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Discussion Starter #5
Did anybody else happen to catch the final price?

$134,000!!!
Yes the car was posted with the Found this 107 on Craigslist etc thread

Now I wondered what the investment paid out for the price in 1988 vs the 134K now.
As discussed would you drive this car? It won't matter since I am short the 134K this buyer had.
 

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Yes the car was posted with the Found this 107 on Craigslist etc thread

Now I wondered what the investment paid out for the price in 1988 vs the 134K now.
As discussed would you drive this car? It won't matter since I am short the 134K this buyer had.
About $64K in 1988.
 

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First time I saw one sell for more than the original price. There was another one with ~ 800 miles on it that sold several years ago for some where in the 50K range.
 

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Discussion Starter #8
First time I saw one sell for more than the original price. There was another one with ~ 800 miles on it that sold several years ago for some where in the 50K range.
It would make a story to write up on why someone did this from the beginning. Growing up the Corvet was the car to save for a retirement investment. Was this just a car of choice for the first buyer? He didn't prep and store for that looking at the dirty car photos with mildew inside.
Bought if for a girlfriend and broke up? oh well OT ..... A 1988 Corvet might not bring 134K will it?

I have seen many below 50K miles but not 800. Is another one out there? I like my 107 but would have picked something else. In 1988 they didn't have many rare cars did they? Cabrio or something less common? A 6.3 maybe? This car sitting for years was either to make money or more money than sense right?
 

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Discussion Starter #11
$64k in 1988 dollars is worth $139k in 2019 dollars, so this investment didn't even keep pace with inflation.
(Source: https://www.usinflationcalculator.com/)
Good confirmation what I was thinking there was no fortune to be made doing this. Back in the day you could double your money or more over years and not store a car. From the car purchase angle I was always happy if it would keep the price I paid for it. Like mine was 12k over 20yrs ago and could get 10-12 back driving for the price of repairs. Your 139K is just inflation not investment. Does that mean I paid 12K 20yrs ago it should sell for much more to break even?

Back to the 88 560SL is the car going to keep up the 134K value? The first buyer might have just enjoyed the car. Can you say that for the new buyer at 134k?

Tooo OT sorry never mind
 

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Good confirmation what I was thinking there was no fortune to be made doing this. Back in the day you could double your money or more over years and not store a car. From the car purchase angle I was always happy if it would keep the price I paid for it. Like mine was 12k over 20yrs ago and could get 10-12 back driving for the price of repairs. Your 139K is just inflation not investment. Does that mean I paid 12K 20yrs ago it should sell for much more to break even?

Back to the 88 560SL is the car going to keep up the 134K value? The first buyer might have just enjoyed the car. Can you say that for the new buyer at 134k?

Tooo OT sorry never mind
It's a good point. Also doesn't take into account insurance, repairs, nor opportunity cost.

I met a guy who had just bought a very nice 560SL, but planned to store it in his garage as it was an investment. The car wasn't really show-quality, and he had likely overpaid for it, but he had no intention of driving it. I used mine as a daily commuter and figure I'll get far more value out of it over the long term (regardless of what he eventually sells it for).
 

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Discussion Starter #15
Begs the question: has the car even been fully broken in yet? What was the break in period on these cars from the factory?
And one cigarete butt in the ashtray could screw up the whole deal. I don't smoke but maybe I would drive the hell out of it.
I plan on bouncing my last check.


I have not been here that long it looks like almost everything has been seen here. That group of modified 107s is great.
I saved this over engineered kayak as the best example of did you really want something else? It's green and does have a solar panel on back. A fly line basket in a kayak? Oh yeah

btw it's real and for sale in Lutz, FL. the list is endless!
 

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Gents:

I have a 1986 560SL with 262 miles......bought new for $45K March 1986. Cars are not investments------maybe poor investments at best.
Put your money in a Total Stock market index fund,,,,,,,,,,,,,,,,,I ran the numbers on 300SL Gulkwings and Roadsters. Index funds win again!!!

Cars are for enjoyment--------whether it's driving or waxing them.

Best regards
Mike P
 
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