positivetennis Posted July 6, 2015 Share Posted July 6, 2015 This car must make your head spin then PositiveTennis? http://www.hemmings.com/classifieds/cars-for-sale/datsun/240z/1751879.html $60K for a rough looking 240z. Yes, 60k can buy a lot of things including an XK 8, NSX E Type and a deposit on an investment property. There are many in the US under 10k which is value. Quote Link to comment Share on other sites More sharing options...
locklock Posted July 6, 2015 Share Posted July 6, 2015 http://www.cnbc.com/id/102236877 Cnbc report on most collectible investments. Quote Link to comment Share on other sites More sharing options...
WA240Z Posted July 6, 2015 Share Posted July 6, 2015 "$60K for a rough looking 240z" I think the seller has added an extra zero there by mistake. "In the late 80's you could get a nice 240z for $5000" My '73 240Z was purchased for about $11,000 in 1989. It was in pretty much show condition at the time and one owner. Quote Link to comment Share on other sites More sharing options...
dat240z Posted July 6, 2015 Share Posted July 6, 2015 "$60K for a rough looking 240z" I think the seller has added an extra zero there by mistake. "In the late 80's you could get a nice 240z for $5000" My '73 240Z was purchased for about $11,000 in 1989. It was in pretty much show condition at the time and one owner. True, but the ratios are consistent today. For example, late 80s average house price roughly $100k (depending on area), clean/tidy z up tp $10k 2015 ave house prices - $500k, clean tidy z's going for easy $50k... ratios are still intact. My prediction - z's , particularly 240's will continue to appreciate. Quote Link to comment Share on other sites More sharing options...
Administrators gav240z Posted July 6, 2015 Administrators Share Posted July 6, 2015 "$60K for a rough looking 240z" I think the seller has added an extra zero there by mistake. "In the late 80's you could get a nice 240z for $5000" My '73 240Z was purchased for about $11,000 in 1989. It was in pretty much show condition at the time and one owner. I asked him if the price was legit, he confirmed it was correct. I wish him good luck. True, but the ratios are consistent today. For example, late 80s average house price roughly $100k (depending on area), clean/tidy z up tp $10k 2015 ave house prices - $500k, clean tidy z's going for easy $50k... ratios are still intact. My prediction - z's , particularly 240's will continue to appreciate. Yes I think 240z's are going to go up in value over the next couple of years, my prediction is that they may even double....Which is scary to think about. All driven by a crazy collector car market. All I can hope for is the fed will hike interest rates, the cheap money tap will stop flowing, house prices will return to a sane level along with classic cars. Quote Link to comment Share on other sites More sharing options...
Administrators gav240z Posted July 6, 2015 Administrators Share Posted July 6, 2015 By the way found this the other day, seems to be 1 of the better guides out there at the moment on buying an S30z. http://www.tradeuniquecars.com.au/buyers-guide/1506/datsun-240z-260z-(1970-1975)-buyers-guide/ Articles like that really talk about the S30z in an upbeat fashion and I guess will attract more and more people toward the marque. Interesting they were more expensive than a GTHO Falcon...Of course released a couple of years later though. Quote Link to comment Share on other sites More sharing options...
dat240z Posted July 6, 2015 Share Posted July 6, 2015 Yeahhhh.....nah mate. Maybe a small correction in cities like Sydney or Melbourne, but by international standards these places arent in the same league as Paris/London/New York/Singapore etc in terms of $$$ per sqm. My opinion is that there is still a little height before it hits the ceiling. In addition, our wages are some of the highest in the world, if not the highest. My advice is dont wait for the prices to drop, otherwise in another 10yrs when youve decided to bite the bullet and purchase, youll be paying an additional premium. The best time to buy is always as soon as you can get into the market. If you have an option to move home, a first home buyer investment is a great way to play catch up. Rent income + mortgage payments will put a decent dent into it.... Quote Link to comment Share on other sites More sharing options...
Administrators gav240z Posted July 6, 2015 Administrators Share Posted July 6, 2015 I don't want to derail this post since it's talking about a classic car bubble (not real estate) but I do believe both are connected. I've already destroyed the FDRX7.com forums with my talk of a housing bubble. haha. Quote Link to comment Share on other sites More sharing options...
chris240 Posted July 6, 2015 Share Posted July 6, 2015 Jeez, you blokes must be real estate agents ! Quote Link to comment Share on other sites More sharing options...
dat2kman Posted July 6, 2015 Share Posted July 6, 2015 Welcome to 2015 Once the few remaining decent reconditioned, or vg examples of 240Z's dry up, as they are doing right now, Watch the prices of good cond 260Z 2 seaters start to skyrocket. Supply vs demand. Buy up as many 260Z's as you can, and stop being so niicky about minor naccuracies. Quote Link to comment Share on other sites More sharing options...
locklock Posted July 6, 2015 Share Posted July 6, 2015 SorRy abit off topic. Do anyone know where or how can i get a valuation of a car? I have a 1972 mitsubishi galant gto. No one is selling, i cant get a benchmark pricing and i would like to know how much its roughly worth now... Quote Link to comment Share on other sites More sharing options...
Moderators PB260Z Posted July 6, 2015 Moderators Share Posted July 6, 2015 True, but the ratios are consistent today. For example, late 80s average house price roughly $100k (depending on area), clean/tidy z up tp $10k 2015 ave house prices - $500k, clean tidy z's going for easy $50k... ratios are still intact. My prediction - z's , particularly 240's will continue to appreciate. Great point - Unless you live in Shitney, ave house price is now around $800K ???? But Z's seem to be pretty much even across the eastern states ???? Quote Link to comment Share on other sites More sharing options...
Administrators gav240z Posted July 6, 2015 Administrators Share Posted July 6, 2015 SorRy abit off topic. Do anyone know where or how can i get a valuation of a car? I have a 1972 mitsubishi galant gto. No one is selling, i cant get a benchmark pricing and i would like to know how much its roughly worth now... How about this? http://www.goo-net-exchange.com/php/search/summary.php?maker_cd=1040&car_cd=10401507 As always depends on condition and what someone is willing to spend, that's why an auction with a set reserve is always a good idea. Looks like good examples are asking around $20K USD. Quote Link to comment Share on other sites More sharing options...
Bonkers Posted July 7, 2015 Share Posted July 7, 2015 Lots of interesting comments there. But the original Z still has some way to go before it regains its original value. If memory serves they sold for around $4600 and in today's money that's around $71000. About what you would pay for a new 370Z. That is not to say there are not any S30's worth that, but it would bring them full circle.It seems Nissan picked Professional people (Trades people, Nurses, middle management) as their target market in 1969 and decide that a 3/4 to a year's income would be a good price to extract for a new Z. Its 46 years now and that ideology still seems to be in place. Not convinced I see. About six years ago I was handed by mistake the 370Z promotion booklet intended for dealership marketing purposes.Interesting reading if nothing else.But it just confirmed there their ideology. So if you're a team leader welder or CN Nurse expect to give up a year's pay for a new Z. Gav buy a house now .It won't get any cheaper. It may flat line for a while but that's about it. By rule of thumb the cost of houses doubles every 7 years.Sometime it takes 10 years some only 3 years. But those who have equity in their homes and can not afford more property will look at classic cars as an investment. Z's are front and centre. Prices are all over the place. They have a club and cult following round the world and are strong here in Australia with formal clubs in NSW,QLD,WA not sure about SA. There are bargains to be had even at first glance they don't seem to be.As long as interest rates remain low (under 5% to the public)the value of the cars will increase quickly .As stated supply and demand. Quote Link to comment Share on other sites More sharing options...
Bonkers Posted July 7, 2015 Share Posted July 7, 2015 That explains why most members of Z car clubs have more than one Z. I didn't leave VIC out of the formal clubs .I just don't know why they haven't got a formal club for Z's. What stopping you guy's . Quote Link to comment Share on other sites More sharing options...
hmd Posted July 7, 2015 Share Posted July 7, 2015 By rule of thumb the cost of houses doubles every 7 years.Sometime it takes 10 years some only 3 years. There is no such rule. Only some historical average. Population growth need to exponentially increase to keep the 'rule' true. Have a look at Japanese real estate and see what population growth or lack of it do to real estate prices. Quote Link to comment Share on other sites More sharing options...
dat240z Posted July 7, 2015 Share Posted July 7, 2015 The Japanese market and subsequent crash during the late 80s had many varying factors and was quite dissimilar to the conditions Australians have. We are in a much much better position to sustain growth through a number of factors - wages, supply demand, immigration, single occupancy households Secondly, if you look at historical data or ABS records, they do actually show on average house prices double every 10 or so years. Anyone awaiting or predicting incredible bubbles are generally those who haven't invested and or purchased a primary residence. Anyway good times for z and property owners over the last 10-15yrs and hopefully another few to come Quote Link to comment Share on other sites More sharing options...
hmd Posted July 7, 2015 Share Posted July 7, 2015 Not saying currently there is a bubble or not. I am saying you can't apply the double value in 7 year forever. There is an exponential effect (simple maths) once you double, it's doubly hard to double again (pardon the pun). For example if you have a business, you may be able to double your revenue from 1M to 2M, 2M to 4M, 4m to 8M then it's really hard to double that to get to 16M. Quote Link to comment Share on other sites More sharing options...
GongZ Posted August 13, 2015 Share Posted August 13, 2015 I just read this in an email I received from Shannon's Insurance about their 'Shannons Sydney Winter Classic Auction'; "The standout result of the $2 million sale was the sale of a beautifully presented and Australian-delivered 1973 Ferrari Dino 246 GT Coupe to a local enthusiast for an Australian auction record price of $522,000. This excellent result was a reflection of current world-market values of top Dino 246 GT Coupes, no doubt elevated since Ferrari recently announced plans to re-introduce the famous nameplate on a new entry-level model." Its way past my bed time - so I am not going to do any maths - but I remember seeing these in Scuderia Veloce Motors' Lindfield (or was it Roseville?) showroom in 1973 for just over $15,000 brand new. Quote Link to comment Share on other sites More sharing options...
260DET Posted August 13, 2015 Share Posted August 13, 2015 Some Porsce 911 owners are getting all excited about the rise in prices for their cars, it seems that there is a bit of a investment trend for older iconic cars so some caution may be advisable. Although it's hard to consider that S30 and 911 prices will ever go down. Quote Link to comment Share on other sites More sharing options...
Administrators gav240z Posted August 13, 2015 Administrators Share Posted August 13, 2015 Not saying currently there is a bubble or not. I am saying you can't apply the double value in 7 year forever. There is an exponential effect (simple maths) once you double, it's doubly hard to double again (pardon the pun). For example if you have a business, you may be able to double your revenue from 1M to 2M, 2M to 4M, 4m to 8M then it's really hard to double that to get to 16M. To your point. All you have to do is watch that to see that 'doubling of prices' is totally unsustainable if not followed by increase in wages and rents. The soft landing is best wishes. Some Porsce 911 owners are getting all excited about the rise in prices for their cars, it seems that there is a bit of a investment trend for older iconic cars so some caution may be advisable. Although it's hard to consider that S30 and 911 prices will ever go down. I think the thread title is appropriate to be honest, it's a 'bubble' in the classic car market also. It's speculation driven, as to where and how it will stop who knows. But I think the Playstation generation will always lust after the Gran Turismo cars and a lot of that stuff is Japanese, not European...So perhaps the steam will get taken out of the market followed by a recovery later on. If you don't have to sell, don't. Quote Link to comment Share on other sites More sharing options...
Retro Z Posted August 14, 2015 Share Posted August 14, 2015 Some Porsce 911 owners are getting all excited about the rise in prices for their cars, it seems that there is a bit of a investment trend for older iconic cars so some caution may be advisable. Although it's hard to consider that S30 and 911 prices will ever go down. Quote Link to comment Share on other sites More sharing options...
260DET Posted August 14, 2015 Share Posted August 14, 2015 The comments are even better, serious stuff :'( Quote Link to comment Share on other sites More sharing options...
Administrators gav240z Posted August 21, 2015 Administrators Share Posted August 21, 2015 http://www.carsales.com.au/news/2015/pebble-beach-bidder-up-53249?csn_tn=true An immaculate and perfect 1971 Toyota LandCruiser FJ43 sold for $US115,500 and everyone said “what?”. Since when is a Japanese Jeep worth more than a classic 1937 Cord Phaeton? The Cord sold for $US94,600. As cool as a Toyota Landcruiser is, I'd take the Cord Phaeton myself. Awesome wedding car, and probably a good money spinner for that sort of thing. Quote Link to comment Share on other sites More sharing options...
Administrators gav240z Posted August 27, 2015 Administrators Share Posted August 27, 2015 Now I'm not picking on the Mazda R100's because I like them, but when did they exceed the $100K AUD mark? http://www.carsales.com.au/private/details/Mazda-R100-1969/SSE-AD-3560112/?Cr=0 $115K AUD http://www.carsales.com.au/private/details/Mazda-R100-1969/SSE-AD-3368642/?Cr=1 $120K AUD http://www.carsales.com.au/private/details/Mazda-R100-1969/SSE-AD-3565675/?Cr=2 $120K AUD The world is well and truly engulfed in a speculation / asset bubble. I half expected it to be all the same seller, but it's different sellers. Unless they have colluded to sell at the same time with prices set around this mark to make it appear that this is the new norm? Not a bad strategy. Quote Link to comment Share on other sites More sharing options...
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