Used Glassic Values
|The Annex has received several requests for information regarding used car values. Although it is an impossible task, the information below is based upon "an educated guess" coming from a more than average familiarity with Glassics. Collector car experts may offer improved insight, as will your own opinion if you are a buyer or seller. The Annexmaster claims no knowledge other than his own opinion based on his familiarity with these cars. Be sure to read the disclaimers at the bottom of this page.|
Value estimates were reviewed in April, 2016 and remain in the same range.
In the last couple of years, some well
restored cars are popping up for sale, bringing higher
Glassic values and sales, are showing signs of improvement. The "economy" feature, shown in last year and prior estimates is removed for this year, since cars seem to be selling once again. Obviously, neither the price guess-timates or the disappeared economy penalty are yes or no items. The further below the indicator the price is, the more likely a car is to sell quickly, the higher above the indicator, the possibility increases of a long selling period.
Below are prior year reports, for those who may be interested.
2014 update: I did not make any value proclamations in 2013, since there was really nothing good to report, and I felt that reporting the bad news in the market might actually be influencing values. Glassic sales were very sluggish at the bottom of the housing slump, but they seem to be recovering as people become more settled.
As the housing market is somewhat recovering, Glassic values and sales, while lagging behind the housing improvements, are also showing signs of improvement. Most of the improvement seems to be that the cars are being BOUGHT once again, not that prices are back to their peaks. The chart below, still with its deductions for "economic slump" remain a reasonable guesstimate of a sales value. Most recent sellers have reported being a bit disappointed in their sales price, but, unlike 2012-2013, they are finding buyers. My gut impression at this time is that, a year from now, the report will be even better.
2012 update: Selling a Glassic used to be a "done deal" back in the day, but since the economic downturn, the market became sluggish, and seems to have remained that way into 2012. The chart below continues to provide a valid "idea" of values, but the feeling is that less people are interested. A smaller market does not mean an impossible market, but I have seen very few cars sell quickly at or above what they seem like they should be worth.
At the same time, I have seen instances where cars don't seem to find a buyer even when they appear to be priced very low indeed. Glassics have always been for a small, specific audience, but now that group seems smaller regardless of selling price.
I don't see that the prices have gotten LOWER in 2012, just that the buyers have gotten harder to find.
Still, you only need one buyer, so give good details and SELL the good points of your particular car. Good sharp pictures help, too.
2009 - 2010 update: Without using specific statistics, I sense that there has been a decrease in what had been stable prices for used Glassics. I have left the old price estimates below, but added a "recession factor" for those thinking of selling in early 2009. We all, I am sure, hope that this is temporary, and, as always, it remains a matter of who wants YOUR Glassic and how badly. Sept. 2010 -- There appears to be little improvement in sale prices since the 2009 update. The negative "economy factor" still seems to apply this year, however --
The lessening of the "doom and gloom" economic outlook makes me hopeful that we will soon return to the more stable price structure in black on the chart below. Glassic sales appear "slow and sluggish" compared to a few years ago, but the cars are selling and their value remains steady with a slight rise if you remove the general economy slump factor of the last 2 years.
As in 2006, and 2007, the 2008 prices seemed similar to other recent years. The price "guesses" below have not changed since 2005. Glassic values seem to be holding steady year to year. I have not seen many cars selling in the upper range, and those have been rebuilt, repainted, re-upholstered and restored. Buyers seem to know the that a 30 year old engine, even with low mileage, is not as good as a recently rebuilt engine, for example.
Remember that the higher end of the prices are only being achieved for fully restored and/or upgraded cars. Even the "typical" condition cars should be showing a good number of replaced parts. Low mileage is often found on Glassics, but is not as big a selling point as it would be on a 2 or 3 year old car. A car with 60,000 miles and all replaced rubber parts (hoses, lines, seals, front end parts) should be more valuable than an untouched car with 2,000 miles.
In 2005 there seemed to be a slight uptrend in sale prices, with slightly more cars being offered in better condition than prior years. The figures below have been adjusted upward between $500 to $1000 for typical or better cars.
2008 seems to show a slight slow-down of
purchases. I have the impression that it is
are two main categories.
Car conditions range from rough to excellent. An excellent car runs perfectly and has shiny chrome and a fresh paint job, or a finish that looks almost like a new car. It is neat and clean inside and out. Dealers may sell cars at higher prices than individuals, but often provide warranties or other added values.
The figures above do not represent actual highs and lows, but rather an area in which to begin thinking. I know of one "collectible" dealer who has sold 3 or 4 Glassics well above $16,000 before 2003. Comments and actual experiences are welcome. GlassicAnnex@aol.com
These are "collector" cars, or "special interest" cars, so most of their value is NOT in their function as a means of transportation.
Supply and demand determines their value. A perfect Glassic has no value if nobody wants to buy it. Likewise, a person may pay an excessive price if the car strikes his/her fancy and the seller is reluctant.
Condition of a car is nearly impossible to determine without an eyeball inspection. Even then, the worth of a car may need to be compared to other cars available at that time, in other conditions and at other prices. In other words, there are not hundreds of identical cars available at any one time by which to compare prices.
Price ranges above are based on intuitive reactions to cars that have been offered for sale but not sold, and cars that have actually sold at a given price, or in a given range. The estimates are based on an aggregate of a number of car prices over time.
Additional Value items:
Unlike genuine antique cars, there is no particular value in "Authenticity". Having an original engine is important in an antique show car, for example, but not so in Glassics. Any known modifications can add or detract from the value solely based on a buyer's feeling.
Most Glassics seem to have low mileage compared to daily driver cars. The care that the car has received would be more important than the odometer reading. In fact, some very low mileage cars could have engine problems from years of idle storage. A good, known history, and regular maintenance can add value to a car.
I have noticed that cars have rarely (if ever) sold for their asking price, so you should factor in some bargaining room in pricing a car, or buying one.