| Re: [GMCnet] GMC price trends [message #104580] |
Fri, 29 October 2010 18:51  |
timdehaan
Messages: 26
Registered: October 2010
Karma: 0
|
Junior Member |
|
|
As one who does not yet own a GMC and has only been doing research on this motorhome for a week, please bear with me as this is a very important question for a wannabie newbie.
A little about me -- I have owned every type of RV there is with the exception of a class C. They have ranged from new to the current 5th wheel we have that I picked up for next to nothing do to water damage. I have repaired, rebuilt or restored both RVs and boats for myself and as a vocation. We have used them for leisure and for travailing to and staying at various job sites.
Enough about me, here are my thoughts. You can't really compare the GMC's value to the classic or collector car market. People don't use old cars like we do RVs.
I use the Ford Model A as an example of collector car values for several reasons.
1. I know it.
2. It has been a well supported hobby with every part available on the after market
3. It's been around long enough to see it's peak and fall.
I have a Ford Model A that has been in the family for years. It sold new in 1929 for about $500. In the late 70s it had a frame off restoration and it's value went from around $500 to $20,000. Why? Because men (mostly) my dad's age wanted cars they grew up with. The new value was more than the cost of the restoration.
Fast forward 30 years to 2008 when Dad, now in his 80s, made me the keeper of the A. It's value is down to about $12,000. No, it is not a perfect truck anymore. It needs a new paint job, the engine compartment needs detailing. To have a frame off restoration on it would not be worth it as it's value would not cover the cost of the work as a collectible. If I were to sell it, the person that would give me the best price for it would be a hot rodder that would (in my mind) destroy it.
Why is the value down? The market is flooded with Model As. Guys my Dad's age are dieing off and the kids don't want dad's toys.
The cars from the 60s and 70s that are hot now (If only I still had my Boss 302 that I sold in 1980 for 2 grand or the 69 Dodge Dart GTS convertible I bought in 77 for $800) have seen a drop in value of 20 to 40% in the past few years. These cars should go back up in value for a time when the economy improves but they will fall in value as the Model A has fallen.
If you want to invest in cars - Try to figure which car the kids of today think are hot and buy one. Put it away in the barn for 20 to 30 years and if you are right, you have your grandkids college paid for. If you were wrong, you have a nice low mileage car they can drive.
Anyway - For a 35 year old RV that sold for 25,000 to 40,000 in the 70s to still be worth the same money today (not counting inflation) is something. As long as we take care of and use our GMC as they were intended, I see this drop in prices only as a temporary dip. As new wood and staple RVs continue to go up in price only to fall apart in 15 years and new generations keep looking to recycle, rebuildable RVs in good condition should hold their price relative to the economy. What will keep the price down on older style units, are the features new aluminuim frame RVs have such as walk around beds, dry baths, and slide outs.
Will you lose money if you buy a GMC? I don't think so in the long run IF you don't over pay to begin with and IF you use it. Can you buy a cheap one today and sell it next year for twice the money? I don't think so as there are too many on the market right now but it is a great time to buy a GMC no matter what level of repair/upgrades you want to get into right up to the ones that just had frame off restorations that don't need any repairs just personal upgrades.
And that is why I think I am going to buy a GMC tomorrow in need of a whole lot of work.
_______________________________________________
GMCnet mailing list
List Information and Subscription Options:
http://temp.gmcnet.org/cgi-bin/mailman/listinfo/gmclist
|
|
|
|
| Re: [GMCnet] GMC price trends [message #104587 is a reply to message #104580] |
Fri, 29 October 2010 20:24  |
rwbmitiopt@comcast.net
Messages: 189
Registered: April 2005
Karma: 0
|
Senior Member |
|
|
Tim
Very thoughtful and well presented! Good luck tomorrow and I hope you find the right coach for you. Come on back, your experience will be of value to both oldies and newbees.
Randall
| timdehaan wrote on Fri, 29 October 2010 16:51 |
As one who does not yet own a GMC and has only been doing research on this motorhome for a week, please bear with me as this is a very important question for a wannabie newbie.
A little about me -- I have owned every type of RV there is with the exception of a class C. They have ranged from new to the current 5th wheel we have that I picked up for next to nothing do to water damage. I have repaired, rebuilt or restored both RVs and boats for myself and as a vocation. We have used them for leisure and for travailing to and staying at various job sites.
And that is why I think I am going to buy a GMC tomorrow in need of a whole lot of work.
_______________________________________________
GMCnet mailing list
List Information and Subscription Options:
http://temp.gmcnet.org/cgi-bin/mailman/listinfo/gmclist
|
Randall Burns
Sammamish WA
75 EX GB
|
|
|
|
| Re: [GMCnet] GMC price trends [message #104593 is a reply to message #104580] |
Fri, 29 October 2010 21:07 |
philipswanson
Messages: 282
Registered: January 2004
Karma: 0
|
Senior Member |
|
|
Best to buy a GMC to own and enjoy. Forget what it is worth from day to day, just drive it. A motorhome is not typically a hot investment even though GMCs probably hold their value the best but who cares? My Ford woodies have turned out to be the best investment I ever made dollar for dollar.
Phil
[Updated on: Fri, 29 October 2010 21:09] Report message to a moderator |
|
|
|
GMCforum
Search
Help
Register
Login
Home
