The supply of mid-60s Corvettes is fixed, so the value is determined solely by demand. The supply of Cobra replicas is increasing and, as long as demand is sufficient, builders will continue to make them. That means it is unlikely their values will increase significantly as they do with collectible cars. .... Cobra replicas are great fun to drive, but I can't see the value of cars that are still being made and sold increasing like the original Cobras of the 1960s.

I like your post, and agree with you on most of your points. The only minor difference in perspective I have is that it is price, not value, that is moved by supply versus demand.

I know that to many people, price=value; but I think an important distinction between the two can be illustrated right here, in this thread:

The price of CSX4000 cars (on average) may be running lower than what Real 1 is asking for his specific example, and yet, someday, a buyer may emerge that values his particular car more than they value its competitors in the marketplace, and they may therefore agree to pay his premium -

Likewise- He seems to value his car so much that he is simply not willing to part with it at market rate prices - Good on him. Some may look at his price and conclude him to be a greedy profiteer, but no one can really understand why he priced his car where he did- The truth only exists in his head, and he states clearly in his ad that he would rather keep the car, then let it go for less than he's asking - Again, good for him...

Value is very personal, and subjective, while prices are empirical. Prices only reflect the exact point on a trendline where a particular sales transaction was closed...

Value can move prices, but prices NEVER determine value... Just 2 more cents, from another amateur economist...

Oh, and I do FULLY agree that the Cobra (replica) market is going to face some eventual headwinds in resale prices due to the continuously increasing supply factor... JMHO.

When the grocery store only has 20 mangos, they are $2.00 apiece... when the grocery store has 20 cases of mangos, they are $.30 apiece...

And, as a SERIOUS Corvette guy myself (Go look me up- I was a Moderator on DigitalCorvettes.com for 7 years), I can state from personal experience that (to me), no mid year (63-67) Vette is anywhere NEAR as much fun to drive -

Even the late 66 and 67 Big-block Vettes still feel bigger, less rigid, and far more demanding to drive than these little bubble-faced go-carts.

Buy (the correct) mid-year Corvette as a "buy and hold" investment. Buy a Cobra Replica to drive, and to have fun in...

They really are Apples and Oranges